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Agenda packet

Wildomar City Council
April 8, 2026

Document
Agenda packet
Meeting
April 8, 2026
Body
Wildomar City Council
Pages
8
Original file
96.7 MB
Text extracted from the city's file for reading and search. Open the original on d3n9y02raazwpg.cloudfront.net. That file is the official record.

CITY COUNCIL MEETING

CEMETERY DISTRICT BOARD

AGENDA

WEDNESDAY, APRIL
8, 2026
Closed Session: 4:30 PM | Regular Session 6:00 PM

COUNCIL CHAMBERS 23873 CLINTON KEITH ROAD SUITE 106
WILDOMAR, CA 92595
Carlos Marquez - Mayor | District 1
Dustin Nigg - Mayor Pro Tem | District 2
Ashlee DePhillippo - Council Member| District 5
Bridgette Moore - Council Member | District 4
Joseph Morabito - Council Member | District 3
Chris Mann, City Manager
Thomas D. Jex, City Attorney
The City of Wildomar will be a Safe and Active Community with Responsible Growth and Quality Infrastructure while keeping a Hometown Feel

CITY COUNCIL MEETING
1 CALL TO ORDER – CLOSED SESSION - 4:30 P.M.

ROLL CALL

PUBLIC COMMENTS

CLOSED SESSION

CLOSED SESSION

Presented By: Thomas D Jex, City Attorney
RECOMMENDATION:

1. The City Council will meet in closed session pursuant to the provisions of Government Code Section 54956.8 to confer with legal counsel and conference with real property negotiators as follows:

Properties: 20580 Palomar Street, Wildomar, CA 92595, APN 368-030-057, and Parcel adjacent to and immediately north of 20580 Palomar Street, Wildomar, CA 92595 and West of Mission Trail, APN 368-030-043
Agency negotiators: City Manager Chris Mann
Negotiating parties: Hoa V. Pham and Hong-Van Thi Pham
Under negotiation: Instruction regarding price and terms of payment.

1. The City Council will meet in closed session pursuant to the provisions of Government Code Section 54956.8 to confer with legal counsel and conference with real property negotiators as follows:

Property: 33767 Raciti Road, Wildomar, CA 92595, APN: 366-320-050 Agency negotiators: City Manager Chris Mann
Negotiating parties: Mark Lamont Smith
Under negotiation: Instruction regarding price and terms of payment.

2. The City Council will meet in closed session pursuant to the provisions of Government Code Section 54956.9 (d)(1) to confer with legal counsel with regard to the following matters of pending litigation:

a. In the Matter of the Appeal of Misty Cheng and City of Wildomar v. Board of Administration California Public Employees’ Retirement System; Case No. 2024-0358

b. Angie Garcia v. City of Wildomar, et al; Case No. CVME2517512

CALL TO ORDER – OPEN SESSION - 6:00 P.M.

The City Council serves as the Board of the Wildomar Cemetery District. This meeting is convened as a meeting of both bodies.

ROLL CALL
Council discussion and determination on whether an absence is excused.

CITY COUNCIL MEETING
2 1.

CONSENT CALENDAR
All matters listed under the Consent Calendar are considered routine and will be enacted by one roll call vote. There will be no separate discussion of these items unless members of the City Council, the Public, or Staff request to have specific items removed from the Consent Calendar for separate discussion and/or action.

1.1 City Council/ Cemetery District Board Minutes - March 11, 2026 - Regular Meeting

Presented By: Janet Morales Garcia
, City Clerk's Office
RECOMMENDATION:

Approve the minutes as presented.

FLAG SALUTE

CLOSED SESSION REPORT

PRESENTATIONS

1. Proclamation: Eagle Scout Logan John Stuart

2. Proclamation: DMV/Donate Life Month

3. Introduction: Fire Chief Robert Fish and Battalion Chief Shawn Burris

4. Legislative Update: Cal Cities - Jesse Ramirez

5. Other Presentations

DEPARTMENT REPORTS
Community Development Department & Development Update

Presented By: Robert Flores, Community Development Department RECOMMENDATION:

Receive and file the update.

PUBLIC COMMENTS
This is the time when the City Council receives general public comments regarding any items or matters within the jurisdiction that
do not
appear on the agenda. Per the Brown Act, City Council members are not allowed to respond to public comments not on the agenda. If you would like to be contacted, please leave your email or contact number on the public comment card. Public Comments are limited to 3 minutes or such other time as the Council may provide.

APPROVAL OF THE AGENDA AS PRESENTED
The City Council to approve the agenda as it is herein presented, or, if it is the desire of the City Council, the agenda can be reordered, added to, or have items tabled at this time.

CITY COUNCIL MEETING
3 1.2
March 2026 City Warrant Register

Presented By: Adam Jantz
, Finance Department
RECOMMENDATION:

Approve the following:

For Fiscal Year 2025/2026:

1. Warrant Register dated 3-2-2026 in the amount of $7,280.92.

2. Warrant Register dated 3-5-2026 in the amount of $146,338.45.

3. Warrant Register dated 3-12-2026 in the amount of $1,947,124.19.

4. Warrant Register dated 3-19-2026 in the amount of $198,914.65.

5. Warrant Register dated 3-26-2026 in the amount of $83,751.75.

6. Warrant Register dated 3-31-2026 in the amount of $489.35.

7. Wire Transfer Register dated 3-31-2026 in the amount of $57,291.98.

8. Payroll Register dated 3-31-2026 in the amount of $515,879.45.

1.3 March 2026 Cemetery Warrant Register

Presented By: Adam Jantz
, Finance Department
RECOMMENDATION:

Approve the following:

For Fiscal Year 2025/2026

1. Warrant Register dated 3-5-2026 in the amount of $2,017.55.

2. Warrant Register dated 3-12-2026 in the amount of $2,413.06.

3. Warrant Register dated 3-19-2026 in the amount of $16,296.09.

4. Warrant Register dated 3-31-2026 in the amount of $455.64.

1.4 February 2026 City Treasury Report

Presented By: Adam Jantz
, Finance Department
RECOMMENDATION:

Approve the City Treasury Report for February 2026.

1.5 February 2026 Cemetery Treasury Report

Presented By: Adam Jantz
, Finance Department
RECOMMENDATION:

Approve the Treasury Report for February 2026.

CITY COUNCIL MEETING
4 1.6
Second Reading and Adoption of Ordinance No. 262 adding a chapter under Title 10 (Vehicles and Traffic) of the Municipal Code relating to bicycles and e-conveyances, including E-Bikes.

Location: Citywide
Presented By: Abdu Lachgar
, Community Development Department
RECOMMENDATION:

1. Determine that Municipal Code Amendment (DCA) No. 2026-01, and its adopting Ordinance No. 262, is exempt under the California Environmental Quality Act (CEQA) and CEQA Guidelines, pursuant to the common sense exemption, Section 15061(b)(3) of the CEQA Guidelines.

2. Conduct a second reading by title only and adopt Ordinance No. 262 amending Title 10 (Vehicles and Traffic) of the Wildomar Municipal Code, as entitled:

ORDINANCE NO. 262

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF WILDOMAR, CALIFORNIA, ADDING CHAPTER 10.56 (BIKES, E-BIKES, E-SCOOTERS AND E-SKATEBOARDS) TO TITLE 10 (VEHICLES AND TRAFFIC) OF THE

WILDOMAR MUNICIPAL CODE RELATING TO BICYCLES, ELECTRIC

BICYCLES, ELECTRIC SCOOTERS AND ELECTRIC SKATEBOARDS

1.7 Acceptance of FY2024-25 Annual Comprehensive Financial Report and Cemetery District Financial Statement

Presented By: Adam Jantz
, Finance Department
RECOMMENDATION:

Receive and file the FY2024-25 Annual Comprehensive Financial Report and Cemetery District Financial Statement.

1.8 Updating the City's Conflict of Interest Code

Presented By: Janet Morales Garcia
, City Clerk's Office
RECOMMENDATION:

Adopt a Resolution entitled:

RESOLUTION NO. 2026 - ___

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR, CALIFORNIA, UPDATING THE CITY’S CURRENT CONFLICT OF INTEREST

CODE SET FORTH BY THE CALIFORNIA STATE FAIR POLITICAL PRACTICES

COMMISSION FOR ELECTED OFFICIALS, BOARD AND COMMISSION

MEMBERS, AND EMPLOYEES OF THE CITY OF WILDOMAR

CITY COUNCIL MEETING
5 1.9
TUMF Agreement Amendment No. 4 for the Palomar St. Widening Project

Location: Palomar Street Between Mission Trail and Jefferson Avenue Presented By: Jason Farag
, Public Works/ Engineering Department
RECOMMENDATION:

Authorize the City Manager to execute a Fourth TUMF Agreement Amendment with the Western Riverside Council of Governments (WRCOG) for the Palomar Street Widening Project.

1.10 Resolution Authorizing the Citys Participation in a National Opioid Litigation Settlement: In re: National Prescription Opiate Litigation, MDL No. 2804, Case No. 1:17-md-2804 (Multi-District Litigation)

Presented By: Thomas D Jex
, City Attorney
RECOMMENDATION:

Adopt a Resolution entitled:

RESOLUTION NO. 2026 - ____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR APPROVING THE CITY’S PARTICIPATION IN A NATIONAL LITIGATION SETTLEMENT WITH ASSOCIATED PHARMACIES, INC., AMERICAN

ASSOCIATED PHARMACIES, J M SMITH CORPORATION, LOUISIANA WHOLESALE DRUG COMPANY, MORRIS & DICKINSON CO., NORTH
CAROLINA MUTUAL WHOLESALE DRUG COMPANY, INC., AND UNITED NATURAL FOODS, INC., AUTHORIZING THE CITY MANAGER TO TAKE ALL

NECESSARY ACTIONS FOR THE SETTLEMENT, DIRECTING PAYMENT OF

SETTLEMENT FUNDS TO RIVERSIDE COUNTY, AND APPROVING SUCH

ACTIONS FOR FUTURE RELATED SETTLEMENTS

1.11 Parcel Map No. 36612 (Westpark Promenade) Subdivision Improvement Agreement

Location: North of Catt Rd., East of I-15, and South of Depasquale Rd.

Presented By: Carlos Geronimo
, Public Works/ Engineering Department
RECOMMENDATION:

1. Authorize the City Manager to execute a Subdivision Improvement Agreement with Tri Pointe Homes IE-SD, Inc. for Parcel Map 36612 (Westpark Promenade)

2. Authorize the Public Works Director/City Engineer to release all the securities associated with the prior Subdivision Improvement Agreement between the City and CRP/CWR Westpark Project, LLC

CITY COUNCIL MEETING
6 1.12
Tract Map No. 37156 Camelia Townhomes (KB Home) - Final Map and Subdivision Improvement Agreement

Location: East side of Existing Palomar St. alignment, North of Washington Ave.

Presented By: Carlos Geronimo
, Public Works/ Engineering Department
RECOMMENDATION:

1. Adopt a Resolution entitled:

RESOLUTION NO. 2026 - _____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR,

CALIFORNIA, APPROVING THE FINAL MAP FOR TENTATIVE TRACT MAP 37156 AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE

SUBDIVISION IMPROVEMENT AGREEMENT

2. Direct the City Clerk to not accept the offer of dedication for Lot F on the Final Map for Tract No. 37156.

1.13 Measure Z Oversight Advisory Committee Appointments

Presented By: Janet Morales Garcia
, City Clerk's Office
RECOMMENDATION:

The Finance Committee recommends that the City Council appoint Zia Hotak, Dennis Rowe, and Timothy Underdown to the Measure Z Oversight Advisory Committee for terms ending January 2028.

3. GENERAL BUSINESS

3.1 Wildomar Cemetery Master Plan Update: Veterans & First Responders Memorial Stakeholder Engagement Workshop

Location: Wildomar Cemetery (21400 Palomar Street)
Presented By: Daniel Torres
, Public Works/ Engineering Department
RECOMMENDATION:

Discuss the proposed Veterans and First Responders Memorial as part of the Wildomar Cemetery Master Plan Update and provide comments and feedback on the design elements, location, and overall vision of the memorial.

3.2 FY2025-26 3rd Quarter Budget Report

Presented By: Adam Jantz
, Finance Department
RECOMMENDATION:

Review and approve the Fiscal Year 2025-26 3rd Quarter Budget Report, and adopt a Resolution entitled:

RESOLUTION NO. 2026 - _____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR, CALIFORNIA, AUTHORIZING ADJUSTMENTS TO THE FY2025-26 BUDGETED

REVENUES AND EXPENSES

CITY COUNCIL MEETING
7 2.

PUBLIC HEARINGS

2.1 Public Hearing for the Adoption of Revised Transportation Uniform Mitigation Fee Schedule and Amending Ordinance No. 249

Presented By: Adam Jantz
, Finance Department
RECOMMENDATION:

1. Review and adopt the first reading of an Ordinance entitled:

ORDINANCE NO. _______
AN ORDINANCE OF THE CITY OF WILDOMAR AMENDING ORDINANCE NO. 249 TO ESTABLISH CONSTRUCTION COST INDEX ADJUSTMENTS TO THE

WESTERN RIVERSIDE COUNTY TRANSPORTATION UNIFORM MITIGATION

FEE (TUMF) PROGRAM

2. Review and adopt a Resolution entitled:

RESOLUTION NO. 2026 - _______

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR

AMENDING THE APPLICABLE TRANSPORTATION UNIFORM MITIGATION

FEE (TUMF) APPLICABLE TO ALL DEVELOPMENTS IN THE CITY OF

WILDOMAR

2.2 City of Wildomar Vacancy Report and Recruitment and Retention Efforts

Presented By: Emily Wolf
, Human Resources and Risk Department
RECOMMENDATION:

Receive and file the report.

COUNCIL COMMUNICATIONS
This is the opportunity for the City Council to report on city and regional committees and community events.

CITY MANAGER REPORT

FUTURE AGENDA ITEMS

ADJOURN THE MEETING

CITY COUNCIL MEETING
8 PARTICIPATION

NOTICE
Meetings may be live-streamed, photographed and/or videotaped. Participation at the meeting constitutes consent by members of the public to the City’s and any third party’s use in any media, without compensation or further notice, of audio, video, and/or pictures of meeting attendees.

MEETINGS
Regular City Council/Cemetery District Board Meetings are generally held on the 2nd Wednesday of every month at 6:00 P.M. The City Council adopts the meeting schedule annually.

MEETING SCHEDULE FOR 2026
January 14th | February 10th | March 11th | April 8th | May 13th | June 10th | July 8th | August 12th | September 9th | October 14th | November 18th | December 9th

LOCATION
City Council Chambers, 23873 Clinton Keith Road, Ste. 106, Wildomar, CA 92595.

VIEW THE MEETING

1. In Person
| City Council Chambers 23873 Clinton Keith Road Ste. 106 Wildomar, CA 92595

2. Watch Live
wildomar.gov/129/Agendas-Videos-Watch-Live
or stream on
YouTube.com/@CityofWildomar

3. Cable TV
| Frontier Channel 36 or AT&T Channel 99

PARTICIPATE IN THE MEETING

1. Fill out the speaker card located on the table near the entrance of the chambers.

2. Submit the speaker card to the City Clerk in the basket located at the front of the chambers.

3. When the City Clerk calls your name, please come up to the front podium.

During Public Comment not on the agenda and after each Agenda Item, the Mayor will announce Public Comment. Public Comments are limited to (3) minutes or such other time as the City Council may provide. Per the Brown Act, City Council are not allowed to respond to public comments not on the agenda. If you would like to be contacted, please leave your email or contact number on the public comment card.

ACCOMMODATIONS
In compliance with the Americans with Disabilities Act, if requested, the agenda and backup materials will be made available in appropriate alternative formats to persons with a disability, as required by Section 202 of the Americans With Disabilities Act of 1990 (42 U.S.C. Sec. 12132), and the federal rules and regulations adopted in implementation thereof. Any person that requires a disability-related modification or accommodation, including auxiliary aids or services, in order to participate in the public meeting, may request such modification, accommodation, aid or service by contacting the City Clerk either in person or by phone at 951-677-7751 x210, no later than 10:00 a.m. on the day preceding the scheduled meeting.

REPORTS
All agenda items and reports are available for review at City Hall, 23873 Clinton Keith Road and on the City’s website at the following address: Wildomar.gov. Any writings or documents provided to a majority of the City Council/ Cemetery District Board regarding any item on this agenda (other than writings legally exempt from public disclosure) will be made available by appointment for public inspection at City Hall during regular business hours.

CITY COUNCIL MEETING
9 AFFIDAVIT OF POSTING
I, Janet Morales Garcia, Wildomar City Clerk, do certify that at least 72 hours prior to the meeting, a true and correct copy of this agenda was posted at Wildomar City Hall, 23873 Clinton Keith Road; U.S. Post Office, 21392 Palomar Street; Wildomar Library, 34303 Mission Trail Blvd; and on the City’s website at Wildomar.gov.

Janet Morales Garcia, CMC
City Clerk
Dated: April 2, 2026

CITY COUNCIL MEETING
10 CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

DEPARTMENT REPORT
Meeting Date: April
8, 2026
SUBJECT:

Community Development Department & Development Update
SUBMITTED BY:

Robert Flores, Community Development Director
PREPARED BY:

Joelle Perales, Department Fellow

ACTION:

Receive and file the update.

ATTACHMENTS:

CD Update CC 4.8.2025 FINAL.pptx
11 Department &
Development Update
City Council
April 8, 2026
Community
Development
12 Department Update
Community Development
13 CD Department Update
Director
Robert Flores
Building &
Safety
Scott Burns
Planning
Abdu Lachgar
Code Enforcement /
Emergency Management
Raul Berroteran
Fire Marshal
Paul Leach
Fellow
Joelle Perales
Building
5 Planning
2 Code/EM
5 CD
3 15
14 Public Counter Services
Counter Visits / Calls Jan
2026
Feb
2026
March
2026
2026
Totals
2025
Totals
2024
Totals
Total Customer Contacts 138 185 184 507 1,518 -
15 Department of Building & Safety:

Jan
2026
Feb
2026
March
2026
2026
Totals
2024
Totals
Permits
Finalized
61 14 83 158 1,387
Permits Issued 78 59 164 301 1,
Permits Applied
for
115 91 154 360 1,461
Inspections 773 557 880 2,210 18,179
Project
Valuation
$1.9
mil.
$1.7
Mil.
$3.8
Mil.
$7.4
Mil.
$118.9 Mil
16 Department of Building & Safety:

Enforcement Actions
Jan
2026
Feb
2026
March
2026
1st Quarter
Totals
Notice of Illegal
Construction
3 4 10 17
Stop Work
Notices
2 5 3 10
Notice of Utility
Disconnection
1 3 1 5
Notice to Vacate 1 2 0 3
17 Department of Planning:
6 9
2 6
Project Applications Minor Applications
Submitted Approved
•Successful planning commissioner academy in March
•1 st Reading of E-Bike Ordinance approved by Council
106
Completed Building Permit Planning
Reviews
18 Department of Code Enforcement &
Emergency Management:
31 19 19 18 18
Construction
without permit
Visual Blight Zoning Violations Accumulation of
rubbish
Abandoned/
inoperative
vehicles
Most Frequently Reported Complaints
19 Department of Code Enforcement &
Emergency Management:

Homeless Outreach Contacts:
•January: 9
•February: 18
•March: 13
Total Cases:
137
Closed
cases: 77 21
116
Proactive Cases Reactive cases
509
Inspections Completed
401
Notices Issued
20 1st Quarter Achievements
Symbium became effective March 1st
for all solar panel applications
Soft Launch of City-
Owned Pre-
Approved ADU
Architectural Plans.
21 Code Compliance:
22 Code Compliance:
23 Code Compliance:
24 Entitlements and Permits
Development
Project
Update
25 Tres
Lagos
26 CAMELIA
27 BELL
RANCH
28 WILDOMAR

CROSSROADS
29 MARRIOTT
30 WALMART
31 Thank you! Questions?
32 CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.1

Meeting Date: April
8, 2026
SUBJECT:

City Council/ Cemetery District Board Minutes - March 11, 2026 - Regular Meeting
SUBMITTED BY:

Janet Morales Garcia, City Clerk

ACTION:

Approve the minutes as presented.

ATTACHMENTS:

1. 03-11-2026-minutes
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41 CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.2

Meeting Date: April
8, 2026
SUBJECT:

March 2026 City Warrant Register
SUBMITTED BY:

Nicholas Neidiffer, Accountant II
PREPARED BY:

Nicholas Neidiffer, Accountant II

ACTION:

Approve the following:

For Fiscal Year 2025/2026:

1. Warrant Register dated 3-2-2026 in the amount of $7,280.92.

2. Warrant Register dated 3-5-2026 in the amount of $146,338.45.

3. Warrant Register dated 3-12-2026 in the amount of $1,947,124.19.

4. Warrant Register dated 3-19-2026 in the amount of $198,914.65.

5. Warrant Register dated 3-26-2026 in the amount of $83,751.75.

6. Warrant Register dated 3-31-2026 in the amount of $489.35.

7. Wire Transfer Register dated 3-31-2026 in the amount of $57,291.98.

8. Payroll Register dated 3-31-2026 in the amount of $515,879.45.

SUMMARY:

March 2026 City Warrant Register

DISCUSSION:

The City of Wildomar requires that the City Council audit payments of demands and direct the City Manager to issue checks. The Warrant and Payroll Registers are submitted for approval.

FISCAL IMPACT:

These Warrant, Wire Transfer and Payroll Registers will have a budgetary impact in the amount and fiscal year noted in the recommendation section of this report. These costs are included in the Fiscal Year 2025/26 Budget.

ATTACHMENTS:

March 2026 City Warrant Register.pdf
42 Transaction Name Bill Date Payment Date Amount (Credit) Vendor Memo Bill #714969 3/2/2026 3/2/2026 15.77

STATE OF CALIFORNIA, EMPLOYEE
DEVELOPMENT DEPARTMENT State Withholding 2/1/26-2/28/26 Bill #294536 3/2/2026 3/2/2026 5,934.61 THE STANDARD INSURANCE COMPANYFebruary 2026 STD, LTD, AD&D Bill #992306 3/2/2026 3/2/2026 1,330.54 BASIC BENEFITS Basic FSA Payment PPE: 2/21/26 Bill #34977 1/31/2026 3/5/2026 33.75 ARCHITERRA DESIGN GROUP Plan Check Review - January, 2026 Bill #179569236-0001,178984856-
0001,179009894-0001, 2/3/2026 3/5/2026 4,485.82 SUNBELT RENTALS, INC. Public Works Road Maintenance - Equipment Rental Bill #2544 2/5/2026 3/5/2026 425.00 BEE GUY TRAVIS Public Works Road Maintenance - Hive Relocation Bill #179704295-0001 2/5/2026 3/5/2026 1,078.49 SUNBELT RENTALS, INC. Public Works Road Maintenance - Skid Steer Rental Bill #179704609-0001 2/6/2026 3/5/2026 814.47 SUNBELT RENTALS, INC. Public Works Road Maintenance - Roller Rental Bill #020626 2/6/2026 3/5/2026 3,533.76 MATTHEW KRONQUIST Developer Deposit Refund for PA#23-0037 PLN-24-0064 Bill #WILD-01.6 - 17 1/31/2026 3/5/2026 682.50 PLACEWORKS CIP 062-1, 27-Acre Park Bill #231641123 1/31/2026 3/5/2026 1,480.75 ST. FRANCIS ELECTRIC Routine Traffic Signal Maint - January 2026 Bill #1733-GQJR-7MYQ 2/26/2026 3/5/2026 200.16 AMAZON CAPITAL SERVICES Departmental Supplies Bill #1VXX-CXP7-6R3F 2/26/2026 3/5/2026 110.88 AMAZON CAPITAL SERVICES Desk Supplies Bill #231641127 1/31/2026 3/5/2026 4,721.72 ST. FRANCIS ELECTRIC CIP 028-2 Palomar Widening, CIP 067-1, Cemetery
Frontage - Jan 2026
Bill #231641126 1/31/2026 3/5/2026 2,150.55 ST. FRANCIS ELECTRIC Traffic Signals Extra Work - Developer Related Oak Springs Ranch II
Bill #2026-04-2026-36 1/31/2026 3/5/2026 40,970.00 TKE ENGINEERING INC Professional Development Services for Projects Bill #2147 1/15/2026 3/5/2026 7,000.00 SPICER CONSULTING GROUP CFD 2025-S Annex 3 (Bell Ranch) 50% Bill #2145 1/15/2026 3/5/2026 12,500.00 SPICER CONSULTING GROUP CFD 2025-1 (Camelia) Formation, 100% January 2026 Bill #2146 1/15/2026 3/5/2026 7,000.00 SPICER CONSULTING GROUP CFD 2025-S Annex 2 Crossroads-Com, (50%)- January
2026
Bill #51982141 12/15/2025 3/5/2026 1,004.31 OTIS ELEVATOR COMPANY Maintenance Service from 1/01/26-3/31/26 Bill #2020113720 2/4/2026 3/5/2026 9,659.80 ABSOLUTE INTERNATIONAL, SECURITY INC01/01/26-01/31/26 Security Patrol Bill #CD_001360306 2/23/2026 3/5/2026 1,682.84 RING CENTRAL Mobile User & New Digital Line Bill #278175 3/2/2026 3/5/2026 1,303.45 INNOVATIVE DOCUMENT SOLUTIONS 2/01/25-2/28/26 Copier Services Maintenance/Repairs, Ink /Toner (7copiers )
Bill #1TGH-1XGD-J6Y4 3/2/2026 3/5/2026 46.07 AMAZON CAPITAL SERVICES Chair Support Bill #41340426 2/23/2026 3/5/2026 214.24 GREAT AMERICA FINANCIAL SERVICCanon Color Copier Syst. #019-1780554 Bill #6136670457 2/22/2026 3/5/2026 40.01 VERIZON WIRELESS 01/23/26-02/22/26 Data Internet Chrg 6192 Windsong Bill #6136670456 2/22/2026 3/5/2026 1,401.09 VERIZON WIRELESS Verizon 01/23/26-02/22/26 Bill #SIN059961 1/31/2026 3/5/2026 4,378.00 HDL SOFTWARE LLC. January 2026 Hdl Fees Bill #428328 2/12/2026 3/5/2026 7,600.69 STRADLING YOCCA CARLSON &, RAUTHBond Counsel for CFD 2025-1 Formation Bill #428327 2/12/2026 3/5/2026 5,874.00 STRADLING YOCCA CARLSON &, RAUTHCounsel for CFD 2025-S Formation Bill #W11190690101 2/26/2026 3/5/2026 141.11 ZONES IT SOLUTIONS INC. NCE Office 365 G3 Bill #14115780 2/23/2026 3/5/2026 226.50

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/12/26-02/12/26 Water Zone 42 Loc 02 M2
Bill #14115779 2/23/2026 3/5/2026 254.97

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/12/26-02/12/26 Water Zone 42 Loc 03 M3
Bill #14115527 2/23/2026 3/5/2026 465.56

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/12/26-02/12/26 Water Zone 42 Loc 01 M1
Bill #14123209 2/25/2026 3/5/2026 182.57

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/15/26-02/15/26 Water Zone 3 Loc 35 M1
Bill #14123414 2/25/2026 3/5/2026 424.83

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/15/26-02/15/26 Water City Hall

Page 1 of 8 ends

43 Transaction Name Bill Date Payment Date Amount (Credit) Vendor Memo Bill #14126224 2/25/2026 3/5/2026 269.81

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/15/26-02/15/26 Water 24707 Prelipp Rd
Bill #021926-7151 2/19/2026 3/5/2026 7,955.27 EDISON 01/14/26-02/12/26 Electric- Parks, Signal, City Hall Bill #022626-5471 2/26/2026 3/5/2026 16.02 EDISON 01/27/26-02/25/26 Elec 36551 Elizabeth Pedestal Bill #1VPV-KMCD-DJMD 3/3/2026 3/5/2026 29.35 AMAZON CAPITAL SERVICES Laptop bag for new City laptop Bill #14XN-QRXP-FKGR 3/3/2026 3/5/2026 277.68 AMAZON CAPITAL SERVICES Finance Staff Chairs Bill #06B8710025004 2/28/2026 3/5/2026 550.34 PRIMO BRANDS City Hall Drinking Water Services 01/27/26-02/26/26 Bill #34834 12/31/2025 3/5/2026 687.50 ARCHITERRA DESIGN GROUP CIP 099, 20-Acre Passive Park Bill #22226818002 3/4/2026 3/5/2026 499.31 RING CENTRAL Digital Line Unlimited (new purchase) Bill #5136628 3/4/2026 3/5/2026 3,426.91 MANPOWER Temp Staff Augmentation W/E 3/1/26 Bill #022726-9129 2/27/2026 3/5/2026 556.49 EDISON 01/28/26-02/26/26 Elec - 32637 Gruwell (FS61) Bill #022726-6801 2/27/2026 3/5/2026 16.02 EDISON 01/28/26-02/26/26 CFD 2013-1 Zone 10 Bill #022726-6091 2/27/2026 3/5/2026 49.08 EDISON 01/28/26-02/26/26 Elec 21347 Como St (Little League) Bill #1KP6-Q9V4-H9H 3/4/2026 3/5/2026 277.68 AMAZON CAPITAL SERVICES Chairs for CM Office Bill #178592429-0001 1/6/2026 3/5/2026 859.11 SUNBELT RENTALS, INC. Equipment Rental - Skid Steer Bill #2020113889 2/28/2026 3/5/2026 8,679.99 ABSOLUTE INTERNATIONAL, SECURITY INC02/01/26-02/28/26 Security Patrol Bill #32826 3/2/2026 3/5/2026 100.00 SMILEON3 PHOTO BOOTH, LLC Teen Egg Hunt Event Deposit/ Retainer Bill #4258766040 2/5/2026 3/12/2026 222.59 CINTAS CORPORATION Staff Uniform & Towel Maintenance Bill #0360187 2/12/2026 3/12/2026 113.39 GOVERNMENT FORMS & SUPPLIESReceived Dater Bill #180234423-0001, 180066985-
0001 2/20/2026 3/12/2026 2,503.80 SUNBELT RENTALS, INC. Public Works Road Maintenance - Dump Truck Rental Bill #4260261708 2/19/2026 3/12/2026 222.59 CINTAS CORPORATION Staff Uniform & Towel Maintenance Bill #2025-1860 12/31/2025 3/12/2026 3,985.00 TKE ENGINEERING INC General Consulting Services - December 2025 Bill #180393192-0002 2/25/2026 3/12/2026 1,383.71 SUNBELT RENTALS, INC. Public Works Road Maintenance - Loader/Tractor Rental Bill #16NJ-C6JC-F4VW 3/3/2026 3/12/2026 50.55 AMAZON CAPITAL SERVICES Employee Event Bill #30207 1/5/2026 3/12/2026 4,775.84 NPPW SERVICES Irrigation Repairs Bill #030226-7481 3/2/2026 3/12/2026 546.32 EDISON 01/13/26-02/11/26 CSAs Bill #030226-8975 3/2/2026 3/12/2026 142.39 EDISON 02/01/26/02/28/26 CFD Zone 3 Bill #030226-7694 3/2/2026 3/12/2026 242.16 EDISON 02/01/26-02/28/26 CFD Zone 3 Bill #030226-4487 3/2/2026 3/12/2026 48.29 EDISON 02/01/26-02/28/26 20505 Palomar St (Marna) Bill #030226-4845 3/2/2026 3/12/2026 71.20 EDISON 02/01/26-02/28/26 CFD Zone 2 Bill #030226-9127 3/2/2026 3/12/2026 269.21 EDISON 02/01/26-02/28/26 Electric CFD 2013-001 Zone 5 Bill #030226-0962 3/2/2026 3/12/2026 272.16 EDISON 02/01//26-02/28/26 Electric CFD 2013-001 Zone 2 Bill #030226-7504 3/2/2026 3/12/2026 37.09 EDISON 02/01/26-02/28/26 CFD 2013-1 Orange/Corazza Bill #030226-1757 3/2/2026 3/12/2026 219.49 EDISON 02/01/26-02/28/26 Electric CFD 2013-001 Zone 3 Bill #030226-4610 3/2/2026 3/12/2026 142.41 EDISON 02/01/26-02/28/26 Electric CFD 2013-001 Zone 3 Bill #030226-4293 3/2/2026 3/12/2026 6,609.22 EDISON 02/01/26-02/28/26 CSA 103 Sales Acquisition Bill #235853 12/31/2025 3/12/20261,161,422.15 COUNTY OF RIVERSIDE, FIRE DEPARTMENTFire Protection Services 10/01/25-12/31/25 Bill #SH0000049916 2/13/2026 3/12/2026 592,361.58 RIVERSIDE COUNTY, SHERIFF'S DEPARTMENTContract Law Enforcement Through 12/11/25-01/07/26 Bill #42481 2/27/2026 3/12/2026 126.04 SIGNS BY TOMORROW We Are Wildomar Signs Bill #WI 260302 2/28/2026 3/12/2026 3,450.00 Kiley & Associates, LLC Federal Advocacy Services - February 2026 Bill #41434865 3/5/2026 3/12/2026 242.52 GREAT AMERICA FINANCIAL SERVICCanon Color Copier Syst. 020-1472515 Bill #1245069 2/20/2026 3/12/2026 809.88 ALL AMERICAN ASPHALT Public Works Road Maintenance - Cold Mix Bill #WILD-01.8 - 16 1/31/2026 3/12/2026 438.75 PLACEWORKS CIP 025-1 Clinton Keith Rd. Widening Bill #231641125 1/31/2026 3/12/2026 6,786.46 ST. FRANCIS ELECTRIC Traffic Signal Maintenance - January, 2026 Bill #231641122 12/31/2025 3/12/2026 2,822.75 ST. FRANCIS ELECTRIC Traffic Signals Extra Work - City Signal Related - December 2025

Page 2 of 8 ends

44 Transaction Name Bill Date Payment Date Amount (Credit) Vendor Memo Bill #231641121 12/31/2025 3/12/2026 1,928.19 ST. FRANCIS ELECTRIC Traffic Signals Extra Work - City Related - December 2025 Bill #2026 - 3 3/6/2026 3/12/2026 88.88
Coalition for Controlling Ins. Costs in California
Schools Health and Welfare Trust EAP Services
Bill #30526 3/5/2026 3/12/2026 18.49 CHRISTOPHER MANN
Reimbursement for Toll Road Charges for League of CA
Cities City Manager Conference
Bill #030526 3/5/2026 3/12/2026 357.13 CHRISTOPHER MANN Reimbursement for Rental Vehicle Used for League of CA
Cities City Manager Conference
Bill #358345 12/31/2025 3/12/2026 43,820.70 BURKE, WILLIAMS AND SORENSON,, LLPLegal Services - December 2025 Bill #34827-34835 12/31/2025 3/12/2026 4,584.80 ARCHITERRA DESIGN GROUP December 2025 Plan check Services Bill #8013537271 2/25/2026 3/12/2026 183.06 STERICYCLE, INC Contractual Shredding Svc Bill #030426-1202 3/4/2026 3/12/2026 26.29 EDISON 02/01/26-02/28/26 Hidden Springs/Clinton Keith Bill #030526-0828 3/5/2026 3/12/2026 185.04 EDISON 02/01/26-02/28/26 Electric Wildomar City Lamps Bill #030226-2458 3/2/2026 3/12/2026 335.00 EDISON Electricity Charges from 01/10/26-03/01/26 Bill #W11213540101 3/9/2026 3/12/2026 132.17 ZONES IT SOLUTIONS INC. NCE Office 365 G3 Bill #1031295737 3/9/2026 3/12/2026 825.62 DELL MARKETING L.P. 2 Monitors for City Clerk's Office Bill #1VFN-3KN6-34T4 3/10/2026 3/12/2026 1,660.19 AMAZON CAPITAL SERVICES Chairs for CM Office Bill #14119734 2/24/2026 3/12/2026 529.65

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Zone 29 Loc 02
Bill #14119737 2/24/2026 3/12/2026 315.73

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Zone 30 Loc 1
Bill #14119654 2/24/2026 3/12/2026 575.73

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Zone 3 Loc 29 M1
Bill #14119148 2/24/2026 3/12/2026 277.40

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Winsong Park
Bill #14119107 2/24/2026 3/12/2026 582.32

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 21400 Palomar Little League Field Bill #14118942 2/24/2026 3/12/2026 146.42

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Zone 51 Loc 1
Bill #14118689 2/24/2026 3/12/2026 154.80

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Zone 3 Loc 49 M1
Bill #14118649 2/24/2026 3/12/2026 172.80

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Zone 30 Loc 02
Bill #14118442 2/24/2026 3/12/2026 146.42

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Zone 3 Loc 23 M1
Bill #14119836 2/24/2026 3/12/2026 514.03

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Zone 3 Loc 42 & 47 M1 Bill #14120232 2/24/2026 3/12/2026 343.69

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water 22450 1/2 Cervera
Bill #14120472 2/24/2026 3/12/2026 492.27

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water 22450 Cervera
Bill #14121563 2/24/2026 3/12/2026 337.51

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Zone 62 - 22933 Delca Bill #14121649 2/24/2026 3/12/2026 171.93

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 01/14/26-02/14/26 Water Zone 67 - Arnette & Catt Bill #14122058 2/24/2026 3/12/2026 346.74

ELSINORE VALLEY MUNICIPAL, WATER

DISTRICT
01/14/26-02/14/26 CFD 2022-1 NE Wildomar Trail/Margaret Ln
Bill #5137A 2/28/2026 3/12/2026 11,300.00 INFINITY TECHNOLOGIES February 2026 Monthly Services

Page 3 of 8 ends

45 Transaction Name Bill Date Payment Date Amount (Credit) Vendor Memo Bill #5137B 2/28/2026 3/12/2026 213.75 INFINITY TECHNOLOGIES February 2026 Datto Office 365 Backup Services Bill #5113 2/28/2026 3/12/2026 3,200.00 INFINITY TECHNOLOGIES February 2026 GIS Contractual Services Bill #3451235293 3/9/2026 3/12/2026 288.83 ZOOM VIDEO COMMUNICATIONS, INC.Zoom Workplace Pro Monthly 3/9/26-4/8/26 Bill #11777095 2/5/2026 3/12/2026 452.98 SOUTHERN CALIFORNIA NEWS, GROUPPublic Notice - Ordinance 259,260,261 Proposed Bill #11779492 2/20/2026 3/12/2026 566.22 SOUTHERN CALIFORNIA NEWS, GROUPPublic Notice - Ordinance 259,260,261 Adopted Bill #11779974 2/22/2026 3/12/2026 212.34 SOUTHERN CALIFORNIA NEWS, GROUPPublic Notice - CIP 026-2, Design PS&E Bill #001237 3/2/2026 3/12/2026 1,025.00 GOPHER SQUAD February 2026 past control services Bill #1621 2/28/2026 3/12/2026 255.14 The Cleaning Squad Janitorial Services for City of Wildomar Facilities Bill #206091 3/10/2026 3/12/2026 324.08 PORTER RENTS, LLC Public Works Road Maintenance - Roller Rental Bill #1620 2/28/2026 3/12/2026 182.17 The Cleaning Squad Janitorial Services for City of Wildomar Facilities Bill #1614 2/28/2026 3/12/2026 109.20 The Cleaning Squad Janitorial Services for City of Wildomar Facilities Bill #1623 2/28/2026 3/12/2026 1,801.28 The Cleaning Squad Janitorial Services for City of Wildomar Facilities Bill #1624 2/28/2026 3/12/2026 6,618.96 The Cleaning Squad Janitorial Services for City of Wildomar Facilities Bill #309634/3 3/2/2026 3/12/2026 9.29 ACE HARDWARE Facilities Supplies Bill #309628/3 2/28/2026 3/12/2026 16.52 ACE HARDWARE Facilities Supplies Bill #309636/3 3/3/2026 3/12/2026 26.00 ACE HARDWARE Facilities Supplies-Packing Tape Bill #001211 1/31/2026 3/12/2026 1,025.00 GOPHER SQUAD January 2026 pest control services Bill #C84913 2/27/2026 3/12/2026 864.00 Sundown Window Tint, Inc. Installed 10 pieces Optitune-05 solar film in suite 111 Bill #C82836 2/27/2026 3/12/2026 350.00 Sundown Window Tint, Inc. Installed 4 pieces Optitune-05 solar film in suite 103 Bill #31226 3/12/2026 3/12/2026 578.30 CALIFORNIA STATE DISBURSEMENT UNITWithholding Order Bill #31226 3/12/2026 3/12/2026 100.00 FRANCHISE TAX BOARD Withholding Order Bill #5136755 3/11/2026 3/12/2026 3,462.96 MANPOWER Temp Staff Augmentation W/E 3/8/26 Bill #RS7159394 2/28/2026 3/12/2026 62.95 CORODATA RECORDS, INC. Standard Record Storage Carton 2/1/26-2/28/26 Bill #90369 3/11/2026 3/12/2026 285.00 RIVERSIDE TRANSIT AGENCY RTA Bus Passes Bill #309625/3 2/25/2026 3/12/2026 10.31 ACE HARDWARE Facilities Supplies Bill #2888 3/6/2026 3/12/2026 300.00 MATTOX DESIGNS DBA SERIOUSLY STICKERSSocial Media Videos Bill #0166 3/10/2026 3/12/2026 400.00 THE VALLEY BUSINESS JOURNAL Valley Business Journal Bill #1638 2/28/2026 3/12/2026 123.81 The Cleaning Squad Janitorial Services for Marna O'Brien Park Bill #4766 3/9/2026 3/12/2026 27,967.00 CPS Laserfiche Cloud Subscription Renewal Bill #003604 3/12/2026 3/12/2026 2,908.47 INTERNAL REVENUE SERVICE Federal Withholding Remittance for 2/16/26-2/28/26 Bill #922887 3/12/2026 3/12/2026 949.13

STATE OF CALIFORNIA, EMPLOYEE
DEVELOPMENT DEPARTMENT State Withholding - 2/16/26-2/28/26 Bill #927196 3/12/2026 3/12/2026 7,973.70

STATE OF CALIFORNIA, EMPLOYEE
DEVELOPMENT DEPARTMENT State Withholding 2/21/26-3/6/26 Bill #001923 3/12/2026 3/12/2026 23,591.26 INTERNAL REVENUE SERVICE Federal Withholding Remittance for 2/21/26-3/6/26 Bill #91624 9/16/2024 3/19/2026 75.00 STRONG, KIM Planning Commission 09/04/24 Bill #79701 8/19/2025 3/19/2026 144.00 AMERICAN FORENSIC NURSES Blood Draw (2) Bill #79711 8/19/2025 3/19/2026 144.00 AMERICAN FORENSIC NURSES Blood Draw (2) Bill #174102619-0001 9/11/2025 3/19/2026 51.45 SUNBELT RENTALS, INC. Public Works Maintenance - Pavement and Shoulder Repair Bill #172114963-0001 7/29/2025 3/19/2026 385.38 SUNBELT RENTALS, INC.

Equipment Rental for Road Maintenance Pavement and
Shoulder Repair
Bill #171371401-0001 7/10/2025 3/19/2026 146.94 SUNBELT RENTALS, INC.

Equipment Rental for Road Maintenance, Pavement and
Shoulder Repair
Bill #189087 12/31/2025 3/19/2026 464.74 DATA TICKET, INC. December 2025 Daily Cite Processing Bill #4261008331 2/26/2026 3/19/2026 222.59 CINTAS CORPORATION Staff Uniform & Towel Maintenance Bill #696965 3/4/2026 3/19/2026 34.81 CRISP IMAGING CIP 044-3, Sedco Sidewalk Project - March 2026

Page 4 of 8 ends

46 Transaction Name Bill Date Payment Date Amount (Credit) Vendor Memo Bill #01-7257369 3/4/2026 3/19/2026 946.00 APPLEONE Temp HR Staffing Bill #35134,35137,35138,351392/28/2026 3/19/2026 3,003.75 ARCHITERRA DESIGN GROUP Plan Check Review - February 2026 Bill #10164 3/6/2026 3/19/2026 4,700.00 3T FENCE Public Works Road Maintenance - Fence Installation Bill #SL260550 1/21/2026 3/19/2026 5,038.99 DEPARTMENT OF TRANSPORTATIONTS Maintenance - October - December, 2025 Bill #IGL1-DQG9-JR7C 3/11/2026 3/19/2026 28.26 AMAZON CAPITAL SERVICES Utensil's for Employee Event and Laminating Paper Bill #1630 3/11/2026 3/19/2026 99.99 BLENDMAGIC PRODUCTS LLC Landscape Maint.-Weed Killer Bill #31226 3/12/2026 3/19/2026 12.06 STANTON, SHERRI Reissuing Mileage Reimbursement to Sherri Stanton Bill #31226 3/12/2026 3/19/2026 75.00 LLOYD, JOHN Reissuing Outstanding Check 214529 Issued 10/14/21 Bill #31226 3/12/2026 3/19/2026 20.00 DULAK, MORGAN Reissuing Outstanding Check 211461 Issued 10/24/2019 Bill #31226 3/12/2026 3/19/2026 117.46 BELTO, VICKI Reissuing Outstanding Check 211187 Issued 08/29/2019 Bill #31226 3/12/2026 3/19/2026 250.00 RCHCA February 2026 SKR Fees Bill #31226 3/12/2026 3/19/2026 13,458.00 WESTERN RIVERSIDE COUNTY, RCAJanuary 2026 MSHCP Fees Bill #INV00568532 2/10/2026 3/19/2026 250.00 BOOT BARN HOLDINGS Maint. Worker Safety Boots - W. Olvera Bill #INV00568533 2/10/2026 3/19/2026 179.09 BOOT BARN HOLDINGS Maint. Worker Safety Boots - A. Quiroz Bill #INV00568530 2/10/2026 3/19/2026 232.85 BOOT BARN HOLDINGS Maint. Worker Safety Boots - D. Castillo Bill #INV00568531 2/10/2026 3/19/2026 250.00 BOOT BARN HOLDINGS Maint. Worker Safety Boots - D. Wyatt Bill #2025-1866 12/31/2025 3/19/2026 3,885.00 TKE ENGINEERING INC CIP 103, Wildomar Trail Interchange Restriping, Dec, 2025 Bill #2025-1857 12/31/2025 3/19/2026 4,158.00 TKE ENGINEERING INC Traffic Engineering, December, 2025 Bill #2025-1712 11/30/2025 3/19/2026 2,037.00 TKE ENGINEERING INC CIP 103, Wildomar Trail Interchange Restriping, Nov 2025 Bill #2025-1707 11/30/2025 3/19/2026 262.00 TKE ENGINEERING INC CIP 063 Line C Basin and Storm Drain November 2025 Bill #231641124 1/31/2026 3/19/2026 1,283.88 ST. FRANCIS ELECTRIC Traffic Operations - TS Maintenance Responses - Jan, 2026 Bill #W11224150101 3/14/2026 3/19/2026 640.18 ZONES IT SOLUTIONS INC. NCE Office 365 G3 Bill #01-7262130 3/11/2026 3/19/2026 946.00 APPLEONE Temp HR Assistance Bill #41434866 3/5/2026 3/19/2026 214.24 GREAT AMERICA FINANCIAL SERVICCanon Color Copier Syst. #016-1585799 Bill #3054785 12/31/2025 3/19/2026 26,123.83 INTERWEST CONSULTING GROUP CIP Professional Services - December 2025 Bill #7653 1/1/2026 3/19/2026 5,200.00 CALIFORNIA CONSULTING, INC. Grant Management Services, January 2026 Bill #7725 2/1/2026 3/19/2026 5,200.00 CALIFORNIA CONSULTING, INC. Grant Management Services, February 2026 Bill #030626 3/6/2026 3/19/2026 562.05 PITNEY BOWES Postage Meter Refill 02/19/26 Bill #188866201030726 3/7/2026 3/19/2026 6.33 CHARTER COMMUNICATIONS Cable through 04/07/26 - FS61 Bill #31326 3/13/2026 3/19/2026 117.60 SOCALGAS 02/09/26-03/11/26 Gas -Fire Dept 32637 Gruwell Bill #79800 2/28/2026 3/19/2026 14,510.00 ROGERS, ANDERSON, MALODY &, SCOTT LLPFY2024-25 Audit - City of Wildomar Bill #14X1-MQ3Y-P499 3/17/2026 3/19/2026 27.84 AMAZON CAPITAL SERVICES St Patrick's Day Employee Event Supplies Bill #3050653 12/31/2025 3/19/2026 4,678.71 INTERWEST CONSULTING GROUP Building & Safety Services - December 2025 Bill #3053207 12/31/2025 3/19/2026 6,287.56 INTERWEST CONSULTING GROUP Non-CIP Services for December 2025 Bill #1024350 12/22/2025 3/19/2026 1,744.25 PlanetBids, LLC FY2022-26 Prorated Subscription for Additional User Bill #1024313 11/30/2025 3/19/2026 500.00 PlanetBids, LLC Additional Read Only User License Bill #360098 1/31/2026 3/19/2026 48,110.00 BURKE, WILLIAMS AND SORENSON,, LLPLegal Services - January 2026 Bill #216652-2 12/4/2025 3/19/2026 4,991.26 GRANICUS, LLC GovMettings LiveCast SetUp and Config 10-01/25-05/11/26 Bill #082317220X260313 3/13/2026 3/19/2026 179.99 DIRECT TV 03/12/26-04/11/26 Cable Services - City Hall Bill #2160 1/31/2026 3/19/2026 5,585.29 SPICER CONSULTING GROUP Maint. District Administration - January 2026 Bill #2181 2/28/2026 3/19/2026 5,585.29 SPICER CONSULTING GROUP Maint. District Administration - February 2026 Bill #5137C 3/16/2026 3/19/2026 984.00 INFINITY TECHNOLOGIES February 2026 ProofPoint Essentials Advance Bill #14067672 1/27/2026 3/19/2026 268.14

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 12/14/25-01/14/26 Water Zone 3 Loc 29 M2
Bill #205360243 3/12/2026 3/19/2026 166.08 ULINE Departmental Supplies-Nitrile Gloves

Page 5 of 8 ends

47 Transaction Name Bill Date Payment Date Amount (Credit) Vendor Memo Bill #1576 12/12/2025 3/19/2026 4,992.81 BUDGET BLINDS OF MENIFEE City Hall Blinds Bill #5136882 3/18/2026 3/19/2026 3,426.91 MANPOWER Temp Staff Augmentation W/E 3/15/26 Bill #INV-2903 2/25/2026 3/19/2026 699.09

