cc 2024 AR 11/12 fy 23-24 fourth quarter financial report — Vista City Council, November 12, 2024

ACTION:
____________________________
Clerk/Secretary
Department: Finance Item No: C4
Prepared by:

Mathew McDonald, Assistant Director
Lori Ruiz, Senior Accountant Meeting Date: November 12, 2024 Approved by:

Mike Sylvia, Director/Treasurer
John Conley, City Manager Agenda Location: Discussion
SUBJECT: FISCAL YEAR 2023/24 FOURTH QUARTER FINANCIAL REPORT RECOMMENDATION:

1.Receive and file the Fiscal Year 2023/24 Fourth Quarter Financial Report.

2.Adopt City Council Resolution No. 2024- , amending the Operating Budget for Fiscal Years 2023/24 and 2024/25 and amending the Capital Project Budget for Fiscal Years 2024/25 and 2025/26.

CORRELATION TO CITY COUNCIL GOALS: Supports all the City Council’s goals.

PRIOR ACTION: On May 28, 2024, received and filed the Fiscal Year 2023/24 Third Quarter Financial Report. Adopted City Council Resolution No. 2024-70, amending the Operating Budget for Fiscal Years 2023/24 and 2024/25, and amending the Capital Project Budget for Fiscal Years 2022/23 and 2023/24.

Adopted Buena Sanitation District Resolution No. 2024-2, amending the Operating Budget for Fiscal Years 2023/24 and 2024/25. Adopted City Council Resolution No. 2024-71, amending the City-Wide Classification and Compensation Index, and repealing the provisions of any resolutions in conflict herewith. Adopted City Council Resolution No. 2024-72, approving a Letter of Agreement between the City of Vista and the Vista City Maintenance Association, and repealing the provisions of any resolutions in conflict herewith (Vote 5-0).

See Exhibit 13 for a comprehensive list of prior actions.

STATEMENT ON THE SUBJECT: General Fund revenues derived from outside sources totaled $125,556,588 for Fiscal Year (FY) 2023/24. When combined with other financing sources totaling $533,513 (primarily from the use of reserves and transfers from other funds), there was $126,090,101 available to the General Fund.

For FY 2023/24, all property tax revenues were 1.1 percent above budgetary estimates. Sales and Use Tax revenues were 0.6 percent above budgetary estimates. The combination of property and sales tax with other revenue sources within the Taxes category, or total tax revenue, exceeded budget. The combined results show Taxes at 101.6 percent over the budget. Exhibit 2 provides detailed information on various General Fund revenue activities.

In the context of sales and use taxes, the modest positive variance between actual results and the FY 2023/24 budget projections is largely attributable to lower inflation's effect on consumer demand. However, AGENDA
REPORT

CITY COUNCIL

COMMUNITY DEVELOPMENT COMMISSION

SUCCESSOR AGENCY

BUENA SANITATION DISTRICT

JOINT POWERS FINANCING AUTHORITY
Received and filed the Fiscal Year 2023/24 Fourth Quarter Financial Report, adopted City Council Resolution No. 2024-190. Directed staff to update rental assistant program to include rehousing assistance; update language of Traffic Calming and Mobility Reserve to accommodate for sidewalk projects; postpone allocation of slurry seal project funding until specific budgetary discussion is held; and support HMLA 369 families with any remaining funds from Graffiti Pilot Program following the City's grant application. Vote: 5-0

MEETING DATE: November 12, 2024 PAGE 2

SUBJECT: FISCAL YEAR 2023/24 FOURTH QUARTER FINANCIAL REPORT lingering higher prices from past inflation continue to erode consumer purchasing power, resulting in reduced sales volume compared to FY 2022/23. This has directly and negatively impacted tax revenues.

Despite this, significant changes are not expected in the near term, as local economic conditions and inflationary pressures continue to stabilize.

Proposition “L” revenues totaled $11,874,115, coming in 0.3 percent below budget estimates and 0.6 percent below the prior year’s actuals. Key Proposition “L” expenditures included $7,013,500 for debt service, $1,205,021 for fire personnel contributions, and $17,079 in administrative costs. Revenues exceeded expenditures in FY 2023/24 by $3,638,515. However, $4,040,432 from the Proposition “L” reserve was allocated to fund the Fire Station Number 3 Replacement Project, resulting in a year-end decrease of $401,917 in the reserve balance. As of June 30, 2024, the Proposition “L” reserve stood at $19,314,979. A detailed projection of Proposition “L” revenue and expenditure activity can be found in Exhibit 1.

General Fund operating expenditures (Exhibit 4) were 18.4 percent under budget, primarily due to salary and other position-related savings during recruitments for vacant positions, lower-than-anticipated payments for professional services, delays in capital purchases, and other miscellaneous factors. All General Fund operating departments and divisions were able to complete the fiscal year within their respective appropriations, except for Cultural Arts, a division within Recreation and Community Services (RCS) department, which exceeded the allocated budget by $184,709; however, expenditures for the entire RCS department were $724,000 or 7.7 percent below budget June 30, 2024. After funding required reserves and designations, the General Fund balance available at June 30, 2024 was $6,718,241. A full list of recommended uses of the year-end available fund balance is provided in Exhibit 11. A summary by City Council goal is provided in the following table:

City Council Goal AMOUNT
Climate and Environmental Responsibility $1,545,534
Economic Development 100,000
Fiscal Responsibility 2,187,707
Homelessness and Housing 100,000
Parks and Recreation 510,000
Public Safety 575,000
Traffic 1,700,000
TOTAL $6,718,241

Total cannabis revenues collected in FY 2023/24 was $6,540,061. Recent City Council direction to staff regarding utilization of cannabis revenues are reflected in staff’s recommended allocation of cannabis revenue. Specifically, on September 10, 2024, City Council discussed the framework of a Year-End Cannabis Revenue Policy which would stipulate that total Cannabis revenue is to be allocated as follows:
65 percent towards General Revenues with a minimum amount of $4,466,396; 15 percent toward youth and educational scholarships; and 20 percent to one-time projects approved by the majority of the Council.

The General Revenue amount includes funding for two Park Rangers, one Sheriff’s Deputy and one DUI Enforcement Deputy. City Council will consider City Council Policy 200-21, Cannabis Revenue Allocation Policy at the November 12, 2024 City Council meeting. Staff has created recommendations for the FY 2023/24 cannabis revenue reflecting the elements of this policy with the following allocations: $4,466,396 to General Revenues; $888,714 to scholarships; and $1,184,951 to Council-directed, one-time projects. A 11/12/2024 D4 2 of 28

MEETING DATE: November 12, 2024 PAGE 3
SUBJECT: FISCAL YEAR 2023/24 FOURTH QUARTER FINANCIAL REPORT full list of recommended uses of the $2,073,665 designated scholarships and projects is provided in Exhibit 12.

Staff recommends City Council approve the above uses of year-end fund balance and year-end cannabis revenue and amend the Fiscal Year 2024/25 Operating and Capital Project Budgets to incorporate these uses. A resolution of approval is included as Exhibit 9.

REQUIRED DISCLOSURE: Section 3702.6(b) of the California Labor Code requires that “each public self-insurer shall advise its governing board within 90 days after submission of the self-insurer’s annual report of the total liabilities reported and whether current funding of those workers’ compensation liabilities is in compliance with the requirements of Government Accounting Standards Board Publication No. 10.” The total workers’ compensation liabilities reported as of June 30, 2024 were $7,809,000. These liabilities are accounted for within the City’s Risk Management Internal Service Fund, and the reporting is in compliance with the Government Accounting Standards Board Statement (GASB) No. 10.

