Agenda packet — Yountville City Council, December 5, 2023 (part 1 of 2)

Town of Yountville
6550 Yount Street
Yountville, CA 94599
Meeting Packet
Tuesday, December 5, 2023
3:00 PM
Town Hall Council Chambers
Town Council
Mayor Margie Mohler
Vice Mayor Eric Knight
Council Member Hillery Bolt Trippe
Council Member Robin McKeeCant
Council Member Pam Reeves
The Town of Yountville is committed to complying with the Americans with Disabilities Act (ADA) and other similar federal and state laws in all respects. If, as an attendee or participant in this meeting, or in meetings on a regular basis, you will need special assistance beyond what is provided, the Town will provide reasonable accommodations for you. Individuals who need auxiliary aids or services for effective communication or participation in programs and services of the Town of Yountville are invited to make their needs and preferences known by contacting the Town Clerk at (707) 9448851 at least 72 hours prior to the meeting. This notice is available in accessible alternate formats from the ADA Coordinator.

MEETING SCHEDULE AND HOW TO VIEW AGENDA
Meeting Schedule and Location: The Town Council meets on the first and third Tuesday of the month at 3:00 and services of the Town of Yountville are invited to make their needs and preferences known by contacting the Town Clerk at (707) 9448851 at least 72 hours prior to the meeting. This notice is available in accessible alternate formats from the ADA Coordinator.

MEETING SCHEDULE AND HOW TO VIEW AGENDA
Meeting Schedule and Location: The Town Council meets on the first and third Tuesday of the month at 3:00 p.m. in Town Council Chambers, located at 6550 Yount Street, Yountville, California, 94599.

How to View the Agenda: The Agenda and associated staff reports may be viewed online by visiting the Town’s website at www.townofyountville.com/meetings and clicking on HTML Agenda.

How to Watch the Meeting: The Town Council and other Town Legislative Bodies’ meetings can be watched live in three different ways:

On the Town’s Streaming Media Player at www.townofyountville.com/livevideo.

On the Town’s YouTube Channel at www.townofyountville.com/youtube.

On local cable TV Channel 28.

PROVIDING PUBLIC COMMENT
Members of the public are welcome to attend the Town Council meetings to provide public comment in person.

Members of the public may also submit public comment online via the Town’s public comment email address [email protected]. Please include “COMMENT TO COUNCIL” in the subject line. Any written testimony submitted by 4:00 p.m. the Monday before the meeting will be shared with the Council Members electronically and will be added to the record. Any Public Comment received after the 4:00 p.m. deadline will be added to the record after the Town Council meeting has concluded.

HOW TO APPEAL
A person who is dissatisfied with a decision of the Town Council may have the right to a review of the decision by a Court. California Code of Civil Procedure Section 1094.5 and 1094.6 generally limits the time within which a decision of the Town Council may be judicially challenged. If a person challenges a decision in Court, he or she may be limited to raising only those issues raised at the Public Meeting described in this notice, or in written correspondence delivered to the Town Council at or before the Public Meeting.

1. CALL TO ORDER; CONVENE REGULAR MEETING 3:00 P.M.

2. ROLL CALL

3. PLEDGE OF ALLEGIANCE

4. ADOPTION OF AGENDA

5. COUNCIL MEMBER ANNOUNCEMENTS

6. PROCLAMATIONS AND RECOGNITIONS
A. 2023 Paid Holiday Closure Proclamation
B. Certificate of Appreciation – Eddy Gomez, Town Clerk

7. NONAGENDA PUBLIC COMMENT
Members of the public are entitled to speak for 5 minutes per speaker on matters of municipal concern not on the agenda, during consideration of that portion of the meeting agenda entitled “Public Comment” when the Mayor calls that item.

However, the Mayor has the discretion to limit speaking time when it is reasonable under the circumstances, including when there are many items on the agenda or a high volume of members of the public who intend to speak. The Mayor also has the discretion to extend the time to speak. The Mayor shall limit or extend speaking time in a consistent manner that is not based on the content or viewpoint of the speech. The Council may; however, briefly respond to statements made or questions posed by the public, ask for clarification from staff, refer the matter to staff, request staff to report back on the matter, or request staff to place the matter on a future agenda. ygyg
written correspondence delivered to the Town Council at or before the Public Meeting.

1. CALL TO ORDER; CONVENE REGULAR MEETING 3:00 P.M.

2. ROLL CALL

3. PLEDGE OF ALLEGIANCE

4. ADOPTION OF AGENDA

5. COUNCIL MEMBER ANNOUNCEMENTS

6. PROCLAMATIONS AND RECOGNITIONS
A. 2023 Paid Holiday Closure Proclamation
B. Certificate of Appreciation – Eddy Gomez, Town Clerk

Members of the public may also submit Public Comment on matters of municipal concern not on the agenda via email at [email protected].

8. CONSENT CALENDAR
A. Second Reading and Adoption of Ordinance Number 23525, an Ordinance of the Town Council of the Town of Yountville, Reclassifying the Finance Director/Treasurer position to Administrative Services Director and updating the Yountville Municipal Code to reflect the reclassification.

