Waterford City Council
November 21, 2024

AGENDA

WATERFORD CITY COUNCIL - REGULAR MEETING

WATERFORD CITY HALL, CITY COUNCIL
CHAMBERS 101 “E” STREET, WATERFORD, CA

CALL TO ORDER &
FLAG SALUTE: Mayor Goeken
INVOCATION: Pastor Pete Mar, Community Bible Church
ROLL CALL:

Mayor: Charlie Goeken
Vice Mayor: Jill Kitchens
Council Members: Christine Harris, Jamie Hilton, Elizabeth Talbott ADOPTION OF AGENDA:

A member of the City Council motions to accept the items on the agenda for consideration as presented, or motions for any additions, including emergency items, or items pulled from consideration.

CONFLICT OF INTEREST DECLARATION:

Declaration by City Council members who may have a direct Conflict of Interest on any scheduled agenda item to be considered.

1. 2.

This is the portion of the meeting specifically set aside to invite public comments regarding any matters not appearing on the agenda and within the jurisdiction of the City Council or the Successor Agency. Individual audience participation is limited to a maximum of 5 minutes. We encourage you to share your name and address or submit a speaker card to the City Clerk.

3. All Matters listed under the Consent Calendar are considered routine by the Council and will be adopted by one action of the Council unless any Council Member desires to discuss any item or items separately. In that event, the Mayor will remove that item from the Consent Calendar and action will be considered separately.
3a: MOTION: Waiving all Readings of Ordinances and Resolutions, except by title. 3b: RESOLUTION: Adopting Resolution 2024-51, Approving the Warrant Register in the Amount of $444,530.30 for the Period of November 4 to November 12, 2024. 3c: MOTION: Approving Minutes of the Regular City Council Meeting held November 7, 2024.

WATERFORD CITY COUNCIL REGULAR MEETING – November 21, 2024 - 6:30 PM

COMMUNICATIONS FROM THE AUDIENCE

PRESENTATIONS

ADOPTION OF CONSENT CALENDAR

4. 4.

5. 5a: ORDINANCE: Ordinance 2024-07, Approving Planning Commission Recommendation to Introduce an Ordinance approving and adopting Rezone of 8.09± acres; as to Assessor Parcel Number 080-023-004 from Residential Single (RS) District to Planned Community (PC) 2024-02 (PC #2024-02).

RESOLUTION: Resolution 2024-52, Approving Planning Commission Recommendation to adopt a Resolution to approve Vesting Tentative Subdivision Map No. VTSM 2024-0003 to subdivide an 8.09± acre parcel into fifty-two (52) single-family residential lots. (Niskanen)

6. 6a: MOTION: Accept and File the June 30, 2024 Basic Financial Statement for the City of Waterford and the Auditor’s Report on the Financial Statements including the reports on the Abandoned Vehicle Abatement Program, Appropriations Limit Schedule, Single Audit, and the Auditor’s Communication With Those Charged With Governance. (Envia)

7. 8.
8a: City Project List

9. 9a: City Staff
9b: City Council

10. 11.
11a: “PUBLIC EMPLOYEE PERFORMANCE EVALUATION”
(Pursuant to Government Code Section 54957)
- City Manager

CLOSED SESSION

ADJOURNMENT / RECESS

STAFF/COUNCIL COMMENTS AND MEETING REPORTS

INFORMATIONAL ITEMS

SUCCESSOR AGENCY TO THE FORMER WATERFORD REDEVELOPMENT AGENCY

GENERAL BUSINESS

PUBLIC HEARING - FINAL READINGS

PUBLIC HEARINGS

12. NOTICE
REPORTS: Copies of the staff reports or other written documentation relating to each item of business referred to on the agenda are on file in the office of the City Clerk. Any writings or documents provided to a majority of the City Council regarding any item on this agenda (other than writings legally exempt from public disclosure) will be made available for public inspection at the front counter at City Hall during normal business hours.

COMMUNICATIONS FROM THE AUDIENCE: If you wish to address the City Council or the Successor Agency on any item not on the printed agenda, prior to the start of the meeting, or prior to addressing the City Council or the Successor Agency, complete and submit a speaker card and deliver it to the City Clerk. (Please note, speaker cards are not required, however completing a speaker card enables staff to better follow up with you later, if necessary and attribute your comments to you in the minutes of the meeting). When the Mayor calls for “Communications from the Audience,” stand or raise your hand and the Mayor will ask you to approach the podium and state your name and city of residence. It is the policy of the City Council that they will not act on any matter not appearing on the posted agenda. The purpose of the discussion is to permit a member of the public to raise an issue or problem and to permit the City Council to ask questions for clarification of the issue or problem, provide information to the public, provide direction of the City Staff, or schedule the matter for a future meeting. Please hold all comments to five (5) minutes.

PUBLIC COMMENTS RELATED TO AN ITEM ON THE PRINTED AGENDA: Members of the public are entitled to directly address the City Council or the Successor Agency concerning any item that is described on the agenda during consideration of that item. If during a public hearing, the Mayor will direct when the hearing has opened for public comment. If you wish to address the City Council or the Successor Agency on any item listed on this agenda, please complete a speaker card and deliver it to the City Clerk prior to discussion of that item. (Please note, speaker cards are not required, however completing a speaker card enables staff to better follow up with you later, if necessary and attribute your comments to you in the minutes of the meeting.) When your name is called proceed to the podium and state your name and city of residence.

WRITTEN MATERIAL INTRODUCED INTO THE RECORD: Citizens wishing to introduce written material into the record at the public hearing on any item are requested to provide a copy of the written material to the City Clerk prior to the public hearing date and/or prior to the opening of the public hearing so that the material may be distributed to the City Council prior to the public hearing.

NOTICE REGARDING CHALLENGES TO DECISIONS: Pursuant to all applicable laws and regulations, including without limitation, California Government Code Section 65009 and or California Public Resources Code Section 21177, if you wish to challenge in court any decisions (regarding planning, zoning and/or environmental decisions), you may be limited to raising only those issues you or someone else raised at the public hearing(s) described in this notice/agenda, or in written correspondence delivered to the City at, or prior to, the public hearing.

LIVE AND ON-DEMAND VIDEO RECORDINGS OF THE CITY COUNCIL/SUCCESSOR AGENCY: The meeting of the Waterford City Council/Successor Agency can be watched live and on-demand from the City’s website at www.cityofwaterford.org.

AMERICANS WITH DISABILITIES ACT (ADA): In compliance with the Americans with Disabilities Act, if you are a disabled person and you need a disabilityrelated modification or accommodation to participate in this meeting, please contact the City Clerk’s Office at (209) 874-2328 ext. 101 or email:
[email protected]. Requests must be made as early as possible and at least two-full business days before the start of the meeting General Information: The Waterford City Council meets on the 1st and 3rd Thursdays of each month at 6:30PM., unless otherwise noticed.

Council Agenda’s: Copies of City Council Agenda and agenda related writings or documents will be made available for public inspection at the front counter at City Hall located at 101 “E” Street, Waterford, CA 72 hours prior to the meeting, or at the time of the scheduled meeting. 11/13/2024
Patricia Krause, CMC, City Clerk Date

REPORT OUT OF CLOSED SESSION
Consent Calendar 3a
November 21, 2024
Patricia Krause, City Clerk / Administrative Services Director City Council Staff Report
Motion: Waive Readings of Ordinances and Resolutions, Except by Title.

SUMMARY:

It is recommended that the City Council approve the waiver of readings of Ordinances and Resolutions, except by title.

ANALYSIS:

Pursuant to California Government Code §36934, approval of the waiver of readings will allow Ordinances and Resolutions to be introduced by title only and acted upon without the need to read the entire text of the item into the public record. The documents related to proposed Ordinances and Resolutions are available for review by the public on the City’s website and in the City Clerk’s office at City Hall.

FISCAL IMPACT:

N/A
ENVIRONMENTAL REVIEW:

N/A
ALTERNATIVES:

1. Direct the City Clerk to read the entire text of resolutions and ordinances prior to approval and adoption.

2. Take no action.

ATTACHMENTS:

N/A
Consent Calendar 3b
November 21, 2024
Patricia Krause, City Clerk / Administrative Services Director City Council Staff Report
Resolution: Adopting Resolution 2024-51, Approving the Warrant Register in the Amount of $444,530.30 for the Period of November 4 to November 12, 2024.

SUMMARY:

Consider approving the Warrant Register for the period of November 4 to November 12, 2024.

ANALYSIS:

As per Government Code Section §41004, a listing of all payments the City has made for goods and services need to be approved by City Council on a regular basis. This Warrant Register includes payments and payroll made for the period of November 4 to November 12, 2024.

FISCAL IMPACT:

Payments for this period total $444,530.30.

ENVIRONMENTAL REVIEW:

N/A
ALTERNATIVES:

1. Take no action.

2. Provide staff with further direction.

ATTACHMENTS:
• Resolution #2024-51
• Check Register Report

WATERFORD CITY COUNCIL

DATE TOTAL
PAYROLL 11/12/2024 $ 42,666.46
ACCOUNTS PAYABLE 11/4/2024 $ 379,847.96
11/12/2024 $ 22,015.88
TOTAL $ 444,530.30
Passed and Adopted by the City Council of Waterford at a regular meeting held on By the following vote:

AYES:

NOES:

ABSTAIN:

ABSENT:

PATRICIA KRAUSE, CMC, CITY CLERK CHARLIE GOEKEN, MAYOR
RESOLUTION 2024-51
RESOLUTION # 2024-51
November 21, 2024
The City of Waterford does hereby reserve, determine and order as follows:

SECTION 1: That in accordance with Section 37202 of the Government Code that the City Manager hereby certifies to the accuracy of the following demands and the availability of funds for the payment thereof.

SECTION 2: That the following claims and demands are subject to audit as required by law, and that the same are hereby set forth.

User:

Printed: 11/12/2024 - 10:36AM
'trish'
Payroll
Include Partial: FALSE
ACH Check Register
Batch: 00012.11.2024
Check Date Check Number Employee No Employee Name Amount 11/12/2024 0 1002 4,333.85
11/12/2024 0 1006 1,272.51
11/12/2024 0 1008 2,221.01
11/12/2024 0 1017 1,760.24
11/12/2024 0 1018 1,452.40
11/12/2024 0 2005 2,382.29
11/12/2024 0 2006 3,168.89
11/12/2024 0 2010 786.25
11/12/2024 0 2012 2,230.77
11/12/2024 0 2020 4,266.90
11/12/2024 0 2024 1,901.96
11/12/2024 0 2028 2,160.51
11/12/2024 0 2030 1,832.91
11/12/2024 0 2031 3,375.47
11/12/2024 0 2033 1,978.03
11/12/2024 0 2035 1,916.50
11/12/2024 0 2036 1,306.47
11/12/2024 0 2037 1,984.71
11/12/2024 0 2038 1,696.61
11/12/2024 0 3002 134.93
11/12/2024 0 3010 124.20
11/12/2024 0 3012 126.35
11/12/2024 0 3013 126.35
11/12/2024 0 3014 126.35
Total Employees: 24 Total: 42,666.46
PR- ACH Check Register (11/12/2024 - 10:36 AM) Page 1
User:

Printed: 11/07/2024 - 2:24PM
tina
Computer Check Proof List by Vendor
Accounts Payable
Batch: 00004.11.2024
Invoice No Description Amount Pmt Date Acct Number Reference Vendor: 102200 ABS DIRECT, INC Check Sequence: 1 ACH Enabled: False 137476 OCTOBER RECYCLING FLYER 551.80 11/04/2024 1010-000-2764 137477 OCTOBER STATEMENTS WITH FLYER INSERT 87.57 11/04/2024 5072-800-7190 137477 OCTOBER STATEMENTS WITH FLYER INSERT 87.57 11/04/2024 5070-800-7190 137477 OCTOBER STATEMENTS WITH FLYER INSERT 350.28 11/04/2024 5071-800-7190 137477 OCTOBER STATEMENTS WITH FLYER INSERT 350.28 11/04/2024 5050-700-7190 MP-20241028 PREPAID POSTAGE 190.00 11/04/2024 5072-800-7540 MP-20241028 PREPAID POSTAGE 760.00 11/04/2024 5071-800-7540 MP-20241028 PREPAID POSTAGE 760.00 11/04/2024 5050-700-7540 MP-20241028 PREPAID POSTAGE 190.00 11/04/2024 5070-800-7540 Check Total: 3,327.50
Vendor: 103400 ANSWERNET Check Sequence: 2 ACH Enabled: False 112-90739 ANSWERING SERVICE: 10/22 THROUGH 11/18/2024 21.52 11/04/2024 5050-700-7810 112-90739 ANSWERING SERVICE: 10/22 THROUGH 11/18/2024 21.52 11/04/2024 5071-800-7810 112-90739 ANSWERING SERVICE: 10/22 THROUGH 11/18/2024 10.77 11/04/2024 1010-110-7810 Check Total: 53.81
Vendor: 110900 AT&T MOBILITY Check Sequence: 3 ACH Enabled: False X10242024 IPAD CONNECTECTIVITY - 09/17 THROUGH 10/16/2024 44.73 11/04/2024 1010-110-7811 Check Total: 44.73
Vendor: 105896 AYERA TECHNOLOGIES, INC. Check Sequence: 4 ACH Enabled: False 615709 INTERNET - CITY HALL 174.00 11/04/2024 1010-110-7811 615792 INTERNET - WWTP 84.00 11/04/2024 5050-700-7811
AP-Computer Check Proof List by Vendor (11/07/2024 - 2:24 PM) Page 1 Invoice No Description Amount Pmt Date Acct Number Reference Check Total: 258.00
Vendor: 106525 BOYETT PETROLEUM Check Sequence: 5 ACH Enabled: False 349091 FUEL EXPENSE: OCTOBER 2024 1,647.07 11/04/2024 1010-580-7520 349091 FUEL EXPENSE: OCTOBER 2024 207.55 11/04/2024 5072-800-7520 349091 FUEL EXPENSE: OCTOBER 2024 415.09 11/04/2024 5070-800-7520 349091 FUEL EXPENSE: OCTOBER 2024 77.52 11/04/2024 1010-310-7520 349091 FUEL EXPENSE: OCTOBER 2024 1,452.88 11/04/2024 5071-800-7520 349091 FUEL EXPENSE: OCTOBER 2024 647.86 11/04/2024 5050-700-7520 Check Total: 4,447.97
Vendor: 108025 CALIFORNIA CONSULTING, INC. Check Sequence: 6 ACH Enabled: False 6997 GRANT WRITING RETAINER - NOVEMBER 2024 3,000.00 11/04/2024 1010-110-7190 Check Total: 3,000.00
Vendor: 108800 CALTRAFFIC Check Sequence: 7 ACH Enabled: False 20692 STREET SIGNAGE 413.99 11/04/2024 1010-310-7510
20693 VIOLATIONS SIGNAGE 868.08 11/04/2024 1010-310-7510 Check Total: 1,282.07
Vendor: 144410 CHARTER COMMUNICATIONS (7173) Check Sequence: 8 ACH Enabled: False 0061316101924 INTERNET - MUSEUM 86.23 11/04/2024 1010-550-7811 Check Total: 86.23
Vendor: 116301 D WILSON PLUMBING Check Sequence: 9 ACH Enabled: False 1109 FAUCETS FOR BEARD PARK BATHROOMS 503.24 11/04/2024 1010-580-7420 Check Total: 503.24
Vendor: 115705 DG TIRES & WHEELS Check Sequence: 10 ACH Enabled: False 927985 FLAT REPAIR 25.00 11/04/2024 1010-310-7430
Check Total: 25.00
Vendor: 115750 DISPLAY SALES COMPANY Check Sequence: 11 ACH Enabled: False INV4165 FLAGS FLAG POLES FOR DOWNTOWN STREET LIGHTING 4,140.44 11/04/2024 1010-310-7420 AP-Computer Check Proof List by Vendor (11/07/2024 - 2:24 PM) Page 2 Invoice No Description Amount Pmt Date Acct Number Reference Check Total: 4,140.44
Vendor: 117630 EYEMED Check Sequence: 12 ACH Enabled: False 166510654 INSURANCE PREMIUM: NOVEMBER 2024 66.30 11/04/2024 5071-800-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 17.85 11/04/2024 1010-110-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 6.56 11/04/2024 2210-260-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 1.02 11/04/2024 1010-430-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 7.43 11/04/2024 5072-800-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 37.41 11/04/2024 1010-310-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 2.88 11/04/2024 1010-210-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 20.89 11/04/2024 1010-580-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 92.23 11/04/2024 5050-700-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 12.94 11/04/2024 1010-410-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 17.76 11/04/2024 5070-800-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 1.15 11/04/2024 1010-550-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 1.68 11/04/2024 2010-210-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 8.00 11/04/2024 1010-560-7120 166510654 INSURANCE PREMIUM: NOVEMBER 2024 2.87 11/04/2024 5090-110-7120 Check Total: 296.97
Vendor: 118400 FERGUSON WATERWORKS #1423 Check Sequence: 13 ACH Enabled: False 0015516 WATER DEPARTMENT SUPPLIES 6.47 11/04/2024 5072-800-7510 0015516 WATER DEPARTMENT SUPPLIES 12.94 11/04/2024 5070-800-7510 0015516 WATER DEPARTMENT SUPPLIES 45.25 11/04/2024 5071-800-7510 0016044 WATER DEPARTMENT SUPPLIES 59.17 11/04/2024 5072-800-7510 0016044 WATER DEPARTMENT SUPPLIES 414.14 11/04/2024 5071-800-7510 0016044 WATER DEPARTMENT SUPPLIES 118.34 11/04/2024 5070-800-7510 Check Total: 656.31
Vendor: 118800 FINANCIAL CREDIT NETWORK, INC Check Sequence: 14 ACH Enabled: False 09302024 COLLECTION SERVICES 26.00 11/04/2024 5070-800-7190 09302024 COLLECTION SERVICES 26.00 11/04/2024 5071-800-7190 09302024 COLLECTION SERVICES 13.01 11/04/2024 5072-800-7190 09302024 COLLECTION SERVICES 65.01 11/04/2024 5050-700-7190 AP-Computer Check Proof List by Vendor (11/07/2024 - 2:24 PM) Page 3 Invoice No Description Amount Pmt Date Acct Number Reference Check Total: 130.02
Vendor: 121433 GO TO COMMUNICATIONS INC Check Sequence: 15 ACH Enabled: False IN7103347504 VOIP SERVICES - NOVEMBER 2024 26.28 11/04/2024 5050-700-7810 IN7103347504 VOIP SERVICES - NOVEMBER 2024 28.15 11/04/2024 1010-210-7810 IN7103347504 VOIP SERVICES - NOVEMBER 2024 255.79 11/04/2024 1010-110-7810 IN7103347504 VOIP SERVICES - NOVEMBER 2024 7.88 11/04/2024 5070-800-7810 IN7103347504 VOIP SERVICES - NOVEMBER 2024 15.77 11/04/2024 5071-800-7810 IN7103347504 VOIP SERVICES - NOVEMBER 2024 2.62 11/04/2024 5072-800-7810 Check Total: 336.49
Vendor: 126570 J.B. ANDERSON LAND USE PLANNING Check Sequence: 16 ACH Enabled: False 110124GPS FAHMY 2,001.00 11/04/2024 1010-430-7195
110124GPS G STREET NEPA 1,962.60 11/04/2024 2080-460-8290 110124GPS HOUSING ELEMENT 6,642.00 11/04/2024 1010-430-7197 110124GPS GENERAL PLANNING SERVICES OCTOBER 7,923.25 11/04/2024 1010-430-7195 Check Total: 18,528.85
Vendor: 200759 JARED STEELEY WATER & WASTEWATER MANAGEMENT Check Sequence: 17 ACH Enabled: False 13114 Oct 2024 5,437.25 11/04/2024 5071-800-7190
13114 Oct 2024 776.75 11/04/2024 5072-800-7190
13114 Oct 2024 1,553.50 11/04/2024 5070-800-7190
Check Total: 7,767.50
Vendor: 129000 KRAUSE, PATRICIA Check Sequence: 18 ACH Enabled: False 11042024 MILEAGE EXPENSES 123.41 11/04/2024 1010-110-7750 Check Total: 123.41
Vendor: 138700 LINDE GAS & EQUIPMENT INC. Check Sequence: 19 ACH Enabled: False 45864050 CYLINDER RENTAL - 09/20 THROUGH 10/20/2024 45.36 11/04/2024 1010-310-7510 Check Total: 45.36
Vendor: 131000 MCR ENGINEERING, INC. Check Sequence: 20 ACH Enabled: False 20213 WWTP ROAD RETAINING 3,325.00 11/04/2024 4350-700-8300 AP-Computer Check Proof List by Vendor (11/07/2024 - 2:24 PM) Page 4 Invoice No Description Amount Pmt Date Acct Number Reference 20213 12101 PECAN AVENUE, TPM 360.00 11/04/2024 1010-430-7196 20213 FITZPATRICK TM APPLICATIONS 2,340.00 11/04/2024 1010-430-7196 20213 YOSEMITE ATP PROJECT - PS&E 3,420.00 11/04/2024 6310-310-8292 20213 SKYLINE IMPROVEMENTS 3,780.00 11/04/2024 6310-310-8298 20213 BONNIE BRAE (STBG) INPROVEMENTS 3,420.00 11/04/2024 6310-310-7196 20213 F STREET BASIN 180.00 11/04/2024 4350-700-7196
20213 CITY ENGINEER-PARKS FOR 2024 520.00 11/04/2024 1010-580-8020 20213 ENCROACHMENT PERMIT INSPECTION FOR 2024 5,730.00 11/04/2024 1010-430-7196 20213 MONITORING WELL REPLACEMENT 5,142.00 11/04/2024 4350-700-8300 Check Total: 28,217.00
Vendor: 132742 MOUNTAIN VALLEY ENVIRONMENTAL SERVICES, INC. Check Sequence: 21 ACH Enabled: False 5695 CROSS CONNECTION - DECEMBER 2024 40.00 11/04/2024 5070-800-7190 5695 CROSS CONNECTION - DECEMBER 2024 20.00 11/04/2024 5072-800-7190 5695 CROSS CONNECTION - DECEMBER 2024 140.00 11/04/2024 5071-800-7190 Check Total: 200.00
Vendor: 200738 NAVIA BENEFIT SOLUTIONS Check Sequence: 22 ACH Enabled: False 10896164 COBRA ADMIN FEES - OCTOBER 2024 200.00 11/04/2024 1010-110-7190 Check Total: 200.00
Vendor: 135100 NORMAC Check Sequence: 23 ACH Enabled: False 0018144261-001 NODES FOR DOWNTOWN PLANTERS 402.88 11/04/2024 1010-310-7410 0018144332-001 STERILANT 215.58 11/04/2024 1010-580-7510 Check Total: 618.46
Vendor: 135325 O'REILLY AUTO PARTS Check Sequence: 24 ACH Enabled: False 3915-309157 DEGREASER 10.78 11/04/2024 1010-310-7510
3915-309157 DEGREASER 10.78 11/04/2024 1010-580-7510
3915-309180 WIPER BLADES FOR PATRICK'S FORD FUSION 41.96 11/04/2024 1010-410-7430 3915-309203 WIPER BLADES FOR PATRICK'S FORD FUSION 1.32 11/04/2024 1010-410-7430 3915-309441 WIPER BLADE FOR THE JOHN DEERE 6430 6.86 11/04/2024 5050-700-7420 3915-311075 WIPER BLADES FOR VEHICLES 17.60 11/04/2024 5072-800-7430 3915-311075 WIPER BLADES FOR VEHICLES 35.20 11/04/2024 5070-800-7430 AP-Computer Check Proof List by Vendor (11/07/2024 - 2:24 PM) Page 5 Invoice No Description Amount Pmt Date Acct Number Reference 3915-311075 WIPER BLADES FOR VEHICLES 123.17 11/04/2024 5071-800-7430 Check Total: 247.67
Vendor: 209807 PACE SUPPLY CORP Check Sequence: 25 ACH Enabled: False 199616895-2 METER EQUIPMENT WATER DEPARTMENT 2,537.07 11/04/2024 5072-800-7510 199616895-2 METER EQUIPMENT WATER DEPARTMENT 40,592.92 11/04/2024 5071-800-7510 199616895-2 METER EQUIPMENT WATER DEPARTMENT 7,611.17 11/04/2024 5070-800-7510 Check Total: 50,741.16
Vendor: 1001007 GARRY PEARSON Check Sequence: 26 ACH Enabled: False 10282024 REIMBURSEMENT FOR CANOPY - YOUTH BASKETBALL 65.01 11/04/2024 2290-600-7662 Check Total: 65.01
Vendor: 136625 PIONEER MARKET WATERFORD Check Sequence: 27 ACH Enabled: False 11012024 BREAKROOM & OPERATING SUPPLIES 32.17 11/04/2024 1010-580-7510 11012024 BREAKROOM & OPERATING SUPPLIES 19.96 11/04/2024 5050-700-7510 11012024 BREAKROOM & OPERATING SUPPLIES 22.55 11/04/2024 5071-800-7510 11012024 BREAKROOM & OPERATING SUPPLIES 3.21 11/04/2024 5072-800-7510 11012024 BREAKROOM & OPERATING SUPPLIES 32.17 11/04/2024 1010-310-7510 11012024 BREAKROOM & OPERATING SUPPLIES 31.28 11/04/2024 1010-110-7510 11012024 BREAKROOM & OPERATING SUPPLIES 43.22 11/04/2024 1010-110-7732 11012024 BREAKROOM & OPERATING SUPPLIES 6.42 11/04/2024 5070-800-7510 Check Total: 190.98
Vendor: 130200 ROBBINS BROWNING GODWIN & MARCHINI LLP Check Sequence: 28 ACH Enabled: False 72151 ATTTORNEY FEES - NOVEMBER 2024 3,562.52 11/04/2024 1010-110-7194 72152 CODE ENFORCEMENT LITIGATION 67.50 11/04/2024 1010-110-7194 72153 GARCIA DFEH COMPLAINT 67.50 11/04/2024 1010-110-7194 Check Total: 3,697.52
Vendor: 141900 SAFE T LITE OF MODESTO INC Check Sequence: 29 ACH Enabled: False 400703 WATER DEPARTMENT SUPPLIES 27.58 11/04/2024 5072-800-7510 400703 WATER DEPARTMENT SUPPLIES 55.16 11/04/2024 5070-800-7510 400703 WATER DEPARTMENT SUPPLIES 193.06 11/04/2024 5071-800-7510 AP-Computer Check Proof List by Vendor (11/07/2024 - 2:24 PM) Page 6 Invoice No Description Amount Pmt Date Acct Number Reference Check Total: 275.80
Vendor: 143195 SIEMENS INDUSTRY INC Check Sequence: 30 ACH Enabled: False 5331625064 FIRE SERVICES AGREEMENT MONITORING ONLY - 10/01/24 TO 09/30/2025 875.26 11/04/2024 1010-110-7300 Check Total: 875.26
Vendor: 209939 DYLAN SNAPP Check Sequence: 31 ACH Enabled: False 194 SECURITY PATROL SERVICES - OCTOBER 2024 50.00 11/04/2024 5072-800-7300 194 SECURITY PATROL SERVICES - OCTOBER 2024 175.00 11/04/2024 5071-800-7300 194 SECURITY PATROL SERVICES - OCTOBER 2024 100.00 11/04/2024 5070-800-7300 194 SECURITY PATROL SERVICES - OCTOBER 2024 175.00 11/04/2024 5050-700-7300 199 SECURITY PATROL SERVICES - NOVEMBER 2024 50.00 11/04/2024 5072-800-7300 199 SECURITY PATROL SERVICES - NOVEMBER 2024 175.00 11/04/2024 5071-800-7300 199 SECURITY PATROL SERVICES - NOVEMBER 2024 175.00 11/04/2024 5050-700-7300 199 SECURITY PATROL SERVICES - NOVEMBER 2024 100.00 11/04/2024 5070-800-7300 Check Total: 1,000.00
Vendor: 200771 SNEED AUTO & RV REPAIR Check Sequence: 32 ACH Enabled: False 104759 LOF & BRAKES ON THE 2016 CHEVROLET 2500 428.62 11/04/2024 5071-800-7430 104759 LOF & BRAKES ON THE 2016 CHEVROLET 2500 61.23 11/04/2024 5072-800-7430 104759 LOF & BRAKES ON THE 2016 CHEVROLET 2500 122.46 11/04/2024 5070-800-7430 Check Total: 612.31
Vendor: 144700 SPRINGBROOK HOLDING COMPANY LLC Check Sequence: 33 ACH Enabled: False INV-019016 CIVICPAY TRANSACTION FEE: OCTOBER 2024 394.80 11/04/2024 5071-800-7610 INV-019016 CIVICPAY TRANSACTION FEE: OCTOBER 2024 564.00 11/04/2024 5050-700-7610 INV-019016 CIVICPAY TRANSACTION FEE: OCTOBER 2024 56.40 11/04/2024 5072-800-7610 INV-019016 CIVICPAY TRANSACTION FEE: OCTOBER 2024 112.80 11/04/2024 5070-800-7610 Check Total: 1,128.00
Vendor: 146220 STANISLAUS COUNTY CLERK/RECORDER Check Sequence: 34 ACH Enabled: False 10292024 RECORDING FEES - MASON 37.00 11/04/2024 1010-110-7730 Check Total: 37.00
AP-Computer Check Proof List by Vendor (11/07/2024 - 2:24 PM) Page 7 Invoice No Description Amount Pmt Date Acct Number Reference Vendor: 146900 STANISLAUS COUNTY SHERIFF Check Sequence: 35 ACH Enabled: False 2425-21 SHERIFF CONTRACT - SEPTEMBER 2024 197,503.38 11/04/2024 1010-210-7170 2425-WPS Special Invest. Unit Annual Contrib 5,000.00 11/04/2024 1010-210-7190 Check Total: 202,503.38
Vendor: 148636 SUNBELT RENTALS, INC Check Sequence: 36 ACH Enabled: False 161170868-0002 RIVER TRAIL PARK REPAIRS - AUGER RENTAL 154.14 11/04/2024 1010-580-7410 Check Total: 154.14
Vendor: 148626 SUTTER HEALTH PLUS Check Sequence: 37 ACH Enabled: False 3456413 INSURANCE PREMIUM: DECEMBER 2024 88.09 11/04/2024 1010-430-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 149.62 11/04/2024 5090-110-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 299.23 11/04/2024 1010-210-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 4,797.04 11/04/2024 5071-800-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 5,350.61 11/04/2024 5050-700-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 299.09 11/04/2024 1010-410-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 1,404.32 11/04/2024 1010-110-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 546.28 11/04/2024 5072-800-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 818.08 11/04/2024 1010-580-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 2,064.12 11/04/2024 1010-310-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 206.72 11/04/2024 2210-260-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 310.81 11/04/2024 1010-560-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 41.64 11/04/2024 1010-550-7120 3456413 INSURANCE PREMIUM: DECEMBER 2024 1,216.89 11/04/2024 5070-800-7120 Check Total: 17,592.54
Vendor: 149533 TESCO CONTROLS, INC. Check Sequence: 38 ACH Enabled: False 0083725-IN EMASS MAINTENANCE AGREEMENT: 07/01/24 THROUGH 06/30/25 4,000.00 11/04/2024 5071-800-7190 0083725-IN EMASS MAINTENANCE AGREEMENT: 07/01/24 THROUGH 06/30/25 4,000.00 11/04/2024 5072-800-7190 0083725-IN EMASS MAINTENANCE AGREEMENT: 07/01/24 THROUGH 06/30/25 4,000.00 11/04/2024 5050-700-7190 0083725-IN EMASS MAINTENANCE AGREEMENT: 07/01/24 THROUGH 06/30/25 4,000.00 11/04/2024 5070-800-7190 0083930A-IN** SALES TAX OMITTED FROM EARLIER INVOICE# 0083930-A DATED 10/02/24 173.25 11/04/2024 5050-700-7420 0084168-IN FIREWALL REPLACEMENT 2,682.00 11/04/2024 5050-700-7420 AP-Computer Check Proof List by Vendor (11/07/2024 - 2:24 PM) Page 8 Invoice No Description Amount Pmt Date Acct Number Reference Check Total: 18,855.25
Vendor: 150563 TRANS-ROCK Check Sequence: 39 ACH Enabled: False 3331 SAND & COLD MIX FOR A/C PATCH REPAIRS 342.26 11/04/2024 5070-800-7530 3331 SAND & COLD MIX FOR A/C PATCH REPAIRS 1,197.91 11/04/2024 5071-800-7530 3331 SAND & COLD MIX FOR A/C PATCH REPAIRS 171.13 11/04/2024 5072-800-7530 3331 SAND & COLD MIX FOR A/C PATCH REPAIRS 1,711.30 11/04/2024 1010-310-7530 Check Total: 3,422.60
Vendor: 150567 TURLOCK IRRIGATION DISTRICT Check Sequence: 40 ACH Enabled: False 11042024 HICKMAN POWER - 09/21 THROUGH 10/21/2024 1,407.03 11/04/2024 5072-800-7820 Check Total: 1,407.03
Vendor: 155600 WATERFORD FARM SUPPLY, INC. Check Sequence: 41 ACH Enabled: False 10312024 OPERATING SUPPLIES & SMALL TOOLS 12.93 11/04/2024 5050-700-7580 10312024 OPERATING SUPPLIES & SMALL TOOLS 66.82 11/04/2024 1010-580-7420 10312024 OPERATING SUPPLIES & SMALL TOOLS 18.97 11/04/2024 1010-310-7420 10312024 OPERATING SUPPLIES & SMALL TOOLS 174.73 11/04/2024 5050-700-7420 10312024 OPERATING SUPPLIES & SMALL TOOLS 45.97 11/04/2024 1010-210-7510 10312024 OPERATING SUPPLIES & SMALL TOOLS 13.57 11/04/2024 1010-310-7410 10312024 OPERATING SUPPLIES & SMALL TOOLS 74.44 11/04/2024 5072-800-7510 10312024 OPERATING SUPPLIES & SMALL TOOLS 89.48 11/04/2024 1010-580-7580 10312024 OPERATING SUPPLIES & SMALL TOOLS 35.59 11/04/2024 1010-580-7410 10312024 OPERATING SUPPLIES & SMALL TOOLS 65.20 11/04/2024 1010-580-7510 10312024 OPERATING SUPPLIES & SMALL TOOLS 454.52 11/04/2024 1010-580-7550 10312024 OPERATING SUPPLIES & SMALL TOOLS 103.32 11/04/2024 5050-700-7510 10312024 OPERATING SUPPLIES & SMALL TOOLS 149.87 11/04/2024 1010-110-7731 10312024 OPERATING SUPPLIES & SMALL TOOLS 438.32 11/04/2024 1010-310-7510 10312024 OPERATING SUPPLIES & SMALL TOOLS 57.01 11/04/2024 5050-700-7410 10312024 OPERATING SUPPLIES & SMALL TOOLS 282.30 11/04/2024 5050-700-7550 10312024 OPERATING SUPPLIES & SMALL TOOLS 148.88 11/04/2024 5070-800-7510 10312024 OPERATING SUPPLIES & SMALL TOOLS 521.03 11/04/2024 5071-800-7510 Check Total: 2,752.95
AP-Computer Check Proof List by Vendor (11/07/2024 - 2:24 PM) Page 9 Invoice No Description Amount Pmt Date Acct Number Reference Total for Check Run:

Total of Number of Checks:
379,847.96
41 AP-Computer Check Proof List by Vendor (11/07/2024 - 2:24 PM) Page 10 Consent Calendar 3c
November 21, 2024
Patricia Krause, City Clerk / Administrative Services Director City Council Staff Report
Motion: Approving Minutes of the Regular City Council Meeting held November 7, 2024.