CALIFORNIA INTERGOVERNMENTAL, RISK
AUTHORITY (CIRA) Work Comp Deductible Q2 2025
Bill #031326-2529 3/13/2026 3/19/2026 375.20 EDISON 02/05/26-03/12/26 22378 Bundy Canyon Rd Bill #192879 2/20/2026 3/19/2026 50.00 DEANZA TERMITE & PEST CONTROL, INCPest Control Marna O'Brien Bill #192854 2/20/2026 3/19/2026 195.00 DEANZA TERMITE & PEST CONTROL, INCPest Control City Hall Bill #1WGL-PL1W-NW7L 3/18/2026 3/19/2026 16.28 AMAZON CAPITAL SERVICES Departmental Supplies Bill #309649/3 3/11/2026 3/19/2026 10.32 ACE HARDWARE Facilities Supplies Bill #425848 3/2/2026 3/19/2026 119.25 STAUFFERS LAWN EQUIPMENT Equipment Repair - Trimmer Bill #423576 2/10/2026 3/19/2026 133.65 STAUFFERS LAWN EQUIPMENT Maintenance on Straight Shaft Trimmer Bill #423575 2/10/2026 3/19/2026 116.68 STAUFFERS LAWN EQUIPMENT Hip Mount for Backpack Blower Bill #425740 3/2/2026 3/19/2026 108.75 STAUFFERS LAWN EQUIPMENT Maintenance on Trimmer Bill #INV0000243947 3/16/2026 3/19/2026 5,940.00 ARMADA ADMINISTRATORS City Council and City Manager Addt'l Insurance Bill #APR 2026 3/9/2026 3/19/2026 7,879.50 ANIMAL FRIENDS OF THE VALLEY,, INC.Animal Control Service April 2026 Bill #31626 3/16/2026 3/19/2026 22.00 WILLIAMS, BRIAN Reissuing Outstanding Check 211097 Issued 08/08/2019 Bill #31626 3/16/2026 3/19/2026 244.33 CUEVAS RICARDO Reissuing Outstanding Check 218378 Issued 06/13/2024 Bill #180393192-0003 2/26/2026 3/26/2026 1,460.27 SUNBELT RENTALS, INC. Tractor Rental Bill #35038 2/28/2026 3/26/2026 8,280.25 ARCHITERRA DESIGN GROUP CIP 099, 20-Acre Passive Park Bill #9361618549 2/28/2026 3/26/2026 150.08 CINTAS CORPORATION Maintenance Dept. Eye Wash Station - Feb 2026 Bill
#309633/3,309635/3,309637/3,#30963
9/3,309642/3 3/2/2026 3/26/2026 946.61 ACE HARDWARE
Road Maintenance Program Supplies: Motomix, Protective
Gear, Padlocks
Bill #AR052272 1/31/2026 3/26/2026 14,806.86 CITY OF MURRIETA January 2026 Homeless Outreach Services Bill #30848327 2/28/2026 3/26/2026 330.75 CORELOGIC SOLUTIONS, LLC Code Enforcement Software - February 2026 Bill #190304 1/31/2026 3/26/2026 1,193.95 DATA TICKET, INC. January 2026 Daily Cite Processing Bill #189626 1/31/2026 3/26/2026 790.00 DATA TICKET, INC. January 2026 Online Access Bill #649804 3/10/2026 3/26/2026 175.22 TEMECULA VALLEY PIPE & SUPPLYBall Field Sprinkler Repair Bill #S 2238096 SB 3/1/2026 3/26/2026 1,350.00

DEPARTMENT OF INDUSTRIAL, RELATIONS
PAYMENT City Elevator Certification
Bill #031929 3/4/2026 3/26/2026 49.00 DEPARTMENT OF JUSTICE Background FBI/DOJ - HR Tech Bill #DNCE0A07-0002 3/7/2026 3/26/2026 800.00 FORENSIC NURSES OF SOCAL, INC.Dry Run Exam, Case # WI260600027, 3/2/26 Bill #032626 3/26/2026 3/26/2026 100.00 FRANCHISE TAX BOARD Withholding Order Bill #32626 3/26/2026 3/26/2026 578.30 CALIFORNIA STATE DISBURSEMENT UNITWithholding Order Bill #1CTQ-TG9H-NVDW 3/19/2026 3/26/2026 63.33 AMAZON CAPITAL SERVICES Office Supplies Bill #4740 2/5/2026 3/26/2026 6,956.44 CPS Scanning, Agreement/workflow module Bill #031626-5636 3/16/2026 3/26/2026 277.84 EDISON 02/12/26-03/15/26 Elect - Suite 101 Bill #031626-2838 3/16/2026 3/26/2026 1,049.60 EDISON 02/12/26-03/15/26 Electric City Hall Bill #031626-7255 3/16/2026 3/26/2026 160.41 EDISON 02/12/26-03/15/26 Clinton Keith Rd Suite 110 Bill #031626-3123 3/16/2026 3/26/2026 194.27 EDISON 02/12/26-03/15/26 23873 Clinton Keith Rd Suite 109 Bill #031626-3487 3/16/2026 3/26/2026 339.28 EDISON 02/12/26-03/15/26 23873 Clinton Keith Rd Suite 103 Bill #031626-8408 3/16/2026 3/26/2026 17.10 EDISON 02/12/26 03/15/26 35711 Capistrano St CFD Zone 2 Bill #205768 2/26/2026 3/26/2026 389.12 PORTER RENTS, LLC Skid Steer Rental Bill #031726-3047 3/17/2026 3/26/2026 97.12 EDISON 02/13/26-03/16/26 34311 Mission Trail TC1 Bill #031726-3950 3/17/2026 3/26/2026 42.25 EDISON 02/13/26-03/16/26 34311 Mission Trail LS3 Bill #031726-3243 3/17/2026 3/26/2026 45.95 EDISON 02/13/26-03/16/26 31818 Central St LS3 Bill #01-7265718 3/18/2026 3/26/2026 946.00 APPLEONE Temp HR Assistance

Page 6 of 8 ends

48 Transaction Name Bill Date Payment Date Amount (Credit) Vendor Memo Bill #90198639 3/4/2026 3/26/2026 584.00

OCCUPATIONAL HEALTH CENTERS OF,
CALIFORNIA,A MEDICAL CORP New Hire Physical
Bill #031726-8688 3/17/2026 3/26/2026 88.81 EDISON 02/13/26-03/16/26 08/13/24 21458 Grand Ave TC1 Bill #031726-5361 3/17/2026 3/26/2026 92.35 EDISON 02/13/26-03/16/26 31818 Central TC1 Bill #031726-7372 3/17/2026 3/26/2026 84.03 EDISON 02/13/26-03/16/26 24211 Clinton Keith Rd TC1 Bill #031726-4237 3/17/2026 3/26/2026 255.21 EDISON 02/13/26-03/16/26 Clinton Keith Suite 111 Bill #14162705 3/18/2026 3/26/2026 211.88

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/10/26-03/11/26 Water Zone 3 Loc 25 M1
Bill #14162706 3/18/2026 3/26/2026 754.81

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/10/26-03/11/26 Water Zone 3 Loc 25 M2
Bill #14164470 3/18/2026 3/26/2026 134.53

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/10/26-03/11/26 Water Zone 3 Loc 24 M1
Bill #14165796 3/18/2026 3/26/2026 262.75

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/10/26-03/11/26 Water Malaga Gateway PK
Bill #14165638 3/18/2026 3/26/2026 344.14

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/10/26-03/11/26 Water CFD 2013-1, Zone 2
Bill #14154092 3/16/2026 3/26/2026 85.40

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/04/26-03/06/26 Water Zone 52 Loc 01
Bill #14154147 3/16/2026 3/26/2026 53.00

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/04/26-03/06/26 Water Zone 29 Loc 02
Bill #14154429 3/16/2026 3/26/2026 157.17

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/04/26-03/06/26 Water Zone 71 Loc 01
Bill #14154628 3/16/2026 3/26/2026 125.97

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/04/26-03/06/26 Water 32637 Gruwell-FS 61
Bill #14154710 3/16/2026 3/26/2026 586.25

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/04/26-03/06/26 20505 Palomar St Marna O'Brien Bill #14157929 3/16/2026 3/26/2026 97.69

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/04/26-03/06/26 CFD 2013-1 Zone 10
Bill #14159418 3/17/2026 3/26/2026 80.21

ELSINORE VALLEY MUNICIPAL, WATER
DISTRICT 02/08/26-03/10/26 Water Zone 3 Loc 7 M1
Bill #41523899 3/18/2026 3/26/2026 214.24 GREAT AMERICA FINANCIAL SERVICCanon Color Copier Syst. 018-1765784 Bill #031926-3767 3/19/2026 3/26/2026 17.33 EDISON 02/18/26-03/18/26 31160 Clinton Keith Rd LS3 Bill #031926-5249 3/19/2026 3/26/2026 42.85 EDISON 02/18/26-03/18/26 32975 Willow Bay Rd Bill #031926-7633 3/19/2026 3/26/2026 99.90 EDISON 02/18/26-03/18/26 32975 Willow Bay Rd TC1 Bill #031926-0022 3/19/2026 3/26/2026 119.87 EDISON 02/18/26-03/18/26 22628 Wildomar Trail TC1 & LS3 Bill #32326 3/23/2026 3/26/2026 22,230.62 DR HORTON LOS ANGELES COMPANY, INC.Remaining CFD2023-1 Formation Deposit Refund Bill #3107762072 3/13/2026 3/26/2026 21.16 PITNEY Postage Machine Fees Bill #164260 3/23/2026 3/26/2026 3,000.00 JOE A. GONSALVES & SON March 2026 Prof. Contractual Legislative Advocacy Svcs Bill #1CG1-MTXC-DTC1 3/25/2026 3/26/2026 30.98 AMAZON CAPITAL SERVICES Council Chamber Frames Bill #2026093 2/18/2026 3/26/2026 389.18 MCA DIRECT City Clerk Perm Record Paper Bill #309659/3 3/19/2026 3/26/2026 7.36 ACE HARDWARE Facilities Supplies Bill #5136997 3/25/2026 3/26/2026 3,426.91 MANPOWER Temp Staff Augmentation W/E 3/22/26 Bill #100402282412 3/16/2026 3/26/2026 1,004.31 OTIS ELEVATOR COMPANY FY26 Elevator Maintenance & New Car Fan Repair Bill #2694529 1/6/2026 3/26/2026 256.05 PAPER DIRECT Certificates for Council Recognitions Bill #2694261 1/6/2026 3/26/2026 159.79 PAPER DIRECT Certificates for Council Recognitions Bill #173604641 3/24/2026 3/26/2026 1,188.00

COOL AIR SOLUTIONS HEATING AND, AIR

CONDITIONING

ANNUAL HVAC SERVICES FOR CITY HALL, CEMETERY
& FIRE STATION 61

Page 7 of 8 ends

49 Transaction Name Bill Date Payment Date Amount (Credit) Vendor Memo Bill #32526 3/25/2026 3/26/2026 535.00 SMILEON3 PHOTO BOOTH, LLC Special Event: Teen Egg Hunt Bill #32526 3/25/2026 3/26/2026 500.00 GAME TRUCK, LLC Game Truck for Teen Egg Hunt Bill #32526 3/25/2026 3/26/2026 770.00 INLAND EMPIRE A/V RENTALS Sound & Stage Rental Bill #32526 3/25/2026 3/26/2026 4,150.00 THE SILENT DJ Teen Egg Hunt Bill #428284 3/20/2026 3/31/2026 489.35 STAUFFERS LAWN EQUIPMENT Replacement Stringline Trimmer (STI 94), Face
Shield/Protector (Spy)
Total: 2,383,899.31

Page 8 of 8 ends

50 ACH Date Payee Description Amount
3/16/2026Frontier Communications Monthly Phone and Internet Services 74.99$ 3/16/2026Viasat, Inc. Cemetery Phone and Internet 177.53$ 3/17/2026 US Bank
Credit Card Statement Payment - Business Meals,
Conference Expenses, Organizational Memberships,
Special Event Supplies, Repairs & Maintenance, and
Office Supplies
44,585.00$
3/18/2026Charter Spectrum Monthly Backup Internet Services 527.88$ 3/19/2026Frontier Communications Monthly Phone and Internet Services 169.99$ 3/20/2026Enterprise Fleet Management Monthly City Vehicle Lease Payment 2,070.11$ 3/23/2026Southern California Edison Service Meter for New Traffic Signal 8,776.87$ 3/26/2026Frontier Communications Monthly Phone and Internet Services 72.58$ 3/26/2026Frontier Communications Monthly Phone and Internet Services 837.03$ TOTAL 57,291.98$
City of Wildomar
Wire Transfer Register
3/31/2026
51 ACH Date Payee Description Amount
3/12/2026 Staff Payroll 2/21/2026-3/6/2026 238,820.60 $ 3/13/2026 City Manager Payroll 2/16/2026-2/28/2026 14,588.71$ 3/26/2026 Staff Payroll 3/7/2026-3/20/2026 247,456.31 $ 3/31/2026 Council Payroll 3/1/2026-3/31/2026 15,013.83$ TOTAL 515,879.45$
City of Wildomar
Payroll Warrant Register
3/31/2026
52 CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.3

Meeting Date: April
8, 2026
SUBJECT:

March 2026 Cemetery Warrant Register
SUBMITTED BY:

Nicholas Neidiffer, Accountant II
PREPARED BY:

Nicholas Neidiffer, Accountant II

ACTION:

Approve the following:

For Fiscal Year 2025/2026

1. Warrant Register dated 3-5-2026 in the amount of $2,017.55.

2. Warrant Register dated 3-12-2026 in the amount of $2,413.06.

3. Warrant Register dated 3-19-2026 in the amount of $16,296.09.

4. Warrant Register dated 3-31-2026 in the amount of $455.64.

SUMMARY:

March 2026 Cemetery Warrant Register

DISCUSSION:

The Wildomar Cemetery District requires that the Trustees audit payments of demands and direct the General Manager to issue checks. The Warrant Registers are submitted for approval.

FISCAL IMPACT:

These Warrant Registers will have a budgetary impact in the amount and fiscal year noted in the recommendation section of this report. These costs are included in the Fiscal Year 2025/26 Budget.

ATTACHMENTS:

March 2026 Cemetery Warrant Register.pdf
53 Transaction Name Bill Date Payment Date Fund Line Amount (Debit) Vendor Memo Bill #231641127 1/31/2026 3/5/2026
302 - Cemetery
Capital Improvement 899.37 ST. FRANCIS ELECTRIC CIP 067-1 - Palomar Widening (16%) Bill #726010426 1/31/2026 3/5/2026
302 - Cemetery
Capital Improvement 540.00 GEOCON WEST, INC. CIP 067-1 - Cemetery Frontage, Jan 2026 Bill #61366704562/22/2026 3/5/2026300 - Cemetery 24.97 VERIZON WIRELESS 01/23/26-02/22/26 Cemetery/Comm Svs Bill #61366704562/22/2026 3/5/2026300 - Cemetery 38.83 VERIZON WIRELESS 01/23/26-02/22/26 Cemetery Bill #61366704562/22/2026 3/5/2026300 - Cemetery 38.83 VERIZON WIRELESS 01/23/26-02/22/26 Cemetery Bill #530592140312/3/2025 3/5/2026300 - Cemetery 338.70 CINTAS CORPORATION Cemetery First Aid & Safety Bill #022726-72582/27/2026 3/5/2026300 - Cemetery 136.85 EDISON 01/28/26-02/26/25 Elec 21400 Palomar (Cemetery) Bill #93616185502/28/2026 3/12/2026300 - Cemetery 150.08 CINTAS CORPORATION SD Eyewash Service Agreement Bill #451031 3/1/2026 3/12/2026300 - Cemetery 6.78 RIGHTWAY SITE SERVICES, INC.(2) Restroom Use, 21400 Palomar Street - Finance Charge Bill #446866 1/14/2026 3/12/2026300 - Cemetery 452.18 RIGHTWAY SITE SERVICES, INC.(2) Cemetery Restroom Maintenance/Service 01/12/26-02/08/26 Bill #80135372712/25/2026 3/12/2026300 - Cemetery 107.34 STERICYCLE, INC Contractual Shredding Svc Bill #001237 3/2/2026 3/12/2026 300 - Cemetery 270.00 GOPHER SQUAD Gopher & Insect Pest Control (Oct 2025 thru June 2026) - Wildomar Cemetery
Bill #1622 2/28/2026 3/12/2026300 - Cemetery 1,114.92 The Cleaning Squad Janitorial Services for Cemetery Bill #53149178051/27/2026 3/12/2026300 - Cemetery 41.76 CINTAS CORPORATION Hard Surface Disinfec Svc Bill #001211 1/31/2026 3/12/2026 300 - Cemetery 270.00 GOPHER SQUAD Gopher & Insect Pest Control (Oct 2025 thru June 2026) - Wildomar Cemetery
Bill #1630 3/11/2026 3/19/2026300 - Cemetery 100.00 BLENDMAGIC PRODUCTS LLCLandscape Maint. Materials Bill #70015 2/27/2026 3/19/2026300 - Cemetery 5,881.60 POLYGUARD & CO 15 Black Hercules Dome & Base Bill #3054785 12/31/2025 3/19/2026
302 - Cemetery
Capital Improvement 6,226.67 INTERWEST CONSULTING GROUP CIP 067 Palomar Widening, Gruwell to Wildomar Trail -
December 2025
Bill #79800 2/28/2026 3/19/2026 300 - Cemetery 3,530.00

ROGERS, ANDERSON, MALODY &,
SCOTT LLP February 2026 FY24/25 Audit - Cemetery District Bill #205360243 3/12/2026 3/19/2026300 - Cemetery 166.09 ULINE Departmental Supplies Bill #14119008 2/24/2026 3/19/2026 300 - Cemetery 321.73

ELSINORE VALLEY MUNICIPAL,
WATER DISTRICT 01/14/26-02/14/26 Water 24100 Palomar St Bill #192860 2/20/2026 3/19/2026 300 - Cemetery 70.00

DEANZA TERMITE & PEST CONTROL,
INC Pest Control Cemetery
Bill #449477 2/11/2026 3/31/2026300 - Cemetery 455.64 RIGHTWAY SITE SERVICES, INC.(2) Cemetery Restroom Maintenance/Service 02/09/26-03/08/26 TOTAL: 21,182.34
54 CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.4

Meeting Date: April
8, 2026
SUBJECT:

February 2026 City Treasury Report
SUBMITTED BY:

Adam Jantz, Finance Manager
PREPARED BY:

Adam Jantz, Finance Manager

ACTION:

Approve the City Treasury Report for February 2026.

SUMMARY:

February 2026 City Treasury Report

DISCUSSION:

Attached is the Treasury Report for Cash and Investments for the month of February 2026.

The City utilizes both the California State Treasurer’s Local Agency Investment Fund (LAIF) and the California Asset Management Program (CAMP) for city investments.

The City utilizes both CAMP’s investment pool and managed account for long-term investments. The average duration on the managed account is two years, to allow for sufficient liquidity while maintaining adequate returns.

Over this month, the City earned $119,377.80 in interest from its investment accounts.

ACCOUNT CODE:
100-1012
100-1011
110-1011
120-1011
201-1011
212-1011
300-1011
301-1011
420-1011
421-1011
440-1011
461-1011

FISCAL IMPACT:

This is only a report on balances for the City and therefore it has no fiscal impact.

ATTACHMENTS:

February 2026 City Treasury Report.pdf
55 BEGINNING + (-) ENDING

FUND ACCOUNT INSTITUTION BALANCE DEPOSITS WITHDRAWALS BALANCE RATE All All WELLS FARGO $ 7,187,752.37 $ 6,447,339.18 (5,707,125.42) $ 7,927,966.13 3.56598% TOTAL $ 7,187,752.37 $ 6,447,339.18 $ (5,707,125.42) $ 7,927,966.13

AVERAGE

PERCENT OF DAYS STATED
FUND BOOK VALUE FACE VALUE MARKET VALUE PORTFOLIO TO MAT. RATE 100 $ 5,402,859.32 $ 5,402,859.32 $ 5,402,859.32 12.38% N/A 3.871% Various $ 13,159,185.46 $ 13,159,185.46 $ 13,159,185.46 30.15% N/A 3.830% Various $ 24,344,280.89 $ 24,344,280.89 $ 25,078,472.18 57.47% 921 4.290% TOTAL $ 42,906,325.67 $ 42,906,325.67 $ 43,640,516.96 100.00% CITY $ 51,568,483.09

CASH AND INVESTMENT PORTFOLIO

TREASURY REPORT FOR

CITY OF WILDOMAR

CITY CASH

CITY INVESTMENT

TOTAL CASH AND INVESTMENTS
February 2026
ISSUER

CAMP POOL

LOCAL AGENCY INVESTMENT FUND

CAMP MANAGED ACCOUNT

WELLS FARGO,

15.4%

LOCAL AGENCY

INVESTMENT
FUND, 10.5%

CAMP POOL,

25.5%
CAMP

MANAGED

ACCOUNT,

48.6%
56 + + (-)

BEGINNING INTEREST WITHDRAWALS/ ENDING STATED

FUND BALANCE PURCHASES DEPOSITED SALES BALANCE RATE
100 General $ 5,402,859.32 $ 0.00 $ 0.00 $ 0.00 $ 5,402,859.32 3.871% 100 General $ 5,665,297.28 $ 0.00 $ 16,635.59 $ 0.00 $ 5,681,932.87 3.830% 120 AA $ 4,180,815.15 $ 0.00 $ 12,276.56 $ 0.00 $ 4,193,091.71 3.830% 461 DIF Park Imp. $ 2,816,735.56 $ 0.00 $ 8,271.07 $ 0.00 $ 2,825,006.63 3.830% 301 Endowment $ 457,809.94 $ 0.00 $ 1,344.31 $ 0.00 $ 459,154.25 3.830% 100 General $ 6,604,250.55 $ 0.00 $ 32,604.31 $ 0.00 $ 6,636,854.86 4.290% 110 Dev. Agrmnt. $ 3,401,934.02 $ 0.00 $ 16,629.14 $ 0.00 $ 3,418,563.16 4.290% 120 AA $ 6,714,558.79 $ 0.00 $ 33,102.15 $ 0.00 $ 6,747,660.94 4.290% 201 Measure A $ 1,249,053.05 $ 0.00 $ 6,136.57 $ 0.00 $ 1,255,189.62 4.290% 204 Waste Svcs. $ 1,113,016.05 $ 0.00 $ 5,486.04 $ 0.00 $ 1,118,502.09 4.290% 300 Cemetery $ 1,113,016.05 $ 0.00 $ 5,486.04 $ 0.00 $ 1,118,502.09 4.290% 420 Public Fac. $ 533,373.07 $ 0.00 $ 2,620.45 $ 0.00 $ 535,993.52 4.290% 421 Police Fac. $ 533,373.07 $ 0.00 $ 2,620.45 $ 0.00 $ 535,993.52 4.290% 440 DIF Roads $ 2,794,969.20 $ 0.00 $ 13,846.99 $ 0.00 $ 2,808,816.19 4.290% 461 DIF Park Imp. $ 167,359.23 $ 0.00 $ 845.66 $ 0.00 $ 168,204.89 4.290% TOTAL $ 42,748,420.34 $ 0.00 $ 157,905.33 $ 0.00 $ 42,906,325.67

CAMP MANAGED ACCOUNT

CAMP MANAGED ACCOUNT

CAMP MANAGED ACCOUNT

CAMP POOL

CAMP MANAGED ACCOUNT

CAMP MANAGED ACCOUNT

CAMP MANAGED ACCOUNT

CAMP MANAGED ACCOUNT

CAMP MANAGED ACCOUNT

CAMP MANAGED ACCOUNT

BREAKDOWN
In compliance with the California Code Section 53646, as Finance Manager for the City of Wildomar, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the City's expenditure requirements for the next six months, and that all investments are in compliance with the City's Statement of Investment Policy.

I also certify that this report reflects all Government Agency pooled investments and all of the City's Bank Balances.

CAMP POOL

LOCAL AGENCY INVESTMENT FUNDS
ISSUER

CAMP POOL

CAMP POOL

CAMP MANAGED ACCOUNT
Adam Jantz
Adam Jantz
City Treasurer
Date
3/16/2026
General, 41.3%
AA, 25.5%
DIF Park Imp.,

7.0%
Endowment, 1.1%
Dev.

Agrmnt.,

8.0%
Measure A, 2.9%
Waste Svcs., 2.6%
Cemetery, 2.6%
Public Fac., 1.2%
Police Fac., 1.2%
DIF
Roads,

6.5%
Fund Allocation
57 CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.5

Meeting Date: April
8, 2026
SUBJECT:

February 2026 Cemetery Treasury Report
SUBMITTED BY:

Adam Jantz, Finance Manager
PREPARED BY:

Adam Jantz, Finance Manager

ACTION:

Approve the Treasury Report for February 2026.

SUMMARY:

February 2026 Cemetery Treasury Report

DISCUSSION:

Attached is the Treasury Report for Cash and Investments for the month of February 2026.

ACCOUNT CODE:
300-1011
301-1011

FISCAL IMPACT:

This is only a report of balances for the Cemetery and therefore has no fiscal impact.

ATTACHMENTS:

February 2026 Cemetery Treasury Report.pdf
58 PERCENT

OF DAYS STATED
FUND BOOK VALUE FACE VALUE MARKET VALUE PORTFOLIO TO MAT. RATE 301 $ 459,154.25 $ 459,154.25 $ 459,154.25 28.49% N/A 3.830% 300 $ 1,118,502.09 $ 1,118,502.09 $ 1,152,487.54 71.51% 921 4.290% $ 1,577,656.34 $ 1,577,656.34 $ 1,611,641.79 100.00%
+ + WITHDRAWALS/

BEGINNING DEPOSITS/ INTEREST SALES/ ENDING STATED

FUND BALANCE PURCHASES DEPOSITED MATURITIES BALANCE RATE 301 $ 457,809.94 $ - $ 1,344.31 $ - $ 459,154.25 3.830% 300 $ 1,113,016.05 $ - $ 5,486.04 $ - $ 1,118,502.09 4.290% $ 1,570,825.99 $ - $ 6,830.35 $ - $ 1,577,656.34 City Treasurer
In compliance with the California Code Section 53646, as Finance Manager for the Wildomar Cemetery District, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the District's expenditure requirements for the next six months.

I also certify that this report reflects all Government Agency pooled investments and all of the District's Bank Balances.

Adam Jantz 3/16/2026
Adam Jantz Date
TOTAL

WILDOMAR CEMETERY DISTRICT

TREASURY REPORT FOR

CASH AND INVESTMENT PORTFOLIO
February 2026

DISTRICT INVESTMENT
ISSUER
ISSUER
TOTAL

CAMP POOL

CAMP MANAGED ACCOUNT

CAMP POOL

CAMP MANAGED ACCOUNT
59 CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.6

Meeting Date: April
8, 2026
SUBJECT:

Second Reading and Adoption of Ordinance No. 262 adding a chapter under Title 10 (Vehicles and Traffic) of the Municipal Code relating to bicycles and e-conveyances, including E- Bikes.

SUBMITTED BY:

Abdu Lachgar, Principal Planner
PREPARED BY:

Abdu Lachgar, Principal Planner

ACTION:

1. Determine that Municipal Code Amendment (DCA) No. 2026-01, and its adopting Ordinance No. 262, is exempt under the California Environmental Quality Act (CEQA) and CEQA Guidelines, pursuant to the common sense exemption, Section 15061(b)(3) of the CEQA Guidelines.

2. Conduct a second reading by title only and adopt Ordinance No. 262 amending Title 10 (Vehicles and Traffic) of the Wildomar Municipal Code, as entitled:

ORDINANCE NO. 262

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF WILDOMAR, CALIFORNIA, ADDING CHAPTER 10.56 (BIKES, E-BIKES, E-SCOOTERS AND E-SKATEBOARDS) TO TITLE 10 (VEHICLES AND TRAFFIC) OF THE WILDOMAR MUNICIPAL CODE RELATING

TO BICYCLES, ELECTRIC BICYCLES, ELECTRIC SCOOTERS AND ELECTRIC

SKATEBOARDS
SUMMARY:
2nd Reading and Adoption of Ordinance No. 262 amending Title 10 (Vehicles and Traffic) of the Wildomar Municipal Code relating to bicycles and e-conveyances, including E-Bikes.

BACKGROUND:

At its March 11, 2026 meeting, the City Council introduced Ordinance No. 262, approving Municipal Code Amendment 2026-01. The ordinance is now being presented to the City Council for a second reading by title only and adoption. Additionally, on March 11, 2026, the City Council also determined that MCA 2026-01 and its adopting ordinance is exempt from the California Environmental Quality Act (CEQA) as a commonsense exemption under Section 15061(b)(3) of the CEQA Guidelines.

FISCAL IMPACT:

The fiscal impacts associated with the drafting, legal review, and implementation of this ordinance are covered by the Department’s Operating Budget of General Fund.

ATTACHMENTS:
60 Attach A - Ordinance 262.docx
61 ORDINANCE NO. 262

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
WILDOMAR, CALIFORNIA, ADDING CHAPTER 10.56 (BIKES,

E-BIKES, E -SCOOTERS AND E -SKATEBOARDS) TO TITLE
10 (VEHICLES AND TRAFFIC) OF THE WILDOMAR

MUNICIPAL CODE RELAT ING TO BICYCLES, ELE CTRIC

BICYCLES, ELECTRIC SCOOTERS AND ELECTRI C

SKATEBOARDS
WHEREAS, electric bicycles, electric scooters, and electric skateboards (collectively, " E -Conveyances") are an ever - growing public safety concern. With the increasing popularity and usage of E- Conveyances, traffic accidents involving individuals operating E- Conveyances and motor vehicles have increased, necessitating rules and regulations applicable to these devices to ensure a safer community; and WHEREAS, individuals involved in E -Conveyance traffic accidents tend to suffer more serious injuries when compared to traditional bicycle accidents; and WHEREAS, collisions involving E -Conveyances and motor vehicles result in greater damage to all vehicles and property involved; and WHEREAS, in accordance with the Wildomar Municipal Code, the City Council has the authority to take action on the proposed municipal code amendment to Title 10 of the Wildomar Municipal Code; and
WHEREAS, in accordance with the Wildomar Municipal Code, the City Council conducted a public meeting on March 11, 2026, at which time interested persons had an opportunity to testify in support of, or opposition to the proposed amendment to Title 10 of the WMC, and at which time the City Council received public testimony concerning said amendment.

THE CITY COUNCIL OF THE CITY OF WILDOMAR HEREBY DOES ORDAIN AS FOLLOWS:

SECTION 1: AMENDMENT OF TITLE 10 OF THE W ILDOMAR MUNICIPAL CODE.

Title 10 (Vehicles and Traffic) of the Wildomar Municipal Code is hereby amended to read as illustrated in Exhibit 1 of this Ordinance.

SECTION 2. SEVERABILITY
If any Chapter, 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 62 court of competent jurisdiction, such decision will 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 Chapter, subsection, subdivision, sentence, clause, phrase, or portion thereof, irrespective of the fact that any one or more Sec tions, subsections, subdivisions, sentences, clauses, phrases, or portions thereof be declared invalid or unconstitutional.

SECTION 3. EFFECTIVE DATE.

This ordinance shall take effect thirty (30) days after its passage by the City Council.

SECTION 4. CITY CLERK ACTION
The City Clerk is authorized and directed to cause this Ordinance to be published within fifteen (15) days after its passage in a newspaper of general circulation and circulated within the City in accordance with Government Code Chapter 3 6933(a) or, to cause this Ordinance to be published in the manner required by law using the alternative summary and posting procedure authorized under Government Code Chapter 36933(c).

APPROVED AND ADOPTED this 8th day of April 2026.

_____________________
Carlos Marquez
Mayor

APPROVED AS TO FORM: ATTEST:

____________________________ ___________________________ Thomas D. Jex Janet Morales Garcia, CMC
City Attorney City Clerk

63 EXHIBIT 1
CHAPTER 10.56 (BIKES, E-BIKES, E-SCOOTERS AND E-SKATEBOARDS) OF THE WMC

64 Sections:

10.56.010 Purpose and Intent

10.56.020 Applicability of Traffic Laws

10.56.030 Obedience to Traffic-Control Devices

10.56.040 Riding on Roadway and Bicycle Lanes

10.56.050 Use of Streets Restricted

10.56.060 Yielding Right-Of-Way

10.56.070 Leaving Bicycle Lane

10.56.080 Riding and Operation

10.56.090 Parking

10.56.100 Method of Riding; Number of Riders

10.56.110 Speed

10.56.120 Equipment

10.56.130 Age Restrictions

10.56.140 Use of Headphones or Earbuds

10.56.150 Lights and Reflectors

10.56.160 Designation

10.56.170 Motor Vehicle Usage

10.56.180 Definitions

10.56.190 Enforcement

§ 10.56.010 PURPOSE AND INTENT.

This chapter shall apply to the use of bicycles and E-Conveyances, as defined herein, in conformity with State law, and shall apply to any bicycle or E-Conveyance operated upon any street or sidewalk, right-of-way, public property, or upon any public path set aside for the use of bicycles or E-Conveyances within the City' s jurisdiction. The provisions contained herein are enacted pursuant to Vehicle Code Division 16.7 (Vehicle Code § 39000 et seq.), and any rules and regulations adopted thereunder pertaining to the licensing of bicycles, and California Vehicle Code § 21206 pertaining to the regulation of the operation, use and equipment of bicycles. This chapter is not intended to conflict in any way with the provisions thereof.

§ 10.56.020 APPLICABILITY OF TRAFFIC LAWS.

Except where California law expressly provides otherwise, every person riding a bicycle or E- Conveyance upon a street or sidewalk shall be granted or E-Conveyance upon a street or sidewalk shall be granted all of the rights and shall be subject to all of the duties applicable to the 65 driver of a vehicle by the laws of the State pertaining to the rules of the road, or by the terms of this code or other ordinances of this City applicable to the driver of a vehicle, except as to those provisions which by their nature can have no application to bicycles or E-Conveyances, and except as otherwise provided in this Chapter.

§ 10.56.030 OBEDIENCE TO TRAFFIC-CONTROL DEVICES.

It shall be unlawful for any person operating a bicycle or E-Conveyance to fail to obey the instructions of official traffic-control signs and other traffic-control devices applicable to vehicles or bicycles, unless otherwise directed by a police officer.

§ 10.56.040 RIDING ON ROADWAYS AND BICYCLE LANES.

A) Any person operating a bicycle or E-Conveyance upon a roadway at a speed less than the normal speed of traffic moving in the same direction at such time shall ride as close as practicable to the right- hand curb, edge of the roadway, or bike lane, except under any of the following situations:

1) When overtaking and passing another bicycle, E-Conveyance or vehicle proceeding in the same direction.

2) When preparing for a left turn at an intersection or onto a private road or driveway.

3) When reasonably necessary to avoid conditions (including, but not limited to, fixed or moving objects, vehicles, bicycles, pedestrians, animals, surface hazards, or substandard width lanes) that make it unsafe to continue along the right- hand curb or edge.

B) Any person operating a bicycle or E-Conveyance upon a roadway or a highway, which highway carries traffic in one direction only and has two or more marked traffic lanes, may ride as near the left-hand curb or edge of such roadway as practicable.

C) Persons riding bicycles or E-Conveyances upon a roadway or bike lane shall not ride more than two abreast.

§ 10.56.050 USE OF STREETS RESTRICTED.

Riding or operating a bicycle or E-Conveyance on any street within the City is permitted in accordance with the California Vehicle Code, unless specifically prohibited by this Chapter.

§ 10.56.060 YIELDING RIGHT-OF-WAY.

The operator of a bicycle or E-Conveyance emerging from an alley, driveway, bicycle path, building or otherwise approaching a sidewalk or sidewalk area shall yield the right-of-way to all pedestrians on such sidewalk or sidewalk area, and upon entering a bicycle lane or roadway, shall yield the right-of-way to all vehicles or bicycles on the roadway.

§ 10.56.070 LEAVING BICYCLE LANE.

A) Whenever a bicycle lane has been established, any person operating a bicycle or E- Conveyance upon the roadway at a speed of less than the normal speed of traffic moving in the same direction shall ride within the bicycle lane, except that such person may move 66 out of the lane under any of the following situations:

1) When overtaking and passing another bicycle, vehicle, E- Conveyance or pedestrian within the lane or about to enter the lane if such overtaking and passing cannot be done safely within the lane.

2) When preparing for a left turn at an intersection or onto a private road or driveway.

3) When it is reasonably necessary to leave the bicycle lane to avoid debris or other hazardous conditions (including, b ut not limited to, fixed or moving objects, vehicles, bicycles, pedestrians, animals, surface hazards, or substandard width lanes).

4) When approaching a place where a right turn is authorized.

B) No person operating a bicycle or E- Conveyance within a bicycle lane shall leave such lane until movement can be made with reasonable safety, and then only after giving the appropriate signal in the manner provided in Vehicle Code Division 11, Chapter 6 (Vehicle Code § 22100 et seq.) in the event that any vehicle may be affected by the movement.

§ 10.56.080 RIDING AND OPERATION.

A) Riding bicycles and E- Conveyances on any sidewalk, bicycle path, bicycle trail, multi-use trail, or roadway is permitted unless prohibited by appropriate signs authorized by the terms of this Chapter.

B) Whenever any person is riding a bicycle or E-Conveyance upon a bicycle path, or bicycle trail, such person shall yield the right- of-way to any pedestrian or person on horseback and shall give an audible signal before overtaking and passing pedestrians.

C) No person shall ride or operate a bicycle or E-Conveyance upon any playground, park, or school ground not specifically designated as a bicycle path or route, unless specifically posted as authorized for such use.

D) No person shall operate a bicycle or E-Conveyance on a bicycle path or bicycle trail at a speed greater than 20 miles per hour, and in no event at a speed greater than is reasonable or prudent under the existing conditions, or at a speed greater than a posted speed limit, or at a speed which endangers the safety of persons and/ or property.

E) When posted, no person shall operate a bicycle or E-Conveyance at any City special events.

F) The operator of a bicycle or E-Conveyance shall travel in the same direction as vehicles are required to be driven upon the roadway, regardless of whether or not the operator is in the roadway or in a bike lane.

G) The operator of a bicycle or E-Conveyance shall not allow a person riding as a passenger, and a person shall not ride as a passenger, on a bicycle or E-Conveyance upon a highway other than upon or astride a separate seat attached thereto. The section does not apply 67 to any type of bicycle or E -Conveyance with an original factory seat designed to collectively accommodate the operator and passenger. If the passenger is four years of age or younger, or weighs 40 pounds or less, the seat shall have adequate provision for retaining the passenger in place and for protecting the passenger from the moving parts of the bicycle.

H) The City may prohibit the riding or operation of bicycles and E -Conveyances on designated sidewalks or sidewalk segments by posting appropriate signs in accordance with this chapter.

Where such signs are posted, no person may ride or operate a bicycle or E-Conveyance on the posted sidewalk or sidewalk segment.

§ 10.56.090 PARKING.

No person shall leave a bicycle or E-Conveyance lying on its side on any sidewalk, nor park a bicycle or E-Conveyance upon the public right- of-way, including bike lanes and paths, or against a building or at a curb, except in such a manner as to afford the least obstruction to pedestrian traffic. Where appropriate signs are posted, no person shall park a bicycle or E -Conveyance on a public highway in the area designated by those signs.

§ 10.56.100 METHOD OF RIDING; NUMBER OF RIDERS.

No person operating a bicycle or E-Conveyance shall allow more persons at one time than the number for which the bicycle or E-Conveyance is designed and equipped.

§ 10.56.110 SPEED.

No person may operate a bicycle or E-Conveyance at a speed greater than is reasonable and prudent under the existing conditions, and in no event at a speed which endangers the safety of persons or property. Posted speed limits govern where installed. In the absence of a posted limit, the reasonable and prudent standard applies. On City-owned trails, paths, and parks, each bicycle and E-Conveyance operator must comply with any speed limit that is posted for that facility, and must not travel at a speed greater than is reasonable and prudent under existing conditions or that endangers the safety of persons or property.

§ 10.56.120 EQUIPMENT.

Every bicycle, Electric Bicycle, Motorized Bicycle, and other E-Conveyance, when operated within the City, must comply with all applicable equipment requirements of the California Vehicle Code, including, without limitation, section 21201 and any device-specific provisions required under California law, as well as any additional requirements set forth in this chapter.

§ 10.56.130 AGE RESTRICTIONS.

A) Minors under 18. A person under 18 years of age must wear a properly fitted and fastened bicycle helmet that meets applicable safety standards when operating a bicycle or Electric Bicycle, or riding as a passenger on a bicycle or Electric Bicycle, on any street, bikeway, or other public bicycle path or trail within the City, including when riding in a child seat or in a trailer towed by a bicycle. This subsection is intended to be consistent with Vehicle Code section 21212, as that section may be amended from time to time.

B) Class 3 Electric Bicycles – age and helmet. A person under 16 years of age must not operate a Class 3 Electric Bicycle. A person must not operate a Class 3 Electric Bicycle, or ride as a passenger on a Class 3 Electric Bicycle, on any street, bikeway, or other public bicycle path or trail within the City unless that person is wearing a properly fitted and fastened bicycle helmet that 68 meets applicable safety standards. This subsection is intended to be consistent with Vehicle Code section 21213, as that section may be amended from time to time.

C) Sale of Electric Bicycles to minors. No person may sell a Class 3 Electric Bicycle to a person under 16 years of age. This subsection is in tended to be consistent with Vehicle Code section 21212.5, as that section may be amended from time to time.

D) Enforcement. The helmet and age requirements in this section may be enforced through citations issued under state law or this code, including any diversion or correction procedures that may be provided in Vehicle Code section 21212 or similar state provisions, as those provisions may be amended from time to time.

§ 10.56.140 USE OF HEADPHONES OR EARBUDS.

A) A person operating a bicycle or E -Conveyance must not wear headphones, earphones, earbuds, earplugs, or any similar device in a way that covers, rests on, or is inserted in both ears while operating on any street, highway, bikeway, or bicycle path within the City.

B) A person operating a bicycle or E-Conveyance may use a single earbud, earphone, or similar device in one ear, so long as the other ear remains unobstructed and the device is not otherwise prohibited by California law.

C) This section is intended to be consistent with California Vehicle Code section 27400, as that section may be amended from time to time.

§ 10.56.150 LIGHTS AND REFLECTORS.

Every bicycle and Electric Bicycle operated within the City shall comply with the lighting and reflector requirements set forth in California Vehicle Code section 21201, as that section may be amended from time to time. These requirements generally include, among other things, the use of a white front light, a red rear reflector or light, and wheel or side reflectors when operated during hours of darkness.

§ 10.56.160 DESIGNATION.

A) The City's Director of Public Works/City Engineer is authorized to erect or place and maintain signs on any sidewalk, roadway, or public property prohibiting the riding of bicycles and/or E - Conveyances by any person thereon.

B) The City' s Director of Public Works is authorized to erect or place and maintain signs upon any street, or adjacent to any street in the City, indicating the existence of a bicycle path, lane or route, or otherwise regulating the operation and use of vehicles, bicycles, and E-Conveyances with respect thereto, as long as the same are consistent with this Chapter.

Where such a sign is erected, such other designation, including but not limited to appropriate painting or such other devices as the City' s Director of Public Works shall determine, will provide sufficient notice of the existence of the bicycle path, lane or route. Said signage shall conform with the provisions established by the California Manual on Uniform Traffic Control Devices.

§ 10.56.170 MOTOR VEHICLE USAGE.

No person shall operate any motorized vehicle upon any bicycle lane or path, except to park when permitted, or to enter or leave the roadway, or to prepare for a turn within a distance of 200 feet from the intersection. Nothing in this section shall be deemed or construed to prohibit any bus 69 owned and operated by a public transportation district or other authorized transportation agencies from driving upon such bicycle lanes within 150 feet of any bus stop approved by the City. Motor vehicle parking is prohibited in bicycle lanes, provided such restriction is appropriately posted.

This section does not prohibit the use of a motorized bicycle in a bicycle lane, pursuant to Vehicle Code § 21207.5, at a speed no greater than is reasonable or prudent, having due regard for visibility, traffic conditions, and the condition of the roadway surface of the bicycle lane, and in a manner which does not endanger the safety of persons or property.

§ 10.56.180 DEFINITIONS.

For purposes of this chapter, the following terms have the meanings set forth in this section.

Where a term is defined in the California Vehicle Code, that statutory definition governs and is incorporated here by reference, as it may be amended from time to time.

BICYCLE. Any device upon which a person may ride which is propelled by human power through a system of belts, chains or gears, and having one or more wheels. " Bike" shall mean the same as " Bicycle," and the terms may be used interchangeably.

BICYCLE LANE. The portion of the roadway which has been separated from any vehicular lanes by a solid white line or other pavement marking or defined for bike riders by appropriate signage.

BICYCLE PATH OR BICYCLE TRAIL. A path that provides a completely separated right- of-way from vehicular traffic designated for the exclusive use of bicycles and pedestrians with crossflows by motorists minimized.

BICYCLE ROUTE. A suggested route of travel for bicycle riders. A " bicycle route" may offer no physical protection to the bike rider and is normally defined for the bicycle rider only by a sign indicating " bike route," which defines a suggested route of a bicycle system and provides a certain awareness for the motorist that bicycle riders are sharing the roadway.

E-CONVEYANCE. Includes any Electric Bicycle, Electric Scooter, Electric Skateboard , Electrically motorized Board , or other device propelled by an electric motor and designed to transport 1 or more persons, as defined in the California Vehicle Code.

ELECTRIC BICYCLE. An electric bicycle, or " E-Bike", which is a bicycle equipped with fully operable pedals and an electric motor of less than 750 watts, and is categorized by the following, per California Vehicle Code section 312.5, as may be amended:

1) Class 1 - an electric bicycle equipped with a motor that provides assistance only when the rider is pedaling, and that ceases to provide assistance when the bicycle reaches a speed of 20 miles per hour.

2) Class 2 - an electric bicycle equipped with a motor that may be used exclusively to propel the bicycle, and that is not capable of providing assistance when the bicycle reaches a speed of 20 miles per hour.

70 3) Class 3 - an electric bicycle equipped with a motor that provides assistance only when the rider is pedaling, and that ceases to provide assistance when the bicycle reaches a speed of 28 miles per hour and is equipped with a speedometer.

ELECTRIC SCOOTER OR E-SCOOTER. A two or three -wheeled device that has handlebars, a floorboard that is designed to be stood on while riding and is powered by an electric motor. This device may also have a driver seat that does not interfere with the ability of the rider to stand and ride, and may also be designed to be powered by human propulsion.

ELECTRIC SKATEBOARD OR E -SKATEBOARD. A n up to four-wheeled device that has a floorboard that is designed to be stood on while riding and is powered by an electric motor.

ELECTRICALLY MOTORIZED BOARD. Has the same meaning as set forth in California Vehicle Code section 313.5, as that section may be amended.

HIGHWAY. A way or place of whatever nature, publicly maintained and open to the use of the public for purposes of vehicular travel. Highway includes street.

MOTORIZED BICYCLE. Any two -wheeled or three -wheeled device having fully operative pedals for propulsion by human power or having no pedals if powered solely by electrical energy, has an automatic transmission, and a motor which produces less than four gross brake horsepower and is capable of propelling the device at a maximum speed of not more than 30 miles per hour on level ground, per California Vehicle Code section 406, as may be amended.

§ 10.56.190 ENFORCEMENT.

A) Parental responsibility. The parent of any child and the guardian of any ward shall not authorize or knowingly permit any minor child or ward to violate any of the provisions of this Chapter.

B) Penalty for violations. Every person violating any provisions of this Chapter shall be subject to the penalties provided for in Chapter 1.16 of the Wildomar Municipal Code.

C) Infraction, Fines, and Penalties. Any person who violates this chapter is guilty of an infraction and punishable by a fine as set forth in Chapter 1.16 of the Wildomar Municipal Code. This chapter may also be enforced via administrative or civil actions as authorized by Chapter 1.16 of the Wildomar Municipal Code.

D) An electric bike shall meet the following criteria consistent with California Vehicle Code sections 312.5 and 24016, as those sections may be amended:

1) Comply with the equipment and manufacturing requirements for bicycles adopted by the United States Consumer Product Safety Commission (16 C. F. R. 1512. 1, et seq.).

2) Operate in a manner so that the electric motor is disengaged or ceases to function when the brakes are applied or operate in a manner such that the motor is engaged through a switch or mechanism that, when released or deactivated, will cause the electric motor to disengage or cease to function.

71 3) A person shall not tamper with or modify an electric bicycle so as to change the speed capability of the device, unless he or she appropriately replaces the label indicating the appropriate classification.

4) A device that has been modified so that it no longer meets the definition of an “electric bicycle” under California Vehicle Code section 312.5 is not considered an electric bicycle for purposes of this Chapter and must comply with any other applicable California law governing motorized devices
72 CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.7

Meeting Date: April
8, 2026
SUBJECT:

Acceptance of FY2024-25 Annual Comprehensive Financial
Report and Cemetery District Financial Statement
SUBMITTED BY:

Adam Jantz, Finance Manager
PREPARED BY:

Adam Jantz, Finance Manager

ACTION:

Receive and file the FY2024-25 Annual Comprehensive Financial Report and Cemetery District Financial Statement.

SUMMARY:

Acceptance of FY2024-25 Annual Comprehensive Financial Report and Cemetery Report

DISCUSSION:

The firm of Roger, Anderson, Malody, & Scott LLP performed the annual financial audit of the City of Wildomar, and prepared the Annual Comprehensive Financial Report or ACFR as well as the Cemetery District statement.

This audit is required to be performed in accordance with Generally Accepted Accounting Standards and Government Auditing Standards. At the end of the audit test work, the audit firm issues an opinion as to the fairness of presentation of the financial position of the City.

The following statement was issued by the auditors in their Independent Audit's Report under Opinions:

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

This signifies that the City received a clean opinion on its financial statements.

Some highlights from the audit report are:

The balances of the General Funds (Including Funds 100, 103, 105, 110, 125, and 130) on June 30, 2025 were $15,140,515 in total. Of this, $10,283,691 is the main City General Fund 100. This represents 54.8% of actual General Fund operating expenditures in fiscal year 2024-25.

The Measure AA Fund brought in $5,940,906 in district sales and use taxes in its sixth 73 full year. The fund balance for the fund on June 30, 2025, was $10,295,223.

The Wildomar Cemetery District financial activities are included in both the ACFR and in a separate Cemetery Statement.

The combined ending Cemetery Fund balances were $1,410,164.

The Cemetery General Fund ending balance was $888,651.

In summary:

1. The audit covers more than 58 governmental funds.

2. The audit reports indicate a clean opinion on the City's financial statements.

3. The Management Letter includes two findings which management has addressed.

FISCAL IMPACT:

This is only for acceptance of the audited financial report for FY2024-25 and does not convey any appropriations or budget adjustments. Therefore, this item does not present any direct fiscal impact.