B. Adopt Resolution Number 234241 Authorizing the Town’s Measure T updated 5Year Plan and Certification of the Town’s Continued Maintenance of Effort and Equivalent Funds.

C. Adopt Resolution Number 234242 as a Resolution of Support for the Napa Valley Transportation Authority (NVTA) Vision Zero Plan.

D. Adopt Resolution Number 234243 Approving a $4,483 budget adjustment utilizing available fund balance in Fund 23 Public Art Program Fee Fund Contract Services (2354144210) to accommodate artist stipends for additional Art Walk sculptures.

E. Continue the Emergency Declaration for the Town of Yountville Recycled Water Transmission Main Repair pursuant to Yountville Municipal Code 3.32.390.

F. Receive and file the Final Fiscal Year 2022/2023 Financial Report.

G. Approve Minutes of the regular meetings held on November 7, 2023 and November 21, 2023 and the two special meetings held on November 7, 2023 (Closed Session and Study Session).

9. GUEST PRESENTATIONS
A. Presentation of the Annual Comprehensive Financial Report (ACFR) for Fiscal Year Ended June 30, 2023 by Sheldon Chavan, CPA, Town Auditor.

B. Presentation by Shayne Kavanagh of the Government Finance Officers Association (GFOA) regarding the Town of Yountville RiskBased Analysis of General Fund Reserves.

10. PUBLICHEARINGS
A. Presentation of the Annual Comprehensive Financial Report (ACFR) for Fiscal Year Ended June 30, 2023 by Sheldon Chavan, CPA, Town Auditor.

B. Presentation by Shayne Kavanagh of the Government Finance Officers Association (GFOA) regarding the Town of Yountville RiskBased Analysis of General Fund Reserves.

10. PUBLIC HEARINGS
A. Consider Approving Amendment to the Town of Yountville’s Zoning Map, Repeal and Replace Sections 17.08.010 and 17.184.040 of Title 17 of the Yountville Municipal Code (YMC) to Incorporate the Updated Zoning Map by Reference and Clarify the Town Council’s Authority to Act on Proposed Zoning Map Amendments, and Find the Amendments Exempt from the California Environmental Quality Act.

11. ADMINISTRATIVE / REGULAR ITEMS NONE

12. STAFF PRESENTATIONS AND INFORMATIONAL REPORTS
A. Emergency Preparedness Events Report

13. COUNCIL EXTERNAL MEETING REPORTS

14. ADJOURNMENT
Adjourn to the Town Council Regular Meeting Tuesday, January 16, 2024 at 3:00 p.m. being held in Town Council Chambers located at 6550 Yount St.

I certify that a copy of this Town Council Agenda was posted at a location freelyaccessible to the public at Yountville Town Hall, 6550 Yount Street within the Town of Yountville, the Friday before the meeting. /s/Eddy Gomez, Town Clerk

PROCLAMATION
Recognizing Yountville Town Employees
Through Paid Holiday Closure in 2023
WHEREAS, during the November 21, 2023 Yountville Town Council meeting, the Town Council approved the closure of Town offices to the public during the Winter Holiday Break on December 27, 28, and 29, 2023; and
WHEREAS, the Town Council wishes to express gratitude and thanks for the Town employees’ hard work and dedication to the community throughout the year, and therefore would like to provide paid holiday closure days for benefitted Town employees scheduled to work during the Winter Holiday Break as a holiday thank you to staff.

NOW, THEREFORE LET IT BE RESOLVED, that I, Margie Mohler, Mayor, on behalf of the Town Council and our community, express our sincere appreciation to Town staff for their excellent work this year, and their dedicated service to the residents of Yountville; and

1. the Town will close Town offices during its Winter Holiday Break on December 27, 28, and 29, 2023; and

2. the Town will pay benefitted employees scheduled to work on those days; and

3. benefitted employees who must work during the Winter Holiday Break, as determined by their Department Head, will receive pay for the holiday closure date in addition to pay for any hours worked; and

4. the paid holiday closure days are not “holidays,” “personal days,” or “vacation days,” and do not vest with the employees receiving this benefit; and

5. benefitted employees scheduled to work during the Town’s Winter Holiday Break shall use the paid holiday closure days only on December 27, 28, and 29, 2023.

Margie A. Mohler, Mayor
Dated: December 5, 2023

IN RECOGNITION OF
Eddy Gomez
Town Clerk
The Town Council and staff express a sincere thank you for your contributions and service to the Town of Yountville, first as Management Fellow, then as Management Analyst and finally as Town Clerk from
January 2018 – December 2023

CERTIFICATE OF APPRECIATION
Mayor Margie Mohler
December 5, 2023
Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 8A
Yountville Town Council Staff Report
DATE: December 5, 2023
TO: Mayor and Town Council
FROM: Eddy Gomez, Town Clerk
PREPARED BY: Eddy Gomez, Town Clerk

RECOMMENDATION
Second Reading and Adoption of Ordinance Number 23-525, an Ordinance of the Town Council of the Town of Yountville, Reclassifying the Finance Director/Treasurer position to Administrative Services Director and updating the Yountville Municipal Code to reflect the reclassification.