SUMMARY:

Consider approving minutes from the November 7, 2024 Regular City Council meeting.

ANALYSIS:

Approve Minutes of the Regular City Council Meeting held on November 7, 2024.

FISCAL IMPACT:

N/A
ENVIRONMENTAL REVIEW:

N/A
ALTERNATIVES:

1. Direct the City Clerk to make amendments to the minutes and bring them back for approval at a future City Council meeting.

2. Take no action.

ATTACHMENTS:
• City Council Regular Meeting Minutes of November 7, 2024.

MINUTES

WATERFORD CITY COUNCIL - REGULAR

MEETING WATERFORD CITY HALL, CITY
COUNCIL CHAMBERS 101 “E” STREET,

WATERFORD, CA
MEETING CALLED TO ORDER BY MAYOR GOEKEN AT: 6:30 pm
FLAG SALUTE: Mayor Goeken
INVOCATION: Pastor Dave McGaffee, Assembly of God Church ROLL CALL PRESENT:

Mayor Goeken
Vice Mayor Kitchens
Councilmember Harris
Councilmember Hilton
Council Member Talbott
ABSENT: None
STAFF PRESENT:

Michael Pitcock, City Manager
Patricia Krause, City Clerk / Administrative Services Director Lonnie Statzer, Public Works Director
Corbett Browning, City Attorney
Chief David Mullins
ADOPTION OF AGENDA:

ACTION: By motion moved and seconded (CM Hilton/ CM Harris / 5-0) to adopt the Agenda.

AYES: Goeken, Harris, Hilton, Kitchens, Talbott
NAYS: None
ABSENT: None
ABSTAIN: None
Motion passed 5-0.

CONFLICT OF INTEREST DECLARATION:

None.

WATERFORD CITY COUNCIL REGULAR MEETING – November 7, 2024 - 6:30 PM

1. 2.

None

3. 3a: MOTION: Waiving all Readings of Ordinances and Resolutions, except by title. 3b: RESOLUTION: Adopting Resolution 2024-50, Approving the Warrant Register in the Amount of $879,936.84 for the Period of September 30 to October 28, 2024. 3c: MOTION: Approving Minutes of the Regular City Council Meeting held October 3, 2024. 3d: MOTION: Accept Compliance with Developer Fees report in accordance with the requirements of Section 66006 of the Government Code.
3e: MOTION: Accepting the Treasurer’s Report for the Quarter Ended June 30, 2024. 3f: MOTION: Accepting the Treasurer’s Report for the Quarter Ended September 30, 2024.

ACTION: By motion moved and seconded (CM Hilton/ VM Kitchens / 5-0) to adopt the consent calendar.

AYES: Goeken, Harris, Hilton, Kitchens, Talbott
NAYS: None
ABSENT: None
ABSTAIN: None
Motion passed 5-0.

4. 5.

6. 6a: MOTION: Awarding Bid and Approving an Agreement with WildRose Drilling (dba) Wild Heron Drilling in the Amount of $33,069.37 for Project No. 2024-05, “Wastewater Monitoring Well Replacement” and Authorizing the City Manager to Execute the Public Improvement Agreement. (Statzer)
ACTION: By motion moved and seconded (VM Kitchens/ CM Hilton / 5-0) to Award Bid and

COMMUNICATIONS FROM THE AUDIENCE

PRESENTATION

GENERAL BUSINESS

FINAL READINGS

ADOPTION OF CONSENT CALENDAR

PUBLIC HEARINGS
Approving an Agreement with WildRose Drilling (dba) Wild Heron Drilling in the Amount of $33,069.37 for Project No. 2024-05, “Wastewater Monitoring Well Replacement” and Authorizing the City Manager to Execute the Public Improvement Agreement.

AYES: Goeken, Harris, Hilton, Kitchens, Talbott
NAYS: None
ABSENT: None
ABSTAIN: None
Motion passed 5-0.

7. 8.
8a: City Project List

9. 9a: City Staff
Public Works Director Statzer informed the Council that the security cameras have been installed at the Community Center and the power has been restored to the large pavilion. Mr. Statzer stated that the flag for Downtown had come in and would be out for Veteran’s Day.

Chief Mullins gave the Council the stats for October and congratulated the Waterford Wildcats for making the playoffs.

City Attorney Browning informed the Council about closed session.

City Manager Pitcock stated he had received complaints about numerous food vendors in town and informed the Council that the Code Enforcement Officer would be working overtime a few evenings to contact them. Mr. Pitcock gave the Council an update on the traffic signals on Yosemite. 9b: City Council
Councilmember Hilton had no comments.

Councilmember Talbott inquired if there would be a City Council float in the Christmas Parade.

Vice mayor Kitchens had no comments.

Councilmember Harris praised the Trunk or Treat Event.

Mayor Goeken commented that he had a conversation with Caltrans about the traffic signals as well and thanked everyone for attending the meeting.

STAFF/COUNCIL COMMENTS AND MEETING REPORTS

INFORMATIONAL ITEMS

SUCCESSOR AGENCY TO THE FORMER WATERFORD REDEVELOPMENT AGENCY

10. Meeting Recessed: 6:45 PM.

Mayor Goeken recessed the City Council meeting at 6:45 PM to convene to Closed Session directly following the recess. Adjournment of the City Council meeting followed the Report out of Closed Session.

11. 11a: Conference with Legal Counsel – Existing Litigation (Pursuant to Government Code Section 54956.9)
- Madrigal v. City of Waterford, et al. Case # CV-24-003523

12. 12.

PASSED AND ADOPTED by the Waterford City Council at a regular meeting held on November 21, 2024, by the following vote:

AYES:

NOES:

ABSTAIN:

ABSENT:

CITY OF WATERFORD:
________________________
Charlie Goeken, Mayor
ATTEST:
_________________________
Patricia Krause, CMC, City Clerk

CLOSED SESSION

ADJOURNMENT / RECESS

REPORT OUT OF CLOSED SESSION
Public Hearing Item 5a
November 21, 2024
Mark Niskanen, Planning Manager
City Council Staff Report
City Council to Consider Adoption of the Following:

Ordinance: Ordinance 2024-07, Approving Planning Commission Recommendation to Introduce an Ordinance approving and adopting Rezone of 8.09± acres; as to Assessor Parcel Number 080-023-004 from Residential Single (RS) District to Planned Community (PC) 2024-02 (PC #2024-02).

Resolution: Resolution 2024-52, Approving Planning Commission Recommendation to adopt a Resolution to approve Vesting Tentative Subdivision Map No. VTSM 2024-0003 to subdivide an 8.09± acre parcel into fifty-two (52) single-family residential lots.

SUMMARY:

Rezone and Vesting Tentative Subdivision Map No. 2024-0003, hereto referred to as “Proposed Project” consists of rezoning the subject parcel from RS, Residential Single to PC, Planned Community and to subdivide the 8.09± acre parcel into fifty-two (52) single-family residential lots. The Proposed Project is located east of Tim Bell Road and north of Modesto Irrigation District’s Waterford Lower Main Canal lateral; the subject property is identified as Assessor Parcel Number 080-023-004. A Location Map, which illustrates the Proposed Project’s location, is provided below:

The City’s Vision 2025 General Plan designates the subject property for Low-Density Residential (LDR) land uses, and it is zoned Residential Single (RS). The subject property is bounded by the Modesto Irrigation District (MID) canal to the north and the Waterford Lower Main Canal Lateral to the south, small ranchette homes to the east and west, with single family residential homes located in close proximity to the west and south. The table below depicts the subject property’s surrounding Vision 2025 General Plan land use designations and zoning:

Land Use Zoning Designation General Plan Designation
North Residential/Commercial
Residential Single (RS)/Planned
Community (Neighborhood
Commercial)
Low Density Residential
(LD)
East Residential Residential Single (RS) Low Density Residential (LD)
South Residential Residential Single (RS) Low Density Residential (LD)
West Residential Rural Estates (RE) Low Density Residential (LD)
ANALYSIS:

The applicant is proposing to Rezone 8.09± acres from Residential Single (RS) to Planned Community (PC) and a Vesting Tentative Subdivision Map to allow for the development of a subdivision consisting of fifty-two (52) new single-family residential lots.

General Plan
As noted above, the subject property is designated for Low Density Residential (LD) land uses per the City’s Vision 2025 General Plan. The LD land use designation allows for a density range of four (4) to six (6) dwelling units per gross acre and “consists primarily of single-family detached housing, but a diversity of single-family housing types, such as condominium and zero-lot-line units can be developed.” The Proposed Project consists of a density of six (6) dwelling units per gross acre, and therefore is consistent with the land use designation provided by the City’s Vision 2025 General Plan. In addition, the Proposed Project is consistent with the following Vision 2025 General Plan Policies:

Policy L-1.2 Encourage a diversity of building types, ownership, prices, designs, and site plans for residential areas throughout the City.

Policy L-1.3 Encourage a diversity of lot sizes in residential subdivisions.

Policy L-1.6 Continue to pursue quality single-family and higher density residential development.

Policy L-1.8 Create livable and identifiable residential neighborhoods.

Rezone from Residential Single (RS) to Planned Community (PC) A component of the Proposed Project is to rezone the subject property from Residential Single (RS) to Planned Community (PC) 2024-02. The RS zone district allows for single-family residential development with a minimum lot size of 6,000 square feet, which is typical of the RS zone district. The Applicant is proposing a PC to allow for site specific development standards for the subdivision.

Chapter 17.30: PC Planned Community District defines the requirements for Planned Community developments. The purpose of the PC is to “encourage creative and efficient land uses, to encourage mixed or multiple projects, to permit variations from the density, height and other standards in the various zones and to permit development based on a high standard of performance and design.” The table below depicts the development standards contained in the RS zone district (Chapter 17.20 of the City’s Municipal Code) and the proposed PC.

Development Standard RS Zone District PC 2024-02
Lot Dimensions
Lot Size (Minimum) 6,000 square feet 3,500 square feet
Lot Width (Minimum) Interior – 55 feet
Corner – 65 feet
Interior – 45 feet
Corner – 45 feet
Lot Coverage (Maximum) 40% 55%
Setbacks (Minimum)
Front 15 feet 15 feet
Rear 10 feet 8 feet
Side Interior – 5 feet
Corner – 10 feet
Interior – 4 feet
Corner (Interior) – 4 feet
Corner (Street Side) – 10 feet
As illustrated above, the Proposed Project includes variations of development standards from the RS zone district including lot size, coverage, width, and setbacks. The 3,500 square feet minimum size requirement is exceeded by all proposed lots as the lots range in size between 3,766 sq. ft. and 9,053 sq. ft. The average lot size for the proposed development is 4,969 sq. ft.

The development of lands zoned PC are also required to adhere to a development schedule (Section

17.30.080 of the City’s Municipal Code), which defines the timing in which the project will be initiated and developed. The Applicant has represented that development of the Proposed Project, should it be approved by the City of Waterford, will be initiated in Spring 2025 and will be built in one (1) phase.

Vesting Tentative Subdivision Map
The Applicant is requesting a Vesting Tentative Subdivision Map (Attachment 3) as part of the overall application, which would subdivide the existing 8.09± acre parcel into fifty-two (52) single family residential lots. The purpose of the Vesting Tentative Subdivision Map is to create new parcels for the development of single-family residential units. Access to the Proposed Project will be provided via proposed A Way and B Street as both are proposed to connect to Tim Bell Road.

The Applicant will be required to install frontage improvements on Tim Bell Road, which includes curb, gutter, and sidewalk improvements on Tim Bell Road and shall extend across the limits of the project frontage. A six (6) foot masonry wall along the southern boundary of the project site, adjacent to the MID canal, will be installed. A small overflow basin and open space area along Tim Bell Road will be included as part of the Proposed Project. All utilities, including water, sewer, and storm drainage will be provided by the City of Waterford. The City Engineer has reviewed the proposed Vesting Tentative Subdivision Map and has determined that the map is complete and complies with the City’s Subdivision Ordinance (Title 16 of the City’s Municipal Code).

PLANNING COMMISSION:

On October 22, 2024, the Planning Commission held a regularly scheduled public hearing to consider the Proposed Project. Upon completion of the presentation, the Planning Commission opened the hearing for Public Comment. Residents of 628 Tim Bell Road (APN 080-023-003) expressed concern about the proposed wood fence which would be erected between the proposed project, specifically lot thirty-seven (37), and their property, 628 Tim Bell Road. The residents requested a CMU block wall be installed along the boundary of their property. In response, staff suggested that the newly built wood fence could be fortified with steel posts. The Applicant agreed to reinforce the wood fence located between lot thirty-seven (37) and 628 Tim Bell Road (APN 080-023-003) with steel posts to ensure the longevity of the wood fence at this location; Condition of Approval No. thirteen (13) reflects this agreement. Subsequently, the Planning Commission deliberated resulting in a four (4) to zero (0) vote adopting Resolution No. 2024-08 as presented and adopted an amended Resolution No. 2024-09 to include an added Condition of Approval requiring the fortification of the wood fence located between lot thirty-seven (37) and 628 Tim Bell Road and recommending to the City Council of the City of Waterford approval of the Proposed Project.

FISCAL IMPACT:

Staff time and resources have been utilized for the processing of this application. However, the applicant has paid the applicable application fees for this Rezone and Vesting Tentative Subdivision Map.

The Proposed Project will also pay the applicable Building Permit Fees at the time of Building Permit issuance, and annex into CFD 2019-01 to allow for long-term maintenance of public facilities.

ENVIRONMENTAL REVIEW:

City staff prepared and circulated an Initial Study to evaluate possible environmental impacts associated with the Proposed Project. The Public Review Draft Initial Study was released for public review on May 21, 2024, and concluded on June 20, 2024. City staff posted the Public Review Draft Initial Study in accordance with CEQA Guidelines. In total, the City received one (1) written comment letter from the California Regional Water Quality Control Board (CRWQCB). City staff’s review of the written comment letter received determined that the CRWQCB did not raise any concerns above what was analyzed in the Public Review Draft Initial Study.

Therefore, based on the evaluation contained in the Public Review Draft Initial Study, City staff determined that the Proposed Project would have a less than significant impact with mitigation incorporated. City staff prepared a Mitigated Negative Declaration in accordance with Article 6 of the CEQA Guidelines. The Mitigated Negative Declaration prepared for the Waterstone Residential Subdivision was certified by City Council action on Thursday, September 5th, 2024, with the approval of Waterstone A.

PUBLIC NOTICE:

In accordance with Section 17.79.020(c) of the WMC, a Notice of Public Hearing was published in the Waterford News on November 9. In addition, Public Notices were distributed on November 9, 2024, via U.S. Mail to residents within a 300-foot radius of the Project Site. As of the writing of this Staff Report, the City has not received any comments.

ODINANCE REVISION PROCESS:

Ordinance 2024-07 is before the City Council for a public hearing to consider approving the Introduction and First Reading by title only. A summary of the Ordinance will be published in the Waterford News and will come back to the City Council as a public hearing item at the next council meeting to consider the Second Reading by title and Adoption. After adoption, an Ordinance Summary will be published in the Waterford News and will become effective and in full force on and after thirty (30) days of its passage and adoption.

ATTACHMENTS:
4a: City Council Ordinance No. 2024-07 (Rezone)
4b: City Council Resolution No. 2024-52 (Vesting Tentative Subdivision Map) 4c: Vesting Tentative Subdivision Map
4d: Floor Plans and Colored Elevations
4e: Planning Commission Resolution No. 2024-08 and Resolution No. 2024-09

ORDINANCE NO. 2024-07

AN ORDINANCE OF THE CITY OF WATERFORD CITY COUNCIL
APPROVING AND ADOPTING REZONE TO PLANNED COMMUNITY 2024-02 (PC #2024-02) REZONING 8.09± ACRES; AS TO ASSESSOR PARCEL NUMBER 080-023-004 FROM RESIDENTIAL SINGLE (RS) DISTRICT TO PLANNED COMMUNITY 2024-02 (PC #2024-02)
WHEREAS, the City of Waterford is authorized by Title 17 Chapter 17.77, to initiate a rezone whenever public necessity and convenience and the general welfare require such amendment; and
WHEREAS, the City of Waterford Planning Commission conducted a Public Hearing on October 22, 2024, to consider the proposed Rezone to PC #2024-02.

WHEREAS, the City Council for the City of Waterford has made the following findings for adoption.

1. An application has been received from Fitzpatrick Homes with a proposal to subdivide approximately 8.09± acres into fifty-two (52) single-family residential lots on property assigned the following assessor parcel number: 080-023-004; and,

2. The project site is currently zoned Residential Single (RS) and has a General Plan Land Use Designation of Low Density Residential (LD); and

3. The applicant is proposing to rezone the subject property to Planned Community 2024-02 (PC #2024-02); and

4. Notice of the public hearing on the proposed Rezone was published in the Waterford News, a newspaper of general circulation, on November 12, 2024; and

5. Notice of the public hearing on the proposed Rezone was mailed to all property owners affected by this action on November 12, 2024; and

6. Notices of the public hearing on the proposed Rezone were mailed to all property owners within 300-feet of the property, according to the most recent assessor’s roll, on November 12, 2024; and

7. The City finds that pursuant to the California Environmental Quality Act (CEQA), the Lead Agency (Waterford) has prepared an Initial Study and concludes that the proposed project is within the scope of the previously certified City of Waterford Vision 2025 General Plan Environmental Impact Report, and in accordance with Section 15074 of the CEQA Guidelines, a Mitigated Negative Declaration has been prepared and considered.

WHEREAS, a public hearing was held on November 21, 2024, and all comments were heard and considered by the City Council.

THE CITY COUNCIL OF THE CITY OF WATERFORD, COUNTY OF STANISLAUS, STATE OF CALIFORNIA, DOES ORDAIN AS FOLLOWS:

SECTION 1. ZONING MAP. The Zoning Map of the City of Waterford is hereby amended in the area described in Exhibit A attached hereto and by reference incorporated herein, to provide for the approval of a specific plan for Development to be known as PLANNED COMMUNITY 2024-02 (PC #2024-02), an amendment to 8.09± acres, APN 080-023-004 from property zoned RESIDENTIAL SINGLE (RS).

SECTION 2. FINDINGS. The approval of this ordinance is based on the following findings and determinations:

A. The Planning Commission, on October 22, 2024, held a noticed Public Hearing and made its written recommendation to the City Council to approve the rezoning to Planned Community 2024-02 (PC #2024-02).

B. The proposed rezoning is consistent with the goals, policies, and implementation measures and Low Density Residential (LD) land use of the City of Waterford Vision 2025 General Plan.

C. A noticed Public Hearing before the City Council was given in the form and manner required by State statute and the Waterford Municipal Code.

SECTION 3. CONDITIONS. The development is subject to the conditions and standards adopted in the City’s Vision 2025 General Plan for development which includes the following terms and conditions:

SECTION 4. The Zoning Map of the City of Waterford, which is attached as part of Title 17 of the City Code, is hereby amended and changed, and from and after the effective date of the Ordinance, the property illustrated in Exhibit A hereof shall be referred to and described on said zoning map of the City of Waterford as Planned Community 2024-02 (PC #2024-02).

A. Approval of Rezone to Planned Community 2024-02 authorizes a 52-lot singlefamily residential development shall expire within two years from the date of the approval by the City Council unless acted upon or the applicant or property owner obtains a time extension for the subdivision map.

SECTION 5. DEVELOPMENT STANDARDS. The following development standards are hereby associated with Planned Community 2024-02 (PC #2024-02):

Development Standard Planned Community 2024-02
Lot Dimensions
Lot Size (Minimum) 3,500 square feet
Lot Width (Minimum) Interior – 45-feet
Corner – 45-feet
Lot Coverage (Maximum) 55%
Setbacks (Minimum)
Front 15-feet
Rear 8-feet
Side
Interior – 4 feet
Corner (Interior) – 4 feet
Corner (Street Side) – 10 feet
SECTION 6. AUTHORITY. This ordinance is adopted pursuant to the authority granted by the California Constitution and State law.

SECTION 7. If any section, subsection, subdivision, sentence, clause, phrase or portion of this Ordinance, is for any reason held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this Ordinance. The City Council hereby declares that it would have adopted this Ordinance and each section, subsection, subdivision, sentence, clause, phrase, or portion thereof, irrespective of the fact that any one or more sections, subsections, subdivisions, sentences, clauses, phrases, or portions thereof be declared invalid or unconstitutional.

SECTION 8. To the extent the provisions of the Waterford Municipal Code as amended by this Ordinance are substantially the same as the provisions of that Code as they read immediately prior to the adoption of this Ordinance, then those provisions shall be construed as continuations of the earlier provisions and not as new enactments.

SECTION 9. The City Clerk shall certify as to the adoption of this Ordinance and shall cause a summary thereof to be published within fifteen (15) days of adoption and shall post a certified copy of this Ordinance, including the vote for and against same, in the Office of the City Clerk, in accordance with Government Code Section 36933.

SECTION 10. ENACTMENT: Prior to the expiration of fifteen (15) days from the passage and adoption thereof, this ordinance shall be published in a newspaper of general circulation printed and published in the County of Stanislaus, State of California, together with names of the members of the City Council voting for and against the same.

PASSED AND ADOPTED at a regular meeting of the City Council of the City of Waterford this 21st day of November, 2024, by the following vote:

AYES:

NOES:

ABSTAIN:

ABSENT:

CITY OF WATERFORD
_______________________
CHARLIE GOEKIN, Mayor
ATTEST: APPROVED AS TO FORM:
__________________________ _________________________
PATRICIA KRAUSE CORBETT J. BROWNING
City Clerk City Attorney

EXHIBIT A
PLANNED COMMUNITY 2024-02 (PC #2024-02)

WATERFORD CITY COUNCIL
RESOLUTION NO. 2024-52

A RESOLUTION OF THE CITY OF WATERFORD CITY

COUNCIL APPROVING A VESTING TENTATIVE
SUBDIVISION MAP NO. 2024-0003 (VTSM 2024-0003);

LOCATED ON TIM BELL ROAD, WATERFORD, CA
ASSESSOR PARCEL NUMBER 080-023-004
WHEREAS, a request has been submitted by FH Land Investment, LLC (4805 Sisk Road, Modesto, CA 95357) Applicant on behalf of the Property Owner of Record (Mr. David Hendrick) as to Assessor Parcel Number 080-023-004 to subdivide 8.09± acres into fifty-two (52) residential lots located on Tim Bell Road. The project will connect to the City of Waterford sewer, water and storm drain services. The project site is designated by the City’s Vision 2025 General Plan as Low Density Residential (LDR) and is currently zoned Residential Single (RS); and
WHEREAS, said tentative subdivision map was received in the office of the Secretary of the Planning Commission on May 8, 2024, and was accepted for filing and deemed complete on September 24, 2024, in accordance with the provisions of Title 16: Subdivisions of the Waterford Municipal Code; and
WHEREAS, copies of said vesting tentative subdivision map have been sent to the Waterford Unified School District, Modesto Irrigation District, the local utility companies, and the City Departments; and
WHEREAS, the Planning Commission has considered an Initial Study, which concluded that the proposed tentative subdivision map is within the scope of the previously certified City of Waterford Vision 2025 General Plan Environmental Impact Report, and in accordance with Section 15074 of the CEQA Guidelines, a Mitigated Negative Declaration (SCH No. 2024050940) has been prepared and considered; and
WHEREAS, the Planning Commission held a duly noticed Public Hearing on October 22, 2024, and recommended that the City Council approve Rezone and VTSM 2024-03; and WHEREAS, the notice of the Public Hearing on the proposed Rezone and VTSM was published in the Waterford News, a newspaper of general circulation, on November 12, 2024; and WHEREAS, notices of the Public Hearing on the proposed Rezone and VTSM were mailed to all property owners within 300-feet of the property, according to the most recent Assessor’s roll, on November 12, 2024; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred.

NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Waterford makes the following findings and determinations:

1. The proposed vesting tentative subdivision map, together with the provisions for its design and improvements, and subject to the conditions is consistent with the Vision 2025 General Plan and the Subdivision Map Act of the State of California.

2. The discharge of waste as a result of the proposed subdivision into the existing sewer system will not result in a violation of existing requirements by the California Regional Water Quality Control Board pursuant to Division 7 (commencing with Section 13000) of the Water Code of the State of California.

3. As per Sections 15182 and 15162 of the California Environmental Quality Act ("CEQA") Guidelines, this Project is within the scope of the projects covered by the Vision 2025 General Plan EIR.

4. Based on the project’s Initial Study, a Mitigated Negative Declaration (SCH No. 2024050940) has been prepared for the project and it has been determined that the proposed project will not have a significant environmental effect, and no mitigation measures are required in accordance with the California Environmental Quality Act (CEQA).

5. Constitutionality, severability. If any section, subsection, sentence, clause, phrase, word of this resolution is for any reason held by a court of competent jurisdiction to be unconstitutional or invalid for any reason, such decision shall not affect the validity of the remaining portions of the resolution. The Planning Commission of the City of Waterford hereby declares that it would have passed this resolution and each section, subsection, sentence, clause, phrase, and word thereof, irrespective of the fact that any one or more section(s), subsection(s), sentence(s), clause(s), phrase(s), or word(s) be declared invalid.

NOW, THEREFORE BE IT FURTHER RESOLVED BY THE WATERFORD CITY COUNCIL that it approves Vesting Tentative Subdivision Map No. 2024-0003 (VTSM 2024- 0003), subject to the following conditions:

Project Authorization

1. The project shall be in conformance with all City Ordinances, rules, regulations, and policies.

The conditions listed below are particularly pertinent to this approval but shall not be construed to permit violation of other laws and polices not so listed.

2. Approval is limited to the conformance of the land use and zoning designations. Use of the property shall be limited to those permitted in the Planned Community (PC) zoning district as applicable, as it exists now or may be amended in the future.

3. The VTSM shall expire by: November 21, 2026 unless a building permit is issued, or a request for an extension is received by the City prior to the expiration of the VTSM and approved by the Planning Commission.

4. The applicant and/or outside party have the right to appeal, within 10 days, any decision of the Planning Commission to the City Council per the provisions contained in the Waterford Municipal Code.

Conditions of Approval
Planning Department

1. Prior to the issuance of a Final Map, the applicant shall demonstrate conformance to the following conditions to the satisfaction of the Planning Department and Public Works Department: The applicant shall respond in writing to all conditions contained in this document and its attachments. Responses shall describe how the condition has been met and shall; where applicable, direct the plan checker to the page and/or drawing detail that demonstrates compliance with the condition. A copy of these responses shall be provided with each set of the final Site Plan and improvement plans.

2. Development shall conform to the map designated by the City Planning Department as Exhibit A. Exhibit A shall consist of the submitted map amended by the applicant to reflect any changes indicated above in the Project Specific Conditions or required by the City in the approval process. The applicant shall submit any required amended maps to the Planning Department within 90 days of project approval. Failure to submit the amended map will result in a delay in processing and/or approval of the final map.

3. The development impact fees and project processing fees due in connection with this project shall be based upon the fees in effect at the time the fee is paid unless modified by a Development Agreement or other mechanism approved by the City. All developers of property within this project site shall pay the appropriate City Capital Facilities Fees and County Public Facilities Fees, Waterford Unified School District fees, and any other applicable fees in place. These fees may be adjusted annually based on the construction cost index or other method as approved by the City.

4. The Planning Department may approve minor amendments to the permit, provided that the permit is still in substantial conformance with the original approval. A request for a minor amendment shall be submitted in writing to the Planning Department.

5. Approval of this VTSM shall not be valid until such time the Waterford City Council has approved an Ordinance rezoning the Project site from RS to PC 2024-02.

6. Any plans associated with the permit shall be in substantial conformance to the approved site plan and the development shall be consistent with the applicable sections of the General Plan, Zoning Ordinance, and Specific Plan (if applicable). Violation of any provision(s) may result in Code Enforcement action, which may include revocation of permit and/or monetary penalties.

7. All signage shall be consistent with the standards and guidelines established in Chapter 17.60 of the Waterford Municipal Code. If applicable, a sign permit shall be obtained from the Planning Department prior to the construction of any project signage if said permit was not obtained with the original project approval.

8. The final map shall be in substantial compliance to the approved VTSM 2024-0003 and the development shall be consistent with applicable section of the General Plan and Zoning Ordinance.

9. Prior to the approval and recordation of the Project’s Final Map, the applicant shall annex the Project into Community Facilities District No. 2019-01.