ATTACHMENTS:

FY2024-25 City of Wildomar ACFR.pdf
FY2024-25 City of Wildomar GAGAS.pdf
FY2024-25 City of Wildomar Post SAS-114.pdf
FY2024-25 City of Wildomar Management Comment Letter.pdf FY2024-25 City of Wildomar Gann Report.pdf
FY2024-25 Cemetery Financial Statement.pdf
FY2024-25 SAS 114 Cemetery.pdf
74 75

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76 City of Wildomar, California

ANNUAL COMPREHENSIVE FINANCIAL REPORT

For the Year Ended June 30, 2025

Prepared By:

The City of Wildomar
Finance Department
77 THIS PAGE INTENTIONALLY LEFT BLANK
78 City of Wildomar

Annual Comprehensive Financial Report
For the Year Ended June 30, 2025

TABLE OF CONTENTS

INTRODUCTORY SECTION:

Letter of Transmittal ....................................................................................................... ......... i Staff Directory ............................................................................................................. .......... ix City Organization Chart ..................................................................................................... ..... x

FINANCIAL SECTION

Independent Auditor’s Report ................................................................................................. 1 Management’s Discussion and Analysis ................................................................................ 4 Basic Financial Statements:

Government-wide Financial Statements
Statement of Net Position ......................................................................................... 20 Statement of Activities .............................................................................................. 21 Fund Financial Statements
Balance Sheet – Governmental Funds .................................................................... 22 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position ................................................................................... 23 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds .......................................................................................... 24 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ........... 26 Statement of Fiduciary Net Position – Custodial Funds ........................................... 27 Statement of Changes in Fiduciary Net Position – Custodial Funds ........................ 28 Notes to Financial Statements ....................................................................................... 29

Required Supplementary Information:

Budgetary Comparison Schedule by Department – General Fund ................................ 66 Budgetary Comparison Schedule by Function – Development Impact Fees ................. 67 Budgetary Comparison Schedule by Function – Measure AA ....................................... 68 Budgetary Comparison Schedule by Function – Grants ................................................ 69 Schedule of the City’s Proportionate Share of the Net Pension Liability and Related Ratios as of the Measurement Date .................................................... 70 Schedule of Contributions - CalPERS Pension Plan ..................................................... 71 Schedule of Changes in Net OPEB Liability and Related Ratios ................................... 72 Notes to Required Supplementary Information .............................................................. 73

Supplementary Information:

Non-Major Governmental Funds
Combining Balance Sheet ........................................................................................ 74 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ................................................................................................... 77

79 City of Wildomar

Annual Comprehensive Financial Report
For the Year Ended June 30, 2025

TABLE OF CONTENTS (Continued)

Supplementary Information (Continued)
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Special Revenue Funds
Gas Tax ................................................................................................................... . 80 Air Quality Management District ............................................................................... 81 Measure A ................................................................................................................ 82 SLESF ..................................................................................................................... . 83 T D A ....................................................................................................................... 84 Community Development Block Grant ..................................................................... 85 Measure Z Park ........................................................................................................ 86 2022-1 Special Tax A .............................................................................................. 87 Water Services ........................................................................................................ 88 Cemetery District ...................................................................................................... 89 ARPA ....................................................................................................................... 90 2022-2 Special Tax B .............................................................................................. 91 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Capital Projects Funds
Capital Projects ........................................................................................................ 9 2 Assessment Districts ............................................................................................... 93 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Debt Service Fund
Streetlight Fund ........................................................................................................ 9 4 Combining Statement of Fiduciary Net Position
Custodial Funds ........................................................................................................ 95 Combining Statement of Changes in Fiduciary Net Position Custodial Funds ........................................................................................................ 96

STATISTICAL SECTION

Table of Contents ........................................................................................................... ...... 97 Financial Trends:

Net Position by Component ...................................................................................... 98 Changes in Net Position ......................................................................................... 100 Fund Balances of Governmental Funds ................................................................. 104 Changes in Fund Balances of Governmental Funds .............................................. 106 Revenue Capacity:

Assessed Value and Estimated Actual Value of Taxable Property ........................ 108 Direct and Overlapping Property Tax Rates ........................................................... 109 Principal Property Tax Payers ................................................................................ 111 Property Tax Levies and Collections ...................................................................... 112 Debt Capacity:

Ratio of Outstanding Debt by Type ........................................................................ 113 Direct and Overlapping Governmental Activities Debt ........................................... 114 Legal Debt Margin Information ............................................................................... 115

80 City of Wildomar

Annual Comprehensive Financial Report
For the Year Ended June 30, 2025

TABLE OF CONTENTS (Continued)

Demographic and Economic Statistics:

Demographic and Economic Status ....................................................................... 117 Operating Information:

Principal Employers ................................................................................................ 118 Full-time Equivalent City Government Employees by Function / Program ............. 119 Operating Indicators by Function / Program ........................................................... 121 Capital Asset Statistics by Function / Program ...................................................... 123 Miscellaneous Statistics ......................................................................................... 125 81 THIS PAGE INTENTIONALLY LEFT BLANK
82 INTRODUCTORY SECTION
83 THIS PAGE INTENTIONALLY LEFT BLANK
84 Carlo
s Marquez, Mayor, Dist. 1 City of Wildomar
Dustin Nigg, Mayor Pro Tem, Dist. 2 23873 Clinton Keith Rd, Ste. 110 Ashlee DePhillippo, Council Member, Dist. 5 Wildomar, CA 92595 Bridgette Moore, Council Member, Dist. 4 951.677.7751 Phone Joseph Morabito, Council Member, Dist. 3 www.wildomar.gov Le
tter of Transmittal
March 17, 2026
To t
he Honorable Mayor, Members of the City Council, and Residents of the City of Wildomar:

On b
ehalf of the Management Team and City Staff, we are privileged to submit the Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2025.

The information found in this report is provided by the Finance Department to the City Council and the public to assist those interested in the City’s fiscal condition.

St
ate law and the City’s Municipal Code require that an annual financial report be prepared annually. The submitted report fulfills that obligation. This report consists of management representations concerning the finances of the City of Wildomar in its seventeenth year of incorporation. Consequently, management assumes full responsibility for the completeness and reliability of the information presented in this report.

To pr
ovide a reasonable basis for making these representations, the management of the City of Wildomar continues to maintain a comprehensive internal control framework.

This framework is designed to protect the government's assets from loss, theft, or misuse.

Simultaneously, it empowers City staff to prepare the City of Wildomar's financial statements in accordance with generally accepted accounting principles (GAAP) and the financial reporting requirements outlined by the Governmental Accounting Standards Board (GASB). Recognizing that the cost of internal controls should not outweigh their benefits, the City of Wildomar's comprehensive framework of internal controls is designed to provide reasonable, rather than absolute, assurance regarding the accuracy of the financial statements. As responsible management, we affirm that, to the best of our knowledge and belief, this financial report is complete and dependable in all material aspects.

The f
inancial statements of the City of Wildomar underwent an independent audit conducted by Rogers, Anderson, Malody, and Scott, LLP., a certified public accounting firm. The primary objective of this independent audit was to offer reasonable assurance regarding the accuracy of the City of Wildomar's financial statements for the fiscal year ending June 30, 202 5, with the aim of detecting any significant misstatements. This comprehensive audit involved a thorough examination of pertinent evidence that supports the figures and disclosures in the financial statements, an evaluation of the accounting -i-
85 pri
nciples applied and managerial assumptions, as well as an assessment of the overall presentation of the financial statements.

The i
ndependent auditor's report is presented as the first component of the financial section of this report. GAAP requires that management provides a narrative of introductions, overview, and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A).

Thi
s letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The City of Wildomar's MD&A can be found immediately following the report of the independent auditors, in the financial section of this report.

Profile of the Government
The
area of Wildomar, located in southwestern Riverside County, was incorporated as a city on July 1 st, 2008. The City is approximately 70 miles north of San Diego and 60 miles southeast of Los Angeles. Its boundaries encompass 24 square miles, providing a “Community Ranch” lifestyle for its 37,077 residents.

The C
ity Council is composed of 5 Council Members, who are elected by district without party affiliation. Every year, the Council Members choose a Mayor and Mayor Pro Tem from among themselves. Biennial elections occur in November during even- numbered years. The terms of office span 4 years but overlap, ensuring that the City maintains a consistent pool of knowledge in its governance and legislative affairs.

The C
ouncil is responsible for adopting ordinances, resolutions, and regulations governing the City and for the appointment of the City Manager, City Attorney, and members of various statutory and advisory boards. As Chief Administrative Officer, the City Manager has the responsibility of administering programs in accordance with policies established by the City Council and within the guidelines of the annual budget adopted by the Council.

The W
ildomar Cemetery District (District) was consolidated into the City of Wildomar as a subsidiary district on November 9, 2011. As a result, the structure of the District is a separate legal entity, and the City Council of the City of Wildomar oversees the operations of the District with the City Council acting as the Board of Trustees.

Thi
s report includes all funds of the City. It includes all governmental organizations and activities for which the City of Wildomar’s City Council is financially accountable. The City provides the full range of municipal services normally associated with a municipality including general administration, police and fire protection under county contract , construction and maintenance of streets and related infrastructure, recreational activities, and economic development.
-ii-
86 The operations of the Wildomar Cemetery District are presented as a blended component unit in the financial statements. A separate component unit financial statement is also created and may be obtained from the City.

The Budget Process
The City Council adopted a Biennial budget for Fiscal Years 2023/24 and 2024/25 at a public meeting held on June 14 th, 2023. Since the adoption date, several changes have occurred through the FY 2024-25 Quarterly Budget Reviews.

The
biennial budget serves as the foundation for the City of Wildomar's financial planning and control. The development of the budget is completed as two separate projects: the development of the governmental activities program budget, and the development of the capital improvement program focusing on longer -term capital projects.

Eac
h department within the City of Wildomar submits appropriation requests for all governmental activities to the City Manager no later than the conclusion of April.

Subsequently, the City Manager, in collaboration with the Finance Department, utilizes these requests as the initial foundation for crafting a proposed budget for governmental activities.

Begi
nning in March, a series of budget workshops are convened to gather input from the public and to present the proposed budget encompassing all governmental activities to the City Council for their review and feedback. Typically, the governmental activities budget is officially adopted during the Council meeting held in June.

Factors Affecting Financial Condition
The i
nformation presented in the financial statements is perhaps best understood when it is considered from the broader perspective of the specific environment within which the City of Wildomar operates.

Local Economy
The C
ity of Wildomar, now in its seventeenth year since incorporation, is enjoying steady and sustained growth. The city boasts a median age of 35 and a per capita personal income of $44,171, marking a notable 7.8% increase compared to the fiscal year 2023-24.

Pr
operty valuations have also seen a positive uptick, rising by 8.2% compared to the fiscal year 2023-24 . Bradley Burns sales tax revenue in creased by 1.4% due to increased sales volume. Additionally, the City has received its eighth annual installment -iii-
87 of SB 130 Funds, which were authorized by Governor Brown on May 12, 2017. These funds serve as a replacement for the Motor Vehicle License Fee payments, which the State had previously redirected in 2012, following the provisions of SB 89 in 2011. In fiscal year 2024-25, the City received $3,739,028 which represents an 8.1% increase over the prior year.

T
he charts below and on the next page illustrate the trends for the last ten years in taxable property net assessed value, property tax revenue, and sales tax revenue.

Chart 1.

C
hart 2.
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88 Chart 3.

Coronavirus (COVID-19) Pandemic
In M
arch 2020, the State of California and Riverside County issued “Safer at Home” orders to address the growing spread of the Coronavirus Disease 2019 (COVID - 19) virus. This order applied to everyone in non- essential job classifications. It was anticipated that some of the local revenue streams, particularly sales tax, would be negatively impacted by this order. In actuality, the City saw only slight decreases in the Bradley Burns sales tax. These were offset by increases in the Measure AA sales tax which incorporates online retail sales.

On M
arch 27, 2020, the City Manager, acting in the capacity of the City's Director of Emergency Services, issued Director of Emergency Services Order No. E -2020-01 ("Order"). This action was taken in accordance with Wildomar Municipal Code ("WMC") section 2.32.060 and Section 4 of Resolution No. 2020- 19, which declared a local emergency in response to the COVID -19 pandemic. These provisions granted the Director of Emergency Services the authority to establish rules and regulations addressing matters reasonably connected to safeguarding life and property during the emergency. Subsequently, these regulations were formally ratified by the City Council during its meeting on April 8, 2020. The Order had the effect of temporarily suspending the enforcement of spec ific provisions of the WMC and either reducing or entirely suspending certain fee requirements.

To as
sist in recovering from the pandemic, the City received $459,103 in CARES Act Funding from the Federal Government via the State of California. The funds were fully utilized in FY2020-21.
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89 In June 2021 the City was notified that it would be receiving $8,905,968 in American Rescue Plan Act (ARPA) funding. Eligible expenses became applicable starting in March 2021. All allocated funding had to be obligated by December 2024, and all expenditures must be finalized by December 2026. The utilization of ARPA funding must adhere to the guidelines outlined in the U.S. Treasury's Final Rule, published in January 2022. This rule encompasses a $10 million allowance for revenue loss, permitting the City to use ARPA funds to reimburse up to $10 million in government service expenses. As of the time of this report, several projects have been identified that meet the requirements and some capital expenditures have been made. ARPA funds were used to purchase the City Hall Building and a portion of a new City park. Funds were also used to implement new finance and permitting systems with the City. The remainder of the funds will be spent on police and Cemetery frontage improvements as part of the Palomar Road Widening project.

F
inancial Reserves
T
he fiscal year 2024-25 marked the second year of the City's sixth two-year budget program. For presentation purposes, general funds 100, 103, 105, 110, 125, and 130 are reported together as the General Fund. As the fiscal year concluded, the General Fund witnessed revenues totaling $2 1,502,644 and a net transfers-in of $ 305,213. These figures surpassed expenditures of $16,893,944, resulting in a net change in fund balance amounting to $4,913,913. Consequently, the ending fund balance reached $15,140,515, equivalent to 89 % of general fund expenditures. This higher fund balance can be attributed to several factors, including increased property tax revenues, as well as heightened activity in licensing and permitting. Furthermore, there were some delays in hiring additional staffing on the schedule of authorized positions which resulted in some savings.

The General Fund's actual revenues were under the final adjusted budget by a net total of $198,691. This surplus can be primarily attributed to a combination of the following factors:
• Li
censes and Permits were $0.3 million under the final estimated budget. • Use of Money and Property was $0.2 million over budget due to prolonged higher interest rates and unrealized gains.

T
he General Fund's actual expenditures were $1.6 million less than the adjusted budget, and this reduction can be attributed to several primary sources:
• F
ire Services w as $0.6 million less than budgeted due to delays filling contract positions for the revised 66 hour work week.
• Public Works department was $0. 2 million less than budgeted due to delays in filling budgeted positions.
• Planning expenditures were $0. 3 million less than budgeted due to the delay in hiring several approved staff positions.
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90 Lon
g-term financial planning and initiatives
O
n November 6, 2018, the voters of Wildomar approved Measure AA, which introduced a local sales tax. Starting April 1, 2019, Measure AA instituted a 1.0% transaction tax on the gross receipts of any retailer stemming from the sale of tangible property within the city's boundaries. Additionally, a 1.0% excise tax was imposed on the storage, use, or other consumption of tangible personal property purchased from any retailer within the city limits of Wildomar. During the fiscal year 2024-25, this tax generated $5.9 million in tax revenue. The revenues generated are allocated to support various improvements, including those related to public safety services, road infrastructure, homeless outreach, and other services aimed at enhancing the quality of life in Wildomar.

The City Council of Wildomar approved an ordinance on May 28, 2020, which allowed the operation of cannabis businesses within the city. This ordinance led to the addition of Chapters 5.76 and 17.315 to the Wildomar Municipal Code, outlining regulations pertaining to cannabis businesses. The ordinance officially came into effect July 2020. These cannabis businesses will provide sales tax revenue, regulatory revenue fees, and public benefit fees to the City's finances. By the end of fiscal year 2025 , two businesses were in operation within the City with a third business opening in July 2025.

The City remains focused on maintaining long- term structural balance as service levels expand and capital projects advance. While the City’s financial position remains strong, some of the year’s positive results reflect timing factors such as delayed expenditures and vacancies, which will normalize in future periods. The City believes that with the appropriate policies in place, as approved and revisited each quarter as part of the budget program, the City's long- term financial goals will be met. The City has taken many steps to control expenditure growth and to build and maintain fiscally sound reserves, and these steps will continue to be reviewed and implemented.

Relevant Financial Policies
T
he City adheres to a set of financial policies while constantly improving and incorporating new relevant policies. Upon its initial incorporation, the City adopted all Riverside County’s policies/codes. As the City develops its own unique needs, it will continue to amend and tailor these former County policies to directly address the City’s goals.

Cu
rrent Year Initiatives
I
n April 2017, the City adopted the following Vision Statement:
“T
he City of Wildomar will be a Safe and Active Community with Responsible Growth and Quality Infrastructure While Keeping a Hometown Feel.”
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91 In fiscal year 2025-26, the City will look to continue to meet the goals of the Vision Statement through the following initiatives:
• U
tilize our Measure AA revenue to continue to keep residents and businesses safe through enhanced law enforcement and fire services.
• Maintain City infrastructure and enhance road maintenance program. • Improve community engagement to maintain hometown feel. • Ensure that revenue from new Cannabis establishments in the City fund safe reliable services to our community.

Concluding remarks
The City, in its s eventeenth year of operation, has achieved a great deal in transitioning from the County support services and establishing its own culture and approach to local governance.

The City continues to strengthen its financial resilience through disciplined reserve policies, including targeted allocations for pension obligations, capital replacement, and long- term liabilities.

The City continues to monitor external
factors, including economic conditions, development activity, and intergovernmental revenue sources, that may impact future financial performance.

I
n closing, I'd like to state that the preparation of this report would not have been possible without the efficient and dedicated service of the entire City staff. I would like to express our appreciation to all members of the departments who assisted and contributed to the preparation of this report. Recognition is also extended to Rogers, Anderson, Malody, and Scott LLP's audit management team, for their dedication and expertise, which contributed significantly to the report quality and adherence to prof essional accounting standards. Credit also must be given to the Mayor and City Council for their support in striving to have the highest standards of professionalism in the management of the City of Wildomar's finances.

S
incerely,
C hris Mann Adam Jantz
City Manager Finance Manager
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92 -ix-
FISCAL YEAR 2024-2025

STAFF DIRECTORY

CITY COUNCIL & CEMETERY DISTRICT TRUSTEES
Mayor/Chair – District 5 Ashlee DePhillippo
Mayor Pro Tem/Vice Chair – District 1 Carlos Marquez
Council Member/Trustee – District 3 Joseph Morabito
Council Member/Trustee – District 2 Dustin Nigg
Council Member/Trustee – District 4 Bridgette Moore

EXECUTIVE MANAGEMENT
City Manager/General Manager Chris Mann
City Attorney Thomas Jex
City Clerk Janet Morales
Administrative Services Director/City Treasurer Heidi Schrader Public Works Director Jason Farag
Interim Community Development Director Robert Flores
Economic Development Director Kimberly Davidson
Chief of Police James Rayls
Fire Chief Dustin Reed
Community Services Director Daniel Torres

CITY OF WILDOMAR ACFR TEAM
Administrative Services Director Heidi Schrader
Finance Manager Adam Jantz
Accountant II Nicholas Neidiffer
Accountant I
Management Analyst I
Accounting Specialist II
Tanesha Wadlington
Kaylin Alexander
Art Villa
93 Residents of Wildomar
City Council
City Manager
Cemetery
Operations
Non-Departmental
Facilities
Community
Services
Parks
Public Works
Engineering
Public Safety
Police
Fire
Office of
Emergency
Management
Animal Control
City Clerk
Administrative
Services
Finance
IT Services
Human Resources
Risk Management
Community
Development
Planning
Building & Safety
Development
Engineering
CDBG
Code Enforcement
Economic
Development
City Attorney
Measure AA
Oversight
Committee
Planning
Commission
Measure Z
Oversight
Committee
City of Wildomar - Organization Chart
The Organization chart presents the departments of the City, which are comprised of both City employed staff and contract staff. The staffing levels in each department above represent the City's positions. The remaining staff are contracted with various agencies or through municipal service firms. -x-
94 FINANCIAL SECTION
95 T

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96 Tel. 909-889-0871 | www.ramscpa.net | 735 E. Carnegie Dr. Suite 100, San Bernardino, CA 92408

CERTIFIED PUBLIC ACCOUNTANTS
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Independent Auditor’s Report

To the Honorable City Council
City of Wildomar, California

Report on the Audit of the Financial Statements

Opinions

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

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2025, 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 (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.

Emphasis of Matter

As described in Note 1 to the financial statements during the year ended June 30, 2025, the City adopted new accounting guidance under Governmental Accounting Standards Board (GASB) Statement No. 101, Compensated Absences and No. 102, Certain Risk Disclosures. Our opinions are not modified with respect to this matter.

Responsibilities of Management for the Financial Statements

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.
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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 City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fr aud 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 bas is, 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 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 required supplementary information, such as management’s discussion and analysis, and the schedules as listed in the table of contents, 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 GAAS, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statem ents. We do not express an opinion or provide 98 -3-
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 are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the accompanying supplementary information is fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Other Information

Management is responsible for the other information included in the annual comprehensive financial report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor's report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.

In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated.

If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated March 17, 2026, on our consideration of 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 City’s internal control over financial reporting and compliance.

San Bernardino, CA
March 17, 2026

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100
City of Wildomar

Management’s Discussion and Analysis
For the Year Ended June 30, 2025

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As management of the City of Wildomar, we offer readers of the City's financial statements this narrative overview and analysis of the financial activities of the City for its seventeenth fiscal year of operation, which ended on June 30, 2025. We encourage the reader to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal, which can be found on pages i through x of this report, and with the City’s financial statements, which follow this discussion.

THE FINANCIAL HIGHLIGHTS

When revenues exceed expenses, the result is an increase in net position. When expenses exceed revenues, the result is a decrease in net position. You can think of this relationship between revenues and expenses as the City's operating results. The City's net position, as measured in the Statement of Net Position, is one way to measure the City's financial health, or financial position. Over time, increases or decreases in the City's net position, as measured in the Statement of Activities, are one indicator of whether its financial health is improving or deteriorating. However, the City's goal is to provide services that improve the quality of life for its residents, not to generate profit.

• The assets and deferred outflows of resources of the City of Wildomar exceeded its liabilities and deferred inflows of resources as of June 30, 2025, by $103.8 million (net position).
• The City of Wildomar’s assets and deferred outflows of resources increased by $10.1 million in fiscal year 2024-25, while liabilities and deferred inflows of resources decreased by $1.1 million. These decreases are primarily attributed to the following asset, liability, and deferred inflow changes:
o Assets - An increase of $6.8 million in cash and investments, mostly due to increases in the City’s Measure AA sales tax revenues, higher property taxes, and fee updates.
o Assets – An increase of $1.6 million in grant receivables due to capital asset construction.
o Assets – An increase of $2.2 million in Capital Assets related to the construction of capital projects and Right-of-Way purchases.
o Liabilities – An increase of $0.7 million in accounts payable for construction progress payments crossing the fiscal year.
o Liabilities – Deposits payable decreased by $1.7 million related to additional deposits made for developer projects.
• The City of Wildomar's total net position increased by $11.2 million. The changes in net position are as follows:
o Net Investment in Capital Assets increased by $2.3 million due to projects being completed in the fiscal year.
o The Restricted Net Position increased by $3.7 million related to projects in Community Development and Community Service Projects.
o The Unrestricted Net Position increased by $5.2 million as the City received additional unrestricted monies.
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City of Wildomar

Management’s Discussion and Analysis
For the Year Ended June 30, 2025

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• The revenues in the Statement of Activities decreased by a net of $6.6 million. The changes are as follows:
o A net increase in general revenues of $2.0 million. This is mostly due to higher tax revenue and investment earnings.
o Operating Grants and Contributions decreased by $4.7 million due to less ARPA revenue recognition, as most of the funds were utilized in previous fiscal years. o Charges for services decreased by $5.2 million due to lower development impact fee receipts.
• The expenses in the Statement of Activities decreased by a net of $1.6 million. This is related to the following:
o A decrease of $4.0 million in General Government due to fewer ARPA expenditures as a result of the monies being used in FY2023-24. o An increase of $0.9 million in public safety as a result of higher contract rates. o An increase of $0.9 million in Community Development due to increased development activity requiring additional contract support.

OVERVIEW OF THE FINANCIAL STATEMENTS

The following discussion and analysis is intended to serve as an introduction to the City of Wildomar's basic financial statements. These basic financial statements are comprised of three components:

1) Government-wide financial statements,
2) Fund financial statements, and
3) Notes to the financial statements.

This report also contains necessary supplementary information and supplementary information in addition to the basic financial statements themselves.

Government-wide financial statements

As previously discussed, government-wide financial statements detail all capital assets, including infrastructure, depreciation, and long-term debt. Specifically, these statements are designed to provide an expansive overview of the City’s finances. In order to adequately present this data in a comprehensible format, the government-wide financial statements are divided into two subcategories, the Statement of Net Position and the Statement of Activities. These statements reasonably provide long and short-term information regarding the City’s financial condition.

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City of Wildomar

Management’s Discussion and Analysis
For the Year Ended June 30, 2025

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The City’s statements provide a manageable yet comprehensive view of the City’s economic position, appropriately accounting for all revenue and expenses during the specified fiscal year.

To accomplish this, government-wide financial statements are reported utilizing the flow of economic resources (cost of services) measurement focus and the accrual method of accounting.

Using the flow of economic resources measurement focus allows the City to provide financial transparency as all assets and liabilities are listed on the Statement of Net Position. The added use of the accrual basis of accounting allows the City a ‘real-time’ advantage as revenues are recognized when earned and expenses are recognized when incurred.

The Statement of Net Position outlines the City’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources, with the difference reported as net position. While fluctuations are expected, over time, increases or decreases in the City’s net position could be used to gauge the City’s financial standing to determine whether it is improving or deteriorating.

The Statement of Activities demonstrates how the City’s net position evolves during the current fiscal year. Specifically, this statement provides a comparative analysis between direct expenses and program revenues for each functional activity of the City. In this format, net position changes are recorded in real-time when triggered by underlying events without respect to the timing of the related cash flows. Because of this, it is expected that revenue and expenses for some items (such as uncollected taxes and earned but unused vacation leave) will result in recorded cash flows in future fiscal periods.

Combined, the Statements reveal functions of the City that could be divided into two categories:

1) Governmental activities, and
2) Business-type activities.

Governmental activities are chiefly supported by:

1) Taxes derived from such sources as sales tax, property tax, and franchise tax, and:
2) Intergovernmental revenues such as motor vehicle in-lieu fees.

Governmental activities of the City are inclusive of general government, public safety, public works, community development, economic development, and community services. As mentioned earlier, tax revenue principally funds these activities. Consequently, all of the City’s basic services are reported in this category.

The City does not have any business-type activities.

The government-wide financial statements include the City (Primary Government) and the Wildomar Cemetery District, which is a legally separate, blended component unit. Financial information for the Wildomar Cemetery District is reported separately from the financial information presented for the City. The government-wide financial statements can be found in the Table of Contents under Basic Financial Statements.

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City of Wildomar

Management’s Discussion and Analysis
For the Year Ended June 30, 2025

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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 of Wildomar, like other state and local governments, uses fund accounting to ensure compliance with finance-related legal requirements. Specifically, these Fund Financial Statements cover segregated groupings of related accounts whose funds have been designated for specific activities or purposes. They provide a detailed accounting of revenue and expenditures, assets, liabilities, deferred inflows of resources, and remaining fund balances for each fund. This helps to ensure and demonstrate finance-related legal compliance.

Fund financial statements differ from activity reports due to the way capital outlay, depreciation, long-term debt, compensated absences, unavailable revenues, and intergovernmental receivables are reported. The impact of these differences is laid out in the notes accompanying the financial statements.

Funds required by State law (i.e., Highway Users Tax) are part of the fund financial statements.

Likewise, other funds (i.e., Developer Impact Fees and Grants) established to provide the City with tighter fiscal controls and accountability are itemized on these statements.

Governmental funds

Governmental funds are reported in essentially the same way as governmental activities in the government-wide financial statements, but with one exception---governmental fund financial statements focus on near-term inflows and outflows of spendable resources and balances of spendable resources. This means governmental fund financial statements identify current sources and uses of money within the immediate fiscal year. Benefits derived include a detailed short-term view of the City’s general government operations and the basic services it provides, which assist in determining whether there are sufficient financial resources available to meet the City’s current needs.

Since the scope of the governmental funds is different than that of the government-wide financial statements, it is beneficial to compare the information presented for the governmental funds alongside governmental activities. Doing so gives the reader a clearer picture of the long-term impacts current financial decisions might yield. When examined together, the governmental funds Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balances statements provide the reader with a different snapshot that identifies variances between the two different methodologies of accounting for governmental activities and governmental funds.

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City of Wildomar

Management’s Discussion and Analysis
For the Year Ended June 30, 2025

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The City of Wildomar maintains 66 individual governmental funds, which are aggregated for presentation purposes. Information is summarized in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund, Special Revenue Funds, and Other Governmental Funds (Assessment Districts, Debt Service, and Capital Reinvestment). Data from the 66 governmental funds are combined into a single, aggregated presentation. Individual fund data for each of the major and non-major governmental funds is provided in the form of 20 combining statements later in this report.

Proprietary funds record revenues when they are earned and record expenses at the time liabilities are incurred. Proprietary funds can be divided into two fund types: enterprise funds and internal service funds. Enterprise funds display financial activities operating in a similar fashion to a business enterprise. Specifically, these funds account for services for which the City charges a user fee. Enterprise funds are documented in the business-type activities section of the government-wide financial statements. They account for operations that provide services primarily to customers outside the financial reporting entity (the City). The City of Wildomar does not have any Proprietary Funds to report.

Internal service funds are generally used to accumulate and allocate costs internally among the City’s various functions. These funds might include general benefits and insurance, printing, office maintenance, architectural services, and information technology, to name a few. Given that these services largely benefit governmental activities rather than business-type functions, City services that might ordinarily be reported in this area have been included with governmental activities in the government-wide financial statements. The City of Wildomar does not have any Internal Service Funds to report.

The City of Wildomar adopts a biennial appropriated budget for its General Fund, with a revision made for the second year of the budget if necessary. A budgetary statement has been provided for the General Fund to demonstrate compliance with this budget.

The basic governmental fund financial statements can be found on pages 22 through 26 of this report.

Notes to the Basic Financial Statements

The Notes to the Basic Financial Statements 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 Table of Contents under the heading Notes to Financial Statements.

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City of Wildomar

Management’s Discussion and Analysis
For the Year Ended June 30, 2025

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Required Supplementary Information and Supplementary Information

In addition to the basic financial statements included within the notes, this report also presents Required Supplementary Information and Supplementary Information.

Required supplementary information includes budgetary comparison schedules for the major governmental funds to demonstrate compliance with the annual budget as adopted and amended, miscellaneous pension plan information, a schedule of funding process relating to OPEB, and notes to required supplementary information. Required Supplementary Information can be found following the Notes to the Basic Financial Statements.

Supplementary Information includes combining statements referred to earlier in connection with non-major governmental funds and includes budgetary comparison schedules for the non-major governmental funds to demonstrate compliance with the annual budget as adopted and amended.

Supplementary Information can be found following the Required Supplementary Information.

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 of Wildomar, assets and deferred outflows of resources of the City of Wildomar exceeded its liabilities and deferred outflows of resources as of June 30, 2025, by $103.8 million (net position). Infrastructure assets of the governmental activities are included in this report. The net investment in capital assets (e.g., land, buildings, machinery, infrastructure, and equipment) of the governmental activities of the City of Wildomar is the largest portion of the City's net position (55%).

During the fiscal year ending June 30, 2025, the net position was $103.8 million of which $57.2 million was invested in capital assets such as land, equipment, buildings, and infrastructure. Of the remaining total, $32.4 million is restricted to specifically stipulated spending agreements originated by law, contract, or other agreements, and $14.2 million is unrestricted. Of note is the fact that the City has only $1.1 million in outstanding debt related to the lease-purchase of the City’s streetlights from Southern California Edison.

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City of Wildomar

Management’s Discussion and Analysis
For the Year Ended June 30, 2025

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Table 1 Statement of Net Position - Primary Government

City of Wildomar
Statement of Net Position - Summary
As of June 30, 2025 and 2024
2025 2024
Asse ts:

Current and other assets 60,606,701 $ 52,673,724 $
Capital assets 58,846,786 56,679,802
Total assets 119,453,487 109,353,526
Deferred outflows of resources:

Deferred pension/OPEB-related items 1,255,950 1,266,725 Total deferred outflows of resources 1,255,950 1,266,725 Liabilities:

Other liabilities 12,759,826 14,040,042
Long-term liabilities 3,772,919 3,781,795
Total liabilities 16,532,745 17,821,837
Deferred inflows of resources:

Deferred pension/OPEB-related items 420,245 243,692 Total deferred inflows of resources 420,245 243,692 Net position:

Net investment in capital assets 57,155,285 54,876,373 Restricted 32,444,647 28,686,316
Unrestricted 14,156,515 8,992,033
Total net position 103,756,447$ 92,554,722 $
Governm ental A ctivities

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Table 2 Statement of Activities - Primary Government

City of Wildomar
Statement of A ctivities
For the Years Ended June 30, 2025 and 2024
2025 2024
Revenues:

Program Revenues
Charges for services 7,437,089 $ 12,628,351 $
Operating grants and contributions 4,876,816 9,555,062 Capital grants and contributions 3,672,757 2,466,618 General Revenues
Property taxes 7,250,034 6,841,492
Sales tax 9,001,868 8,812,130
Other taxes 5,397,560 4,963,388
Use of money and property 2,666,579 2,010,405
Other revenues 570,934 224,482
Total revenues 40,873,637 47,501,928
Expenses:

General government 6,065,059 10,041,717
Public safety 11,837,259 10,958,201
Community development 3,752,010 2,863,098
Economic development 246,623 295,057
Community services 1,139,454 964,081
Public works 6,079,943 5,592,142
Interest on long-term interest 186,743 88,911 Total expenses 29,307,091 30,803,207
Increase in net position 11,566,546 16,698,721
Beginning net position 92,554,722 73,593,978
Restatement of net position (364,821) 2,262,023 Ending net position 103,756,447$ 92,554,722 $
Governm ental A ctivities

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City of Wildomar
Expenses-Governmental Activities - $29,307,091

General
Government
$6,065,059Public Safety
$11,837,259
Community
Development
$3,752,010
Public Works
$6,079,943
Interest on
Long-term Debt
$186,743
Economic
Development
$246,623
Community
Services
$1,139,454

EXPENSES

City of Wildomar
Program Revenues-Governmental Activities - $15,986,662

Public Works
$8,759,172
Community
Development
$5,270,667 General
Government
$1,455,472
Public Safety
$489,961
Community
Services
$11,390

PROGRAM REVENUES

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City of Wildomar
Revenues by Sources-Governmental Activities - $40,873,637

Sales Tax, $9,001, 868,
22%
VLF Replacement
Funding - SB130,
$3,852,974, 9%
Charges for Services,
$7,437,089, 18%
Operating Grants and
Contributions,
$4,786,917, 12%
Capital Grants and
Contribution s, $3, 672, 757, 9%
Property Taxes,
$7,250,034, 17%
Other Taxes,
$203,807, 1%
Investment Earnings,
2,666,579, 7%
Other, $570, 934, 1% Franchise Taxes,
$1,340,779, 3%

Financial Analysis of Governmental Funds

As noted earlier, the City of Wildomar uses fund accounting to ensure and demonstrate compliance with finance–related legal requirements.

Governmental Funds

As stated, governmental fund financial statements identify current sources and uses of money.

Benefits derived include a detailed short-term view of the City’s general government operations and the basic services it provides, which assists in determining whether there are sufficient financial resources available to meet the City’s current needs.

The financial position of the City’s governmental funds has increased when compared to the previous fiscal year. The total ending fund balance for the City’s governmental funds was $44.1 million, which represents a $7.9 million or 22% increase from the prior fiscal year balance.

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General Fund

The General Fund is the primary funding source for the City. At fiscal year-end, the unassigned fund balance of the General Fund was $11.7 million or 69% of the City's general fund operating expenditures of $17 million. This is an increase of $4.9 million in the General Fund ending fund balance.

General Fund revenues increased by $1.8 million over the previous fiscal year 2023-24.

Intergovernmental saw the most significant gain in the amount of $0.7 million due to SB130 Vehicle License Fees in Lieu revenue coming in higher than anticipated. Use of money and property revenue increased by $0.3 million due to higher returns on investments in the managed account. Tax revenues were $0.5 million higher due to property valuation increases over the last year. Licenses & Permits, fines and forfeitures, and charges for service revenues were $0.2 million higher in aggregate. Transfers in were $2.0 million higher due to transferring the FY2023- 24 surplus into separate funds 103, 105, and 130, which are combined in the General Fund statement. The remaining miscellaneous revenues and contributions from other governments were up $134,685.

Expenditures in the General government increased by $1 million, resulting from staffing changes.

Community development increased by $0.7 million due to additional contract staff support. Public Works expenditures decreased by $0.6 million, while economic development, community services, public safety, and capital outlay had a combined increase of $0.1 million. Debt service decreased by $0.1 million due to principal reduction. This led to an overall net increase in expenditures of $1 million.

Other major factors in other governmental funds’ fund balance changes were as follows:

Development Impact Fee Funds

These funds are used to record the capital expenditures of various improvements needed to meet the increased demands associated with new development, primarily residential. Capital facility expansions are pre-determined and are constructed when the collected fees fully fund the improvement. During fiscal year 2024-25, revenues decreased by $5.2 million. This is due to fewer projects making mitigation fee payments, and two developers with bonded special tax districts receiving refunds. The overall fund balance increased by $0.2 million to $12.6 million.

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Measure AA Fund

These funds are raised by the 1.0% transaction tax approved by the voters of Wildomar on November 6, 2018. The tax is on gross receipts of any retailer from the sale of tangible property within the city limits. It is also imposed on the storage, use, or other consumption within the city limits of Wildomar of tangible personal property purchased from any retailer. The tax became effective on April 1, 2019. During fiscal year 2024-25, revenues of $6.5 million were generated, offset by expenditures of $4.1 million, increasing the fund balance by $2.4 million to end the fiscal year at $10.3 million. This is due to delayed capital project expenditures and higher sales tax remittances.

Grant Funds

These funds are typically applied for through various Federal, State, Regional, and local agencies and are awarded based on the criteria established by the agency funding the grant. All funds are to be used in accordance with the rules and regulations established for each grant. In fiscal year 2024-25, the City of Wildomar received major grant funds for its Bundy Canyon Road Widening, Palomar Road Widening, and Clinton Keith Road Widening Capital Improvement Projects. The City also received smaller grants that covered a variety of areas. In total, during fiscal year 2024- 25, the City received grant funds of $2.2 million offset by $3.9 million in grant expenditures, decreasing the fund balance by $1.7 million to -$5.6 million. The fund balance is negative due to the timing of various reimbursement requests, as the funds must be spent before a reimbursement request can be submitted.

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General Fund Financial Highlights

General Fund original vs. final budget significant changes were as follows:

Revenues:
• Taxes increased by $0.9 million due to higher property tax revenues remitted to the City. • Licenses and permits increased by $1.4 million due to the final building permit activity and private development fee amounts being higher than projected. • Intergovernmental increased by $0.7 million due to the SB130 VLF in Lieu share of property taxes remitted to the City being higher.
• Use of money & property increased by $0.7 million due to higher yields on investments. • Transfers In increased by $1.8 million due to the separation of the prior year’s general fund surplus into individual funds for pension liabilities, asset replacement, and a field operation center. These funds are still considered general purpose and are therefore in the same combined statements.

Expenditures:

• Planning increased by $0.5 million due to additional contract support as a result of higher development activity.
• Transfers Out increased by $1.9 million due to the separation of the prior year’s general fund surplus into individual funds for pension liabilities, asset replacement, and a field operation center. These funds are still considered general purpose and are therefore in the same combined statements.
• Development Engineering increased by $0.2 million due to increased development activity resulting in additional contractor costs.

The General Fund’s actual revenues were a net $198,691 less than the final budget. The primary sources for the revenue received being more than budgeted are as follows:

• Licenses and Permits revenue was $317,128 under the final budget. • Use of Money and Property was $189,310 more than budgeted due to higher interest rates and unrealized gains on the City’s managed accounts.

General Fund actual expenditures were a net $1,645,204 less than the final budget. The primary source for the net expenditure decrease is as follows:

• Fire Services were $0.6 million under budget due to delays in adding additional service staff to accommodate the reduced workweek hours.
• Planning was $0.3 million under budget due to delays in hiring additional staff.

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CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

The City’s investment in capital assets (Table 3) for its governmental activities as of June 30, 2025, is $58.8 million (net of accumulated depreciation). This investment in capital assets includes land, structures and improvements, furniture and equipment, infrastructure, and construction in progress. For more information, please refer to Note 5 in the Notes to Financial Statements. The Capital Assets of the City are those assets which are used in the performance of the City’s functions, including infrastructure assets. Depreciation on capital assets is recognized in the Government-wide financial statements.

Additional information is provided on Capital Assets in the Notes to Financial Statements, Note 1.d.

Table 3 Summary of Changes in Capital Assets

City of Wildomar
Summary of Changes in Capital Assets
As of June 30, 2025
Beginning Ending
Balance Additions Deletions Balance
Governm ental A ctivities:

Capital assets, not being depreciated:

Land 6,173,740 $ - $ - $ 6,173,740$ Construction in progress 11,527,094 4,525,561 - 16,052,655 Right-of-Way 5,417,275 201,222 - 5,618,497 Total capital assets, not being depreciated 23,118,109 4,726,783 - 27,844,892 Capital assets, being depreciated, net:

Right-to-use equipment 94,769 (56,409) - 38,360 Right-to-use subscription 490,288 (124,215) - 366,073 Buildings and improvements 8,618,633 (446,612) - 8,172,021 Furniture, fixtures and equipment 317,897 120,790 - 438,687 Streetlights 1,371,054 (100,708) - 1,270,346 Traffic signals 110,569 (12,591) - 97,978 Infrastructure 22,558,483 (1,940,054) - 20,618,429 Total capital assets, being depreciated, net 33,561,693 (2,559,799) - 31,001,894 Governmental activities capital assets, net 56,679,802$ 2,166,984 $ - $ 58,846,786$

Long-term liabilities

At year-end, the City had $1.9 million in outstanding long-term liabilities for Governmental Activities. This is related to a lease-purchase for streetlights, compensated absences, and lease and subscription liabilities. For more information, please refer to Note 6 in the Notes to the Financial Statements. Additional detailed information is provided on long-term debt in Note 1d of the Notes to the Financial Statements.

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Table 4 Summary of Changes in Long-term Liabilities

City of Wildomar
Summary of Changes in Long-term Liabilities
As of June 30, 2025
Beginning Ending Within
Balance Additions Deletions Balance One Year
Governmental activities:

Compensated absences 230,091$ 91,181 $ - $ 321,272$ 128,644 $ Leases payable 117,161 - (53,457) 63,704 33,977 Subscription liability 478,907 - (111,087) 367,820 114,505 Direct borrowing:

Bond payable - - - - - Premium payable - - - - - Loan payable 1,207,361 - (94,844) 1,112,517 99,830 Total long-term liabilities 2,033,520$ 91,181 $ (259,388) $ 1,865,313 $ 376,956 $

ECONOMIC FACTORS AND OUTLOOK FOR FUTURE YEARS

Key budget assumptions for forecasting General Fund revenues for fiscal year 2025-2026 and beyond include the following:

• The usage of American Rescue Plan Act monies received by the City. • Residential property values are increasing, which will be reflected in higher property taxes. • The opening of additional Cannabis businesses.
• The establishment and levy of additional special tax districts. • The issuance of special tax bonds.

On November 6, 2018, voters approved Measure AA. Effective on April 1, 2019, Measure AA established a 1.0% transaction tax on the gross receipts of any retailer from the sale of tangible property sold within the city limits. In addition, an excise tax of 1.0% is imposed on the storage, use, or other consumption within the city limits of Wildomar of tangible personal property (i.e., vehicles) purchased from any retailer within California. The revenue from this tax in the sixth full year was $5.9 million, and it is anticipated that the seventh year’s revenue will be approximately $6.1 million.

The revenues are used to fund improvements for public safety services, roads, and homeless services.

The Adopted Operating Budget for Fiscal Year 2025-2026 is structurally balanced, addresses the City Council’s priorities, and balances both the achievement of community needs and the accomplishment of the Council’s goals and objectives.

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REQUESTS FOR INFORMATION

This financial report is designed to provide a general overview of the City of Wildomar's finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to:

City of Wildomar
Attention: Administrative Services Director
23873 Clinton Keith Road, Suite 110
Wildomar, California 92595

General information relating to the City of Wildomar, California, can be found at the City's website, www.wildomar.gov.

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BASIC FINANCIAL STATEMENTS
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118
City of Wildomar

Statement of Net Position
June 30, 2025

The accompanying notes are an integral part of these financial statements. -20-
Governmental
Activities

ASSET S
Cash and investments 52,415,001 $
Restricted cash investments 588,106
Receivables, net:

Accounts 108,935
Lease 114,020
Developer 651,932
Grants 4,021,422
Interest 213,966
Prepaids 2,758
Inventories 4,730
Due from other governments 2,485,831
Capital assets, not being depreciated 27,844,892
Capital assets, net of depreciation 31,001,894
Total assets 119,453,487

DEFERRED OUTFLOWS OF RESOURCES
Pension related items 1,010,405
OPEB related items 245,545
Total deferred outflows of resources 1,255,950

LIABILITIES
Accounts payable 4,169,238
Accrued liabilities 49,808
Unearned revenue 1,920,469
Deposits payable 6,516,894
Due to other governments 1,202
Accrued interest payable 102,215
Noncurrent Liabilities:

Due within one year:

Other long-term liabilities 376,956
Total OPEB liability 67,728
Due in more than one year:

Other long-term liabilities 1,488,357
Net pension liability 837,080
Total OPEB liability 1,002,798
Total liabilities 16,532,745

DEFERRED INFLOWS OF RESOURCES
Pension related items 21,479
OPEB related items 284,746
Lease revenues 114,020
Total deferred inflows of resources 420,245

NET POSITION
Net investment in capital assets 57,155,285
Restricted:

Community development projects 12,620,064
Community services 9,239,323
Public works 6,638,784
Capital projects 3,802,569
Debt service 143,907
Unrestricted 14,156,515
Total net position 103,756,447 $

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City of Wildomar

Statement of Activities
For the Year Ended June 30, 2025

The accompanying notes are an integral part of these financial statements. -21-
Program Revenues
Charges Operating Capital
for Grants and Grants and Governmental
Expenses Services Contributions Contributions Activities Governmental Activities:

General government 6,065,059 $ 452,689 $ 1,002,783 $ - $ (4,609,587)$ Public safety 11,837,259 295,298 194,663 - (11,347,298) Community development 3,752,010 4,799,245 471,422 - 1,518,657 Economic development 246,623 - - - (246,623) Community services 1,139,454 11,390 - - (1,128,064) Public works 6,079,943 1,878,467 3,207,948 3,672,757 2,679,229 Interest on long-term liabilities 186,743 - - - (186,743) Total Governmental
Activities 29,307,091 $ 7,437,089 $ 4,876,816 $ 3,672,757 $ (13,320,429) General revenues:

Taxes:

Property tax, levied for general purpose 7,250,034
Sales tax 9,001,868
Franchise taxes 1,340,779
VLF replacement funding - SB130 3,852,974
Other taxes 203,807
Investment earnings 2,666,579
Other 570,934
Total general revenues 24,886,975
Change in net position 11,566,546
Net position, beginning of year, as previously reported 92,554,722 Adjustment and restatments (Note 13) (364,821)
Net position, beginning of year 92,189,901
Net position, end of year 103,756,447$
Net (Expenses) Revenues
and Changes in Net Position

121
City of Wildomar

Balance Sheet
Governmental Funds
June 30, 2025

The accompanying notes are an integral part of these financial statements. -22-
Nonmajor Total
Development Governmental Governmental
General Impact Fees Measure AA Grants Funds Funds

ASSET S
Pooled cash and investments 15,841,177 $ 14,762,336 $ 9,924,510 $ - $ 11,886,978$ 52,415,001 $ Restricted cash and investments - - - - 588,106 588,106 Receivables, net:

Accounts 86,091 - - 10,199 12,645 108,935 Lease 114,020 - - - - 114,020 Developer 651,932 - - - - 651,932 Grants - - - 4,021,422 - 4,021,422 Interest 106,078 41,095 32,025 227 34,541 213,966 Due from other governments 915,206 - 1,056,117 - 514,508 2,485,831 Prepaids 2,758 - - - - 2,758 Inventory - - - - 4,730 4,730 Due from other funds 6,005,071 - - - - 6,005,071 Total assets 23,722,333 $ 14,803,431 $ 11,012,652 $ 4,031,848 $ 13,041,508 $ 66,611,772 $

LIABILITIES
Accounts payable 2,822,952 $ 93,214 $ 717,429 $ 183,312 $ 352,331 $ 4,169,238 $ Accrued liabilities 20,362 - - - 29,446 49,808 Unearned revenues 775,063 659,004 - - 486,402 1,920,469 Deposits payable 4,753,411 1,431,149 - 147,460 184,874 6,516,894 Due to other governments 1,202 - - - - 1,202 Due to other funds - - - 5,746,969 258,102 6,005,071 Total liabilities 8,372,990 2,183,367 717,429 6,077,741 1,311,155 18,662,682

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues 94,808 - - 3,602,289 - 3,697,097 Lease revenues 114,020 - - - - 114,020 Total deferred inflows of resources 208,828 - - 3,602,289 - 3,811,117

FUND BA LA NCES (DEFICIT)
Nonspendable 2,758 - - - 4,730 7,488 Restricted for:

Community development projects - 12,620,064 - - - 12,620,064 Community services - - 9,239,323 - - 9,239,323 Public works - - - - 4,785,240 4,785,240 Capital projects - - - - 7,061,547 7,061,547 Debt service - - - - 143,907 143,907 Committed
Economic stability 2,565,255 - 791,925 - - 3,357,180 Extreme event reserve 855,085 - 263,975 - - 1,119,060 Unassigned 11,717,417 - - (5,648,182) (265,071) 5,804,164 Total fund balances (deficit) 15,140,515 12,620,064 10,295,223 (5,648,182) 11,730,353 44,137,973 Total liabilities, deferred inflows of
resources and fund balances 23,722,333$ 14,803,431 $ 11,012,652 $ 4,031,848 $ 13,041,508 $ 66,611,772 $ Special Revenue Funds

122
City of Wildomar

Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position
June 30, 2025

The accompanying notes are an integral part of these financial statements. -23-
Fund balances of governmental funds 44,137,973 $
Amounts reported for governmental activities in the statement of net position are different because:

Capital assets net of depreciation have not been included as financial resources in government fund activity. 58,846,786
Accrued interest is not due and payable in the current period and, therefore, is not reported in the governmental funds. (102,215)
Long-term liabilities that have not been included in the governmental activity.

Compensated absences (321,272)
Loan payable (1,112,517)
Leases payable (63,704)
Subscription liability (367,820)
Net pension liability (837,080)
Total OPEB liability (1,070,526)
Deferred outflows and inflows of resources related to pensions and OPEB that are required to be recognized over a defined closed period.