DISCUSSION/BACKGROUND
At the November 21, 2023 Town Council meeting, the Council introduced and held a first reading of this Ordinance. This is the second reading and, if adopted, the Ordinance will take effect in 30 days. The Ordinance adds section 2.28.050 to the Town’s Municipal Code, which would clarify that all references in the code to “Finance Director/Treasurer,” “Finance Director,” and/or “Treasurer” also mean “Administrative Services Director.” Section 2.28.050 would also clarify that the Administrative Services Director exercises all powers and duties of the Finance Director/Treasurer.

ENVIRONMENTAL REVIEW
Exempt per California Environmental Act (CEQA) Guideline, Section 15061(b)(3)

FISCAL IMPACT
Is there a Fiscal Impact? No
Is it Currently Budgeted? N/A
Where is it Budgeted? N/A
Is it Mandatory or Discretionary? Mandatory
Is there a Staff Resource Impact? Nominal

STRATEGIC PLAN GOAL
Is item Identified in Strategic Plan? Yes
If yes, Identify Strategic Goal and Objective. Visionary Leadership: The Town's leadership maintains an openminded, forward-thinking decision-making process. We value engagement and participation from all members of the community as we work together to create policies and plan for the future.

Briefly Explain Relationship to Strategic Plan Goal and Objective. By updating the Yountville Municipal Code, the quality of life of Yountville residents and businesses will be maintained.

Town of Yountville
Ordinance Number 23-525

AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF YOUNTVILLE

RECLASSIFYING THE FINANCE DIRECTOR/TREASURER POSITION TO ADMINISTRATIVE SERVICES DIRECTOR AND UPDATING THE TOWN’S

MUNICIPAL CODE TO REFLECT THE RECLASSIFICATION
WHEREAS, Yountville Municipal Code section 2.28.010 establishes the office of Finance Director/Treasurer and Yountville Municipal Code section 2.28.020 establishes the powers and duties of the office of Finance Director/Treasurer; and WHEREAS, pursuant to Yountville Municipal Code Section 2.08.030, the Town Manager may recommend to the Town Council reorganization of officers, departments or divisions as may be indicated in the interests of the efficient, effective and economical conduct of the Town’s business; and pursuant to Yountville Personnel Rules and Policies Section 6.G.1., the Town Manager oversees the Classification Plan for all Town employees and shall make recommendations to the Town Council from time to time when changes are deemed necessary; and
WHEREAS, the Town Manager has reviewed the current Finance Director/Treasurer position and determined that reclassification to Administrative Services Director is appropriate; and
WHEREAS, the Town Council now wishes to amend the Yountville Municipal Code to implement this change.

Now, therefore, the Town Council of the Town of Yountville does ordain as follows:

SECTION 1. CODE AMENDMENT: Yountville Municipal Code section 2.28.050 is hereby added to read as follows:

2.28.050 Administrative Services Director
All references in this code to “Finance Director/Treasurer,” “Finance Director,” and/or “Treasurer,” shall also mean “Administrative Services Director.” The Administrative Services Director shall exercise all powers and duties of these positions enumerated in this code and/or in policies, resolutions, or procedures adopted by the Town Council.

SECTION 2. CEQA: The Town Council has considered all of the evidence in the record, including the staff reports, the testimony received during the meeting on the matter held by the Town Council, and hereby determines that this Ordinance is exempt from review under the California Environmental Quality Act (CEQA). Pursuant to section 15061(b)(3) of the CEQA Guidelines, CEQA applies only to projects which have the potential for causing a significant effect on the environment. This Ordinance will not result in a Ordinance Number 23-525
significant foreseeable environmental impact.

SECTION 3. SEVERABILITY: If any section, subsection, sentence, clause, phrase, or portion of this Ordinance is for any reason held to be invalid or unconstitutional by the final decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this Ordinance. The Town Council declares that it would have adopted this Ordinance, and each section, subsection, sentence, clause, phrase or portion thereof, irrespective of the fact that any one or more sections, subsections, phrases or portions might be declared invalid or unconstitutional.

SECTION 4. EFFECTIVE DATE: This Ordinance shall take effect 30 days after final adoption.

SECTION 5. CERTIFICATION: The Town Clerk shall certify to the passage and adoption of this Ordinance and shall give notice of its adoption as required by law.

Within 15 days from the date of passage of this ordinance, the Town Clerk shall post a copy of the ordinance in accordance with California Government Code in at least three public places in the Town.

INTRODUCED by the Town Council at a regular meeting held on the 21st day of November, 2023.

PASSED AND ADOPTED by the Town Council at a regular meeting held on the 5th day of December, 2023, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
__________________
Margie Mohler, Mayor
ATTEST:
_____________________
Eddy Gomez, Town Clerk
APPROVED AS TO FORM:
______________________
Gary B. Bell, Town Attorney
Ordinance Number 23-525
I, Eddy Gomez, TOWN CLERK of the Town of Yountville, California, do hereby certify that the foregoing was regularly introduced and placed upon its first reading at a regular meeting of the Town Council on the 21st day of November 2023. That thereafter said Ordinance was duly adopted and passed at a regular meeting of the Town Council on the 5th day of December 2023.
by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________
Eddy Gomez, Town Clerk
Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 8B
Yountville Town Council Staff Report
DATE: December 5, 2023
TO: Mayor and Town Council
FROM: John Ferons, Public Works Director
PREPARED BY: Rosalba Ramirez, Deputy Public Works Director

RECOMMENDATION
Adopt Resolution Number 23-4241 Authorizing the Town’s Measure T updated 5-Year Plan and Certification of the Town’s Continued Maintenance of Effort and Equivalent Funds.