10. Consistent with the development standards of Planning Community (PC) No. 2024-02, lots developed within the Project shall contain the following development standards:

Development Standard PC 2024-02
Lot Dimensions
Lot Size (Minimum) 3,500 square feet
Lot Width (Minimum) Interior – 45 feet
Corner – 45 feet
Lot Coverage (Maximum) 55%
Setbacks (Minimum)
Front 15 feet
Rear 8 feet
Side
Interior – 4 feet
Corner (Interior) – 4 feet
Corner (Street Side) – 10 feet

11. The developer shall enter into a subdivision improvement agreement prior to the recordation of the final map. The subdivision improvement agreement shall be reviewed and approved by the City Attorney and Waterford City Council prior to the recordation and acceptance of the Final Map.

12. The developer will defend, indemnify, and hold harmless the City, its agents, officers, employees and volunteers from and against all claims, lawsuits or causes of action (whether brought solely against the City or jointly against both City, developer, or others), damages, losses, and expenses, including attorney fees, arising in any manner out of the approval or the application approved herein, including, without limitation, all actions or proceedings to attack, set aside, void or annul the permit granted pursuant to the City’s approval of the application referenced herein, provided the City notifies the developer within a reasonable time of any such claim, action or proceeding, and cooperates in the defense of such claims, actions or proceedings.

13. The developer shall install steel posts as part of the “good neighbor” fence erected between lot thirty-seven (37) and the property located at 628 Tim Bell Road (APN 080-023-003).

Building Department

1. Approval of the VTSM 2024-03 is not an authorization to commence construction. Building construction, alterations, repairs, sign erection, or occupancy shall not be permitted without prior approval of the Building Department through issuance of any required permits.

2. Prior to the issuance of Building Permits, the applicant shall provide written proof that the applicable Waterford School District fees have been paid.

3. Prior to the issuance of a Building Permit, the applicant shall pay the applicable Stanislaus County Public Facilities Fee.

4. Prior to the issuance of a Building Permit, the applicant shall pay the applicable Stanislaus Consolidated Fire Protection District Capital Facilities Fee.

5. All construction shall meet the requirements of the currently adopted California Building, Fire, Mechanical, Plumbing, Electrical, and Energy Codes, as well as all Administrative, Residential and Green Building referenced standards.

6. A sprinkler system shall be required for any construction. The applicant shall mark the location of fire walls on the exterior of the building in a manner approved by the Building Department.

7. The applicant shall provide on-site restroom facilities during construction.

Public Works/Engineering

1. Improvement Plans prepared by a registered civil engineer shall be submitted to the City Engineer for review and approval. All required structures such as walls, fences, drainage facilities, water mains, sewer lines and streetlights shall be shown on the plans along with curb, gutter, sidewalk, edge of pavement and utilities. All existing structures not shown on the tentative map or shown as “to be removed” shall be removed prior to the recording of the final map.

2. A grading and drainage plan shall be submitted to, and approved by, the City Engineer prior to the start of work at the site. No grade severance to adjacent properties shall be created.

All structures such as walls, fences, drainage facilities, water mains and streetlights shall be shown on the plan.

3. Encroachment permits shall be required for all work within the current and proposed public right-of-way. Any work done in the current and proposed public right-of-way shall be approved by the City Engineer prior to the start of construction. Bonding for those improvements will be required as specified by Public Works/City Engineer.

4. Lighting: The lighting system shall be designed to best serve the area and to minimize the length of service runs from the points of connection to the streetlights. All lighting shall be installed according to current City Standards.

5. Cable Television: Cable television facilities including pedestals and junction boxes shall be underground in street right-of-ways or easements with service provided to each lot.

6. Prior to the start of underground work/digging the developer shall contact USA (Underground Service Alert) at 1-800-642-2444.

7. Appropriate dust control shall be provided at the contractor’s expense to minimize any dust nuisance and shall be in accordance with Section 10 of Caltrans standard specifications.

8. The developer shall be responsible for all work performed by contractors or subcontractors.

9. The contractor shall provide all lights, signs, barricades, flagmen or other devices necessary for public safety in accordance with the current issue of “Manual of Traffic Controls, Warning Signs, Lights and Devices for Use in Performance of Work Upon Highways,” published by the State of California Business and Transportation Agency.

10. Materials testing required by the City Engineer for work shall be provided by the Developer and submitted to the City Engineer for approval. All costs associated with material testing shall be at the Developer’s expense.

11. Prior to final acceptance of the improvements, the developer shall provide a set of “as-built” drawings to the City Engineer. These drawings shall be in black ink on Mylar, meeting the requirements of Sections 66434 of the Subdivision Map Act.

12. Developer shall remove all septic tanks and abandon existing water wells to the satisfaction of the City Engineer.

Streets:

1. Public streets shall be built to City of Waterford Standards in accordance with Waterford Municipal Codes Title 16 and Title 17 and the Waterford General Plan.

2. Through review of the project’s Improvement Plans, the City Engineer and developer shall establish and agree upon the project’s area of impact, specifically related to the project’s construction impacts to Tim Bell Road via the connection and installation of underground improvements. Construction impacts to these roadways shall be mitigated by the developer via overlay improvements on said roadways. The scope of these impacts and overlay improvements shall be defined in the project’s Improvement Plans and Subdivision Improvement Agreement.

3. A ten (10) foot wide Public Utility Easement shall be provided on all street frontages within the development.

4. Curbs, gutters and sidewalks shall be constructed and/or repaired in accordance with the City Standards and the requirements of Title 16 of the Waterford Municipal Code.

5. Street survey monuments and covers shall be placed on the centerline of each street at all intersections, beginnings and ends of curves, changes of direction, and other locations as directed by the City Engineer.

6. Curb ramps shall be constructed at all intersections and shall comply with Section 2-7103 in the current edition of the State Building Code and the Americans with Disabilities Act (ADA).

7. The developer shall be responsible for obtaining soil R-value tests, specifically supervised by the City Engineer, in sufficient quantity to establish the quality of the soil and a basis for the preliminary structural section.

Water:

1. Individual water services shall be provided to each parcel from the public water main in all public streets.

2. Provide a looped water system, a minimum of two connections to the City water system are required throughout all phases.

3. Provide locations of all water valves and fire hydrants within the development. All water valves and fire hydrants shall have a maximum spacing in accordance with the current City Design Standards.

Sanitary Sewer:

1. A sewer service shall be installed by the developer to each lot and shall be sized to carry the quantity of sewage which will be discharged from the service area with a minimum design flow of 300 gallons/day plus infiltration. For the purpose of sewer capacity calculations, a peaking factor of 2.5 shall be used. All sewer laterals shall have a minimum cover of 3 feet, 6 inches from the top of the pipe to finished grade at center line. Sewers within 100 feet of domestic wells shall be cast iron or ductile iron. All sewer mains shall extend to the center of property frontage. Sewer mains shall be designed according to current City Standards.

2. Single family residential properties shall be served by 4-inch sewer service laterals. Other uses such as commercial and multi-family residential uses shall install laterals according to City Standard and to the satisfaction of the City Engineer.

Storm Drainage:

1. Project design and construction shall be in compliance with the State Water Resources Control Board’s Phase II MS4 permit.

2. All storm drainage improvements shall be designed in accordance with the design criteria set forth in Chapter 4 of the Stanislaus County Standards and Specifications.

3. All storm drainage improvements shall be tied into existing storm drain lines. The engineer shall provide calculations to verify downstream capacity. In the event that downstream improvements are required, the developer shall construct all necessary improvements or contribute this project’s fair share of improvements.

Modesto Irrigation District:

1. The Developer and/or Project Proponent shall install a six (6) foot tall CMU wall along the Project site’s southern border, adjacent to the Lower Main Canal.

San Joaquin Valley Air Pollution Control District:

1. The Developer and/or Project Proponent shall comply with the San Joaquin Valley Air Pollution Control District letter, dated June 4, 2024. A copy of said letter can be obtained from the City’s Planning Department.

CEQA Mitigation Measures:

1. The Developer and/or Project Proponent shall comply with the Mitigation Monitoring/Reporting Program (MMRP), dated July 2024, prepared for the Waterstone Residential Subdivisions Mitigated Negative Declaration. A copy of the MMRP is on file with the Waterford Planning Department.

The foregoing Resolution was passed and adopted by the City Council of the City of Waterford, Stanislaus County, at a regular meeting held on November 21, 2024, moved for adoption by Council Member ________ and duly seconded by Council Member _________; passed by the following roll call vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

ATTEST:
_________________________ _____________________________ Mayor Charle Goeken Patricia Krause, City Clerk
Exhibit A – VTSM 2024-0003

0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
1 Street Scene
Note: Artist’s Conception; Colors, Materials
And Application May Vary.

Plan 3 Cottage Plan 1 Farmhouse Plan 2 Traditional
0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 2 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
3 30 SC 68
2668 2668
16'-0" x 7'-0" SECT. GAR. DOOR
2468
2868
21068
2468
5068 BI-PASS
5068 BI-PASS
28 SC
68 2868
21068
6068 TEMP. GL. SLIDER
6068 TEMP. GL. SLIDER
4040 SL
5040 SL
2040 SH
2068
20'-0" x 21'-0"
2 Bay Garage

KITCHEN
10'-6" x 11'-0"
BEDROOM 2
10'-6" x 10'-0"
BEDROOM 3
12'-8" x 12'-3"
PRIM. BEDROOM
13'-8" x 16'-2"
LIVING
9'-0" x 7'-2"
DINING
SERV.

PRIM.

BA.

C.

LINEN
COV.

ENTRY
ENTRY
BA. 2
W.
45'
90'
11'-01
2 "
36'-0"
4'-10" 20'-11
2 "
48'-6"
2'-0" 46'-6"
21'-7" 3'-0" 9'-5" 12'-6"
36'-0"
22'-91
2 " 13'-21
2 "
48'-6"
11'-7" 2'-0" 5'-7" 2'-0" 10'-7" 16'-9"
OPT.

ISLAND
18'-0"
20'-0"
23'-6"
C HS
HS C
4'-0" 5'-0"
5040 SL
OPT.

W D
6040 SL
HS C
C HS
C HS
C HS

1.2.0 1,224 SF
3 Bdrm|2 Bath
Covered Entry - 32 SF
2-Bay Garage - 450 SF
8' Plate

WATERSTONE

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16

FLOOR PLAN
Plan 1 | Traditional
P:\2023\2023360\Single-Family\Design\D_1.2.0.dwg, 1/22/2024 2:14:54 PM, _AutoCAD PDF (General Documentation).pc3 30 SC 68
2668 2668
16'-0" x 7'-0" SECT. GAR. DOOR
2468
2868
21068
2468
5068 BI-PASS
5068 BI-PASS
28 SC
68 2868
21068
6068 TEMP. GL. SLIDER
6068 TEMP. GL. SLIDER
4040 SL
5040 SL
2040 SH
2068
20'-0" x 21'-0"
2 Bay Garage

KITCHEN
10'-6" x 11'-0"
BEDROOM 2
10'-6" x 10'-0"
BEDROOM 3
12'-8" x 12'-3"
PRIM. BEDROOM
13'-8" x 16'-2"
LIVING
9'-0" x 7'-2"
DINING
SERV.

PRIM.

BA.

C.

LINEN
COV.

ENTRY
ENTRY
BA. 2
W.
45'
90'
11'-01
2 "
36'-0"
4'-10" 20'-11
2 "
48'-6"
2'-0" 46'-6"
21'-7" 3'-0" 9'-5" 12'-6"
36'-0"
22'-91
2 " 13'-21
2 "
48'-6"
11'-7" 2'-0" 5'-7" 2'-0" 10'-7" 16'-9"
OPT.

ISLAND
18'-0"
20'-0"
23'-6"
C HS
HS C
4'-0" 5'-0"
5040 SL
OPT.

W D
6040 SL
HS C
C HS
C HS
C HS

1.2.0 1,224 SF
3 Bdrm|2 Bath
Covered Entry - 32 SF
2-Bay Garage - 450 SF
8' Plate

WATERSTONE

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16

FLOOR PLAN
Plan 1 | Traditional
P:\2023\2023360\Single-Family\Design\D_1.2.0.dwg, 1/22/2024 2:14:54 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 4 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
5 30 SC 68
2668 2668
16'-0" x 7'-0" SECT. GAR. DOOR
2468
2868
21068
2468
5068 BI-PASS
5068 BI-PASS
28 SC
68 2868
21068
6068 TEMP. GL. SLIDER
6068 TEMP. GL. SLIDER
4040 SL
5040 SL
2040 SH
2068
20'-0" x 21'-0"
2 Bay Garage

KITCHEN
10'-6" x 11'-0"
BEDROOM 2
10'-6" x 10'-0"
BEDROOM 3
12'-8" x 12'-3"
PRIM. BEDROOM
13'-8" x 16'-2"
LIVING
9'-0" x 7'-2"
DINING
SERV.

PRIM.

BA.

C.

LINEN
COV.

ENTRY
ENTRY
BA. 2
W.
45'
90'
11'-01
2 "
36'-0"
4'-10" 20'-112
"
48'-6"
2'-0" 46'-6"
21'-7" 3'-0" 9'-5" 12'-6"
36'-0"
22'-91
2 " 13'-21
2 "
48'-6"
11'-7" 2'-0" 5'-7" 2'-0" 10'-7" 16'-9"
OPT.

ISLAND
18'-0"
20'-0"
23'-6"
C HS
HS C
4'-0" 5'-0"
5040 SL
OPT.

W D
6040 SL
HS C
C HS
C HS
C HS

1.4.0 Plan 1 | Farmhouse

WATERSTONE

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
1,228 SF
3 Bdrm|2 Bath
Covered Entry - 32 SF
2-Bay Garage - 447 SF
8' Plate

FLOOR PLAN
1,228 SF
3 Bdrm|2 Bath
Covered Entry - 32 SF
2-Bay Garage - 447 SF
8' Plate

FLOOR PLAN
P:\2023\2023360\Single-Family\Design\D_1.4.0.dwg, 1/22/2024 5:27:18 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 6 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
7 30 SC 68
2668 2668
16'-0" x 7'-0" SECT. GAR. DOOR
2468
2868
21068
2468
5068 BI-PASS
5068 BI-PASS
28 SC
68 2868
21068
6068 TEMP. GL. SLIDER
6068 TEMP. GL. SLIDER
4040 SL
2040 SH
2068
20'-0" x 21'-0"
2 Bay Garage

KITCHEN
10'-6" x 11'-0"
BEDROOM 2
10'-6" x 10'-0"
BEDROOM 3
12'-8" x 12'-3"
PRIM. BEDROOM
13'-8" x 16'-2"
LIVING
9'-0" x 7'-2"
DINING
SERV.

PRIM.

BA.

C.

LINEN
COV.

ENTRY
ENTRY
BA. 2
W.
45'
90'
36'-0"
4'-10" 20'-112
"
48'-6"
2'-0" 46'-6"
21'-7" 3'-0" 9'-5" 12'-6"
36'-0"
22'-91
2 " 13'-21
2 "
48'-6"
11'-7" 2'-0" 5'-7" 2'-0" 10'-7" 16'-9"
OPT.

ISLAND
20'-0"
23'-6"
C HS
HS C
4'-0" 5'-0"
5040 SL
OPT.

W D
6040 SL
HS C
C HS
C HS
C HS
5040 SL
11'-01
2 "
36'-0"

1.5.0 Plan 1 | Cottage

WATERSTONE

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
1,228 SF
3 Bdrm|2 Bath
Covered Entry - 32 SF
2-Bay Garage - 447 SF
8' Plate

FLOOR PLAN
P:\2023\2023360\Single-Family\Design\D_1.5.0.dwg, 1/22/2024 5:27:23 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 8 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
9 RIDGE
RIDGE
VALLEY
4:12
VALLEY
4:12
4:124:12
RIDGE
RIDGE
HIP
4:12
HIP
4:12
4:12
4:124:12
HIP
HIP
HIP
HIP
VALLEY
4:12
RIDGE
RIDGE
VALLEY
4:12
VALLEY
4:12
4:124:12
PLAN 1
Roof Plans
Plan 1 | Traditional Plan 1 | Farmhouse Plan 1 | Cottage Eave 12" / Rake 6"

WATERSTONE

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16

1.6.0 Eave 12" / Rake 6" Eave 12" / Rake 6"
P:\2023\2023360\Single-Family\Design\D_1.6.0.dwg, 1/22/2024 2:15:47 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
10 Plan 2
Plan 2 Plan 2
Note: Artist’s Conception; Colors, Materials
And Application May Vary.
0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
11 15'-0"20'-0"
5068 BI-PASS
4'-0"
30 SC 68
68 210
5040 SL
4040 SL
15'-0"
5'-0"
2468
21068
2668
2868
16'-0" x 7'-0" SECT. GAR. DOOR
2868
2668
2068
6068 TEMP. GL. SLIDER
6068 TEMP. GL. SLIDER
2468
2040 SH
2868
4040 SH
36'-0"
15'-101
2 " 20'-11
2 "
60'-0"
5'-0" 55'-0"
36'-0"
21'-6" 14'-6"
60'-0"
26'-9" 10'-7" 2'-0" 5'-7" 3'-6" 11'-7"
10'-9" 5'-11
2 "
20'-7" 10'-0" 11'-10" 12'-7"
45'
90'
20'-0" x 22'-11"
2 Bay Garage

KITCHEN
10'-2" x 11'-0"
BEDROOM 2
10'-2" x 10'-0"
BEDROOM 3
14'-3" x 12'-0"

PRIMARY BEDROOM
13'-0" x 17'-0"
LIVING 8'-0" x 16'-0"
DINING
SERV.

OPT. BEDROOM 4
PRIM.

BA.

COATS
BA. 2
W.

W.
14'-3" x 7'-5"

STORAGE
COV.

ENTRY
ENTRY
2468
2668
OPT.
5040 SL
2068
C HS
C HS
C HS
C HS
C HS
C HS
W D
6040 SL
LINEN
LOW
LINEN
OPT.

ISLAND
W.
11'-11" x 10'-0"
BEDROOM 4
5040 SL
BI-PASS 5068
2668
2068
SERV.

C. LINEN
2068
2868
2 WATERSTONE 2.2.0

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
1,440 SF
3 Bdrm|2 Bath|Opt. Bd. 4
Covered Entry - 42 SF
2-Bay Garage - 569 SF
8' Plate

FLOOR PLAN
Plan 2 | Traditional
OPT. BEDROOM 4
(+150 SQ.FT.)
P:\2023\2023360\Single-Family\Design\D_2.2.0.dwg, 1/22/2024 5:27:26 PM, _AutoCAD PDF (General Documentation).pc3 15'-0"20'-0"
5068 BI-PASS
4'-0"
30 SC 68
68 210
5040 SL
4040 SL
15'-0"
5'-0"
2468
21068
2668
2868
16'-0" x 7'-0" SECT. GAR. DOOR
2868
2668
2068
6068 TEMP. GL. SLIDER
6068 TEMP. GL. SLIDER
2468
2040 SH
2868
4040 SH
36'-0"
15'-101
2 " 20'-11
2 "
60'-0"
5'-0" 55'-0"
36'-0"
21'-6" 14'-6"
60'-0"
26'-9" 10'-7" 2'-0" 5'-7" 3'-6" 11'-7"
10'-9" 5'-11
2 "
20'-7" 10'-0" 11'-10" 12'-7"
45'
90'
20'-0" x 22'-11"
2 Bay Garage

KITCHEN
10'-2" x 11'-0"
BEDROOM 2
10'-2" x 10'-0"
BEDROOM 3
14'-3" x 12'-0"

PRIMARY BEDROOM
13'-0" x 17'-0"
LIVING 8'-0" x 16'-0"
DINING
SERV.

OPT. BEDROOM 4
PRIM.

BA.

COATS
BA. 2
W.

W.
14'-3" x 7'-5"

STORAGE
COV.

ENTRY
ENTRY
2468
2668
OPT.
5040 SL
2068
C HS
C HS
C HS
C HS
C HS
C HS
W D
6040 SL
LINEN
LOW
LINEN
OPT.

ISLAND
W.
11'-11" x 10'-0"
BEDROOM 4
5040 SL
BI-PASS 5068
2668
2068
SERV.

C. LINEN
2068
2868
2 WATERSTONE 2.2.0

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
1,440 SF
3 Bdrm|2 Bath|Opt. Bd. 4
Covered Entry - 42 SF
2-Bay Garage - 569 SF
8' Plate

FLOOR PLAN
Plan 2 | Traditional
OPT. BEDROOM 4
(+150 SQ.FT.)
P:\2023\2023360\Single-Family\Design\D_2.2.0.dwg, 1/22/2024 5:27:26 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 12 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
13 15'-0"
20'-0"
5068 BI-PASS
4'-0"
30 SC 68
68 210
5040 SL
4040 SL
15'-0"
5'-0"
2468
21068
2668
2868
16'-0" x 7'-0" SECT. GAR. DOOR
2868
2668
2068
6068 TEMP. GL. SLIDER
6068 TEMP. GL. SLIDER
2468
2040 SH
2868
4040 SH
36'-0"
15'-101
2 " 20'-11
2 "
60'-0"
5'-0" 55'-0"
36'-0"
21'-6" 14'-6"
60'-0"
26'-9" 10'-7" 2'-0" 5'-7" 3'-6" 11'-7"
10'-9" 5'-11
2 "
20'-7" 10'-0" 11'-10" 12'-7"
45'
90'
20'-0" x 22'-11"
2 Bay Garage

KITCHEN
10'-2" x 11'-0"
BEDROOM 2
10'-2" x 10'-0"
BEDROOM 3
14'-3" x 12'-0"

PRIMARY BEDROOM
13'-0" x 17'-0"
LIVING 8'-0" x 16'-0"
DINING
SERV.

OPT. BEDROOM 4
PRIM.

BA.

COATS
BA. 2
W.

W.
14'-3" x 7'-5"

STORAGE
COV.

ENTRY
ENTRY
2468
2668
OPT.
5040 SL
2068
C HS
C HS
C HS
C HS
C HS
C HS
W D
6040 SL
LINEN
LOW
LINEN
OPT.

ISLAND
WATERSTONE 2.4.0

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
1,440 SF
3 Bdrm|2 Bath|Opt. Bd. 4
Covered Entry - 42 SF
2-Bay Garage - 569 SF
8' Plate

FLOOR PLAN
Plan 2 | Farmhouse
P:\2023\2023360\Single-Family\Design\D_2.4.0.dwg, 1/22/2024 5:27:35 PM, _AutoCAD PDF (General Documentation).pc3 15'-0"
20'-0"
5068 BI-PASS
4'-0"
30 SC 68
68 210
5040 SL
4040 SL
15'-0"
5'-0"
2468
21068
2668
2868
16'-0" x 7'-0" SECT. GAR. DOOR
2868
2668
2068
6068 TEMP. GL. SLIDER
6068 TEMP. GL. SLIDER
2468
2040 SH
2868
4040 SH
36'-0"
15'-101
2 " 20'-11
2 "
60'-0"
5'-0" 55'-0"
36'-0"
21'-6" 14'-6"
60'-0"
26'-9" 10'-7" 2'-0" 5'-7" 3'-6" 11'-7"
10'-9" 5'-11
2 "
20'-7" 10'-0" 11'-10" 12'-7"
45'
90'
20'-0" x 22'-11"
2 Bay Garage

KITCHEN
10'-2" x 11'-0"
BEDROOM 2
10'-2" x 10'-0"
BEDROOM 3
14'-3" x 12'-0"

PRIMARY BEDROOM
13'-0" x 17'-0"
LIVING 8'-0" x 16'-0"
DINING
SERV.

OPT. BEDROOM 4
PRIM.

BA.

COATS
BA. 2
W.

W.
14'-3" x 7'-5"

STORAGE
COV.

ENTRY
ENTRY
2468
2668
OPT.
5040 SL
2068
C HS
C HS
C HS
C HS
C HS
C HS
W D
6040 SL
LINEN
LOW
LINEN
OPT.

ISLAND
WATERSTONE 2.4.0

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
1,440 SF
3 Bdrm|2 Bath|Opt. Bd. 4
Covered Entry - 42 SF
2-Bay Garage - 569 SF
8' Plate

FLOOR PLAN
Plan 2 | Farmhouse
P:\2023\2023360\Single-Family\Design\D_2.4.0.dwg, 1/22/2024 5:27:35 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 14 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
15 15'-0"
20'-0"
5068 BI-PASS
4'-0"
30 SC 68
68 210
4040 SL
15'-0"
5'-0"
2468
21068
2668
2868
16'-0" x 7'-0" SECT. GAR. DOOR
2868
2668
2068
6068 TEMP. GL. SLIDER
6068 TEMP. GL. SLIDER
2468
2040 SH
2868
4040 SH
36'-0"
1 2
" 20'-11
2 "
60'-0"
5'-0" 55'-0"
36'-0"
21'-6" 14'-6"
60'-0"
26'-9" 10'-7" 2'-0" 5'-7" 3'-6" 11'-7"
5'-11
2 "
20'-7" 10'-0" 11'-10" 12'-7"
45'
90'
20'-0" x 22'-11"
2 Bay Garage

KITCHEN
10'-2" x 11'-0"
BEDROOM 2
10'-2" x 10'-0"
BEDROOM 3
14'-3" x 12'-0"

PRIMARY BEDROOM
13'-0" x 17'-0"
LIVING 8'-0" x 16'-0"
DINING
SERV.

OPT. BEDROOM 4
PRIM.

BA.

COATS
BA. 2
W.

W.
14'-3" x 7'-5"

STORAGE
COV.

ENTRY
ENTRY
2468
2668
OPT.
5040 SL
2068
C HS
C HS
C HS
C HS
C HS
C HS
W D
6040 SL
LINEN
LOW
LINEN
OPT.

ISLAND
10'-9"
36'-0"
5040 SL
15'-101
2 "
WATERSTONE 2.5.0

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
1,440 SF
3 Bdrm|2 Bath|Opt. Bd. 4
Covered Entry - 42 SF
2-Bay Garage - 569 SF
8' Plate

FLOOR PLAN
Plan 2 | Cottage
P:\2023\2023360\Single-Family\Design\D_2.5.0.dwg, 1/22/2024 5:27:40 PM, _AutoCAD PDF (General Documentation).pc3 15'-0"
20'-0"
5068 BI-PASS
4'-0"
30 SC 68
68 210
4040 SL
15'-0"
5'-0"
2468
21068
2668
2868
16'-0" x 7'-0" SECT. GAR. DOOR
2868
2668
2068
6068 TEMP. GL. SLIDER
6068 TEMP. GL. SLIDER
2468
2040 SH
2868
4040 SH
36'-0"
1 2
" 20'-11
2 "
60'-0"
5'-0" 55'-0"
36'-0"
21'-6" 14'-6"
60'-0"
26'-9" 10'-7" 2'-0" 5'-7" 3'-6" 11'-7"
5'-11
2 "
20'-7" 10'-0" 11'-10" 12'-7"
45'
90'
20'-0" x 22'-11"
2 Bay Garage

KITCHEN
10'-2" x 11'-0"
BEDROOM 2
10'-2" x 10'-0"
BEDROOM 3
14'-3" x 12'-0"

PRIMARY BEDROOM
13'-0" x 17'-0"
LIVING 8'-0" x 16'-0"
DINING
SERV.

OPT. BEDROOM 4
PRIM.

BA.

COATS
BA. 2
W.

W.
14'-3" x 7'-5"

STORAGE
COV.

ENTRY
ENTRY
2468
2668
OPT.
5040 SL
2068
C HS
C HS
C HS
C HS
C HS
C HS
W D
6040 SL
LINEN
LOW
LINEN
OPT.

ISLAND
10'-9"
36'-0"
5040 SL
15'-101
2 "
WATERSTONE 2.5.0

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
1,440 SF
3 Bdrm|2 Bath|Opt. Bd. 4
Covered Entry - 42 SF
2-Bay Garage - 569 SF
8' Plate

FLOOR PLAN
Plan 2 | Cottage
P:\2023\2023360\Single-Family\Design\D_2.5.0.dwg, 1/22/2024 5:27:40 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 16 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
17 RIDGE
RIDGE
4:12
VALLEY
4:12
4:12
4:124:12
HIP
HIP
HIP
HIP
RIDGE
RIDGE
4:12
VALLEY
4:12
4:12
4:124:12
HIP
HIP
HIP
HIP
HIP
HIP
4:12
RIDGE
RIDGE
4:12
4:124:12
PLAN 2
Roof Plans
Plan 2 | Traditional Plan 2 | Farmhouse Plan 2 | Cottage Eave 12" / Rake 6"

WATERSTONE

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
Eave 12" / Rake 6" Eave 12" / Rake 6"

2.6.0 P:\2023\2023360\Single-Family\Design\D_2.6.0.dwg, 1/22/2024 2:16:51 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 18 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
19 30 SC 68
5'-6" 5'-6"
2868
16'-0" x 7'-0" SECT. GAR. DOOR
2868
45'
90'
20'-0"
FX
TEMP. GL.
2040
TEMP. GL.
2040 SH
2468
UP
15R
2468
6068 TEMP. GL. SLIDER
20'-0" x 22'-7"
2 Bay Garage
KITCHEN 20'-4" 13'-9" x
LIVING
13'-2" 8'-4"
x
DINING
C.

COV. ENTRY
PDR.

ENTRY
34'-0"
13'-5" 20'-7"
42'-9"42'-9"
4'-91
2 "
5'-0" 32'-111
2 "
34'-0"
13'-81
2 " 20'-31
2 "
23'-1" 14'-4" 5'-4"
5'-9" 7'-7" 19'-71
2 "
27'-3"
32'-7"
PANTRY
6040 SL
HS C
C HS
C HS
6040 SL
9'-10" x 10'-0"
BEDROOM 3
10'-0" x 10'-6"
BEDROOM 4
4040 FX
2668
5068 BI-PASS
2040 SH 21068
21068
2468
2868
2668
DN
15R
5068 BI-PASS
2468
2668
4040 SL
4040 SL
4040 SL
5068 BI-PASS
2040 SH
5040 SL
FX 4040
10'-2" x 10'-0"
BEDROOM 2
14'-0" x 14'-0"

PRIMARY BEDROOM
SERV. BA. 2
W.

PRIM.

BA.

TECH. L.
34'-0"
34'-0"
37'-5"37'-5"
13'-5" 10'-51
2 " 10'-11
2 "
1'-0" 10'-5" 2'-0" 11'-5" 2'-0" 10'-7"
11'-1" 2'-0" 2'-2" 7'-7"
14'-51
2 " 3'-6" 5'-7" 10'-51
2 "

HS C C HS
C HS
D
W
14'-7"
OPT.2668
2868
5068 BI-PASS
2468
4040 SL
4040 SL
5068 BI-PASS
SERV. BA. 2

HS C C HS
D
W
TECH.

L.

LINEN
2668
20'-0" x 10'-6"

BUNK ROOM
WATERSTONE 3.2.0

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
1,730 SF
4 Bdrm|2.5 Bath|
Opt. Bunkroom |
Covered Entry - 64 SF
2-Bay Garage - 471 SF
8' Lower Plate
8' Upper Plate

FLOOR PLAN
Plan 3 | Traditional
SECOND LEVEL FLOOR PLAN - 988 SQ.FT. FIRST LEVEL FLOOR PLAN - 742 SQ.FT.

OPT. BUNKROOM
(@ BED 3 & BED 4)
P:\2023\2023360\Single-Family\Design\D_3.2.0.dwg, 1/23/2024 3:40:43 PM, _AutoCAD PDF (General Documentation).pc3 30 SC 68
5'-6" 5'-6"
2868
16'-0" x 7'-0" SECT. GAR. DOOR
2868
45'
90'
20'-0"
FX
TEMP. GL.
2040
TEMP. GL.
2040 SH
2468
UP
15R
2468
6068 TEMP. GL. SLIDER
20'-0" x 22'-7"
2 Bay Garage
KITCHEN 20'-4" 13'-9" x
LIVING
13'-2" 8'-4"
x
DINING
C.

COV. ENTRY
PDR.