REVENUE & EXPENDITURE ANALYSIS: Per prior City Council direction, staff has prepared an analysis of revenues and expenses comparing fiscal years ending 2020 and 2024 to review the effect of elevated inflation during the period. Between 2020 and 2024, revenues increased by $33.4 million, or 36.1 percent, while non-payroll expenses rose by $22.1 million, or 44.2 percent. From 2021 to 2024, revenues grew by $26.4 million, or 26.5 percent, and non-payroll expenses by $18.7 million, or 35.1 percent. Non-payroll expenses as a percentage of revenue were 54.03 percent in 2020, 53.6 percent in 2021, and 57.3 percent in 2024. The chart below illustrates these changes.
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MEETING DATE: November 12, 2024 PAGE 4
SUBJECT: FISCAL YEAR 2023/24 FOURTH QUARTER FINANCIAL REPORT FISCAL IMPACT: Exhibit 6 provides a summary of the General Fund fund balances as classified under Governmental Accounting Standards Board Statement No. 54 at June 30, 2024. Precluding any adjustments that may be made by the auditors, there is an available year-end General Fund fund balance in the amount of $6,718,241 for which the City Manager has provided recommended uses, and $2,073,665 in year-end cannabis revenue allocated consistent with City Council direction specific to the pending adoption of City Council Policy 200-21.

EXHIBITS:

1.Financial and Economic Highlights. Includes a narrative discussing some of the more noteworthy items. Also included is a Proposition “L” history of reserve balances.

2.General Fund Revenue Summary, Twelve Months Ended June 30, 2024. Reflects General Fund revenues that were received or accrued by the end of the fiscal year.

3.Revenue Graphs. Presents a graphic representation of "Budget Target" vs. “Actual” revenues for the two largest General Fund revenue sources. These revenues, sales tax and property tax, account for about 45.7 percent of total General Fund revenue received from outside sources. The "Budget Target" presented on each graph is derived from a trend analysis of the revenues received by the City in the prior three years. Comparing the "Actual " to the "Budget Target" suggests the reasonableness of the revenue estimate for this year.

4.General Fund Expenditure Summary, Twelve Months Ending June 30, 2024. Presents expenditures by operating budget unit for the General Fund. It should be noted that the amounts shown in the “Expended As Of” column report expenditures only and do not include encumbrances. This schedule shows expenditures paid and accrued as of the end of the fiscal year.

5.Reconciliation of Original Revenue Estimates and Appropriations to Amounts at June 30, 2024.

Presents a reconciliation between originally adopted budget amounts for both estimated revenues and appropriations to current budget amounts.

6.General Fund Fund Balance. Presents a listing of General Fund fund balance at June 30, 2024, in accordance with GASB 54.

7.Enterprise Funds Combined Balance Sheet June 30, 2024. Presents the balance sheet for the City’s enterprise activities. The balance sheet is a “snapshot” of the assets, liabilities, and fund equity (assets minus liabilities) at a given moment in time. Generally, Total net position represents the total of revenues and contributions over expenses since the inception of the enterprise operation.

8.Enterprise Funds Combined Income Statement, Twelve Months Ending June 30, 2024. Presents the income statement for the City’s enterprise activities. Whereas the balance sheet is a “snapshot” at a given point in time, the income statement can be thought of as a “movie” showing activity (revenue and expenses) over a given period of time. Generally, the changes in the balance sheet between two given dates flow through the income statement. Because the majority of sewer service charges are collected on the tax roll, no material cash amounts are received until December. When looking at the income statement for the enterprise activities, it should be kept in mind that depreciation is a non-cash expense. Depreciation recognizes the “cost” of using a fixed asset over its useful life. Most depreciation charges are not booked until the end of the fiscal year.

9.City Council Resolution No. 2024- , amending the Operating Budget for Fiscal Years 2023/24 and 2024/25 and amending the Capital Project Budget for Fiscal Years 2024/25 and 2025/26

10.City Council Policy 200-19, Use of Year-End Fund Balance

11.Recommended Uses of the Year-End Fund Balance

12.Recommended Uses of the Year-End Excess Cannabis Revenue

13.Prior Actions
11/12/2024 D4 4 of 28

FOURTH QUARTER FINANCIAL REPORT

FINANCIAL AND ECONOMIC HIGHLIGHTS
The fourth quarter report serves to provide a comprehensive financial and economic assessment of the City's fiscal performance throughout the 12-month period of FY 2023/24.

Local Property Tax: In FY 2023/24, the City's combined assessed valuation, including secured and unsecured property, reached $16,022,372,987, marking a 7.8 percent increase compared to the previous year. While budget projections for property tax revenues in FY 2023/24 were set at $34,415,530, the actual amount received exceeded expectations, reaching $34,801,790, a

1.1 percent surplus.

Building Activity: Vista's landscape does not accommodate large housing tracts, but expectations are growing for smaller infill projects to take shape in the coming years. In the fourth quarter, spanning from April 1, 2024, to June 30, 2024, the valuation of residential building permits in Vista reached $17,461,928, marking significant growth compared to the $5,847,755 recorded during the same period in 2023.

For new non-residential buildings, permits issued during the fourth quarter totaled $2,678,873, representing a substantial decrease compared to the $17,115,883 reported for the fourth quarter ending June 30, 2023. This decline was primarily driven by a drop in permits issued for stores and other mercantile buildings, which accounted for only $675,360 in permits during the fourth quarter ending June 30, 2024, down from $16,769,837 in 2023.

In total, the valuation of all building and related permits in the fourth quarter ending June 30, 2024, reached $26,216,500, reflecting a modest increase from the $25,918,762 reported for the same period in 2023.

General Fund revenues from fees and permits, including those for building, engineering, and planning, totaled $4,920,737 during the fourth quarter ending June 30, 2024, reflecting a decrease from the $5,322,273 reported for the same period in 2023. This decline is primarily due to reduced activity in both Building Fees and Planning Fees, which saw lower revenue in the fourth quarter of 2024 compared to the corresponding period in 2023. However, this was partially offset by an increase in Engineering Fees.

It is important to note that timing discrepancies in assessing valuations and collecting fees can result in variations when comparing revenue activity to valuation trends. To provide additional context, the chart below displays the valuation of building permits issued over the past 20 quarters.
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BUILDING PERMIT VALUATIONS
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EXHIBIT 1

Local Employment: The San Diego area’s economy has shown a trend of slight increases in the unemployment rate in 2024. Preliminary data for June 2024 reveals a San Diego County unemployment rate of 4.5 percent, up from 3.9 percent in June 2023. Similarly, the City of Vista had a labor force of 44,827, with 42,604 employed, resulting in an unemployment rate of 5.0 percent in June 2024, compared to 4.3 percent in June 2023, reflecting shifts in local employment trends over the past year.

Consumer Price Index: In the greater San Diego area, the Consumer Price Index (CPI) registered a 5.1 percent increase for the entire calendar year 2023, a notable contrast to the 7.1 percent rise observed in 2022. It's important to note that CPI data for the San Diego area is published biannually, in June and December, as well as bimonthly in odd months.

In the latter half of 2023, we saw an annual growth rate of 4.8 percent, highlighting ongoing shifts in the economy. However, in the first half of 2024, the CPI began to show a decelerating trend, with an annual increase of 3.5 percent.

Housing: In June 2024, the median home price for Single Family Detached (SFD) properties in Vista's zip codes rose by 6.9 percent, reaching $897,500, compared to $840,000 in July 2023.

In contrast, Single Family Attached (SFA) homes in the same area saw a more modest increase of 1.7 percent, with median prices rising to $605,000 in June 2024, up from $595,000 in July 2023.

Sales Tax: The City's share of retail sales tax revenues relies heavily on employment stability and consumer confidence. For fiscal year 2023/24, these taxes, collected by local businesses, totaled $22,607,089, reflecting a 3.0 percent decline compared to the previous year. This reduction is largely due to the lingering effects of past high inflation on current prices. Although inflation has significantly decreased, elevated prices continue to dampen demand for goods as does demand for services which are non-taxable.

Proposition “L” Sales Taxes: An annual allocation of $1,205,021 from the additional half-cent sales tax, established through Proposition 'L' in November 2007, is designated to support fire services. Additionally, for Fiscal Year 2023/24, $7,013,500 was allocated to service the debt on certificates of participation issued to finance Community Projects.