DISCUSSION/BACKGROUND
On November 6, 2012, the voters of Napa County approved a ½-cent sales tax increase known as Measure T, the Napa Countywide Road Maintenance Act of 2012. The Measure T County-wide sales tax began July 1, 2018, implemented by the Napa Valley Transportation Authority – Taxing Authority (“NVTA-TA”), with the proceeds to be allocated among all local agencies within the County.

Measure T funding can only be used for maintenance, reconstruction, and/or rehabilitation of streets, roads, and transportation infrastructure within the public right-of-way including but not limited to sidewalks, curb and gutters, curb ramps, lighting, traffic signage, striping, local roadway drainage.

To continue to receive Measure T tax funds, the Town must, 1) adopt by resolution every two years a 5-year implementation plan, 2) certify by resolution that the Town’s existing street repair Maintenance of Effort (MOE) was met each year and 3) the Agencies (collectively) must demonstrate that at least six and sixty-seven onehundredths percent (6.67%) of the value of the allocations each year has been committed to Class I Bike lane project(s) identified in the adopted Countywide Bicycle Plan. Once adopted the resolutions are submitted to the Independent Taxpayer Oversight Committee (ITOC) for their review and approval.

The current plan as attached is a 5-year plan built using the same methods as those applied to the Town’s annual 5-year CIP. The goal of this plan is to address the streets with the lowest Pavement Condition Index (PCI) rating first. This will raise the overall quality of the streets throughout the Town. In developing the Plan staff took into consideration the following factors: recommendations from the Pavement Management Program Report, known utility deficiencies, and the anticipated funding from the Capital Improvement Program (CIP) Fund. Staff, along with our consulting engineers, have developed a plan to achieve the PCI of 83 in five years using the Measure T, RMRA (SB1), and CIP MOE contributions.

The attached 5-year plan is not an annual “construction schedule” per se; rather, it is a “5-year look ahead” of streets to be addressed in successive years based upon available funding. The result is a list of streets with various pavement treatments proposed over the next five years.

The Maintenance of Effort, MOE developed by the Town of Yountville to meet the requirements of Measure T, used Annual Streets Report to identify one-time expenses, not derived from General Funds and not Measure T relevant funds, to calculate a minimum Maintenance of Effort amount of $223,604 to be met each year. This is a one-time process that was calculated and approved by NVTA-TA in 2018 and established the Town’s MOE requirements for future years.

The Town has met the minimum MOE amount to date. The MOE for FY 21/22 was certified at 246,641. The MOE for FY 22/23 is shown at $253,867 which will meet the minimum MOE required.

The Town of Yountville completed the last programmed project for Class 1 Facility in fiscal year 2020/2021 that contributed to the collective 6.67% equivalent fund commitment. The Town currently has no Class 1 Facility projects to list on the 5-year Plan adopted for fiscal years 23/24 through 27/28. As projects emerge, the Town will list them on future 5-Year Plan updates
Public Work’s Measure T Team will continue to prepare plans, specifications and estimates and publicly bid the projects from the Measure T 5-Year Work Plan.

Staff respectfully requests the adoption of Resolution 23-4241Authorizing the Measure T updated 5-Year Plan and Certification of the Maintenance of Effort and Equivalent Funds Projects which staff will submit to the Independent Taxpayer Oversight Committee for review and approval.

ENVIRONMENTAL REVIEW
Categorically Exempt per California Environmental Quality Act (CEQA) Guideline; Class 2, Replacement or Reconstruction of Existing Facilities

FISCAL IMPACT
Is there a Fiscal Impact? Yes
Is it Currently Budgeted? Yes
Where is it Budgeted? 25-6000-5400 Annual Street Maintenance and Paving Program Is it Mandatory or Discretionary? Mandatory
Is there a Staff Resource Impact? Nominal

STRATEGIC PLAN GOAL
Is item Identified in Strategic Plan? Yes
If yes, Identify Strategic Goal and Objective. Quality of Life: The Town enhances the livability of Yountville by providing well-maintained public facilities, parks, trails, and quality programs and events. Responsible Fiscal Policy: The Town maintains its fiscal health through policies designed to maximize economic opportunities, manage expenses, and ensure prudent reserves.

Briefly Explain Relationship to Strategic Plan Goal and Objective. Using available tax measure funds to maintain the Town’s roads to the highest standard ensures the Town’s citizens enjoy well maintained infrastructure.

Following the Measure T fiscal processes to continue to receive the funds is responsible fiscal policy.