ENTRY
34'-0"
13'-5" 20'-7"
42'-9"42'-9"
4'-91
2 "
5'-0" 32'-111
2 "
34'-0"
13'-81
2 " 20'-31
2 "
23'-1" 14'-4" 5'-4"
5'-9" 7'-7" 19'-71
2 "
27'-3"
32'-7"
PANTRY
6040 SL
HS C
C HS
C HS
6040 SL
9'-10" x 10'-0"
BEDROOM 3
10'-0" x 10'-6"
BEDROOM 4
4040 FX
2668
5068 BI-PASS
2040 SH 21068
21068
2468
2868
2668
DN
15R
5068 BI-PASS
2468
2668
4040 SL
4040 SL
4040 SL
5068 BI-PASS
2040 SH
5040 SL
FX 4040
10'-2" x 10'-0"
BEDROOM 2
14'-0" x 14'-0"

PRIMARY BEDROOM
SERV. BA. 2
W.

PRIM.

BA.

TECH. L.
34'-0"
34'-0"
37'-5"37'-5"
13'-5" 10'-51
2 " 10'-11
2 "
1'-0" 10'-5" 2'-0" 11'-5" 2'-0" 10'-7"
11'-1" 2'-0" 2'-2" 7'-7"
14'-51
2 " 3'-6" 5'-7" 10'-51
2 "

HS C C HS
C HS
D
W
14'-7"
OPT.2668
2868
5068 BI-PASS
2468
4040 SL
4040 SL
5068 BI-PASS
SERV. BA. 2

HS C C HS
D
W
TECH.

L.

LINEN
2668
20'-0" x 10'-6"

BUNK ROOM
WATERSTONE 3.2.0

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
1,730 SF
4 Bdrm|2.5 Bath|
Opt. Bunkroom |
Covered Entry - 64 SF
2-Bay Garage - 471 SF
8' Lower Plate
8' Upper Plate

FLOOR PLAN
Plan 3 | Traditional
SECOND LEVEL FLOOR PLAN - 988 SQ.FT. FIRST LEVEL FLOOR PLAN - 742 SQ.FT.

OPT. BUNKROOM
(@ BED 3 & BED 4)
P:\2023\2023360\Single-Family\Design\D_3.2.0.dwg, 1/23/2024 3:40:43 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 20 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
21 30 SC 68
5'-6" 5'-6"
2868
16'-0" x 7'-0" SECT. GAR. DOOR
2868
45'
90'
20'-0"
FX
TEMP. GL.
2040
TEMP. GL.
2040 SH
2468
UP
15R
2468
6068 TEMP. GL. SLIDER
20'-0" x 22'-7"
2 Bay Garage
KITCHEN 20'-4" 13'-9" x
LIVING
13'-2" 8'-4"
x
DINING
C.

COV. ENTRY
PDR.

ENTRY
34'-0"
13'-5" 20'-7"
42'-9"42'-9"
4'-91
2 "
5'-0" 32'-111
2 "
34'-0"
13'-81
2 " 20'-31
2 "
23'-1" 14'-4" 5'-4"
5'-9" 7'-7" 19'-71
2 "
27'-3"
32'-7"
PANTRY
6040 SL
HS C
C HS
C HS
6040 SL
9'-10" x 10'-0"
BEDROOM 3
10'-0" x 10'-6"
BEDROOM 4
4040 FX
2668
5068 BI-PASS
2040 SH 21068
21068
2468
2868
2668
DN
15R
5068 BI-PASS
2468
2668
4040 SL
4040 SL
4040 SL
5068 BI-PASS
2040 SH
5040 SL
FX 4040
10'-2" x 10'-0"
BEDROOM 2
14'-0" x 14'-0"

PRIMARY BEDROOM
SERV. BA. 2
W.

PRIM.

BA.

TECH. L.
34'-0"
34'-0"
37'-5"37'-5"
13'-5" 10'-512
" 10'-11
2 "
1'-0" 10'-5" 2'-0" 11'-5" 2'-0" 10'-7"
11'-1" 2'-0" 2'-2" 7'-7"
14'-51
2 " 3'-6" 5'-7" 10'-51
2 "

HS C C HS
C HS
D
W
14'-7"
OPT.2668

3.4.0 Plan 3 | Farmhouse

WATERSTONE

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16

FLOOR PLAN
1,730 SF
4 Bdrm|2.5 Bath|
Opt. Bunkroom |
Covered Entry - 64 SF
2-Bay Garage - 471 SF
8' Lower Plate
8' Upper Plate
SECOND LEVEL FLOOR PLAN - 988 SQ.FT. FIRST LEVEL FLOOR PLAN - 742 SQ.FT.

P:\2023\2023360\Single-Family\Design\D_3.4.0.dwg, 1/23/2024 3:40:26 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 22 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
23 30 SC 68
5'-6" 5'-6"
2868
16'-0" x 7'-0" SECT. GAR. DOOR
2868
45'
90'
20'-0"
FX
TEMP. GL.
2040
TEMP. GL.
2040 SH
2468
UP
15R
2468
6068 TEMP. GL. SLIDER
20'-0" x 22'-7"
2 Bay Garage
KITCHEN 20'-4" 13'-9" x
LIVING
13'-2" 8'-4"
x
DINING
C.

COV. ENTRY
PDR.

ENTRY
34'-0"
13'-5" 20'-7"
42'-9"42'-9"
4'-91
2 "
5'-0" 32'-111
2 "
34'-0"
13'-81
2 " 20'-31
2 "
23'-1" 14'-4" 5'-4"
5'-9" 7'-7" 19'-71
2 "
27'-3"
32'-7"
PANTRY
6040 SL
HS C
C HS
C HS
6040 SL
9'-10" x 10'-0"
BEDROOM 3
10'-0" x 10'-6"
BEDROOM 4
4040 FX
2668
5068 BI-PASS
2040 SH 21068
21068
2468
2868
2668
DN
15R
5068 BI-PASS
2468
2668
4040 SL
4040 SL
5068 BI-PASS
2040 SH
5040 SL
FX 4040
10'-2" x 10'-0"
BEDROOM 2
14'-0" x 14'-0"

PRIMARY BEDROOM
SERV. BA. 2
W.

PRIM.

BA.

TECH. L.
34'-0"
34'-0"
37'-5"37'-5"
13'-5" 10'-512
" 10'-11
2 "
1'-0" 10'-5" 2'-0" 11'-5" 2'-0" 10'-7"
11'-1" 2'-0" 2'-2" 7'-7"
14'-51
2 " 3'-6" 5'-7" 10'-51
2 "

HS C C HS
C HS
D
W
14'-7"
OPT.2668
5040 SL

3.5.0 Plan 3 | Cottage

WATERSTONE

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16

FLOOR PLAN
1,730 SF
4 Bdrm|2.5 Bath|
Opt. Bunkroom |
Covered Entry - 64 SF
2-Bay Garage - 471 SF
8' Lower Plate
8' Upper Plate
SECOND LEVEL FLOOR PLAN - 988 SQ.FT. FIRST LEVEL FLOOR PLAN - 742 SQ.FT.

P:\2023\2023360\Single-Family\Design\D_3.5.0.dwg, 1/23/2024 3:40:35 PM, _AutoCAD PDF (General Documentation).pc3 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
Note: Artist’s Conception; Colors, Materials 24 And Application May Vary. 0 2 4 8
© 2023 WILLIAM HEZMALHALCH ARCHITECTS, INC. DBA WHA | 2023360 | 01-23-24

WATERSTONE
WATERFORD, CA ORANGE COUNTY . LOS ANGELES . BAY AREA . SACRAMENTO

DESIGN SUBMITTAL
25 RIDGE
4:12
4:12
4:12
VALLEY
H
HIP 4:12

3.5:12

3.5:12
4:12
RIDGE
R
RIDGE
4:12
4:12
4:12
VALLEY
H
HIP 4:12

3.5:12
RIDGE
R
HIP
HIP
4:12
4:12
4:12
HIP
VALLEY
HIP
HIP
HIP 4:12

3.5:12
RIDGE
4:12
4:12
4:12
VALLEY
H
HIP 4:12

3.5:12

3.5:12
4:12
RIDGE
R
PLAN 3
Roof Plans
Plan 3 | Traditional Plan 3 | Farmhouse Plan 3 | Cottage Eave 12" / Rake 6"

WATERSTONE

MODESTO, CA
C 2020 WILLIAM HEZMALHALCH ARCHITECTS, INC. dba WHA. | 2023360 | 01-22-24 Scale: 1/4"=1'-0"
0 2 4 8 16
Eave 12" / Rake 6" Eave 12" / Rake 6"

3.6.0 P:\2023\2023360\Single-Family\Design\D_3.6.0.dwg, 1/22/2024 2:18:07 PM, _AutoCAD PDF (General Documentation).pc3

WATERFORD PLANNING COMMISSION
RESOLUTION NO. 2024-08

A RESOLUTION OF THE CITY OF WATERFORD

PLANNING COMMISSION RECOMMENDING TO THE

CITY COUNCIL APPROVAL OF A REZONE FROM

RESIDENTIAL SINGLE (RS) TO PLANNED COMMUNITY
2024-02 (PC #2024-02) TO ALLOW A SINGLE-FAMILY

HOUSING DEVELOPMENT PROPERTY LOCATED ON
TIM BELL ROAD, ASSESSOR PARCEL NUMBER 080-023-
004
WHEREAS, a request has been submitted by FH Land Investment, LLC (4805 Sisk Road, Modesto, CA 95357) Applicant on behalf of the Property Owner of Record (Mr. David Hendrick) as to Assessor Parcel Number 080-023-004, for a zone change of said property from Residential Single (RS) to Planned Community 2024-02 (PC #2024-02), to allow a single-family residential development, located on Tim Bell Road; and
WHEREAS, the Planning Commission held a noticed public hearing on October 22, 2024, and considered staff recommendations for approval, heard public testimony and adopted the following findings; and
WHEREAS, the notice of the special public hearing on the proposed Rezone was published in the Modesto Bee, a newspaper of general circulation, on October 11, 2024; and WHEREAS, notices of the special public hearing on the proposed Rezone were mailed to all property owners within 300-feet of the property, according to the most recent assessor’s roll, on October 9, 2024; and
WHEREAS, the Planning Commission has considered an Initial Study, which concluded that the proposed Rezone is within the scope of the previously certified City of Waterford Vision 2025 General Plan Environmental Impact Report, and in accordance with Section 15074 of the CEQA Guidelines, a Negative Declaration has been prepared and considered; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred.

NOW THEREFORE, BE IT RESOLVED by the Planning Commission of the City of Waterford makes the following findings and determinations:

1. The proposed Zoning District is consistent with the City of Waterford Vision 2025 General Plan, and specifically, the Low Density Residential (LD) land use designation assigned by the Vision 2025 General Plan.

Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8

2. The site is physically suitable for the density and/or intensity of the proposed Zoning District. The proposed density is approximately six (6) dwelling units per acre, which is consistent with the LD land use density range of 4 – 6 dwelling units per acre.

3. The proposed Zoning District is not likely to cause substantial environmental damage, or substantially and unavoidable injure fish or wildlife or their habitat. a. As per Sections 15182 and 15162 of the California Environmental Quality Act (“CEQA”) Guidelines, this Project is within the scope of the projects covered by the Vision 2025 General Plan Final EIR, and no new environmental document or findings are required by CEQA. Relevant mitigation measures from EIR have been made conditions of project approval.
b. There are no substantial changes proposed in the project, which result in new significant environmental effects, or a substantial increase in the severity of previously identified significant effects and, therefore, no major revisions to the EIR are required.
c. No substantial changes have occurred with respect to the circumstances under which the project is undertaken which will result in new significant environmental effects or a substantial increase in the severity of previously identified significant effects and therefore, no major revisions to the EIR are required. d. There is no new information of substantial importance that was not known and could not have been known with the exercise of reasonable diligence when the EIR was adopted which shows any of the following: one or more significant effects which is not discussed in the EIR; or, significant effects which were previously examined will be substantially more severe than previously shown; or, previously infeasible mitigation measures or alternatives are now feasible and would substantially reduce one or more significant effects of the project, but the project proponents decline to adopt the mitigation measure or alternative; or, mitigation measures or alternatives which are considerably different from those analyzed in the EIR would substantially reduce one or more significant effects on the environment, but the project proponents decline to adopt the mitigation measure or alternative.
e. In accordance with Section 15074 of the CEQA Guidelines, the City has prepared a Negative Declaration tiered from the City’s Vision 2025 General Plan EIR based on the analysis contained in the Initial Study prepared in accordance with Section 15063 of the CEQA Guidelines.

4. The Zoning District is required for public convenience and necessity.

Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8 a. The proposed Planned Community is consistent with the Vision 2025 General Plan because the project is consistent with the Low Density Residential (LD) land use designation for the site in both type and intensity of development. b. The project will provide needed single-family residential housing for the City of Waterford and assist in accommodating the City’s regional housing need as prescribed by State Housing Law.
c. The proposed Planned Community Zone, by reason of its design and conditions of approval will be compatible with the surrounding land uses.

5. Constitutionality, severability. If any section, subsection, sentence, clause, phrase, word of this resolution is for any reason held by a court of competent jurisdiction to be unconstitutional or invalid for any reason, such decision shall not affect the validity of the remaining portions of the resolution. The Planning Commission of the City of Waterford hereby declares that it would have passed this resolution and each section, subsection, sentence, clause, phrase, and word thereof, irrespective of the fact that any one or more section(s), subsection(s), sentence(s), clause(s), phrase(s), or word(s) be declared invalid.

NOW, THEREFORE BE IT FURTHER RESOLVED BY THE WATERFORD
PLANNING COMMISSION that it recommends to the City Council the property be rezoned from Residential Single (RS) to Planned Community 2024-2 (PC #2024-02).

The foregoing Resolution was passed and adopted by the Planning Commission of the City of Waterford, Stanislaus County, at a regular meeting held on October 22, 2024, moved for adoption by Commissioner Esther and duly seconded by Commissioner Barnes; passed by the following roll call vote:

AYES: Rivers, Barnes, Esther, Gray
NOES: None
ABSENT: Meshew
ABSTAIN: None
ATTEST:
______________________________ _____________________________ Chairperson Brandon Rivers Marissa Martinez, Secretary
Attachments:

Exhibit “A” – Draft City Council Ordinance
Exhibit “B” – Planned Community 2024-02 (PC #2024-02)
Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8 EXHIBIT A – DRAFT ORDINANCE
ORDINANCE NO. 2024-__

AN ORDINANCE OF THE CITY OF WATERFORD CITY COUNCIL
APPROVING AND ADOPTING REZONE TO PLANNED COMMUNITY 2024-02 (PC #2024-02) REZONING 8.09± ACRES; AS TO ASSESSOR PARCEL NUMBER 080-023-004 FROM RESIDENTIAL SINGLE (RS) DISTRICT TO PLANNED COMMUNITY 2024-02 (PC #2024-02)
WHEREAS, the City of Waterford is authorized by Title 17 Chapter 17.77, to initiate a rezone whenever public necessity and convenience and the general welfare require such amendment; and
WHEREAS, the City of Waterford Planning Commission conducted a Public Hearing on October 22, 2024, to consider the proposed Rezone to PC #2024-02.

WHEREAS, the City Council for the City of Waterford has made the following findings for adoption.

1. An application has been received from Fitzpatrick Homes with a proposal to subdivide approximately 8.09± acres into fifty-two (52) single-family residential lots on property assigned the following assessor parcel number: 080-023-004; and,

2. The project site is currently zoned Residential Single (RS) and has a General Plan Land Use Designation of Low Density Residential (LD); and

3. The applicant is proposing to rezone the subject property to Planned Community 2024- 02 (PC #2024-02); and

4. Notice of the public hearing on the proposed Rezone was published in the Modesto Bee, a newspaper of general circulation, on October 11, 2024; and

5. Notice of the public hearing on the proposed Rezone were mailed to all property owners affected by this action on October 9, 2024; and

6. Notices of the public hearing on the proposed Rezone were mailed to all property owners within 300-feet of the property, according to the most recent assessor’s roll, on October 9, 2024; and
Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8

7. The City finds that pursuant to the California Environmental Quality Act (CEQA), the Lead Agency (Waterford) has prepared an Initial Study and concludes that the proposed project is within the scope of the previously certified City of Waterford Vision 2025 General Plan Environmental Impact Report, and in accordance with Section 15074 of the CEQA Guidelines, a Mitigated Negative Declaration has been prepared and considered.

WHEREAS, a public hearing was held on October 22, 2024 and all comments were heard and considered by the City Council.

THE CITY COUNCIL OF THE CITY OF WATERFORD, COUNTY OF STANISLAUS, STATE OF CALIFORNIA, DOES ORDAIN AS FOLLOWS:

SECTION 1. ZONING MAP. The Zoning Map of the City of Waterford is hereby amended in the area described in Exhibit A attached hereto and by reference incorporated herein, to provide for the approval of a specific plan for Development to be known as PLANNED COMMUNITY 2024-02 (PC #2024-02), an amendment to 8.09± acres, APN 080-023-004 from property zoned RESIDENTIAL SINGLE (RS).

SECTION 2. FINDINGS. The approval of this ordinance is based on the following findings and determinations:

A. The Planning Commission, on October 22, 2024, held a noticed public hearing and made its written recommendation to the City Council to approve the rezoning to Planned Community 2024-02 (PC #2024-02).

B. The proposed rezoning is consistent with the goals, policies, and implementation measures and Low Density Residential (LD) land use of the City of Waterford Vision 2025 General Plan.

C. A noticed Public Hearing before the City Council was given in the form and manner required by State statute and the Waterford Municipal Code.

SECTION 3. CONDITIONS. The development is subject to the conditions and standards adopted in the City’s Vision 2025 General Plan for development which includes the following terms and conditions:

SECTION 4. The Zoning Map of the City of Waterford, which is attached as part of Title 17 of the City Code, is hereby amended and changed, and from and after the effective date of the Ordinance, the property illustrated in Exhibit A hereof shall be referred to and described on said zoning map of the City of Waterford as Planned Community 2024-02 (PC #2024-02).

A. Approval of Rezone to Planned Community 2024-02 authorizes a 52-lot singlefamily residential development shall expire within two years from the date of the approval by the City Council unless acted upon or the applicant or property owner obtains a time extension for the subdivision map.

Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8 SECTION 5. DEVELOPMENT STANDARDS. The following development standards are hereby associated with Planned Community 2024-02 (PC #2024-02):

Development Standard Planned Community 2024-01
Lot Dimensions
Lot Size (Minimum) 3,500 square feet
Lot Width (Minimum) Interior – 45-feet
Corner – 45-feet
Lot Coverage (Maximum) 55%
Setbacks (Minimum)
Front 15-feet
Rear 8-feet
Side
Interior – 4 feet
Corner (Interior) – 4 feet
Corner (Street Side) – 10 feet
SECTION 6. AUTHORITY. This ordinance is adopted pursuant to the authority granted by the California Constitution and State law.

SECTION 7. If any section, subsection, subdivision, sentence, clause, phrase or portion of this Ordinance, is for any reason held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this Ordinance. The City Council hereby declares that it would have adopted this Ordinance and each section, subsection, subdivision, sentence, clause, phrase, or portion thereof, irrespective of the fact that any one or more sections, subsections, subdivisions, sentences, clauses, phrases, or portions thereof be declared invalid or unconstitutional.

SECTION 8. To the extent the provisions of the Waterford Municipal Code as amended by this Ordinance are substantially the same as the provisions of that Code as they read immediately prior to the adoption of this Ordinance, then those provisions shall be construed as continuations of the earlier provisions and not as new enactments.

SECTION 9. The City Clerk shall certify as to the adoption of this Ordinance and shall cause a summary thereof to be published within fifteen (15) days of adoption and shall post a certified copy of this Ordinance, including the vote for and against same, in the Office of the City Clerk, in accordance with Government Code Section 36933.

SECTION 10. ENACTMENT: Prior to the expiration of fifteen (15) days from the passage and adoption thereof, this ordinance shall be published in a newspaper of general circulation printed and published in the County of Stanislaus, State of California, together with names of the members of the City Council voting for and against the same.

Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8 PASSED AND ADOPTED at a regular meeting of the City Council of the City of Waterford this ____ day of _____, _____, by the following vote:

AYES:

NOES:

ABSTAIN:

ABSENT:

CITY OF WATERFORD
_______________________
CHARLIE GOEKIN, Mayor
ATTEST: APPROVED AS TO FORM:
__________________________ _________________________
CORBETT J. BROWNING
City Clerk City Attorney
Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8

EXHIBIT B
PLANNED COMMUNITY 2024-02 (PC #2024-02)
Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8

WATERFORD PLANNING COMMISSION
RESOLUTION NO. 2024-09

A RESOLUTION OF THE CITY OF WATERFORD

PLANNING COMMISSION RECOMMENDING TO THE

CITY COUNCIL APPROVAL OF VESTING TENTATIVE
SUBDIVISION MAP NO. 2024-03 (VTSM 2024-03);

LOCATED ON TIM BELL ROAD, WATERFORD, CA
ASSESSOR PARCEL NUMBER 080-023-004
WHEREAS, a request has been submitted by FH Land Investment, LLC (4805 Sisk Road, Modesto, CA 95357) Applicant on behalf of the Property Owner of Record (Mr. David Hendrick) as to Assessor Parcel Number 080-023-004 to subdivide 8.90± acres into fifty-two (52) residential lots located on Tim Bell Road. The project will connect to the City of Waterford sewer, water and storm drain services. The project site is designated by the City’s Vision 2025 General Plan as Low Density Residential (LDR) and is currently zoned Residential Single (RS); and
WHEREAS, said tentative subdivision map was received in the office of the Secretary of the Planning Commission on May 8, 2024, and was accepted for filing and deemed complete on September 24, 2024, in accordance with the provisions of Title 16: Subdivisions of the Waterford Municipal Code; and
WHEREAS, copies of said vesting tentative subdivision map have been sent to the Waterford Unified School District, Modesto Irrigation District, the local utility companies, and the City Departments; and
WHEREAS, the Planning Commission has considered an Initial Study, which concluded that the proposed tentative subdivision map is within the scope of the previously certified City of Waterford Vision 2025 General Plan Environmental Impact Report, and in accordance with Section 15074 of the CEQA Guidelines, a Mitigated Negative Declaration (SCH No. 2024050940) has been prepared and considered; and
WHEREAS, the Planning Commission held a duly noticed Public Hearing on October 22, 2024 and considered Rezone and VTSM 2024-03: and,
WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred.

NOW THEREFORE, BE IT RESOLVED by the Planning Commission of the City of Waterford makes the following findings and determinations:

1. The proposed vesting tentative subdivision map, together with the provisions for its design and improvements, and subject to the conditions is consistent with the Vision 2025 General Plan and the Subdivision Map Act of the State of California.

Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8

2. The discharge of waste as a result of the proposed subdivision into the existing sewer system will not result in a violation of existing requirements by the California Regional Water Quality Control Board pursuant to Division 7 (commencing with Section 13000) of the Water Code of the State of California.

3. As per Sections 15182 and 15162 of the California Environmental Quality Act ("CEQA") Guidelines, this Project is within the scope of the projects covered by the Vision 2025 General Plan EIR.

4. Based on the project’s Initial Study, a Mitigated Negative Declaration (SCH No. 2024050940) has been prepared for the project and it has been determined that the proposed project will not have a significant environmental effect and no mitigation measures are required in accordance with the California Environmental Quality Act (CEQA).

5. Constitutionality, severability. If any section, subsection, sentence, clause, phrase, word of this resolution is for any reason held by a court of competent jurisdiction to be unconstitutional or invalid for any reason, such decision shall not affect the validity of the remaining portions of the resolution. The Planning Commission of the City of Waterford hereby declares that it would have passed this resolution and each section, subsection, sentence, clause, phrase, and word thereof, irrespective of the fact that any one or more section(s), subsection(s), sentence(s), clause(s), phrase(s), or word(s) be declared invalid.

NOW, THEREFORE BE IT FURTHER RESOLVED BY THE WATERFORD
PLANNING COMMISSION that it recommends to the City Council to approve Vesting Tentative Subdivision Map No. 2024-03 (VTSM 2024-03), subject to the following conditions:

Project Authorization

1. The project shall be in conformance with all City Ordinances, rules, regulations, and policies.

The conditions listed below are particularly pertinent to this approval but shall not be construed to permit violation of other laws and polices not so listed.

2. Approval is limited to the conformance of the land use and zoning designations. Use of the property shall be limited to those permitted in the Planned Community (PC) zoning district as applicable, as it exists now or may be amended in the future.

3. The VTSM shall expire by: two (2) years upon the effective date of the VTSM, unless a building permit is issued, or a request for an extension is received by the City prior to the expiration of the VTSM and approved by the Planning Commission.

4. The applicant and/or outside party have the right to appeal, within 10 days, any decision of the Planning Commission to the City Council per the provisions contained in the Waterford Municipal Code.

Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8 Conditions of Approval
Planning Department

1. Prior to the issuance of a Final Map, the applicant shall demonstrate conformance to the following conditions to the satisfaction of the Planning Department and Public Works Department: The applicant shall respond in writing to all conditions contained in this document and its attachments. Responses shall describe how the condition has been met and shall; where applicable, direct the plan checker to the page and/or drawing detail that demonstrates compliance with the condition. A copy of these responses shall be provided with each set of the final Site Plan and improvement plans.

2. Development shall conform to the map designated by the City Planning Department as Exhibit A. Exhibit A shall consist of the submitted map amended by the applicant to reflect any changes indicated above in the Project Specific Conditions or required by the City in the approval process. The applicant shall submit any required amended maps to the Planning Department within 90 days of project approval. Failure to submit the amended map will result in a delay in processing and/or approval of the final map.

3. The development impact fees and project processing fees due in connection with this project shall be based upon the fees in effect at the time the fee is paid unless modified by a Development Agreement or other mechanism approved by the City. All developers of property within this project site shall pay the appropriate City Capital Facilities Fees and County Public Facilities Fees, Waterford Unified School District fees, and any other applicable fees in place. These fees may be adjusted annually based on the construction cost index or other method as approved by the City.

4. The Planning Department may approve minor amendments to the permit, provided that the permit is still in substantial conformance with the original approval. A request for a minor amendment shall be submitted in writing to the Planning Department.

5. Approval of this VTSM shall not be valid until such time the Waterford City Council has approved an Ordinance rezoning the Project site from RS to PC 2024-03.

6. Any plans associated with the permit shall be in substantial conformance to the approved site plan and the development shall be consistent with the applicable sections of the General Plan, Zoning Ordinance, and Specific Plan (if applicable). Violation of any provision(s) may result in Code Enforcement action, which may include revocation of permit and/or monetary penalties.

7. All signage shall be consistent with the standards and guidelines established in Chapter 17.60 of the Waterford Municipal Code. If applicable, a sign permit shall be obtained from the Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8 Planning Department prior to the construction of any project signage if said permit was not obtained with the original project approval.

8. Roadway stub located at Street A shall include bollards and/or other barriers as reviewed and approved by the City Engineer.

9. The final map shall be in substantial compliance to the approved VTSM 2024-03 and the development shall be consistent with applicable section of the General Plan and Zoning Ordinance.

10. Prior to the approval and recordation of the Project’s Final Map, the applicant shall annex the Project into Community Facilities District No. 2019-01.

11. Consistent with the development standards of Planning Community (PC) No. 2024-03, lots developed within the Project shall contain the following development standards:

Development Standard PC 2024-03
Lot Dimensions
Lot Size (Minimum) 3,500 square feet
Lot Width (Minimum) Interior – 45 feet
Corner – 45 feet
Lot Coverage (Maximum) 55%
Setbacks (Minimum)
Front 15 feet
Rear 8 feet
Side Interior – 4 feet
Corner – (Street Side) – 10 feet
Interior Corner – 4 feet

12. The developer shall enter into a subdivision improvement agreement prior to the recordation of the final map. The subdivision improvement agreement shall be reviewed and approved by the City Attorney and Waterford City Council prior to the recordation and acceptance of the Final Map.

13. The developer will defend, indemnify, and hold harmless the City, its agents, officers, employees and volunteers from and against all claims, lawsuits or causes of action (whether brought solely against the City or jointly against both City, developer, or others), damages, losses, and expenses, including attorney fees, arising in any manner out of the approval or the application approved herein, including, without limitation, all actions or proceedings to attack, set aside, void or annul the permit granted pursuant to the City’s approval of the application referenced herein, provided the City notifies the developer within a reasonable time of any such claim, action or proceeding, and cooperates in the defense of such claims, actions or proceedings.

Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8 Building Department

1. Approval of the VTSM 2024-03 is not an authorization to commence construction. Building construction, alterations, repairs, sign erection, or occupancy shall not be permitted without prior approval of the Building Department through issuance of any required permits.

2. Prior to the issuance of Building Permits, the applicant shall provide written proof that the applicable Waterford School District fees have been paid.

3. Prior to the issuance of a Building Permit, the applicant shall pay the applicable Stanislaus County Public Facilities Fee.

4. Prior to the issuance of a Building Permit, the applicant shall pay the applicable Stanislaus Consolidated Fire Protection District Capital Facilities Fee.

5. All construction shall meet the requirements of the currently adopted California Building, Fire, Mechanical, Plumbing, Electrical, and Energy Codes, as well as all Administrative, Residential and Green Building referenced standards.

6. A sprinkler system shall be required for any construction. The applicant shall mark the location of fire walls on the exterior of the building in a manner approved by the Building Department.

7. The applicant shall provide on-site restroom facilities during construction.

Public Works/Engineering

1. Improvement Plans prepared by a registered civil engineer shall be submitted to the City Engineer for review and approval. All required structures such as walls, fences, drainage facilities, water mains, sewer lines and streetlights shall be shown on the plans along with curb, gutter, sidewalk, edge of pavement and utilities. All existing structures not shown on the tentative map or shown as “to be removed” shall be removed prior to the recording of the final map.

2. A grading and drainage plan shall be submitted to, and approved by, the City Engineer prior to the start of work at the site. No grade severance to adjacent properties shall be created.

All structures such as walls, fences, drainage facilities, water mains and streetlights shall be shown on the plan.

3. Encroachment permits shall be required for all work within the current and proposed public right-of-way. Any work done in the current and proposed public right-of-way shall be approved by the City Engineer prior to the start of construction. Bonding for those improvements will be required as specified by Public Works/City Engineer.

Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8

4. Lighting: The lighting system shall be designed to best serve the area and to minimize the length of service runs from the points of connection to the streetlights. All lighting shall be installed according to current City Standards.

5. Cable Television: Cable television facilities including pedestals and junction boxes shall be underground in street right-of-ways or easements with service provided to each lot.

6. Prior to the start of underground work/digging the developer shall contact USA (Underground Service Alert) at 1-800-642-2444.

7. Appropriate dust control shall be provided at the contractor’s expense to minimize any dust nuisance and shall be in accordance with Section 10 of Caltrans standard specifications.

8. The developer shall be responsible for all work performed by contractors or subcontractors.

9. The contractor shall provide all lights, signs, barricades, flagmen or other devices necessary for public safety in accordance with the current issue of “Manual of Traffic Controls, Warning Signs, Lights and Devices for Use in Performance of Work Upon Highways,” published by the State of California Business and Transportation Agency.

10. Materials testing required by the City Engineer for work shall be provided by the Developer and submitted to the City Engineer for approval. All costs associated with material testing shall be at the Developer’s expense.

11. Prior to final acceptance of the improvements, the developer shall provide a set of “as-built” drawings to the City Engineer. These drawings shall be in black ink on Mylar, meeting the requirements of Sections 66434 of the Subdivision Map Act.

12. Developer shall remove all septic tanks and abandon existing water wells to the satisfaction of the City Engineer.

Streets:

13. Public streets shall be built to City of Waterford Standards in accordance with Waterford Municipal Codes Title 16 and Title 17 and the Waterford General Plan.

14. Through review of the project’s Improvement Plans, the City Engineer and developer shall establish and agree upon the project’s area of impact, specifically related to the project’s construction impacts to Tim Bell Road via the connection and installation of underground improvements. Construction impacts to these roadways shall be mitigated by the developer via overlay improvements on said roadways. The scope of these impacts and overlay improvements shall be defined in the project’s Improvement Plans and Subdivision Improvement Agreement.

15. A ten (10) foot wide Public Utility Easement shall be provided on all street frontages within the development.

Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8

16. Curbs, gutters and sidewalks shall be constructed and/or repaired in accordance with the City Standards and the requirements of Title 16 of the Waterford Municipal Code.