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SALES TAX NET COLLECTIONS
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During the fiscal year, actual Proposition 'L' revenues totaled $11,874,115. These funds were used to cover fire services, debt servicing, and associated administrative expenses, amounting to $8,235,600. An additional $4,040,432 from Proposition 'L' reserves was allocated to the Fire Station No. 3 construction project. The resulting deficit of $401,917 was deducted from the existing Proposition 'L' reserves, which had been accumulated over previous years. As of June 30, 2024, the balance in the Proposition 'L' reserve, earmarked for future debt servicing, stands at $19,314,979.

Departmental Fees: The General Fund relies on fees to finance services that cater to residents' specific needs rather than general services. Since these services primarily benefit those who utilize them, fees are the preferred funding mechanism over general taxes. These services can be categorized into three main areas: recreation, building and planning services, and fire and other services.

Recreational fees encompass charges related to sports programs, theater attendance, facility rentals, trips, day camps, and catering. The City Council reviews and approves these fees annually, and they play a vital role in supporting the Recreation and Community Services Department's programs. For FY 2023/24, estimated fees to bolster the City's recreation programs amounted to $5,013,499. By the end of the fourth quarter, a total of $4,991,087 had been collected, which is equivalent to 99.6 percent of the revenue estimate.

Fees related to building, engineering, and planning services include charges for building permits, electrical and other building improvement fees, grading, planning, engineering, and environmental services. These fees provide essential support for Planning, Engineering, and Activity Summary - Proposition L
Fiscal Year Revenue Expenses Transfer Net
2006/07 904,903$ -$ 904,903$ 2007/08 5,821,352$ (4,604,947)$ 1,216,405$
2008/09 5,484,149$ (2,556,872)$ 2,927,277$
2009/10 5,257,643$ (3,642,079)$ 1,615,564$
2010/11 5,896,694$ (4,514,101)$ 1,382,593$
2011/12 6,699,693$ (7,340,764)$ (641,071)$
2012/13 6,710,750$ (7,616,199)$ (905,449)$
2013/14 6,906,516$ (7,607,019)$ (700,503)$
2014/15 7,146,376$ (7,721,550)$ (575,174)$
2015/16 7,573,553$ (7,202,238)$ 371,315$
2016/17 7,463,296$ (6,995,776)$ 467,520$
2017/18 7,935,924$ (7,154,501)$ 781,423$
2018/19 8,274,145$ (7,322,355)$ 951,790$
2019/20 8,669,604$ (7,486,129)$ 1,183,475$
2020/21 10,351,761$ (7,673,314)$ 2,678,447$
2021/22 12,009,138$ (7,859,046)$ 4,150,092$
2022/23 11,950,840$ (8,042,552)$ 3,908,289$
2023/24*11,874,115$ (8,235,600)$ (4,040,432)$ (401,917)$ Inception-to-date 136,930,452$ (113,575,041)$ (4,040,432)$ 19,314,979$ *Transferred per CC resolution 2024-67 to provide additional funding for the Fire Station #3 construction project. 11/12/2024 D4 7 of 28

Building activities and services. The total estimated fees budgeted for FY 2023/24 to sustain these programs were $3,950,500. By the end of the fourth quarter, collections had reached $4,920,737, or 125.2 percent of the total revenue estimate, underscoring strong financial support.

While the City does not levy charges for fire calls to residents, fees are assessed for services such as building inspections, ambulance services, weed and lot clearing, and various miscellaneous items. The City also receives reimbursements for fire services provided to other agencies during incidents. These reimbursements are not initially included in the budget projections, but appropriations are made as funds are received from the State to cover out-of- area fire costs. The total estimated fees budgeted for FY 2023/24 to support these city services, primarily administered by the Fire Department, amounted to $10,546,565. Within this total, $3,991,528 represents an estimated amount to be received from the Vista Fire Protection District for fire and emergency medical services provided to the District. The agreement between the City and the District stipulates that the District will pay the City a portion of its revenues as they are received. However, since most of the District's revenues come from property taxes, substantial payments are not expected until the second half of the fiscal year. By the end of the fourth quarter, $10,550,858 had been collected for fire-related services, or 100.0 percent of the total revenue estimate, emphasizing robust financial support in this area.

Investment Rates: In the fourth quarter of 2023/24, the Federal Reserve Board, commonly known as "the Fed," opted to maintain prevailing interest rates. This strategic decision highlights the Fed's commitment to a continued effort to confront elevated inflation, while being cognizant of the risks of pushing the economy into recession. If macroeconomic indicators continue towards a softening economy, the Fed is very likely to reduce the Federal Funds Rate to avoid a significant recession. According to the Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI)—a key measure of inflation that tracks the average change in prices over time— decreased to 3.0 percent in June 2024. This represents a notable reduction of 0.5 percent from March 2024 but reflects no change from June 2023. Historically, lower interest rates tend to increase loan demand, thereby encouraging economic growth; however, they can also lead to inflationary pressures. Notably, various inflation indicators continued their decline in June 2024.

The yield on the City's investment portfolio typically mirrors broader interest rate movements.

This correlation arises because funds, usually invested for five-year periods to maximize returns, become available for reinvestment at prevailing interest rates upon maturity. The City employs a strategic approach to managing its portfolio, focusing on long-term value optimization. This may involve prioritizing short-term positions when the yield curve aligns with this strategy. Nonetheless, the City remains committed to maintaining the portfolio's duration in accordance with its stated index benchmark while ensuring sufficient liquidity to meet current liabilities.
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Prior Year Current Year
Budget 6/30/2023 % Received Budget 6/30/2024 % Received Taxes:

Property Tax 15,810,378$ 16,205,382$ 102.50%17,175,457$ $16,947,220 98.67% Homeowners Property Tax Relief 82,000 78,263 95.44%81,178 $75,235 92.68% Real Property Transfer Tax 535,860 528,692 98.66%545,415 $634,510 116.34% VLF Property Tax Compensation 12,028,661 12,026,572 99.98%12,967,737 $12,975,044 100.06% AB 1484 Property Tax Payment (RDA)2,251,552 3,539,557 157.21%3,645,743 $4,169,782 114.37% Sales and Use Tax 23,403,744 23,311,150 99.60%22,472,193 $22,607,089 100.60% Medical Cannabis Tax 4,466,396 6,918,195 154.89%6,500,000 $6,540,061 100.62% Proposition L Sales Tax 12,115,389 11,950,840 98.64%11,913,610 $11,874,115 99.67% SB 172 Sales Tax 913,036 911,529 99.83%916,090 $917,848 100.19% Transient Occupancy Tax 1,952,871 2,101,882 107.63%1,991,928 $2,161,020 108.49% Franchise Tax 3,830,271 4,393,903 114.72%4,008,676 $4,606,253 114.91% Type Total 77,390,158 81,965,964 105.91%82,218,027 83,508,176 101.57% Licenses and Permits:

Business Licenses 2,337,650 2,374,283 101.57%2,465,400 2,372,996 96.25% Bingo Licenses 12,000 15,011 125.09%15,000 13,942 92.94% Other Licenses 20,785 449,469 2162.47%246,470 76,819 31.17% Type Total 2,370,435 2,838,764 119.76%2,726,870 2,463,757 90.35% Intergovernmental:

Motor Vehicle In-Lieu Fees 50,000 102,800 205.60%123,317 123,318 100.00% Reimbursement of Mandated Costs 75,000 77,442 103.26%286,985 287,869 100.31% AB 939 Trash Fees 43,500 48,678 111.90%48,674 45,802 94.10% Grants 1,383,867 1,663,843 120.23%7,203,369 3,664,751 50.88% Other 62,500 61,387 98.22%21,451 77,648 361.98% Type Total 1,614,867 1,954,151 121.01%7,683,796 4,199,388 54.65% Charges For Services:

Recreation Fees 630,472 468,045 74.24%550,988 577,556 104.82% Amphitheater Programs 3,241,525 3,553,297 109.62%3,944,722 3,823,886 96.94% Facility Rentals 122,415 154,684 126.36%131,772 154,854 117.52% Rancho Programs 110,900 152,223 137.26%181,433 170,047 93.72% Day Camp Programs 170,820 225,799 132.19%204,584 264,744 129.41% Building Fees 1,802,500 2,581,151 143.20%1,865,500 2,354,285 126.20% Engineering Fees 975,000 1,865,666 191.35%1,635,000 2,110,608 129.09% Planning Fees 425,000 875,455 205.99%430,000 455,844 106.01% Fire Fees 463,884 527,115 113.63%586,531 757,535 129.16% Ambulance Fees 4,125,766 4,897,724 118.71%5,968,506 5,641,238 94.52% Charges To Fire Protection District 3,572,234 3,875,270 108.48%3,991,528 4,152,085 104.02% Charges To School District 180,000 165,332 0.00%370,329 370,329 100.00% Interdepartmental Direct Service Costs 4,203,709 3,803,709 90.48%4,432,987 4,032,987 90.98% Other 271,254 99,247 36.59%60,441 80,101 132.53% Type Total 20,295,479 23,244,718 114.53%24,354,321 24,946,099 102.43% Fines and Forfeitures:

Vehicle Code Fines 150,000 156,499 104.33%150,000 184,601 123.07% Red Light Citations - 14,138 0.00%- 16,240 0.00%
Parking Fines 926,500 966,366 104.30%926,200 1,002,177 108.20% Other 288,010 493,718 171.42%317,010 291,974 92.10% Type Total 1,364,510 1,630,722$ 119.51%1,393,210$ 1,494,992$ 107.31% Continued

GENERAL FUND REVENUE SUMMARY
TWELVE MONTHS ENDED JUNE 30, 2024
EXHIBIT 2

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Prior Year Current Year
Budget 6/30/2023 % Received Budget 6/30/2024 % Received Use of Money and Property:

Investment Income 1,056,473$ 2,815,522$ 266.50%2,607,237$ 3,860,051$ 148.05% GASB 31 Adjustment - (1,437,694) 0.00%- 2,815,071 0.00% Lease Income 860,750 1,139,689 132.41%730,662 1,019,105 139.48% Other - 1,450,302 0.00%- 312,350 0.00% Type Total 1,917,223 3,967,819 206.96%3,337,899 8,006,578 239.87% Other Revenue:

Sale of City Property - 49,199 0.00%- 140,082 0.00% Underground In-Lieu Fees - (62,217) 0.00%- - 0.00% Recycling Revenues 500 1,654 330.77%1,000 836 83.56% Fund Raising and Contributions 493,600 255,688 51.80%422,500 476,050 112.67% Other 168,555 284,381 168.72%171,146 320,630 187.34% Type Total 662,655 528,706 79.79%594,646 937,598 157.67% Total Revenue 105,615,328$ 116,130,844$ 109.96%122,308,769$ 125,556,588$ 102.66% Other Financing Sources:

Transfers In 509,909 513,037 100.61%491,528 509,126 103.58% Use of Reserves 3,078,936 - 0.00%2,829,241 24,387 0.86% Type Total 3,588,845 513,037 14.30%3,320,769 533,513 16.07% Total Resources 109,204,172$ 116,643,881$ 106.81%125,629,539$ 126,090,101$ 100.37% Detail Of Use Of Reserves:

Abandoned Vehicle Abatement 28,251 -
Community Project Reserve 222,320 -
Fire Equipment Replacement Reserve 2,349,964 -
Miscellaneous 228,706 -
2,829,241$ -$

GENERAL FUND REVENUE SUMMARY
TWELVE MONTHS ENDED JUNE 30, 2024
Exhibit 03 Page 2 of 211/12/2024 D4 11 of 28

EXHIBIT 3

8.1%

17.6%

25.3%

32.0%

39.8%

50.8%

57.9%

65.2%

73.3%

80.8%

92.0%
100.0%

8.3%

16.0%

25.8%

34.0%

41.5%

51.3%

59.2%

66.7%

75.6% Estimated

83.7%

92.9%
100.6%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%
100.0%
110.0%

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUNE %
O
F
B
U
D
G
E
T
R
E
C
E
I
V
E
D
MONTH
2023/24 SALES TAX YEAR-TO-DATE

BUDGET TARGET
ACTUAL
11/12/2024 D4 12 of 28

0.73%1.45%2.85%

10.08%

24.58%

53.41%54.56%

63.44%

72.70%

75.81%

96.40%
100.00%

0.77%0.77%

1.93%4.16%

20.75%

28.18%

53.35%54.78%

71.44%73.14%

93.44%
101.12%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

80.00%

90.00%
100.00%
110.00%
120.00%
01 02 03 04 05 06 07 08 09 10 11 12
%
O
F
B
U
D
G
E
T
R
E
C
E
I
V
E
D

APPORTIONMENT NUMBER
2023/24 PROPERTY TAX YEAR-TO-DATE

BUDGET TARGET
ACTUAL
11/12/2024 D4 13 of 28

Expended %Expended %
Budget As Of Expended Budget As Of Expended
2022/23 6/30/2023 2022/23 2023/24 6/30/2024 2023/24
GENERAL FUND:

General Government:

City Council 726,701$ 698,085$ 96.06% 785,064$ 766,071$ 97.58% City Manager 1,566,723 1,479,062 94.40% 1,253,471 1,142,705 91.16% Economic Development 766,998 615,598 80.26% 920,671 712,010 77.34% Human Resources 1,314,693 1,207,286 91.83% 1,501,142 1,334,374 88.89% City Clerk 811,288 675,944 83.32% 753,086 723,945 96.13% Finance 2,769,897 2,436,563 87.97% 3,016,572 2,682,151 88.91% City Attorney 1,733,203 1,262,384 72.84% 1,805,307 1,382,514 76.58% Contract Legal Contingencies 277,643 69,636 25.08% 222,461 115,429 51.89% Non-Departmental Expenditures 5,642,126 4,828,776 85.58% 3,314,701 2,236,201 67.46% Total General Government 15,609,272 13,273,333 85.03% 13,572,475 11,095,400 81.75% Public Safety:

Law Enforcement 28,340,259 27,375,004 96.59% 29,236,345 28,199,383 96.45% School Safety Program 25,744 24,850 96.53%25,744 24,678 95.86% Code Enforcement 2,360,676 2,204,783 93.40% 2,558,383 2,259,822 88.33% Fire Administration 1,581,944 1,497,752 94.68% 1,700,972 1,574,947 92.59% Fire Training 397,072 367,945 92.66%586,457 526,538 89.78% Fire Maintenance 3,631,313 2,032,712 55.98% 2,222,046 2,137,033 96.17% Fire Suppression 21,174,228 16,653,581 78.65% 22,692,516 19,105,419 84.19% Fire Prevention 1,073,880 909,438 84.69% 1,263,588 957,325 75.76% Emergency Medical Services 7,728,889 6,958,515 90.03% 10,782,272 9,056,933 84.00% Disaster Preparedness 505,410 290,130 57.40%460,260 379,219 82.39% Total Public Safety 66,819,415 58,314,712 87.27%71,528,583 64,221,297 89.78% Community Development:

Engineering 1,288,731 757,562 58.78% 1,292,034 887,899 68.72% Traffic Engineering 759,315 687,573 90.55%942,252 897,976 95.30% Planning 2,753,842 1,462,648 53.11% 2,700,159 1,499,281 55.53% Land Development 1,080,615 1,003,125 92.83% 1,480,192 1,224,267 82.71% Development Services 1,967,443 1,792,974 91.13% 2,146,660 1,815,539 84.58% Total Community Development 7,849,945 5,703,881 72.66% 8,561,297 6,324,962 73.88% Community Services:

Community Services Administration 708,712 648,985 91.57%805,602 681,122 84.55% Recreation Programs 1,910,016 1,587,702 83.13% 1,986,332 1,700,786 85.62% Rancho Buena Vista Adobe 261,347 217,017 83.04%238,239 218,313 91.64% Senior Services 926,477 649,307 70.08% 1,269,172 790,416 62.28% Housing & Homelessness - - 0.00% 8,994,487 2,949,188 32.79% Cultural Arts 4,612,471 4,296,956 93.16% 5,148,449 5,333,158 103.59% Total Community Services 8,419,023 7,399,966 87.90% 18,442,281 11,672,982 63.29% Public Works:

Public Works Administration 1,424,392 1,075,281 75.49% 1,656,872 1,276,396 77.04% Graffiti Abatement 286,438 267,570 93.41%302,709 279,482 92.33% Park Maintenance 2,462,809 2,183,360 88.65% 3,098,480 2,770,491 89.41% Parkways and Medians 438,232 387,570 88.44%833,244 458,318 55.00% Total Public Works 4,611,872 3,913,780 84.86% 5,891,305 4,784,687 81.22% Transfers Out To Other Funds 23,047,998 16,823,278 72.99%36,574,232 28,138,405 76.94% Total General Fund Expenditures 126,357,525$ 105,428,952$ 83.44% 154,570,173$ 126,237,734$ 81.67%

GENERAL FUND EXPENDITURE SUMMARY
TWELVE MONTHS ENDED JUNE 30, 2024
EXHIBIT 4
11/12/2024 D4 14 of 28

Original
Budget Adjustments Total
BEGINNING REVENUE ESTIMATE JULY 1, 2023 116,593,038$ -$ 116,593,038$ Recreation fees 26,667 26,667
Amphitheater program 320,922 320,922
Building fees 63,000 63,000
Engineering fees 300,000 300,000
Fire fees 340,831 340,831
Ambulance fees 477,814 477,814
Charges to VFPD 255,294 255,294
Charges to VUSD 59,832 59,832
Motor vehicle in-liue 47,574 47,574
Mandated costs 211,985 211,985
Grants 5,536,131 5,536,131
Other intergovernmental 14,451 14,451
Investment Income 650,000 650,000
Other 10,000 10,000
Transfers in 128,260 128,260
Property taxes 430,364 430,364
Sales and Use tax (678,157) (678,157)
SB 172 sales taxes (11,125) (11,125)
VLF property tax 177,858 177,858
Prop L sales tax (106,815) (106,815)
AB 1484 proeprty tax 1,281,614 1,281,614
Cannabis tax (500,000) (500,000)
ENDING REVENUE ESTIMATE JUNE 30, 2024 116,593,038$ 9,036,501$ 125,629,539$ BEGINNING APPROPRIATIONS ESTIMATE JULY 1, 2023 115,283,305$ -$ 115,283,305$ City council - 7,500 7,500
City manager - - -
Code enforcement - 3,045 3,045
Human resources - 25,000 25,000
Finance - 778,896 778,896
City of attorney - 14,465 14,465
Contract legal contingencies - 22,461 22,461
Non-Departmental - 1,858,662 1,858,662
Law enforcement - 888,512 888,512
Fire administration - 6,468 6,468
Fire traininig - 84,346 84,346
Fire maintenance - 24,022 24,022
Fire suppresion - 4,833,560 4,833,560
Fire prevention - (1,864) (1,864)
Emergency medical services - (694,057) (694,057)
EMT program 1,258,753 1,258,753
Disaster preparedness - 290,853 290,853
Traffic engineering - 118,542 118,542
Planning - 1,265,022 1,265,022
Land development - 366,855 366,855
Development services - 109,594 109,594
Housing & homeless servicees - 7,305,252 7,305,252
Economic development - 241,586 241,586
Public works administration - 656,003 656,003
Graffiti abatement - 1,660 1,660
Community service administration - 59,412 59,412
Recreation programs - 71,667 71,667
Park maintenance - 411,175 411,175
Parkways & medians - 353,323 353,323
Senior services - 419,378 419,378
Cultural arts - 743,218 743,218
Transfer out to other funds - 19,022,312 19,022,312
ENDING APPRPRIATIONS ESTIMATE JUNE 30, 2024 115,283,305$ 40,545,621$ 155,828,926$

RECONCILIATION OF ORIGINAL
AS OF JUNE 30, 2024

REVENUE AND APPROPRIATIONS ESTIMATES
EXHIBIT 5
11/12/2024 D4 15 of 28

General
Nonspendable:

Prepaid Costs 1,829,772$
Due from Successor Agency 625,000 2,454,772$
Restricted:

Public Safety 306,969
SB 1186 disability access and education 158,404
Aerial Equipment Fee 305,116
Housing 1,445,552
Pension trust 21,350,663
Cable PEG Fund 1,568,175
Underground Utilities 331,961 25,466,840
Committed:

Moonlight facilities 579,551
Park cellular 1,012,607
Senior facility maintenance 200,000
Propostion "L" projects 19,314,979
AB 1484 property tax distribution 20,820,634
Other purposes 15,614,226 57,541,997
Assigned:

Public works 158,125
Capital projects 4,521,477
Community projects 1,448,571
Economic development priorities 123,280
Park maintenance improvements 441,755
800 MHz radio replacement 541,221
Fire equipment replacement 6,178,455
Climate action plan 685,110
Excess Cannibas Revenue 2,073,665
Wave waterpark 46,000
Other purposes 1,283,494 17,501,153
Unassigned
Emergency Reserve 34,494,441
Available June 30, 2024 fund balance 6,718,241
Petty Cash 6,725
Less Nonspendable Amounts (2,454,772)
Unrealized investment gains (losses)(3,484,012) 35,280,623 Total fund balances 138,245,385$

GENERAL FUND FUND BALANCE
As of June 30, 2024
EXHIBIT 6
11/12/2024 D4 16 of 28

Buena Waterpark Cal Trash
City Sanitation Enterprise Enterprise
Sewer District Activity Activity Totals
ASSETS:

Cash and investments 54,487,014$ 40,343,033$ 1,385,873$ 6,587,492$ 102,803,413$ Accounts receivable 51,365 8,474 -621,722 681,561 Due from others 1,577,613 115,311 --1,692,924 Deposits 932,463 237,900 --1,170,363 Inventory 24,451 ---24,451
Land 825,219 293,610 942,473 -2,061,302 Fixed assets-net 158,498,460 63,832,827 1,768,749 14,785 224,114,822 Construction in progress 11,537,178 7,119,401 725,228 -19,381,807 Total assets 227,933,763 111,950,557 4,822,323 7,223,999 351,930,641 DEFERRED OUTFLOWS OF RESOURCES:

Deferred outflows pension 1,297,388 453,344 209,858 55,102 2,015,692 Total deferred outflows of resources 1,297,388 453,344 209,858 55,102 2,015,692 LIABILITIES:

Accounts payable 903,102 2,894,529 196,466 12,772 4,006,868 Compensated absences 279,469 144,992 62,171 11,938 498,570 Interest payable 97,430 492 --97,922
Deferred/unearned revenues 3,591,304 1,224,785 --4,816,089 State Revolving Fund loans 21,982,684 ---21,982,684 Net pension liability 3,897,263 1,555,461 524,060 137,255 6,114,039 Total liabilities 30,751,253 5,820,258 782,697 161,965 37,516,172 DEFERRED INFLOWS OF RESOURCES:

Deferred inflows pension 2,816 1,124 378 98 4,416
Total deferred inflows of resources 2,816 1,124 378 98 4,416 NET POSITION:

Net investment in capital assets 192,843,541 71,245,838 3,436,450 14,785 267,540,614 Restricted for capital projects 12,616,423 11,271,734 277,584 537,534 24,703,275 Unrestricted (6,982,882) 24,064,947 535,072 6,564,720 24,181,856 Total net position 198,477,082$ 106,582,519$ 4,249,106$ 7,117,038$ 316,425,745$