Town of Yountville
Resolution Number 23-4241

A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF YOUNTVILLE AUTHORIZING THE TOWN’S MEASURE T UPDATED 5-YEAR PLAN AND CERTIFICATION OF THE TOWN’S CONTINUED MAINTENANCE OF EFFORT AND EQUIVALENT FUNDS.

Recitals
A. The Measure T County-wide sales tax began on July 1, 2018, implemented by the Napa Valley Transportation Authority – Taxing Authority (“NVTA-TA”), with the proceeds to be allocated among all local agencies within the County.

B. Measure T funding can only be used for maintenance, reconstruction, and/or rehabilitation of streets, roads, and transportation infrastructure within the public right-of-way including but not limited to: sidewalks, curb and gutters, curb ramps, lighting, traffic signage, striping, local roadway drainage.

C. To continue to receive Measure T tax funds, the Town must, 1) adopt by resolution every two years a 5-year implementation plan 2) certify by resolution that the Town’s existing street repair Maintenance of Effort (MOE) was met each year and, 3) certify by resolution the Town’s Equivalent Fund.

D. The Town’s 5-year implementation plan is attached and was built using the same methods as those applied to the Town’s annual 5-year CIP with the goal of addressing the streets with the lowest Pavement Condition Index (PCI) rating first.

E. The Town’s Maintenance of Effort (MOE) is attached and indicates the Town has met the minimum MOE amount to date. The MOE for FY 21/22 was certified at 246,641. The MOE for FY 22/23 is shown at $253,867 which will meet the minimum MOE required.

F. The Town of Yountville shall determine and certify to NVTA-TA the annual spending towards qualifying Class I Bicycle Facilities, consistent with the criteria set forth in Section 3 B of Ordinance No. 2012-01, including a memorandum detailing the supporting financial documentation and the methodology utilized to calculate the total spending and funding source.

G. That amount set forth in Exhibit “C” will be deemed the “Equivalent Fund Spending for Class I Bicycle Facilities” of the Town of Yountville which must be maintained annually throughout the term of the Measure from the General Fund of the Town of Yountville.

H. Measure T project(s) will comply with the requirements under the California Environmental Quality Act (California Code Sections 21000 et seq.; as implemented through California Regulations Title 14, Chapter 3, Sections 15000 et seq.).

Now, therefore, the Town Council of the Town of Yountville does resolve as follows:

1. The Town Council hereby adopts the five-year project list as set forth in Exhibit “A,” and authorizes the Public Works Director to file the list with NVTA-TA.

2. The Town Council hereby adopts Maintenance of Effort amount as set forth in Exhibit “B” and authorizes the Public Works Director to file the amount with NVTA-TA.

Resolution Number 23-4241

3. The Town of Yountville hereby adopts the Equivalent Fund Class I Bicycle Facilities expenditures amount as set forth in Exhibit “C,” and authorizes the Public Works Director or designee to file the amount with NVTA-TA.

4. The Resolution is hereby adopted and becomes effective and in full force immediately upon adoption.

PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Yountville, State of California, held on this 5th day of December 2023 by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

__________________
Margie Mohler, Mayor
ATTEST:
_____________________
Eddy Gomez, Town Clerk
Rosalba
Ramirez Email: Phone: 707-944-8851
John Ferons Email: Phone: 707-944-8851
FY #1 23-24 FY #2 24-25 FY#3 25-26 FY#4 26-27 FY#5 27-28 FY 2007-08 $230,961 FY 2008-09 $249,366 FY 2009-10 $190,486 Total MOE: $210,415
Project # Fiscal Year Total Project
Cost
Measure T
Amount Federal Funds State Funds Other Local Funds Project Description Project Phase Location (intersection, mile marker, length of alignment) Is the Project
Included in the
Countywide
Transportation Plan?
Is the Project in
the Jurisdiction's
Capital
Improvement
Plan?
23525 24-25 $300,000 $300,000.00 $ - $ - $ - Digout and Microsurface, new striping Construction Yountville Cross-Yount St- Town Limits (Striping) NO YES
24-25 $187,635 $ 187,635 $ - $ - $ - 2" Grind, Overlay, and Striping Construction Washington St- Town limts to N/S Madison NO YES
24-25 $187,635 $ 187,635 $ - $ - $ - 2" Grind, Overlay, and Striping Construction Washington St- N/S Madison-N/S Hopper Creek Bridge NO YES
$675,270.00
24-25 $187,635 $ 187,635 $ - $ - $ - 2" Grind, Overlay, and Striping Construction Washington St- N/S Webber to N/S Yount NO YES
24-25 $187,635 $ 187,635 $ - $ - $ - 2" Grind, Overlay, and Striping Construction Washington St- N/S Hopper Creek Bridge to N/S Webber NO YES
25-26 $112,000 $ 112,000 $ - $ - $ - Digout and Microsurface Construction Jackson Street-Washington to Lincoln NO YES 25-26 $20,000 $ 20,000 $ - $ - $ - Digout and Microsurface Construction Starkey Ave - Jefferson to Yount NO YES 25-26 $20,000 $ 20,000 $ - $ - $ - Digout and Microsurface Construction Lande Way- Adams to Lande* NO YES 25-26 $20,000 $ 20,000 $ - $ - $ - Digout and Microsurface Construction Starkey Ave -Washington to Jefferson NO YES
$547,270.00
Jurisdiction Name:

3. Enter MOE Amounts Claiming:

4. Enter Certified MOE Amount:

Measure T Napa Countwide Road Maintenance Act
Town of Yountville
[email protected]
Please note: Eligible expenses include local streets and roads maintenance and supporting infrastructure within the public right of way for pavement, sealing, overlays, reconstruction, associated infrastructure, as required, excluding any local revenues expended for the pupose of storm damage repair as verified by an independent auditor. One time allocations that have been expended for local streets and road maintenance, but which may not be available on an ongoing basis shall not be considered when calculating an Agency's annual maintenance of effort.

Maintenance of Effort (MOE)
Fiscal Years Included:
[email protected]
Total FY 24-25
Total FY 25-26
Secondary Contact #2
Primary Contact #1
Please provide the following information to establish MOE amount and to validate information:

2. Attach independent auditors validation for each
Local Streets and Roads State Controller Report

1. Attach copies of Local Streets and Roads State
Controller Reports for three years - FY 2007-08, FY
2008-09, FY 2009-10
Planned Measure T Expenditures
Please provide Five (5) year planned streets and road maintenance projects beginning in FY 2023/2024 add rows as needed):
24506 26-27 $237,500 $237,500.00 $ - $ - Digout, Grind and Overlay Construction Solano Ave- 1670'SE of California Dr. to Town Limits NO YES
26-27 $237,500 $237,500.00 $ - $ - Digout, Grind and Overlay Construction Solano Ave-California to 1670'SE of California Dr. NO YES
$475,000.00
27-28 $62,500 $62,500.00 2" Grind, Overlay Construction Webber Ave-Vine Trail to Washington St. NO YES
27-28 $62,500 $62,500.00 2" Grind, Overlay Construction Webber Ave-Washington to Yount NO YES 27-28 $62,500 $62,500.00 $ - $ - $ - 2" Grind, Overlay, and Striping Construction Vineyard Circle- Vista at Vista Ct to Vista NO YES
27-28 $62,500 $62,500.00 $ - $ - $ - 2" Grind, Overlay, and Striping Construction Mulberry Street- Washington St to Dead end NO YES
27-28
$116,000
$116,000.00 $ - $ - $ - 2" Grind, Overlay, and Striping Construction Jefferson St- Cemetary to Madison NO YES 27-28 $48,000 $48,000.00 $ - $ - $ - 2" Grind, Overlay, and Striping Construction Vista Court-Vista to Dead End NO YES 27-28
$71,000
$71,000.00 $ - $ - $ - 2" Grind, Overlay, and Striping Construction Madison Street- HWY 29 ROW to to Washingtont NO YES
$485,000.00
28-29
$30,000
$30,000.00 $ - $ - $ - Microsurface Construction Finell Rd- Hopper Creek to Town Limits(Striping) NO YES
23524 28-29
$35,000
$35,000.00 $ - $ - $ - Digout and Microsurface Construction Heather Street-Mulberry to End NO YES 28-29
$150,000
$150,000.00 $ - $ - $ - Rehabilitation Construction California Dr.-Solano Ave to Washington St NO YES
$215,000.00
Project # Fiscal Year Total Project
Amount
Measure T
Amount Federal Funds State Funds Other Local Funds Project Description Project Phase
(Env, PS&E,
Construction)
Location (intersection, mile marker,
length of alignment)
Is the Project
Included in the
Countywide
Transportation Plan?
Is the Project in
the Jurisdiction's
Capital
Improvement
Plan?
The Town of Yountville completed a set of Class 1 Facility projectson the previous 5-Year Plan that contributed to the collective 6.67% equivalent fund commitment. The Town currently has no Class 1 Facility projects to list on this 5-Year Plan.

Currently, the Town of Yountville will schedule maintenance of the Vine Trail from the town limits on Solano Avenue to the town limits on Madison Street every year.

Note: The list will serve as the five-year list of projects required for submittal by each jurisdiction as stated in the Measure T Ordinance. These will be projects that will be delivered, depending on available revenues and when revenues become available. Prior to any allocation, jurisdictions will also be required to submit all of the necessary documentation requested as evidence of a public hearing to ensure that the members of the public were able to comment on the proposed project list as well as a Resolution in support of the proposed project list.

Note: The amount of a jurisdiction's annual bike expenditure must be a minimum of 6.67% of the anticipated revenue amount received from Measure T each year. Estimates by jurisdiction are shown on the table labeled "Measure T Revenue Estimates". Funding for Class 1 Multi-use path projects that are funded by philanthropy, state discretionary funding or federal discretionary funding shall not count as part of the 6.67 % expenditure obligation required to be eligible to receive Measure T revenues.