17. Street survey monuments and covers shall be placed on the centerline of each street at all intersections, beginnings and ends of curves, changes of direction, and other locations as directed by the City Engineer.

18. Curb ramps shall be constructed at all intersections and shall comply with Section 2-7103 in the current edition of the State Building Code and the Americans with Disabilities Act (ADA).

19. The developer shall be responsible for obtaining soil R-value tests, specifically supervised by the City Engineer, in sufficient quantity to establish the quality of the soil and a basis for the preliminary structural section.

Water:

20. Individual water services shall be provided to each parcel from the public water main in all public streets.

21. Provide a looped water system, a minimum of two connections to the City water system are required throughout all phases.

22. Provide locations of all water valves and fire hydrants within the development. All water valves and fire hydrants shall have a maximum spacing in accordance with the current City Design Standards.

Sanitary Sewer:

23. A sewer service shall be installed by the developer to each lot and shall be sized to carry the quantity of sewage which will be discharged from the service area with a minimum design flow of 300 gallons/day plus infiltration. For the purpose of sewer capacity calculations, a peaking factor of 2.5 shall be used. All sewer laterals shall have a minimum cover of 3 feet, 6 inches from the top of the pipe to finished grade at center line. Sewers within 100 feet of domestic wells shall be cast iron or ductile iron. All sewer mains shall extend to the center of property frontage. Sewer mains shall be designed according to current City Standards.

24. Single family residential properties shall be served by 4-inch sewer service laterals. Other uses such as commercial and multi-family residential uses shall install laterals according to City Standard and to the satisfaction of the City Engineer.

Storm Drainage:

25. Project design and construction shall be in compliance with the State Water Resources Control Board’s Phase II MS4 permit.

Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8

26. All storm drainage improvements shall be designed in accordance with the design criteria set forth in Chapter 4 of the Stanislaus County Standards and Specifications.

27. All storm drainage improvements shall be tied into existing storm drain lines. The engineer shall provide calculations to verify downstream capacity. In the event that downstream improvements are required, the developer shall construct all necessary improvements or contribute this project’s fair share of improvements.

Modesto Irrigation District:

1. The Developer and/or Project Proponent shall install a six (6) foot tall CMU wall along the Project site’s southern border, adjacent to the Lower Main Canal.

San Joaquin Valley Air Pollution Control District:

1. The Developer and/or Project Proponent shall comply with the San Joaquin Valley Air Pollution Control District letter, dated June 4, 2024. A copy of said letter can be obtained from the City’s Planning Department.

CEQA Mitigation Measures:

1. The Developer and/or Project Proponent shall comply with the Mitigation Monitoring/Reporting Program (MMRP), dated July 2024, prepared for the Waterstone Residential Subdivisions Mitigated Negative Declaration. A copy of the MMRP is on file with the Waterford Planning Department.

The foregoing Resolution was passed and adopted by the Planning Commission of the City of Waterford, Stanislaus County, at a special meeting held on October 22, 2024, moved for adoption by Commissioner Esther and duly seconded by Commissioner Barnes; passed by the following roll call vote:
**Condition of Approval: Steel posts to be set at fence on lot 37.** AYES: Rivers, Barnes, Esther, Gray
NOES: None
ABSENT: Meshew
ABSTAIN: None
ATTEST:
______________________________
Chairperson Brandon Rivers
_____________________________
Marissa Martinez, Secretary
Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8 Exhibit A – VTSM 2024-03
Docusign Envelope ID: FCF21E32-64BE-4E74-9886-4881AD3A86A8 General Business 6a
November 21, 2024
Tina Envia, Finance Manager
City Council Staff Report
Motion: Accept and File the June 30, 2024 Basic Financial Statement for the City of Waterford and the Auditor’s Report on the Financial Statements including the reports on the Abandoned Vehicle Abatement Program, Appropriations Limit Schedule, Single Audit, and the Auditor’s Communication With Those Charged With Governance.

SUMMARY:

Accept and file the City of Waterford Basic Financial Statement for the year ended June 30, 2024 including all the related supplementary reports as listed above.

ANALYSIS:

It is recommended that the City accept the financial statements and the Auditor’s Reports on the financial reports.

On November 15, 2024 Badawi & Associates, the City’s Auditor’s, issued their reports on the financial statements of the City of Waterford. The Auditor’s opinion was that the statements were presented fairly in all material respects.

FISCAL IMPACT:
• The General Fund balance as of June 30, 2024 was $3,981,397. The amount representing Advances to other funds of $368,489 is designated “Non-spendable,” thus the balance of $3,612,908 is designated “Unassigned.” • The City Impact Fee Fund had a “Restricted” balance of $1,361,452 at June 30, 2024. This fund accounts for the Developer Impact Fees collected by the City through the building permit process. The fees are required to be used according to the Capital Facility Fees Nexus Study. The fees are tracked individually depending on the required use.
• The CIP Streets and Roads Capital Projects Fund had a balance of ($91,566) at June 30, 2024. This fund accounts for the capital streets projects funded by various grants and its fund balance is restricted for those specific uses. At yearend the fund had grant expenditures that had not yet been reimbursed by the granting agency.
• All other Non-major Governmental Funds had a balance of $1,500,749 at June 30, 2024. Activities represented in this fund group include; Gas Tax, Local Transportation, Community Development, Lighting and Landscaping Districts, Abandoned Vehicle Abatement, Special Business Pilot Program, and CFD 2019-1 Maintenance District. • The Proprietary Funds include Wastewater Treatment, Water System, and the Public Financing Authority (PFA).

The funds ended the year with Unrestricted Net Position as follows; Wastewater $389,006, Water $622,049, and PFA of $165,371.

ALTERNATIVES:

1. Accept and file the June 30, 2024 Audited Basic Financial Statements for the City of Waterford and all related items as listed in the motion.

2. Provide staff with directions as to the modifications desired and request a subsequent modified report.

3. Not accept the audited basic financial statements as presented and give no further direction for changes. This alternative would limit the Auditor’s ability to issue further reports without modifications to their opinion of the statement’s accuracy.

ATTACHMENTS:
• City of Waterford Basic Financial Statements for the Fiscal Year Ended June 30, 2024 • City of Waterford Abandoned Vehicle Abetment Report for Fiscal Year Ended June 30, 2024 • City of Waterford Appropriations Limit Schedule for Fiscal Year Ended June 30, 2024 • City of Waterford Single Audit Report for Fiscal Year Ended June 30, 2024 • Auditor’s Communication With Those Charged With Governance • Presentation Slides

CITY OF WATERFORD, CALIFORNIA

BASIC FINANCIAL STATEMENTS

FOR THE FISCAL YEAR ENDED
June 30, 2024
Prepared by:

Tina Envia
Finance Manager

City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Table of Contents
Page

FINANCIAL SECTION
Independent Auditors’ Report ...............................................................................................................................1 Management’s Discussion and Analysis (Required Supplementary Information).....................................5 Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position..............................................................................................................................21 Statement of Activities...................................................................................................................................22 Fund Financial Statements:

Governmental Funds:

Balance Sheet ...............................................................................................................................................28 Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Position .......................................................................................................................30 Statement of Revenues, Expenditures, and Changes
in Fund Balances – Governmental Funds.............................................................................................32 Reconciliation of Fund Basis Balance Sheet to Government-wide Statement of Net position – Governmental Activities........................................................................34 Proprietary Funds:

Statement of Net Position – Proprietary Funds ......................................................................................36 Statement of Revenues, Expenses, and Changes in Fund Net position – Proprietary Funds....................................................................................................................................37 Statement of Cash Flows – Proprietary Funds........................................................................................38 Fiduciary Funds:

Statement of Fiduciary Net Position ........................................................................................................40 Statement of Changes in Fiduciary Net Position....................................................................................41 Notes to Basic Financial Statements...................................................................................................................44 Required Supplementary Information:

Budgets and Budgetary Accounting
Budgeting Procedures.......................................................................................................................................78 Budgetary Comparison Schedules
General Fund ..................................................................................................................................................79 Impact Fee Special Revenue Fund...............................................................................................................80 Defined Benefit Pension Plan
Schedule of the City’s Proportionate Share of the Net Pension Liability..................................................81 Schedule of Contributions................................................................................................................................82 i
City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Table of Contents
Page
FINANCIAL SECTION, Continued
Other Supplemental Information:

Budgeted Major Governmental Funds Other Than General Fund and Special Revenue Funds:

Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual - CIP Streets and Roads Capital Projects Fund ...........................................................86 Combining and Individual Fund Financial Statements and Schedules:

Nonmajor Governmental Funds:

Combining Balance Sheet.................................................................................................................................88 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ...............................89 Nonmajor Special Revenue Funds:

Combining Balance Sheet.................................................................................................................................92 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ...............................94 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Gas Tax Special Revenue Fund ..................................................................................96 Budget to Actual – Local Transportation Special Revenue Fund............................................................97 Budget to Actual - Community Development Special Revenue Fund...................................................98 Budget to Actual – Lighting District Special Revenue Fund....................................................................99 Budget to Actual – Abandoned Vehicle Abatement Special Revenue Fund .......................................100 Budget to Actual – Lighting and Landscaping Special Revenue Fund................................................101 Budget to Actual – Special Business Pilot Program Special Revenue Fund ........................................102 Budget to Actual – CFD 2019-1 Maintenance Service Special Revenue Fund ....................................103 Nonmajor Capital Projects Funds:

Combining Balance Sheet...............................................................................................................................106 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances...........................................................................................................................................107 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – CIP Streets Measure L Capital Projects Fund.........................................................108 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – CIP Parks Capital Projects Fund ..............................................................................109 ii
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of the City Council
of the City of Waterford
Waterford, California
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Waterford (City), as of and for the year ended June 30, 2024, 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 accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2024, 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 (Government Auditing Standards). 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 The City’s 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. 1 To the Honorable Mayor and Members
of the City Council of the City of Waterford
City, California

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 and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS and Government Auditing Standards, 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, pension information, and budgetary comparison information on pages 5-16 and 78-82 be presented to supplement the basic financial statements. Such information is the responsibility of management and, 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 2 To the Honorable Mayor and Members
of the City Council of the City of Waterford
City, California

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 nonmajor fund financial statements on pages 86-109 are presented for purposes of additional analysis and are not a required part of the basic financial statements.

The combining and individual nonmajor fund financial statements on pages 86-109 are the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements on pages 86- 109 are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated November 15, 2024 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 solely 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 the effectiveness of the City’s 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.

Badawi and Associates
Berkeley, California
November 15, 2024
3 This page intentionally left blank.
4 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
This section provides a narrative overview and analysis of the financial activities of the City of Waterford (City) for the fiscal year ended June 30, 2024. It should be read in conjunction with the accompanying transmittal letter and basic financial statements.

FINANCIAL HIGHLIGHTS
 The City's total net position increased by $5,951,121 over the course of this year’s operations after conducting all City operations and programs. The assets and deferred outflows of resources of the City exceeded its liabilities and deferred inflows of resources by $40,603,972 at the end of the 2024 fiscal year. Of that amount, $4,434,974 (the unrestricted net position) may be used to meet the City's ongoing obligations and operating expenses for the next fiscal year.  Overall City-wide program revenues from all governmental and business-type activities increased by $3,725,936 compared to the 2023 fiscal year. The City's total expense for all programs increased by $357,761 compared to the 2023 fiscal year.
 The general fund reported a fund balance of $3,981,397, a decrease of $227,985 from June 30, 2023.

The unrestricted portion of the General Fund’s fund balances is $3,612,908. The General Fund’s cash and investments, including restricted amounts, at June 30, 2024 was $3,664,397.  The City also ended the fiscal year with $14,169,293 in the proprietary enterprise funds net position.

OVERVIEW OF THE ANNUAL FINANCIAL REPORT
This Annual Financial Report includes the Management’s Discussion and Analysis (this part), the Basic Financial Statements, which include the Government-wide and the Fund Financial Statements along with the notes to these financial statements, the Required Supplementary Information and the Combining and Individual Fund Financial Statements and Schedules.

The Basic Financial Statements
The Basic Financial Statements are comprised of the Government-wide Financial Statements and the Fund Financial Statements; these two sets of financial statements provide two different views of the City’s financial activities and financial position.
5 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
OVERVIEW OF THE ANNUAL FINANCIAL REPORT, Continued
Government-wide Financial Statements
The Government-wide Financial Statements provide a broad overview of the City’s activities as a whole and comprise the Statement of Net Position and the Statement of Activities. The 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 the 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 the full accrual basis, with the emphasis on measuring net revenues or expenses of each the City’s programs. The Statement of Activities explains in detail the change in Net Position for the year.

All of the City’s activities are grouped into Governmental Activities and Business-type activities, as explained below. All the amounts in the Statement of Net position and the Statement of Activities are separated into Governmental Activities and Business-type Activities in order to provide a summary of these two activities of the City as a whole.
♦ Governmental activities – All of the City’s basic services are considered to be governmental activities, including general government, public ways and facilities, police services, parks and recreation, community development, planning and zoning, and general administrative services.

These services are supported by general City revenues such as taxes and by specific program revenues such as developer fees.
♦ Business-type activities – All the City’s enterprise activities are reported here, including Wastewater Treatment, Water System, and the Public Financing Authority. Unlike governmental services, these services are supported by charges paid by users based on the amount of the service they use.

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. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into two categories: governmental funds and proprietary funds.

Governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the Government-wide Financial Statements. However, 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 a government’s near-term financing requirements.
6 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
OVERVIEW OF THE ANNUAL FINANCIAL REPORT, Continued
Because the focus of the Governmental Fund Financial Statements is narrower than that of the Government-wide Financial Statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the Governmentwide Financial Statement. By doing so, readers may better understand the long-term impact of the government’s near-term financial decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The Governmental 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 No. 34 and replaces the concept of combining like funds and presenting them as one total. Instead, each major fund is presented individually, with all nonmajor funds summarized and presented only in a single column. Subordinate schedules present the detail of these nonmajor funds. Major funds present the major activities of the City for the year, and may change from year to year as a result of changes in the pattern of the City’s activities.

For the fiscal year ended June 30, 2024, the City’s major funds are as follows:

GOVERNMENTAL FUNDS:
 General Fund
 Impact Fee Special Revenue Fund
 CIP Streets and Roads Capital Projects Fund
PROPRIETARY FUNDS:
 Wastewater Treatment Enterprise Fund
 Water System Enterprise Fund
 Public Financing Authority Fund
For the fiscal year ended June 30, 2024, the City adopted annual appropriated budgets for all governmental funds.

Proprietary funds. The City maintains Enterprise-type proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the Government-wide Financial Statements. The City uses enterprise funds to account for Water and Wastewater activities. Proprietary funds provide the same type of information as the Government-wide Financial Statements, only in more detail. The proprietary fund financial statements provide separate information for all of these operations.
7 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
OVERVIEW OF THE ANNUAL FINANCIAL REPORT, Continued
Notes to the Basic Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the Government-wide and Fund Financial Statements. The notes to the basic financial statements can be found in the details of this report.

Other Information
In addition to the basic financial statements and accompanying notes, this report also presents required supplementary information concerning the City’s pension contributions and proportionate share of the net pension liability. Required supplementary information can be found in the details of this report.

The combining statements referred to earlier in connection with nonmajor governmental funds are presented immediately following the notes to the financial statements.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, net position may serve over time as a useful indicator of a government’s financial position. In the case of the City, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $40,603,972 as of June 30, 2024. The Summary of Net position as of June 30, 2024, and 2023, follows:

Govern- Business- Govern- Businessmental type mental type Activities Activities Total Activities Activities Total Current and other assets $ 7,398,021 $ 4,244,801 $ 11,642,822 $ 10,291,304 $ 3,206,948 $ 13,498,252 Noncurrent assets 22,258,433 15,181,904 37,440,337 18,317,116 12,049,564 30,366,680 Deferred outflows 609,712 511,389 1,121,101 675,746 586,352 1,262,098 Total assets and deferred
outflows 30,266,166 19,938,094 50,204,260 29,284,166 15,842,864 45,127,030 Current and other liabilities 769,454 2,276,210 3,045,664 2,621,292 777,944 3,399,236 Long-term liabilities 2,968,336 3,435,165 6,403,501 2,940,332 3,823,266 6,763,598 Deferred inflows 93,697 57,426 151,123 127,499 78,144 205,643 Total liabilities and deferred
inflows 3,831,487 5,768,801 9,600,288 5,689,123 4,679,354 10,368,477 Net position:

Net Investment in capital
assets 20,602,854 12,290,904 32,893,758 16,584,004 9,009,490 25,593,494 Restricted 2,862,201 413,039 3,275,240 3,658,854 446,217 4,105,071 Unrestricted 2,969,624 1,465,350 4,434,974 3,352,185 1,707,803 5,059,988 Total net postion $ 26,434,679 $ 14,169,293 $ 40,603,972 $ 23,595,043 $ 11,163,510 $ 34,758,553 2024 2023
Summary of Net Position
8 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Overall, total net position increased by $5,951,121 of this amount, net position for governmental activities increased by $2,958,734 and net position for business-type activities increased by $2,992,387.

Revenues
The City’s total revenues for governmental and business-type activities were $14,404,625 for the fiscal year ended June 30, 2024. Significant revenues for the City for fiscal year 2024 were derived from charges from services (30%), operating grants and contributions (29%), and taxes and general revenues (25%).

The following discusses variances in key revenues from the prior fiscal year:

1. Charges for Services. Charges for services increased $146,448 or 4% due to several new developments that are in the planning stages.

2. Operating Grants and Contributions. Annual revenues increased $1,295,471. This represents a 45% increase over the prior fiscal year. The increase was primarily due to the allocation of the American Rescue Plan Funds to the Tim Bell Water and Sewer Line Extension Project.

3. Capital Grants and Contributions. Annual revenues increased $2,284,017. This represents a 18,900% increase over the prior fiscal year. The increase was primarily due to contributed capital assets.

4. Property Tax. Property taxes increased $59,650 or 13% the increase is reasonable as over 75 new homes were added to the tax roll over the last year.

5. Sales Tax. Annual revenues decreased $44,507. This represents a 5% decrease over the prior fiscal year. Sales Taxes continue to trend downward after increases during the pandemic.

The trend is on track with forecasts.

6. Utility Users Tax. Annual revenues increased $57,278. This represents a 10% increase over the prior fiscal year.

The chart on the following page outlines the year over year change in revenues, expenses, and changes in net position.
9 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
The change in net position for the fiscal years ended June 30, 2024 and 2023, follows:

Govern- Business- Govern- BusinessGovernmental Business-type Governmental Business-type Activities Activities Total Activities Activities Total Revenues:

Program revenues:

Charges for services $ 152,544 $ 4,144,447 $ 4,296,991 $ 68,443 $ 4,082,100 $ 4,150,543 Grants and contributions:

Operating 4,188,546 - 4,188,546 2,893,075 - 2,893,075
Capital 1,569,424 726,670 2,296,094 12,077 - 12,077
General revenues:

Property taxes
and assessments 532,907 - 532,907 506,289 - 506,289
Sales taxes 755,591 - 755,591 800,098 - 800,098
Franchise taxes 179,577 - 179,577 178,054 - 178,054
Utility users tax 656,667 - 656,667 700,497 - 700,497
Other taxes 1,082,820 - 1,082,820 983,705 - 983,705
Use of money and property 230,060 83,974 314,034 11,975 29,422 41,397 Other general 101,398 - 101,398 77,904 - 77,904
Total revenues 9,449,534 4,955,091 14,404,625 6,232,117 4,111,522 10,343,639 Expenses:

Governmental activities:

General government 391,763 - 391,763 445,052 - 445,052
Public ways and facilities 1,328,254 - 1,328,254 1,295,508 - 1,295,508 Police services 2,239,519 - 2,239,519 2,164,003 - 2,164,003 Parks and recreation 504,376 - 504,376 382,281 - 382,281 Community development 356,365 - 356,365 275,726 - 275,726 Interest and fiscal charges 62,785 - 62,785 62,929 - 62,929 Business-type activities:

Wastewater Treatment - 1,330,101 1,330,101 - 1,335,741 1,335,741 Water System - 2,132,767 2,132,767 - 2,023,947 2,023,947 Public Financing Authority - 107,574 107,574 - 110,556 110,556 Total expenses 4,883,062 3,570,442 8,453,504 4,625,499 3,470,244 8,095,743 Excess (Deficiency) of revenues over
expenditures before transfers 4,566,472 1,384,649 5,951,121 1,606,618 641,278 2,247,896 Transfers (1,607,738) 1,607,738 - (94,220) 94,220 -
Change in net position 2,958,734 2,992,387 5,951,121 1,512,398 735,498 2,247,896 Net Positions:

Beginning of year, as restated 23,475,945 11,176,906 34,652,851 22,082,645 10,428,012 32,510,657 End of year $ 26,434,679 $ 14,169,293 $ 40,603,972 $ 23,595,043 $ 11,163,510 $ 34,758,553 2024 2023
Changes in Net Position
10 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Expenses
Governmental and business-type activity expenses of the City for the year totaled $8,453,504.

Governmental activity expenses totaled $4,883,062 or 58% of total expenses. Business-type activities incurred $3,570,442 of expenses during the fiscal year or 42% of total expenses.

Governmental Activities
The following table shows the cost of each of the City’s major programs and the net cost of the programs. Net cost is the total cost less fees and other direct revenue generated by the activities. The net cost reflects the financial burden that was placed on the City’s taxpayers by each of the programs.

The total cost of services and the net cost of services for the fiscal years ended June 30, 2024 and 2023, are as follows:

Total Cost Net Cost Total Cost Net Cost
of Services of Services of Services of Services
General government $ 391,763 $ 391,763 $ 445,052 $ 250,129 Public ways and facility 1,328,254 (3,526,379) 1,295,508 (508,941) Police services 2,239,519 1,943,881 2,164,003 1,921,419 Parks and recreation 504,376 463,073 382,281 235,095
Community development 356,365 (362,575) 275,726 (308,727) Interest and fiscal charges 62,785 62,785 62,929 62,929 Total $ 4,883,062 $ (1,027,452) $ 4,625,499 $ 1,651,904 2024 2023
11 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Revenues by source for the fiscal years ended June 30, 2024 and 2023, are as follows:

Charges for services
$152,544 2%
Operating grants
$4,188,546 44%
Capital grants
$1,569,424 17%
Property taxes
$532,907 6%
Sales taxes $755,591
8%
Franchise taxes
$179,577 2%
Utility users tax
$656,667 7%
Other taxes
$1,082,820 11%
Use of money and
property $230,060 2%
Other general
$101,398 1%
Revenues by Source - Governmental Activities
2024
Charges for services
$68,443 1%
Operating grants
$2,893,075 47%
Capital grants $12,077
Property taxes 0%
$506,289 8%
Sales taxes $800,098
13%
Franchise taxes
$178,054 3%
Utility users tax
$700,497 11%
Other taxes $983,705
16%
Use of money and
property $11,975 0%
Other general $77,904
1%
Revenues by Source - Governmental Activities
2023
12 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Business-type activities. Business-type activities increased the City’s net position by $2,992,387. The City has three business-type activities: Wastewater Treatment, Water System, and Public Financing Authority. The operating revenues and expenses for the business -type activities for the fiscal years ended June 30, 2024, and 2023, are as follows:
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
Wastewater
Treatment
Water System Public
Financing
Authority
Operating revenues
Operating expenses
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
Wastewater
Treatment
Water System Public
Financing
Authority
Operating revenues
Operating expenses
Operating Revenues and Expenses
Business-type Activities
2023
Operating Revenues and Expenses
Business-type Activities
2024
13 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Financial Analysis of the Government’s Funds
The City of Waterford uses fund accounting to ensure and demonstrate compliance with financerelated legal requirements. The fund financial statements focus on individual parts of the City government, reporting the City’s operations in more detail than the government-wide financial statements.

Governmental funds. The City’s governmental funds provide information on near-term inflows, outflows, and balances of spending resources. At the fiscal year ended June 30, 2024, the City’s governmental funds reported combined fund balances of $6,752,032. This is a decrease of $1,079,501.

The General Fund is the chief operating fund of the City. At the fiscal year ended June 30, 2024, General Fund unassigned fund balance totaled $3,612,908. This is a decrease of $247,360 from the prior year.

Proprietary funds. The City’s proprietary funds net position increased by $2,992,387 during the fiscal year ended June 30, 2024.

Capital Assets
The City’s investment in capital assets for its governmental and business-type activities as of June 30, 2024, amount to $29,522,909. This investment in capital assets includes land, construction in progress costs for road and median improvements, buildings and structures, equipment, vehicles, and infrastructure.
2024 2023 2024 2023 2024 2023
Land $ 5,399,530 $ 5,399,530 $ 427,672 $ 427,672 $ 5,827,202 $ 5,827,202 Construction in progress 1,158,186 1,467,929 2,639,057 73,052 3,797,243 1,540,981 Buildings and structures 5,120,335 5,120,335 962,118 962,118 6,082,453 6,082,453 Equipment 3,364,711 3,008,797 4,392,010 4,392,010 7,756,721 7,400,807 Vehicles 798,635 798,635 501,955 501,955 1,300,590 1,300,590 Infrastructure 19,087,954 14,113,708 13,009,752 11,909,093 32,097,706 26,022,801 Less Accum. Deprec. (12,670,918) (11,591,818) (6,750,660) (6,216,336) (19,421,578) (17,808,154) Total $ 22,258,433 $ 18,317,116 $ 15,181,904 $ 12,049,564 $ 37,440,337 $ 30,366,680 Governmental Activities Business-type Activities Totals More detail of the capital assets and current activity can be found in the notes to the financial statements.
14 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Long Term Debt
The City’s total long-term debt as of June 30, 2024 and 2023 was $4,684,273 ($1,655,579 for Governmental Activities and $3,028,694 for Business-type Activities) and $5,215,209 ($1,733,112 for Governmental Activities and $3,482,097 for Business-type Activities) respectively. More detail of long-term debt and current activity can be found in Note 7. to the financial statements.

Economic Outlook
The City of Waterford is located in California’s Central Valley, approximately 13 miles east of Modesto.

It is the eight largest city in Stanislaus County. The City currently occupies a land area of approximately 1,100 acres and serves a population of approximately 9,300 persons. The City was chartered in 1969 as a municipal corporation and operates under a Council - Manager form of government. Policy-making and legislative authority are vested in a five-member governing council consisting of the Mayor and four Council Members. The City Council is responsible, among other things, for passing ordinances, adopting the budget, approving nominees to commissions and hiring the City Manager, City Attorney, and the Police Chief. The Council is elected on a non-partisan basis. Council Members serve four-year staggered terms, with two Council Members elected every two years. The Mayor is elected and serves a two-year term. The City Manager is responsible for carrying out the policies and ordinances of the City Council, for overseeing the day-to-day operations of the City and for hiring and appointing the heads of the various departments.

Governmental revenues of the City consist of locally established revenue sources including charges for services, franchise fees and utility users taxes, property taxes which have some constitutional protection to prevent “borrowing” by the State, and revenue sources from the State of California and federal government including capital grants, motor vehicle license fees and motor vehicle fuel and sales taxes, which can be affected by the State of the California and national economies and the State budget.

The outlook for fiscal year 2025 is that both the national and state economies will remain in a period of economic uncertainty. The economy is experiencing record high inflation which is creating a high cost of living and financial strain for families and communities. Sales Tax numbers continue to decrease with County and State decreases of .2% and 1.30% respectively for the second quarter of 2024. The 2025 budget reflects these downward indicators. The General Outlook for the General Fund is to complete some major capital work at the Community Center and then enter a period of limited growth as we adjust to the changes in the economy. Several large developments are in the early stages of development and as these progress, we will see significant impact to the City. 15 City of Waterford, California
Basic Financial Statements
For the year ended June 30, 2024
Management’s Discussion and Analysis
The City’s Wastewater and Water Enterprise systems are both experiencing large capital demands as the systems are adjusting to growth and expansion of services. Staff is currently working on securing a grant for the consolidation of the Waterford and Hickman systems bringing completion to the integration of the systems. Without the grants the City will have to pursue other methods of financing and paying for the cost of the consolidation. The Wastewater System is currently in need of many system upgrades and enhancements to keep the system operating within standards. A rate study was performed and new rates adopted in July of 2024 allowing for some planned capital items in the Wastewater Fund. In addition, the City was awarded a $953,925 FEMA Grant to address weather related issues with the access road to the Wastewater Treatment Plant. The project is expected to be completed by December of 2025.

The fiscal 2025 budget reflects over $10 million in anticipated capital projects. Several of these items including the Water System Consolidation ($3.5 million – grant pending) and the Wastewater Treatment Plant Road Rehabilitation ($1.1 million). The budgeted projects are categized in the following areas:
 Streets $3,101,875
 Wastewater Projects $2,625,000
 Water $5,269,000
In addition, the work on the Community Center will continue on in fiscal 2025 as the project was not completed at June 30, 2024.

City staff are anticipating future budget years to be more conservative in nature as we start to see the impact of inflation on such things as health care, retirement, and the general cost of living. The abundance of Covid related grant funds and other outside funding sources are tapering off and we expect to enter a phase of economic decline.

Requests for Information
This Annual Financial Report is intended to provide citizens, taxpayers, investors, and creditors with a general overview of the City’s finances. If you have any questions about this report, need additional financial information, or would like to obtain component unit financial statements, contact the City of Waterford Finance Department, 101 E Street, Waterford, CA 95386, or visit the City’s web page at www.cityofwaterford.org.
16 BASIC

FINANCIAL STATEMENTS
17 This page intentionally left blank
18 GOVERNMENT-WIDE

FINANCIAL STATEMENTS
19 This page intentionally left blank
20 City of Waterford
Statement of Net Position
June 30, 2024
Governmental Business-Type
Activities Activities Total
ASSETS
Cash and investments $ 5,696,367 $ 3,752,982 $ 9,449,349 Restricted cash and investments - 413,039 413,039
Receivables:

Accounts 511,438 267,552 778,990
Loans/Notes receivable 821,727 - 821,727
Loans receivable from fiduciary activities - 155,000 155,000 Due from Successor Agency - 24,717 24,717
Internal balances 368,489 (368,489) -
Capital assets:

Nondepreciable 6,557,716 3,066,729 9,624,445
Depreciable 15,700,717 12,115,175 27,815,892
Total assets 29,656,454 19,426,705 49,083,159

DEFERRED OUTFLOWS OF RESOURCES
Deferred loss on refunding - 137,694 137,694
Deferred outflows related to pension 609,712 373,695 983,407 Total deferred outflows of resources 609,712 511,389 1,121,101

LIABILITIES
Accounts payable and accrued liabilities 580,042 773,070 1,353,112 Interest payable 30,081 24,578 54,659
Deposits payable - 172,106 172,106
Unearned revenue 12,627 816,140 828,767
Current portion of long-term debt 81,215 469,588 550,803 Compensated absences - current portion 12,169 20,728 32,897 Long-term liabilities:

Compensated absences 18,254 32,877 51,131
Long-term debt, due after one year 1,574,364 2,559,106 4,133,470 Net pension liability 1,375,718 843,182 2,218,900
Total liabilities 3,737,790 5,711,375 9,449,165

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pension 93,697 57,426 151,123 Total deferred inflows of resources 93,697 57,426 151,123

NET POSITION
Net investment in capital assets 20,602,854 12,290,904 32,893,758 Restricted 2,862,201 413,039 3,275,240
Unrestricted (deficit) 2,969,624 1,465,350 4,434,974
$ 26,434,679 $ 14,169,293 $ 40,603,972
Primary Government
Total net position
See accompanying Notes to Basic Financial Statements.
21 Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Total Primary Government:

Governmental activities:

General government $ 391,763 $ - $ - $ - $ -
Public ways and facilities 1,328,254 3,894 3,281,315 1,569,424 4,854,633 Police services 2,239,519 23,151 272,487 - 295,638
Parks and recreation 504,376 4,600 36,703 - 41,303
Community development 356,365 120,899 598,041 - 718,940 Interest and fiscal charges 62,785 - - - -
Total governmental activities 4,883,062 152,544 4,188,546 1,569,424 5,910,514 Business-type activities:

Wastewater 1,330,101 1,666,167 - 487,720 2,153,887
Water 2,132,767 2,412,480 - 238,950 2,651,430
Public Financing Authority 107,574 65,800 - - 65,800
Total business-type activities 3,570,442 4,144,447 - 726,670 4,871,117 Total primary government $ 8,453,504 $ 4,296,991 $ 4,188,546 $ 2,296,094 $ 10,781,631 General Revenues:

Taxes:

Property taxes, levied for general purposes
Sales taxes
Franchise taxes
Utility users taxes
Other taxes
Use of money and property
Other general revenues
Total general revenues
Transfers
Total general revenues and transfers
Change in net position
Net position - beginning of year, as previously stated
Restatements
Net position - beginning of year, as restated
Net position - end of year
City of Waterford
Statement of Activities
For the year ended June 30, 2024
Program Revenues
See accompanying Notes to Basic Financial Statements.
22 Governmental Business-Type
Activities Activities Total
$ (391,763) $ - $ (391,763)
3,526,379 - 3,526,379
(1,943,881) - (1,943,881)
(463,073) - (463,073)
362,575 - 362,575
(62,785) - (62,785)
1,027,452 - 1,027,452
- 823,786 823,786
- 518,663 518,663
- (41,774) (41,774)
- 1,300,675 1,300,675
1,027,452 1,300,675 2,328,127
532,907 - 532,907
755,591 - 755,591
179,577 - 179,577
656,667 - 656,667
1,082,820 - 1,082,820
230,060 83,974 314,034
101,398 - 101,398
3,539,020 83,974 3,622,994
(1,607,738) 1,607,738 -
1,931,282 1,691,712 3,622,994
2,958,734 2,992,387 5,951,121
23,595,043 11,163,510 34,758,553
(119,098) 13,396 (105,702)
23,475,945 11,176,906 34,652,851
$ 26,434,679 $ 14,169,293 $ 40,603,972
$ 14,169,293
and Changes in Net Position
Net (Expense) Revenue
Primary Government
23 This page intentionally left blank
24 FUND

FINANCIAL STATEMENTS
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Funds Financial Statements
25 This page intentionally left blank
26 GOVERNMENTAL FUND FINANCIAL STATEMENTS
General Fund Primary operating fund of the City, accounts for all activities except those legally or administratively required to be accounted for in other funds.