CITY OF VISTA

ENTERPRISE FUNDS

COMBINED BALANCE SHEET
June 30, 2024
EXHIBIT 7
11/12/2024 D4 17 of 28

Buena Waterpark Cal Trash
City Sanitation Enterprise Enterprise
Sewer District Activity Activity Totals
REVENUES:

Charges for service 24,248,854$ 8,618,201$ -$ 2,643,649$ 35,510,704$ Grants $176,768.70 - - - 176,769
Interest $1,275,766.00 1,002,174 18,450 145,567 2,441,957 Unrealized Gains (Losses)$800,846.80 645,659 (15,732) 7,873 1,438,647 Unstructured programs - - 688,188 - 688,188
Structured programs - - 208,792 - 208,792
Concessions sales - - $259,639.05 - 259,639
Rentals - - 351,589 - 351,589
Other 162,977 31,647 1,685 - 196,309
Total revenues 26,665,212 10,297,681 1,512,611 2,797,089 41,272,593 EXPENSES:

Administration 829,116 389,295 2,852,214 - 4,070,625 Treatment-Encina 104,454 (97,612) - - 6,842
Engineering 7,637,572 3,447,322 - - 11,084,894
Stormwater engineering 1,126,063 - - - 1,126,063
Field operations 2,839,246 1,622,848 - - 4,462,094
Stormwater maintenance 1,726,227 - - - 1,726,227
Operations and maintenance - - - 478,154 478,154 Depreciation 8,310,152 2,383,431 - - 10,693,582
Debt service 440,822 - - - 440,822
Capital improvements 7,195,944 5,949,319 27,177 - 13,172,440 Total expenses 30,209,594 13,694,602 2,879,391 478,154 47,261,742 Revenues over (under)
expenses (3,544,382) (3,396,921) (1,366,780) 2,318,935 (5,989,148) Capital improvements & equip 4,698,125 4,590,249 27,177 - 9,315,551 classified to fixed assets
Developer contributed sewer lines 340,413 305,195 - - 645,608 Transfers in (out)479,185 (479,185) 1,334,914 - 1,334,914 Prior period adjustment - - - - -
Net position at June 30, 2023 196,503,742 105,563,181 4,253,794 4,798,103 311,118,821 Net position at June 30, 2024 198,477,082$ 106,582,519$ 4,249,106$ 7,117,038$ 316,425,745$

CITY OF VISTA

ENTERPRISE FUNDS

COMBINED INCOME STATEMENT

FOR THE FISCAL YEAR ENDED
June 30, 2024
EXHIBIT 8
11/12/2024 D4 18 of 28

00029213 7
RESOLUTION NO. 2024-

A RESOLUTION OF THE CITY COUNCIL OF THE CHARTERED CITY OF

VISTA, CALIFORNIA, AMENDING THE OPERATING BUDGET FOR FISCAL YEARS 2023/24 AND 2024/25, AND AMENDING THE CAPITAL PROJECT BUDGET FOR FISCAL YEARS 2024/25 AND 2025/26
The City Council of the City of Vista does resolve as follows:

1.Findings. The City Council hereby finds and declares the following:

A.On June 27, 2023 the City Council adopted Resolution 2023-117 approving the Operating Budget for Fiscal Years 2023/24 and 2024/25.

B.On June 11, 2024 the City Council adopted Resolution 2024-86, approving the Six-Year Capital Improvement Program, the Capital Project Budget for Fiscal Years 2024/25 AND 2025/26, and authorizing appropriations for Fiscal Years 2024/25 and 2025/26 capital projects.

C.The City Council desires to amend the Operating and Capital Project Budgets at this time to reflect changed circumstances.

2.Action.

A.The Operating Budget for Fiscal Years 2023/24 and 2024/25 and the Capital Project Budget for Fiscal Years 2024/25 and 2025/26 are amended as set forth in Exhibit A.

3.Adoption. PASSED AND ADOPTED at a meeting of the City Council of the City of Vista held on November 12, 2024, by the following vote:

AYES:

NOES:

ABSTAIN:

APPROVED AS TO FORM:

WALTER CHUNG, CITY ATTORNEY
By:

JOHN B. FRANKLIN, MAYOR
ATTEST:

KATHY VALDEZ, CITY CLERK
By:

APPROVED
Walter C. Chung
20240917153352
11/12/2024 D4 19 of 28
EXHIBIT 9

FY 2023/24 Recommended Uses of Year-End Fund Balance
City Council Goal Amount ($)Project Project Description ORG OBJECT PROJ Public Safety 350,000.00 Storm Water Maintenance Fund Reserve for future storm water asset maintenance 0010000 310722 Public Safety 190,000.00 Sheriff’s Substation Security Improvements
Fencing and structural modifications to provide security at new substation 0026555 578999 8351
Public Safety 35,000.00 EOC Software Software for Emergency Operations Center functionality 0010290 513530 YE24 Traffic 1,000,000.00 Traffic Calming Reserve Fund Reserve for future traffic calming and speed hump projects 0010000 310753
Traffic 700,000.00 Traffic Signal Fiber
Connections
Connect nine traffic signals to fiber network for reliable signal communications 0026555 578999 8386
Economic Development 25,000.00 Street Closures for Downtown Special Events
Funding for street closures for promotional events
downtown 0010370 531500 YE24
Economic Development 60,000.00 Community Engagement Social media boosting, videographer, and promotional
materials for city-wide communications and Economic
Development
0010145 531500 YE24A
Economic Development/
Climate Responsibility 15,000.00 Cyclovia 2025 Cyclovia event in 2025 0010145 531500 YE24C Climate and Environmental
Responsibility 50,000.00 Tree Program Expand the City's Tree Program to include commercial properties and HOA's 0010145 531500 YE24B
Parks and Recreation 390,000.00 Shade Sails at 4 City Parks Shade sails at Thibodo, Shadowridge, Breeze Hill and S.

Buena Vista parks 0026555 578999 8387
Parks and Recreation 120,000.00 Calsense Controllers upgrades Upgrade all of our outdated Calsense irrigation controllers to CS3000's 0010525 562000 YE24
Climate and Environmental
Responsibility 1,495,534.00 Electric Car Charging Stations Blink EV Chargers as part of the Electric Car Charging
Stations Project (Staff is actively seeking a Grant and if awarded funding will be repurposed to the Slurry Seal
project)
0026555 578999 8902
Homelessness & Housing 100,000.00 Property Improvements and rehabilitation Ascot repairs/maintenance 0010355 562000 ASCOT Fiscal Responsibility 2,187,707.35 GF Emergency Reserve Contribution
Achieves the midpoint of the 30-35% policy range for GF Emergency Reserves as of FY 2024/25 Mid-term Budget 0010000 310711 TOTAL 6,718,241.35 1 of 211/12/2024 D4 20 of 28

FY 2023/24 Recommended Uses of Year-End Fund Balance (Excess Cannabis Revenue) City Council Goal Amount ($)Project Project Description ORG OBJECT PROJ Parks & Recreation 888,713.75 Scholarship Program Staffing, software, and funding to extend the City's
current scholarship program. Program split between
Extra-curricular (80%) and Academic (20%)
0010145 531500 YC24A
Public Safety 10,000.00 Educational/Community Special Events Special events for community safety and education 0010200 531500 YC24A Public Safety 20,000.00 Youth Law Enforcement Programs Materials for youth program events and meetings 0010200 531500 YC24B Public Safety 200,000.00 ADA Transition Plan Update ADA Transition plan update and associated software to
track completion and document our efforts in making our facilities, parks, and programs accessible to all
6010150 531500 YC24
Cleaner Vista 75,000.00 Graffiti Pilot Program Costs for up to 5 murals in high profile graffiti locations 0010145 531500 YC24B Parks 200,000.00 Park Restroom Maintenance
Reserve Reserve for park restroom maintenance and repairs 0010000 310765 Homelessness & Housing 50,000.00 Vehicle for Homeless Program- BPO and outreach
Vehicle for Housing & Homelessness division for
outreach 0010355 562000 YC24
Homelessness & Housing 200,000.00 Emergency Rental Assistance Program
Extend Emergency Rental Assistance Program with
additional requirements 0010355 531500 YE24
Homelessness & Housing 429,951.66 Outreach
Continue outreach programs through FY 2025/26 due to
reduced funding from PLHA and new program
requirements
0010355 521040 YE24
TOTAL 2,073,665.41
2 of 211/12/2024 D4 21 of 28

Vista City Council Policy
200-19 USE OF YEAR END FUND BALANCE AND GENERAL FUND

RESERVES

PURPOSE
Establish guidelines for the use of any funds remaining at the end of a fiscal year commonly referred to as a “Year End Fund Balance”).