Pension related deferred outflows of resources 1,010,405 Pension related deferred inflows of resources (21,479)
OPEB related deferred outflows of resources 245,545
OPEB related deferred inflows of resources (284,746)
Revenues reported as unavailable revenue in the governmental funds are recognized in the statement of activities. 3,697,097
Net position of governmental activities 103,756,447 $

123
City of Wildomar

Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
For the Year Ended June 30, 2025

The accompanying notes are an integral part of these financial statements. -24-
Development ARPA
General Impact Fees Measure AA (formerly major)

REVENUES
Taxes 10,917,522 $ - $ 5,940,906$
Licenses and permits 4,919,472 - - Intergovernmental 4,324,918 - - Charges for services 23,542 - - Fines and forfeitures 73,424 - - Use of money and property 1,119,010 603,935 546,601 Developer participation - 295,691 - Miscellaneous 214,655 - - Total revenues 21,592,543 899,626 6,487,507

EXPENDITURES
Current:

General government 4,190,293 52,210 23,650 Public safety 8,182,594 - 2,809,929 Community development 3,280,340 - 145,536 Economic development 246,623 - - Community services 321,753 - 224,578 Public works 440,369 55,883 848,258 Capital outlay 196,674 631,505 78,522 Debt service:

Principal retirement 108,312 - - Interest 16,885 - -
Total expenditures 16,983,843 739,598 4,130,473 Excess (deficiency) of revenues over
(under) expenditures 4,608,700 160,028 2,357,034

OTHER FINA NCING RESOURCES (USES)
Transfers in 2,348,465 79,778 -
Transfers out (2,043,252) - - Total other financing sources (uses) 305,213 79,778 - Net change in fund balances 4,913,913 239,806 2,357,034

FUND BALANCES (DEFICIT)
Beginning of year, as previously reported 10,226,602 12,380,258 7,938,189 401,805 Adjustment and restatements - - - (401,805) Beginning of year, restated 10,226,602 12,380,258 7,938,189 - End of year 15,140,515 $ 12,620,064 $ 10,295,223 $ - $ Special Revenue Funds

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-25-
Nonmajor Total
Governmental Governmental
Grants Funds Funds
-$ 1,049,050$ 17,907,478 $
- - 4,919,472
2,171,839 6,512,803 13,009,560
4,067 86,541 114,150
- 3,084 76,508
2,215 426,235 2,697,996
- - 295,691
- - 214,655
2,178,121 8,077,713 39,235,510
6,784 1,397,479 5,670,416
- 727,720 11,720,243
97,061 - 3,522,937
- - 246,623
- 316,706 863,037
120,463 2,728,270 4,193,243
3,645,455 194,857 4,747,013
- 151,076 259,388
- 72,865 89,750
3,869,763 5,588,973 31,312,650
(1,691,642) 2,488,740 7,922,860
555 174,780 2,603,578
(1,336) (558,990) (2,603,578) (781) (384,210) -
(1,692,423) 2,104,530 7,922,860
(3,955,759) 9,588,839 36,579,934
- 36,984 (364,821)
(3,955,759) 9,625,823 36,215,113
(5,648,182)$ 11,730,353 $ 44,137,973 $
Special Revenue
Funds

125
City of Wildomar

Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities For the Year Ended June 30, 2025

The accompanying notes are an integral party of these financial statements. -26-
Net change in fund balances - total governmental funds 7,922,860 $ Amounts reported for governmental activities in the statement of activities are different because:

Governmental funds report capital outlays as expenditures. However, in the statement of activities, the costs of those assets is allocated over their estimated useful lives as depreciation expense. This is the amount by which capital outlays exceeded depreciation in the current period.

Capital outlay 5,006,065
Depreciation (2,839,081)
The issuance of long-term debt provides current financial resources to governmental funds. Repayment of long-term debt is an expenditure in governmental funds, but repayment reduces long-term liabilities in the statement of net position.

Principal paid on loan payable 94,844
Principal paid on leases payable 53,457
Principal paid on subscription liability 111,087
Some expenses reported in statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in the governmental funds:

Net change in accrued interest payable (96,993)
Net change in compensated absences (91,181)
Net change in net pension liability and related deferred outflows and inflows of resources 30,345 Net change in OPEB liability and related deferred outflows and inflows of resources (262,984) Revenues reported as unavailable revenue in the governmental funds are recognized in the statement of activities. 1,638,127
Change in net position of governmental activities 11,566,546 $ 126
City of Wildomar

Statement of Fiduciary Net Position
Custodial Funds
June 30, 2025

The accompanying notes are an integral party of these financial statements. -27-
Custodial
Funds
ASSETS
Cash and investments 10,909,657 $
Receivables, net:

Interest 36,063
Due from other governments 4,575
Total Assets 10,950,295

LIABILITIES
Accounts payable 1,063
Total Liabilities 1,063

NET POSITION
Restricted for:

Individuals and organizations 10,949,232
Total Net Position 10,949,232 $
127
City of Wildomar

Statement of Changes in Fiduciary Net Position
Custodial Funds
For the Year Ended June 30, 2025

The accompanying notes are an integral party of these financial statements. -28-
Custodial
Funds

ADDIT IO NS
Special assessments 703,814 $
Investment earnings 241,120
Proceeds from CFD debt 13,379,117
Total Additions 14,324,051

DEDUCTIONS
Professional and contractual services 524,978
Debt service payments 165,714
Contributions to other entity 3,048,948
Total Deductions 3,739,640
Change in Net Position 10,584,411

NET POSITION
Beginning of year -
Adjustments and restatements (Note 13) 364,821
Beginning of year, restated 364,821
End of year 10,949,232 $
128
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-29-
I.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A) Description of the Reporting Entity

The City of Wildomar, California (City) was incorporated on July 1, 2008, under the laws of the State of California and enjoys all the rights and privileges pertaining to “General Law” cities.

The City is governed by an elected five-member board. As required by generally accepted accounting principles, these financial statements present the City (the primary government) and its component units.

Component Units

Component units are legally separate organizations for which the elected officials of the primary government are financially accountable. An agency, institution or authority, may be included as a component unit in the primary government's financial statements. 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. A discretely presented component unit, on the other hand, is reported in a separate column in the combined financial statements to emphasize it is legally separate from the government. There is one blended component unit in these financial statements. There are no discretely presented component units presented in the financial statements. The governing body of the component unit are comprised of the City Council acting as the governing board and the services they provide directly to citizens or other parties outside the government. The blended component unit presented has a June 30 year end. The following is reported as a blended component unit.

Wildomar Cemetery District - The Wildomar Cemetery District (the District) was absorbed into the City on November 9, 2011 and was consolidated into the City as a subsidiary district. Its purpose is to provide cemetery services to residents of the City of Wildomar. The operations of the District are blended in the financial statements as the structure of the District is a separate legal entity and the City Council would oversee the operations of the District acting as the Board of Directors. A separate financial statement may be obtained from the City of Wildomar.

B) Government-wide and Fund Financial Statements

The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the activities of the primary government and its component units. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities are normally supported by taxes and intergovernmental revenues.

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City of Wildomar

Notes to Financial Statements
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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

B) Government-wide and Fund Financial Statements (continued)

The Statement of Activities demonstrates the degree to which the direct expenses of a given function or segment, are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues.

C) Measurement Focus, Basis of Accounting, and Financial Statement Presentation

Separate financial statements are provided for governmental funds. Major individual governmental funds are reported as separate columns in the fund financial statements.

The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting . Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal year. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due.

Property taxes, franchise taxes, licenses and interest associated with the current fiscal period are all considered to be susceptible to accrual and have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the government.

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City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

C) Measurement Focus, Basis of Accounting, and Financial Statement Presentation (continued)

The City reports the following major governmental funds:

The General Fund is the City’s primary operating fund. All general tax receipts and fee revenue not allocated by law, Council policy or contractual agreement to other funds are accounted for in the General Fund. General Fund expenditures include operations traditionally associated with activities, which are not required to be accounted for or paid by another fund.

The Development Impact Fees Fund accounts for new development impact fees that are collected on the City’s behalf and can only be used to pay for capital expenditures and cannot be used for operating costs.

The Measure AA Fund accounts for revenues and expenditures of police and fire services, road maintenance, and homelessness solutions within the City.

The Grants Fund accounts for revenues and expenditures of miscellaneous grants not accounted for in a separate fund.

The City also reports the following funds:

The Custodial Funds account for additions and deletions related to the issuance of two new CFDs, No. 2022-2 (Horizon Place) and No. 2022-3 (Verano), in the amount of $13,020,000.

As a general rule, the effect of interfund activity has been eliminated from the government- wide financial statements except for the effect of interfund services provided and used.

Accounts reported as program revenues include: 1) charges to customers or applicants for goods, services or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all unrestricted taxes.

D) Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity

Cash and Investments

The City’s cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturities of three months or less from the date of acquisition. For financial statement presentation purposes, cash and cash equivalents are shown as both restricted and unrestricted cash and investments in the governmental funds. 131
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

D) Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

Investments are reported at fair value. The City’s policy is to hold investments until maturity or until market values equal or exceed cost. The State Treasurer’s Investment Pool operates in accordance with appropriate state laws and regulations. The reported value of the pool is the same as the fair value of the pool shares.

Receivables and Payables

Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either “due to/from other funds” (i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the non-current portion of interfund loans). All other outstanding balances between funds are reported as “due to/from other funds”. Advances between funds, as reported in the fund financial statements, are offset by a fund balance reserve account in applicable governmental funds to indicate that they are not available for appropriation and are not expendable available financial resources.

Prepaid Items and Deposits

Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid costs in both government-wide and fund financial statements. The City accounts for prepaid costs using the consumption method and is equally offset by a nonspendable fund balance in the fund-level statement, which indicates that it does not constitute “available spendable resources.”

Capital Assets

Capital assets, which include property, plant and equipment, and infrastructure assets (e.g., roads, bridges, sidewalks and similar items), are reported in the governmental activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of three years. Such assets are recorded at the historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend the asset’s lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.

132
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

D) Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

Property, plant, equipment, and infrastructure are depreciated using the straight-line, half-year convention method over the following estimated useful lives:

Assets Years
Buildings and improvements 10 to 30 years
Equipment and furniture 3 to 20 years
Vehicles 5 to 10 years
Infrastructure 10 to 50 years
Software 5 to 10 years

Deferred Outflows/Inflows of Resources

In addition to assets, the statement of net position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources (expenses/expenditure) until then. The City reports deferred outflows of resources for pension and OPEB which relate to contributions after the measurement date and other amounts, which are amortized by an actuarial determined period.

In addition to liabilities, the statement of net position and the balance sheet will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to a future period(s) and so will not be recognized as an outflow of resources (revenue) until that time. The City has two types of items, one of which arises only under a modified accrual basis of accounting that qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is reported only in the government funds balance sheet. The governmental funds report unavailable revenues from grant revenue sources. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available. In addition, the City reports deferred inflows of resources for pension and OPEB on the statement of net position and are amortized by an actuarial determined period.

Compensated Absences

During the current fiscal year, the City converted to Combined Annual Leave Time (CALtime) which aggregates sick and vacation time together. The dollar value as of June 30th of all CALtime hours is accrued when incurred in the government-wide financial statements. A liability for these amounts is reported in governmental funds only if they have matured, for example, as a result of employee resignations and retirements.

133
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

D) Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

Staff and management are unrepresented and have a compensation plan. The City Manager is governed by an employment agreement which includes the compensation rate and specified rules governing leave. All full-time employees are provided with CALtime. All unused/accrued CALtime leave is cashed out upon separation. Exempt staff also receive Administrative Leave which is accumulated in full at the beginning of each fiscal year and automatically cashed out if unused at the end of the fiscal year. Maximum accrual limits for each category, per year:

CALtime leave 480 hours
Administrative leave supervisory 20 hours
Administrative leave management 60 hours
Administrative leave executive 80 hours

CALtime pay is payable to employees at the time it is taken or upon termination of employment. Unless otherwise governed by an employee agreement, staff may convert in June and December a maximum of 40 hours each into compensation.

Sick leave is accrued only by part-time employees not eligible for CALtime.

Long-term Obligations

In the government-wide financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, statement of net position.

Bond premiums and discounts are deferred and amortized over the life of the bonds using the straight-line method. Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are reported as expenses in the year incurred.

In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as expenditures.
134
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

D) Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

Non-City Obligation Debt

The Community Facilities District’s, reported as Custodial Funds, issued two new bonds No. 2022-2 (Horizon Place) and No. 2022-3 (Verano), in the amounts of $7,490,000 and $5,530,000 , respectively. The bonds were issued at a premiums of $153,271 for No. 2022-2 and $212,945 for No. 2022.3. Bond proceeds were used for authorized capital and governmental purposes. At year-end, the total of bonds payable was $7,643,271 for 2022-2 Horizons and $5,735,847 for 2022-3 Verano, including unamortized bond premiums. The bonds are not general or special obligations of the City or general obligations of the District but are limited obligations for the District payable solely from net taxes and other amounts held under the indenture. Neither the faith and credit, nor the general taxing power of the City have been pledged to the payment of the bonds. Therefore, None of the special assessment bonds have been included in the companying financial statements.

Net Pension Liability/(Asset)

For purposes of measuring the net pension liability, deferred outflows and inflows of resources related to pensions, and pension expense, information about the fiduciary net position and additions to/deductions from the fiduciary net position have been determined on the same basis as they are reported by the California Public Employees’ Retirement System (CalPERS) Financial Office. For this purpose, benefit payments (including refunds of employee contributions) are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value. CalPERS audited financial statements are publicly available reports that can be obtained at CalPERS’ website under Forms and Publications.

The liability for net pension will be paid in future years from the General Fund and Cemetery District.

Generally accepted accounting principles requires that the reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used.

Valuation Date: June 30, 2023
Measurement Date: June 30, 2024
Measurement Period: July 1, 2023 to June 30, 2024

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City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-36-

1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

D) Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

Other Post-Employment Benefits (OPEB)

For purposes of measuring the OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s plan (OPEB Plan) and additions to/deductions from the OPEB Plan’s fiduciary net position have been determined on the same basis. For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value.

The liability for other post-employment benefits will be paid in future years from the General Fund.

Generally accepted accounting principles require that the reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used:

Valuation Date: July 1, 2024
Measurement Date: June 30, 2025
Measurement Period: July 1, 2024 to June 30, 2025

136
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

D) Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

Unearned Revenues

In the government-wide financial statements and the fund financial statements, unearned revenues represent cash advances by various grantors that have not been spent; therefore, no revenue has been recognized.

Fund Equity

In the fund financial statements, government funds report the following fund balance classification:

Nonspendable 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.

Restricted include amounts that are constrained on the use of resources by either, (a) external creditors, grantors, contributions, or laws of regulations of other governments or (b) by law through constitutional provisions or enabling legislation.

Committed include amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the government’s highest authority, the City Council, by an adoption of an ordinance. The formal action that is required to be taken to establish, modify, or rescind a fund balance commitment is an ordinance.

Assigned include amounts that are constrained by the government’s intent to be used for specific purposes, but are neither restricted nor committed. The City Manager is authorized to assign amounts to a specific purpose, which was established by the governing body in Resolution No. 2011-20 approved on June 21, 2011.

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

Net Position Flow Assumption

Sometimes the City will fund outlays for a particular purpose from both restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted - net position and unrestricted - net position in the government- wide, a flow assumption must be made about the order in which the resources are considered to be applied. It is the government’s policy to consider restricted - net position to have been depleted before unrestricted - net position is applied.

137
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-38-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

D) Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

Fund Balance Flow Assumption

Sometimes the City will fund outlays for a particular purpose from both restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements a flow assumption must be made about the order in which the resources are considered to be applied. It is the City’s policy to consider restricted fund balance to have been depleted before using any of the components of unrestricted fund balance. Further, when the components of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is applied last.

Property Taxes

Property tax revenue is recognized on the modified accrual basis, that is, in the fiscal year for which the taxes have been levied providing they become available. Available means then due or past due and receivable within the current period and collected within the current period or expected to be collected soon enough thereafter to be used to pay liabilities of the current period. The County of Riverside collects property taxes for the City. Tax liens attach annually as of 12:01 A.M. on the first day in January preceding, the fiscal year for which the taxes are levied. The tax levy covers the fiscal period July 1st to June 30th. All secured personal property taxes and one-half of the taxes on real property are due November 1st, the second installment is due February 1st. All taxes are delinquent, if unpaid, on December 10th and April 10th respectively. Unsecured personal property taxes become due on the first of March each year and are delinquent, if unpaid, on August 31st.

Functional Classifications

Expenditures of the governmental funds are classified by function. Functional classifications are defined as follows:

• General Government includes legislative activities, City Clerk, City Attorney, City Manager as well as management or supportive services across more than one functional area.

• Public Safety includes those activities which involve police protection, fire protection and animal control services.

• Community Development includes those activities which involve planning, building and safety and code enforcement.

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City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-39-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

D) Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

• Economic Development includes activities to attract, retain and expand businesses, marketing, local job development, and collaboration between the City and businesses.

• Community Services includes activities which provide recreation, cultural and educational services.

• Public Works includes all maintenance, engineering and capital improvements which relate to streets and other public facilities.

E) Implementation of New Governmental Accounting Standards Board (GASB) Pronouncements

Governmental Accounting Standard Board Statement No. 101

In June 2022, GASB issued Statement No. 101, Compensated Absences. The objective of this Statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recognition and measurement guidance under a unified model and by amending certain previously required disclosures. The requirements of this Statement are effective for fiscal years beginning after December 15, 2023, and all reporting periods thereafter. Please see the statement for further details.

Governmental Accounting Standard Board Statement No. 102

In December 2023, GASB issued Statement No. 102, Certain Risk Disclosures. The objective of this Statement is to provide users of government financial statements with essential information about risks related to a government’s vulnerabilities due to certain concentrations or constraints The requirements of this Statement are effective for fiscal years beginning after June 15, 2024, and all reporting periods thereafter. Please see the statement for further details.
139
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-40-
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

E) Implementation of New Governmental Accounting Standards Board (GASB) Pronouncements (continued)

Governmental Accounting Standard Board Statement No. 103

In April 2024, GASB issued Statement No. 103, Financial Reporting Model Improvements .

The objective of this Statement is to improve key components of the financial reporting model to enhance its effectiveness in providing information that is essential for decision making and assessing a government’s accountability. This Statement also addresses certain application issues. The requirements of this Statement are effective for fiscal years beginning after June 15, 2025, and all reporting periods thereafter. The City has elected not to early implement the statement and has not determined its effect on the City’s financial statements.

Governmental Accounting Standard Board Statement No. 104

In September 2024, GASB issued Statement No. 104, Disclosure of Certain Capital Assets .

The objective of this Statement is to improve financial reporting by providing users of financial statements with essential information about certain types of capital assets in order to make informed decisions and assess accountability. Additionally, the disclosure requirements will im-prove consistency and comparability between governments. The requirements of this Statement are effective for fiscal years beginning after June 15, 2025, and all reporting periods thereafter. The City has elected not to early implement the statement and has not determined its effect on the City’s financial statements.

140
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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II.) STEWARDSHIP

2) STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY

The City had the following funds with expenditures in excess of appropriations (for the General Fund and other major funds, see the notes to RSI).

Fund/Department Appropriations Expenditures Excess
Gas Tax:

Capital outlay 27,700 $ 27,972 $ (272) $ Debt service:

Principal retirement - 1,210 (1,210) Interest - 877 (877)
Measure A:

Debt service:

Principal retirement - 1,210 (1,210) Interest - 877 (877)
Transfers out 56,800 57,355 (555) Measure Z Park:

Capital outlay 5,300 6,220 (920) Debt service:

Principal retirement - 1,022 (1,022) Interest - 607 (607)
Cemetery District:

General government 792,100 958,787 (166,687) Public works - 299 (299) Debt service:

Principal retirement - 4,089 (4,089) Interest - 2,428 (2,428)
ARPA
Debt service:

Principal retirement - 48,701 (48,701) Interest - 6,629 (6,629)
2022-2 Special Tax B
Public works 145,400 145,546 (146)
Assessment Districts
Public safety 233,000 244,334 (11,334) Capital outlay 3,500 3,564 (64) Transfers out 64,000 287,067 (223,067) Streetlight Fund
Public works 6,400 10,233 (3,833) Capital outlay 13,400 13,958 (558)

141
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-42-
III.) DETAILED NOTES ON ALL FUNDS

3) CASH AND INVESTMENTS

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

Statement of Net Position:

Cash and investments 52,415,001 $
Restricted cash and investments 588,106
Statement of Fiduciary Net Position:

Cash and investments 10,909,657
Total cash and investments 63,912,764 $

Cash and investments consist of the following:

Petty cash 100 $
Deposits with financial institutions 11,246,064
Investments 52,666,600
Total cash and investments 63,912,764 $

The City maintains a cash and investment pool that is available for use for all funds as well as the Wildomar Cemetery District (component unit). Each fund type’s position in the pool is reported on the combined balance sheet as cash and investments. The City has adopted an investment policy which authorizes it to invest in various investments.

Deposits

The California Government Code requires California banks and savings and loan associations to secure a City’s deposits by pledging government securities with a value of 110% of a City’s deposits. California law also allows financial institutions to secure City’s deposits by pledging first trust deed mortgage notes having a value of 150% of a City’s total deposits. The City Treasurer may waive the collateral requirement for deposits which are fully insured up to $250,000 by the FDIC.

The collateral for deposits in federal and state-chartered banks is held in safekeeping by an authorized Agent of Depository recognized by the State of California Department of Banking.

The collateral for deposits with savings and loan associations is generally held in safekeeping by the Federal Home Loan Bank in San Francisco, California as an Agent of Depository.

These securities are physically held in an undivided pool for all California public agency depositors. Under Government Code Section 53655, the placement of securities by a bank or savings and loan association with an “Agent of Depository” has the effect of perfecting the security interest in the name of the local government agency. Accordingly, all collateral held by California Agent of Depository are considered to be held for, and in the name of, the local governmental agency.
142
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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3) CASH AND INVESTMENTS (continued)

Authorized Investments

Under provision of the City’s investment policy and in accordance with the California Government Code, the following investments are authorized:

• Securities of the U.S. Government
• Securities of U.S. Government Agencies
• City, State and Municipal Bonds
• Time Deposits and Certificates of Deposit
• Negotiable Certificates of Deposit
• Bankers’ Acceptance Notes
• Commercial Paper
• Money Market Mutual Funds
• Local Agency Investment Fund (LAIF)
• Joint Powers Authority Investment Pools

The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. LAIF is overseen by the Local Agency Investment Advisory Board, which consists of five members, in accordance with State statute. The State Treasurer’s Office audits the fund annually. The fair value of the position in the investment pool is the same as the value of the pool shares.

Investment in California Asset Management Program

The California Asset Management Program (CAMP) is a public joint powers authority which provides California Public Agencies with investment management services for surplus funds and comprehensive investment management, accounting and arbitrage rebate calculation services for proceeds of tax-exempt financings. The CAMP currently offers the Cash Reserve Portfolio, a short-term investment portfolio, as a means for Public Agencies to invest these funds. Public Agencies that invest in the Pool (Participants) purchase shares of beneficial interest. Participants may also establish individual, professionally managed investment accounts (Individual Portfolios) by separate agreement with the Investment Advisor. The City has a separate account in the Investment Advisor to manage part of the CAMP portfolio.

Investments in the Pools and Individual Portfolios are made only in investments in which Public Agencies generally are permitted by California statute. The CAMP may reject any investment and may limit the size of a Participant’s account. The Pool seeks to maintain, but does not guarantee, a constant net asset value of $1.00 per share. A Participant may withdraw funds from its Pool accounts at any time by check or wire transfers. Requests for wire transfers must be made by 9:00 a.m. that day. Fair value of the Pool is determined by the fair value per share of the Pool’s underlying portfolio.

143
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-44-
3) CASH AND INVESTMENTS (continued)

Investments Authorized by Debt Agreements

The above investments do not address investment of debt proceeds held by a bond trustee.

Investments of debt proceeds held by a bond trustee are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the City’s investment policy.

Custodial Credit Risk

The custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker- dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. Investments in U.S.

Government securities are not considered to have a credit risk and, therefore, their credit quality is not disclosed. As of June 30, 2025, the City’s deposits with financial institutions in excess of federal depository insurance limits were held in collateralized accounts.

Concentration of Credit Risk

The City’s investment policy diversifies its investments by security type, institution and maturity/call dates. With the exception of U.S. Treasury securities and authorized pools, no more than 5% of the City’s total investment portfolio can be invested in a single security type or with a single financial institution.

Credit Risk

Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. The City's investment policy limits investments in commercial paper to those rated “A” or higher from Standard and Poor’s (S&P) and Moody’s, respectively.

144
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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3) CASH AND INVESTMENTS (continued)

Information about the minimum rating required by the California Government Code, the City's investment policy, or debt agreements, and the actual rating, as of year end, for each type of investment held by the City can be found below:

Rating as of Year End
Minimum Not
Investment Type Amount Legal Rating AAA AA A Rated
Local Agency Investment Fund 5,237,513$ N/A - $ - $ - $ 5,237,513$ CAMP Pool 12,801,353 N/A 12,801,353 - - - US Treasuries 11,034,527 N/A 699,837 10,334,690 - - Municipal Bonds 475,626 A 145,436 269,409 - 60,781 US Agencies 11,345,717 N/A - 11,345,717 - - Commercial paper 599,781 A - - 599,781 - Certificates of deposit 653,737 A - - 653,737 - Restricted:

Money market 10,518,346 AAA 10,518,346 - - - Total 52,666,600 $ 24,164,972 $ 21,949,816 $ 1,253,518 $ 5,298,294 $

Interest Rate Risk

The City’s investment policy invest at maturities to five years, unless matched to a specific cash flow. Reserve funds may be invested in securities exceeding five years if the maturity of such investments is made to coincide as nearly as practicable with the expected use of the funds. The City has elected to use the segmented time distribution method of disclosure for its interest rate risk.

As of June 30, 2025, the City had the following investments and remaining maturities:

Investment Type Less than 1 Year 1 to 3 years 3 to 5 years Fair Value Local Agency Investment Fund 5,237,513$ - $ - $ 5,237,513$ CAMP Pool 12,801,353 - - 12,801,353 US Treasuries - - 11,034,527 11,034,527 Municipal Bonds - - 475,626 475,626 US Agencies - 217,340 11,128,377 11,345,717 Commercial paper - - 599,781 599,781 Certificates of deposit - - 653,737 653,737 Restricted:

Money market 10,518,346 - - 10,518,346 Total 28,557,212 $ 217,340 $ 23,892,048$ 52,666,600 $ Investment Maturities (in Years)

145
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-46-
4) FAIR VALUE MEASUREMENTS

Generally accepted accounting standards require certain items to be measured at fair value.

The fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value with Level 1 given the highest priority and Level 3 the lowest priority. The three levels of the fair value hierarchy are as follows:

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the organization has the ability to access at the measurement date.

Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include the following:

• Quoted prices for similar assets or liabilities in active markets. • Quoted prices for identical or similar assets or liabilities in markets that are not active. • Inputs other than quoted prices that are observable for the asset or liability (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). • Inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs).

Level 3 inputs are unobservable inputs for the asset or liability.

Fair value of assets measured on a recurring basis as of June 30, 2025, are as follows:

Significant Other
Fair Observable Inputs
Investment Type Value (Level 2) Uncategorized
Local Agency Investment Fund 5,237,513$ - $ 5,237,513$ CAMP Pool 12,801,353 - 12,801,353 US Treasuries 11,034,527 11,034,527 - Municipal Bonds 475,626 475,626 - US Agencies 11,345,717 11,345,717 - Commercial paper 599,781 599,781 - Certificates of deposit 653,737 653,737 - Restricted:

Money market 10,518,346 10,518,346 - Total 52,666,600 $ 34,627,734 $ 18,038,866 $

Fair values for investments are determined by using a matrix pricing technique. Matrix pricing is used to value securities based on the security’s relationship to benchmark quoted prices.

Uncategorized investments do not fall under the fair value hierarchy as there is no active market for the investments.
146
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-47-
5) CAPITAL ASSETS

Capital asset activity for the year was as follows:

Beginning Ending
Balance Additions Deletions Balance
Capital assets, not being depreciated:

Land 6,173,740 $ - $ - $ 6,173,740$ Construction in progress 11,527,094 4,525,561 - 16,052,655 Right-of-way 5,417,275 201,222 - 5,618,497 Total capital assets, not being
depreciated 23,118,109 4,726,783 - 27,844,892 Capital assets, being depreciated/amortized:

Right-to-use equipment 248,354 - (21,318) 227,036 Right-to-use subscription 616,826 - - 616,826 Buildings and improvements 13,178,832 - - 13,178,832 Furniture, fixtures and equipment 986,905 279,282 - 1,266,187 Streetlights 1,916,187 - - 1,916,187 Traffic signals 251,824 - - 251,824 Infrastructure 65,459,148 - - 65,459,148 Total capital assets, being
depreciated/amortized 82,658,076 279,282 (21,318) 82,916,040 Less accumulated depreciation/amortization for:

Right-to-use equipment (153,585) (56,409) 21,318 (188,676) Right-to-use subscription (126,538) (124,215) - (250,753) Buildings and improvements (4,560,199) (446,612) - (5,006,811) Furniture, fixtures and equipment (669,008) (158,492) - (827,500) Streetlights (545,133) (100,708) - (645,841) Traffic signals (141,255) (12,591) - (153,846) Infrastructure (42,900,665) (1,940,054) - (44,840,719) Total accumulated depreciation/amortization (49,096,383) (2,839,081) 21,318 (51,914,146) Total capital assets, being
depreciated/amortized, net 33,561,693 (2,559,799) - 31,001,894 Governmental activities
capital assets, net 56,679,802 $ 2,166,984 $ - $ 58,846,786$

Depreciation and amortization expense was charged to functions/programs of the primary government as follows:

Governmental activities:

General government 264,629 $
Public safety 117,016
Community development 88,632
Parks and recreation 268,030
Public works 2,100,774
Total governmental activities
depreciation and amortization expense 2,839,081$

147
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-48-
6) LONG-TERM LIABILITIES

The following is a schedule of changes in long-term liabilities for the fiscal year:

Beginning Ending Due within
balance Additions Deletions balance one year
Compensated absences* 230,091$ 91,181 $ - $ 321,272$ 128,644 $ Leases payable 117,161 - (53,457) 63,704 33,977 Subscription liability 478,907 - (111,087) 367,820 114,505 Direct borrowing:

Loan payable 1,207,361 - (94,844) 1,112,517 99,830 Total 2,033,520 $ 91,181 $ (259,388) $ 1,865,313 $ 376,956 $ *Net change

Compensated absences

The City accrues accumulated unpaid vacation, sick leave and associated employee-related costs when earned (or estimated to be earned) by the employee as described in Note 1. The City as of June 30, 2025, had an outstanding accrued balance of unpaid vacation, sick and associated employee related costs of $321,272 that will be liquidated from various funding sources in future years.

Direct borrowings - loan payable

On March 22, 2019 the City entered into an agreement with Bank of America Leasing & Capital, LLC for the loan of $1,525,470 to finance the acquisition of streetlights within the City.

The loan will be repaid in semi- annual installments, which include principal and interest, starting June 1, 2020, with the last payment to be made June 1, 2034. The interest rate will be 5.19%. The balance of the loan is $1,112,517 as of June 30, 2025.

The loan is a direct borrowing. There are no provisions for the outstanding loans in the event of default and no assets were held as collateral. Below is the future debt service for the loan:

Year ending
June 30, Principal Interest Total
2026 99,830 $ 56,461 $ 156,291 $
2027 105,078 56,461 161,539
2028 110,603 51,213 161,816
2029 116,417 48,486 164,903
2030 122,538 39,873 162,411
2031-2034 558,051 100,866 658,917
Total 1,112,517$ 353,360 $ 1,465,877 $

148
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-49-
6) LONG-TERM LIABILITIES (continued)

Leases payable

As of June 30, 2025, the City had 12 active leases. The leases have payments that range from $2,167 to $195,278 and interest rates that range from 0.3150% to 18.6199%. As of June 30, 2025, the total combined value of the lease liability is $63,704, the total combined value of the short-term lease liability is $33,977. The combined value of the right to use asset, as of June 30, 2025, of $227,036 with accumulated amortization of $188,676 is included within the right-to-use equipment category of capital assets, found in Note 5.

The future payments on the leases are as follows:

Year ending
June 30, Principal Interest Total
2026 33,977 $ 7,576 $ 41,553 $
2027 29,727 1,574 31,301
Total 63,704 $ 9,150 $ 72,854 $

Subscription liability

On July 1, 2022, the City entered into various subscriptions of 60 months for the use of software. An initial subscription liability was recorded in the amount of $70,761. On July 1, 2023, the City entered into additional subscriptions of 60 months. An additional subscription liability was recorded at $546,065. As of June 30, 2025, the value of the subscription liability is $367,820. The City is required to make annual fixed payments ranging from $15,149 to $60,660. The subscriptions have interest rates ranging from 2.8760% to 3.4450%. The value of the right-to-use asset as of June 30, 2025, of $616,826 with accumulated amortization of $250,753 is included on the right-to-use subscription category of capital assets, found in Note

5. The City does not have any extension options. The interest payments are due annually.

The future payments on the subscriptions are as follows:

Year ending
June 30, Principal Interest Total
2026 114,506 $ 11,304 $ 125,810 $
2027 121,074 7,780 128,854
2028 132,240 4,049 136,289
Total 367,820 $ 23,133 $ 390,953 $

149
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-50-
7) INTERFUND RECEIVABLE, PAYABLE AND TRANSFERS

Due To/From Other Funds

DUE FROM
Other
Governmental
Grants Funds Total
General Fund 5,746,969 $ 258,102 $ 6,005,071 $ Total 5,746,969 $ 258,102 $ 6,005,071 $
DUE
TO

These were the results of routine interfund transactions due to eliminating temporary deficit cash balances.

Interfund Transfers

Other
General Governmental
Fund Grants Funds Total
General Fund 2,043,252 $ 1,336 $ 303,877 $ 2,348,465 $ Grants - - 555 555 Development Impact Fees - - 79,778 79,778 Other Governmental Funds - - 174,780 174,780 Total 2,043,252 $ 1,336 $ 558,990 $ 2,603,578 $

TRANSFERS
IN

TRANSFERS OUT

During the year, interfund transfers were used to provide services and construct assets between funds.

8) PENSION PLAN

General Information about the Pension Plan

Plan Description

All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (Plan or PERF C) administered by the California Public Employees’ Retirement System (CalPERS.) The Plan consists of a miscellaneous pool and a safety pool (also referred to as “risk pools”), which are comprised of individual employer miscellaneous and safety rate plans, respectively. Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous pools. Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under generally accepted accounting principles. Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The City participates in one miscellaneous plan. 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, at www.calpers.ca.gov. 150
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-51-
8) PENSION PLAN (continued)

General Information about the Pension Plan (continued)

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 5 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 operates under the provisions of the California Public Employees’ Retirement Law (PERL), the California Public Employees’ Pension Reform Act of 2013 (PEPRA), and the regulations, procedures and policies adopted by the CalPERS Board of Administration. The Plan’s authority to establish and amend the benefit terms are set by the PERL and PEPRA, and may be amended by the California state legislature and in some cases require approval by the CalPERS Board.

The rate plan provisions and benefits in effect as of June 30, 2025 are summarized as follows:

Miscellaneous
Prior to On or After
Hire date January 1, 2013 January 1, 2013
Benefit formula 2.7 % @ 55 2% @ 62
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 50 - 55 52 - 67
Monthly benefits, as a % of eligible compensation 2.0% to 2.7% 1.0% to 2.5% Required employer contribution rates 16.02% 7.87%

151
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-52-
8) PENSION PLAN (continued)

General Information about the Pension Plan (continued)

Contributions

Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer contribution rates for all public employers are determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. The total plan contributions are determined through CalPERS’ annual actuarial valuation process.

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 employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. Employer contribution rates may change if plan contracts are amended. Payments made by the employer to satisfy contribution requirements that are identified by the pension plan terms as plan member contribution requirements are classified as plan member contributions. Employer contributions to the Plan for the fiscal year ended June 30, 2025 were $491,099.

Net Pension Liability

The City’s net pension liability for the Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability of the Plan is measured as of June 30, 2024, using an annual actuarial valuation as of June 30, 2023, rolled forward to June 30, 2024, using standard update procedures. A summary of principal assumptions and methods used to determine the net pension liability is as follows.

152
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-53-
8) PENSION PLAN (continued)

Net Pension Liability (continued)

Actuarial Methods and Assumptions Used to Determine Total Pension Liability

The collective total pension liability for the June 30, 2024, measurement period was determined by an actuarial valuation as of June 30, 2023, with update procedures used to roll forward the total pension liability to June 30, 2024. The collective total pension liability was based on the following assumptions:

Valuation date June 30, 2023
Measurement date June 30, 2024
Actuarial cost method Entry Age Actuarial Cost Method
Asset valuation method Fair value of assets
Actuarial assumptions:

Discount rate 6.90%
Inflation 2.30%
Salary increase Varies by Entry Age and Service
Mortality Rate Table (1) Derived using CalPERS' membership data for all funds Post retirement benefit increase The lesser of contract COLA or 2.30% until Purchasing Power Protection Allowance floor on purchasing power
applies, 2.30% thereafter.
(1) The mortality table used 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 from November 2021 that can be found on the CalPERS website.

Long-term Expected Rate of Return

The long-term expected rate of return on pension plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CalPERS took into account both short- term and long-term market return expectations. Using historical returns of all of the funds’ asset classes, expected compound (geometric) returns were calculated over the next 20 years using a building-block approach. The expected rate of return was then adjusted to account for assumed administrative expenses of 10 Basis points.
153
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-54-
8) PENSION PLAN (continued)

Net Pension Liability (continued)

The expected real rates of return by asset class are as follows:

Assumed Asset Real Return
Assets Class(a) Allocation Real Return 1,2
Global equity - cap-weighted 30.00% 4.54%
Global equity - non-cap-weighted 12.00% 3.84%
Private equity 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage-backed securities 5.00% 0.50%
Investment grade corporates 10.00% 1.56%
High yield 5.00% 2.27%
Emerging market debt 5.00% 2.48%
Private debt 5.00% 3.57%
Real assets 15.00% 3.21%
Leverage (5.00%) (0.59%)
Total 100.0%
2 Figures are based on the 2021 Asset Liability Management study. 1 An expected inflation of 2.30% used for this period.

Discount Rate

The discount rate used to measure the total pension liability for PERF C 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.
154
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-55-
8) PENSION PLAN (continued)

Net Pension Liability (continued)

Subsequent Events

There were no subsequent events that would materially affect the results presented in this disclosure.

Pension Plan Fiduciary Net Position

Information about the pension plan’s assets, deferred outflows of resources, liabilities, deferred inflows of resources, and fiduciary net position are presented in CalPERS’ audited financial statements, which are publicly available reports that can be obtained at CalPERS’ website, at www.calpers.ca.gov. The plan’s fiduciary net position and additions to/deductions from the plan’s fiduciary net position have been determined on the same basis used by the pension plan, which is the economic resources measurement focus and the accrual basis of accounting. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. Investments are reported at fair value.

Proportionate Share of Net Pension Liability/(Asset)

The following table shows the City’s proportionate share of the Plan’s net pension liability over the measurement period.

City total City fiduciary City net pension
pension liability net position liability/(asset)
(a) (b) (c) = (a) - (b)
Balance at: 6/30/2023 (VD) 5,428,240$ 4,582,460 $ 845,780 $ Balance at: 6/30/2024 (MD) 6,245,803 5,408,723 837,080 Net change (817,563) $ (826,263) $ 8,700 $ Valuation date (VD); Measurement date (MD)

155
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-56-
8) PENSION PLAN (continued)

Proportionate Share of Net Pension Liability/(Asset) (continued)

The City’s proportion of the net pension liability was determined by CalPERS using the output from the Actuarial Valuation System and the fiduciary net position, as provided in the CalPERS Public Agency Cost-Sharing Allocation Methodology Report, which is a publicly available report that can be obtained at CalPERS’ website, at www.calpers.ca.gov. The City’s proportionate share of the net pension liability for the miscellaneous Plan as of the June 30, 2023 and 2024 measurement dates was as follows:

City
Proportion - June 30, 2023 0.01691%
Proportion - June 30, 2024 0.01730%
Change - increase (decrease) 0.00039%

Sensitivity of the Proportionate Share of the Net Pension Liability/(Asset) to Changes in the Discount Rate

The following presents the City’s proportionate share of the net pension liability of the Plan as of the measurement date, calculated using the discount rate of 6.9 percent, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage-point lower (5.9 percent) or 1 percentage-point higher (7.9 percent) than the current rate:

City
1% Decrease 5.90%
Net pension liability (asset) 1,679,891$
Current discount rate 6.90%
Net pension liability (asset) 837,080$
1% Increase 7.90%
Net pension liability (asset) 143,322$

Pension Expenses and Deferred Outflows and Deferred Inflows of Resources Related to Pensions

Amortization of Deferred Outflows and Deferred Inflows of Resources

Gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time.

The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to pensions and are to be recognized in future pension expense. 156
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-57-
8) PENSION PLAN (continued)

Pension Expenses and Deferred Outflows and Deferred Inflows of Resources Related to Pensions (continued)

The amortization period differs depending on the source of the gain or loss:

Difference between
projected and actual
earnings
5 year straight-line amortization
All other amounts Straight-line amortization over the average expected remaining services lives of all members
that are provided with benefits (active, inactive and
retired) as of the beginning of the measurement
period

As of the start of the measurement period (July 1, 2023), the City’s net pension liability was $845,780. For the measurement period ending June 30, 2024 (the measurement date), the City incurred a pension expense of $460,754.

As of June 30, 2025, the City has deferred outflows and deferred inflows of resources related to pensions as follows:

Deferred Deferred
outflows of inflows of
resources resources
Pension contributions subsequent to measurement date 491,099$ - $ Changes of assumptions 21,514 -
Differences between expected and actual experience 72,373 2,824 Differences between projected and actual investment earnings 48,190 - Differences between employer’s contributions and proportionate share of contributions 223,450 109
Changes in employer’s proportion 153,779 18,546 Total 1,010,405 $ 21,479 $

157
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-58-
8) PENSION PLAN (continued)

Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions (continued)

The amounts above are net of outflows and inflows recognized in the 2023-24 measurement period expense. Contributions subsequent to the measurement date of $491,099 reported with deferred outflows of resources will be recognized as a reduction of the net pension liability in the upcoming fiscal year. Other amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in future pension expense as follows:

Fiscal Deferred
Year Ended outflows/inflows
June 30, of resources
2026 237,872 $
2027 224,604
2028 51,865
2029 (16,514)
2030 -
Thereafter -
Total 497,827 $

Payable to the Pension Plan

At June 30, 2025, the Local Government reported a payable of $13,551 for the outstanding amount of contributions to the pension plan required for the year then ended.

9) OTHER POST-EMPLOYMENT BENEFITS (OPEB)

Plan Description

The City’s single-employer defined benefit postemployment healthcare plan provides medical benefits to eligible retired employees and qualified dependents. A menu of benefit provisions as well as other requirements is established by State statute within the Public Employees’ Retirement Law. CalPERS issues an Annual Comprehensive Financial Report. The Annual Comprehensive Financial Report is issued in aggregate and includes the sum of all CalPERS plans. Copies of the CalPERS Comprehensive Annual Financial Report may be obtained from the CalPERS Executive Office, 400 P Street, Sacramento, California 95814. The City does not have assets accumulated in a trust that meet the criteria of GASB 75 to pay related benefits.

Funding Policy

The contribution requirements of the City are established and may be amended by the City Council.
158
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-59-
9) OTHER POST-EMPLOYMENT BENEFITS (OPEB) (continued)

Employees Covered

As of the July 1, 2024, actuarial valuation, the following current and former employees were covered by the benefit terms under the Plan:

Active employees 50
Inactive employees or beneficiaries currently receiving benefits 9 Total 59

Contributions

The annual contribution is based on the actuarially determined contribution. For the fiscal year ended June 30, 2025, the City contributed $67,728 to the Plan.

Total OPEB Liability

The City’s total OPEB liability was measured as of June 30, 2025 and the total OPEB liability used to calculate the total OPEB liability was determined by an actuarial valuation dated July 1, 2024, based on the following actuarial methods and assumptions:

Actuarial Assumptions
Discount rate 5.20%
Salary increases 2.80% plus merit
Investment Rate of Return 4.13%
Mortality rate General/Retired/Vested Terminated: SOA Pub-2010 General Total Dataset Headcount Weighted Mortality
Table fully generational using Scale MP-2021
Surviving Spouses: SOA Pub-2010 Contingent
Survivors Total Dataset Headcount Weighted Mortality
Table fully generational using Scale MP-2021
Healthcare Trend Rate 6.25%

Discount Rate

The discount rate used to measure the total OPEB liability was 5.20%. The projection of cash flows used to determine the discount rate assumed that City contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries. Therefore, the long- term expected rate of return on OPEB plan investments was applied to all periods of projects benefit payments to determine the total OPEB liability.

159
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-60-
9) OTHER POST-EMPLOYMENT BENEFITS (OPEB) (continued)

Changes in the OPEB Liability

The changes in the total OPEB liability for the Plan are as follows:

Increase (Decrease)
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
(a) (b) (c)=(a)-(b)
Balance at June 30, 2024
(Valuation Date July 1, 2024) 902,495$ - $ 902,495$ Changes Recognized for the Measurement Period:

Service cost 141,582 - 141,582
Interest 42,545 - 42,545
Actual and expected experience difference 5,756 - 5,756 Changes of assumptions (121,731) - (121,731) Contribution - employer - 67,728 (67,728) Change of benefit terms 167,607 - 167,607 Benefit payments (67,728) (67,728) -
Net changes 168,031 - 168,031
Balance at June 30, 2025
(Measurement Date June 30, 2025) 1,070,526$ - $ 1,070,526$

Sensitivity of the total OPEB Liability to Changes in the Discount Rate

The following presents the total OPEB liability of the City if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2025:

Current
1% Decrease Discount Rate 1% Increase

4.20% 5.20% 6.20%
Total OPEB Liability 1,204,218$ 1,070,526 $ 959,601 $

160
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-61-
9) OTHER POST-EMPLOYMENT BENEFITS (OPEB) (continued)

Sensitivity of the Total OPEB Liability to Changes in the Health Care Cost Trend Rates

The following presents the total OPEB liability of the City if it were calculated using health care cost trend rates that are one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2025:

Current
Healthcare Cost
1% Decrease Trend Rates 1% Increase
Total OPEB Liability 926,113$ 1,070,526 $ 1,252,303 $

Recognition of Deferred Outflows and Deferred Inflows of Resources

Gains and losses related to changes in total OPEB liability and fiduciary net position are recognized in OPEB expense systematically over time.

Amounts are first recognized in OPEB expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to OPEB and are to be recognized in future OPEB expense.

The recognition period differs depending on the source of the gain or loss:

Net difference between projected and actual
earnings on OPEB plan investments 5 years
All other amounts Expected average remaining service
lifetime (EARSL)

OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB

For the fiscal year ended June 30, 2025, the City recognized OPEB expense of $330,713. As of fiscal year ended June 30, 2025, the City reported deferred outflows/inflows of resources related to OPEB from the following services:

Deferred Deferred
Outflows of Inflows of
Resources Resources
Changes in assumptions 101,242 $ 79,240 $
Differences between expected and actual experience 144,303 205,506 Total 245,545 $ 284,746 $

161
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

-62-
9) OTHER POST-EMPLOYMENT BENEFITS (OPEB) (continued)

There were no contributions subsequent to the measurement date, as the measurement date is the same as the fiscal year end. Other amounts reported as deferred outflows of resources related to OPEB will be recognized as expense as follows:

Fiscal Deferred
Year Ended Outflow/(Inflows)
June 30, of Resources
2026 (21,021) $
2027 (21,021)
2028 (21,021)
2029 (21,021)
2030 9,172
Thereafter 35,711
Total (39,201) $

Changes in assumptions

The following assumptions have been updated:

• The discount rate has been updated based on the yield for 20-year tax-exempt general obligation municipal bonds as of June 30, 2025 (measurement date). The discount rate is

4.21% as of June 30, 2024, and 5.20% as of June 30, 2025. Refer to the Discussion of Discount Rates section for more information on selection of the discount rate. The impact of this change is a decrease in liabilities.
• Termination rates have been updated and adjusted by Entry Ages under 30, 30-39, and 40+ based on the 2021 CalPERS pension plan experience study for PERS employees.

This change caused a slight increase in liabilities.
• Salary scale has been updated to 2.8% per year plus merit increases for Miscellaneous employees by Entry Ages under 30, 30-39, and 40+ based on the 2021 experience study for the CalPERS pension plan valuation. This change caused a decrease in liabilities. • Health care trend rates have been updated to an initial rate of 8.00%, decreasing by 0.25% annually to an ultimate rate of 4.50%. This change caused an increase in liabilities. • We have updated our process to allow for the valuation of a negative implicit subsidy. This change caused a slight decrease in liabilities. Claim cost calculations have been updated to account for the CalPERS risk adjustments. This update led to a significant increase in liabilities.

162
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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10) RISK MANAGEMENT

The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters for which the City obtains insurance coverage.

The City is a member of the California Intergovernmental Risk Authority - CIRA (Authority), a joint powers authority, which provides joint protection programs for public entities covering automobile, general liability, errors and omission losses, workers’ compensation, and property claims. Under the program, the City has a $5,000 retention limit similar to a deductible with the Authority being responsible for losses above that amount up to $1 million. The Authority has additional coverage of $35 million in excess of its $1 million retention limit through multiple insurers and insurance risk sharing pool. The Authority also provides one billion dollars aggregate per occurrence property damage to its members with such coverage provided by purchased insurance.

Liabilities of the City are reported when it is probable that a loss has occurred and the amount of the loss can be reasonable estimated. Liabilities include an amount for claims that have been incurred by not reported (IBNRs). The result of the process to estimate the claims liability is not an exact amount as it depends on many complex factors, such as inflation, changes in legal doctrines, and damage awards. Accordingly, claims are reevaluated periodically to consider the effects of economic and social factors. The estimate of the claims liability also includes amounts for incremental claim adjustment expenses related to specific claims and other claim adjustment expenses regardless of whether allocated to specific claims. Estimated recoveries, for example from salvage or subrogation, are another component of the claim’s liability estimate.

The Authority covers workers’ compensation claims up to its self-insurance limit of $500,000.

The Local Agency Workers Compensation Excess Pool provides excess coverage to statutory limits. The City pays an annual premium to the Authority and may share in any operating results. Financial statements of the Authority may be obtained from its administrative office located at 2330 East Bidwell, Suite 150, Folsom, California, 95630; www.cira-jpa.org or by calling (916) 927- 7727.

As of June 30, 2025, the City did not have any significant claims liability; therefore, no accrual was required. Claims settlements have not exceeded insurance coverage in each of the past four years.

163
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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11) FUND EQUITY

Fund Balance Policy:

The City has adopted a policy requiring the General Fund and the Measure AA Fund to maintain a minimum committed fund balance equal to 20% of annual budgeted operating revenues.

Deficit Fund Balance

The following funds had deficit fund balances as of June 30, 2025. These deficits are expected to be eliminated through future revenues.

Fund Amount
Grants Special Revenue Fund (5,648,182) $
Capital Projects Fund (213,796)
TDA (51,275)

12) JOINTLY GOVERNED ORGANIZATION

The City, in conjunction with four other governmental entities, created the Southwest Communities Financing Authority (Financing Authority) on November 30, 2004. The Financing Authority was formed to issue bonds for the construction of an animal shelter to be used by the member agencies. The Financing Authority’s board is composed of one member from each participating entity. The City has the following fiscal obligations: debt repayment of any bonds issued, administrative costs, and operation of the animal shelter. The debt service payments and the animal shelter operating costs will be prorated to each member based on the percentage of the animals housed at the facility, on an annual basis. The administrative costs will be borne equally by all members. For the year ended June 30, 2025, the City had shared payments to the Financing Authority of $52,210.

164
City of Wildomar

Notes to Financial Statements
For the Year Ended June 30, 2025

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13) RESTATEMENTS

Government-Wide Statements, Governmental Funds Statements

During fiscal year a restatement was needed to adjust the beginning balance of the City’s net position and fund balances of certain funds. The change results from the adjustment for activity of custodial funds in the current year that were considered non-major special revenue and capital project funds in the prior year, as well as a change in a fund being presented as non-major in the current year that was major in the prior year, leading the changes required per GASB Statement No. 100, Accounting for Changes and Error Corrections.