Impact Fee Fund accounts for capital facility fees collected through building and development activity.

Their use is specified in the City's Capital Facility Fee Nexus Study.

CIP Streets and Roads Fund This fund is used to account for all streets and roads construction projects. 27 City of Waterford
Balance Sheet
Governmental Funds
June 30, 2024
CIP Streets
General Impact Fee and Roads
Fund Special Revenue Capital Projects
ASSETS
Cash and investments $ 3,664,397 $ 1,414,772 $ -
Receivables:

Account receivables 11,209 - -
Intergovernmental 315,365 - -
Loans/Notes receivable - - -
Other receivable 23,935 - -
Due from other funds 139,117 - -
Advances to other funds 368,489 - -
Total assets $ 4,522,512 $ 1,414,772 $ -

LIABILITIES

AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities $ 528,488 $ - $ 15,030 Due to other funds - - 76,536
Unearned revenue 12,627 - -
Due to other governments - 53,320 -
Total liabilities 541,115 53,320 91,566
Fund Balances:

Nonspendable - Advances 368,489 - -
Restricted - 1,361,452 -
Unassigned 3,612,908 - (91,566)
Total fund balances 3,981,397 1,361,452 (91,566)
Total liabilities and fund balances $ 4,522,512 $ 1,414,772 $ - Major Funds
See accompanying Notes to Basic Financial Statements.
28 Non-Major
Governmental
Funds Totals
$ 617,198 $ 5,696,367
- 11,209
160,929 476,294
821,727 821,727
- 23,935
- 139,117
- 368,489
$ 1,599,854 $ 7,537,138
$ 36,524 $ 580,042
62,581 139,117
- 12,627
- 53,320
99,105 785,106
- 368,489
1,500,749 2,862,201
- 3,521,342
1,500,749 6,752,032
$ 1,599,854 $ 7,537,138
See accompanying Notes to Basic Financial Statements.
29 Total Fund Balances - Total Governmental Funds $ 6,752,032

Capital assets used in governmental activities were not current financial resources.

Therefore, they were not reported in the Governmental Funds' Balance Sheet. 22,258,433 Interest payable is not due and payable in the current period and, therefore, are not reported in the governmental funds balance sheet. (30,081) Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the governmental funds balance sheet.

Compensated absence $ (30,423)
Due within one year (81,215)
Due after one year (1,574,364)
Net pension liability (1,375,718)
Deferred outflows of resources - pensions 609,712
Deferred inflows of resources - pensions (93,697)
Total long-term liabilities $ (2,545,705) (2,545,705)
Net Position of Governmental Activities $ 26,434,679
Amounts reported for governmental activities in the Statement of Net Position were different because:

City of Waterford
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
June 30, 2024
See accompanying Notes to Basic Financial Statements.
30 Statement of Revenues, Expenditures and Changes in Fund Balances For the year ended June 30, 2024
CIP Streets
General Impact Fee and Roads
Fund Special Revenue Capital Projects
REVENUES:

Taxes and assessments $ 3,179,552 $ 3,894 $ -
Licenses and permits 144,791 - -
Intergovernmental 2,130,473 - 378,174
Fines and forfeitures 21,936 - -
Charges for services 6,390 - -
Use of money and property 189,702 35,159 -
Other revenues 59,213 - -
Total revenues 5,732,057 39,053 378,174
EXPENDITURES:

Current:

General government 181,123 - -
Public ways and facilities 376,070 - 19,710
Police services 2,204,855 - -
Parks and recreation 376,627 - -
Community development 356,363 - -
Capital outlay 1,161,045 2,160 1,926,816
Debt service:

Principal 60,653 - -
Interest and fiscal charges 48,238 - -
Total expenditures 4,764,974 2,160 1,946,526

REVENUES OVER (UNDER)
EXPENDITURES 967,083 36,893 (1,568,352)
OTHER FINANCING SOURCES (USES):

Proceeds from sale of capital assets 99,803 - -
Transfers in 522,867 32,824 862,227
Transfers out (1,817,738) (18,385) (32,824)
Total other financing
sources (uses) (1,195,068) 14,439 829,403
Net change in fund balances (227,985) 51,332 (738,949)
FUND BALANCES:

Beginning of year, as previously stated 4,143,461 - 647,383 Restatements 65,921 1,310,120 -
Beginning of year, as restated 4,209,382 1,310,120 647,383 End of year $ 3,981,397 $ 1,361,452 $ (91,566)
City of Waterford
Governmental Funds
Major Funds
See accompanying Notes to Basic Financial Statements.
31 Non-Major
Governmental
Funds Totals
$ 125,792 $ 3,309,238
- 144,791
1,553,036 4,061,683
- 21,936
- 6,390
17,829 242,690
34,167 93,380
1,730,824 7,880,108
- 181,123
99,505 495,285
29,811 2,234,666
- 376,627
- 356,363
586,206 3,676,227
16,880 77,533
5,612 53,850
738,014 7,451,674
992,810 428,434
- 99,803
24,321 1,442,239
(1,181,030) (3,049,977)
(1,156,709) (1,507,935)
(163,899) (1,079,501)
2,974,768 7,765,612
(1,310,120) 65,921
1,664,648 7,831,533
$ 1,500,749 $ 6,752,032
See accompanying Notes to Basic Financial Statements.
32 Net Change in Fund Balances - Total Governmental Funds $ (1,079,501) Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense to allocate those expenditures over the life of the assets:

Capital asset purchases capitalized $ 3,636,012
Capital asset contributions 1,569,424
Depreciation expense (1,079,100) 4,126,336
Some expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds:

Principal retirement of debt 77,533
Changes in interest payable (8,935)
Change in compensated absences (6,192)
Change in net pension liability and related accounts (150,507) (88,101)

Change in Net Position of Governmental Activities $ 2,958,734 Amounts reported for governmental activities in the Statement of Activities are different City of Waterford
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Government-Wide Statement of Activities For the year ended June 30, 2024
See accompanying Notes to Basic Financial Statements.
33 This page intentionally left blank
34 PROPRIETARY FUND FINANCIAL STATEMENTS
Wastewater Treatment Fund accounts for all financial transactions relating to the City's wastewater collection and treatment.

Water System Fund all financial transactions relating to the City’s three water systems, River Pointe, Waterford and Hickman.

Public Financing Authority Fund accounts for the accumulation of resources from lease payments and the payment of long-term debt incurred by the Financing Authority. 35 City of Waterford
Statement of Net Position
Proprietary Funds
June 30, 2024
Wastewater
Treatment
Fund
Water
System Fund
Public
Financing
Authority
Fund Totals
ASSETS
Current assets:

Cash and investments $ 1,621,028 $ 1,874,451 $ 257,503 $ 3,752,982 Restricted cash and investments - - 413,039 413,039
Receivables:

Account receivables 127,388 140,164 - 267,552
Advances to other funds - - 46,593 46,593
Total current assets 1,748,416 2,014,615 717,135 4,480,166 Noncurrent assets:

Loan to Successor Agency private purpose trust - - 155,000 155,000 Other advances - - 24,717 24,717
Capital assets, net 4,606,368 10,575,536 - 15,181,904
Total noncurrent assets 4,606,368 10,575,536 179,717 15,361,621 Total assets 6,354,784 12,590,151 896,852 19,841,787

DEFERRED OUTFLOW OF RESOURCES
Deferred loss on refunding 61,618 - 76,076 137,694
Deferred outflows related to pension 216,350 137,677 19,668 373,695 Total deferred outflows of resources 277,968 137,677 95,744 511,389

LIABILITIES
Current liabilities:

Accounts payable and accrued liabilities 116,719 656,351 - 773,070 Interest payable 19,804 4,774 - 24,578
Deposits payable 78,513 93,593 - 172,106
Unearned revenue 816,140 - - 816,140
Current portion of long-term debt 251,688 217,900 - 469,588 Compensated absences - current portion 9,272 11,456 - 20,728 Total current liabilities 1,292,136 984,074 - 2,276,210 Noncurrent liabilities:

Compensated absences 13,907 17,184 1,786 32,877
Long-term debt, due after one year 998,106 1,196,000 365,000 2,559,106 Advance from general fund - 415,082 - 415,082
Net pension liability 488,158 310,646 44,378 843,182
Total noncurrent liabilities 1,500,171 1,938,912 411,164 3,850,247 Total liabilities 2,792,307 2,922,986 411,164 6,126,457

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pension 33,247 21,157 3,022 57,426 Total deferred inflows of resources 33,247 21,157 3,022 57,426

NET POSITION
Net investment in capital assets 3,418,192 9,161,636 - 12,579,828 Restricted - - 413,039 413,039
Unrestricted (deficit) 389,006 622,049 165,371 1,176,426 Total net position $ 3,807,198 $ 9,783,685 $ 578,410 $ 14,169,293 See accompanying Notes to Basic Financial Statements.
36 Wastewater
Treatment
Fund
Water System
Fund
Public
Financing
Authority
Fund Totals
OPERATING REVENUES:

Charges for services $ 1,593,557 $ 2,412,480 $ 65,800 $ 4,071,837 Intergovernmental 72,610 - - 72,610
Total operating revenues 1,666,167 2,412,480 65,800 4,144,447 OPERATING EXPENSES:

Salaries and benefits 570,086 710,025 24,861 1,304,972
Maintenance and operations 369,047 605,157 6,575 980,779 Professional fees 69,961 197,096 4,959 272,016
Materials and supplies 29,855 225,080 - 254,935
Depreciation 211,609 322,715 - 534,324
Total direct operating expenses 1,250,558 2,060,073 36,395 3,347,026 OPERATING INCOME (LOSS): 415,609 352,407 29,405 797,421 NONOPERATING REVENUES (EXPENSES):

Interest revenue 9,090 42,972 31,912 83,974
Interest expense (79,543) (72,694) (71,179) (223,416)
Total Nonoperating revenues (expenses) (70,453) (29,722) (39,267) (139,442) NET INCOME (LOSS) BEFORE 345,156 322,685 (9,862) 657,979

TRANSFERS AND CONTRIBUTIONS
Capital contributions 487,720 238,950 - 726,670
Transfers in 363,548 1,454,190 - 1,817,738
Transfers out (2,500) (7,500) (200,000) (210,000)
Total capital contributions and transfers 848,768 1,685,640 (200,000) 2,334,408 Change in net position 1,193,924 2,008,325 (209,862) 2,992,387 NET POSITION:

Beginning of year 2,601,274 7,781,737 780,499 11,163,510 Restatements 12,000 (6,377) 7,773 13,396
Beginning of year, as restated 2,613,274 7,775,360 788,272 11,176,906 End of year $ 3,807,198 $ 9,783,685 $ 578,410 $ 14,169,293 City of Waterford
Statement of Revenues, Expenses and Changes in Fund Net Position Proprietary Funds
For the year ended June 30, 2024
See accompanying Notes to Basic Financial Statements.
37 City of Waterford
Statement of Cash Flows
Proprietary Funds
Wastewater
Treatment Fund
Water System
Fund
Public
Financing
Authority
Fund Totals
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers/users for services provided $ 1,643,861 $ 2,397,939 $ 65,800 $ 4,107,600 Cash payments to suppliers for goods and services (372,218) (459,383) (11,534) (843,135) Cash payments to employees for services (511,830) (675,812) (19,454) (1,207,096) Net cash provided by operating activities 759,813 1,262,744 34,812 2,057,369 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:

Cash received from other funds 363,548 1,454,190 - 1,817,738 Cash disbursements to other funds (2,500) (7,500) (200,000) (210,000) Net cash provided by (used in) noncapital
financing activities 361,048 1,468,515 (200,000) 1,629,563

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Acquisition and construction of capital assets (636,985) (2,223,692) - (2,860,677) Proceeds from capital grants 816,140 - - 816,140
Principal paid on long term debt (242,103) (211,300) - (453,403) Interest paid on long term debt (64,138) (72,694) (52,093) (188,925) Net cash used in capital and related financing activities (127,086) (2,507,686) (52,093) (2,686,865) CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from Loan to Successor Agency - - 45,000 45,000 Investment income received 9,090 42,972 29,462 81,524
Net cash provided by (used in) investing activities 9,090 42,972 74,462 126,524

NET INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS 1,002,865 266,545 (142,819) 1,126,591
CASH AND CASH EQUIVALENTS:

Beginning of year 618,163 1,607,906 813,361 3,039,430
End of year $ 1,621,028 $ 1,874,451 $ 670,542 $ 4,166,021

PRESENTATION IN STATEMENT OF NET POSITION
Cash and investments $ 1,621,028 $ 1,874,451 $ 257,503 $ 3,752,982 Restricted cash and investments - - 413,039 413,039
Total $ 1,621,028 $ 1,874,451 $ 670,542 $ 4,166,021
CASH FLOWS FROM OPERATING ACTIVITIES:

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) $ 415,609 $ 352,407 $ 29,405 $ 797,421 Adjustments to reconcile operating income (loss)
to net cash provided by operating activities:

Depreciation 211,609 322,715 - 534,324
Pension plan 53,406 33,985 4,854 92,245
(Increase) decrease in assets:

Accounts receivable (23,517) (18,041) - (41,558)
Increase (decrease) in liabilities:

Accounts payable 96,645 567,950 - 664,595
Deposits payable 1,211 3,500 - 4,711
Compensated absences 4,850 228 553 5,631
Net cash provided by (used in) operating activities $ 759,813 $ 1,262,744 $ 34,812 $ 2,057,369 NONCASH ITEMS: Developer capital asset contributions 487,720 238,950 - $ 726,670 For the year ended June 30, 2024
See accompanying Notes to Basic Financial Statements.
38 FIDUCIARY FUND FINANCIAL STATEMENTS
Successor Agency - Former Waterford Redevelopment Agency accounts for funds collected and disbursed for the dissolution of the former Waterford Redevelopment Agency related to Administration and Retirement of enforceable obligations
39 Private Purpose
Trust Fund
Agency -
Former
Waterford
Redevelopment
Agency
ASSETS
Current assets:

Cash and investments $ 4,239
Total assets 4,239

LIABILITIES
Current liabilities:

Due to others 24,717
Total current liabilities 24,717
Long term obligations:

Loan payable 155,000
Total long-term liabilities 155,000
Total liabilities 179,717

NET POSITION
Net position held in trust for
redevelopment dissolution (175,478)
Total net position (deficit) $ (175,478)
City of Waterford
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2024
See accompanying Notes to Basic Financial Statements.
40 Private Purpose
Trust Fund
Agency -
Former
Waterford
Redevelopment
Agency
ADDITIONS:

Property taxes $ 67,850
Total additions 67,850
DEDUCTIONS:

General government 7,000
Interest and trustee fees 12,424
Total Deductions 19,424
Change in fiduciary net position 48,426
NET POSITION:

Beginning of year (223,904)
End of year $ (175,478)
City of Waterford
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the year ended June 30, 2024
See accompanying Notes to Basic Financial Statements.
41 This page intentionally left blank
42 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

INDEX TO NOTES TO BASIC FINANCIAL STATEMENTS

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES .......................................................................... 44

2. CASH AND INVESTMENTS .............................................................................................................................. 54

3. ACCOUNTS RECEIVABLE ................................................................................................................................ 59

4. LOANS RECEIVABLE ......................................................................................................................................... 59

5. CAPITAL ASSETS ................................................................................................................................................ 60

6. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES ............................................................................... 62

7. LONG-TERM LIABILITIES ................................................................................................................................. 62

8. NET POSITION/ FUND BALANCES ............................................................................................................... 65

9. INTERFUND TRANSACTIONS ........................................................................................................................ 66

10. RISK MANAGEMENT ........................................................................................................................................ 68

11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM ............................................................................................. 69

12. COMMITMENTS AND CONTINGENCIES .................................................................................................... 73

13. PRIOR PERIOD ADJUSTMENTS ....................................................................................................................... 73

14. EXCESS EXPENDITURES OVER APPROPRIATIONS .................................................................................. 75 43 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City of Waterford, California (City) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental agencies. The Governmental Accounting Standards Board (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 of Waterford (City) was chartered in 1969, under the laws and regulations of the State of California (State). The City operates under a City Council/Manager form of government and provides the following services: general government, public ways and facilities, police services, parks, community development, wastewater treatment facilities, and water.

The City operates as a self-governing local government unit within the State. It has limited authority to levy taxes and has the authority to determine user fees for the services that it provides. The City’s main funding sources include taxes, other intergovernmental revenue from state and federal sources, user fees, and federal and state financial assistance.

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.

As required by GAAP, these financial statements present the government and its component units, entities for which the government is considered to be financially accountable. These component units are reported on a blended basis. Blended component units, although legally separate entities, are, in substance, part of the government’s operations and so data from these units are combined with data of the primary government. The financial statements of the individual component units, if applicable as indicated below, may be obtained by writing to the City of Waterford, Finance Department, 101 E Street, Waterford, CA 95386.

The City’s reporting entity includes the following blended component unit:

The Waterford Public Financing Authority was established to provide for financing of public capital improvements for the City, the Agency and other local agencies. The City Council members serve as the Governing Board of the Authority and all accounting and administrative functions are performed by the City, which records all activity of the Authority in an enterprise fund. Financial statements for the Authority may be obtained from the City's finance department. 44 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus
The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity with its own self-balancing set of accounts that comprise its assets, deferred outflows of resources, liabilities, deferred inflows of resources, fund equity, revenues and expenditures or expenses. These funds are established for the purpose of carrying out specific activities or certain objectives in accordance with specific regulations, restrictions or limitations. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled.

Government-Wide Financial Statements
The City’s Government-Wide Financial Statements include a Statement of Net Position and a Statement of Activities. These statements present summaries of Governmental and Business-Type Activities for the City accompanied by a total column.

These financial statements are presented on an “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all of the City’s assets, deferred inflows/outflows of resources, and liabilities, including capital assets, as well as infrastructure assets, and long-term liabilities, are included in the accompanying Statement of Net Position. The Statement of Activities presents changes in net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liabilities are incurred.

Certain types of transactions reported as program revenues for the City are reported in three categories:
 Charges for services
 Operating grants and contributions
 Capital grants and contributions
Certain eliminations have been made in regards to interfund activities, payables, and receivables. All internal balances in the Statement of Net Position have been eliminated except those representing balances between the governmental activities and the business-type activities, which are presented as internal balances and eliminated in the total primary government column. In the Statement of Activities, internal fund transactions have been eliminated; however, those transactions between governmental and business-type activities have not been eliminated. The following interfund activities have been eliminated:
 Due to/from other funds
 Transfers in/out
The City applies all applicable GASB pronouncements including all NCGA Statements and Interpretations currently in effect.
45 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Governmental Fund Financial Statements
Governmental fund financial statements include a Balance Sheet and a Statement of Revenues, Expenditures and Changes in Fund Balances for all major governmental funds and non-major funds aggregated. An accompanying schedule is presented to reconcile and explain the differences in net position as presented in these statements to the net position presented in the government-wide financial statements. The City has presented all major funds that meet specific qualifications.

All governmental funds are accounted for on a spending or “current financial resources” measurement focus and the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on the balance sheets. The Statement of Revenues, Expenditures and Changes in Fund Balances present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period.

The City reports the following funds as major governmental funds of the City:

General Fund accounts for resources traditionally associated with governmental activities that are not required legally or by sound financial management to be accounted for in another fund.

Impact Fees Special Revenue Fund accounts for Development Impact Fees collected and expended.

CIP Streets and Roads Capital Projects Fund accounts for all streets and roads construction projects.

The City reports the following funds as non-major governmental funds of the City:

Gas tax Special Revenue Fund accounts for funds received and expended for street maintenance purposes as defined in Sections 2105, 2106, 2107, and 2107.5 of the Streets and Highway Code.

Local Transportation Special Revenue Fund accounts for funds received and expanded for streets and road under the Transportation Development Act.

Community Development Special Revenue Fund accounts for monies received from the US Department of Housing & Urban Development and expanded principally for programs and activities to benefit low-income residents through a first time homebuyers program to produce affordable housing and rehabilitate existing residential units and infrastructure improvements in low/moderate income neighborhoods.

Lighting District Special Revenue Fund accounts for Assessments collected and expended for the City of Waterford Lighting District.

Abandoned Vehicle Abatement Special Revenue Fund accounts for funds received and expended for Abandoned Vehicle Abatement.

Lighting and Landscaping Special Revenue Fund accounts for Assessments collected and expended for the City of Waterford Lighting and Landscaping District.

Special Business Pilot Program Special Revenue Fund accounts for cannabis pilot program revenue. 46 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued CFD 2019-1 Maintenance Service Fund accounts for the services, administrative expenditures and other maintenance expenditures for the Community Facility District CIP Streets Measure L Capital Projects Fund accounts for Measure L monies received by the City for local streets and roads construction projects.

CIP Parks Capital Projects Fund accounts for all parks related construction projects.

The City considers all revenues reported in the governmental funds to be available if the revenues are collected within 60 days after year end, with the exception of grant revenues. Grant revenues are considered to be available if collected within 180 days of the end of the current fiscal period.

Property taxes, franchise taxes, licenses, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal year.

All other revenue items are considered to be measurable and available only when cash is received by the government. Expenditures (including capital outlay) are recorded when the related fund liability is incurred.

The Reconciliation of the Fund Financial Statements to the Government-Wide Financial Statements is provided.

Proprietary Fund Financial Statements
Proprietary fund financial statements include a Statement of Net Position, a Statement of Revenues, Expenses and Change in Net Position, and a Statement of Cash Flows for all proprietary funds.

Proprietary funds are accounted for using the “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all assets and liabilities (whether current or noncurrent) are included on the Statement of Net Position. The Statement of Revenues, Expenses and Changes in Net Position present increases (revenues) and decreases (expenses) in total net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which a liability is incurred.

Operating revenues in the proprietary funds are those revenues that are generated from the primary operations of the fund. All other revenues are reported as non-operating revenues. Operating expenses are those expenses that are essential to the primary operations of the fund. All other expenses are reported as non-operating expenses.

The City reports the Wastewater Treatment, Water System and Public Financing Authority Funds as proprietary funds of the City.

Wastewater Treatment Fund accounts for all financial transaction relating to the City’s wastewater collection and treatment.

Water System Fund accounts for all the financial transactions relating to the city’s three water systems, River Pointe, Waterford and Hickman.
47 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Proprietary Fund Financial Statements, Continued
Public Financing Authority Fund accounts for the accumulation of resources from lease payments and the payment of long-term debt incurred by the financing Authority.

Fiduciary Fund Financial Statements
Fiduciary fund financial statements consist of a Statement of Fiduciary Net Position and a Statement of Changes in Fiduciary Net Position. The City has one types of fiduciary fund, a private-purpose trust fund. Private-purpose trust funds account for resources of all other trust arrangements in which principal and income benefit individuals, private organizations, or other governments (i.e. unclaimed property/escheat property). Fiduciary funds are accounted for using the accrual basis of accounting.

The City reports the following fiduciary fund:

Successor Agency-Former Waterford Redevelopment Agency-Trust Fund – accounts for funds collected and disbursed for the dissolution of the former Waterford Redevelopment Agency related to administration and retirement of enforceable obligations.

C. Cash, Cash Equivalents, and Investments
The City pools cash resources from all funds in order to facilitate the management of cash. The balance in the pooled cash account is available to meet current operating requirements. Cash in excess of current requirements is invested in various interest-bearing accounts and other investments for varying terms.

In accordance with GASB Statement No. 40, Deposit and Investment Disclosures (Amendment of GASB No. 3), certain disclosure requirements for Deposits and Investment Risks were made in the following areas:
 Interest Rate Risk
 Credit Risk
o Overall
o Custodial Credit Risk
o Concentrations of Credit Risk
In addition, 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. 48 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued C. Cash, Cash Equivalents, and Investments, Continued
In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools, highly liquid market investments with maturities of one year or less at time of purchase are stated at amortized cost. All other investments are stated at fair value. The City categorizes the fair value measurements of its investments based on the hierarchy established by generally accepted accounting principles. The fair value hierarchy, which has three levels, is based on the valuation inputs used to measure an asset’s fair value: Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs.

The City participates in an investment pool managed by the State of California entitled Local Agency Investment Fund (LAIF) which has invested a portion of the pooled funds in Structured Notes and AssetBacked Securities. LAIF’s investments are subject to credit risk with the full faith and credit of the State of California collateralizing these investments. In addition, these Structured Notes and Asset-Backed Securities are subject to market risk as to the change in interest rates.

Cash equivalents are considered amounts in demand deposits and short-term investments with a maturity date within three months of the date acquired by the City and are presented as “Cash and Investments” in the accompanying Basic Financial Statements.

For the purpose of the statement of cash flows, the City considers all pooled cash and investments (consisting of cash and investments and restricted cash and investments) held by the City as cash and cash equivalents because the pool is used essentially as a demand deposit account from the standpoint of the funds. The City also considers all non-pooled cash and investments (consisting of cash with fiscal agent and restricted cash and investments held by fiscal agent) as cash and cash equivalents because investments meet the criteria for cash equivalents defined above.

D. Restricted Cash and Investments
Certain restricted cash and investments are held by fiscal agents for the redemption of bonded debt, for acquisition and construction of capital projects, and to meet bond indenture debt reserve requirements.

Cash and investments are also restricted for deposits held for others within the enterprise funds.

E. Capital Assets
Capital assets, which include land, buildings, improvements, equipment, furniture, and infrastructure assets (e.g. roads, sidewalks, and similar items), are reported in the applicable governmental or businesstype activities in the Government-Wide Financial Statements. Capital assets are recorded at historical cost or estimated historical cost if actual cost is not available. Donated assets are valued at acquisition value on the date donated.

Prior to July 1, 2003, governmental funds’ infrastructure assets were not capitalized, since then these assets have been valued at estimated historical cost.
49 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued E. Capital Assets, Continued
City policy has set the capitalization threshold for reporting capital assets at the following:

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. GASB Statement No. 34 requires that all capital assets with limited useful lives be depreciated over their estimated useful lives. 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. No depreciation is recorded in the year of acquisition or in the year of disposition.

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

Buildings and Improvements 15 - 30 years
Equipment and Vehicles 5 – 15 years
Treatment Plant 50 years
Infrastructure – Streets 10 – 40 years
Infrastructure – Parks 10 – 40 years
Public domain (infrastructure) capital assets include roads, bridges, curbs and gutters, streets, sidewalks, drainage systems, and lighting systems.

Interest accrued during capital assets construction, if any, is capitalized for the business-type activities as part of the asset cost.

F. Compensated Absences
City employees are granted vacation in varying amounts based on classification and length of service.

Upon termination or retirement, the city pays 100% of the vacation time accrued and normally none of the accrued sick leave. The city’s liability for the compensated absences is recorded in various Governmental funds and Proprietary funds as appropriate. The City’s liability for the compensated absences is determined annually. The short-term liability which will be liquidated with current financial resources is the amount of settlement reached, but unpaid, related to claims and judgments entered.

General Capital Assets $ 10,000
Infrastructure Capital Assets $ 25,000
50 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued G. Long Term Debt
Government-Wide Financial Statements – Long-term debt and other long-term obligations are reported as liabilities in the appropriate activities.

Bond premiums and discounts are amortized over the life of the bonds using the effective interest method. Bonds payable is reported net of the applicable bond premium or discount. Bond issuance costs, except any portion related to prepaid insurance costs, are recognized as an expense in the period incurred.

Fund Financial Statements – The governmental fund financial statements do not present long-term debt.

As such, long-term debt is shown in the Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position.

Bond premiums and discounts are recognized during the current period as other financing sources or uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. Bond proceeds are reported as other financing sources.

Proprietary Fund and Fiduciary Fund Financial Statements use the same principles as those used in the Government-Wide Financial Statements.

H. Property Taxes
Property taxes in the State of California are administered for all local agencies at the county level and consist of secured, unsecured, and utility tax rolls. The following is a summary of major policies and practices relating to property taxes.

Stanislaus County assesses properties and it bills, collects, and distributes property taxes to the City. The County remits the entire amount levied and handles all delinquencies, retaining penalties. Secured and unsecured property taxes are levied on January 1 of the preceding fiscal year.

Secured property tax is due in two installments, on November 1 and February 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. Collection of delinquent accounts is the responsibility of the County, which retains all penalties collected.

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.

I. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of net position (balance sheet) will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. 51 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued I. Deferred Outflows/Inflows of Resources, Continued
In addition to liabilities, the statement of net position (balance sheet) will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

J. Net Position
Government-Wide Financial Statements
In the Government-Wide Financial Statements, net position are 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.

Restricted – This amount is restricted by external creditors, grantors, contributors, or laws or regulations of governments.

Unrestricted – This amount is all net position that does not meet the definition of “net investment in capital assets” or “restricted net position” as defined above.

When an expense is incurred for purposes for which both restricted and unrestricted net position are available, the City’s policy is to apply restricted net position first.

K. Fund Balances
Fund Financial Statements
In February 2009, the Governmental Accounting Standards Board (GASB) issued Statement 54, Fund Balance Reporting and Governmental Fund Type Definitions (GASB 54). The new classifications of fund balances are listed below:

Non-spendable Fund Balances
These include amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact, e.g., the principal of an endowment fund.

Examples of “not in spendable form” include inventory, prepaid amounts, long-term notes and loans, property held for resale and other items not expected to be converted to cash. However, if the proceeds from the eventual sale or liquidation of the items would be considered restricted, committed or assigned (as defined further on) then these amounts would be included in the restricted, committed or assigned instead of the non-spendable classification. A debt service reserve fund held by a trustee is an example of fund balance in non-spendable form that is classified as restricted instead of non-spendable since the reserve is eventually liquidated to make the final debt service principal payment. 52 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued K. Fund Balances, Continued
Restricted Fund Balances
Restricted fund balances have externally enforceable limitations on use. The limitations on use can be imposed by creditors, grantors, or contributors as well as by constitutional provisions, City charter, enabling legislation, laws and government regulations.