POLICY
Any available amount of a Year End Fund Balance should be strategically used to meet current budget year needs, enhance the City’s infrastructure, strengthen the City’s financial position, or support one-time uses that align with the City Council’s adopted goals. Given these criteria, use of a Year End Fund Balance is authorized for the following purposes:

1. If existing, close any remaining structural deficit amount in the budget.

2. Maintain the City’s Emergency Reserve Account at a range of 30% to 35% of the greater of the two fiscal years’ original General Fund appropriations (including Transfers Out to other funds) within the current biennial Operating Budget or the second year (mid-term) amended and adopted Operating Budget of the same.

3. Maintain the City’s Section 115 Pension Trust balance to a range of 1.0 to

1.5 times the total annual CalPERS pension obligation (both Unfunded Actuarial Liability and Normal Costs) of the greater of the two fiscal years’ original pension expenditure appropriations within the current biennial Operating Budget or the second year (mid-term) amended and adopted Operating Budget of the same.

4. Other uses as identified in the current fiscal year fourth quarter financial report, or as directed by a majority of the City Council.

Items are ranked in priority order. Funds required to satisfy Item #1, if needed, should be allocated in full. After Item #1 has been satisfied, any remaining Year End Fund Balance may be allocated to Items 2 through 4, by a majority vote of the City Council.

HISTORY
Adopted June 14, 2011, City Council Resolution No. 2011-121.

Amended October 11, 2016, City Council Resolution No. 2016-151.

Amended November 13, 2018, City Council Resolution No. 2018-175.

Amended October 24, 2023, City Council Resolution No. 2023-185.

Amended September 24, 2024, City Council Resolution No. 2024-154 200-19 (1)
11/12/2024 D4 22 of 28
EXHIBIT 10

PRIOR ACTIONS
Fiscal Year 2023/24 Fourth Quarter Financial Report
On May 28, 2024, received and filed the Fiscal Year 2023/24 Third Quarter Financial Report.; adopted City Council Resolution No. 2024-70, amending the Operating Budget for Fiscal Years 2023/24 and 2024/25 and amending the Capital Project Budget for Fiscal Years 2022/23 and 2023/24; adopted Buena Sanitation District Resolution No. 2024-2, amending the Operating Budget for Fiscal Years 2023/24 and 2024/25; adopted City Council Resolution No. 2024-71, amending the City-Wide Classification and Compensation Index and repealing the provisions of any resolutions in conflict herewith; and adopted City Council Resolution No. 2024-72, approving a Letter of Agreement between the City of Vista and the Vista City Maintenance Association and repealing the provisions of any resolutions in conflict herewith. (Vote 5-0) On March 12, 2024, received and filed the Fiscal Year 2023/24 Second Quarter Financial Report; adopted City Council Resolution No. 2024-36, amending the Operating Budget for Fiscal Years 2023/24 and 2024/25 and amending the Capital Project Budget for Fiscal Years 2022/23 and 2023/24; adopted Buena Sanitation District Resolution No. 2023-10, amending the Operating Budget for Fiscal Years 2023/24 and 2024/25; and adopted City Council Resolution No. 2024-37, amending the City-Wide Classification and Compensation Index and repealing the provisions of any resolutions in conflict herewith. (Vote: 4-0, O’Donnell absent) On December 12, 2023, received and filed the Fiscal Year 2023/24 First Quarter Financial Report; adopted City Council Resolution No. 2023-218, amending the Operating Budget for Fiscal Years 2023/24 and 2024/25 and amending the Capital Project Budget for Fiscal Years 2022/23 and 2023/24; adopted Buena Sanitation District Resolution No. 2023-10, amending the Operating Budget for Fiscal Years 2023/24 and 2024/25; and adopted City Council Resolution No. 2023- 219, amending the City-Wide Classification and Compensation Index and repealing the provisions of any resolutions in conflict herewith. (Vote: 5-0)
On November 14, 2023, received and filed the Fiscal Year 2022/23 Fourth Quarter Financial Report and adopted City Council Resolution No. 2023-202, amending the Operating Budget for Fiscal Years 2023/24 and 2024/25 and amending the Capital Project Budget for Fiscal Years 2022/23 and 2023/24 as revised by City Council. (Vote: 5-0) On May 23, 2023, received and filed the Fiscal Year 2022/23 Third Quarter Financial Report; adopted City Council Resolution No. 2023-87, amending the Operating Budget for Fiscal Years 2021/22 and 2022/23 and amending the Capital Project Budget for Fiscal Years 2022/23 and 2023/24; adopted Buena Sanitation District Resolution No. 2023-1, amending the Operating Budget for Fiscal Years 2021/22 and 2022/23; and adopted City Council Resolution No. 2023- 88, amending the City-Wide Classification and Compensation Index and repealing the provisions of any resolutions in conflict herewith. (Vote: 5-0) One March 14, 2023, received and filed the Fiscal Year 2022/23 Second Quarter Financial Report; adopted City Council Resolution No. 2023-36, amending the Operating Budget for Fiscal Years 2021/22 and 2022/23 and amending the Capital Project Budget for Fiscal Years 2022/23 and 2023/24; and adopted City Council Resolution No. 2023-37, amending the City- Wide Classification and Compensation Index and repealing the provisions of any resolutions in conflict herewith. (Vote: 5-0)
On December 15, 2022, received and filed the Fiscal Year 2022/23 First Quarter Financial 11/12/2024 D4 25 of 28
EXHIBIT 13

Report; adopted City Council Resolution No. 2022-188, amending the Operating Budget for Fiscal Years 2021/22 and 2022/23 and amending the Capital Project Budget for Fiscal Years 2022/23 and 2023/24; and adopted City Council Resolution No. 2022-189, amending the City- Wide Classification and Compensation Index and repealing the provisions of any resolutions in conflict herewith. (Vote: 5-0)