The effects of the fund restatements in each statement affected is shown below:

Government-wide Statements - Statement of Activities
Governmental
Activities
Net position, beginning of the year, prior to restatement 92,554,722 $ Adjustment - changes to the financial reporting entity (364,821) Net position, beginning of the year, as restated 92,189,901 $ Other
Governmental
Funds
Fund balance, beginning of the year, prior to restatement 9,588,839 $ Adjustment - changes from major to non-major 401,805
Adjustment - changes to the financial reporting entity (364,821) Fund balance, beginning of the year, as restated 9,625,823 $ Custodial Funds
Net position, beginning of the year, prior to restatement - $ Adjustment - changes to the financial reporting entity 364,821 Net position, beginning of the year, as restated 364,821 $ Statement of Revenues, Expenditures and Changes in
Fund Balances - Governmental Funds
Statement of Changes in Fiduciary Net Position -
Fiduciary Fund

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166

REQUIRED SUPPLEMENTARY INFORMATION
167

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168
City of Wildomar

Required Supplementary Information
Budgetary Comparison Schedule by Department
General Fund
For the year ended June 30, 2025

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Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 10,226,602$ 10,226,602 $ 10,226,602 $ - $ Resources (Inflows):

Taxes 10,122,100 10,994,200 10,917,522 (76,678) Licenses and permits 3,787,700 5,236,600 4,919,472 (317,128) Intergovernmental 3,639,100 4,303,900 4,324,918 21,018 Charges for services 21,300 30,800 23,542 (7,258) Fines and forfeitures 70,000 80,000 73,424 (6,576) Use of money and property 205,000 929,700 1,119,010 189,310 Miscellaneous 17,300 111,200 214,655 103,455 Transfers in 584,200 2,363,400 2,348,465 (14,935) Amounts Available for
Appropriations 28,673,302 34,276,402 34,167,610 (108,792) Charges to Appropriations (Outflows):

General Government
City Council 281,200 335,000 231,660 103,340 City Manager 472,900 636,400 556,789 79,611 City Clerk 360,000 394,100 381,312 12,788 City Attorney 305,700 312,000 278,859 33,141 Administrative Services 914,400 1,073,500 1,039,038 34,462 Human Resources 295,600 308,100 284,187 23,913 Non-departmental 1,330,900 1,357,000 1,418,448 (61,448) Public Safety
Police 5,564,100 5,234,500 5,193,594 40,906 Fire 3,088,500 2,984,400 2,399,024 585,376 Animal Control 432,600 525,200 520,350 4,850 OEM 17,800 99,300 69,627 29,673 Community Development
Administration 88,400 165,600 162,065 3,535 Building and Safety 645,800 945,100 890,937 54,163 Planning 725,900 1,252,300 973,205 279,095 Development Engineering 435,900 643,400 708,522 (65,122) Code Enforcement 599,200 511,000 481,331 29,669 Planning Commission 11,600 21,100 19,884 1,216 Cannabis Compliance 51,300 51,600 44,395 7,205 Economic Development 438,100 357,600 246,623 110,977 Community Services
Community Services - Administration 147,000 356,200 280,564 75,636 Marna O'Brien Park - 5,900 5,539 361 Ball Fields 24,100 21,600 13,249 8,351 Other parks 7,000 50,100 22,401 27,699 Public Works 473,900 644,200 440,369 203,831 Capital outlay 81,400 227,200 196,674 30,526 Debt service
Principal retirement - - 108,312 (108,312) Interest - - 16,885 (16,885) Transfers out 200,000 2,070,000 2,043,252 26,748 Total Charges to Appropriations 16,993,300 20,582,400 19,027,095 1,555,305 Budgetary Fund Balance, June 30 11,680,002$ 13,694,002 $ 15,140,515 $ 1,446,513 $ 169
City of Wildomar

Required Supplementary Information
Budgetary Comparison Schedule by Function
Development Impact Fees
For the year ended June 30, 2025

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Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 12,380,258$ 12,380,258 $ 12,380,258 $ - $ Resources (Inflows):

Use of money and property - 374,900 603,935 229,035 Developer participation 2,384,800 2,058,400 295,691 (1,762,709) Transfers in - - 79,778 79,778 Amounts Available for Appropriations 14,765,058 14,813,558 13,359,662 (1,453,896) Charges to Appropriations (Outflows):

Current:

General government 124,900 124,900 52,210 72,690 Public works 2,756,400 47,200 55,883 (8,683) Capital outlay 6,322,800 973,100 631,505 341,595 Total Charges to Appropriations 9,204,100 1,145,200 739,598 405,602 Budgetary Fund Balance, June 30 5,560,958$ 13,668,358 $ 12,620,064 $ (1,048,294) $

170
City of Wildomar

Required Supplementary Information
Budgetary Comparison Schedule by Function
Measure AA
For the year ended June 30, 2025

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Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 7,938,189$ 7,938,189 $ 7,938,189 $ - $ Resources (Inflows):

Taxes 5,129,500 5,700,000 5,940,906 240,906 Use of money and property 150,000 478,400 546,601 68,201 Amounts Available for Appropriations 13,217,689 14,116,589 14,425,696 309,107 Charges to Appropriations (Outflows):

Current:

General government 24,300 24,300 23,650 650 Public safety 2,764,200 3,243,200 2,809,929 433,271 Community development 391,300 190,200 145,536 44,664 Community services - 365,900 224,578 141,322 Public works 1,602,800 1,036,000 848,258 187,742 Capital outlay 45,000 79,300 78,522 778 Total Charges to Appropriations 4,827,600 4,938,900 4,130,473 808,427 Budgetary Fund Balance, June 30 8,390,089$ 9,177,689 $ 10,295,223 $ 1,117,534 $

171
City of Wildomar

Required Supplementary Information
Budgetary Comparison Schedule by Function
Grants
For the year ended June 30, 2025

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Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 (3,955,759)$ (3,955,759) $ (3,955,759) $ - $ Resources (Inflows):

Intergovernmental 9,125,700 9,021,800 2,171,839 (6,849,961) Charges for services - - 4,067 4,067 Use of money and property - - 2,215 2,215 Transfers in - - 555 555 Amounts Available for Appropriations 5,169,941 5,066,041 (1,777,083) (6,843,124) Charges to Appropriations (Outflows):

Current:

General government - 7,000 6,784 216 Community development 15,000 113,000 97,061 15,939 Public works 92,000 158,300 120,463 37,837 Capital outlay 8,069,000 3,037,400 3,645,455 (608,055) Transfers out 5,800 3,400 1,336 2,064 Total Charges to Appropriations 8,181,800 3,319,100 3,871,099 (551,999) Budgetary Fund Balance, June 30 (3,011,859)$ 1,746,941 $ (5,648,182) $ (7,395,123) $

172
City of Wildomar

Required Supplementary Information
Schedule of the City’s Proportionate Share of the Net Pension Liability and Related Ratios as of the Measurement Date
Last Ten Years

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Proportionate share Plan fiduciary
of the net pension net position as a
Proportion of the Proportionate share liability as a percentage of the Measurment net pension of the net pension Covered percentage of total plan date liability 1 liability/(asset) payroll covered payroll pension Liability 2015 0.00398% 98,405 $ 564,727 $ 17.43% 81.15% 2016 0.00329% 261,259 890,684 29.33% 74.06% 2017 0.35900% 319,712 868,158 36.83% 73.31% 2018 0.00447% 389,754 1,028,756 37.89% 75.26% 2019 0.00425% 363,730 1,110,538 32.75% 75.26% 2020 0.00523% 418,113 1,131,704 36.95% 75.10% 2021 0.00636% 477,473 1,291,013 36.98% 88.29% 2022 -0.00593% 22,569 2,461,081 0.92% 76.68% 2023 0.00885% 632,528 2,894,632 21.85% 76.21% 2024 0.01691% 845,780 3,034,059 27.88% 78.08% 1 Proportion of net pension liability represents the plan's proportion of PERF C, which includes both the Miscellaneous and Safety Risk Pools excluding the 1959 Survivors Risk Pool.

173
City of Wildomar

Required Supplementary Information
Schedule of Contributions
CalPERS Pension Plan
Last Ten Fiscal Years

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Contractually Contributions in
required relation to the
contribution actuarially Contribution Contributions as a Fiscal (actuarially determined deficiency percentage of Year determined) contribution (excess) Covered payroll covered payroll 2016 98,643$ (98,643) $ - $ 890,684$ 11.07% 2017 126,213 (126,213) - 868,158 14.54% 2018 133,068 (133,068) - 1,028,756 12.93% 2019 144,479 (144,479) - 1,110,538 13.01% 2020 168,389 (168,389) - 1,131,704 14.88% 2021 208,752 (208,752) - 1,291,013 16.17% 2022 293,781 (293,781) - 2,461,081 11.94% 2023 342,890 (342,890) - 2,894,632 11.85% 2024 385,501 (385,501) - 3,034,059 12.71% 2025 491,099 (491,099) - 4,023,762 12.20% Notes to schedule:

Changes in Benefit Terms: There were no changes to benefit terms that applied to all members of the Public Agency Pool. However, individual employers in the Plan may have provided a benefit improvement to their employees such as Golden Handshakes, service purchases, and other prior service costs. Employers that have done so may need to report this information as a separate liability in their financial statement as CalPERS considers such amounts to be separately financed employer-specific liabilities. These employers should consult with their auditors. Additionally, the figures above do not include any liability impact that occurred after the June 30, 2023, valuation date, unless the liability impact is deemed to be material to the Public Agency Pool.

Changes in Assumptions: There were no assumption changes in 2023 or 2024. Effective with the June 30, 2021, valuation date (June 30, 2022, measurement date), the accounting discount rate was reduced from 7.15% to 6.90%.

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. In addition, demographic assumptions and the price inflation assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. The accounting discount rate was 7.15% for measurement dates June 30, 2017, through June 30, 2021, and 7.65% for measurement dates June 30, 2015, throu gh June 30, 2016.
174
City of Wildomar

Required Supplementary Information
Schedule of Changes in Net OPEB Liability and Related Ratios Last Ten Fiscal Years*

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Measurement Period 2025 2024 2023 2022 2021 2020 2019 2018 Total OPEB Liability
Service cost 141,582 $ 84,642 $ 82,071 $ 47,113 $ 41,325 $ 83,815 $ 81,374 $ 20,525 $ Interest 42,545 29,622 26,079 12,327 12,914 19,183 15,806 10,658 Actual and expected experience difference 5,756 80,198 10,094 97,168 3,213 (198,100) - 53,286 Changes in assumptions (121,731) 98,981 (3,621) (79,408) 34,979 (103,812) - - Changes in benefit terms 167,607 - - (13,264) - (9,717) - - Benefit payments (67,728) (46,618) (28,712) (19,761) (21,854) 231,095 (9,433) (6,622) Net Change in Total OPEB Liability 168,031 246,825 85,911 44,175 70,577 22,464 87,747 77,847 Total OPEB Liability - Beginning 902,495 655,670 569,759 525,584 455,007 432,543 344,796 266,949 Total OPEB Liability - Ending (a) 1,070,526 902,495 655,670 569,759 525,584 455,007 432,543 344,796 Plan Fiduciary Net Position
Contributions - employer 67,728 46,618 - 19,761 21,854 9,717 9,433 6,622 Net investment income - - - - - - - - Benefit payments (67,728) (46,618) - (19,761) (21,854) (9,717) (9,433) (6,622) Administrative expense - - - - - - - - Net Change in Plan Fiduciary Net Position - - - - - - - - Plan Fiduciary Net Position - Beginning - - - - - - - - Plan Fiduciary Net Position - Ending (b) - - - - - - - - Net OPEB Liability - Ending (a)-(b) 1,070,526$ 902,495 $ 655,670 $ 569,759 $ 525,584 $ 455,007 $ 432,543 $ 344,796 $ Plan fiduciary net position as a 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% percentage of the total OPEB liability
Covered payroll 4,522,988$ 3,305,095 $ 3,057,921 $ 2,794,338 $ 1,268,959 $ 1,234,997 $ 1,023,774 $ 993,955 $ Net OPEB liability as a 23.7% 27.3% 21.4% 20.4% 41.4% 36.8% 42.2% 34.7% percentage of covered payroll
Notes to Schedule:

The City does not accumulate assets accumulated in a trust that meets the criteria of GASB 75 to pay related benefits.

Contributions are fixed and not based on a measure of pay, therefore covered-employee payroll is used in the schedule.

Changes in assumptions: For measurement date June 30, 2025, the discount rate was changed from 4.21% to 5.20% *Historical information is required only for measurement periods for which GASB 75 is applicable. Future years’ information will be displayed up to 1 0 years as information becomes available.

175
City of Wildomar

Notes to Required Supplementary Information
June 30, 2025

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Budgets and Budgetary Data

Budgets for governmental funds are adopted on a basis consistent with generally accepted accounting principles (GAAP).

The City Council approves each year’s budget prior to the beginning of the new fiscal year. Public workshops are conducted prior to its adoption by the Council. Quarterly budget reports with adjustments are presented to Council. Supplemental appropriations that increase fund expenditures during the period are also approved by the Council. Transfers between line items within the same department may be done internally. At fiscal year-end, all operating budget appropriations lapse.

Excess of Expenditures over Appropriations

Expenditures exceeded appropriations in the categories in the following departments in the General Fund:

Department Appropriations Expenditures Excess
General Government:

Non-departmental 1,357,000 $ 1,418,448 $ (61,448) $ Community Development:

Development engineering 643,400 708,522 (65,122) Debt service:

Principal retirement - 108,312 (108,312) Interest - 16,885 (16,885)

Other major funds with expenditures exceeding appropriations:

Department Appropriations Expenditures Excess
Development Impact Fees:

Public works 47,200 $ 55,883 $ (8,683) $ Grants:

Capital outlay 3,037,400 3,645,455 (608,055)

176

SUPPLEMENTARY INFORMATION
177
City of Wildomar

Combining Balance Sheet
Non-Major Governmental Funds
June 30, 2025

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Air Quality
Management
Gas Tax District Measure A SLESF TDA
ASSETS
Pooled cash and investments 2,005,955 $ 374,832 $ 1,931,911 $ - $ - $ Restricted cash and investments - - - - - Receivables, net:

Accounts - 12,645 - - Interest 4,019 749 7,435 395 - Due from other governments 264,698 - 172,412 - - Inventory - - - - - Total assets 2,274,672 $ 388,226 $ 2,111,758 $ 395 $ - $

LIABILITIES
Accounts payable 117,805 $ - $ 78,790$ - $ - $ Accrued liabilities - - 4,752 - - Unearned revenues - - - - - Deposits payable - - - - - Due to other funds - - - 395 51,275 Total liabilities 117,805 - 83,542 395 51,275

FUND BALANCES (DEFICIT)
Nonspendable - - - - - Restricted for:

Public works 2,156,867 388,226 2,028,216 - Capital projects - - - - - Debt service - - - - - Unassigned - - - - (51,275) Total fund balances 2,156,867 388,226 2,028,216 - (51,275) Total liabilities and fund balances 2,274,672$ 388,226 $ 2,111,758 $ 395 $ - $ Special Revenue Funds

178

Continued

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Community Waste ARPA
Development Measure Z 2022-1 Services Cemetery (formerly Block Grant Park Special Tax A Fund Fund major)
1$ 57,527$ 180,161 $ 1,851,772 $ 1,062,629 $ 953,028 $ - - - - 533,388 - - - - - - - - - 401 6,793 5,614 193 - 20,523 662 - 37,419 - - - - - 4,730 - 1$ 78,050$ 181,224 $ 1,858,565 $ 1,643,780 $ 953,221 $ -$ 38,505$ 4,091 $ 4,945 $ 28,930 $ - $ - 4,748 - 76 19,812 58 - - - - - 486,402 - - - - 184,874 - - - - - - - - 43,253 4,091 5,021 233,616 486,460 - - - - 4,730 - 1 34,797 177,133 - - - - - - 1,853,544 1,405,434 466,761 - - - - - - - - - - - - 1 34,797 177,133 1,853,544 1,410,164 466,761 1$ 78,050$ 181,224 $ 1,858,565 $ 1,643,780 $ 953,221 $ Special Revenue Funds

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180
City of Wildomar

Combining Balance Sheet
Non-Major Governmental Funds
June 30, 2025 Concluded

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Debt Service
Fund Total
Non-Major
2022-2 Assessment Capital Streetlight Governmental
Special Tax B Districts Projects Fund Funds

ASSET S
Pooled cash and investments - $ 3,380,152$ - $ 89,010$ 11,886,978$ Restricted cash and investments - - - 54,718 588,106 Receivables, net:

Accounts - - - - 12,645 Interest 344 8,419 - 179 34,541 Due from other governments 492 18,302 - - 514,508 Inventory - - - - 4,730 Total assets 836 $ 3,406,873$ - $ 143,907$ 13,041,508$

LIABILITIES
Accounts payable - $ 71,065$ 8,200 $ - $ 352,331$ Accrued liabilities - - - - 29,446 Unearned revenues - - - - 486,402 Deposits payable - - - - 184,874 Due to other funds 836 - 205,596 - 258,102 Total liabilities 836 71,065 213,796 - 1,311,155

FUND BALANCES (DEFICIT)
Nonspendable - - - - 4,730 Restricted for:

Public works - - - - 4,785,240 Capital projects - 3,335,808 - - 7,061,547 Debt service - - - 143,907 143,907 Unassigned - - (213,796) - (265,071) Total fund balances - 3,335,808 (213,796) 143,907 11,730,353 Total liabilities and fund balances 836 $ 3,406,873$ - $ 143,907$ 13,041,508$ Capital Project Funds
Special Revenue
Funds

181
City of Wildomar

Combining Statement of Revenues, Expenditures and Changes in Fund Balances Non-Major Governmental Funds
For the Year Ended June 30, 2025

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Air Quality
Management
Gas Tax District Measure A SLESF TDA

REVENUES
Taxes - $ - $ - $ - $ - $ Intergovernmental 2,038,951 48,423 995,151 194,663 - Charges for services - - - - - Fines and forfeitures - - - - - Use of money and property 29,953 6,436 84,943 2,015 - Total Revenues 2,068,904 54,859 1,080,094 196,678 -

EXPENDITURES
Current:

General government - - 1,516 - - Public safety - - - - - Community services - - - - Public works 1,046,381 4,500 504,571 - 51,275 Capital outlay 27,972 - - - - Debt service:

Principal retirement 1,210 - 1,210 - - Interest 877 - 877 - - Total Expenditures 1,076,440 4,500 508,174 - 51,275 Excess (Deficiency) of Revenues
Over (Under) Expenditures 992,464 50,359 571,920 196,678 (51,275)

OTHER FINA NCING SOURCES (USES)
Transfers in - - - - - Transfers out (9,331) - (57,355) (196,678) - Total Other Financing Sources (Uses) (9,331) - (57,355) (196,678) - Net change in fund balances 983,133 50,359 514,565 - (51,275)

FUND BA LA NCES (DEFICIT)
Beginning of year, as previously reported 1,173,734 337,867 1,513,651 - - Adjustments and restatements - - - - - Beginning of year, restated 1,173,734 337,867 1,513,651 - - End of year 2,156,867 $ 388,226 $ 2,028,216 $ - $ (51,275)$ Special Revenue Funds

182

Continued

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Community Waste
Development Measure Z 2022-1 2022-2 Services Cemetery
Block Grant Park Special Tax A Special Tax A Fund Fund
-$ - $ - $ - $ 224,069$ 824,981 $ - 381,524 167,647 - - - - 11,390 - - - 75,151 - - - - - 3,084 - - 1,763 - 78,954 90,878 - 392,914 169,410 - 303,023 994,094 - - - - - 958,787 - - 21,394 - - - - 316,706 - - - - - - 42,820 - 115,055 299 - 6,220 - - - 143,143 - 1,022 - - - 4,089 - 607 - - - 2,428 - 324,555 64,214 - 115,055 1,108,746 - 68,359 105,196 - 187,968 (114,652) - - - - - - - - (8,559) - - - - - (8,559) - - - - 68,359 96,637 - 187,968 (114,652) 1 (33,562) 80,496 123,581 1,665,576 1,524,816 - - - (123,581) - - 1 (33,562) 80,496 - 1,665,576 1,524,816 1$ 34,797$ 177,133 $ - $ 1,853,544$ 1,410,164 $ Special Revenue Funds

183
City of Wildomar

Combining Statement of Revenues, Expenditures and Changes in Fund Balances Non-Major Governmental Funds
For the Year Ended June 30, 2025 Concluded

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Debt Service
Fund Total
ARPA Non-Major
(formerly 2022-2 Capital Assessment Streetlight Governmental major) Special Tax B Projects Districts Fund Funds

REVENUES
Taxes - $ - $ - $ - $ - $ 1,049,050$ Intergovernmental 962,453 144,034 - 1,579,957 - 6,512,803 Charges for services - - - - - 86,541 Fines and forfeitures - - - - - 3,084 Use of money and property 60,538 1,512 - 65,716 3,527 426,235 Total Revenues 1,022,991 145,546 - 1,645,673 3,527 8,077,713

EXPENDITURES
Current:

General government 437,176 - - - - 1,397,479 Public safety 461,992 - - 244,334 - 727,720 Community services - - - - - 316,706 Public works 3,537 145,546 141,239 662,814 10,233 2,728,270 Capital outlay - - - 3,564 13,958 194,857 Debt service:

Principal retirement 48,701 - - - 94,844 151,076 Interest 6,629 - - - 61,447 72,865 Total Expenditures 958,035 145,546 141,239 910,712 180,482 5,588,973 Excess (Deficiency) of Revenues
Over (Under) Expenditures 64,956 - (141,239) 734,961 (176,955) 2,488,740

OTHER FINANCING SOURCES (USES)
Transfers in - - - - 174,780 174,780 Transfers out - - - (287,067) - (558,990) Total Other Financing Sources (Uses) - - - (287,067) 174,780 (384,210) Net change in fund balances 64,956 - (141,239) 447,894 (2,175) 2,104,530

FUND BALANCES (DEFICIT)
Beginning of year - - (72,557) 3,129,154 146,082 9,588,839 Adjustments and restatements 401,805 - - (241,240) - 36,984 Beginning of year, restated 401,805 - (72,557) 2,887,914 146,082 9,625,823 End of year 466,761 $ - $ (213,796)$ 3,335,808 $ 143,907 $ 11,730,353$ Capital Project FundsSpecial Revenue Funds

184
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – Gas Tax – Special Revenue Fund
For the year ended June 30, 2025

-80-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 1,173,734$ 1,173,734 $ 1,173,734 $ - $ Resources (Inflows):

Intergovernmental 2,003,200 2,000,300 2,038,951 38,651 Use of money and property - - 29,953 29,953 Transfers in 70,000 - - - Amounts Available for Appropriations 3,246,934 3,174,034 3,242,638 68,604 Charges to Appropriations (Outflows):

Current:

Public works 2,757,800 1,176,400 1,046,381 130,019 Capital outlay - 27,700 27,972 (272) Debt Service:

Principal retirement - - 1,210 (1,210) Interest - - 877 (877) Transfers out - - 9,331 (9,331) Total Charges to Appropriations 2,757,800 1,204,100 1,085,771 118,329 Budgetary Fund Balance, June 30 489,134$ 1,969,934 $ 2,156,867 $ 186,933 $

185
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – Air Quality Management District – Special Revenue Fund For the year ended June 30, 2025

-81-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 337,867$ 337,867 $ 337,867 $ - $ Resources (Inflows):

Intergovernmental 48,000 50,000 48,423 (1,577) Use of money and property - - 6,436 6,436 Amounts Available for Appropriations 385,867 387,867 392,726 4,859 Charges to Appropriations (Outflows):

Current:

Public works 385,900 4,500 4,500 - Capital outlay - 77,500 - 77,500 Transfers out 2,400 2,400 - 2,400 Total Charges to Appropriations 388,300 84,400 4,500 79,900 Budgetary Fund Balance, June 30 (2,433)$ 303,467 $ 388,226 $ 84,759 $

186
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – Measure A – Special Revenue Fund
For the year ended June 30, 2025

-82-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 1,513,651$ 1,513,651 $ 1,513,651 $ - $ Resources (Inflows):

Intergovernmental 1,063,000 1,093,000 995,151 (97,849) Use of money and property 500 57,100 84,943 27,843 Amounts Available for Appropriations 2,577,151 2,663,751 2,593,745 (70,006) Charges to Appropriations (Outflows):

Current:

General government 13,600 16,600 1,516 15,084 Public works 1,115,400 1,788,400 504,571 1,283,829 Capital outlay 127,500 - - - Debt Service:

Principal retirement - - 1,210 (1,210) Interest - - 877 (877) Transfers out 56,800 56,800 57,355 (555) Total Charges to Appropriations 1,313,300 1,861,800 565,529 1,296,271 Budgetary Fund Balance, June 30 1,263,851$ 801,951 $ 2,028,216 $ 1,226,265 $

187
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – SLESF – Special Revenue Fund
For the year ended June 30, 2025

-83-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 -$ - $ - $ - $ Resources (Inflows):

Intergovernmental 164,000 194,700 194,663 (37) Use of money and property - - 2,015 2,015 Amounts Available for Appropriations 164,000 194,700 196,678 1,978 Charges to Appropriations (Outflows):

Transfers out 163,000 200,000 196,678 3,322 Total Charges to Appropriations 163,000 200,000 196,678 3,322 Budgetary Fund Balance, June 30 1,000$ (5,300) $ - $ 5,300 $

188
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – TDA – Special Revenue Fund
For the year ended June 30, 2025

-84-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 -$ - $ - $ - $ Resources (Inflows):

Intergovernmental - 216,500 - (216,500) Amounts Available for Appropriations - 216,500 - (216,500) Charges to Appropriations (Outflows):

Current:

Public works 381,400 216,500 51,275 165,225 Total Charges to Appropriations 381,400 216,500 51,275 165,225 Budgetary Fund Balance, June 30 (381,400)$ - $ (51,275)$ (51,275) $

189
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – Community Development Block Grant – Special Revenue Fund For the year ended June 30, 2025

-85-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 1$ 1 $ 1 $ - $ Resources (Inflows):

Intergovernmental 125,000 - - - Amounts Available for Appropriations 125,001 1 1 - Charges to Appropriations (Outflows):

Current:

Public works 125,000 - - - Total Charges to Appropriations 125,000 - - - Budgetary Fund Balance, June 30 1$ 1 $ 1 $ - $

190
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – Measure Z Park – Special Revenue Fund For the year ended June 30, 2025

-86-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 (33,562)$ (33,562) $ (33,562) $ - $ Resources (Inflows):

Intergovernmental 412,100 - 381,524 381,524 Charges for services 12,100 - 11,390 11,390 Use of money and property 100 - - - Amounts Available for Appropriations 390,738 (33,562) 359,352 392,914 Charges to Appropriations (Outflows):

Current:

Community services 414,000 378,200 316,706 61,494 Capital outlay - 5,300 6,220 (920) Debt Service:

Principal retirement - - 1,022 (1,022) Interest - - 607 (607) Total Charges to Appropriations 414,000 383,500 324,555 58,945 Budgetary Fund Balance, June 30 (23,262)$ (417,062) $ 34,797 $ 451,859 $

191
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – 2022-1 Special Tax A – Special Revenue Fund For the year ended June 30, 2025

-87-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 80,496$ 80,496 $ 80,496 $ - $ Resources (Inflows):

Intergovernmental 45,000 170,600 167,647 (2,953) Use of money and property - - 1,763 1,763 Amounts Available for Appropriations 125,496 251,096 249,906 (1,190) Charges to Appropriations (Outflows):

Current:

Public safety 32,100 25,300 21,394 3,906 Public works 87,600 195,700 42,820 152,880 Transfers out - - 8,559 (8,559) Total Charges to Appropriations 119,700 221,000 72,773 148,227 Budgetary Fund Balance, June 30 5,796$ 30,096 $ 177,133 $ 147,037 $ 192
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – Waste Services – Special Revenue Fund For the year ended June 30, 2025

-88-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 1,665,576$ 1,665,576 $ 1,665,576 $ - $ Resources (Inflows):

Taxes 200,000 - 224,069 224,069 Use of money and property 15,000 - 78,954 78,954 Amounts Available for Appropriations 1,880,576 1,665,576 1,968,599 303,023 Charges to Appropriations (Outflows):

Current:

Public works 111,800 119,900 115,055 4,845 Total Charges to Appropriations 111,800 119,900 115,055 4,845 Budgetary Fund Balance, June 30 1,768,776$ 1,545,676 $ 1,853,544 $ 307,868 $ 193
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – Cemetery Fund – Special Revenue Fund For the year ended June 30, 2025

-89-
Budgeted amounts Actual Variance with
Original Final amounts Final budget
Budgetary fund balance, July 1 1,524,816$ 1,524,816 $ 1,524,816 $ - $ Resources (inflows):

Taxes 633,900 846,000 824,981 (21,019) Charges for services 190,600 156,000 75,151 (80,849) Fines and forfeitures - - 3,084 3,084 Use of money and property 10,000 80,000 90,878 10,878 Transfers in 100,000 1,843,000 - (1,843,000) Amounts available for
appropriations 2,459,316 4,449,816 2,518,910 (1,930,906) Charges to appropriations (outflows):

Current:

General government 792,100 792,100 958,787 (166,687) Public Works - - 299 (299) Capital outlay 93,400 1,922,900 143,143 1,779,757 Debt Service:

Principal retirement - - 4,089 (4,089) Interest - - 2,428 (2,428) Transfers out 192,800 120,000 - 120,000 Total charges to appropriations 1,078,300 2,835,000 1,108,746 1,726,254 Budgetary fund balance, June 30 1,381,016$ 1,614,816 $ 1,410,164 $ (204,652) $ 194
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – ARPA – Special Revenue Fund
For the year ended June 30, 2025

-90-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 401,805$ 401,805 $ 401,805 $ - $ Resources (Inflows):

Intergovernmental - 1,776,200 962,453 (813,747) Use of money and property - 53,600 60,538 6,938 Amounts Available for Appropriations 401,805 2,231,605 1,424,796 (806,809) Charges to Appropriations (Outflows):

Current:

General government - 834,700 437,176 397,524 Public safety - 462,000 461,992 8 Public works 275,000 4,500 3,537 963 Debt service
Principal retirement - - 48,701 (48,701) Interest - - 6,629 (6,629) Total Charges to Appropriations 275,000 1,301,200 958,035 343,165 Budgetary Fund Balance, June 30 126,805$ 930,405 $ 466,761 $ (463,644) $ 195
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – 2022-2 Special Tax B – Special Revenue Fund For the year ended June 30, 2025

-91-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 -$ - $ - $ - $ Resources (Inflows):

Developer participation 88,400 145,400 144,034 (1,366) Use of money and property - - 1,512 1,512 Amounts Available for Appropriations 88,400 145,400 145,546 146 Charges to Appropriations (Outflows):

Current:

Public works - 145,400 145,546 (146) Total Charges to Appropriations - 145,400 145,546 (146) Budgetary Fund Balance, June 30 88,400$ - $ - $ - $ 196
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – Capital Projects – Capital Projects Fund For the year ended June 30, 2025

-92-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 (72,557)$ (72,557) $ (72,557) $ - $ Resources (Inflows):

Intergovernmental 953,100 160,600 - (160,600) Transfers in 70,000 70,000 - (70,000) Amounts Available for Appropriations 950,543 158,043 (72,557) (230,600) Charges to Appropriations (Outflows):

Current:

Public works 1,800,000 218,000 141,239 76,761 Total Charges to Appropriations 1,800,000 218,000 141,239 76,761 Budgetary Fund Balance, June 30 (849,457)$ (59,957) $ (213,796) $ (153,839) $ 197
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – Assessment Districts – Capital Projects Fund For the year ended June 30, 2025

-93-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 2,887,914$ 2,887,914 $ 2,887,914 $ - $ Resources (Inflows):

Intergovernmental 2,094,800 1,597,600 1,579,957 (17,643) Use of money and property 1,200 1,200 65,716 64,516 Amounts Available for Appropriations 4,983,914 4,486,714 4,533,587 46,873 Charges to Appropriations (Outflows):

Current:

General government 8,000 - - - Public safety 163,400 233,000 244,334 (11,334) Public works 1,183,400 1,408,000 662,814 745,186 Capital outlay 3,500 3,500 3,564 (64) Transfers out 44,800 64,000 287,067 (223,067) Total Charges to Appropriations 1,403,100 1,708,500 1,197,779 510,721 Budgetary Fund Balance, June 30 3,580,814$ 2,778,214 $ 3,335,808 $ 557,594 $

198
City of Wildomar

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – Streetlight Fund – Debt Service Fund For the year ended June 30, 2025

-94-
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary Fund Balance, July 1 146,082$ 146,082 $ 146,082 $ - $ Resources (Inflows):

Charges for services 176,600 176,600 - (176,600) Use of money and property 1,500 1,500 3,527 2,027 Transfers in - - 174,780 174,780 Amounts Available for Appropriations 324,182 324,182 324,389 207 Charges to Appropriations (Outflows):

Current:

Public works 6,400 6,400 10,233 (3,833) Capital outlay 13,400 13,400 13,958 (558) Debt Service:

Principal retirement 94,900 94,900 94,844 56 Interest 61,500 61,500 61,447 53 Total Charges to Appropriations 176,200 176,200 180,482 (4,282) Budgetary Fund Balance, June 30 147,982$ 147,982 $ 143,907 $ (4,075) $

199
City of Wildomar

Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2025

-95-
Custodial Funds
Total
2022-2 2022-3 Custodial
Special Tax A Verano Funds
ASSETS
Cash and investments 7,891,266 $ 3,018,391 $ 10,909,657 $ Receivables, net:

Interest 26,081 9,982 36,063 Due from other governments - 4,575 4,575 Total assets 7,917,347 3,032,948 10,950,295

LIABILITIES
Accounts payable 425 638 1,063 Total liabilities 425 638 1,063

NET POSITION
Restricted for:

Individuals and organizations 7,916,922 3,032,310 10,949,232 Total net position 7,916,922 $ 3,032,310 $ 10,949,232 $ 200
City of Wildomar

Combining Statement of Changes in Fiduciary Net Position Custodial Funds
For the year ended June 30, 2025

-96-
Custodial Funds
Total
2022-2 2022-3 Custodial
Special Tax A Verano Funds

A DDITIONS
Special assessments 361,317 $ 342,497 $ 703,814 $ Investment earnings 75,684 165,436 241,120 Proceeds from CFD debt 7,643,271 5,735,846 13,379,117 Total Additions 8,080,272 6,243,779 14,324,051

DEDUCTIONS
Professional and contractual services 242,267 282,711 524,978 Debt service payments - 165,714 165,714 Contributions to other entity 44,664 3,004,284 3,048,948 Total Deductions 286,931 3,452,709 3,739,640 Change in Net Position 7,793,341 2,791,070 10,584,411 Net Position, Beginning of year - - - Adjustments and restatements 123,581 241,240 364,821 Beginning of year, restated 123,581 241,240 364,821 Net Position, End of year 7,916,922 $ 3,032,310 $ 10,949,232 $ 201

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202

STATISTICAL SECTION
203

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204
City of Wildomar

Statistical Section

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This section of the City of Wildomar's Annual Comprehensive Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City's overall financial health.

CONTENTS

Financial Trends - These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time. As a newly incorporated City, information relative to the exact city boundaries prior to incorporation is not readily available in most cases. Therefore, trend information will be developed over time and reported annually.

Net Position by Component
Changes in Net Position
Fund Balances of Governmental Funds
Changes in Fund Balances of Governmental Funds

Revenue Capacity - These schedules contain information to help the reader assess the factors affecting the City's ability to generate its property taxes.

Assessed Value and Estimated Actual Value of Taxable Property Direct and Overlapping Property Tax Rates
Principal Property Taxpayers
Property Tax Levies and Collections

Debt Capacity - These schedules present information to help the reader assess the affordability of the City's current levels of outstanding debt and the City's ability to issue additional debt in the . . .

Ratio of Outstanding Debt by Type
Direct and Overlapping Governmental Activities
Legal Debt Margin Information

Demographic and Economic Information - These schedules offer demographic and economic indicators to help the reader understand the environment in which the City's financial activities take place as well as allow comparisons over time and with other governments.

Demographic and Economic Statistics
Principal Employers
Full-time Equivalent City Government Employees by Function/Program

Operating Information - These schedules contain information about the City's operations and resources in order to help the reader understand how the City's financial information related to the These schedules contain information about the City's operations and resources in order to help the reader understand how the City's financial information related to the . . .

Operating Indicators by Function/ Program
Capital Asset Statistics by Function/Program
Miscellaneous Statistics

Sources: Unless otherwise noted, the information in these schedules is derived from various internal and other governmental and nonǦgovernmental sources where reliability of the data could be ascertained.

205
City of Wildomar

Net Position by Component*
(Accrual Basis of Accounting)
Last Ten Fiscal Years

-98-
2025 2024 2023 2022 2021
Governmental Activities
57,155,285$ 54,876,373 $ 48,267,691 $ 41,693,202 $ 37,642,188 $ Community Development Projects 12,620,064 12,380,258 7,896,476 7,657,447 6,487,516 Community Services 9,239,323 7,938,189 7,812,129 93,157 226,671 Public Safety - - - - - Public Works 6,603,987 4,690,828 3,392,212 1,567,098 490,110 Capital Projects 3,802,569 3,530,959 4,010,172 2,117,331 1,758,079 Cemetery - - - - - Debt Service 143,907 146,082 142,759 143,004 150,957 Nonexpendable - - - - - 14,191,312 8,992,033 3,279,633 9,591,470 5,014,648 Total Governmental Activities Net Position 103,756,447$ 92,554,722 $ 74,801,072 $ 62,862,709 $ 51,770,169 $ *Note: Wildomar Cemetery District (District) is included in fiscal years 2012 to 2015.

The District became a subsidiary of the City in fiscal year 2012. However, for fiscal year 2016 the District is not included in the governmental activities and its operations are discretely presented in the financial statements.

Source: City Finance Department
Unrestricted
Restricted for:

Net Investment in Capital Assets
Fiscal Year

206

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2020 2019 2018 2017 2016
31,157,018$ 29,815,490 $ 27,511,461 $ 24,487,895 $ 23,919,815 $ 5,429,042 5,077,926 5,049,328 4,807,087 3,541,211 263,153
- - - - 18,180 304,417 124,743 79,976 367,868 249,576 1,436,063 1,324,591 1,045,702 409,383 232,411 - - - - - 147,170 333,651
- - - - - 2,020,017 1,157,175 652,571 134,019 457,120 40,756,880$ 37,833,576 $ 34,339,038 $ 30,206,252 $ 28,418,313 $ Fiscal Year

207
City of Wildomar

Changes in Net Position
(Accrual Basis of Accounting)
Last Ten Fiscal Years

-100-
2025 2024 2023 2022 2021
General Government 6,065,059 $ 10,041,717 $ 5,674,367 $ 3,323,123 $ 2,827,798 $ 11,837,259 10,958,201 10,871,033 10,121,795 7,983,251 3,752,010 2,863,098 3,235,078 2,678,691 2,407,683 246,623 295,057 351,974 245,446 212,698 1,139,454 964,081 1,145,719 1,279,393 936,156 6,079,943 5,592,142 3,479,879 3,889,897 7,124,538 Interest on long-term debt 186,743 88,911 83,225 86,648 45,351 Total Governmental Activities Expenses 29,307,091 30,803,207 24,841,275 21,624,993 21,537,475 General Government 452,689 5,856,860 1,640,579 2,024,722 1,375,137 Public Safety 295,298 106,301 87,048 75,392 103,853 4,799,245 4,740,155 4,167,982 2,870,909 2,162,593 - - - 1,322 - 11,390 10,771 11,559 11,508 2,907 1,878,467 1,914,264 1,372,455 955,743 848,664 Total Charges for Services 7,437,089 12,628,351 7,279,623 5,939,596 4,493,154 General Government 1,002,783 5,908,455 1,923,388 907,561 360,997 194,663 186,159 165,271 161,285 156,727 471,422 361,915 368,005 379,425 473,279 - - - - - Community Services - - - - - 3,207,948 3,098,533 3,090,517 2,707,892 3,183,238 Total Operating Contri butions and Grants 4,876,816 9,555,062 5,547,181 4,156,163 4,174,241 Capital Contributions and Grants:

Community Development - - - - - 3,672,757 2,466,618 1,812,721 4,141,262 7,851,995 - - - - - Total Capital Contributions and Grants 3,672,757 2,466,618 1,812,721 4,141,262 7,851,995 Total Governmental Activities Program
Revenues 15,986,662 24,650,031 14,639,525 14,237,021 16,519,390 (13,320,429)$ (6,153,176) $ (10,201,750) $ (7,387,972) $ (5,018,085) $ * N ote : Wildom ar Ce m ete ry District (District) is included in fiscal ye ars 2012 to 2015.

The District became a subsidiary of the City in fiscal year 2012. However, for fiscal year 2016 the District is not incl uded in the governmental activities and its operations are discretely presented i n the fi nanci al statements.

Source: City Finance Department
Community Services
Public Works
Public Works

TOTAL NET REVENUES (EXPENSES)
Charges for Services:

Community Services
Community Development
Public Works
Interest on long-term debt
Public Works
Econom ic Deve lopm e nt
Econom ic De ve lopm e nt

EXPENSES
Governmental Activities:

Public Safe ty
Fiscal Year
Community Development
Community Development
Operating Contributions and Grants:

Public Safe ty

PROGRAM REVENUES
Governmental Activities:

Econom ic De ve lopm e nt

208

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2020 2019 2018 2017 2016
3,061,012$ 3,404,115 $ 2,469,147 $ 2,494,133 $ 2,465,875 $ 9,104,994 7,953,196 5,957,516 5,517,602 5,109,023 2,270,421 2,738,282 2,660,031 2,389,801 2,569,072 166,124 - - - - 908,428 219,647 219,647 219,647 219,647 3,953,145 3,823,531 3,508,423 3,272,317 3,649,428 118,152 - - - - 19,582,276 18,138,771 14,814,764 13,893,500 14,013,045 898,082 380,352 898,352 1,539,067 636,577 97,219 45,395 10,581 10,466 11,630 1,708,190 2,075,499 2,054,708 2,397,374 2,773,440 - - - - - 7,099 11,291 15,570 7,832 4,673 750,290 423,706 239,777 230,197 299,806 3,460,880 2,936,243 3,218,988 4,184,936 3,726,126 369,968 515,621 479,537 502,469 340,463 155,948 148,747 116,667 139,416 143,942 940,616 597,995 545,537 387,589 339,399 - - - - - - - - - - 1,960,065 2,008,341 3,230,361 3,398,998 2,497,709 3,426,597 3,270,704 4,372,102 4,428,472 3,321,513 - - - - - 1,812,906 4,106,559 - - 884,658 - - - - - 1,812,906 4,106,559 - - 884,658 8,700,383 10,313,506 7,591,090 8,613,408 7,932,297 (10,881,893)$ (7,825,265) $ (7,223,674) $ (5,280,092) $ (6,080,748) $ Fiscal Year

209
City of Wildomar

Changes in Net Position (Continued)
(Accrual Basis of Accounting)
Last Ten Fiscal Years

-102-
2025 2024 2023 2022 2021
TOTAL NET REVENUES (EXPENSES) - Carry Forward (13,320,429)$ (6,153,176) $ (10,201,250) $ (7,387,972) $ (5,018,085) $ 7,250,034$ 6,841,492 $ 5,584,964 $ 5,100,186 $ 4,875,249 $ 9,001,868 8,812,130 8,413,581 8,783,565 6,695,060 1,340,779 1,232,303 2,599,362 1,238,074 1,206,707 3,852,974 3,503,527 3,204,325 3,004,100 2,837,391 203,807 227,558 209,120 331,638 244,476 2,666,579 2,010,405 695,396 (50,453) 38,793 570,934 224,482 338,988 73,402 133,698 Contributions from Other Entities - - - - - Spe cial Ite m - - - - - 24,886,975$ 22,851,897 $ 21,045,736 $ 18,480,512 $ 16,031,374 $ 11,566,546$ 16,698,721 $ 10,844,486 $ 11,092,540 $ 11,013,289 $ *Note: Wildomar Cemetery District (District) is included in fiscal years 2012 to 2015.

The District became a subsidiary of the City in fiscal year 2012. However, for fiscal year 2016 the District is not included in the governmental activities and its operations are discretely presented in the financial statements.

Fiscal Year
Property Taxes, levied for general purpose
Taxes:

NET POSITION

GENERAL REVENUES AND OTHER CHARGES IN
Governmental Activities:

Source: City Finance Department

CHANGES IN NET POSITION
Total Governmental Activities
Other
Investments Earnings
Motor Vehicle in Lieu Tax
Other Taxes
Franchise Taxes
Sales Taxes

210

-103-
2020 2019 2018 2017 2016
(10,881,893)$ (7,825,265) $ (7,223,674) $ (5,280,092) $ (6,080,748) $ 4,608,569$ 4,434,404 $ 4,232,672 $ 4,002,949 $ 3,774,015 $ 5,054,702 2,872,982 1,780,008 1,666,324 1,772,493 1,080,234 1,077,164 1,057,586 1,015,225 1,056,712 2,718,513 2,580,800 2,392,884 15,755 13,778 165,446 154,049 165,129 255,866 140,501 109,658 67,542 19,432 10,659 6,590 68,075 132,862 1,897,363 101,253 71,073 - - - - - - - - - 1,185,337 13,805,197$ 11,319,803 $ 11,545,074 $ 7,068,031 $ 8,020,499 $ 2,923,304$ 3,494,538 $ 4,321,400 $ 1,787,939 $ 1,939,751 $ Fiscal Year

211
City of Wildomar

Fund Balances of Governmental Funds*
(Modified Accrual Basis of Accounting)
Last Ten Fiscal Years

-104-
2025 2024 2023 2022 2021

GENERAL FUND
-$ - $ - $ - $ - $ Nonspendable:

Inventory - - - - - Prepai d Items 2,758 2,758 - - - Deposits - - - - - Restricted
Debt Service - - - - - Committed 3,420,340 - - - - Unassigned 11,717,417 10,223,844 6,069,630 3,828,664 2,444,793 15,140,515$ 10,226,602 $ 6,069,630 $ 3,828,664 $ 2,444,793 $ Inventory - $ 2,789 $ - $ - $ - $ Prepai d Items 4,730 - - - - Cemetery Endowment - - - - - Restricted for: -
Community development projects 12,620,064 12,380,258 6,684,815 7,657,447 6,487,516 9,239,323 7,938,189 243,400 93,157 226,671 Public safety - - - - - Public works 4,785,240 3,229,330 3,987,212 1,567,098 490,110 Capital projects 7,061,547 6,718,562 8,644,166 2,117,331 1,758,079 143,907 146,082 2,487,061 143,004 150,957 Cemetery - - - - - Committed 1,055,900 - - 5,895,809 3,275,440 Unassigned (5,913,253) (4,061,878) (4,038,658) (1,956,708) 1,466,456 28,997,458$ 26,353,332 $ 18,007,996 $ 15,517,138 $ 13,855,229 $ *Note: Wildomar Cemetery District (District) is included in fiscal years 2012 to 2015.

The District became a subsidiary of the City in fiscal year 2012. However, for fiscal year 2016 the District is not included in the governmental activities and its operations are discretely presented i n the fi nanci al statements .

Unreserved
Total General Fund

ALL OTHER GOVERNMENTAL FUNDS
Fiscal Year
Nonspendable:

Source: City Finance Department
Total All Other Governmental Funds
Community Services
Debt service

212

-105-
2020 2019 2018 2017 2016
-$ - $ - $ - $ - $ - - - - - - 17,533 - - 11,184 - - - - - - - - - - - - - - - 878,286 1,425,789 1,552,339 869,757 946,503 878,286$ 1,443,322 $ 1,552,339 $ 869,757 $ 957,687 $ -$ - $ - $ - $ - $ - 20,899 - - 1,107 - - - - - 5,429,042 239,224 5,049,328 4,807,087 3,541,211 263,153 - - - - - 583,766 - - 18,180 304,417 124,743 79,976 367,868 249,576 1,436,063 1,324,591 1,045,702 409,383 232,411 147,170 - - - - - 333,651 - - - 1,911,578 - - - - (575,345) (802,696) (3,666,121) (1,663,955) (1,486,366) 8,916,078$ 1,824,178 $ 2,508,885 $ 3,920,383 $ 2,556,119 $ Fiscal Year

213
City of Wildomar

Changes in Fund Balances of Governmental Funds*
(Modified Accrual Basis of Accounting)
Last Ten Fiscal Years

-106-
2025 2024 2023 2022 2021
Taxes (1) 17,907,478$ 17,241,889 $ 16,921,648 $ 15,415,484 $ 12,983,948 $ Licenses and Permits 4,919,472 4,780,192 4,191,857 2,914,180 2,185,629 Intergovernmental 13,009,560 17,115,875 11,970,740 10,931,122 8,662,540 Charges for Services 114,150 311,662 348,456 206,855 193,945 Fines and Forfeitures 76,508 66,610 62,973 56,705 84,020 Use of Money and Property 2,697,996 2,020,362 695,397 (50,452) 38,797 Contributions - - 56,854 1,963,765 - Developer Participation 295,691 5,687,735 1,602,594 101,562 1,333,216 Miscellaneous 214,655 92,195 53,052 74,023 133,755 Total Revenues 39,235,510 47,316,520 35,903,571 31,613,244 25,615,850 General Government 5,670,416 9,486,132 4,527,166 3,178,267 2,714,432 Public Safety 11,720,243 10,861,711 10,780,102 10,031,985 7,946,947 Community Development 3,522,937 2,807,069 3,061,022 2,844,354 2,407,683 Economic Development 246,623 295,057 351,974 271,791 212,698 Community Services 863,037 720,288 905,169 1,057,508 706,244 Public Works 4,193,243 8,776,711 4,065,061 5,000,008 3,965,255 Capital Outlay 4,747,013 3,342,796 7,072,777 4,621,702 3,445,435 Debt Service:

Cost of Issuance - - - - - Principal Retirement 259,388 463,424 458,662 365,551 77,268 Interest and Fiscal Charges 89,750 89,301 84,803 85,792 79,023 Total Expenditures 31,312,650 36,842,489 31,306,736 27,456,958 21,554,985 Over (Under) Expenditures 7,922,860 10,474,031 4,596,835 4,156,286 4,060,865 Lease/subscription acquisition - 546,065 - - - - - - - - Prem iums on bonds issue d - - - - - 2,603,578 506,080 346,959 319,839 301,362 (2,603,578) (506,080) (346,959) (319,839) (301,362) Proceeds from Loan - - - - - Other Debts Issued - - 134,989 1,334,287 - Contributions from Other Entities - - - - - Total Other Financing Sources (Uses) - 546,065 134,989 1,334,287 - Net Change in Fund Balances 7,922,860 11,020,096 4,731,824 5,490,573 4,060,865 Fund Balances, Beginning of Year 36,579,934 24,077,626 19,345,802 13,855,229 9,794,364 Restatements (364,821) 1,482,212 - - - Fund Balances, Beginning of Year,
as Restated: 36,215,113 25,559,838 19,345,802 13,855,229 9,794,364 Fund Balances, End of Year 44,137,973 $ 36,579,934 $ 24,077,626 $ 19,345,802 $ 13,855,229 $ NON CAPITAL EXPENDITURES 1.35% 2.02% 2.50% 2.30% 0.00%
Source: City Finance Department

REVENUES

EXPENDITURES
Current:

Fiscal Year
*Note: Wildomar Cemetery District (District) is included in fiscal years 2012 to 2015. The District became a subsidiary o f the City i n fiscal year 2012. However, for fiscal year 2016 - 2023 the District is not included in the governmental activities and its operations are discretely presented in the financial statements. In Fiscal Year 2024, it was determined that the activity was a blended (1) Sales tax is the largest component of taxes, however, the City has chosen not to display top payers due to confidenciality concerns in the subsequent revenue schedules.