Committed Fund Balances
Amounts that can only be used for specific purposes pursuant to constraints imposed by formal action (Resolution) of the City Council are classified as committed fund balances. The formal action that is required to be taken to establish, modify, or rescind the fund balance commitment is resolution.

Assigned Fund Balances
Fund balance amounts for which the City Council has expressed intent for use but not taken formal action to commit are reported as assigned under GASB 54. These include funds encumbered by purchase order in the General Fund for which the authorization has not lapsed, interest accrued to restricted or committed fund balances when such interest is not required to be classified as restricted or committed.

Assigned amounts for a specific purpose are authorized by the City Manager through its fund balance policy.

Unassigned Fund Balance
The residual classification for the General Fund is unassigned fund balance. The General Fund is the only fund that may report a positive unassigned balance.

Hierarchy of Expenditures to Classify Fund Balance Amounts To determine the composition of ending fund balances, the Council established the order in which restricted and unrestricted (committed, assigned and unassigned) funds are to be expended. To this purpose, for expenditures made in any governmental fund, the restricted amounts will be reduced first, followed by committed amounts, assigned amounts, and then unassigned amounts.

L. Pension
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City’s California Public Employees’ Retirement System (CalPERS) plan (Plan) and additions to/deductions from the Plans’ 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. 53 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued M. Use of Estimates
The preparation of the Basic Financial Statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. In addition, estimates affect the reported amounts of revenues and expenses. Actual results could differ from these estimates and assumptions.

N. New Pronouncements
In 2024, the City adopted new accounting standards to confirm to the following Governmental Accounting Standard Board Statements:

GASB Statement No. 100, Accounting Changes and Error Corrections – an Amendment of GASB Statement No. 62 – This Statement enhances accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent, and comparable information for making decisions or assessing accountability.

2. CASH AND INVESTMENTS
The City maintains a cash and investment pool for all funds. Certain restricted funds that are held and invested by independent outside custodians through contractual agreements are not pooled. These restricted funds include cash and investment held by trustees.

The following is a summary of cash and investments at June 30, 2024:

Governmental Business-Type Fiduciary
Activities Activities Funds Total
Deposits and investments $ 5,696,367 $ 3,752,982 $ 4,239 $ 9,453,588 Restricted cash and investments 413,039 - 413,039 - Total cash and investments $ 5,696,367 $ 4,166,021 $ 4,239 $ 9,866,627 Government-Wide Statement
54 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024
A. Summary of Cash and Investments
Cash and investments as of June 30, 2024 consist of the following:

B. Deposits
The carrying amount of the City’s cash deposit was $4,243,331 at June 30, 2024. Bank balances before reconciling items were a positive amount of $5,259,638 at June 30, 2024. The City’s cash deposit was fully insured up to $250,000 by the Federal Deposit Insurance Corporation. The remaining amount was collateralized with securities held by the pledging financial institutions in the City’s name.

The California Government Code (Code) Section 53652 requires California banks and savings and loan associations to secure the City’s cash deposits by pledging securities as collateral. The Code states that collateral pledged in this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor. Thus, collateral for cash deposits is considered to be held in the City's name.

The fair value of pledged securities must equal at least 110% of the City’s cash deposits. California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the City’s total cash deposits.

The City follows the practice of pooling cash and investments of all funds, except for funds required to be held by fiscal agents under the provisions of bond indentures. Interest income earned on pooled cash and investments is allocated to the various funds based on the period-end cash and investment balances.

Interest income from cash and investments with fiscal agents is credited directly to the related fund.

Cash on hand $ 625
Deposits with financial institution 4,243,331
Total cash on hand and deposits 4,243,956
Investments 5,209,632
Subtotal City Treasury 9,453,588
Restricted cash and investments 413,039
Total cash and investments $ 9,866,627
55 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
C. Investments
Under the provisions of the City’s investment policy, and in accordance with the Code, the following investments are authorized:

Authorized Investment Type
Maximum
Maturity
Maximum
Percentage of
Portfolio
Maximum
Investment in
One Issuer
Bankers' Acceptance 180 days 30% 30%
Negotiable Certificates of Deposit N/A 10% 10%
Commercial Paper 270 days 15%
Lesser of
$3 Million
or 10%
State of California Local Agency Upon Demand $75 Million per entity
N/A
Investment Fund (State Pool) Upon Demand $75 Million per entity
N/A
Medium Term Notes 5 years 10% None
Money Market Funds N/A Unlimited Unlimited
U.S. Treasury Obligations 10 years Unlimited None
U.S. Government Agency Issues 10 years Unlimited None
Municipal Notes or Bonds N/A 10 None
Repurchase Agreements 1 year Unlimited None
Mutual Funds N/A 20% 10%
56 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
C. Investments, Continued
The City’s portfolio value fluctuates in an inverse relationship to any change in interest rate.

Accordingly, if interest rates rise, the portfolio value will decline. If interest rates fall, the portfolio value will rise. The portfolio for year-end reporting purposes is treated as if it were all sold. Therefore, fund balance must reflect the portfolio’s change in value. These portfolio value changes are unrealized unless sold. Generally the City’s practice is to buy and hold investments until maturity dates. Consequently, the City’s investments are carried at fair value.

The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by Code Section 16429 under the oversight of the Treasurer of the State of California. The City’s investments with LAIF at June 30, 2024, include a portion of the pool funds invested in Structured Notes and Asset-Backed Securities. These investments include the following:

Structured Notes – are debt securities (other than asset-backed securities) whose cash flow characteristics (coupon rate, redemption amount, or stated maturity) depend upon one or more indices and/or have embedded forwards or options.

Asset-Backed Securities – the bulk of which are mortgage-backed securities, entitle their purchasers to receive a share of the cash flows from a pool of assets such as principal and interest repayments from a pool of mortgages (such as Collateralized Mortgage Obligations) or credit card receivables.

As of June 30, 2024, the City had $3,491,456 invested in LAIF, which had invested 3.00% of the pool investment funds in Structured Notes and Asset-Backed Securities as compared to 2.78% in the previous year. The LAIF fair value factor of 0.996316042 was used to calculate the fair value of the investments in LAIF.

The City is a voluntary participant in the Central San Joaquin Valley Risk Management Authority investment pool. The Authority has established an investment pool to allow its members to participate in the same investments in which the Authority’s excess funds are invested. The pool is meant as a longterm investment tool for the member cities. The minimum contribution to the pool is $100,000. Interest is apportioned quarterly, based on each member’s pool balance. 57 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
D. Risk disclosure
Interest Risk: Interest rate risk is the market value fluctuation due to overall changes in the interest rates.

It is mitigated by limiting the average maturity of the City’s portfolio not to exceed three years.

Investments held in the City Treasury grouped by maturity date at June 30, 2024, are shown below:

Credit Risk: Credit risk is the risk that a security or a portfolio will lose some or all of its value due to a real or perceived change in the ability of the issuer to repay its debt. According to the City’s investment policy, no more than 10% of the total portfolio may be invested in securities of any single issuer, other than the US Government, its agencies and instrumentalities, and LAIF. If a security is downgraded by either Moody’ or S&P to a level below the minimum quality required by the City, it shall be the City’s policy to sell that security as soon as practicable.

At June 30, 2024, the City’s deposits and investments were rated as follows:

Custodial Credit Risk: For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. None of the City’s investments were subject to custodial credit risk.

E. Investment Valuation
Investments (except for money market accounts, time deposits, and commercial paper) are measured at fair value on a recurring basis. Recurring fair value measurements, are those that Governmental Accounting Standards Board (GASB) Statements require or permit in the statement of net position at the end of each reporting period. Fair value measurements are categorized based on the valuation inputs used to measure an asset’s fair value: Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. The City’s investments were not subject to levelling disclosure.

Investment Type Total 1 year or Less 1 - 2 years 2- 3 years State Of California Local Agency Investment Fund 3,491,456 $ $ 3,491,456 $ - $ - CSJVRMA Investment Pool 1,718,176 1,718,176 - - Total $ 5,209,632 $ 5,209,632 $ - $ - Investment Maturities (in years)
Investment Type Moody's S&P
State Of California Local Agency Investment Fund Not Rated Not Rated Investment Pool Not Rated Not Rated
Credit Quality Ratings
58 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

3. ACCOUNTS RECEIVABLE
Accounts receivable consisted of the following at June 30, 2024:

Amounts do not indicate a significant concentration (greater than 25%) with any single individual, business or agency.

4. LOANS RECEIVABLE
Community Development Block Grant Program Loans – The City participates in a CDBG Revolving loan program. The program is federally funded and provides housing rehabilitation loans to eligible applicants.

The City makes loans to resident homeowners who qualify as low income, some of which are deferred and are not repaid until the title to property changes. The balance of these loans at June 30, 2024 was $821,727.

During the fiscal year, the City did not issue any new loans.

Governmental
Activities
Business-type
Activates Total
Current:

Accounts receivable $ 511,438 $ 267,552 $ 778,990
Total current 511,438 267,552 778,990
Noncurrent:

Loans/notes receivable 821,727 821,727 - Loans receivable from Private Purpose Trust 155,000 - 155,000 Total noncurrent 821,727 155,000 976,727
Total receivables $ 1,333,165 $ 422,552 $ 1,755,717
59 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

5. CAPITAL ASSETS
Governmental capital asset activity for the year ended June 30, 2024, was as follows:

Balance
7/1/2023 Balance
(as restated) Additions Deletions Transfers 6/30/2024
Governmental activities:

Nondepreciable assets:

Land $ 5,399,530 $ - $ - $ 5,399,530 - $
Construction in progress 1,282,910 3,611,551 (3,736,275) - 1,158,186 Total nondepreciable assets 6,682,440 3,611,551 (3,736,275) - 6,557,716 Depreciable assets:

Buildings and structures 5,120,335 - - 5,120,335 - Equipment 3,008,797 24,461 331,453 - 3,364,711 Vehicles 798,635 - - 798,635 - Infrastructure 14,113,708 1,569,424 3,404,822 - 19,087,954 Total depreciable assets 23,041,475 1,593,885 3,736,275 - 28,371,635 Total 29,723,915 5,205,436 - 34,929,351 - Accumulated depreciation:

Buildings and improvements (2,351,316) (245,162) - (2,596,478) - Equipment (2,256,419) (158,047) - (2,414,466) - Vehicles (631,314) (38,722) - (670,036) - Infrastructure (6,352,769) (637,169) - (6,989,938) - Total accumulated depreciation (11,591,818) (1,079,100) - (12,670,918) - Net depreciable assets 11,449,657 514,785 3,736,275 - 15,700,717 Total net capital assets $ 18,132,097 $ 4,126,336 $ - $ 22,258,433 - $ General government $ 153,744
Public ways and facilities 792,753
Police services 4,854
Parks and recreation 127,749
Total $ 1,079,100
Depreciation expense for capital assets was charged to functions as follows:
60 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

5. CAPITAL ASSETS, Continued
Business-type capital asset activity for the year ended June 30, 2024, was as follows:

Balance
7/1/2023 Balance
(as restated) Additions Deletions Transfers 6/30/2024
Business-type activities
Nondepreciable assets:

Land $ 427,672 $ - $ - $ 427,672 - $
Construction in progress 73,052 2,566,005 - 2,639,057 - Total nondepreciable assets 500,724 2,566,005 - 3,066,729 - Depreciable assets:

Buildings and improvements 962,118 - - 962,118 - Treatment plant 11,988,410 1,021,342 - 13,009,752 - Equipment 4,392,010 - - 4,392,010 - Vehicles 501,955 - - 501,955 - Total depreciable assets 17,844,493 1,021,342 - 18,865,835 - Total 18,345,217 3,587,347 - 21,932,564 - Accumulated depreciation:

Buildings and improvements (760,961) (25,863) 363,300 - (423,524) Treatment plant (3,134,428) (341,970) (368,185) - (3,844,583) Equipment (1,939,406) (143,809) 27,602 - (2,055,613)
Vehicles (381,541) (22,682) (22,717) - (426,940)
Total accumulated depreciation (6,216,336) (534,324) - (6,750,660) - Net depreciable assets 11,628,157 487,018 - 12,115,175 - Total net capital assets $ 12,128,881 $ 3,053,023 $ - $ 15,181,904 - $ $ 211,609
322,715
Total $ 534,324
Depreciation expense for capital assets was charged to functions as follows:

Wastewater Treatment
Water System
61 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

6. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Accounts payable and accrued liabilities consisted of the following at June 30, 2024:

Amounts do not indicate a significant concentration (greater than 25%) with any single vendor or employee

7. LONG-TERM LIABILITIES
The following is a summary of changes in long-term liabilities for the year ended June 30, 2024:

Governmental
Activities
Business-type
Activities
Fiduciary
Activities Total
Accounts payable $ 580,042 $ 773,070 $ 1,353,112 - $
Interest payable 30,081 24,578 - 54,659
Due to other - - 24,717 24,717
Deposits payable - 172,106 - 172,106
Total $ 610,123 $ 969,754 $ 24,717 $ 1,604,594

Issue Amount
Balance
June 30, 2023 Addition Retirements
Balance
June 30, 2024
Current
Portion
Noncurrent
Portion
Governmental Activity Debt:

Capital Lease
PNC Equipment Finance, LLC Lease Payable 297,678 $ $ 172,305 $ (18,347) - $ $ 153,958 $ 22,131 $ 131,827 USDA Loan 1,160,727 1,461,552 (43,055) - 1,418,497 42,789 1,375,708 California Energy Commission Loan Payable 220,624 99,255 (16,131) - 83,124 16,295 66,829 Total Governmental Activity Debt $ 1,679,029 $ 1,733,112 $ (77,533) - $ $ 1,655,579 $ 81,215 $ 1,574,364 Business-type Activity Debt:

Wastewater Treatment Facility
Series 2012 Refunding Bonds,
7%, due 9/15/27 (Publicly Placed) $ 1,930,000 $ 835,000 $ (145,000) - $ $ 690,000 $ 150,000 $ 540,000 PNC Equipment Finance, LLC Lease Payable 297,678 172,304 (18,348) - 153,956 22,131 131,825 California Energy Commission Loan Payable 1,077,166 484,593 (78,755) - 405,838 79,557 326,281 Total Wastewater Treatment Facility 3,304,844 1,491,897 (242,103) - 1,249,794 251,688 998,106 Water System Fund
Water Purchase Loan 3,100,000 1,625,200 (211,300) - 1,413,900 217,900 1,196,000 Total Water System Fund 3,100,000 1,625,200 (211,300) - 1,413,900 217,900 1,196,000 Public Financing Authority
Series 2012 Refunding Bonds,

1.0-4.75%, due 9/15/27 (Publicly Placed) 2,165,000 365,000 - 365,000 - 365,000 - Total Public Financing Authority 2,165,000 365,000 - 365,000 - 365,000 - Total Business-Type Activity Debt $ 8,569,844 $ 3,482,097 $ (453,403) - $ $ 3,028,694 $ 469,588 $ 2,559,106 Total Primary Government $ 10,248,873 $ 5,215,209 $ (530,936) - $ $ 4,684,273 $ 550,803 $ 4,133,470 62 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

7. LONG-TERM LIABILITIES, Continued
A. PNC Equipment Finance Purchase Agreement
The City entered into a Lease Agreement with PNC Equipment Finance to fund a portion of the Solar Energy Project. The total amount financed is $595,356. The obligation funded solar energy improvements in the Wastewater Enterprise Fund, the City’s General Fund, and the Special Revenue Funds Lighting District and Lighting and Landscaping District. Amounts due under the lease obligation started in January of 2015. Annual payments ranging from $26,194 to $82,908 will be due each January thereafter until maturity in 2029.

B. USDA Loan
In August of 2017 the City of Waterford entered in an agreement with the USDA to provide Certificates of Participation in the amount of $1,750,000. The funds are to be used for the construction of a new police facility. The amount will be paid back over 30 years and accrue interest of 3.25%. The final payment will be due in August of 2047.

C. California Energy Commission Loan Payable
The City entered into a Loan Agreement with the California Energy Commission to fund a portion of the Solar Energy Project. The total amount financed is $1,297,790. The obligation funded solar energy improvements in the Wastewater Enterprise Fund and the City’s General Fund. Bi-annual payments of $50,423 will be due through maturity. The loan is at a stated rate of interest of 1% and matures in 2029.

D. Revenue Bonds
In September 2003 the Public Financing Authority issued Refunding Revenue Bonds in the principal amount of $5,795,000 to refund the aggregate outstanding principal amount of the 1996A and 1997A Revenue Bonds which were called on September 15, 2003. Principal payments were due annually; interest payments were due semi-annually on March 15 and September 15. The 2003 Bonds were refunded in fiscal year 2012 with the 2012 Bonds discussed below, and the 2003 Bonds were called in March 2012.

In February 2012, the Authority issued the 2012 Refunding Revenue Bonds in the principal amount of $4,095,000 to refund the outstanding principal amount of the 2003 Bonds. The refunding reduced total debt service by $211,109, resulting in an economic gain (difference between the present values of the debt service payments on the old and new debt) of $191,639.
63 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

7. LONG-TERM LIABILITIES, Continued
E. Revenue Bonds, Continued
The 2012 Bonds are repayable from former Redevelopment Agency tax increment revenues, Wastewater Enterprise charges for services, and the revenues received from the special assessment district debt.

However, since the former Redevelopment Agency's portion of the Bonds is now repayable by the Successor Agency, the Public Financing Authority has recorded a receivable from the Successor Agency in the amount of its share of the Bonds, which was $535,000 at June 30, 2012. The balance at June 30, 2024 is $365,000. The 2012 Revenue Bonds have been recorded as liabilities of the enterprise funds from which repayment is expected.

E. Loan Payable - Water Purchase
The City entered into a Loan Agreement with Umpqua Bank to fund the acquisition of the Waterford and Hickman Water Systems. The total amount financed is $2,934,900. Bi-Annual payments of principal interest are due through June 1, 2030. Payments total approximately $259,000 per year and include interest of 3.13%.

F. Debt Service Requirement
Annual debt service requirements are shown below:

Principal Interest Principal Interest Principal Interest 2025 $ 44,262 $ 109,000 $ 42,789 $ 48,708 $ 95,852 $ 4,667 2026 52,353 9,333 44,180 47,295 97,142 3,703
2027 60,998 7,480 45,616 45,836 98,116 2,729
2028 70,227 5,321 47,098 44,330 99,096 1,750
2029 80,074 2,831 48,629 42,774 98,756 752
2030-2034 - 267,905 - 188,707 - - 2035-2039 - 314,363 - 141,494 - - 2040-2044 - 368,876 - 86,095 - - 2054/2058 2045-2048 - 239,041 - 22,584 - - Total $ 307,914 $ 133,965 $ 1,418,497 $ 667,823 $ 488,962 $ 13,601 Due within one year $ 44,262 $ 109,000 $ 42,789 $ 48,708 $ 95,852 $ 4,667 Due after one year 263,652 24,965 1,375,708 619,115 393,110 8,934 Total $ 307,914 $ 133,965 $ 1,418,497 $ 667,823 $ 488,962 $ 13,601 Year Ending
June 30,
PNC Equipment Finance
Purchase Agreement USDA Loan
California Energy Commission
Loan Payable
64 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

7. LONG-TERM LIABILITIES, Continued
F. Debt Service Requirement, Continued
G. Compensated Absences
The City records employee absences, such as vacation, illness, and holidays, for which it is expected that employees will be paid as compensated absences within the current year. Compensated absences had a balance of $30,423 for governmental funds and $53,605 for proprietary funds at June 30, 2024.

8. NET POSITION/ FUND BALANCES
A. Net Position
 Restricted balances are for the same purposes as fund balance restrictions because external restriction requirements are the same. See descriptions of the restrictions below.

Principal Interest Principal Interest Principal Interest 2025 $ 150,000 $ 45,675 $ 217,900 $ 43,830 $ 550,803 $ 251,880 2026 160,000 38,775 224,700 37,076 578,375 136,182
2027 170,000 31,244 231,700 30,110 606,430 117,399
2028 575,000 13,656 239,000 22,928 1,030,421 87,985
2029 - 246,400 - 15,518 473,859 61,875
2030-2034 - 254,200 - 7,880 522,105 196,587
2035-2039 - - - 314,363 - 141,494
2040-2044 - - - 368,876 - 86,095
2049/2053 2045-2048 - - - 239,041 - - 22,584- Total $ 1,055,000 $ 129,350 $ 1,413,900 $ 157,342 $ 4,684,273 $ 1,102,081 Due within one year 150,000 $ $ 45,675 $ 217,900 $ 43,830 $ 550,803 $ 251,880 Due after one year 905,000 83,675 1,196,000 113,512 4,133,470 850,201 Total $ 1,055,000 $ 129,350 $ 1,413,900 $ 157,342 $ 4,684,273 $ 1,102,081 Revenue Bonds
Loan Payable -
Year Ending Water Purchase Total
June 30,
Governmental
Activities
Business-type
Activities Total
Net Investment in Capital Assets 20,602,854 $ $ 12,290,904 $ 32,893,758 Restricted 2,862,201 413,039 3,275,240
Unrestricted 2,969,624 1,465,350 4,434,974
Total $ 26,434,679 $ 14,169,293 $ 40,603,972
65 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

8. NET POSITION/ FUND BALANCES, Continued
B. Fund Balance
Nonspendable, Restricted, Assigned, and Unassigned fund balance consisted of the following at June 30, 2024:

9. INTERFUND TRANSACTIONS
Due to and from balances result from the time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3) payments between funds are made.

Due to and due from other funds consisted of the following as of June 30, 2024:

Nonspendable:

Advances $ 368,489
Total Nonspendable $ 368,489
Restricted:

Community Development $ 1,131,986
Lighting District 129,453
Abandoned Vehicle Abatement 30,584
Lighting and Landscaping 6,067
Impact Fee 1,361,452
CIP Street Measure L 180,020
Special Business Pilot Program 9,511
CFD 2019-1 Maintenance Service 13,128
Total Restricted $ 2,862,201
Unassigned (deficit):

General Fund $ 3,612,908
CIP Streets and Roads (91,566)
Total Unassigned $ 3,521,342
Due from
Other Funds
Due to
Other Funds
Governmental Funds
Major Funds:

General Fund $ 139,117 $ - CIP Streets and Roads - 76,536 Total Major Funds 139,117 76,536
Nonmajor Funds:

Special Revenue Funds:

Gas Tax - 62,581
Total Special Revenue Funds - 62,581
Total governmental funds $ 139,117 $ 139,117
66 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

9. INTERFUND TRANSACTIONS, Continued
Advances to and from balances are recorded for interfund loans between funds. The General Fund Advances to and from other funds reported in the General Fund and Water Fund represent interfund loans made by the General Fund to the Water Fund for the River Pointe Water System for capital related financing as follows:
 $100,000 on October 18, 2012
 $51,298 on June 30, 2014
 $131,595 on June 30, 2015
These loans were consolidated into one borrowing on October 1, 2015. The loan has an interest rate equal to the June 30 quarterly Local Agency Investment Fund (LAIF) rate of return plus 1.00%. Repayment of the loan was to be made in fiscal year 2016 if adequate monies were available, otherwise repayment terms are to be reevaluated. The City does not anticipate the River Pointe Water System will have sufficient monies in the near future due to anticipated capital project spending, and hence repayment terms of the loan are pending re-evaluation. Accrued interest on the loan as of June 30, 2024 was $85,596.

Advances to and from other funds reported in the Public Financing Authority Fund and the Water Fund represents an interfund loan made by the Public Financing Authority to the Water Fund to cover cash deficits incurred by the River Pointe Water System in the amount of $36,370. Repayment is to occur when revenues are sufficient to repay the loan. Accrued interest on the loan as of June 30, 2024 was $10,223.

Advances to
Other Funds
Advances From
Other Funds
Governmental Funds
General Fund $ 368,489 $ - Total governmental funds $ 368,489 $ - Proprietary Funds Water Fund $ - $ 415,082
Public Financing Authority Fund 46,593 - Total proprietary funds $ 46,593 $ 415,082 67 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

9. INTERFUND TRANSACTIONS, Continued
Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them, and (2) use unrestricted revenues collected in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations.

10. RISK MANAGEMENT
The City participates with other public entities in a joint venture under a joint powers agreement which established the Central San Joaquin Valley Risk Management Authority (CSJVRMA). The relationship between the City and the CSJVRMA is such that the CSJVRMA is not a component unit of the City for financial reporting purposes.

The City is covered for the first $1,000,000 of each general liability claim and $500,000 of each workers’ compensation claim through the CSJVRMA. The City has the right to receive dividends or the obligation to pay assessments based on a formula which, among other expenses, charges the City’s account for liability losses under the City’s self-insurance retention of $10,000 and workers’ compensation losses under the City’s self-insurance retention of $10,000. The CSJVRMA participates in an excess pool, which provides general liability coverage from $1,000,001 to $29,000,000. The CSJVRMA participates in an excess pool, which provides workers’ compensation coverage from $500,001 to $5,000,000 and also purchases excess insurance above the $5,000,000 to the statutory limit.

The CSJVRMA is a consortium of fifty-four (54) cities in San Joaquin Valley, California. It was established under the provisions of California Government Code Section 6500 et seq. The CSJVRMA is governed by a Board of Directors, which meets three to four times per year, consisting of one member appointed by each member city. The day-to-day business is handled by a management group employed by the CSJVRMA.

Detailed financial information may be obtained from the CSJVRMA.

At the termination of the joint powers agreement and after all claims have been settled, any excess or deficit will be divided among the cities in accordance with the governing documents. There were no excess claims over premiums for any of the City’s risk management programs in fiscal year 2024, and there were no changes to the City’s insurance coverage from the prior year.

Transfers Out:

General
Fund
Impact Fee
Fund
CIP Streets
and Roads
Fund
Non-Major
Gov't Funds
Wastewater
System
Water
System Total
Governmental Funds:

General Fund $ - $ - $ - $ 363,548 - $ $ 1,454,190 $ 1,817,738 Impact Fee Fund - - 18,385 - - 18,385 - CIP Streets and Roads Fund 32,824 - - - - 32,824 - Non-Major Governmental Funds 312,867 862,227 - 5,936 - 1,181,030 - - Enterprise Funds:

Wastewater System 2,500 - - - - 2,500 - Water System 7,500 - - - - 7,500 - Public Financing Authority 200,000 - - - - 200,000 - Total $ 522,867 $ 32,824 $ 862,227 $ 24,321 $ 363,548 $ 1,454,190 $ 3,259,977 Governmental Funds
Transfers In:

Enterprise Fund
68 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM
General Information about the Pension Plans
Plan Descriptions – All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees’ Retirement System (CalPERS). The Plan consists of individual rate plans (benefit tiers) within a safety risk pool (police and fire) and a miscellaneous risk pool (all other). Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous risk pools.

Accordingly, rate plans within the safety or miscellaneous risk pools are not separate plans under GASB Statement No. 68. Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The Agency sponsors three rate plans (two miscellaneous and one closed safety). Benefit provisions under the Plan are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions, and membership information that can be found on the CalPERS’ website.

Benefits Provided – CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full time employment. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of service. The death benefit is one of the following: the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.

The Plan provisions and benefits in effect at June 30, 2024, are summarized as follows:

On January 1, 2013, the Public Employee Pension Reform Act (PEPRA) went into effect. This State law applies to employees hired after January 1, 2013 who are new to PERS. These employees are termed PEPRA members and employees that were enrolled in PERS (without significant separation) prior to January 1, 2013 are now referred to as classic members. PEPRA miscellaneous members will be enrolled in a 2% at 62 plan and PEPRA safety members will be enrolled in a 2.7% at 57 plan. PEPRA members will be required to pay half the normal cost of their plans.

Safety*
Hire date
Prior to
January 1, 2013
On or after
January 1, 2013
Prior to
January 1, 2013
Benefit formula 2.5% @ 55 2% @ 62 2.5% @ 55
Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments monthly for life monthly for life monthly for life Retirement age 50 - 55 52-67 55
Monthly benefits, as a % of eligible compensation 2.0% to 2.5% 1.0% to 2.5% 0.50% Required employee contribution rates 8.000% 6.750% 0.000% Required employer contribution rates 13.340% 7.680% 0.000% Required payment on Unfunded Liability $123,566 $0 $0
* Closed rate plan, no active members
Miscellaneous
69 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, Continued
Contributions – Section 20814(c) of the California Public Employees' Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plan is determined annually on an actuarial basis as of June 30 by CaIPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

The City’s contributions to the Plan for the measurement period ended June 30, 2023 were $258,856.

Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions As of June 30, 2023, the City reported a net pension liability for its proportionate shares of the net pension liability of the Plan as follows:

The City’s net pension liability for the Plans is measured as the proportionate share of the net pension liability. The net pension liability of the Plans is measured as of June 30, 2023, 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, 2022 rolled forward to June 30, 2023 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 Plan as of measurement dates June 30, 2022 and 2023 was as follows:

Proportionate Share of
Net Pension Liability
Miscellaneous Risk Pool $ 2,218,900
Safety Risk Pool - Total Net Pension Liability $ 2,218,900 Proportion - June 30, 2022 0.01756%
Proportion - June 30, 2023 0.01779%
Change - Increase (Decrease) 0.00023%
70 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, Continued
For the year ended June 30, 2024, the City recognized pension expense of $484,747. At June 30, 2024, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
$241,994 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 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:

Actuarial Assumptions - The total pension liabilities in the June 30, 2022 actuarial valuations were determined using the following actuarial assumptions:

Deferred Outflows
of Resources
Deferred Inflows of
Resources
Differences between Expected and Actual Experience $ 119,060 $ 17,165 Changes of Assumptions 133,450 - Differences between Projected and Actual Investment Earnings 352,856 - Differences between Employer's Contributions and Proportionate Share of Contributions - 133,958
Change in Employer's Proportion 136,047 - Pension Contributions Made Subsequent to Measurement Date $241,994 - $ 983,407 $ 151,123 Year Ended
June 30
2025 192,837 $
2026 126,112 2027 261,246
2028 10,095
Investment rate of return 6.90%
Inflation 2.30%
Salary increases Varies by Entry Age and Service
Mortality rate table1 Derived using CalPERS' Membership Data for all Funds Contract COLA up to 2.3% until Purchasing Power
Post Retirement Benefit Increase Protection Allowance Floor on Purchasing Power applies 1 The mortality table was developed based on CalPERS-specific data. The rates incorporate Generational Mortality to capture ongoing mortality 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.
71 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, Continued
Discount Rate - Discount Rate – The discount rate used to measure the total pension liability for the Plan was

6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability. A detailed report testing these projections can be obtained from the CalPERS website.

In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated and, combined with risk estimates, are used to project compound (geometric) returns over the long term. The discount rate used to discount liabilities was formed by the long-term projected portfolio return.

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. (1) An expected inflation of 2.30% used for this period. (2) Figures are based on the 2021-22 Asset Liability Management Study.

Asset Class
New Strategic
Allocation Real Return(1)(2)
Global Equity 30.00% 4.54%
Global Fixed Income 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 Estate 15.00% 3.21%
Leverage -5.00% -0.59%
Total 100.00%
72 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, Continued
Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate The following presents the City’s proportionate share of the net pension liability for the Plan, calculated using the discount rate for Plan, as well as what the City’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:

Pension Plan Fiduciary Net Position -Detailed information about the pension plan's fiduciary net position is available in the separately issued CalPERS financial reports.

Payable to the Pension Plan
At June 30, 2024 the City reported a payable of $0 for outstanding amount of contributions to the pension plan required for the year ended June 30, 2024.

12. COMMITMENTS AND CONTINGENCIES
Litigation
The City is involved in litigation incurred in the normal course of conducting City business. Although the outcome of these lawsuits is not presently determinable, in the opinion of the City’s counsel, the resolution of these matters will not have a material adverse effect on the financial condition of the City.

Commitments
The City had no significant unexpended contractual commitments as of June 30, 2024.