Comment: Please provide any additional information to explaing your project list. E.g. This project list is the jurisdiction's CIP, the jurisdiction opted to include additional projects to have flexibility in completing a variety of projects Please provide a five year multi-purpose Expenditures beginning in FY 2023/2024 (add rows as needed):

Equivalent Fund Class 1 Multi-Purpose Paths:

Total FY 26-27
Total FY 27-28
Total FY 28-29
NVTA-TA Approved MOE $ 223,604.00
MOE Amount Certified for FY 2022-23 $253,867.00
MOE Amount Certified for FY 2021-22 $246,641.00
MOE Amount Certified for FY 2020-21 $208,671
Measure T funds Received in FY 2022-23 $ 687,913.75
Measure T funds Expended in FY 2022-23 $ 354,278.84
Measure T funds Balance in Account $ 535,160.00
Measure T Maintenance of Effort (MOE) Certification
for Fiscal Year 2023-24
City/County/Town of Yountville
Fund 2020/2021 Actual 2021/2022 Actual 2022/2023 Budget 2022/2023 Estimated 2023/2024 Adopted (4010) Salaries - Full Time $136,432 $131,926 $145,389 $145,389 $149,417.00 (4012) Overtime $2,610.00 $5,697.00 $7,000.00 $7,000.00 $8,500.00 (4013) Medicare & Fica $1,809.00 $1,883.00 $2,108.00 $2,108.00 $2,167.00 (4030) Deferred Compensation $8,106.00 $8,349.00 $10,046.00 $10,046.00 $10,065.00 (4031) Payment-In Lieu Health $0.00 $451.00 $450.00 $450.00 $450.00 (4040) Health Insurance $28,529.00 $29,279.00 $36,026.00 $36,026.00 $38,796.00 (4042) Dental Insurance $2,615.00 $2,526.00 $2,958.00 $2,958.00 $2,836.00 (4043) Vision Insurance $0.00 $109.00 $715.00 $715.00 $688.00 (4044) Life/Disability Insurance $1,323.00 $1,379.00 $1,505.00 $1,505.00 $2,150.00 (4053) Other Employee Reimbursement $0.00 $133.00 $1,099.00 $1,099.00 $1,066.00 (4020) Pers Employer Rate $15,555.00 $14,834.00 $17,147.00 $17,147.00 $20,357.00 (4049) Allocated OPEB - Payment to Trust $0.00 $0.00 $7,176.00 $7,176.00 $3,595.00 (4819) Allocated Liability Insurance $7,076.00 $8,563.00 $10,941.00 $9,901.00 $9,873.00 (4839) Allocated Wrkrs Comp Insurance $4,616.00 $3,933.00 $4,081.00 $3,933.00 $3,907.00 Total $208,671 $209,062 $246,641 $245,453 $253,867
$253,867.00

EXHIBIT B

TOWN OF YOUNTVILLE MAINTENANCE OF EFFORT

PUBLIC WORKS-STREET MAINTENANCE
Maintenance of Effort for FY 2023/2024
Project
Number Project Name Location
Segment
Length Project Description Funding Source Total Cost Start Date Estimated
Completion
Date Notes
19702 Finnell Path Finnell to Yount St 875 feet Replace General Fund 123,725.00 $ May 2020 May 2020 complete 20703
Finnell Multi- Use
Path Phase II
Hopper Creek Path from Hopper
Creek Condos to Yount Street 900 feet
Replace asphalt path with
concrete General Fund 130,024.00 $ April 2020 July 2020 complete 20705 Oak Circle Path Oak Circle To Mission 455 feet Mulit Use Path Constrcution General Fund $ 324,830.70 July 2014 June 2021 complete 20707 Vine Trail Bike Path Town Limits to Madison 1.8 miles Crack and Slurry Seal/
Concrete remove and replace GF/Vinetrail $ 18,705.00 April 2020 april 2023 complete 20701 Vine Trail Bike Path Town Limits to Madison 1.8 miles Crack and Slurry Seal/
Concrete remove and replace GF/Vinetrail $ 35,000.00 April 2020 april 2023 complete Town of Yountville Exhibit C
Measure T Equivalent Funds Certification for Program Years 2023-2028 The Town of Yountville completed a set of Class 1 Facility projects shown on the previous 5-Year Plan that contributed to the collective 6.67% equivalent fund commitment. The Town currently has no Class 1 Facility projects to list on the 5 year Plan adopted for fiscal years 22/23 through 26/27. As projects emerge, the Town will list them on future 5-Year Plan updates.

Class I Facility (Equivalent Fund) Tracking
Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 8C
Yountville Town Council Staff Report
DATE: December 5, 2023
TO: Mayor and Town Council
FROM: John Ferons, Public Works Director
PREPARED BY: Rosalba Ramirez, Deputy Public Works Director

RECOMMENDATION
Adopt Resolution Number 23-4242 as a Resolution of Support for the Napa Valley Transportation Authority (NVTA) Vision Zero Plan.

DISCUSSION/BACKGROUND
The NVTA adopted a Vision Zero plan at their October 18, 2023 Board Meeting. Vision Zero is a transportation system strategy to eliminate fatal and severe injury crashes on roadways. To advance the goal of improving roadway safety for all transportation modes countywide, to align with regional and national best practices, and to support the requirement under multiple grant funding programs, NVTA with the assistance of its consultant, Fehr & Peers, developed a Countywide Vision Zero Plan. This data-driven and community-focused effort complemented recently completed Local Roadway Safety Plans (LRSP) by the County and Cities of Napa and American Canyon.