Excess (Deficiency) of Revenues

OTHER FINANCING SOURCES (USES)
Transfers Out

DEBT SERVICE AS A PERCENTAGE OF
Transfers In
Bonds issued

214

-107-
2020 2019 2018 2017 2016
10,874,493$ 8,505,203 $ 7,229,816 $ 6,940,365 $ 6,743,720 $ 1,665,127 1,883,515 2,003,200 2,345,877 2,754,563 9,035,650 12,304,486 7,033,686 4,650,707 3,612,975 156,216 37,022 38,769 18,614 14,895 84,703 49,358 45,552 41,039 52,654 109,659 67,542 19,431 10,659 6,590 - - - - - 895,215 526,149 867,838 1,510,618 598,955 229,314 133,490 8,919 114,933 87,850 23,050,377 23,506,765 17,247,211 15,632,812 13,872,202 2,647,322 3,212,685 2,601,884 2,382,977 2,426,059 9,069,699 7,922,498 5,926,817 5,488,113 5,079,535 2,270,421 2,738,282 2,660,031 2,389,801 2,569,072 166,124 - - - - 678,516 - - - - 2,846,944 2,446,387 3,375,478 1,953,548 1,982,458 2,755,005 5,480,443 3,411,917 2,142,039 1,399,541 - 37,000 - - - - - - - - 78,146 - - - - 20,512,177 21,837,295 17,976,127 14,356,478 13,456,665 2,538,200 1,669,470 (728,916) 1,276,334 415,537 - - - - - - - - - - - - - - - 416,945 924,641 1,270,977 343,787 517,123 (416,945) (924,641) (1,270,977) (343,787) (517,123) - 1,525,470 - - - - - - - - - - - - - - 1,525,470 - - - 2,538,200 3,194,940 (728,916) 1,276,334 415,537 7,256,164 4,061,224 4,790,140 3,513,806 2,591,411 - - - - 506,858 7,256,164 4,061,224 4,790,140 3,513,806 3,098,269 9,794,364$ 7,256,164 $ 4,061,224 $ 4,790,140 $ 3,513,806 $

0.00% 0.00% 0.00% 0.00% 0.00%
Fiscal Year

215

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216
City of Wildomar

Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years

-108-
Less Total Taxable Total
Fiscal Residential Commercial Other Tax-Exempt Assessed Direct year Property Property Property Property Value Rate
2025 4,178,208,451$ 307,217,531 $ 520,461,989 $ 151,030,424 $ 4,950,683,395 $ 0.06414% 2024 3,885,132,368 274,843,634 487,328,866 (159,960,098) 4,576,313,356 0.06414 2023 3,613,639,008 269,448,817 355,422,558 (152,084,250) 4,187,621,652 0.06414 2022 3,353,379,918 238,817,009 372,949,652 (143,634,639) 3,914,676,493 0.06414 2021 3,194,123,965 206,450,586 365,302,589 (141,156,996) 3,712,810,278 0.06414 2020 2,998,915,691 367,930,286 266,202,102 (135,401,055) 3,555,294,341 0.06414 2019 2,869,319,248 366,065,458 207,467,159 (133,658,124) 3,368,179,579 0.06414 2018 2,672,591,727 348,827,091 205,071,044 (128,090,594) 3,152,766,645 0.06413 2017 2,457,768,510 206,868,526 333,066,581 (6,827,758) 2,990,875,859 0.06642 2016 2,315,546,269 195,912,842 315,827,261 (6,723,956) 2,820,562,416 0.06665 Source: MuniServices
In 1978, California voters passed Proposition 13 which set the property tax rate at 1.00% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only re-assessed at the purchase price of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.

The Ci ty of Wi l domar was i ncorporated i n Jul y 2008, therefore data avai l abi l i ty i s l i mi ted. Changes i n assessed val ue distribution is due to a change in source. Other property includes state unitary in the amount of $129,600.

217
City of Wildomar

Direct and Overlapping Property Tax Rates
(Rate per $100 of Taxable Value)
Last Ten Fiscal Years

-109-
2025 2024 2023 2022 2021

0.05800 0.05800 0.05800 0.05800 0.05800

1.00000 1.00000 1.00000 1.00000 1.00000

0.06414 0.06414 0.06414 0.06414 0.06414

0.93586 0.93586 0.93586 0.93586 0.93586

1.00000 1.00000 1.00000 1.00000 1.00000 Override Assessments

0.050800 0.060630 0.06201 0.06319 0.06111

0.007000 0.003500 0.00350 0.00350 0.00350

0.002680 0.013200 0.01320 0.01320 0.01320 Perris Union High School 0.068500 0.081730 0.08859 0.08859 0.08569

0.12898 0.15906 0.16730 0.16848 0.16350

1.12898 1.15906 1.16730 1.16848 1.16350 Source: MuniServices
Basic Levy*
Menifee School Debt Svc
Metropolitan Water Dist. Original Area
Mt. San Jacinto Jr College
Total Direct Rate
City's Share of 1% Levy Per Prop 13
Total Overriding Assessments
City of Wildomar
A ll ot he rs
Total Direct & Overlapping Tax Rates
* In 1978, California voters passed Proposition 13 which set the property tax rate at 1.00% fixed amount. This 1.00% is shared between all taxing agencies in which the subject property resides within. In addition to the 1.00% fixed amount, property owner s are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds.

Overlapping rates are those of local and county governments that apply to property owners within the City. Not all overlapping rates apply to all City property owners.

Agency
Fiscal Year

218

-110-
2020 2019 2018 2017 2016

0.05800 0.05800 0.05800 0.05800 0.05800

1.00000 1.00000 1.00000 1.00000 1.00000

0.06414 0.06414 0.06414 0.06414 0.06414

0.93586 0.93586 0.93586 0.93586 0.93586

1.00000 1.00000 1.00000 1.00000 1.00000

0.06277 0.06303 0.06080 0.03269 0.03010

0.00350 0.00350 0.00350 0.00350 0.00350

0.08244 0.05243 0.05675 0.06092 0.06236

0.01320 0.01320 0.01320 0.01320 0.01394

0.16191 0.13216 0.13425 0.11031 0.10990

1.16191 1.13216 1.13425 1.11031 1.10990 Fiscal Year
219
City of Wildomar

Principal Property Tax Payers
Current and Nine Years Ago

-111-
Taxpayer Taxable Value ($)
Percent of Total City
Taxable Value (% ) Taxable Value ($)
Percent of Total
City Taxable
Value (% )
Universal Health Services Of Rancho Springs In c 112,577,512$ 2.27% 67,914,187 $ 2.43% Oak Springs Partners 89,528,895 1.81%
MG Santa Rosa Apartments 84,795,061 1.71%
V illa Sie na Prop 42, 986,544 0.87%
Life Storage 38,982,500 0.79%
GSC Smith Ranch 36,582,550 0.74%
LG Oak Creek 32,520,656 0.66% 30,000,000 1.07% Kaiser Foundation Health Plan Inc 28, 524,594 0.58% Wildomar Industrial Park 24, 896,355 0.50% 11,064,873 0.40% CK HS Partners 18 23,732,383 0.48%
Krupalu 19,101,744 0.39%
MCW RC CA Bear Creek Village Center 17,505,293 0.35% 14,692,418 0.53% George Clinton Keith Dev 16,484,516 0.33%
Rainbow Mountain 15,082,035 0.30%
Beazer Homes Holdings Corp 14,679,836 0.30% 11,666,338 0.42% Wildomar Senior Community 14,294,850 0.29% CFT NV Dev 14,194,401 0.29%
VSHS 12,375,145 0.25% 9,403,227 0.34% Wildomar Senior Apartments 12,033,400 0.24% CSP 30121 Antelope Road 10,990,068 0.22%
Wal-Mart Real Estate Business Trust 9,612,958 0.19% 8,158,453 0.29% OSR2 R&V Inv 9,545,000 0.19%
Ambient Pacific Occ 9,357,755 0.19%
ACI Real Estate Spe 143 9,229,626 0.19%
Wang Margaret Dream Trust Dtd 7/24/12 8,739,360 0.18% 0.00% Oak Springs Ranch 76,655,238 2.75%
WNRA Wildomar 55,840,000 2.00%
Inland Valley Medical Partners 14,554,484 0.52% Strata Oak 14,413,630 0.52%
Stonebridge Medical Center 13,301,275 0.48% CK Self Storage 8,927,234 0.32%
ABS CA O 7,833,110 0.28%
Spring Meadow Ranch 7,172,254 0.26%
Baxter Central Ltd. Partnership 6,903,733 0.25% Prichard Ronald D Dennis W 6,830,000 0.24% Yim Sung T Hwa Soon 6,600,000 0.24%
Wildomar Re naissance Plaza 5,777,854 0.21% RS Wildomar 5,434,533 0.19%
Beaumont Gossett 4,696,845 0.17%
Lennar Homes Of Calif Inc. 4,445,412 0.16% He rwood Building Supplie s 4,335,373 0.16% Bear Creek Plaza Ltd. 4,033,204 0.14%
Wildomar Springs 3,876,100 0.14%
Total Top 25 Taxpayers 708,353,037 14.31% 404,529,775 14.51% Total Taxable Value 4,576,313,356 100.00% 2,609,896,984 100.00% Total Taxable Value includes state unitary of $129,600
Wildomar was incorporated in July 2008, therefore data availability is limited 2024-25 2015-16
Source: Riverside County Assessor data, MuniServices, LLC

220
City of Wildomar

Property Tax Levies and Collections
Last Ten Fiscal Years

-112-

Total Tax Collection in
Fiscal Levy for Percentage of Subsequent Percentage of
Year Fiscal Year Amount Levy Years Amount Levy
2025 5,959,483$ 5,716,668 $ 95.93% 150,045 $ 5,866,713 $ 98.44% 2024 5,317,636 5,032,288 94.63% 189,447 5,221,735 98.20% 2023 5,088,718 4,951,886 97.31% 157,886 5,109,772 100.41% 2022 4,832,419 4,672,630 96.69% 170,904 4,843,534 100.23% 2021 4,688,098 4,583,900 97.78% 149,400 4,733,300 100.96% 2020 4,503,962 4,484,048 99.56% - 4,484,048 99.56% 2019 4,234,361 4,113,696 97.15% 121,773 4,235,469 100.03% 2018 3,973,916 3,848,479 96.84% 122,634 3,971,113 99.93% 2017 3,825,844 3,732,682 97.56% 75,891 3,808,573 99.55% 2016 3,625,979 3,515,561 96.95% 107,546 3,623,107 99.92% Source: County of Riverside, City Finance Department
Total Collections to Date
Collected within the
Fiscal Year of the Levy

221
City of Wildomar

Ratios of Outstanding Debt by Type
Last Ten Fiscal Years

-113-
Total % of Actual
Fiscal Lease Subscription Loan Governmental Assessed Value Per Year Payable Liability Payable Activities of Property (1) Capita 2025 63,704$ 367,820 $ 1,112,517 $ 1,544,041 $ 0.00% 37.30 $ 2024 117,161 478,907 1,207,361 1,803,429 0.00% 33.72 2023 881,711 55,903 1,297,467 2,235,081 0.00% 56.52 2022 1,050,066 - 1,383,073 2,433,139 0.00% 66.42 2021 - - 1,464,403 1,464,403 0.00% 39.56 2020 - - 1,541,671 1,541,671 0.00% 41.46 2019 - - 1,525,470 1,525,470 0.00% 42.30 2018 - - - - 0.00% - 2017 - - - - 0.00% - 2016 - - - - 0.00% - Source: City Finance Department
(1) As ses sed val ue us ed because actual val ue of taxabl e property not readi l y avai l abl e i n the state of Cal i forni a.

222
City of Wildomar

Direct and Overlapping Governmental Activities Debt
As of June 30, 2025

-114-
Metropolitan Water District
Mount San Jacinto Community College District General Funds Obligations Perris Union High School District
Menifee Union School District
Lake Elsinore Unified School District
Lake Elsinore Unified School District Community Facilities District No. 99-1 Lake Elsinore Unified School District Community Facilities District No. 2002-1 Lake Elsinore Unified School District Community Facilities District No. 2003-1 A Lake Elsinore Unified School District Community Facilities District No. 2004-1, 2 ,3 & 4 Lake Elsinore Unified School District Community Facilities District No. 2005-3, 5 & 7 Lake Elsinore Unified School District Community Facilities District No. 2006-3A & 4 Lake Elsinore Unified School District Community Facilities District No. 2007-2 Lake Elsinore Unified School District Community Facilities District No. 2013-1 & 2 Lake Elsinore Unified School District Community Facilities District No. 2017-2 Perris Union High School District Community Facilities District No. 92-1 City of Wildomar Community Facilities District No. 2022-2 City of Wildomar Community Facilities District No. 2022-3 Elsinore Valley Municipal Water District Community Facilities Districts OVERLAPPING TAX INCREMENT DEBT (S uccessor Agency):
(2)

2.38%

0.03%

3.02%

2.70%
AB:($500)

3.563%
100%
5,530,000
$17,155,000
8,739,000
Riverside County General Funds Obligation
Riverside County Pension Obligations
Perris Union High School District General Fund Obligation Menifee Union School District Certificates of Participation Western Municipal Water District Certificates of Participation 39,720,566
48,185,565
603,055,000
1,134,209,783$
1,377,594

0.327%

1.211%

1.174%

1.174%

0.202%
4,729,000 100%
100%

26.339%
20,929$
Incremental Valuation
Adjusted Assessed Valuation
11,690,000
13,070,000
29,055,000
7,490,000
2,865,000
184,411,292
2,834,000
2,663,000
17,806,000
2,702,113
284,456,372
91,520,000
6,895,000
237,330,000

0.122%
100%

44.393%
100.000%
100%
100%
20,649,97
4$
Total Overlapping Tax and Assessment Debt
Total Overlapping General Fund Debt
7,079,866
7,490,000
13,070,000
80,236
157,567
Source: California Municipal Statistics
$150,200,235Combined Total Debt
$1,544,041
148,656,194$
Ratios to 2024-25 Assessed Valuation:

Ratios to Redevelopment Successor Agency Incremental Valuation ($350,782,228):

Combined Total Debt…………………………………………………………………………………………………………… Total Overlapping Tax Increment Debt ……………………………………………………………………………………… Direct Debt ($0) ………………………………………………………………………………………………………………………… (1) Percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentag es were estimated by determining

0.327%

0.250%
4,729,000
13,315,623$
72,638
16,972,109
2,834,000
Share of
Debt to City (1) DebtOverlapping Tax and Assessment Debt Applicable
2024-2025 Assessed Valuation 4,980,572,221$
-
4,980,572,221$
Percent City's
Total
1,182,186
2,702,113
8,739,000
11,690,000
8,456,068
6,895,000
9,475,096$
the portion of the overlapping districts assessed value that is within the boundaries of the city divided by the district's tot al taxable asse ssed value. (2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations. Qu alifie d Zone A cade my Bonds are 16,683
574,602
5,530,000
118,531,122$
Overlapping General Fund Debt
2,865,000
24,105,453
603,025
100.000%
100%

0.202%

56.111-100%
100%
included based on principal due at maturity.

Overlapping Tax and Assessment Debt ……………………………………………………………………………………… City Of Wildomar $1,544,041100%$1,544,041
Direct Debt
Total Direct Debt
Total Overlapping Debt
169,820,000$ 1.841-17.977%

223
City of Wildomar

Legal Debt Margin Information
(dollars in thousands)
Last Ten Fiscal Years

-115-
2025 2024 2023 2022 2021
Assessed Valuation 4,950,683,395 $ 4,576,313,356 $ 4,187,621,652 $ 3,914,676,493 $ 3,712,810,278 $ Debt Limit Percentage 15% 15% 15% 15% 15%
Debt Limit 742,602,509 $ 686,447,003 $ 628,143,248 $ 587,201,474 $ 556,921,542 $ Total Net Debt Applicable to Limi t
General Obligation Bonds: - - - - - Legal Debt Margin 742,602,509 $ 686,447,003 $ 628,143,248 $ 587,201,474 $ 556,921,542 $ Total Net Debt Applicable to the Limit
as a Percentage of Debt Limit 0.00% 0.00% 0.00% 0.00% 0.00% Source: City Finance Department, MuniServices
Fiscal Year
Section 43605 of The Government Code of the State of California limits the amount of indebtedness for public improvements to 15 % of the assessed valuation of all real and personal property of the City.

The City of Wildomar has no general obligation bond indebtedness.

224

-116-
2020 2019 2018 2017 2016
3,555,294,341$ 3,368,179,579 $ 3,152,766,645 $ 2,990,875,859 $ 2,820,562,416 $ 15% 15% 15% 15% 15%
533,294,151$ 505,226,937 $ 472,914,997 $ 448,631,379 $ 423,084,362 $ - - - - - 533,294,151$ 505,226,937 $ 472,914,997 $ 448,631,379 $ 423,084,362 $

0.00% 0.00% 0.00% 0.00% 0.00%
Fiscal Year

225
City of Wildomar

Demographic and Economic Statistics
Last Ten Fiscal Years

-117-
Fiscal Year
Population
(1)
Personal Income
(In Thousands)
(2)
Per Capita
Personal
Income (2)
City
Unemployment
Rate (%) (3)
Median Age
(4)
%High
School
Diploma
% Bachelors
Degree
2024-25 37,077 1,637,743$ 44,171 $ 5.0% 35 85% 18% 2023-24 36,327 1,488,254 40,968 4.5% 36 85% 18% 2022-23 36,336 1,330,572 36,619 4.2% 36 85% 17% 2021-22 36,632 1,150,045 31,395 3.1% 35 84% 16% 2020-21 37,013 1,011,653 27,332 6.9% 34 85% 17% 2019-20 37,183 941,562 25,322 14.1% 35 85% 17% 2018-19 36,066 878,083 24,347 3.3% 35 85% 17% 2017-18 36,287 837,603 23,083 3.9% 35 83% 17% 2016-17 35,782 776,541 21,702 6.1% 34 84% 16% 2015-16 35,168 812,908 23,115 6.8% 34 88% 14% Wildom ar was incorporat e d in July 2008, the re fore dat a availabilit y is lim ite d The California Department of Finance demographics estimates now incorporate 2010 Census counts as the benchmark.

2.) Income Data is provided by the U.S. Census Bureau, 2010 American Community Survey.

3.) Unemployment Data is provided by the EDD's Bureau of Labor Statistics Department.

4.) Medi an Age refl ects the U.S. Census data esti mati on table.

Source: MuniServices, LLC, / Avenu Insights & Analytics

1.) Population Projections are provided by the California Department of Finance Projections.

226
City of Wildomar

Principal Employers
Current and Nine Years Ago

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2015-16
Business Name
Number of
Employees
Percent of Total
Employment (%) Number of Employees
Lake Elsinore Unified School District* 2,385 13.95% 2,429 Southwest Healthcare Inland Valley Medical Center 989 5.78% 780 Sout he rn California Edison 299 1.75% - Kai ser Permanente Wi l domar Medi cal Offi ces 167 0.98% - Cornerstone Community Church & School 153 0.89% - Stater Bros Markets 115 0.67% 99 Albertson's 106 0.62% 85 Wildomar Senior Assisted Living, LLC 84 0.49% 90 A nimal Frie nds of t he V alle ys 83 0.49% - Sycamore Academy of Science and Cultural Arts 64 0.37% - FCP Inc. 67
Coldwell Banker 75
Jack in the Box - (2 locations) 70
McDonald's 40
P K Mechanical Systems 20
Total Top 10 Employers 4,445 25.99% 3,735

Total City Labor Force (1) 17,100 16700
Source: MuniServices, LLC / Avenu Insights & Analytics Source: 2012-13, previously published ACFR, limited data available Results based on direct correspondence with city’s local businesses. * Count is districtwide
** Count includes another location, not within the City Limits. *** Incl udes the Cornerstone Chri sti an School
(1) Total City Labor Force provided by EDD Labor Force Data. 2024-25
No longer in the top 10

227
City of Wildomar

Full-Time Equivalent City Governmental Employees by Function/Program As of June 30, 2025

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2025 2024 2023 2022 2021

1.0 1.0 1.0 1.0 1.0

2.0 2.0 1.0 2.0 1.0 - - - - 3.0

1.0 1.0 2.0 2.0 - - - - - 1.0

1.0 1.0 1.0 1.0

5.0 4.0 3.0 3.0 2.0 - - 5.0 5.0 3.0

2.0 1.0 2.0 2.0 -

1.0 1.0 - - -

1.0 1.0 - - -

6.0 7.0 - - -

1.0 1.0 1.0 1.0 -

2.0 4.0 1.0 1.0 -

7.0 4.0 5.0 5.0 4.0

4.0 4.0 4.0 4.0 -

6.0 4.0 - - -

1.0 1.0 - - - Admi ni s trati ve Servi ces
Full- Time Equiv
Public Works Director
Full- Time Equiv
Community Services
Full- Time Equiv
Full- Time Equiv
City Manager Administration
Full- Time Equiv
Community Services Director
Full- Time Equiv
Building/Safe ty
Full- Time Equiv
Full- Time Equiv
Ass t. Ci ty Manager
Full- Time Equiv
Economic Development
Community Development Director
Full- Time Equiv
Cemetery
Full- Time Equiv
Code Enforcement
Full- Time Equiv
Planning
Administrative Services Director
Full- Time Equiv
Public Works
Full- Time Equiv
Finance
Full- Time Equiv
De ve lopme nt Engine e ring
Full- Time Equiv
Planning Director
Function
City Manager
Full- Time Equiv
City Clerk
Full- Time Equiv

228

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2020 2019 2018 2017 2016

1.0 1.0 1.0 1.0 1.0

1.0 1.0 1.0 1.0 1.0

3.0 3.0 2.0 2.0 2.0 - - - - -

1.0 1.0 1.0 1.0 1.0

1.0 1.0 1.0 1.0 1.0 - - - - 1.0

3.0 3.0 2.0 3.0 2.0 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

3.0 3.0 3.0 2.0 1.0 - - - - - - - - - - - - - - -

229
City of Wildomar

Operating Indicators by Function/Program
Last Ten Fiscal Years

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2025 2024 2023 2022 2021
13,990 14,568 12,452 # 18,027 18,218
53 133 37 73 87
1,835 1,590 1,107 1,245 1,830
4,204 3,712 3,068 3,534 3,307

5.0 5.2 5.4 5.4 5.2
7880.00% 77.00% 79.50% 78.50% 76.32%
2120.00% 23.00% 20.50% 21.50% 23.67%
1,161 1,357 1,460 1,161 1,192
Zoning Inquiries/ Counter Assistance 3,522 3,276 3,452 3,327 3,000 Developer Applications/ Projects 18 26 21 65 25
Building Plan Check Permits 374 457 421 414 1,000
Planning Director Hearings 0 1 0 0 0
Planning Commission Meetings 11 9 9 10 9
27 35 49 61 45
Source: City Finance Department, City Community Development Department, City Building Department, Riverside County Sheriff's Department, Riverside County Fire/CAL-Fire, Cemetery (1) Information not available at time of publication.

N/A = Not available.
% of Calls - All Other
Cemetery
Burial Services
Fire Services
Community Development/ Planning
Re sponse s t o Calls for Se rvice
Average Response Ti me-Mi nutes
% of Calls - Medical
Building & Safe ty
Building Permits Issued
Function
Pol i ce Services
Calls for Service
DUI Arrests
Traffic Citations

230

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2020 2019 2018 2017 2016
19,898 16,576 17,628 17,374 15,916
44 34 44 32 38
485 N/A 573 334 246
3,252 3,102 3,266 3,173 3,075

5.1 5.1 5.2 4.7 4.7

74.26% 75.94% 76.00% 75.26% 77.66%

25.74% 24.06% 24.00% 24.74% 22.34%
981 1,104 1,158 1,235 1,685
2,925 3,020 4,656 4,400 4,300
30 45 71 43 40
1,052 1,560 1,674 1,650 1,650
23 1 3 2
13 9 16 7 10
41 21 35 12 25

231
City of Wildomar

Capital Asset Statistics by Function/Program
Last Ten Fiscal Years

-123-
2025 2024 2023 2022 2021
127.51 126.15 126.15 124.9 123.36

11.67 11.67 11.67 11.4 9.1

5.84 5.84 5.84 5.84 3.87

45.87 46.05 46.05 46.05 47.1

27.3 27.3 27.3 24.3 24.3
66655

61.85 61.85 61.85 41.85 41.85
11111
Source: City Public Works Department, Community Services Department Function
Public Works
Streets (mi l es )
Park Acreage
Cemetery
Traffic Signals
Unpaved - Private
Paved - Private
Paved - Public
Unpaved - Public
Community Services
Parks

232

-124-
2020 2019 2018 2017 2016
123.36 123.36 123.36 119 119

9.1 9.1 9.1 9.1 9.1

3.87 3.87 3.87 3.4 3.4

47.1 47.1 47.1 47.1 47.1

24.3 24.3 24.3 23.3 23.3
44433

14.85 14.85 14.85 14.4 14.4
11111

233
City of Wildomar

Miscellaneous Statistics
As of June 30, 2025

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24 4
1 1
Source: City Finance Department and California Department of Finance El ementary
Middle Schools
High Schools
Schools:

Wi ldomar i s located along Interstate 15 i n Riversi de County. 37,077
Council-Manager
July 1, 2008
Area in Square Miles
Form of Government
Police Department
Date of Incorporation
Geographic Location
Population
6 Parks owned by the City
41 Under contract with the Riverside County Sheriff's Department Under contract with the Riverside County Fire Department ( Cal-Fire) 1 Branch, Ri verside County Library System
Fire Department
Li brary
Recreation:

Number of Ful l Ti me Empl oyees
Public Safety:

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CERTIFIED PUBLIC ACCOUNTANTS

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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

Independent Auditor’s Report

To the Honorable City Council
City of Wildomar, California

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards), the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Wildomar (the entity), as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the entity’s basic financial statements, and have issued our report thereon dated March 17 2026.

Report on Internal Control over Financial Reporting

In planning and performing our audit of the financial statements, we considered the entity’s internal control over financial reporting (internal control) as a basis for designing procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we do not express an opinion on the effectiveness of the entity’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses.

However, material weaknesses or significant deficiencies may exist that were not identified.

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Report on Compliance and Other Matters

As part of obtaining reasonable assurance about whether the entity’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

We noted certain matters that we have reported to management of the entity in a separate letter dated March 17, 2026.

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

San Bernardino, California
March 17, 2026

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CERTIFIED PUBLIC ACCOUNTANTS

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March 17, 2026

To the Honorable City Council
City of Wildomar, California

We have audited the financial statements of the City of Wildomar (the entity) as of and for the year ended June 30, 2025, and have issued our report thereon dated March 17, 2026. Professional standards require that we advise you of the following matters relating to our audit.

Our Responsibility in Relation to the Financial Statement Audit

As communicated in our engagement letter dated April 8, 2025, our responsibility, as described by professional standards, is to form and express opinions about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America. Our audit of the financial statements does not relieve you or management of your respective responsibilities.

Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about w hether the financial statements are free of material misstatement. An audit of financial statements includes consideration of the system of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control over financial reporting. Accordingly, as part of our audit, we considered the system of internal control of the entity solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control.

We are also responsible for communicating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilit ies in overseeing the financial reporting process.

However, we are not required to design procedures for the purpose of identifying other matters to communicate to you.

Planned Scope and Timing of the Audit

We conducted our audit consistent with the planned scope and timing we previously communicated to you.

Compliance with All Ethics Requirements Regarding Independence

The engagement team, others in our firm, as appropriate, and our firm have complied with all relevant ethical requirements regarding independence.

We have evaluated whether certain nonattest services performed by our firm during the audit have created a significant threat to our independence in relation to the entity. We have i dentified a threat to our independence (preparation of the entity’s financial statements, creating a self-review threat) that if not reduced to an acceptable level, would impair our i ndependence. In order to reduce the threat to an acceptable level, we have applied the following safeguard:

Prior to the issuance of the entity’s financial statements, another partner or manager, independent of the engagement, will review the financial statements. 239

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Significant Risks Identified

We have identified the possibility of the following significant risks:

Management's override of internal c ontrols over financial reporting – Management override of internal controls is the intervention by management in handling financial information and making decisions contrary to internal control policy.

Revenue recognition – Revenue recognition is a generally accepted accounting principle that refers to the conditions under which an entity can recognize a transaction as revenue. Auditing standards indicate that recognizing revenue is a presumed fr aud risk and usually classified as a significant risk in most audits.

These significant risks are presumptive in most audits and merit attention by the auditors due to the direct impact over financial reporting and internal control processes. Although identified as significant risks, we noted no matters of management override of controls or deviations from generally accepted accounting principles which caused us to modify our audit procedures or any related matters which are required to be communicated to those charged with governance due to these identified risks.

Qualitative Aspects of the Entity’s Significant Accounting Practices

Significant Accounting Policies

Management has the responsibility to select and use appropriate accounting policies. A summary of the significant accounting policies adopted by the entity is included in Note 1 to the financial statements. The City adopted GASB Statement No. 101, Compensated Absence, and GASB Statement No. 102, Certain Risk Disclosures during 2025. No matters have come to our attention that would require us, under professional standards, to inform you about (1) t he methods used to account for significant unusual transactions and (2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus.

Significant Accounting Estimates and Related Disclosures

Accounting estimates and related disclosures are an integral part of the financial statements prepared by management and are based on management’s current judgments. Those judgments are normally based on knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ markedly from management’s current judgments.

The most sensitive accounting estimates affecting the entity’s financial statements are:

Management’s estimate of the net pension liab ility and related deferred inflows and outflows of resources are based on actuarial reports by independent actuaries. We evaluated the key factors and assumptions used to develop the estimate in determining that it is reasonable in relation to the basic financial statements taken as a whole and in relation to the applicable opinion units.

Management’s estimate of the liability for ot her post-employment benef its (OPEB) and related deferred inflows and outflows of resources are based on actuarial reports provided by independent actuaries. We evaluated the key factors and assumptions used to develop the estimate in determining that it is reasonable in relation to the basic financial statements taken as a whole and in relation to the applicable opinion units.

240

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Financial Statement Disclosures

Certain financial statement disclosures involve significant judgment and are particularly sensitive because of their significance to financial statement users.

The most sensitive disclosures affecting the entity’s financial statements relate to:

The disclosure of net pension liability and related deferred inflows and outflows of resources in the basic financial statements is based on actuarial assumptions. Actual future liabilities and actuarial deferred inflows and outflows may vary from disclosed estimates.

The disclosures of the other post-employment benefits (OPEB) liability and related deferred inflows and outflows of resources in the basic financial statements is based on actuarial assumptions.

Actual future liabilities and actuarial deferred inflows and outflows may vary from disclosed estimates.

Significant Difficulties Encountered during the Audit

We encountered no significant difficulties in dealing wi th management relating to the performance of the audit.

Uncorrected and Corrected Misstatements

For purposes of this communication, professional standards require us to accumulate all known and likely misstatements identified during the aud it, other than those that we belie ve are trivial, and communicate them to the appropriate level of management. Furthe r, professional standards require us to also communicate the effect of uncorrect ed misstatements related to prior periods on the relevant classes of transactions, account balances or disclosures, and the financial statements as a whole and each applicable opinion unit. The attached schedule summarizes uncorrect ed financial statement misstatements whose effects in the current and prior periods, as determi ned by management, are immaterial, both individually and in the aggregate, to the financial statements taken as a whole. Uncorrected misstatements or matters underlying those uncorrected misstatements could pot entially cause future-period financial statements to be materially misstated, even t hough the uncorrected misstatements ar e immaterial to the financial statements currently under audit.

In addition, professional standards require us to communicate to you all material, corrected misstatements that were brought to the attention of m anagement as a result of our audit procedures.

None of the
misstatements identified by us as a result of our audit procedures and corrected by management were material, either individually or in the aggregate, to the financial statements taken as a whole or applicable opinion unit.

Disagreements with Management

For purposes of this letter, professional standards define a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing matter, which could be significant to the entity’s financial statements or the auditor’s report. No such disagreements arose during the course of the audit.

Representations Requested from Management

We have requested certain written representations from management, which are included in the attached letter dated March 17, 2026.

241

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Management’s Consultations with Other Accountants

In some cases, management may decide to consult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing and accounting matters.

Other Significant Matters, Findings, or Issues

In the normal course of our professional associatio n with the entity, we generally discuss a variety of matters, including the application of accounting prin ciples and auditing standards, significant events or transactions that occurred during the year, operati ng and regulatory conditions affecting the entity, and operational plans and strategies that may affect the risks of material misstatement. None of the matters discussed resulted in a condition to our retention as the entity’s auditors.

Other Information Included in Annual Reports

Pursuant to professional standards, our responsibility as auditors for other information, whether financial or nonfinancial, included in the entity’s annual reports, does not extend beyond the information identified in the audit report, and we are not required to perform any procedures to corroborate such other information.

However, in accordance with such standards, we have:

Read the transmittal letter and statistical section and considered whether a material inconsistency existed between the other the information and t he basic financial statements, or the other information otherwise appears to be materially misstated. Our opinion(s) on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.

Our responsibility also includes communicating to you any information which we believe is a material misstatement of fact. Nothing came to our attention that caused us to believe that such information, or its manner of presentation, is materially inconsistent wi th the information, or m anner of its presentation, appearing in the financial statements.

This report is intended solely for the information and use of the City Council and management of the entity and is not intended to be and should not be used by anyone other than these specified parties.

Very truly yours,

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243
244
245
246
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CERTIFIED PUBLIC ACCOUNTANTS

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March 17, 2026

To the Management of City of Wildomar
Wildomar, California

In planning and performing our audit of the financial statements of the City of Wildomar (the entity) as of and for the year ended June 30, 2025, in accordance with auditing standards generally accepted in the United States of America, we considered the entity’s internal control over financial reporting (internal control) as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we do not express an opinion on the effectiveness of the entity’s internal control.

Our consideration of internal control was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in internal control that might be significant deficiencies or material weaknesses and therefore, there can be no assurance that all deficiencies, significant deficiencies, or material weaknesses have been identified. We did not identify any deficiencies in internal control that we consider to be material weaknesses. However, as discussed below, we identified certain matters involving the internal control and other operational matters that are presented for your consideration. This letter does not affect our report dated March 17, 2026 on the financial statements of the entity. We will review the status of these comments during our next audit engagement. Our comments and recommendations, all of which have been discussed with appropriate members of management, are intended to improve the internal control or result in other operating efficiencies. Our comments are summarized as follows:

Observation 1:

During our audit of the City, we noted that bank reconciliations for various accounts were not being prepared, or reviewed, in a timely manner.

Recommendation 1:

Even though the bank reconciliations were prepared, some were done beyond 60 days of month- end. Errors in the bank reconciliations can go undetected for a period of time without the appropriate review and approval procedures. We recommend that the City ensure that all bank reconciliations are reviewed in a timely manner and documentation of when the preparation and review are completed.

248
Management of City of Wildomar
Wildomar, California

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Management Response 1:

In September 2024, the City implemented a ne w financial system. There were delays with the data migration into the new system, which led to the imported balances not being reconciled until February 2025. The City also added a new accountant in June 2025 to the Finance department to help with reconciliations. The City was able to become current with reconciliations by June 2025 and remains current as of February 2026.

Observation 2:

During our audit, we noted two contracts that were executed without obtaining the required quotes as outlined in the City’s purchasing policy. Additionally, the documentation supporting a sole‑source exemption was completed only after the agreements had already been fully executed.

Recommendation 2:

We recommend that the City prepare and approve sole‑source justification documentation before entering into and executing agreements. This will help ensure full compliance with the City’s purchasing policy and strengthen internal controls over procurement.

Management Response 2:

In November 2024, the City adopted a new purchasing ordinance and policies surrounding procurement. The City is refining its processes to ensure that it will remain compliant with the purchasing policy. Staff are now checking at multiple stages that procurement protocols are being followed to ensure that proper documentation is obtained going forward.

We believe that the implementation of these recommendations will provide the entity with a stronger system of internal control while also making its operations more efficient. We will be happy to discuss the details of these recommendations with you at your convenience.

This communication is intended solely for the information and use of management, and others within the entity, and is not intended to be and should not be used by anyone other than these specified parties.

Very truly yours,

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CERTIFIED PUBLIC ACCOUNTANTS

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Independent Accountant’s Report

To the Honorable City Council
City of Wildomar, California

We have performed the procedures enumerated below to the accompanying Appropriations Limit Worksheet of the City of Wildomar, California (the City) for the year ended June 30, 2025.

The management of the City is responsible for the accompanying Appropriations Limit Worksheet.

The City has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of meeting the requirements of Section 1.5 of Article XIII-B of the California Constitution. These procedures, which were suggested by the League of California Cities and presented in the publication entitled Agreed-upon Procedures Applied to the Appropriations Limitation Prescribed by Article XIII-B of the California Constitution, were performed solely to assist you in meeting the requirements. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes.

The procedures and the associated findings are as follows:

1. We obtained the completed worksheets and compared the limit and annual adjustment factors included in those worksheets to the limit and annual adjustment factors that were adopted by resolution of the City Council. We also compared the population and inflation options included in the aforementioned documents to those that were selected by a recorded vote of the City Council.

Finding: No exceptions were noted as a result of our procedures.

2. For the accompanying Appropriations Limit Worksheet, we added last year’s limit to total adjustments and agreed the resulting amount to this year’s limit.

Finding: No exceptions were noted as a result of our procedures.

3. We agreed the current year information presented in the accompanying Appropriations Limit Worksheet to the other documents referenced in number one above.

Finding: No exceptions were noted as a result of our procedures.

250

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4. We agreed the prior year appropriations limit presented in the accompanying Appropriations Limit Worksheet to the prior year appropriations limit adopted by the City Council during the prior year.

Finding: No exceptions were noted as a result of our procedures.

We were engaged by the City to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on accompanying Appropriations Limit Worksheet for the year ended June 30, 2025. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

This report is intended solely for the information and use of the City Council and management of the City of Wildomar, California, and is not intended to be and should not be used by anyone other than these specified parties. However, this report is a matter of public record and its distribution is not limited.

San Bernardino, California
March 17, 2026
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City of Wildomar

APPROPRIATIONS LIMIT WORKSHEET

2024 – 2025
Per Capita Personal Income Change 3.62%
Population Change
City Population Growth 0.65%
CPI Change Converted to a Ratio 1.0362
Population Change Converted to a Ratio 1.0065
Calculation of Growth Factor 1.0429
2023 – 2024 Limit $19,489,101
2024 – 2025 Appropriations Limit
($19,489,101 x 1.0429) $20,325,871 *
* allow for rounding

252

WILDOMAR CEMETERY DISTRICT

A COMPONENT UNIT

OF THE CITY OF WILDOMAR

FINANCIAL STATEMENTS

For the year ended June 30, 2025

Prepared By:

The City of Wildomar
Finance Department
253
Wildomar Cemetery District

Financial Statements
June 30, 2025

TABLE OF CONTENTS

Page

Independent Auditor’s Report ................................................................................................... 1

Management’s Discussion and Analysis ................................................................................. 4

Basic Financial Statements:

Government-wide Financial Statements
Statement of Net Position .............................................................................................. 11 Statement of Activities .................................................................................................... 12

Fund Financial Statements
Balance Sheet – Governmental Funds .......................................................................... 13 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position ................................................................................... 14 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ........................................................................................... 15 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ........... 16 Notes to Financial Statements ....................................................................................... 17

Required Supplementary Information:

Notes to Required Supplementary Information .................................................................... 37 Budgetary Comparison Schedule – General Fund .............................................................. 38 Schedule of the District’s Proportionate Share of Net Pension Liability – CalPERS Pension Plan ................................................................................................... 39 Schedule of Contributions CalPERS Pension Plan ............................................................... 40

Supplementary Information:

Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – Capital Projects Fund ................................................................... 41 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – Endowment Fund .......................................................................... 42

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 ................................................................................... 43

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CERTIFIED PUBLIC ACCOUNTANTS

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Independent Auditor’s Report

To the Board of Directors
Wildomar Cemetery District
City of Wildomar, California

Report on the Audit of the Financial Statements

Opinions

We have audited the financial st atements of the governm ental activities and eac h major fund of the Wildomar Cemetery District (the Di strict), a component unit of the City of Wildomar, California, as of and for the year ended June 30, 20 25, and the related notes to t he financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the go vernmental activities and each major fund of the District, as of June 30, 2025, 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 (Government Auditing Standards).

Our responsibilities under those standards are further described in the Audito r’s Responsibilities for the Audit of the Financial Statem ents section of our report. We are required to be independent of District and to meet our other ethical responsibilit ies, 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.

Emphasis of Matter

As described in Note 1 to the financial statements during the year ended June 30, 2025, the District adopted new accounting guidance under Governm ental Accounting St andards Board (GASB) Statement No. 101, Compensated Absences and No. 102, Certain Risk Disclosures. Our opinions are not modified with respect to this matter.

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Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fa ir presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementati on, 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 statem ents, management is required to evaluate whether there are conditions or events, considered in the aggregate, t hat raise substantial doubt about District’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonab le assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conduct ed 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 fr om fraud is higher than for one resulting from error, as fraud may involve collusion, fo rgery, intentional omissions, misr epresentations, or the override of internal control. Misstatements are considered ma terial if there is a s ubstantial 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 res ponsive 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 circum stances, but not for the purpose of expressing an opinion on the effectiveness of t he District’s internal control. Accordingly, no such opinion is expressed.
 Evaluate the appropriateness of account ing policies used and the reasonableness of significant accounting estimates made by m anagement, as well as evaluate the overall presentation of the financial statements.
 Conclude whether, in our judgment, there ar e conditions or events, considered in the aggregate, that raise substantial doubt about District’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.

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Required Supplementary Information

Accounting principles generally a ccepted in the United States of Am erica require that the required supplementary information, such as the management’s discussion and analysis, and schedules as listed in the table of content s be presented to supplement t he basic financial statements.

Such
information is the responsibilit y of management and, although not a part of the basic financial statements, is required by the Go vernmental Accounting Standards Board who considers it to be an essential part of financial reporti ng for placing the basic financ ial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with G AAS, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited proc edures 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 form ing opinions on the financ ial statements that collectively comprise the District’s basic financial statements. The supplementary information, as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statement s. Such information is the responsibility of management and was derived from and relates directly to the underlyi ng accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statement s themselves, and other additional procedures in accordance with GAAS. In our opi nion, the accompanying s upplementary information is 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 March 11, 2026 on our consideration of District’s internal control over financial reporting and on our tests of its compliance with certain provisi ons of laws, regulations, contra cts, 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 District’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 District’s internal control over financial reporting and compliance.

San Bernardino, CA
March 11, 2026
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Wildomar Cemetery District

Management’s Discussion and Analysis
For the year ended June 30, 2025

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As management of the Wildomar Cemetery District (the District), we offer readers of the District’s financial statements this narrative overview and analys is of the financial activities of the District for the fiscal year ended June 30, 2025. We encourage the reader to consider the information presented here in conjunction with the District’s financial statements which follow this discussion.

THE FINANCIAL HIGHLIGHTS

 The assets and deferred outflows of resources of the District exceeded its liabilities and deferred inflows of resources as of June 30, 2025, by $2.2 million (net position).

 The District’s total net position decreased by $147,183. The primary reasons for the decrease are as follows:

o Assets – Capital assets are lower by $13,099 due to a depreciation and amortization.
o Current and Other Assets – Current assets decreased by a net of $87,392 due to increased expenditures resulting from frontage improvements. o Liabilities – Liabilities are higher by $36,646 due to the increase in compensated absences liability resulting form the City’s conversion to Caltime (Combined Annual Leave) which combines vacation and sick leave and is all eligible for cashout upon separation.

OVERVIEW OF THE FINANCIAL STATEMENTS

This discussion and analysis is intended to serve as an introduction to the District’s basic financial statements. These basic financial statements are comprised of three components:

1) Government-wide financial statements,
2) Fund financial statements, and
3) Notes to the financial statements.

This report also contains required supplementary in formation in addition to the basic financial statements themselves.

Government-wide financial statements

As previously discussed, government-wide financial statements detail all capital assets, including infrastructure, depreciation, and long-term debt. Specifically, these statements are designed to provide an expansive overview of the District’s finances. Given its scope and to adequately present this data in a comprehensible format, the government-wide financial statements are divided into two subcategories, the Statement of Net Position and the Statement of Activities.

These statements reasonably provide long and short- term information regarding the District’s financial condition.

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Wildomar Cemetery District

Management’s Discussion and Analysis
For the year ended June 30, 2025

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The District’s statements provide a manageable yet comprehensive view of the District’s economic position, appropriately accounting for all revenue and expenses during the specified fiscal year. To accomplish this, government-wide financial statements are reported utilizing the flow of economic resources (cost of services) measurement focus and the accrual method of accounting. Using the flow of economic resources measurement focus allows the District to provide financial transparency insofar as all assets, deferred outflows of resources, liabilities, and deferred inflows of resources are listed on the Statement of Net Position. The added use of the accrual basis of accounting allows the District a ‘real-time’ advantage as revenues are recognized when earned and expenses are recognized when incurred.

The Statement of Net Position outlines the District’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the difference reported as net position. While fluctuations are expected, over time, increases or decreases in the District’s net position could be used to gauge the District’s financial standing to ascertain whether it is improving or deteriorating.

The Statement of Activities demonstrates how the District’s net position evolves during the current fiscal year. Specifically, this statement provid es comparative analysis between direct expenses and program revenues for each functional activity of the District. In this format, net position changes are recorded in real time when triggered by underlying events without respect to the timing of the related cash flows. Because of this, it is expected that revenue and expenses for some items (such as uncollected taxes and earned but unused vacation leave) will result in recorded cash flows in future fiscal periods.

Combined, the Statements reveal functions of the District that can be divided into two categories:

1) Governmental activities, and
2) Business-type activities.

Governmental activities are chiefly supported by:

1) Taxes derived from such sources as property tax, and:
2) Charges for services and investment earnings.

Governmental activities of the District are for general government. In addition, the District does not have any business-type activities.

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 District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Specifically, these Fund Financial Statements cover segregated groupings of related accounts whose funds have been designated for specific activities or purpose. They provide a detailed accounting of revenue and expenditures, assets, deferred outflows of resources, liabilities, deferred inflows of resources, and remaining fund balances for each fund.

This helps to ensure and demonstrate finance related legal compliance. 259
Wildomar Cemetery District

Management’s Discussion and Analysis
For the year ended June 30, 2025

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Fund financial statements differ from activity report s due to the way capital outlay, depreciation, long-term debt, compensated absences, deferred revenues, and intergovernmental receivables are reported. The impact of these differences is laid out in the notes accompanying the financial statements.

Governmental funds

Governmental funds are reported in essentially the same way as governmental activities in the government-wide financial statements with an exception---governmental fund financial statements focus on near-term inflows and outflows of spendable resources and balances of spendable resources. This means governmental fund financial statements identify current sources and uses of money within the immediate fiscal year. Benefits derived include a detailed short-term view of the District’s general government operations and the basic services it provides, which assist in determining whether there are sufficient financial resources available to meet the District’s current needs.

Since the scope of the governmental funds is different than that of the government- wide financial statements, it is beneficial to comparatively examine information presented for the governmental funds with information presented for governmental activities in the government-wide financial statements.

The reader gains a clearer picture of the long-term impacts current financial decisions might yield.

When examined together, the governmental funds Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balances provide the reader with a different snapshot that identifies variances between the two different methodologies of accounting for governmental activities and governmental funds.

The District maintains three individual governmental funds. Information is summarized in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund, Capital Projects Fund, and Endowment Fund. Data from the three governmental funds are combined into a single, aggregated presentation.

The District adopts an annual appropriated budget for its general fund. A budgetary comparison statement has been provided for the general fund to demonstrate compliance with this budget.

Notes to the Basic Financial Statements

The Notes to the Basic Financial Statements 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 Table of Contents under the heading Notes to Financial Statements.

Required Supplementary Information and Supplementary Information

In addition to the basic financial statements and included within the notes, this report also presents Required Supplementary Information.
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Wildomar Cemetery District

Management’s Discussion and Analysis
For the year ended June 30, 2025

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Required supplementary information includes budgetary comparison schedules for the general fund a governmental fund to demonstrate compliance with the annual budget as adopted and amended, miscellaneous plan information and schedule of contributions. Required Supplementary Information can be found following the Notes to the Basic Financial Statements.

The budgetary comparison schedules for the Capital Projects Fund and Endowment Fund are not considered special revenue funds and therefore reported as supplementary information.

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 District, assets and deferred outflows of resources of the District exceeded its liabilities and deferred inflows of resources as of June 30, 2025, by $2.2 million (net position).

During the fiscal year ended June 30, 2025, net position was $2.2 million of which nearly $1.0 million is invested in capital assets such as land, equipment and buildings (net of capital related debt). Of the remaining total, $0.5 million is restricted for endowment care and $0.7 million is unrestricted.

Table 1 – Statement of Net Position – Governmental Activities

2025 2024
Assets:

Current and other assets 1,643,781 $ 1,731,173 $
Capital assets 982,130 995,229
Total Assets 2,625,911 2,726,402
Deferred outflows of resources:

Deferred pension-related items 71,944 89,601
Total Deferred Outflows of Resources 71,944 89,601 Liabilities:

Other Liabilities 233,617 206,356
Long-term liabilities 258,972 249,587
Total Liabilities 492,589 455,943
Deferred inflows of resources:

Deferred pension-related items 19,356 26,967
Total Deferred Inflows of Resources 19,356 26,967 Net position:

Net Investment in capital assets 970,306 979,316 Restricted 533,388 483,767
Unrestricted 682,216 870,010
Total Net Position 2,185,910$ 2,333,093 $
Wildomar Cemetery District
Statement of Net Position - Summary
June 30, 2025 and 2024
Governmental Activities

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Wildomar Cemetery District

Management’s Discussion and Analysis
For the year ended June 30, 2025

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Table 2 – Statement of Activities – Governmental Activities

2025 2024
Revenues:

Program revenues:

Charges for services 75,151 $ 105,591 $
Operating grants and contributions - 20,391 General revenues:

Property taxes 824,981 771,584
Investment earnings 90,877 79,070
Miscellaneous 3,084 -
Total Revenues 994,093 976,636
Expenses:

General government 1,141,276 905,566
Total Expenses 1,141,276 905,566
Increase (decrease) in net position (147,183) 71,070 Net position, beginning of year 2,333,093 2,262,023 Net position, end of year 2,185,910$ 2,333,093 $
Governmental Activities
Wildomar Cemetery District
Statem ent of A ctivities
For the years ended June 30, 2025 and 2024

During fiscal year 2024-25, the net position decreased by $147,183 when compared to fiscal year 2023-24. This is due to higher expenditures resulting from the CIP067-1 Frontage Improvements.