13. PRIOR PERIOD ADJUSTMENTS
The City recorded the following prior period adjustments:
1) Changes to or within the financial reporting entity – The City’s Impact Fee Special Revenue Fund met the criteria for major funds in fiscal year ended June 30, 2024 and was reclassified from the Nonmajor Governmental Funds reporting unit.
1% Decrease
(5.90%)
Current Discount
Rate
(6.90%)
1% Increase
(7.90%)
Net Pension Liability as of
June 30, 2023
Miscellaneous Risk Pool $ 3,058,735 $1,963,347 $1,061,749 Safety Risk Pool 508,166 255,553 49,023
Total $ 3,566,901 $ 2,218,900 $ 1,110,772
73 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

13. PRIOR PERIOD ADJUSTMENTS, Continued
2) Error correction to interfund loans’ balances – The City recorded prior period adjustments to capture interest accrued on interfund loans as of June 30, 2023:
 For the General Fund, advances from other funds was understated by $65,921 and use of money and property was understated by $13,911 in the prior year.  For the Water Fund, advances to other funds was understated by $73,694 and interest expense was understated by $15,670 in the prior year.
 For the Public Financing Authority Fund, advances from other funds was understated by $7,773 and interest revenue was understated by $1,759 in the prior year.  For Governmental Activities, internal balances was understated by $73,694 and use of money and property was understated by $13,911.
 For Business-type Activities, internal balances were overstated by $73,694, and interest expense was understated by $13,911.
3) Error correction to capital assets – The City recorded prior period adjustments for capital assets due to capital projects in progress outlays that were expensed or capitalized incorrectly:
 For the Wastewater Fund, capital assets was understated by $12,000 and materials and operations expense was overstated by $12,000 in the prior year.  For the Water Fund, capital assets was understated by $67,317 and materials and operations expense was overstated by $67,317 in the prior year.
 For Governmental Activities, capital assets was overstated by $185,019 and public works expense was understated by $185,019 in the prior year.
 For Business-type Activities, capital assets was understated by $79,317, wastewater and water expense were overstated by $12,000 and $67,317 in the prior year respectively.

The table below presents the impact on fund balance or net position as a result of these adjustments:

Changes to or Error Correction -
Previously within the Advances to/ Error
Reported Financial from Other Correction - Restated at
at June 30, 2023 Reporting Entity Funds Capital Assets June 30, 2023 Fund Financial
General Fund $ 4,143,461 $ - $ 65,921 2
$ 4,209,382 - $
Impact Fee Special Revenue Fund $ 1,310,120 - $ 1
$ - $ 1,310,120 - $
Non-Major Governmental Funds 2,974,768 $ $ (1,310,120) 1 $ - $ 1,664,648 - $
Wastewater Enterprise Fund 2,601,274 $ $ - $ - $ 12,000 3 $ 2,613,274
Water Enterprise Fund $ 7,781,737 $ - $ (73,694) 2
$ 67,317 3$ 7,775,360
Public Financing
Authority Enterprise Fund $ 780,499 $ - $ 7,773 2
$ 788,272 - $
Governmental-Wide Financial
Governmental Activities $ 23,595,043 $ - $ 65,921 2
$ (185,019) 4$ 23,475,945
Business-type Activities $ 11,163,510 $ - $ (65,921) 2
$ 79,317 3$ 11,176,906
Prior Period Adjustments
74 City of Waterford, California
Notes to Basic Financial Statements
For the year ended June 30, 2024

14. EXCESS EXPENDITURES OVER APPROPRIATIONS
The following funds had excess expenditures over appropriations:

Excesses were a result of actual expenditures exceeding anticipated project expenditures.

Appropriations
Total Expenditures
and Transfers
Excess over
Appropriations
Nonmajor funds:

Gas Tax $ 467,841 $ 489,035 $ (21,194)
CFD 2019-1 Maintenance Service $ 10,100 $ 13,383 $ (3,283) 75 This page intentionally left blank
76 REQUIRED

SUPPLEMENTARY INFORMATION
77 City of Waterford, California
Required Supplementary Information
For the year ended June 30, 2024

1. BUDGETS AND BUDGETARY ACCOUNTING
A. Budgeting Procedures
The City Council establishes budgets for the General Fund and all Special Revenue Funds, except for certain Special Revenue Funds for which expenditures are controlled by grant funding or by assessments received. Budgetary control is legally maintained at the fund level for these funds. Department heads submit budget requests to the City Manager. The City Manager prepares an estimate of revenues and prepares recommendations for the next year’s budget. The preliminary budget may or may not be amended by the City Council and is adopted by resolution by the City Council on or before June 30 in accordance with the municipal code.

The City Council may amend the budget by motion during the fiscal year. Only the Council can authorize transfers between funds and approve inter-fund loans. The City Manager is authorized to transfer budgeted amounts within a fund without formal council action or approval. The City Manager is authorized to increase expenditures in relation to revenues in funds receiving assigned revenues without approval by the City Council.

Expenditures may not legally exceed appropriations at the fund level, which is the legal level of control.

Supplemental appropriations, which increase appropriations, may be made during the fiscal year. There were no material supplemental appropriations made for the fiscal year ended June 30, 2022. Budget information is presented for the General and Special Revenue Funds in the fund financial statements.

The budget information is presented on a basis consistent with generally accepted accounting principles.

Appropriations, except open project appropriations, and unexpended grant appropriations, lapse at the end of each fiscal year.
78 City of Waterford, California
Required Supplementary Information
For the year ended June 30, 2024

1. BUDGETS AND BUDGETARY ACCOUNTING, Continued
B. Budgetary Comparison Schedules
Budgetary Comparison Schedule, General Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes and assessments $ 3,120,465 $ 3,283,465 $ 3,179,552 $ (103,913) Licenses and permits 74,420 74,420 144,791 70,371
Fines and forfeitures 18,800 18,800 21,936 3,136
Intergovernmental 2,044,735 2,124,735 2,130,473 5,738
Use of money and property 29,400 29,400 189,702 160,302 Charges for services 2,900 7,900 6,390 (1,510)
Other revenues 9,582 34,582 59,213 24,631
Total revenues 5,300,302 5,573,302 5,732,057 158,755
EXPENDITURES:

Current:

General government 234,743 240,843 181,123 59,720
Public safety 2,330,860 2,330,860 2,204,855 126,005
Public ways and facilities 302,706 379,206 376,070 3,136 Community development 310,875 355,875 356,363 (488)
Culture and recreation 261,383 318,177 376,627 (58,450) Capital outlay 902,800 1,621,000 1,161,045 459,955
Debt service:

Principal 59,042 59,042 60,653 (1,611)
Interest and fiscal charges 51,515 51,515 48,238 3,277
Total expenditures 4,453,924 5,356,518 4,764,974 591,544

REVENUES OVER (UNDER)
EXPENDITURES 846,378 216,784 967,083 750,299
OTHER FINANCING SOURCES (USES):

Proceeds from sale of capital assets - 99,744 99,803 59 Transfers in 353,754 521,021 522,867 1,846
Transfers out (1,786,585) (1,801,585) (1,817,738) (16,153) Total other financing sources (uses) (1,432,831) (1,180,820) (1,195,068) (14,248) Net change in fund balances $ (586,453) $ (964,036) (227,985) $ 736,051 FUND BALANCES:

Beginning of year, as restated 4,209,382
End of year $ 3,981,397
Budget Amounts
79 City of Waterford, California
Required Supplementary Information
For the year ended June 30, 2024

1. BUDGETS AND BUDGETARY ACCOUNTING, Continued
B. Budgetary Comparison Schedules, Continued
Budgetary Comparison Schedule, Impact Fee Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes and assessments $ 90,000 $ 90,000 $ 3,894 $ (86,106) Use of money and property 3,650 3,650 35,159 31,509
Total revenues 93,650 93,650 39,053 (54,597)
EXPENDITURES:

Capital outlay 250,000 250,000 2,160 247,840
Total expenditures 250,000 250,000 2,160 247,840

REVENUES OVER (UNDER)
EXPENDITURES (156,350) (156,350) 36,893 193,243
OTHER FINANCING SOURCES (USES):

Transfers in - - 32,824 32,824
Transfers out (15,000) (29,821) (18,385) 11,436
Total other financing sources (uses) (15,000) (29,821) 14,439 44,260 Net change in fund balances $ (171,350) $ (186,171) 51,332 $ 237,503 FUND BALANCES:

Beginning of year 1,310,120
End of year $ 1,361,452
Budget Amounts
80 City of Waterford, California
Required Supplementary Information
For the year ended June 30, 2024

2. DEFINED BENEFIT PENSION PLAN
A. Schedule of the City’s Proportionate Share of the Net Pension Liability – Last 10 Years Fiscal year 2024 2023 2022 2021 2020
Measurement date 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019 Plan's Proportion of the Net Pension Liability 0.01779% 0.01756% 0.01253% 0.01534% 0.01482% Plan's Proportionate Share of the Net Pension
Liability $ 2,218,900 $ 2,028,134 $ 677,465 $ 1,669,249 $ 1,518,686 Plan's Covered Payroll $1,170,674 1,174,882 $ $ 1,045,602 $ 1,041,898 $ 1,109,165 Plan's Proportionate Share of the Net Pension
Liability as a Percentage of its Covered Payroll 189.54% 172.62% 64.79% 160.21% 136.92% Plan's Proportionate share of the Fiduciary Net
Position as a Percentage of the Plan's Total
Pension Liability 76.21% 76.68% 88.29% 75.10% 75.26%
Fiscal year 2019 2018 2017 2016 2015
Measurement date 6/30/2018 6/30/2017 6/30/2016 6/30/2015 6/30/2014 Plan's Proportion of the Net Pension Liability 0.01420% 0.01410% 0.01363% 0.01253% 0.01123% Plan's Proportionate Share of the Net Pension
Liability $ 1,368,310 $ 1,398,481 $ 1,179,354 $ 860,166 $ 699,969 Plan's Covered Payroll $ 1,075,104 $ 1,011,690 $ 958,704 $ 851,746 $ 837,390 Plan's Proportionate Share of the Net Pension
Liability as a Percentage of its Covered Payroll 127.27% 138.23% 123.02% 100.99% 83.59% Plan's Proportionate share of the Fiduciary Net
Position as a Percentage of the Plan's Total
Pension Liability 75.26% 73.31% 74.06% 78.40% 79.82%
Notes to Schedule
The CalPERS mortality assumptions were adjusted in fiscal year 2019.

The CalPERS discount rate was increased from 7.5% to 7.65% in fiscal year 2016, and then decreased from 7.65% to 7.15% in fiscal year 2018. The discount rate was decreased to 6.9% in fiscal year 2023. 81 City of Waterford, California
Required Supplementary Information
For the year ended June 30, 2024

2. DEFINED BENEFIT PENSION PLAN, Continued
B. Schedule of Contributions – Last 10 Years
Fiscal year 2024 2023 2022 2021 2020
Actuarially determined contribution $241,994 258,856 $ $ 250,572 $ 246,090 $ 201,672 Contribution in relation to the actuarially determined
contributions 241,994 258,856 250,572 246,090 201,672
Contribution deficiency (excess) $ - $ - $ - $ - $ - Covered payroll $ 1,095,542 $ 1,170,674 $ 1,174,882 $ 1,045,602 $ 1,041,898 Contributions as a percentage of covered payroll 22.09% 22.11% 21.33% 23.54% 19.36% Fiscal year 2019 2018 2017 2016 2015
Actuarially determined contribution $ 186,766 $ 154,072 $ 138,668 $ 124,798 $ 114,483 Contribution in relation to the actuarially determined
contributions 186,766 154,072 138,668 124,798 114,483
Contribution deficiency (excess) $ - $ - $ - $ - $ - Covered payroll $ 1,109,165 $ 1,075,104 $ 1,011,690 $ 958,704 $ 851,746 Contributions as a percentage of covered payroll 16.84% 14.33% 13.71% 13.02% 13.44% Note s to S c he dule
Me thods a nd a ssumptions use d to de te rmine c ontribution ra te s:

Fisc a l ye a r: 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Va lua tion da te : 6/30/2021 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013 6/30/2012 Ac tua ria l c ost
me thod: Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age Amortiza tion me thod: (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) Asse ts va lua tion
me thod:

Ma rke t
Va lue
Ma rke t
Va lue
Ma rke t
Va lue
Ma rke t
Va lue
Ma rke t
Va lue
Ma rke t
Va lue
Ma rke t
Va lue
Ma rke t
Va lue
Ma rke t
Va lue
15 Ye a r
S moothe d
Ma rke t
Me thod
Infla tion: 2.30% 2.50% 2.50% 2.50% 2.63% 2.75% 2.75% 2.75% 2.75% 2.75% S a la ry inc re a se s: (2) (2) (2) (2) (2) (2) (2) (2) (2) (2) Inve stme nt ra te of
re turn:

6.80% 7.00% 7.00% 7.00% 7.25% 7.375% 7.50% 7.50% 7.50% 7.50% Re tire me nt a ge : (3) (3) (3) (3) (3) (3) (3) (3) (3) (3) Morta lity: (4) (4) (4) (4) (4) (4) (4) (4) (4) (4)
(1) Le ve l pe rc e nta ge of pa yroll, c lose d
(2) De pe nding on a ge , se rvic e , a nd type of e mployme nt (3) 50 for a ll pla ns, with the e xc e ption of 52 for Misc e lla ne ous P EP RA 2%@62 (4) Morta lity a ssumptions a re ba se d on morta lity ra te s re sulting from the most re c e nt Ca lP ERS Expe rie nc e S tudy a dopte d by the Ca lP ERS Boa rd.
82 SUPPLEMENTARY INFORMATION
83 This page intentionally left blank
84 CIP Streets and Roads Fund This fund is used to account for all streets and roads construction projects.

BUDGETED MAJOR GOVERNMENTAL FUNDS OTHER THAN

GENERAL FUND AND SPECIAL REVENUE FUNDS
85 City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual CIP Streets and Roads Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental $ 1,897,325 $ 1,912,325 $ 378,174 $ (1,534,151) Total revenues 1,897,325 1,912,325 378,174 (1,534,151)
EXPENDITURES:

Current:

Public ways and facilities 7,000 7,000 19,710 (12,710)
Capital outlay 4,007,437 3,440,377 1,926,816 1,513,561
Total expenditures 4,014,437 3,447,377 1,946,526 1,500,851 REVENUES OVER (UNDER) EXPENDITURES (2,117,112) (1,535,052) (1,568,352) (33,300) OTHER FINANCING SOURCES (USES):

Transfers in 1,344,531 977,090 862,227 (114,863)
Transfers out - - (32,824) (32,824)
Total other financing sources (uses) 1,344,531 977,090 829,403 (147,687) Net change in fund balances $ (772,581) $ (557,962) (738,949) $ (180,987) FUND BALANCES:

Beginning of year 647,383
End of year $ (91,566)
For the year ended June 30, 2024
Budget Amounts
86 Special Revenue accounts for restricted revenues (for specified purposes).

City Capital Projects Fund accounts for construction or acquisition of governmental capital assets (capital outlay).

NON-MAJOR GOVERNMENTAL FUNDS
87 Special Capital Non-Major
Revenue Projects Funds
Funds Funds Total
ASSETS
Cash and investments $ 517,974 $ 99,224 $ 617,198
Receivables:

Intergovernmental 80,133 80,796 160,929
Loan receivable 821,727 - 821,727
Total assets $ 1,419,834 $ 180,020 $ 1,599,854

LIABILITIES

AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities $ 36,524 $ - $ 36,524 Due to other funds 62,581 - 62,581
Total liabilities 99,105 - 99,105
Fund Balances:

Restricted 1,320,729 180,020 1,500,749
Unassigned - - -
Total fund balances 1,320,729 180,020 1,500,749
Total liabilities
and fund balances $ 1,419,834 $ 180,020 $ 1,599,854
City of Waterford
Combining Balance Sheet
Non-Major Governmental Funds
June 30, 2024
Governmental Fund
88 Special Capital Non-Major
Revenue Projects Funds
Funds Funds Total
REVENUES:

Taxes and assessments $ 125,792 $ - $ 125,792
Intergovernmental 1,026,004 527,032 1,553,036
Use of money and property 17,829 - 17,829
Other revenues 34,167 - 34,167
Total revenues 1,203,792 527,032 1,730,824
EXPENDITURES:

Current:

Genreal government - - -
Public ways and facilities 99,505 - 99,505
Police services 29,811 - 29,811
Capital outlay 571,385 14,821 586,206
Debt service:

Principal 16,880 - 16,880
Interest and fiscal charges 5,612 - 5,612
Total expenditures 723,193 14,821 738,014
REVENUES OVER (UNDER) EXPENDITURES 480,599 512,211 992,810 OTHER FINANCING SOURCES (USES):

Transfers in 9,500 14,821 24,321
Transfers out (553,612) (627,418) (1,181,030)
Total other financing sources (uses) (544,112) (612,597) (1,156,709) Net change in fund balances (63,513) (100,386) (163,899) FUND BALANCES:

Beginning of year, as previously stated 2,694,362 280,406 2,974,768 Restatement - change in major funds (1,310,120) - (1,310,120) Beginning of year, as restated 1,384,242 280,406 1,664,648 End of year $ 1,320,729 $ 180,020 $ 1,500,749
Governmental Fund
City of Waterford
Statement of Revenues, Expenditures and Changes in Fund Balances Non-Major Governmental Funds
For the year ended June 30, 2024
89 This page intentionally left blank
90 NON-MAJOR SPECIAL REVENUE FUNDS
Gas Tax accounts for funds received and expended for street maintenance purposes as defined in Sections 2105, 1206, 2107, and 2107.5 of the Streets and Highways Code.

Local Transportation accounts for funds received and expended for streets and roads under the Transportation Development Act.

Community Development used to account for monies received from the US Department of Housing & Urban Development and expended principally for programs and activities to benefit low-income residents through a first time homebuyers program to produce affordable housing and rehabilitate existing residential units and infrastructure improvements in low/moderate income neighborhoods.

Lighting District Accounts for Assessments collected and expended for the City of Waterford Lighting District.

Abandoned Vehicle accounts for funds received and expended for Abandoned Vehicle Abatement.

Lighting and Landscaping accounts for Assessments collected and expended for the City of Waterford Lighting and Landscaping District.

Special Business Pilot Program accounts for the cannabis pilot program revenue.

CFD 2019-1 Maintenance Service accounts for the services, administratives expenditures and other maintenance exenditures for the Community Facility District 91 Gas Local Community Lighting
Tax Transportation Development District
Fund Fund Fund Fund
ASSETS
Cash and investments $ - $ - $ 346,783 $ 127,678
Receivables:

Intergovernmental 62,581 - - 1,775
Loan receivable - - 821,727 -
Total assets $ 62,581 $ - $ 1,168,510 $ 129,453

LIABILITIES

AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities $ - $ - $ 36,524 $ - Due to other funds 62,581 - - -
Total liabilities 62,581 - 36,524 -
Fund Balances:

Restricted - - 1,131,986 129,453
Total fund balances - - 1,131,986 129,453
Total liabilities
and fund balances $ 62,581 $ - $ 1,168,510 $ 129,453
City of Waterford
Combining Balance Sheet
Non-Major Special Revenue Funds
June 30, 2024
Special Revenue Funds
92 Abandoned Lighting Special
Vehicle and Business CFD 2019-1
Abatement Landscaping Pilot Program Maintenance
Fund Fund Fund Service Fund Totals
$ 19,026 $ 5,677 $ 5,682 $ 13,128 $ 517,974
11,558 390 3,829 - 80,133
- - - - 821,727
$ 30,584 $ 6,067 $ 9,511 $ 13,128 $ 1,419,834
$ - $ - $ - $ - $ 36,524
- - - - 62,581
- - - - 99,105
30,584 6,067 9,511 13,128 1,320,729
30,584 6,067 9,511 13,128 1,320,729
$ 30,584 $ 6,067 $ 9,511 $ 13,128 $ 1,419,834
Special Revenue Funds
93 Gas Local Community Lighting
Tax Transportation Development District
Fund Fund Fund Fund
REVENUES:

Taxes and assessments $ - $ - $ - $ 40,239
Intergovernmental 486,521 - 496,956 438
Use of money and property 2,514 - 12,426 1,987
Other revenues - - - -
Total revenues 489,035 - 509,382 42,664
EXPENDITURES:

Current:

General government - - - -
Public ways and facilities - - - 8,167
Police services - - - -
Capital outlay - - 571,385 -
Debt service:

Principal - - - 8,440
Interest and fiscal charges - - - 2,806
Total expenditures - - 571,385 19,413
REVENUES OVER (UNDER) EXPENDITURES 489,035 - (62,003) 23,251 OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out (489,035) - (3,239) (9,500)
Total other financing sources (uses) (489,035) - (3,239) (9,500) Net change in fund balances - - (65,242) 13,751
FUND BALANCES:

Beginning of year, as previously stated - - 1,197,228 115,702 Restatement - change in major funds - - - -
Beginning of year, as restated - - 1,197,228 115,702
End of year $ - $ - $ 1,131,986 $ 129,453
Special Revenue Funds
City of Waterford
Non-Major Special Revenue Funds
For the year ended June 30, 2024
Combining Statement of Revenues, Expenditures and Changes in Fund Balances 94 Abandoned Lighting Special
Vehicle and Business CFD 2019-1
Abatement Landscaping Pilot Program Maintenance Impact Fee Fund Fund Fund Service Fund Fund Totals
$ - $ 67,877 $ - $ 17,676 $ - $ 125,792
42,089 - - - - 1,026,004
402 58 442 - - 17,829
- - 34,167 - - 34,167
42,491 67,935 34,609 17,676 - 1,203,792
- - - - - -
- 83,268 - 8,070 - 99,505
29,811 - - - - 29,811
- - - - - 571,385
- 8,440 - - - 16,880
- 2,806 - - - 5,612
29,811 94,514 - 8,070 - 723,193
12,680 (26,579) 34,609 9,606 - 480,599
- 9,500 - - - 9,500
- - (46,525) (5,313) - (553,612)
- 9,500 (46,525) (5,313) - (544,112)
12,680 (17,079) (11,916) 4,293 - (63,513)
17,904 23,146 21,427 8,835 1,310,120 2,694,362
- - - - (1,310,120) (1,310,120)
17,904 23,146 21,427 8,835 - 1,384,242
$ 30,584 $ 6,067 $ 9,511 $ 13,128 $ - $ 1,320,729
Special Revenue Funds
95 City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Gas Tax Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental $ 487,658 $ 467,841 $ 486,521 $ 18,680 Use of money and property - - 2,514 2,514
Total revenues 487,658 467,841 489,035 21,194
OTHER FINANCING SOURCES (USES):

Transfers out (487,658) (467,841) (489,035) (21,194)
Total other financing sources (uses) (487,658) (467,841) (489,035) (21,194) Net change in fund balances $ - $ - - $ -
FUND BALANCES:

Beginning of year -
End of year $ -
Budget Amounts
For the year ended June 30, 2024
96 City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Local Transportation Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental $ 12,500 $ 12,500 $ - $ (12,500)
Total revenues 12,500 12,500 - (12,500)

REVENUES OVER (UNDER)
EXPENDITURES 12,500 12,500 - (12,500)
OTHER FINANCING SOURCES (USES):

Transfers out (12,500) (12,500) - 12,500
Total other financing sources (uses) (12,500) (12,500) - 12,500 Net change in fund balances $ - $ - - $ -
FUND BALANCES:

Beginning of year -
End of year $ -
For the year ended June 30, 2024
Budget Amounts
97 City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Community Development Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental $ 500,000 $ 592,616 $ 496,956 $ (95,660) Use of money and property 1,500 1,500 12,426 10,926
Total revenues 501,500 594,116 509,382 (84,734)
EXPENDITURES:

Capital outlay 500,000 600,000 571,385 28,615
Total expenditures 500,000 600,000 571,385 28,615

REVENUES OVER (UNDER)
EXPENDITURES 1,500 (5,884) (62,003) (56,119)
OTHER FINANCING SOURCES (USES):

Transfers out - - (3,239) (3,239)
Total other financing sources (uses) - - (3,239) (3,239) Net change in fund balances $ 1,500 $ (5,884) (65,242) $ (59,358) FUND BALANCES:

Beginning of year 1,197,228
End of year $ 1,131,986
For the year ended June 30, 2024
Budget Amounts
98 City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Lighting District Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes and assessments $ 38,750 $ 38,750 $ 40,239 $ 1,489 Intergovernmental 100 100 438 338
Use of money and property 425 425 1,987 1,562
Total revenues 39,275 39,275 42,664 3,389
EXPENDITURES:

Current:

Public ways and facilities 13,400 13,400 8,167 5,233
Debt service:

Principal 8,440 8,440 8,440 -
Interest and fiscal charges 2,806 2,806 2,806 -
Total expenditures 24,646 24,646 19,413 5,233
Net change in fund balances $ 5,129 $ 5,129 13,751 $ 8,622 FUND BALANCES:

Beginning of year 115,702
End of year $ 129,453
For the year ended June 30, 2024
Budget Amounts
99 City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Abandoned Vehicle Abatement Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental $ 48,000 $ 48,000 $ 42,089 $ (5,911)
Use of money and property 200 200 402 202
Total revenues 48,200 48,200 42,491 (5,709)
EXPENDITURES:

Current:

Police services 36,750 36,750 29,811 6,939
Total expenditures 36,750 36,750 29,811 6,939
Net change in fund balances $ 11,450 $ 11,450 12,680 $ 1,230 FUND BALANCES:

Beginning of year 17,904
End of year $ 30,584
For the year ended June 30, 2024
Budget Amounts
100
City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Lighting and Landscaping Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes and assessments $ 72,000 $ 72,000 $ 67,877 $ (4,123) Use of money and property - - 58 58
Total revenues 72,000 72,000 67,935 (4,065)
EXPENDITURES:

Current:

Public ways and facilities 85,565 85,565 83,268 2,297
Debt service:

Principal 8,440 8,440 8,440 -
Interest and fiscal charges 2,806 2,806 2,806 -
Total expenditures 96,811 96,811 94,514 2,297

REVENUES OVER (UNDER)
EXPENDITURES (24,811) (24,811) (26,579) (1,768)
OTHER FINANCING SOURCES (USES):

Transfers in 9,500 9,500 9,500 -
Total other financing sources (uses) 9,500 9,500 9,500 - Net change in fund balances $ (15,311) $ (15,311) (17,079) $ (1,768) FUND BALANCES:

Beginning of year 23,146
End of year $ 6,067
For the year ended June 30, 2024
Budget Amounts
101
City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Special Business Pilot Program
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Use of money and property $ 500 $ 500 $ 442 $ (58)
Other revenues 64,756 29,756 34,167 4,411
Total revenues 65,256 30,256 34,609 4,353
EXPENDITURES:

Current:

General government 2,000 2,000 - 2,000
Total expenditures 2,000 2,000 - 2,000

REVENUES OVER (UNDER)
EXPENDITURES 63,256 28,256 34,609 6,353
OTHER FINANCING SOURCES (USES):

Transfers out (46,525) (46,525) (46,525) -
Total other financing sources (uses) (46,525) (46,525) (46,525) - Net change in fund balances $ 16,731 $ (18,269) (11,916) $ 6,353 FUND BALANCES:

Beginning of year 21,427
End of year $ 9,511
For the year ended June 30, 2024
Budget Amounts
102
City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual CFD 2019-1 Maintenance Service Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes and assessments $ 17,737 $ 17,737 $ 17,676 $ (61) Total revenues 17,737 17,737 17,676 (61)
EXPENDITURES:

Current:

Public ways and facilities 10,100 10,100 8,070 2,030
Total expenditures 10,100 10,100 8,070 2,030

REVENUES OVER (UNDER)
EXPENDITURES 7,637 7,637 9,606 1,969
OTHER FINANCING SOURCES (USES):

Transfers out - - (5,313) (5,313)
Total other financing sources (uses) - - (5,313) (5,313) Net change in fund balances $ 7,637 $ 7,637 4,293 $ (3,344) FUND BALANCES:

Beginning of year 8,835
End of year $ 13,128
For the year ended June 30, 2024
Budget Amounts
103
This page intentionally left blank
104

NON-MAJOR CAPITAL PROJECTS FUNDS
CIP Streets Measure L Account for streets and roads projects funded by Stanislaus County Measure L. A 25 year 1/2 cent sales tax measure enacted in 2017-2018 CIP Parks is used to account for all parks related construction projects in 2017-2018. 105
City of Waterford
Combining Balance Sheet
Non-Major Capital Projects Funds
June 30, 2024
CIP
Measure L
CIP
Parks Totals
ASSETS
Cash and investments $ 99,224 $ - $ 99,224
Receivables:

Intergovernmental 80,796 - 80,796
Total assets $ 180,020 $ - $ 180,020

LIABILITIES

AND FUND BALANCES
Liabilities:

Accounts payable $ - $ - $ -
Total liabilities - - -
Fund Balances:

Restricted 180,020 - 180,020
Total fund balances 180,020 - 180,020
Total liabilities
and fund balances $ 180,020 $ - $ 180,020
106
Combining Statement of Revenues, Expenditures and Changes in Fund Balances CIP
Measure L
CIP
Parks Totals
REVENUES:

Intergovernmental $ 490,329 $ 36,703 $ 527,032
Total revenues 490,329 36,703 527,032
EXPENDITURES:

Capital outlay - 14,821 14,821
Total expenditures - 14,821 14,821
REVENUES OVER (UNDER) EXPENDITURES 490,329 21,882 512,211 OTHER FINANCING SOURCES (USES):

Transfers in - 14,821 14,821
Transfers out (627,418) - (627,418)
Total other financing sources (uses) (627,418) 14,821 (612,597) Net change in fund balances (137,089) 36,703 (100,386)
FUND BALANCES:

Beginning of year 317,109 (36,703) 280,406
End of year $ 180,020 $ - $ 180,020
City of Waterford
Non-Major Capital Projects Funds
For the year ended June 30, 2024
107
City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual CIP Streets Measure L Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental $ 570,780 $ 570,780 $ 490,329 $ (80,451) Use of money and property - - - -
Total revenues 570,780 570,780 490,329 (80,451)
EXPENDITURES:

Current:

Capital outlay - - - -
Total expenditures - - - -
REVENUES OVER (UNDER) EXPENDITURES 570,780 570,780 490,329 (80,451) OTHER FINANCING SOURCES (USES):

Transfers out - (646,745) (627,418) 19,327
Total other financing sources (uses) - (646,745) (627,418) 19,327 Net change in fund balances $ 570,780 $ (75,965) (137,089) $ (61,124) FUND BALANCES:

Beginning of year 317,109
End of year $ 180,020
For the year ended June 30, 2024
Budget Amounts
108
City of Waterford
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual CIP Parks Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental $ - $ 36,703 $ 36,703 $ -
Total revenues - 36,703 36,703 -
EXPENDITURES:

Capital outlay - 14,821 14,821 -
Total expenditures - 14,821 14,821 -
REVENUES OVER (UNDER) EXPENDITURES - 21,882 21,882 -
OTHER FINANCING SOURCES (USES):

Transfers in - 14,821 14,821 -
Total other financing sources (uses) - 14,821 14,821 -
Net change in fund balances $ - $ 36,703 36,703 $ -
FUND BALANCES:

Beginning of year (36,703)
End of year $ -
For the year ended June 30, 2024
Budget Amounts
109
City of
Waterford
Waterford, California
Abandoned Vehicle Abatement
Program Financial Statements
For The Year Ended June 30, 2024

City of Waterford Abandoned Vehicle Abatement Program
Financial Statements
For the year ended June 30, 2024
Table of Contents
Page
Independent Auditor’s Report ............................................................................................................................... 1 Financial Statements:

Governmental Fund Balance Sheet .................................................................................................................... 7 Statement of Governmental Fund Revenues, Expenditures, and Changes in Fund Balance ................................................................................................................................. 8 Notes to Financial Statements ........................................................................................................................... 11 Supplementary Information ................................................................................................................................. 17 Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ............................................................................................................................................. 19 This page intentionally left blank
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and City Council
of the City of Waterford
Waterford, California
Opinions
We have audited the accompanying financial statements of the Abandoned Vehicle Abatement Program (Program) of the City of Waterford, California, as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise Program’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the Program, as of June 30, 2024, and the respective changes in financial position 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 Authority 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 The Program’s 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 Authority’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. 1 To the Honorable Mayor and City Council
Of the City of Waterford
Waterford, California