On November 15, 2022, received and filed the Fiscal Year 2021/22 Fourth Quarter Financial Report; adopted City Council Resolution No. 2022-172, amending the Operating Budget for Fiscal Years 2021/22 and 2022/23 and amending the Capital Project Budget for Fiscal Years 2021/22 and 2022/23; and adopted Buena Sanitation District Resolution 2022-21, amending the Operating Budget for Fiscal Years 2021/22 and 2022/23. (Vote: 5-0) On May 10, 2022, received and filed the Fiscal Year 2021/22 Third Quarter Financial Report and adopted City Council Resolution No. 2022-70, amending the Operating Budget for Fiscal Years 2021-22 and 2022/23. (Vote: 5-0)
On March 8, 2022, received and filed the Fiscal Year 2021/22 Second Quarter Financial Report; adopted City Council Resolution No. 2022-37, amending the Operating Budget for Fiscal Years 2021-22 and 2022/23; adopted City Council Resolution No. 2022-38, amending the Citywide Classification and Compensation Index; and adopted Buena Sanitation District Resolution 2022-10, amending the Operating Budget for Fiscal Years 2021/22 and 2022/23. (Vote: 5-0)
On December 14, 2021, received and filed the Fiscal Year 2021/22 First Quarter Financial Report; adopted City Council Resolution No. 2021-217, amending the Operating Budget for Fiscal Years 2021/22 and 2022/23 and amending the Capital Project Budget for Fiscal Years 2020/21 and 2021/22; and adopted Buena Sanitation District Resolution 2021-217, amending the Operating Budget for Fiscal Years 2020/21 and 2021/22. (Vote: 5-0) On November 9, 2021, received and filed the Fiscal Year 2020/21 Fourth Quarter Financial Report; adopted City Council Resolution No. 2021-195, amending the Operating Budget for Fiscal Years 2020/21 and 2022/23 and amending the Capital Project Budget for Fiscal Years 2020/21 and 2021/22; and adopted Buena Sanitation District Resolution 2021-195, amending the Operating Budget for Fiscal Years 2020/21 and 2021/22. (Vote: 5-0) On May 11, 2021, received and filed the Fiscal Year 2020/21 Third Quarter Financial Report; adopted City Council Resolution No. 2021-70, amending the Operating Budget for Fiscal Years 2020/21 and 2021/22 and amending the Capital Project Budget for Fiscal Years 2020/21 and 2021/22; and adopted Buena Sanitation District Resolution 2021-5, amending the Operating Budget for Fiscal Years 2019/20 and 2020/21. (Vote: 5-0) On March 9, 2021, received and filed the Fiscal Year 2020/21 Second Quarter Financial Report; adopted City Council Resolution No. 2021-34, amending the Operating Budget for Fiscal Years 2019/20 and 2020/21 and amending the Capital Project Budget for Fiscal Years 2020/21 and 2021/22; and adopted Buena Sanitation District Resolution 2021-5, amending the Operating Budget for Fiscal Years 2019/20 and 2020/21. (Vote: 5-0) On December 8, 2020, received and filed the Fiscal Year 2020/21 First Quarter Financial Report; adopted City Council Resolution No. 2020-206, amending the Operating Budget for Fiscal Years 2019/20 and 2020/21 and amending the Capital Project Budget for Fiscal Years 11/12/2024 D4 26 of 28

2020/21 and 2021/22; and adopted Buena Sanitation District Resolution 2020-34, amending the Operating Budget for Fiscal Years 2019/20 and 2020/21. (Vote: 5-0) On November 10, 2020, received and filed the Fiscal Year 2019/20 Fourth Quarter Financial Report and adopted City Council Resolution No. 2020-192, amending the Operating Budget for Fiscal Years 2019/20 and 2020/21 and amending the Capital Projects Budget for Fiscal Years 2020/21 and 2021/22. (Vote: 5-0)
On May 12, 2020, received and filed the Fiscal Year 2019/20 Third Quarter Financial Report; adopted City Council Resolution No. 2020-77, amending the Operating Budget for Fiscal Years 2019/20 and 2020/21 and amending the Capital Project Budget for Fiscal Years 2018/19 and 2019/20; and adopted Community Development Commission Resolution No. 2020-2, adopting a Capital Project Budget for Fiscal Years 2018/19 and 2019/20. (Vote: 5-0) On March 10, 2020, received and filed the Fiscal Year 2019/20 Second Quarter Financial Report; adopted City Council Resolution No. 2020-38, amending the Operating Budget for Fiscal Years 2019/20 and 2020/21 and amending the Capital Project Budget for Fiscal Years 2018/19 and 2019/20; and adopted Buena Sanitation District Resolution No. 2020-5, amending the Capital Project Budget for Fiscal Years 2018/19 and 2019/20 (Vote: 5-0).

On December 10, 2019, received and filed the Fiscal Year 2019/20 First Quarter Financial Report; adopted City Council Resolution No. 2019-163, amending the Operating Budget for Fiscal Years 2019/20 and 2020/21 and amending the Capital Project Budget for Fiscal Years 2018/19 and 2019/20; and adopted City Council Resolution No. 2019-164, amending the City- Wide Classification and Compensation Index and repealing the provisions of any resolutions in conflict herewith. (Vote: 5-0)
On November 12, 2019, received and filed the Fiscal Year 2018/2019 Fourth Quarter Financial Report; adopted City Council Resolution No. 2019-149, amending the Operating Budget for Fiscal Years 2019/20 and 2020/21. (Vote: 5-0)
On May 14, 2019, received and filed the Fiscal Year 2018/19 Third Quarter Financial Report; adopted City Council Resolution No. 2019-59, amending the Operating Budget for Fiscal Year 2018/19 and amending the Capital Budget for Fiscal Years 2018/19 and 2019/20. (Vote: 5-0) On March 12, 2019, received and filed the Fiscal Year 2018/2019 Second Quarter Financial Report; adopted City Council Resolution No. 2019-31, amending the Operating Budget for Fiscal Year 2018/19 and amending the Capital Project Budget for Fiscal Years 2018/19 and 2019/20. (Vote: 5-0)
On November 27, 2018, received and filed the Fiscal Year 2018/2019 First Quarter Financial Report; adopted City Council Resolution No. 2018-181, amending the Operating Budget for Fiscal Year 2018/19 and amending the Capital Project Budget for Fiscal Years 2018/19 and 2019/20; and adopted Buena Sanitation District Resolution No. 2018-23, amending the Capital Project Budget for Fiscal Years 2018/19 and 2019/20. (Vote: 5-0) On November 13, 2018, received and filed the Fiscal Year 2017/18 Fourth Quarter Financial Report; adopted City Council Resolution No. 2018-174, amending the Operating Budget for the 2018/19 Fiscal Year and Capital Project Budget for the 2018/19 and 2019/20 Fiscal Years; and adopted City Council Resolution No. 2018-175, amending City Council Policy 200-19, Use of Year End Fund Balance. (Vote: 5-0)
11/12/2024 D4 27 of 28

On May 8, 2018, received and filed the Fiscal Year 2017/18 Third Quarter Financial Report; adopted City Council Resolution No. 2018-65, amending the Operating and Capital Budgets for the 2017/18 Fiscal Year; and adopted City Council Resolution No. 2018-66, amending the City-Wide Classification and Compensation Index and repealing the provisions of any resolutions in conflict herewith. (Vote: 5-0)
On February 27, 2018, received and filed the Fiscal Year 2017/18 Second Quarter Financial Report; adopted City Council Resolution No. 2018-23, amending the Operating and Capital Improvement Program Budgets for the 2017/18 Fiscal Year; adopted Buena Sanitation District Resolution No. 2018-5, amending the Operating Budget for the 2017/18 Fiscal Year; and adopted City Council Resolution No. 2018-24, amending the City-Wide Classification and Compensation Index and repealing the provisions of any resolutions in conflict herewith. (Vote:
4-0, Rigby absent)
On November 14, 2017, received and filed the Fiscal Year 2017/18 First Quarter Financial Report; adopted City Council Resolution No. 2017-154, amending the Operating and Capital Project Budgets for the 2017/18 Fiscal Year; adopted Community Development Commission Resolution No. 2017-3, amending the Operating Budget for the 2017/18 Fiscal Year; and adopted City Council Resolution No. 2017-155, amending the City-Wide Classification and Compensation Index and repealing the provisions of any resolutions in conflict herewith. (Vote:
5-0)
On June 27, 2017, adopted City Council Resolution No. 2017-101, approving the Five-Year Capital Improvement Program and Fiscal Year 2017/18 Capital Project Budget and Authorizing Appropriations for Fiscal Year 2017/18 Capital Projects. (Vote: 4-0, Rigby absent) On June 13, 2017, adopted City Council Resolution No. 2017-95; Buena Sanitation District Resolution No. 2017-5; and Community Development Commission Resolution No. 2017-1, approving the Annual Operating Budget for Fiscal Year 2017/18. (Vote: 5-0) 11/12/2024 D4 28 of 28

Vista City CouncilNovember 12, 2024

Vista City Council
November 12, 2024