Year over year, revenues increased by $17,457. This is mostly due to higher property tax remittances, which increased by $53,397. Charges for Services decreased by $30,440 as burial activity has decreased. Investment Earnings increased by $11,807 due to continued high rates.

Expenses increased year over year by $235,710. Expenses increased due to capital project expenditures pertaining to the cemetery frontage improvements project.

Financial Analysis of Governmental Funds

As noted earlier, the District uses fund accounting to ensure and demonstrate compliance with finance–related legal requirements.

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Wildomar Cemetery District

Management’s Discussion and Analysis
For the year ended June 30, 2025

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Governmental Funds

As stated, governmental fund financial statements identify current sources and uses of money.

Benefits derived include a detailed short-term view of the District’s general government operations and the basic services it provides, which assists in determining whether there are sufficient financial resources available to meet the District’s current needs.

The financial position of the District’s governmental funds has decreased when compared to the previous fiscal year. The total ending fund balance for the District’s governmental funds was approximately $1.4 million which represented a $114,653 decrease from the prior fiscal year ending fund balance. Most of this decrease was related to capital project expenditures.

The General Fund is the primary funding source for the District. At fiscal year end, the unassigned fund balance of the general fund was about $0.9 million. The General Fund had an excess of expenditures over revenue of $136,017 in FY2024-25.

CAPITAL ASSETS

The District’s net investment in capital assets (Table 3) for its governmental activities as of June 30, 2025, is $1.0 million (net of accumulated depreciation). This investment in capital assets includes land, right-to-use assets, buildings and improvements and furniture and equipment. For more information, please refer to the notes to financial statements. The capital assets of the District are those assets which are used in the performance of the District’s functions.

Depreciation/amortization on capital assets is recognized in the Government-wide financial statements.

Table 3 – Summary of Capital Assets

2025 2024 Change
Governmental activities:

Capital assets, net
Land 963,390 $ 963,390 $ - $
Right-to-use 5,939 11,422 (5,483)
Buildings and improvements 8,874 9,683 (809) Furniture, fixtures and equipment 3,927 10,734 (6,807) Total 982,130$ 995,229 $ (13,099) $
Wildomar Cemetery District
Summary of Changes in Capital Assets
June 30, 2025 and 2024

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Wildomar Cemetery District

Management’s Discussion and Analysis
For the year ended June 30, 2025

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LONG-TERM LIABILITIES

At year end, the District had $258,972 in outstanding long-term liabilities for Governmental Activities. These liabilities are related to compensated absences, pension obligations, and leases payable. See Notes 6, 7 and 8 for additional information.

Table 4 – Summary of Long-Term Liabilities

2025 2024 Change
Governmental activities:

Leases 11,824 $ 15,913 $ (4,089) $
Net pension liability 207,658 220,669 (13,011) Compensated absences 39,490 13,005 26,485 Total 258,972$ 249,587 $ 9,385 $
Wildomar Cemetery District
Summary of Changes in Long-term Liabilities
June 30, 2025 and 2024

ECONOMIC FACTORS AND OUTLOOK FOR FUTURE YEARS

The staff and Board of Trustees serve the residents by keeping the cost of interments down, keeping staffing at minimum levels and performing most work with existing staff.

Key budget assumptions for forecasting General Fund revenues and expenditures include the following:

 Increase in property taxes due to increases in valuation.  Cemetery Master Plan
 Frontage improvements made in accordance with the Master Plan as part of the Palomar Road Widening project.

The Adopted Operating Budget for Fiscal Year 2025/26 is structurally balanced and attempts to balance accomplishment of the Trustee’s goals and objectives while maintaining financial stability.

REQUESTS FOR INFORMATION

This financial report is designed to provide a general overview of the Wildomar Cemetery District finances for all those with an interest in the District’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to:

Wildomar Cemetery District
Attention: Finance Department
23873 Clinton Keith Road, Suite 110
Wildomar, California 92595
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Wildomar Cemetery District

Statement of Net Position
June 30, 2025

The accompanying notes are an integral part of these financial statements. -11-
Governmental
Activities
ASSETS
Cash and investments 1,062,629 $
Restricted cash and investments 533,388
Accounts receivable 5,615
Due from other governments 37,419
Inventories 4,730
Capital assets, not being depreciated 963,390
Capital assets, net of depreciation 18,740
Total Assets 2,625,911

DEFERRED OUTFLOWS OF RESOURCES
Pension related items 71,944
Total deferred outflows of resources 71,944

LIABILITIES
Current Liabilities:

Accounts payable 28,931
Accrued liabilities 19,812
Deposits payable - pre-need 184,874
Noncurrent Liabilities:

Due within one year 19,535
Due in more than one year:

Compensated absences 24,805
Leases 6,974
Net pension liability 207,658
Total liabilities 492,589

DEFERRED INFLOWS OF RESOURCES
Pension related items 19,356
Total deferred inflows of resources 19,356

NET POSITION
Net investment in capital assets 970,306
Restricted for:

Endowment care 533,388
Unrestricted 682,216
Total net position 2,185,910 $

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Wildomar Cemetery District

Statement of Activities
For the year ended June 30, 2025

The accompanying notes are an integral part of these financial statements. -12-
Program revenues Net (expense)
Charges Operating Capital revenue and
for grants and grants and changes in
Expenses services contributions contributions net position Governmental Activities:

General government 1,141,276$ 75,151 $ - $ - $ (1,066,125)$ Total Governmental
Activities 1,141,276 $ 75,151 $ - $ - $ (1,066,125) General revenues:

Property taxes 824,981
Investment earnings 90,877
Fines and forfeitures 3,084
Total general revenues 918,942
Change in net position (147,183)
Net position, beginning of year 2,333,093
Net position, end of year 2,185,910 $

266
Wildomar Cemetery District

Balance Sheet
Governmental Funds
June 30, 2025

The accompanying notes are an integral part of these financial statements. -13-
Capital Total
General Projects Endowment Governmental
Fund Fund Fund Funds

ASSET S
Cash and investments 1,052,537 $ 10,092 $ - $ 1,062,629$ Restricted cash and investments - - 533,388 533,388 Interest receivable 5,441 - 174 5,615 Due from other governments 37,419 - - 37,419 Inventories 4,730 - - 4,730 Total assets 1,100,127 $ 10,092 $ 533,562 $ 1,643,781 $

LIABILITIES
Accounts payable 6,790 $ 22,120 $ 21 $ 28,931$ Accrued liabilities 19,812 - - 19,812 Deposits payable - pre-need 184,874 - - 184,874 Total liabilities 211,476 22,120 21 233,617

FUND BA LA NCES
Nonspendable:

Inventories 4,730 - - 4,730 Permanent fund corpus - - 502,820 502,820 Restricted for:

Endowment care - - 30,721 30,721 Unassigned 883,921 (12,028) - 871,893 .

Total fund balances (deficits) 888,651 (12,028) 533,541 1,410,164 Total liabilities and fund balances 1,100,127$ 10,092 $ 533,562 $ 1,643,781 $

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Wildomar Cemetery District

Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position
June 30, 2025

The accompanying notes are an integral part of these financial statements. -14-
Fund balances of governmental funds 1,410,164 $
Amounts reported for governmental activities in the statement of net position are different because:

Capital assets net of depreciation have not been included as financial resources in government fund activity. 982,130
Deferred outflows and inflows of resources related to pensions that are required to be recognized over a defined closed period.

Pension related deferred outflows of resources 71,944
Pension related deferred inflows of resources (19,356)
Liabilities that are not due and payable in the current period and are not reported in the funds.

Leases (11,824)
Net pension liability (207,658)
Compensated absences (39,490)
Net position of governmental activities 2,185,910 $

268
Wildomar Cemetery District

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

The accompanying notes are an integral part of these financial statements. -15-
Capital Total
General Projects Endowment Governmental
Fund Fund Fund Funds

REVENUES
Property taxes 824,981 $ - $ - $ 824,981$ Charges for services 47,652 - 27,499 75,151 Investment earnings 68,549 175 22,153 90,877 Fines and forfeitures 3,084 - - 3,084 Total revenues 944,266 175 49,652 994,093

EXPENDITURES
Current:

General government 868,116 - - 868,116 Materials and services 90,671 - - 90,671 Public works - 299 - 299 Debt service:

Principal 4,089 - - 4,089 Interest 2,428 - - 2,428 Capital outlay 18,684 124,459 - 143,143 Total expenditures 983,988 124,758 - 1,108,746 Excess (deficiency) of revenues over
expenditures (39,722) (124,583) 49,652 (114,653)

OTHER FINANCING RESOURCES (USES)
Transfers in - 96,295 - 96,295 Transfers out (96,295) - - (96,295) Total other financing sources (uses) (96,295) 96,295 - - Net change in fund balances (136,017) (28,288) 49,652 (114,653)

FUND BA LA NCES
Beginning of year 1,024,668 16,260 483,889 1,524,817 End of year 888,651 $ (12,028) $ 533,541 $ 1,410,164 $

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Wildomar Cemetery District

Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities For the year ended June 30, 2025

The accompanying notes are an integral part of these financial statements. -16-
Net change in fund balances - total governmental funds (114,653) $ Amounts reported for governmental activities in the statement of activities are different because:

Governmental funds report capital outlay as an expenditure in the full amount as current financial resources are used. However, in the Statement of Activities the cost of these assets is allocated over the estimated useful life as depreciation expense.

Depreciation expense (13,099)
Governmental funds report activity of long-term liabilities as revenues and expenditures, but they are included as increases and reductions on the long-term liabilities in the Statement of Net Position.

Principal payment 4,089
Net change in compensated absences (26,485)
Net change in the net pension liability and related deferred inflows and outflows of resources 2,965
Change in net position of governmental activities (147,183) $

270
Wildomar Cemetery District

Notes to Financial Statements
June 30, 2025

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting policies of the Wildomar Cemetery District (the “District”) conform to accounting principles generally accepted in the United States of America as applicable to governments. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for governmental accounting and financial principles. The following is a summary of the significant accounting policies.

A. Description of the Reporting Entity

The Wildomar Cemetery District (the District) is a public cemetery district operating under the provisions of the Health and Safety Code of the State of California. The District was created on March 28, 1955 for the purpose of operating a public cemetery for the residents of Wildomar, California. On July 28, 2011, the District was consolidated into the City of Wildomar as a subsidiary district (Government Code Section 57105). As a result, the structure of the District is a separate legal entity and the City Council of the City of Wildomar would oversee the operations of the District acting as the Board of Trustees.

The accompanying financial statements comply with the provisions of GASB in that the financial statements include all organizations, activities, and functions that comprise the District.

Component units are legally separate entities for which the District (the primary entity) is financially accountable. Financial accountability is defined as the ability to appoint a voting majority of the Organization’s governing body and either (1) the District’s ability to impose its will over the Organization or (2) the potential that the Organization will provide a financial benefit to, impose a financial burden on, the District. Using these criteria, the District has no component units.

The District is a component unit of the City of Wildomar and, accordingly, the financial statements of the District are included in the financial statements of the City. The District is an integral part of the reporting entity of the City of Wildomar. Only the funds of the District are included herein, therefore, these financial statements do not purport to represent the financial position or results of operations of the City. The District is reported as a blended component unit of the City of Wildomar.

B. Implementation of Governmental Accounting Standards Board (GASB) Pronouncements

The District has implemented GASB No. 101,
Compensated Absences and GASB No. 102, Certain
Risk Disclosures . There was no effect on the current year financial statements due to these pronouncements.

C. Basis of presentation

The District has conformed to the pronouncements of the GASB, which are the primary authoritative statements of accounting principles generally accepted in the United States of America applicable to state and local governments.
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Wildomar Cemetery District

Notes to Financial Statements
June 30, 2025

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

C. Basis of presentation (continued)

Government-wide Statements: The government-wide financial statements (i.e., the Statement of Net Position and the Statement of Activities) report information on all of the nonfiduciary activities of the reporting entity. For the most part, the effect of inter-fund activity has been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. Currently, the District does not report any business-type activities.

The Statement of Activities demonstrates the d egree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are expenses that are clearly identifiable with a specific program, project, function or segment. Program revenues of the District include charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a giv en function or segment. Taxes and other items that are properly not included among program revenues are reported instead as general revenues.

Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Currently, the District does not have any proprietary or fiduciary fund types. Major individual governmental funds are reported as separate columns in the fund financial statements.

Certain eliminations have been made as prescribed by accounting standards in regard to interfund activities, payables and receivables. All internal balances within the District have been eliminated on the statement of net position and the statement of activities.

D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation

The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting . Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting . Revenues are recognized as soon as they are both measurable and available. Revenues are considered to available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the District considers revenues to be available if they are collected within the 60 days of the fiscal year. Expenditures generally are recorded when a liability is incurred, as under accrual accounting.

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation (continued)

Property taxes, franchise taxes, licenses and interest associated with the current fiscal period are all considered to be susceptible to accrual and have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the government.

The District reports the following major governmental funds:

The General Fund is used to account for all financial resources of the District except those required to be accounted for in another fund. Included are transactions for services, rents, property taxes and interest. The general fund balance is available to the District for any purpose provided it is expended or transferred according to the rules of the Health and Safety Code and by approval of the Board of Trustees.

The Capital Projects Fund is used to account for financial resources used in making major capital improvement projects for the Cemetery. The resources are derived from the City of Wildomar.

The Endowment Fun d is used to account for financial resources to be used for future maintenance of the Cemetery. The resources are derived from an endowment care fee assessed on each sale of a burial right and earnings on these resources. Only income earned on these resources may be used for services, supplies or capital asset acquisitions.

The principal must be preserved intact.

E. Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity

Cash and Cash Equivalents

The District has defined cash and cash equivalents to include cash on hand, demand deposits, cash with fiscal agent, and short-term investments with original maturities of three months or less from the date of acquisition.

Investments

Investments are recorded at fair value. The estimated fair value of all investments is the quoted market price. Interest earned on all cash and investments is credited to the fund which holds the investment.

Restricted Assets

Certain resources are classified as restricted on the balance sheet because their use is limited to use in the future when the Cemetery no longer has space available to sell for burial rights.

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Wildomar Cemetery District

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

E. Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

Inventories

Inventory is valued at cost, which approximates fair value, on a first-in, first-out basis. These costs are recorded as expenditure when consumed rather than when purchased.

Capital Assets

Capital assets, which includes land, building, improvements, equipment, and infrastructure assets are reported in the governmental activities’ column in the government-wide statement of net position but are not reported in the fund financial statements. Capital assets are stated at cost (or estimated historical cost) and updated for additions or retirements during the year. Infrastructure and improvements are capitalized; the cost of normal maintenance and repairs that do not add to the value of the asset of materially extend the assets’ life are not. Donated capital assets are recorded at acquisition value at the date of donation. Capital assets are depreciated using the straight-line method over the following useful lives:

Assets Years
Buildings and improvements 10 to 15 years
Furniture, fixtures and equipment 3 to 10 years

Costs of assets sold or retired (and related amounts of accumulated depreciation) are eliminated from the accounts in the year of sale or retirement and the resulting gain or loss is included in the operating statement of the related fund. In governmental funds, the sale of general capital assets is included in the statement of revenues, expenditures and changes in fund balances as proceeds from sale of assets.

Property Taxes

Property taxes attach as an enforceable lien on property as of January 1st each year. Secured property taxes are levied on July 1st and are payable in two installments, on December 10th and April 10th. The County of Riverside Assessor’s Office assesses all real and personal property within the County each year. The County of Riverside Treasurer’s Office remits current and delinquent property tax collections to the District throughout the year. Property tax in California is levied in accordance with Article 13A of the State Constitution at one (1%) of countywide assessed valuations.

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

E. Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

Fund Equity

Fund balance in governmental funds are reported in classifications that comprise a hierarchy based primarily on the extent to which the District is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. The District considers restricted fund balance to have been spent first when an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available. Similarly, when an expenditure is incurred for purposes for which amounts in any of the unrestricted classifications of fund balance could be used, the District considers committed amounts to be reduced first, followed by assigned amounts and then unassigned amounts. The following classifications describe the relative strength of the spending constraints placed on the purposes for which resources can be used:

Nonspendable Fund Balance – Includes amounts that cannot be spent because they are either not in spendable form, or, for legal or contractual reasons, must be kept intact.

Restricted Fund Balance – Constraints placed on the use of these resources are either externally imposed by creditors (such as through debt covenants), grantors, contributors or other governments; or are imposed by law (though constitutional provisions or enabling legislation).

Committed Fund Balance – Amounts that can only be used for specific purposes because of a formal action (resolution or ordinance) by the Board of Trustees, who is government's highest level of decision-making authority.

Assigned Fund Balance – Amounts that are constrained by the District's intent to be used for specific
purposes, but that do not meet the criteria to be classified as restricted or committed. Intent can be stipulated by the governing body, another body, or by an official to whom the authority has been given.

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

Net position presents the difference between assets, deferred outflows of resources, liabilities, and deferred inflows of resources, in the statement of net position. Net investment in capital assets is reduced by the outstanding balances of any borrowing used for the acquisition, construction or improvement of those assets. Net position is reported as restricted when there are legal limitations imposed on their use by the District, laws or regulations of other governments.

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Notes to Financial Statements
June 30, 2025

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1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

E. Assets, Deferred Outflows/Inflows of Resources, Liabilities, and Net Position or Equity (continued)

Net position/fund balance flow assumptions – The District’s policy is to spend restricted amounts first when an expenditure/expense is incurred for purposes for which both restricted and unrestricted resources are available. Therefore, restricted net position/fund balance is depleted before using unrestricted net position/fund balance. In governmental funds, when an expenditure is incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used, the assumed order of spending is first committed, assigned and then unassigned.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, deferred outflows/inflows of resources, and liabilities and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.

2) CASH AND INVESTMENTS

Cash and investments are classified in the accompanying financial statements as follows:

Cash and investments 1,062,629 $
Restricted cash and investments 533,388
Total cash and investments 1,596,017 $

As of June 30, 2025, Cash and investments consisted of the following:

Deposits with financial institutions 39,943 $
Investments 1,556,074
Total cash and investments 1,596,017 $

The District invested cash from the Endowment Fund for the purpose of increasing earnings through investment activities. Cash not invested is held by the City of Wildomar in pooled accounts. These are identified by the District and the City by individual funds.

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2) CASH AND INVEST MENTS (continued)

Deposits

The California Government Code requires California banks and savings and loan associations to secure a City’s deposits by pledging government securities with a value of 110% of the City’s deposits. California law also allows financial institutions to secure City’s deposits by pledging first trust deed mortgage notes having a value of 150% of a City’s total deposits. The City Treasurer may waive the collateral requirement for deposits which are fully insured up to $250,000 by the FDIC.

The collateral for deposits in federal and state-chartered banks is held in safekeeping by an authorized Agent of Depository recognized by the State of California Department of Banking. The collateral for deposits with savings and loan associations is generally held in safekeeping by the Federal Home Loan Bank in San Francisco, California as an Agent of Depository. These securities are physically held in an undivided pool for all California public agency depositors.

Under Government Code Section 53655, the placement of securities by a bank or savings and loan association with an “Agent of Depository” has the effect of perfecting the security interest in the name of the local government agency. Accordingly, all collateral held by California Agent of Depository are considered to be held for, and in the name of, the local governmental agency.

Authorized Investments

The following table identifies the investment types that are authorized for the City by the California Government Code and the City’s investment policy (which the District follows). The table also identifies certain provisions of the California Government Code (or the City’s investment policy, if more restrictive, which the District follows) that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustees that are governed by provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City’s investment policy.

Maximum Maximum
Authorized Maximum Percentage Investment
Investment Type Maturity of Portfolio In One Issuer
U.S. Treasuries 5 years None None
Federal agency securities 5 years None None
Municipal bonds 5 years None None
Money market mutual funds N/A 20% None
Certificates of deposit N/A 10% None
Local Agency Investment Fund (LAIF) N/A None None
Banker’s acceptance notes 180 days 40% 30%
Commercial paper 270 days 25% 10%
Negotiable certificates of deposit 5 years 30% None
Joint Powers Authority Investment Pools N/A None None
Supranational obligations 5 years 30% None
Medium-term notes 5 years 30% None
Asset-backed securities 5 years 20% None
CAMP N/A None None

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2) CASH AND INVEST MENTS (continued)

Investment in California Asset Management Program

The California Asset Management Program (CAMP) is a public joint powers authority which provides California Public Agencies with investment management services for surplus funds and comprehensive investment management, accounting and arbitrage rebate calculation services for proceeds of tax-exempt financings. Public Agencies that invest in the Pool (Participants) purchase shares of beneficial interest. Particip ants may also establish individual, professionally managed investment accounts (Individual Portfolios) by separate agreement with the Investment Advisor. The District has a separate account in the Investment Advisor to manage part of the CAMP portfolio.

Investments in the Pools and Individual Portfolios are made only in investments in which Public Agencies generally are permitted by California statute. The CAMP may reject any investment and may limit the size of a Participant’s account. The Pool seeks to maintain, but does not guarantee, a constant net asset value of $1.00 per share. A Participant may withdraw funds from its Pool accounts at any time by check or wire transfers. Requests for wire transfers must be made by 9:00 a.m. that day. Fair value of the Pool is determined by the fair value per share of the Pool’s underlying portfolio.

Interest Rate Risk

Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the District manages its exposure to interest rate risk is by purchas ing a combination of shorter term and longer-term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations.

Information about the sensitivity of the fair values of the District’s investments to market interest rate fluctuation are presented below:

12 months 13 to 24 25 to 60
Investment type Total or less months months
CAMP Pool 1,556,074 $ 1,556,074 $ - $ - $
Total 1,556,074 $ 1,556,074 $ - $ - $

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2) CASH AND INVEST MENTS (continued)

Credit Risk

Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by the California Government Code and the actual ratings as of the year end for the Pool.

Minimum Rated
Investment Type Amount legal rating AAA
CAMP Pool 1,556,074 $ N/A 1,556,074 $
Total 1,556,074 $ 1,556,074 $

Concentration of Credit Risk

The California Government Code places limitations on the amount that can be invested in any one issuer. There were no investments in any one issuer (other than U.S. Treasury Securities, mutual funds and external investment pools) that represent 5% or more of total investments as of June 30, 2025.

Custodial Credit Risk

Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker-dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code does not contain legal requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provision for deposits.

The California Government Code requires that a financial institution secure deposits made by state or local government units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The market value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies. California law also allows financial institutions to secure deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits.

As of June 30, 2025, all deposits with financial institutions in excess of federal depository insurance limit were held in collateralized accounts where the collateral is not held specifically in the name of the District, as described above. As of June 30, 2025, the District did not have any investments held by a broker-dealer (counterparty) that was used by the District to buy the securities.
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3) FAIR VALUE MEASUREMENTS

Generally accepted accounting principles provi de the framework for measuring fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value with Level 1 given the highest priority and Level 3 the lowest priority. The three levels of the fair value hierarchy are as follows:

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the organization has the ability to access at the measurement date.

Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include the following:

 Quoted prices for similar assets or liabilities in active markets.

 Quoted prices for identical or similar assets or liabilities in markets that are not active.

 Inputs other than quoted prices that are observable for the asset or liability (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates).

 Inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs).

Level 3 inputs are unobservable inputs for the asset or liability.

Fair value of assets measured on a recurring basis as of June 30, 2025, are as follows:

Fair
Value Uncategorized
CAMP Pool 1,556,074 $ 1,556,074 $
Total 1,556,074 $ 1,556,074 $

Fair values for investments are determined by using a matrix pricing technique. Matrix pricing is used to value securities based on the security’s relationship to benchmark quoted prices.

280
Wildomar Cemetery District

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June 30, 2025

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4) CAPITAL ASSETS

A summary of changes in capital assets is as follows:

Beginning Ending
balance Additions Deletions balance
Capital assets, not being depreciated:

Land 963,390 $ - $ - $ 963,390$ Total capital assets, not being
depreciated 963,390 - - 963,390 Capital assets, being depreciated:

Right-to-use 22,281 - - 22,281 Buildings and improvements 349,598 - - 349,598 Furniture, fixtures and equipment 160,153 - - 160,153 Total capital assets, being
depreciated 532,032 - - 532,032 Less accumulated depreciation/amortization for:

Right-to-use amortization (10,859) (5,483) - (16,342) Buildings and improvements (339,915) (809) - (340,724) Furniture, fixtures and equipment (149,419) (6,807) - (156,226) Total Accumulated Depreciation (500,193) (13,099) - (513,292) Total Capital Assets, Being
Depreciated, Net 31,839 (13,099) - 18,740 Governmental Activities
Capital Assets, Net 995,229 $ (13,099) $ - $ 982,130$

Depreciation/amortization expense of $13,099 was charged to general government expense on the government-wide statements.

5) DEPOSITS PAYABLE - PRE-NEED

Included in deposits payable - pre-need is $184,874 which represents monies collected and held by the District in advance of services.

6) COMPENSATED ABSENCES PAYABLE

Compensated absences activity for the year ended June 30, 2025 was as follows:

Beginning Ending Due within
balance Net change balance one year
13,005$ 26,485 $ 39,490 $ 14,685 $

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June 30, 2025

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7) LEASES PAYABLE

The District leases a vehicle with an initial liability of $22,281 and a term of 48 months. As of June 30, 2025, the amount of the lease liability is $11,824. The lease has an interest rates of

17.22%. The estimated useful life of the assets was 5. The value of the right-to-use asset as of June 30, 2025, is $22,281 with accumulated amortization of $16,342. The right-to-use asset is being amortized over the lease term. The vehicle has a guaranteed residual value of $5,939.

The lease activity for the year ended June 30, 2025, is as follows:

Beginning Ending Due within
balance Additions Deletions balance one year
15,913$ - $ (4,089)$ 11,824 $ 4,850 $

The future lease payments on the lease are as follows:

Year ended
June 30, Principal Interest Total
2026 4,850 $ 1,665 $ 6,515 $
2027 6,974 128 7,102
Totals 11,824$ 1,793 $ 13,617 $

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Wildomar Cemetery District

Notes to Financial Statements
June 30, 2025

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8) PENSION PLAN

General Information about the Pension Plans

Plan Description

All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (Plan or PERF C) administered by the California Public Employ ees’ Retirement System (CalPERS.) The Plan consists of a miscellaneous pool and a safety pool (also referred to as “risk pools”), which are comprised of individual employer miscellaneous and safety rate plans, respectively. Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous pools.

Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under generally accepted accounting principles. Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The District participates in one miscellaneous plan.

Benefit provisions under the Plan are established by State statute and District 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, at www.calpers.ca.gov.

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 5 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 operates under the provisions of the California Public Employees’ Retirement Law (PERL), the California Public Employees’ Pension Reform Act of 2013 (PEPRA), and the regulations, procedures and policies adopted by the CalPERS Board of Administration. The Plan’s authority to establish and amend the benefit terms are set by the PERL and PEPRA, and may be amended by the California state legislature and in some cases require approval by the CalPERS Board.

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8) PENSION PLAN (continued)

General Information about the Pension Plans (Continued)

The rate plan provisions and benefits in effect as of June 30, 2025, are summarized as follows:

Miscellaneous
Prior to On or after
Hire date January 1, 2013 January 1, 2013
Benefit formulas 2.7% at 55 2% at 62
Benefit vesting schedule 5 years of service 5 years of service Benefit payments Monthly for life Monthly for life
Retirement age 50-55+ 52-67+
Monthly benefits, as a % of eligible compensation 2.0%-2.7% 1.0%-2.5% Required employee contribution rates
(1) N/A N/A
Required employer contribution rates N/A N/A
(1) The District currently has no employees and all services are performed by City Employees.

Contributions

Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer contribution rates for all public employers are determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. The total plan contributions are determined through CalPERS’ annual actuarial valuation process. 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 employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. Employer contribution rates may change if plan contracts are amended. Payments made by the employer to satisfy contribution requirements that are identified by the pension plan terms as plan member contribution requirements are classified as plan member contributions. Employer contributions to the Plan for the fiscal year ended June 30, 2025, were $30,810.

Net Pension Liability

The District’s net pension liability for the Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability of the Plan is measured as of June 30, 2024, using an annual actuarial valuation as of June 30, 2023, rolled forward to June 30, 2024, using standard update procedures. A summary of principal assumptions and methods used to determine the net pension liability is as follows:

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8) PENSION PLAN (continued)

Net Pension Liability (continued)

Actuarial Methods and Assumptions Used to Determine Total Pension Liability

The collective total pension liability for the June 30, 2024, measurement period was determined by an actuarial valuation as of June 30, 2023, with update procedures used to roll forward the total pension liability to June 30, 2024. The collective total pension liability was based on the following assumptions:

Actuarial Methods and Assumptions Used to Determine Total Pension Liability (continued)

Valuation date June 30, 2023
Measurement date June 30, 2024
Actuarial cost method Entry age normal
Asset valuation method Fair value of assets
Actuarial assumptions:

Discount rate 6.90%
Inflation 2.30%
Projected salary increase Varies by Entry Age and Service Mortality Derived using CalPERS' membership data
Post retirement benefit increase The lesser of contract COLA or 2.30% until Purchasing Power Protection Allowance floor on
purchasing power applies, 2.30% thereafter.
(1) The mortality table used was developed based on CalPERS-specific data. The rates incorporate Generational Mortality to capture ongoing mortality improvements using 80% of Scale MP-2020 published by the Society of Actuaries. For more details, please refer to the 2021 experience study report from November 2021 that can be found on the CalPERS website.

Long-term Expected Rate of Return

The long-term expected rate of return on pension plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations. Using historical returns of all of the funds’ asset classes, expected compound (geometric) returns were calculated over the next 20 years using a building-block approach. The expected rate of return was then adjusted to account for assumed administrative expenses of 10 Basis points.

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June 30, 2025

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8) PENSION PLAN (continued)

Net Pension Liability (continued)

The expected real rates of return by asset class are as follows:

Assumed Asset
Assets Class Allocation Real Return 1, 2
Global equity - cap-weighted 30.00% 4.54%
Global equity - non-cap-weighted 12.00% 3.84%
Private equity 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage-backed securities 5.00% 0.50%
Investment grade corporates 10.00% 1.56%
High yield 5.00% 2.27%
Emerging market debt 5.00% 2.48%
Private debt 5.00% 3.57%
Real assets 15.00% 3.21%
Leverage (5.00%) (0.59%)
2 Figures are based on the 2021-22 Asset Liability Management study. 1 An expected inflation of 2.30% used for this period.

Discount Rate

The discount rate used to measure the total pension liability for PERF C 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.

Subsequent Events

There were no subsequent events that would materially affect the results presented in this disclosure.

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8) PENSION PLAN (continued)

Net Pension Liability (continued)

Pension Plan Fiduciary Net Position

Information about the pension plan’s assets, deferred outflows of resources, liabilities, deferred inflows of resources, and fiduciary net position are presented in CalPERS’ audited financial statements, which are publicly available reports that can be obtained at CalPERS’ website, at www.calpers.ca.gov. The plan’s fiduciary net position and additions to/deductions from the plan’s fiduciary net position have been determined on the same basis used by the pension plan, which is the economic resources measurement focus and the accrual basis of accounting. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan.

Investments are reported at fair value.

The following table shows the District’s proportionate share of the Plan’s net pension liability over the measurement period.

District total District fiduciary District net pension
pension liability net position liability
(a) (b) (c) = (a) - (b)
Balance at: 6/30/2023 (VD) 728,455$ 507,786 $ 220,669 $ Balance at: 6/30/2024 (MD) 746,414 538,756 207,658 Net changes during 2023-24 (17,959)$ (30,970) $ 13,011 $ Valuation date (VD); Measurement date (MD)

The District’s proportion of the net pension liability was determined by CalPERS using the output from the Actuarial Valuation System and the fiduciary net position, as provided in the CalPERS Public Agency Cost-Sharing Allocation Methodology Report, which is a publicly available report that can be obtained at CalPERS’ website, at www.calpers.ca.gov. The District’s proportionate share of the net pension liability for the miscellaneous Plan as of the June 30, 2023 and 2024 measurement dates was as follows:

Proportion - June 30, 2023 0.00441%
Proportion - June 30, 2024 0.00429%
Change - increase (decrease) -0.00012%

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June 30, 2025

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8) PENSION PLAN (continued)

Proportionate Share of Net Pension Liability

Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate

The following presents the District’s proportionate share of the net pension liability of the Plan as of the measurement date, calculated using the discount rate of 6.9 percent, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage-point lower (5.9 percent) or 1 percentage-point higher (7.9 percent) than the current rate:

Discount rate - 1% Current Discount Discount rate - 1%
(5.90%) Rate (6.90%) (7.90%)
Net pension liability 308,380 $ 207,658 $ 124,750 $

Amortization of Deferred Outflows and Deferred Inflows of Resources

Gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time.

The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to pensions and are to be recognized in future pension expense.

The amortization period differs depending on the source of the gain or loss:

Difference between projected
and actual earnings
5 year straight-line amortization
All other amounts Straight-line amortization over the average expected remaining services lives of all members
that are provided with benefits (active, inactive and
retired) as of the beginning of the measurement
period

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8) PENSION PLAN (continued)

Pension Expenses and Deferred Outflows and Deferred Inflows of Resources Related to Pensions

As of the start of the measurement period (Jul y 1, 2023), the District’s net pension liability was $220,669. For the measurement period ending June 30, 2024 (the measurement date), the District incurred a pension expense of $27,845.

As of June 30, 2025, the City has deferred outflows and deferred inflows of resources related to pensions as follows:

Deferred Deferred
outflows of inflows of
resources resources
Pension contributions subsequent to measurement date 30,810 $ - $ Change of assumptions 5,337 -
Differences between expected and actual experience 17,954 701 Differences between projected and actual investment earnings 11,955 - Differences between employer’s contributions and proportionate share of contributions 5,888 109
Changes in employer’s proportion - 18,546 Total 71,944 $ 19,356 $

The amounts above are net of outflows and inflow s recognized in the 2023-24 measurement period expense. Contributions subsequent to the measurement date of $30,810 reported with deferred outflows of resources will be recognized as a reduction of the net pension liability in the upcoming fiscal year. Other amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in future pension expense as follows:

Fiscal Deferred
year ended outflows/inflows
June 30, of resources
2026 2,728 $
2027 24,122
2028 (975)
2029 (4,097)
2030 -
Thereafter -
Total 21,778 $

Payable to the Pension Plan

At June 30, 2025, the District reported a payable of $0 for the outstanding amount of contributions to the pension plan required for the year then ended.

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Wildomar Cemetery District

Notes to Financial Statements
June 30, 2025

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9) RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters for which the District obtains insurance coverage.

The District is a member of the California Intergovernmental Risk Authority - CIRA (Authority), a joint powers authority, which provides joint protection programs for public entities covering automobile, general liability, errors and omission losses, workers’ compensation, and property claims. Under the program, the District has a $5,000 retention limit similar to a deductible with the Authority being responsible for losses above that amount up to $1 million. The Authority has additional coverage of $35 million in excess of its $1 million retention limit through multiple insurers and insurance risk sharing pool. The Authority also provides one billion dollars aggregate per occurrence property damage to its members with such coverage provided by purchased insurance.

Liabilities of the District are reported when it is probable that a loss has occurred, and the amount of the loss can be reasonably estimated. Liabilities include an amount for claims that have been incurred by not reported (IBNRs). The result of the process to estimate the claims’ liability is not an exact amount as it depends on many complex factors, such as inflation, changes in legal doctrines, and damage awards. Accordingly, claims are reevaluated periodically to consider the effects of economic and social factors. The estimate of the claims’ liability also includes amounts for incremental claim adjustment expenses related to specific claims and other claim adjustment expenses regardless of whether allocated to specific claims. Estimated recoveries, for example from salvage or subrogation, are another component of the claim’s liability estimate.

The Authority covers workers’ compensation claims up to its self-insurance limit of $500,000. The Local Agency Workers Compensation Excess Pool provides excess coverage to statutory limits.

The District pays an annual premium to the Authority and may share in any operating results.

Financial statements of the California Intergovernmental Risk Authority (CIRA) may be obtained from its administrative office located at 2330 East Bidwell, Suite 150, Folsom, California, 95630; www.cira-jpa.org or by calling (916) 927-7727.

As of June 30, 2025, the District did not have any significant claims liability; therefore, no accrual was required. Claims settlements have not exceeded insurance coverage in each of the past four years.

10) COMMITMENTS AND CONTINGENCIES

As of June 30, 2025, in the opinion of the District’s Administration, there are no outstanding matters which would have a significant effect on the financial condition of the funds of the District. 290

REQUIRED SUPPLEMENTARY INFORMATION
291
Wildomar Cemetery District

Notes to Required Supplementary Information
June 30, 2025

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A. Budgetary Data

The District follows these procedures, in establishing budgetary data reflected in the Required Supplemental Information - Budgetary Schedules:

The Board of Trustees approves each year’s budget prior to the beginning of the new fiscal year.

Public hearings are conducted prior to its adoption by the Board. Supplemental appropriations, were required during the period, are also approved by the Board. In most cases, expenditures may not exceed appropriations at the function level. At fiscal year-end, all operating budget appropriations lapse. All funds of the District legally adopt an annual budget which is on a basis consistent with generally accepted accounting principles (GAAP). The City of Wildomar issues a separate budget document which contains the Cemetery District’s budget.

B. Excess of Expenditures over Appropriations

Debt service had expenditures in excess of appropriations in the current fiscal year.

292
Wildomar Cemetery District

Required Supplementary Information
Budgetary Comparison Schedule
General Fund
For the year ended June 30, 2025

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Budgeted amounts Actual Variance with
Original Final amounts final budget
Budgetary fund balance, July 1 1,024,668$ 1,024,668 $ 1,024,668 $ - $ Resources (inflows):

Property taxes 633,900 846,000 824,981 (21,019) Charges for services 132,600 114,000 47,652 (66,348) Investment earnings 5,000 60,000 68,549 8,549 Lease acquisition 100 100 - (100) Fines and forfeitures - - 3,084 3,084 Amounts available for
appropriations 1,796,268 2,044,768 1,968,934 (75,834) Charges to appropriations (outflows):

Current:

General government 792,100 929,300 868,116 61,184 Materials and services 168,600 229,900 90,671 139,229 Debt service:

Principal - - 4,089 (4,089) Interest - - 2,428 (2,428) Capital outlay 11,400 44,500 18,684 25,816 Transfers out 192,800 120,000 96,295 23,705 Total charges to appropriations 1,164,900 1,323,700 1,080,283 243,417 Budgetary fund balance, June 30 631,368$ 721,068 $ 888,651 $ 167,583 $

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Wildomar Cemetery District

Required Supplementary Information
Schedule of the District’s Proportionate Share of the Net Pension Liability CalPERS Pension Plan
Last Ten Years

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Proportionate Share Plan Fiduciary
of the Net Pension Net Position as a
Proportionate Share Employer's Liability as a Percentage of the Measurement Net Pension of the Net Pension Covered Percentage of Total Pension date Liability (1) Liability Payroll (2) Covered Payroll Liability 2016 0.00226% 195,159 $ - $ 0.00% 74.06% 2017 0.00215% 213,644 - 0.00% 73.31% 2018 0.00211% 203,561 - 0.00% 75.26% 2019 0.00204% 208,876 - 0.00% 75.26% 2020 0.00192% 209,178 - 0.00% 75.10% 2021 0.00250% 135,206 - 0.00% 88.29% 2022 0.00189% 218,495 - 0.00% 76.68% 2023 0.00467% 207,223 - 0.00% 76.21% 2024 0.00413% 220,699 - 0.00% 78.08% 2025 0.00429% 207,658 - 0.00% 72.18% (2)The District’s plan is still open, how ever does not have any active employees, therefore, no current payroll. (1) Proportion of the collective net pension liability represents the plan's proportion of PERF C, w hich includes both the Miscellaneous and Safety Risk pools excluding the 1959 Survivors Risk Pool.

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Wildomar Cemetery District

Required Supplementary Information
Schedule of Contributions CalPERS Pension Plan
Last Ten Years

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Contractually Contributions in
Required Relation to the
Contribution Actuarially Contribution Contributions as a Fiscal (Actuarially Determined Deficiency Employer's Percentage of year Determined) Contribution (Excess) Covered Payroll (1) Covered Payroll 2016 - $ - $ - $ - $ 0.00% 2017 - - - - 0.00% 2018 - - - - 0.00% 2019 - - - - 0.00% 2020 - - - - 0.00% 2021 - - - - 0.00% 2022 - - - - 0.00% 2023 - - - - 0.00% 2024 - - - - 0.00% 2025 - - - - 0.00% The contributions made by the Cemetery District are for the unfunded liabilities and not for current service costs.

Notes to Schedule:
(1)The District’s plan is still open, how ever does not have any active employees, therefore, no current payroll.

Changes in Benefit Terms: There were no changes to benefit terms that applied to all members of the Public Agency Pool. However, individual employers in the Plan may have provided a benefit improvement to their employees such as Golden Handshakes, service purchases, and other prior service costs. Employers that have done so may need to report this information as a separate liability in their financial statement as CalPERS considers such amounts to be separately financed employer-specific liabilities. These employers should consult with their auditors. Additionally, the figures above do not include any liability impact that occurred after the June 30, 2023, valuation date
, unless the liability impact is deemed to be material to the Public Agency Pool.

Changes in Assumptions: There were no assumption changes in 2023 or 2024. Effective with the June 30, 2021, valuation date (June 30, 2022, measurement date), the accounting discount rate was reduced from 7.15% to 6.90%.

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. In addition, demographic assumptions and the price inflation assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. The accounting discount rate was 7.15% for measurement dates June 30, 2017, through June 30, 2021, and 7.65% for measurement dates June 30, 2015, through June 30, 2016.

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SUPPLEMENTARY INFORMATION
296
Wildomar Cemetery District

Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual - Capital Projects Fund
For the year Ended June 30, 2025

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Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary fund balance, July 1 16,260$ 16,260 $ 16,260 $ - $ Resources (inflows):

Investment earnings - - 175 175 Transfers in 100,000 1,843,000 96,295 (1,746,705) Amounts available for
appropriations 116,260 1,859,260 112,730 (1,746,530) Charges to appropriations (outflows):

Current:

Public works - 1,100 299 801 Capital outlay 82,000 1,878,400 124,459 1,753,941 Total charges to appropriations 82,000 1,879,500 124,758 1,754,742 Budgetary fund balance, June 30 34,260$ (20,240) $ (12,028) $ 8,212 $

297
Wildomar Cemetery District

Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual - Endowment Fund
For the year ended June 30, 2025

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Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
Budgetary fund balance, July 1 483,889$ 483,889 $ 483,889 $ - $ Resources (inflows):

Charges for services 58,000 42,000 27,499 (14,501) Investment earnings 5,000 20,000 22,153 2,153 Amounts available for
appropriations 546,889 545,889 533,541 (12,348) Budgetary fund balance, June 30 546,889$ 545,889 $ 533,541 $ (12,348) $

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Tel. 909-889-0871 | www.ramscpa.net | 735 E. Carnegie Dr. Suite 100, San Bernardino, CA 92408

CERTIFIED PUBLIC ACCOUNTANTS

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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

Independent Auditor’s Report

To the Honorable Board of Directors
Wildomar Cemetery District
City of Wildomar, California

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards), the financial statements of the governmental activities and each major fund of the Wildomar Cemetery District (the District), a component unit of the City of Wildomar, as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our report thereon dated March 11, 2026.

Report on Internal Control over Financial Reporting

In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) as a basis for designing procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the District’s financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses.

However, material weaknesses or significant deficiencies may exist that were not identified.

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Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its complianc e with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objec tive of our audit and, accordingly, we do not express s uch an opinion. The results of our tests dis closed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

San Bernardino, California
March 11, 2026
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Tel. 909-889-0871 | www.ramscpa.net | 735 E. Carnegie Dr. Suite 100, San Bernardino, CA 92408

CERTIFIED PUBLIC ACCOUNTANTS

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March 11, 2026

President and Board of Trustees
Wildomar Cemetary District
Wildomar, California

We have audited the financial statements of the Wildomar Cemetery District (the District) as of and for the year ended June 30, 2025, and have issued our report thereon dated March 11, 2026. Professional standards require that we advise you of the following matters relating to our audit.

Our Responsibility in Relation to the Financial Statement Audit

As communicated in our engagement letter dated Apr il 8, 2025, our responsibility, as described by professional standards, is to form and express opi nions about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America. Our audit of the financial statements does not relieve you or management of your respective responsibilities.

Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolut e, assurance about whether the financial statements are free of material misstatement. An audit of financial statements includes consideration of the system of internal control over financial reporting as a basis for designing audit procedu res that are appropriate in the circumstances, but not for the purpose of expressing an opinion on t he effectiveness of the entity’s internal control over financial reporting. Accordingly, as part of our audit, we considered the system of internal control of the entity solely for the purpose of determining our a udit procedures and not to provide any assurance concerning such internal control.

We are also responsible for communicating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilities in overseeing the financial reporting process.

However, we are not required to design procedures for the purpose of identifying other matters to communicate to you.

Planned Scope and Timing of the Audit

We conducted our audit consistent with the planned scope and ti ming we previously communicated to you.

Compliance with All Ethics Requirements Regarding Independence

The engagement team, others in our firm, as appropriate, and our firm have complied with all relevant ethical requirements regarding independence.
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We have evaluated whether certai n nonattest services performed by our firm during the audit have created a significant threat to our independence in relation to the entity. We have identified a threat to our independence (preparation of the entity’s financial statements, creating a self-review threat) that if not reduced to an acceptable level, would impair our independence. In order to reduce the threat to an acceptable level, we have applied the following safeguard:

Prior to the issuance of the entity’s financ ial statements, another partner or manager, independent of the engagement, will review the financial statements.

Significant Risks Identified

We have identified the possibility of the following significant risks:

Management's override of internal controls over financial reporting – Management override of internal controls is the in tervention by management in han dling financial information and making decisions contrary to internal control policy.

Revenue recognition – Revenue recognition is a generally accepted accounting principle that refers to the conditions under which an entity can recognize a transaction as revenue. Auditing standards indicate that recognizing revenue is a presumed fraud risk and usually classified as a significant risk in most audits.

These significant risks are presumptive in most audits and merit attention by the auditors due to the direct impact over financial reporting and internal control processes. Although identified as significant risks, we noted no matters of management override of controls or deviations from generally accepted accounting principles whic h caused us to modify our audit proc edures or any related matters which are required to be communicated to those charged with governance due to these identified risks.

Qualitative Aspects of the Entity’s Significant Accounting Practices

Significant Accounting Policies

Management has the responsibility to select and use appropriate accounting policies. A summary of the significant accounting polic ies adopted by the entity is incl uded in Note 1 to the financial statements. The City adopt ed GASB Statement No. 101, Compensated Absence , and GASB Statement No. 102, Certain Risk Disclosures during 2025. No matters have come to our attention that would require us, under professional standards, to inform you about (1) the methods used to account for significant unusual transactions and (2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus.

Significant Accounting Estimates and Related Disclosures

Accounting estimates and related disclosures ar e an integral part of the financial statements prepared by management and are based on managem ent’s current judgments. Those judgments are normally based on knowledge and experience about past and current events and assumptions about future events. Certain a ccounting estimates are particula rly sensitive bec ause of their significance to the financia l statements and because of the possib ility that future events affecting them may differ markedly from management’s current judgments.

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The most sensitive accounting estimates affecting the entity’s financial statements are:

Management’s estimate of the net pension liability and related deferred inflows and outflows of resources are based on actuarial reports by independent actuaries. We evaluated the key factors and assumptions used to develop the estima te in determining that it is reasonable in relation to the basic financial statements taken as a whole an d in relation to the applicable opinion units.

Financial Statement Disclosures

Certain financial statement discl osures involve significant judgm ent and are particularly sensitive because of their significance to financial statement users.

The most sensitive disclosures affecting the entity’s financial statements relate to:

The disclosure of net pension li ability and related deferred inflows and outflows of resources in the basic financial statements is based on actuarial assumptions. Actual future liabilities and actuarial deferred inflows and outflows may vary from disclosed estimates.

Significant Difficulties Encountered during the Audit

We encountered no significant difficulties in dealing with management relating to the performance of the audit.

Uncorrected and Corrected Misstatements

For purposes of this communication, professional st andards require us to accumulate all known and likely misstatements identified dur ing the audit, other than those that we believe are trivial, and communicate them to the appropriate level of management. Further, professional standards require us to also communicate the effect of uncorrected misstatements related to prior periods on the relevant classes of transactions, account balances or disclosures, and the financial statements as a whole and each applicable opinion unit. There were no uncorrected misstatements noted.

In addition, professional standards require us to communicate to you all material, corrected misstatements that were brought to the attention of management as a result of our audit procedures.

None of the misstatements identified by us as a result of our audit procedures and corrected by management were material, either individually or in the aggregate, to the financial statements taken as a whole or applicable opinion unit.

Disagreements with Management

For purposes of this letter, professional standar ds define a disagreement with management as a matter, whether or not resolved to our satisfacti on, concerning a financial a ccounting, reporting, or auditing matter, which could be signifi cant to the entity’s financial statements or the auditor’s report.

No such disagreements arose during the course of the audit.

Representations Requested from Management

We have requested certain writt en representations from management, which are included in the attached letter dated March 11, 2026.

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Management’s Consultations with Other Accountants

In some cases, management may decide to cons ult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing and accounting matters.

Other Significant Matters, Findings, or Issues

In the normal course of our professional association with the entity, we generally discuss a variety of matters, including the application of accounting principles and auditi ng standards, significant events or transactions that occurred during the year, operating and regulatory conditions affecting the entity, and operational plans and strategies that may affect the risks of material misstatement. None of the matters discussed resulted in a condition to our retention as the entity’s auditors.

Our responsibility also includes communicating to you any information which we believe is a material misstatement of fact. Nothing came to our attention that caused us to believe that such information, or its manner of presentation, is materially inconsistent with the information, or manner of its presentation, appearing in the financial statements.

This report is intended solely for the information and use of the President and Board of Trustees and management of the entity and is not intended to be and should not be used by anyone other than these specified parties.

Very truly yours,

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CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.8

Meeting Date: April
8, 2026
SUBJECT:

Updating the City's Conflict of Interest Code

SUBMITTED BY:

Janet Morales Garcia, City Clerk

ACTION:

Adopt a Resolution entitled:

RESOLUTION NO. 2026 - ___

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR, CALIFORNIA, UPDATING THE CITY’S CURRENT CONFLICT OF INTEREST CODE SET FORTH BY THE

CALIFORNIA STATE FAIR POLITICAL PRACTICES COMMISSION FOR ELECTED

OFFICIALS, BOARD AND COMMISSION MEMBERS, AND EMPLOYEES OF THE CITY OF

WILDOMAR
SUMMARY:

A conflict of interest code tells public officials, government employees, and consultants which financial interests they must disclose in their Statements of Economic Interests (Fair Political Practices Commission (FPPC) Form 700).

BACKGROUND:

The Political Reform Act mandates that public agencies establish a local conflict of interest code. This code designates specific positions that are required to file Statements of Economic Interests (FPPC Form 700) and outlines disclosure categories specifying the types of interests that must be reported. Additionally, the conflict of interest code must be reviewed every two years and updated as necessary.

DISCUSSION:

The city restructured the departments within the organization and updated the schedule of authorized positions in February 2026. It would now be appropriate for the City Council to update the conflict of interest code to reflect the recent additions and changes to positions.

Exhibits A and B attached to the resolution identify the changes made in red.

FISCAL IMPACT:

No impact in adopting this Resolution.

ATTACHMENTS:

1. Resolution

2. Repeal Reso 2025-05
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RESOLUTION NO. 2026 - ___

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR, CALIFORNIA, UPDATING THE CI TY’S CURRENT CONFLICT OF

INTEREST CODE SET FORTH BY THE CALIFORNIA STATE FAIR

POLITICAL PRACTICES COMMISSION FOR ELECTED OFFICIALS,

BOARD AND COMMISSION MEMBER S, AND EMPLOYEES OF THE

CITY OF WILDOMAR

RECITALS

WHEREAS, the Political Reform Act of 1974, Go vernment Code Section 81000, et seq., requires state and local government agencies to adopt and promulgate conflict interest codes; and

WHEREAS, the Fair Political Practices Commission has adopted a regulation, 2 Cal. Code of Regs. Section 18730, which contains the terms of a standard conflict of interest code; and

WHEREAS, the City adopted Regulatio n 18730 as its conflict of interest code on August 27, 2008; and

WHEREAS, the Political Reform Act requires every local government agency to review its conflict of interest code bi ennially and as needed, to amend the City of Wildomar’s Conflict of Interest Code to include the agency’s newly or restructured authorized positions.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wildomar as follows:

1. The terms of 2 Cal. Code of R egs. Section 18730 and any amendments to it duly adopted by the Fair Political Practice s Commission are hereby incorporated by reference and, along with the attached Ex hibit A, in which officials, boards , and commission members and employees are designated, and Exhibit B in which disclosure categories are set forth, constitute the conflict of interest code of the City of Wildomar.

2. Upon receipt of statements of the Members of the City Council, Planning Commission, City Manager, City A ttorney, and City Treasurer , shall file their statements with the Fair Political Practices Commission. , Tthe City Clerk shall make and retain a copy. and forward the original of t hese statements to the Fair Political Practices Commission.

Designated employees shall file statements of economic inte rests with the City Clerk. All statements of economic interests will be m ade available for public inspection and reproduction, upon request, pursuant to Government Code 81008.

3. Resolution No. 2025-05 is hereby repealed.

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PASSED, APPROVED, AND ADOPTED this 11th day of March, 2026.

______ ________________________
Carlos Marquez
M a y o r

APPROVED AS TO FORM: ATTEST:

______________________________ _______________ _______________ Thomas D. Jex Janet Morales Garcia, CMC
City Attorney City Clerk

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EXHIBIT A

DESIGNATED EMPLOYEES

Position Disclosure Category

Administrative Services Director 1
Assistant City Manager 1
Assistant to the City Manager 1
Building Inspection Supervisor 1
Chief Building Official 1
C i t y C l e r k 1
City Clerk – MMC Certified 1
C i t y E n g i n e e r 1
Code Enforcement Manager 1
Code Enforcement Supervisor 1
Community Development Director 1
Community Engagement Coordinator 1
Community Services Director 1
Community Services Manager 1
Deputy City Manager 1
Economic Development Director 1
Economic Development Manager 1
Engineering Division Manager 1
Facilities Contract Specialist 1
Field Supervisor 1
Finance Manager 1
Human Resources and Risk Manager 1
Maintenance Manager 1
Planning Manager 1
Principal Engineer 1
Principal Engineer/ City Engineer 1
Principal Planner 1
Public Safety Manager 1
Public Works Manager 1
Public Works Director 1
Public Works Director/City Engineer 1
Senior Engineer 1
Senior Financial Analyst 1
Senior Planner 1
Senior Management Analyst 1
Supervising Public Works Inspector 1
Candidates for Council 1
Retired Annuitant City Manager Extra Help 1
Retired Annuitant Executive Extra Help 1
Retired Annuitant Supervisory Extra Help 1
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Measure AA Committee Members 1
Measure Z Committee Members 1
*Consultants 1-3 as applicable

*Consultants shall be included in the list of designated employees and may be required to file a State of California, Fair Political Practices Commi ssion, Statement of Economic Interests form. If a consultant participates in making financial decisions, said consultant is required to disclose certain types of information so that the public can be made aware of any potential conflict of interest. This fo rm must be filed each year and is a public document. However, the following limitation may apply:

The City Manager may determine in writing t hat a particular consultant, although a “designated position” is hired to perform a range of duties that is limited in scope and thus is not required to comply fully with the disclosure r equirements described in this section.

Such determination shall include a description of the consultant’s duties and, based upon that description, a statement of the extent of disclosure requirements. The City Manager’s determination is a public record and shall be retained for public inspection in the same manner and location as this conflict of interest code.

The following positions are NOT covered by this code, because they are required to file full disclosure with the Fair Political Practices Commission under Section 87200, and therefore, are listed for informational purposes only:

City Councilmembers
City Attorneys
City Manager
City Treasurer
City Planning Commissioners
Candidates for City Council
Public Officials who manage Public Investments

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EXHIBIT B

DISCLOSURE CATEGORIES

All disclosure definitions are contained in the Political Reform Act.

All designated employees shall make disclosure in the following category:

1. Full Disclosure: All investments and business po sitions in business entities, sources of income including gifts, loans, and travel payments, and interests in real property.

Form 700 Schedules: All Schedules (A through E)

2. Income: All sources of income including gi fts, loans, and travel payments, unless otherwise exempt from disclosure by the Political Reform Act.

Form 700 Schedules: C, D, E

3. Real Property: All interests in real property located within the City.

Form 700 Schedules: B

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CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.9

Meeting Date: April
8, 2026
SUBJECT:

TUMF Agreement Amendment No. 4 for the Palomar St.

Widening Project
SUBMITTED BY:

Jason Farag, Public Works Director/City Engineer
PREPARED BY:

Warren Repke, Consultant Project Manager

ACTION:

Authorize the City Manager to execute a Fourth TUMF Agreement Amendment with the Western Riverside Council of Governments (WRCOG) for the Palomar Street Widening Project.

SUMMARY:

An agreement with WRCOG is required to expend TUMF funds on a project and receive reimbursement. The funds included in the City's current agreement with WRCOG, as amended, for Palomar Street does not meet what is required to fund the Engineering, Right-of- Way, and Construction of the current Palomar Street Widening Project (CIP 028-2). Therefore, an additional amendment is required to make the funds available.

BACKGROUND:

On October 1, 2012, the Western Riverside Council of Governments (WRCOG) and the City entered into an agreement titled "Transportation Uniform Mitigation Fee Program Agreement" (Agreement) establishing the terms and conditions, scope of work, schedule and funding amount for the widening of Palomar Street between Mission Trail and Jefferson Street. This agreement appropriated funds totaling $95,680 for project approvals and environmental documents.

On October 14, 2020, WRCOG and the City executed Amendment No. 2 to the original Agreement that added an additional Right-of-Way Phase and revised the total Agreement amount to $1,320,517.

On October 13, 2021, WRCOG and the City executed Amendment No. 3 which added a Construction Phase and increased the total Agreement amount to $3,261,512.

DISCUSSION:

Amendment No. 4 to the Agreement is proposed to realign the funds in each phase of the project and increase the total funding amount to $5,361,517. The proposed funding for each Phase is identified in Table 1 below. A copy of Amendment No. 4 is included as Attachment A.

Table 1 - Proposed TUMF Funding

Phase
Funding
323
PA&ED
$331,292
PS&E
$560,940
Right-of-
Way
$1,160,110
Construction
$3,309,175
Total
$5,361,517

Staff recommends that the City Council authorize the City Manager to execute the proposed Amendment No. 4 to the TUMF Reimbursement Agreement for Palomar Street.

ACCOUNT CODE:
503-4500

FISCAL IMPACT:

Amendment No.4 will increase the total TUMF currently available to the City for Palomar Street from $3,261,517 to an amount of $5,361,517. No budget adjustments are needed as this amendment does not change the Project cost and only makes additional funding available to the City to cover previous and on-going expenditures.

ATTACHMENTS:

A - Amendment No. 4
324
Project #12-SW-WIL-1058

AMENDMENT NO. 4 TO TRANSPORTATION UNIFORM MITIGATION

FEE PROGRAM AGREEMENT

PALOMAR ROAD (MISSION TRAIL TO JEFFERSON)

PLANNING, ENGINEERING, RIGHT OF WAY AND CONSTRUCTION PHASE

This Amendment No. 4 to Transportation Uniform Mitigation Fee Program Agreement (“Amendment No. 4”) is entered into this ______ day of _______________, 2026, by and between the WESTERN RIVERSIDE COUNCIL OF GOVERNMENTS (“WRCOG”) and CITY OF WILDOMAR (“AGENCY”). WRCOG and the AGENCY are sometimes referred to individually as “Party” and collectively as “Parties.”

RECITALS
A. WRCOG and AGENCY have entered in to an agreement titled “ Transportation Uniform Mitigation Fee Program Agreement” that is dated October 1, 2012 (“Agreement”). The Agreement provides the terms and conditions, scope of work, schedule and funding amount for the construction of the Palomar Road Widening (hereinafter the “Project”).

B. WRCOG and AGENCY have entered into an amendment to the Agreement titled “Amendment No. 1 to Transportation Uniform Mitigation Fee Program Agreement” that is dated May 7, 2018 (“Amendment No. 1”) and “Amendment No. 2 to Transportation Uniform Mitigation Fee Program Agreement” that is dated October 14, 2020 (“Amendment No. 2”) and Amendment No. 3 to Transportation Uniform Mitigation Fee Program Agreement” that is dated October 13, 2021 (“Amendment No. 3”)
C. The Parties desire to amend the Agreement, as previously amended, by revising the 325
Project #12-SW-WIL-1058

funding amount pursuant to Sections 6 and 33 of the Agreement.

D. Funds are being increased for this Project because design and right of way costs have increased and based on recent construction bids received estimated project construction costs have increased significantly.

AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants and subject to the conditions contained herein, the Parties hereby agree as follows:

1. The Funding Amount contained in Section 2 of the Agreement as previously amended is hereby increased by two million one hundred thousand dollars ($2,100,000) from three million two hundred sixty-one thousand five hundred seventeen dollars ($ 3,261,517) to an amount not to exceed five million three hundred sixty-one thousand five hundred and seventeen dollars ($5,361,517).

2. The foregoing increase in the Funding Amount is within the Maximum TUMF Share.

3. AGENCY’s Local Match Contribution . AGENCY funding is not required, as shown in Exhibit “A” attached hereto.

4. Exhibits “A”, “A -1”, and “A -2” of the Agreement as previously amended are hereby replaced in their entirety by Exhibits “A”, “A -1”, and “A -2” of this Amendment No. 4, which are attached hereto and incorporated by reference.

5. The above-stated Recitals are hereby fully incorporated into this Amendment No. 326
Project #12-SW-WIL-1058

4. 6. Except to the extent specifically modified or amended hereunder, all of the terms, covenants and conditions of the Agreement as amended, shall remain in full force and effect between the Parties hereto.

IN WITNESS WHEREOF, the Parties have caused this Amendment No. 4 to be executed by their duly authorized representatives to be effective on the day and year first written above.

WESTERN RIVERSIDE COUNCIL CITY OF WILDOMAR

OF GOVERNMENTS

By: ______________________________ By: ______________________________ Chris Gray, Deputy Executive Director Chris Mann, City Manager

Approved to Form: Approved to Form:

By: ______________________________ By: ______________________________ Steven C. DeBaun Tom Jex, City Attorney
General Council

Attest:

By: ______________________________
Janet Morales Garcia, City Clerk
327
Project #12-SW-WIL-1058

Exhibit A

SCOPE OF SERVICES
SCOPE OF WORK: Palomar Road Widening includes widening of Palomar Street from Mission Trail to Jefferson Avenue. This project will widen Palomar Street to City of Wildomar General Plan width of four lanes plus a center left turn lane from Mission Trail to the Wildomar and Murrieta City limit at Jefferson Avenue. The project includes turn lanes and traffic signals at major intersections. The project will acquire the right of necessary for the General Plan width of four lanes.

A detailed scope of work for the current project phases is as follows:

Project Approval/Environmental Document (PA&ED):

Prepare necessary technical studies. Complete alternatives analysis and prepare and circulate environmental document. Obtain approval of project and environmental document from necessary legislative bodies.

Plans, Specifications, and Estimates (PS&E):

Develop topographic maps from aerial photogrammetry and ground surveys. Locate existing utilities and coordinate preparation of relocation/protection plans with utility companies.

Conduct subsurface geotechnical investigations and analysis. Perform hydrology/hydraulic studies and traffic analyses. Design and prepare the construction Plans, Specifications, and Estimate.
328
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Right of Way (ROW)
Right of way acquisition including appraisals, negotiations, document preparation and value payments for both permanent and temporary right of way required for construction of the project.

Construction
Advertise for construction bids, evaluate bids, award a construction contract and complete construction in conformance with the approved construction documents.

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EXHIBIT “A-1”

ESTIMATE OF COST

Phase TUMF LOCAL TOTAL
PA&ED $331,292 $0 $331,292
PS&E $560,940 $0 $560,940
RIGHT OF WAY $1,160,110 $0 $1,160,110
CONSTRUCTION $3,309,175 $0 $3,309,175
TOTAL $5,361,517 $0 $5,361,517
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EXHIBIT “A-2”

PROJECT SCHEDULE
TIMETABLE:

• Project Construction will be in several Phases. Three initial Phases are planned. Phase 1 is complete. Dates are Phase 2 & 3.

Phase
Estimated
Completion Date Estimated Cost Comments
PA&ED FY 25/26*
PS&E FY 27/28*
RIGHT OF WAY FY27/28*

CONSTRUCTION
FY 25/26 &
27/28*
TOTAL
331

CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.10

Meeting Date: April
8, 2026
SUBJECT:

Resolution Authorizing the Citys Participation in a National Opioid Litigation Settlement: In re: National Prescription Opiate Litigation, MDL No. 2804, Case No. 1:17-md-2804 (Multi- District Litigation)
SUBMITTED BY:

Thomas D Jex, City Attorney

ACTION:

Adopt a Resolution entitled:

RESOLUTION NO. 2026 - ____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR APPROVING THE CITY’S PARTICIPATION IN A NATIONAL LITIGATION SETTLEMENT WITH ASSOCIATED PHARMACIES, INC., AMERICAN ASSOCIATED PHARMACIES, J M SMITH

CORPORATION, LOUISIANA WHOLESALE DRUG COMPANY, MORRIS & DICKINSON CO., NORTH CAROLINA MUTUAL WHOLESALE DRUG COMPANY, INC., AND UNITED NATURAL FOODS, INC., AUTHORIZING THE CITY MANAGER TO TAKE ALL NECESSARY

ACTIONS FOR THE SETTLEMENT, DIRECTING PAYMENT OF SETTLEMENT FUNDS TO

RIVERSIDE COUNTY, AND APPROVING SUCH ACTIONS FOR FUTURE RELATED

SETTLEMENTS
DISCUSSION:

The United States has faced an ongoing public health crisis of opioid abuse, addiction, overdose, and death, forcing the State of California and California counties and cities to spend billions of dollars each year to address the direct consequences of this crisis. Since 2017, local governments and states have pursued litigation against manufacturers, distributors, and retailers of opioid pharmaceuticals to hold such parties financially responsible for the opioid epidemic’s impacts and generate resources to address the crisis.

The City Council has authorized the City’s participation in national opioid settlements. In 2022, the City Council approved the City’s participation in settlements involving multiple drug distributors and manufacturers. In 2023, the City Council authorized the City’s participation in settlements concerning multiple manufacturers and retailers/pharmacies. In 2024, the City Council authorized the City’s participation in a settlement with a large national grocer, Kroger Co. Most recently, in 2025, the City Council authorized the City’s participation in settlements concerning additional manufacturers, including Purdue Pharma L.P.

The various settlements have been similarly administrated, with local jurisdictions, like Wildomar, receiving a percentage of funds set forth in the Settlement’s allocation plan. While this Settlement does not include the State of California, Riverside County (“County”) is an eligible subdivision. As such, the City may determine whether to receive and program the 332
funds directly or to direct the funds to the County for County-wide programming of the settlement funds. The funds may only be programmed for limited uses pertinent to opioid remediation, and reporting requirements for fund expenditures apply.

Here, staff recommends the City’s participation in an additional opioid-related litigation settlement. Namely, a tentative settlement was reached in the matter of, In re: National Prescription Opiate Litigation, MDL No. 2804, Case No. 1:17-md-2804 (Multi-District Litigation) (the “Settlement”) concerning six opioid distributors/dispensers: Associated Pharmacies, Inc. (and American Associated Pharmacies), J M Smith Corporation, Louisiana Wholesale Drug Company, Morris & Dickinson Co., North Carolina Mutual Wholesale Durg Company, Inc., and United Natural Foods, Inc. (collectively, the “Defendants”).

The Settlement is structured like prior opioid-litigation settlements and is not tied to any bankruptcy matter. It contemplates the Defendants’ payment of a total of approximately $97,625,000.00, in the form of one-time settlement payments to participating subdivisions. The deadline for the City to opt into the Settlement is May 4, 2026.

Despite not being a party to the tentative settlement, the City may opt-into the Settlement if it accepts the settlement terms and releases claims against the Defendants. The proposed Resolution will approve the City’s participation in the Settlement and authorize the City Manager to take all action necessary to facilitate participation in the settlements and direct payment to the County for its programming related to abating the opioid crisis.

Additionally, in light of the repeated nature of opioid settlements, the proposed Resolution will further authorize the City Manager to approve, take all actions necessary to facilitate the City’s participation in, and direct the payment of funds to the County for any future directly-related settlements that are substantially similar in nature to this Settlement, as determined by the City Attorney.

FISCAL IMPACT:

The City’s participation in the Settlement will facilitate its receipt of Settlement funds at a – percentage of 0.0008331438%. However, the proposed Resolution would direct Wildomar’s allocation to the County for its expenditure and reporting of the settlement funds to assist with addressing and ameliorating the opioid crisis.

ATTACHMENTS:

1. Resolution
333

RESOLUTION NO. 2026 - ____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR APPROVING THE CITY’S PARTICIPATION IN A NATIONAL
LITIGATION SETTLEMENT WITH ASSOCIATED PHARMACIES, INC.,

AMERICAN ASSOCIATED PHARMACIES, J M SMITH CORPORATION,

LOUISIANA WHOLESALE DRUG COMPANY, MORRIS & DICKINSON
CO., NORTH CAROLINA MUTUAL WHOLESALE DRUG COMPANY,
INC., AND UNITED NATURAL FOODS, INC., AUTHORIZING THE CITY

MANAGER T O TAKE ALL NECESSARY ACTIONS FOR THE

SETTLEMENT, DIRECTING PAYMENT OF SETTLEMENT FUNDS TO

RIVERSIDE COUNTY , AND APPROVING SUCH ACTIONS FOR

FUTURE RELATED SETTLEMENTS

WHEREAS, the United States has faced an ongoing public health crisis of opioid abuse, addiction, overdose, and death , forcing the State of California and California counties and cities to spend billions of dollars each year to address the direct consequences of this crisis; and

WHEREAS, since 2017, local governments and states have pursued litigation against manufacturers, distributors, and retailers of opioid pharmaceuticals to hold such parties financially responsible for the opioid epidemic’s impacts and generate resources to address the crisis; and

WHEREAS, on or about February 23, 2026, a tentative settlement was reached in the matter of, In re: National Prescription Opiate Litigation, MDL No. 2804, Case No. 1:17- md-2804 (Multi -District Litigation) (the “Settlement”) concerning six opioid distributors/dispensers: Associated Pharmacies , Inc. (and American Associated Pharmacies), J M Smith Corporation , Louisiana Wholesale Drug Company , Morris & Dickinson Co., North Carolina Mutual Wholesale Durg Company, Inc., and United Natural Foods, Inc. (collectively, the “Defendants”); and

WHEREAS, the Settlement contemplates a total of approximately $97,625,000.00, in the form of one-time settlement payments to participating subdivisions , consisting of roughly equal payments from each of the Defendants; and

WHEREAS, although the City is not a party to this litigation, it may opt into the Settlement and receive its benefits in exchange for releasing its claims against the Defendants; and

WHEREAS, opting into the settlement would allow the City to receive, or to transfer to Riverside County (the “County”), funds from the Settlement, which can be used to treat opioid use disorder and for related purposes; and

WHEREAS, jurisdictions must opt into the Settlement before May 4, 2026; and 334

WHEREAS, the intent of this Resolution is to approve the City’s participation and opt-in into the Settlement, direct the Settlement funds to the County, and authorize the City Manager to take necessary actions to facilitate the City’s participation in the Settlement.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF WILDOMAR RESOLVES AS FOLLOWS:

Section 1: Findings. The City Council of the City of Wildomar finds the foregoing recitals are true and correct, and they are hereby incorporated by reference into this Resolution.

Section 2: Approval of Settlement. The City Council hereby:

A. Approves the Settlement with the Defendants; and
B. Authorizes the City Manager to take all actions necessary to facilitate the City’s participation in the Settlement and direct the payment of Settlement funds to the County, including, without limitation, the execution of agreements or other ancillary settlement documents.

Section 3: Approval of Related Settlements. The City Council hereby authorizes the City Manager to approve, take all actions necessary to facilitate the City’s participation in, and direct the payment of funds to the County for any future directly- related settlements that are substantially similar in nature to this Settlement, as determined by the City Attorney.

Section 4: Ratification. All actions heretofore taken by the City Council and other appropriate public officers and agents of the City with respect to the matters contemplated under this Resolution are hereby ratified, confirmed and approved.

Section 5: Severability. If any term, provision, or portion of these findings or the application of these findings to a particular situation is held by a court to be invalid, void or unenforceable, the remaining provisions of these findings, or their application to other actions related to this resolution shall continue in full force and effect unless amended or modified by the City.

Section 6: Effective Date. This Resolution will become effective immediately upon adoption and will remain effective unless repealed or superseded.

335

PASSED, APPROVED, AND ADOPTED this 8th day of April, 2026.

______________________________
Carlos Marquez
Mayor

APPROVED AS TO FORM: ATTEST:

______________________________ ______________________________ Thomas D. Jex Janet Morales Garcia, CMC
City Attorney City Clerk

336

CITY OF WILDOMAR

CITY COUNCIL REGULAR MEETING

CONSENT CALENDAR
Agenda Staff Report # 1.11

Meeting Date: April
8, 2026
SUBJECT:

Parcel Map No. 36612 (Westpark Promenade) Subdivision
Improvement Agreement
SUBMITTED BY:

Jason Farag, Public Works Director/City Engineer
PREPARED BY:

Carlos Geronimo, Principal Engineer

ACTION:

1. Authorize the City Manager to execute a Subdivision Improvement Agreement with Tri Pointe Homes IE-SD, Inc. for Parcel Map 36612 (Westpark Promenade)

2. Authorize the Public Works Director/City Engineer to release all the securities associated with the prior Subdivision Improvement Agreement between the City and CRP/CWR Westpark Project, LLC
SUMMARY:

Approval a new Subdivision Improvement Agreement for Parcel Map No. 36612, also known as the Westpark Promenade development project.

BACKGROUND:

On December 14, 2016, Plot Plan No. 13-0082 was approved to develop the Westpark Promenade Mixed-Use project (Project) consisting of a 118,354 square foot commercial retail center (Parcel 1 of PM 36612) and 191 single family attached dwelling units (Parcels 2 and 3 of PM 36612 with related on-site/off-site improvements and amenities. Tentative Parcel Map No. 36612 (TPM 36612) was also approved by the City Council on December 14, 2016, for the same Project. The tentative parcel map was to subdivide the 27.68 acre site into three parcels. The Westpark Promenade project also includes two tentative tract maps - Tentative Tract Map No. 36781 (TTM 36781) for 124 single family attached units and Tentative Tract Map No. 36782 (TTM No. 36782) for 67 single family attached units.

On December 11, 2024, the Final Map for TPM 36612 and a Subdivision Improvement Agreement (SIA) between the City and CRP/CWR Westpark Project, LLC was approved by City Council. An aerial image of the project site and the surrounding area is provided in Attachment A.

On February 24, 2026, the City was informed of a change of ownership from CRP/CWR to Tri Pointe Homes IE-SD for the residential parcels of the project (TTM 36781 and TTM 36782).

The Commercial parcel remains under the ownership of Golden Eagle – Westpark Promenade, LLC.

Tri Pointe Homes is currently going through the Substantial Conformance process with the City’s Planning Department as they propose to make modifications to the existing entitled 337
plans.

DISCUSSION:

Tri-Pointe Homes IE-SD (Developer), as the new owner of the residential parcels, needs to enter into a new SIA with the City to replace the agreement made with the previous owner and secure the incomplete public improvements that are required of the project.

The SIA identifies the subdivider’s obligations to complete the Project’s improvements and sets forth policies and procedures for the Developer and the City to ensure that the improvements are completed. The Agreement also provides the City with bonds/securities should the Developer fail to fulfill their obligations.

Staff recommends that the City Council authorize the City Manager to execute a Subdivision Improvement Agreement with Tri Pointe Homes IE-SD, Inc. for Parcel Map 36612 (Westpark Promenade) and that the City Council authorize the Public Works Director/City Engineer to release all the securities associated with the prior Subdivision Improvement Agreement for PM 36612 between the City and CRP/CWR Westpark Project, LLC.

FISCAL IMPACT:

There are no fiscal impacts to the City at this time. All costs related to this project are currently covered by Developer fees. When the project is constructed, the City will be responsible for the maintenance of the public improvements after acceptance by the City Council. The project is already annexed into the Community Facilities District (CFD) Services to offset some of the City’s maintenance costs. There is no impact to the General Fund.

ATTACHMENTS:

A - Aerial Map
B - Subdivision Improvement Agreement
338

ATTACHMENT A
Aerial Image of
Westpark Project
(highlighted in yellow)
339
RIV #4833 -9648 -5472 v2

RECORDED AT THE REQUEST OF
AND WHEN RECORDED RETURN TO:
(Document exempt from recording fees
pursuant to Cal. Gov. Code § 27383)

CITY OF WILDOMAR
Attn: City Clerk
23873 Clinton Keith Rd., Suite 110
Wildomar, California 92595
THIS SPACE FOR RECORDER’S USE ONLY

SUBDIVISION IMPROVEMENT AGREEMENT
FINAL PARCEL MAP 36612
By and Between

THE CITY OF WILDOMAR,
a municipal corporation
and
Tri Pointe Homes IE-SD, Inc.
a California corporation
DATED APRIL 8 th, 2026
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- 1 -

SUBDIVISION IMPROVEMENT AGREEMENT
FINAL PARCEL MAP 36612
This Subdivision Improvement Agreement (“Agreement”) is entered into as of this 8th day of April 2026 by and between the City of Wildomar, a municipal corporation (“City”) and Tri Pointe Homes IE-SD, Inc. a California corporation (“Developer”). City and Developer are sometimes hereinafter individually referred to as “Party” and hereinafter collectively referred to as the “Parties.”

RECITALS
A. Developer owns portions of Parcel Map No. 36612 approved on December 11, 2024 located within City, a legal description of which is attached hereto as Exhibit “A”.

B. Developer has not completed all of the work or made all of the Public Improvements
required by the Sub division Map Act (Government Code sections 66410 et seq.), (“Map Act”) the City Or dinances, the conditions of approval for Parcel Map No. 36612, or other ordinances, resolutions, or policies of City requiring construction of improvements in conjunction with the subdivision of land.

C. Pursuant to City Ordinances and the applicable provisions of the Map Act, Developer and City enter into this Agreement for the timely construction and completion of the Public Improvements an d the furnishing of the security therefore, acceptable to the City Engineer and City Attorney, for Parcel Map No. 36612.

D. City has authority to enter into this Subdivision Improvement Agreement pursuant to Government Code Sections 66499 – 66499.10.

E. Pursuant to Government Code Section 66499, Developer’s execution of this Agreement and the provision of the security are made in consideration of City’s approval of t he final map for Parcel Map No. 36612.

DEFINED TERMS
“Developer” shall mean Tri Pointe Homes IE-SD Inc., a California corporation. The term “Developer” shall also include all assignees, to the extent permitte d under this Agreement, of the rights and obligations of Developer under this Agreement, and any successor-i n-interest to Developer having a legal and/or equitable interest in the Property. “Estimated Costs” shall mean the City Engineer’s approximation of the actual cost to construct the Public Improvements, including the replacement cost for all landscaping. 341
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- 2 -
“Litigation Expenses” shall mean all costs and expenses, to the extent reasonable in amount, actually and necessarily incurred by a party in good faith in the prosecution of an action or proceeding, including, but not limited to, court costs, filing, recording, and service fees, copying costs, exhibit production costs, special media rental costs, attorneys’ fees, fees for investigators, witness fees (both lay and expert), travel expenses, deposition and transcript costs and any other cost or expense, the award of which a court of competent jurisdiction may determine to be just and reasonable.
“Map Act” shall mean the Subdivision Map Act, Government Code Sections 66410 et seq. “Property” shall mean the all of the real property contained within the boundaries of Parcel Map No. 36612 located in the City of Wildomar, California, as is more particularly d escribed in the legal description and tract diagram attached hereto and incorporated hereby by reference at Exhibit “A”.
“Public Improvements” shall include, but not be limited to, all grading, roads, streets, paving, curbs an d gutters, sidewalks, paseos, pathways, trails, sanitary sewers, utilities, storm drains, detention and retention basins an d other drainage facilities, traffic controls, lan dscaping, stre et lights and all other facilities required to be constructed and dedicated to the City or other public entity as conditions of approval of Final Parcel Map No. 36612 and as shown in detail on the plans, and specifications which have been approved by the City and incorporated into Parcel Map No. 36612. The Parties agree that the Public Improvements to be completed by Developer are more specifically described in the diagram or plan attached hereto and incorporated herein by reference as Exhibit “B. Notwithstanding, Exhibit “B”, Developer shall remain obligated to construct and complete all of the Public Improvements required as conditions of approval for Final Parcel Map 36612.
“Required Insurance” shall mea n the insurance required t o be maintained by Developer und er Section 17.
“Security” shall mea n surety bonds, lien agreement or other securit y approved by the City Engineer or City Attorney in the amounts and under the terms of Section 12. “Parcel Map No
36612.” shall mean the final map prepared and approved by the City for Tentative Parcel Map no. 36612.
“Warranty” shall mean the one year period following completion of the Public Improvements by Developer and the acceptance of the Public Improvements by the City in which Developer warrants and guarantees all Public Improvements.

OPERATIVE PROVISIONS
NOW, THEREFORE, in consideration of the mutual promises and covenants made by the parties and contained here and other consideration, the value and adequacy of which are hereby acknowledged, the parties agree as follows:

1. EFFECTIVENESS. This Agreement shall not be effective unless and until all three (3) of the following conditions are satisfied in the order provided:
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- 3 -

1.1 Security. Developer provides City with the Security of the type and in the amounts required by this Agreement;

1.2 Agreement Approval. The City Council of the City (“City Council”) approves and this Agreement;

1.3 Record Agreement. Developer and City execute the Agreement and City records this Agreement in the Recorder’s Office of the County of Riverside.

If the above described conditions are not satisfied in the order, manner and within the time provided under this Agreement, this Agreement shall automatically terminate without need of further action by either City or Developer.

2. PUBLIC IMPROVEMENTS. Developer shall construct or have constructed at its own cost, expense, and liability the Public Improvements, as defined herein, within the time and in the manner required under this Agreement. Construction of the Public Improvements shall include any transitions and/or other incidental work deemed necessary for drainage or public safety. The Developer shall be responsible for the replacement, relocation, or removal of any component of any irrigation water or sewer system in conflict with the construction or installation of the Public Improvements. Such replacement, relocation, or removal shall be performed to the complete satisfaction of the City Engineer and the owner of such water or sewer system.

Developer further promises and agrees to provide all equipment, tools, materials, labor, tests, design work, and engineering services necessary or required by City to fully and adequately complete the Public Improvements.

2.1 Prior Partial Construction of Public Improvements. Where construction of any Public Improvements has been partially completed prior to this Agreement, Developer agrees to complete such Public Improvements or assure their completion in accordance with this Agreement.

2.2 Permits; Notices; Utility Statements. Prior to commencing any work, Developer shall, at its sole cost, expense, and liability, obtain all necessary permits and approvals and give all necessary and incidental notices required for the lawful construction of the Public Improvements and performance of Developer’s obligations under this Agreement.

Developer shall conduct the work in full compliance with the regulations, rules, and other requirements contained in any permit or approval issued to Developer. Prior to commencing any work, Developer shall file a written statement with the City Clerk and the City Engineer, signed by Developer and each utility which will provide utility service to the Property, attesting that Developer has made all deposits legally required by the utility for the extension and provision of utility service to the Property.

2.3 Pre-approval of Plans and Specifications. Developer is prohibited from commencing work on any Public Improvement until all plans and specifications for such Public Improvement have been submitted to and approved by the City Engineer, or his or her designee.

Approval by the City Engineer shall not relieve Developer from ensuring that all Public Improvements conform with all other requirements and standards set forth in this Agreement. 343
344
345
346
347
348
349
350
351
352
353
354
355
356
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RIV #4833-9648-5472 v2 1 SUBDIVISION IMPROVEMENT AGREEMENT EXHIBIT “A”

LEGAL DESCRIPTION OF PROPERTY
PARCEL MAP NO. 36612
Real property in the City of Wildomar, County of Riverside, State of California, described as follows:

Pursuant to Certificate of Parcel Merger No. 378, recorded July 24, 1987 as Instrument No. 214102, Official Records, said land is described as follows:

That portion of the Southeast quarter of fractional Section 36, Township 6 South, Range 4 West, San Bernardino Base and Meridian, in the unincorporated territory of the County of Riverside, State of California, described as follows:

Beginning at the Southeast corner of Section 36, thence Westerly along the South line of said Section line and centerline of Catt Road, South 88° 48' 45" West 1532.29 feet to the Southeasterly terminus of "Course B" as described in Deed to the State of California recorded March 26, 1954 in Book 1569, Page 396 of Official Records; thence leaving said Southerly line, North 38° 55' 30" West 37.94 feet to the Northerly line of Catt Road and the true Point of Beginning; thence North 68° 20' 12" West 101.82 feet; thence North 38° 55' 30" West 1083.73 feet; thence North 35° 55' 15" West 100.24 feet; thence North 38° 55' 30" West 349.96 feet to a point on the North line of the Southwest quarter of the Southeast quarter of said fractional Section 36; thence Easterly along said Northerly line, North 88° 45' 13" East 1283.75 feet to the Northeast corner of the Southwest quarter of the Southeast quarter; thence Easterly along the Northerly line of the Southeast quarter of the Southeast quarter, North 88° 45' 13" East 150.00 feet; thence leaving said Northerly line, South 01° 09' 02" East 1292.78 feet to the Northerly line of Catt Road; thence continuing along the Northerly line of said Catt Road South 88° 48' 45" West 376.95 feet to the true Point of Beginning.

Excepting therefrom one-half of all oil, gas and other hydrocarbon substances and minerals below a depth of 500 feet from the surface, but without the right to enter upon or use the surface of said real property, as reserved by Sidney Snyder, et al., in Deed recorded December 19, 1958 in Book 2383, Page 250, Official Records, Riverside County Records.

A Notice of Intent to preserve mineral rights pursuant to Section 883.230 California Civil Code was recorded January 23, 1985 as Instrument No. 14390, Official Records.

Also excepting therefrom that portion conveyed to the City of Wildomar, a Municipal Corporation by Deed recorded on January 19, 2011 as Instrument No. 2011-0028332, of Official Records.

APN: 376-410-013, 376-410-023 and 376-410-025
358

RIV #4833 -9648 -5472 v2
1 SUBDIVISION IMPROVEMENT AGREEMENT

EXHIBIT “B”

LIST OF PUBLIC IMPROVEMENTS
PARCEL MAP NO. 36612

359
360
361
362
363
364
365
366
367
368
City of Wildomar
Monument Security Estimate Worksheet
Parcel Map/Tract Map No: PM 36612 Date: 2/11/2026
PP, CU, PU, MS OR VL No: TPM 36612 City Project No:

Map Schedule: E
Cost per Day
10-hour Day
Cost per
Monument
$2,500.00* $300
$342
$400
$478
Cost per Day
10-hour Day
Cost per
Monument
$2,500.00* $600
$685
$800
$960
Notes:
91 $300
Subtotal 1 (Total Monuments x Cost per Monument): $ 27,300.00 Engineer's/Surveryor's Estimate for Preparing Centerline Tie-Sheets: $7,600 Subtotal 2 (Subtotal 1 + Centerline Tie-Sheet Estimate): $ 34,900.00 Total Security Amount (Subtotal 2 x 120%): $ 42,000.00 2/11/2026
Signature Date
Philip J. LeGrand
Name (type or printed)
8,812 3/31/2027
RCE/PLS No. Expiration Date
Engineer's/Surveyor's Stamp
(total rounded to the nearest $500)
Net Work Time Hours per Day
7 9
Schedule "A" through "H" Maps
Drive Time
Hours to Map

0.5 1 8

1.5 2 6
6 7
8 Schedule "I" Maps
Drive Time
Hours to Map Net Work Time Hours per Day

0.5 9
Cost Per Monument:

Total Monuments to Be Bonded
1 1.5
2 *Based on a crew of one Registered Principal Engineering Technician and one Senior Engineering Technician
Insert Project Name - Insert Project No.
369
RIV #4833-9648-5472 v2 1 SUBDIVISION IMPROVEMENT AGREEMENT EXHIBIT “C”

SURETY BONDS AND OTHER SECURITY
PARCEL MAP NO. 36612
As evidence of understanding the provisions contained in this Agreement, and of the Developer’s intent to comply with same, the Developer has submitted the below described security in the amounts required by this Agreement, and has affixed the appropriate signatures thereto:

PERFORMANCE BOND PRINCIPAL AMOUNT: $ 2,555.000.00
Surety:

Attorney-in-fact:

Address:

MATERIAL AND LABOR BOND PRINCIPAL AMOUNT: $ 1,277,500.00 Surety:

Attorney-in-fact:

Address:

CASH MONUMENT SECURITY: $ 42,000.00
Amount deposited per Cash Receipt No. Date:

MONUMENT BOND PRINCIPAL AMOUNT: $
Surety:

Attorney-in-fact:

Address:
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RIV #4833-9648-5472 v2 1 SUBDIVISION IMPROVEMENT AGREEMENT EXHIBIT “D”

LIST OF PARCEL MAP CONDITIONS

OF APPROVAL NOT SATISFIED
382
ATTACHMENT A – EXHIBIT 1

WESTPARK PROMENADE MIXED-USE PROJECT - CONDITIONS OF APPROVAL Project No.: TENTATIVE PARCEL MAP NO. 36612
Applicant: Cal West Communities - APN: 376-410-013; 376-410-023; 376-410-025 Original City Council Approval Date - December 14, 2016 EOT #1 Approval Date – Oct. 2, 2019
EOT #2 Approval Date – February 2, 2022
EOT #3 Approval Date – October 2, 2024
Original Expiration Date – Dec. 14, 2019
TPM No. 36612 New Expiration Date – Dec. 14, 2022
TPM No. 36612 New Expiration Date – Dec. 14, 2024
TPM No. 36612 Final Expiration Date – Dec. 14, 2025
Conditions of Approval
Timing/
Implementation
Enforcement/
Monitoring
Verification
(Date and
Signature)

PLANNING DEPARTMENT CONDITIONS
General Requirements / Standard Conditions (these conditions apply to all phases)

1. In compliance with Section 15094 of the CEQA Guidelines, a Notice of Determination (NOD) shall be filed with the Riverside County Clerk within five (5) working days of project approval by the City Council. The notice shall include the required California Department of Fish and Wildlife (Fish and Game Code Section 711.4.d.3) fee, and the Riverside County Clerk administrative fee (paid by the Applicant) in the amount of $3,120.00. Failure to pay the required fee will result in the project being deemed null a nd void (California Fish and Game Code Section 711.4(c)). The above fee is broken down as follows:
a. California Department of Fish and Wildlife = $3,070.00 b. Riverside County Clerk Administrative Fee = $50.00
December 21, 2016 Planning Department

2. The Applicant shall review, and sign below verifying the “Acceptance of the Revised /Updated Conditions of Approval” and return the signed page to the Wildomar Planning Department within two weeks of the Planning Commission approval.

Applicant Signature Date
October 16, 2024 Planning Department

383
ATTACHMENT A – EXHIBIT 1

WESTPARK PROMENADE MIXED-USE PROJECT - CONDITIONS OF APPROVAL Project No.: TENTATIVE PARCEL MAP NO. 36612
Applicant: Cal West Communities - APN: 376-410-013; 376-410-023; 376-410-025 Original City Council Approval Date - December 14, 2016 EOT #1 Approval Date – Oct. 2, 2019
EOT #2 Approval Date – February 2, 2022
EOT #3 Approval Date – October 2, 2024
Original Expiration Date – Dec. 14, 2019
TPM No. 36612 New Expiration Date – Dec. 14, 2022
TPM No. 36612 New Expiration Date – Dec. 14, 2024
TPM No. 36612 Final Expiration Date – Dec. 14, 2025
Conditions of Approval
Timing/
Implementation
Enforcement/
Monitoring
Verification
(Date and
Signature)

3. The Applicant shall indemnify, protect, defend, and hold harmless, the City, and/or any of its officials, officers, employees, agents, departments, agencies, and instrumentalities thereof, from any and all claims, demands, law suits, writs of mandamus, and other actions and proceedings (whether legal, equitable, declaratory, administrative or adjudicatory in nature), and alternative dispute resolutions procedures (including, but not limited to arbitrations, mediations, and other such procedures), (collectiv ely “Actions”), brought against the City, and/or any of its officials, officers, employees, agents, departments, agencies, and instrumentalities thereof, that challenge, attack, or seek to modify, set aside, void, or annul, the any action of, or any permit or approval issued by, the City and/or any of its officials, officers, employees, agents, departments, agencies, and instrumentalities thereof (including actions approved by the voters of the City), for or concerning the project, whether such Actions are brought under the California Environmental Quality Act, the Planning and Zoning Law, the Subdivision Map Act, Code of Civil Procedure Section 1085 or 1094.5, or any other state, federal, or local statute, law, ordinance, rule, regulation, or any decision of a court of competent jurisdiction. City shall promptly notify the Applicant of any Action brought and request that Applicant defend the City. It is expressly agreed that Applicant may select legal counsel providing the Applicant’s defense and the City shall have the right to approve separate legal counsel providing the City’s defense. The Applicant shall reimburse City for any attorneys’ fees, costs and expenses directly and necessarily incurred by the City in the course of the defense. Applicant agrees that City will forward monthly invoices to Ongoing Planning Department

384
ATTACHMENT A – EXHIBIT 1

WESTPARK PROMENADE MIXED-USE PROJECT - CONDITIONS OF APPROVAL Project No.: TENTATIVE PARCEL MAP NO. 36612
Applicant: Cal West Communities - APN: 376-410-013; 376-410-023; 376-410-025 Original City Council Approval Date - December 14, 2016 EOT #1 Approval Date – Oct. 2, 2019
EOT #2 Approval Date – February 2, 2022
EOT #3 Approval Date – October 2, 2024
Original Expiration Date – Dec. 14, 2019
TPM No. 36612 New Expiration Date – Dec. 14, 2022
TPM No. 36612 New Expiration Date – Dec. 14, 2024
TPM No. 36612 Final Expiration Date – Dec. 14, 2025
Conditions of Approval
Timing/
Implementation
Enforcement/
Monitoring
Verification
(Date and
Signature)

Applicant for attorneys’ fees, costs and expenses it has incurred related to its defense of any Action and Applicant agrees to timely payment within thirty (30) days of receipt of the invoice. Within fourteen (14) days of an Action being filed, Applicant agrees to post adequate security or a cash deposit with City in an amount to cover the City’s estimated attorneys’ fees, costs and expenses incurred by City in the course of the defense in order to ensure timely payment of the City’s invoices.

The amount of the security or cash deposit shall be determined by the City. City shall cooperate with Applicant in the defense of any Action.

4. Approval of Extension of Time # 3 for Tentative Parcel Map No. 36612 shall expire on December 14, 2025 if the final map has not been approved by the City Council and recorded with the Riverside County Clerk. If TPM No. 36612 is not recorded by the new expiration date, the tentative map becomes null and void.

December 14, 2025 Planning Department

5. TTM No. 36612 shall not become effective until 30 days after the second reading of the Ordinance approving Change of Zone No. 13- 0082 by the City Council. No final map, grading or building permits shall be issued until after the effective date of the Change of Zone.

February 11, 2017 Planning Department

6. In accordance with Section 66020.d.1 of the Government Code, the Applicant has 90 days from project approval to file a protest of the imposition of fees, dedications, reservations, or other exactions being imposed on this project. Notice is hereby given to the Applicant that the 90-day appeal hereby begins with approval of this project.

March 14, 2017 Planning Department

385
ATTACHMENT A – EXHIBIT 1

WESTPARK PROMENADE MIXED-USE PROJECT - CONDITIONS OF APPROVAL Project No.: TENTATIVE PARCEL MAP NO. 36612
Applicant: Cal West Communities - APN: 376-410-013; 376-410-023; 376-410-025 Original City Council Approval Date - December 14, 2016 EOT #1 Approval Date – Oct. 2, 2019
EOT #2 Approval Date – February 2, 2022
EOT #3 Approval Date – October 2, 2024
Original Expiration Date – Dec. 14, 2019
TPM No. 36612 New Expiration Date – Dec. 14, 2022
TPM No. 36612 New Expiration Date – Dec. 14, 2024
TPM No. 36612 Final Expiration Date – Dec. 14, 2025
Conditions of Approval
Timing/
Implementation
Enforcement/
Monitoring
Verification
(Date and
Signature)

7. Within 60 days of approval of the Westpark Promenade Mixed -Use Development Project (Planning Application No. 13- 0082) by the City Council, the Applicant shall pay any outstanding deposit account balances. Failure to pay the outstanding balance by the due date may result in delays in the submittal of final map, grading plans, improvement plans and/or building/construction plans.

February 14, 2017 Planning Department

8. Applicant hereby understands and agrees that failure to comply with all Conditions of Approval may result in the Planning Commission taking action resulting in a modification to the Conditions of Approval and/or suspension or revocation of the plot plan and/or conditional use permit.

On-Going Planning Department

9. The project shall be subdivided in accordance with the Tentative Parcel Map 36612 approved by the City Council on December 14, 2016 The Applicant may request a minor change/revision to the approved Parcel map, if needed, in accordance with Sections 16.12.210 and/or

16.12.220 of the Wildomar Municipal Code. TPM No. 36612 consists of three planning areas (Parcel 1: Commercial Retail and Parcels 2 and 3:

Single-Family Condominium areas) with related on- site/off-site improvements and amenities. Each Parcel within the approved plot plan will be developed in accordance with the applicable conditions herein. Final Maps may be filed in phases related to each Parcel or as units or groups of units .

The Applicant shall implement, to the
satisfaction of the Planning Director, all applicable environmental impact mitigation measures identified in the project's EIR , CEQA Ongoing Planning Department

386
ATTACHMENT A – EXHIBIT 1

WESTPARK PROMENADE MIXED-USE PROJECT - CONDITIONS OF APPROVAL Project No.: TENTATIVE PARCEL MAP NO. 36612
Applicant: Cal West Communities - APN: 376-410-013; 376-410-023; 376-410-025 Original City Council Approval Date - December 14, 2016 EOT #1 Approval Date – Oct. 2, 2019
EOT #2 Approval Date – February 2, 2022
EOT #3 Approval Date – October 2, 2024
Original Expiration Date – Dec. 14, 2019
TPM No. 36612 New Expiration Date – Dec. 14, 2022
TPM No. 36612 New Expiration Date – Dec. 14, 2024
TPM No. 36612 Final Expiration Date – Dec. 14, 2025
Conditions of Approval
Timing/
Implementation
Enforcement/
Monitoring
Verification
(Date and
Signature)

Findings and Mitigation Monitoring and Reporting Program with each final map.

10. The proposed Project shall comply with existing SCAQMD rules for the reduction of fugitive dust emissions in accordance with SCAQMD Rule 403.

On-Going Planning Dept.

CEQA / Environmental Impact Report (EIR) Mitigation Measures: (these mitigation measures apply to all phases) Air Quality Resources

11. AQ-1: The applicant, in coordination with the City, shall cooperate with local transit agencies to determine bus routing in the project area that can accommodate bus stop(s) at the project access points. The project shall provide bus passenger benches and shelters at any approved locations.

Prior to issuance of
building permit
City Planning and
Building and Safety
Departments

12. AQ-2: The project applicant shall provide preferred parking for low - emitting and fuel efficient vehicles. The number and location of preferred parking spaces must be identified by the project proponent and be approved by the City of Wildomar prior to issuance of building permits.

Prior to issuance of
building permit
City Planning and
Building and Safety
Departments

13. AQ-3: The project applicant shall provide secure bicycle racks. The number and location of bicycle racks must be identified by the project proponent and be approved by the City of Wildomar prior to issuance of building permits.

Prior to issuance of
building permit
City Planning and
Building and Safety
Departments

387
ATTACHMENT A – EXHIBIT 1

WESTPARK PROMENADE MIXED-USE PROJECT - CONDITIONS OF APPROVAL Project No.: TENTATIVE PARCEL MAP NO. 36612
Applicant: Cal West Communities - APN: 376-410-013; 376-410-023; 376-410-025 Original City Council Approval Date - December 14, 2016 EOT #1 Approval Date – Oct. 2, 2019
EOT #2 Approval Date – February 2, 2022
EOT #3 Approval Date – October 2, 2024
Original Expiration Date – Dec. 14, 2019
TPM No. 36612 New Expiration Date – Dec. 14, 2022
TPM No. 36612 New Expiration Date – Dec. 14, 2024
TPM No. 36612 Final Expiration Date – Dec. 14, 2025
Conditions of Approval
Timing/
Implementation
Enforcement/
Monitoring
Verification
(Date and
Signature)

Biological Resources

14. BIO-1: Per the Burrowing Owl Survey Instructions for the MSHCP and MSHCP Species -Specific Objective 6, preconstruction
presence/absence surveys for burrowing owl within suitable habitat areas of the project site, shall be conducted within 30 days prior to disturbance. Take of active nests shall be avoided. Passive relocation (use of one-way doors and collapse of burrows) shall occur when owls are present outside the nesting season. If construction is delayed or suspended for more than 30 days after the survey, the area shall be resurveyed.

Surveys shall be completed for occupied burrowing owl burrows within all construction areas and within 500 feet (150 meters) of the project work areas (where possible and appropriate based on habitat). All occupied burrows will be mapped on an aerial photo.
30 days prior to the
start of ground
disturbing activities
City Planning
Department

15. BIO-2: If burrowing owls are identified during the 30- day preconstruction survey, the applicant shall take the following actions to offset impacts prior to ground disturbance:

Active nests and paired owls exhibiting breeding activities within the areas scheduled for disturbance or degradation shall be avoided from February 1 through August 31, and a minimum 250-meter buffer shall be provided until fledging has occurred. Following fledging, owls may be passively relocated by a qualified biologist.

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