With the adoption of this Vision Zero Plan and Resolution, NVTA staff will begin coordination with member agencies to institutionalize the safety strategies identified in the plan.

NVTA is asking each of its member jurisdictions for a local resolution of support. This resolution is only for support of NVTA’s plan, the Town of Yountville is not adopting the plan itself. Visit the NVTA website to learn more about the Vision Zero Plan.

Staff recommends that the Town Council approve the resolution in support of the NVTA’s vision zero plan.

ENVIRONMENTAL REVIEW
Not Applicable

FISCAL IMPACT
Is there a Fiscal Impact? No
Is it Currently Budgeted? N/A
Where is it Budgeted? N/A
Is it Mandatory or Discretionary? Discretionary
Is there a Staff Resource Impact? Nominal

STRATEGIC PLAN GOAL
Is item Identified in Strategic Plan? Indirectly
If yes, Identify Strategic Goal and Objective. Quality of Life: The Town enhances the livability of Yountville by providing well-maintained public facilities, parks, and trails, and quality programs and events. Visionary Leadership: The Town's leadership maintains an open-minded, forward-thinking decision-making process. We value engagement and participation from all members of the community as we work together to create policies and plan for the future.

Briefly Explain Relationship to Strategic Plan Goal and Objective. By providing a resolution of support of this Vision Zero plan the Town is working towards visionary solutions to provide a safer community for the Town of Yountville residents.

Town of Yountville
Resolution Number 23-4242

A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF YOUNTVILLE

RESOLUTION OF SUPPORT FOR THE NAPA VALLEY TRANSPORTATION AUTHORITY (NVTA) VISION ZERO PLAN.

Recitals
A. In October 2023, the Napa Valley Transportation Authority (NVTA) board adopted a Vision Zero plan. Vision Zero is a transportation system strategy to eliminate fatal and severe injury crashes on roadways.

B. NVTA requested for a local resolution of support from each jurisdiction.

C. This resolution is only in support of NVTA’s Vision Zero Plan. The Town of Yountville will not adopt the plan for the town.

Now, therefore, the Town Council of the Town of Yountville does resolve as follows:

1. Approve and adopt the resolution of support for the NVTA Vision Zero Plan

3. The Resolution is hereby adopted and becomes effective and in full force immediately upon adoption.

PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Yountville, State of California, held on this 5thh day of December 2023 by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

__________________
Margie Mohler, Mayor
ATTEST:

Eddy Gomez; Town Clerk
Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 8D
Yountville Town Council Staff Report
DATE: December 5, 2023
TO: Mayor and Town Council
FROM: Samantha Holland, Parks & Recreation Director
PREPARED BY: Samantha Holland, Parks & Recreation Director

RECOMMENDATION
Adopt Resolution Number 23-4243 Approving a $4,483 budget adjustment utilizing available fund balance in Fund 23 Public Art Program Fee Fund Contract Services (23-5414-4210) to accommodate artist stipends for additional Art Walk sculptures.

DISCUSSION/BACKGROUND
The Yountville Art Walk has 36 sculpture sites of which 23 are on a two-year rotation schedule. After a slow down of new artwork application over the past three years, the Yountville Art Walk has quite a few expired or extended term sculptures. The late summer and early fall of 2023 has been busy with new sculpture applications and interest along with the Commission approving to extend reimbursement for rising shipping and transportation costs up to $1,000 to encourage artist participation.

Yountville Arts budgeted to place 6 new sculptures in Fiscal Year (FY) 2023/24 totaling an expense for artist stipends of $15,000 plus $2,500 in other contract expenses for a total of $17,500 in Fund 23 – The restricted Public Art Program Fee Fund – Contract Services line item. (Fund 23 Total budget of $22,500). Yountville Arts has the opportunity to rotate additional timed out sculptures bringing in new art and as such staff is requesting a budget adjustment of $4,483. The current fund balance is $4,483.

Long term, the slowdown in Commercial Building Permits has also slowed the funding to the Public Art Program Fee Fund. In the budget process, staff discussed with the Arts Commission that in FY 2023-24 we may exhaust the funds available in fund 23. The Commission will vote to move funds from the Yountville Community Foundation Art Fund to fund 23 at their December 4, 2023 meeting to continue to adequately fund the Art Walk and a future budget adjustment will come forward to utilize those funds as needed.

The Town Council may also wish to consider additional funding for Fund 23 – The restricted Public Art Program Fee Fund in future budget and un-allocated fund balance discussions to provide for changing landscape of commercial building projects in Yountville from year to year.

ENVIRONMENTAL REVIEW
Not Applicable

FISCAL IMPACT
Is there a Fiscal Impact? Yes
Is it Currently Budgeted? No
Where is it Budgeted? N/A
Is it Mandatory or Discretionary? Mandatory
Is there a Staff Resource Impact? Nominal

STRATEGIC PLAN GOAL
Is item Identified in Strategic Plan? Yes
If yes, Identify Strategic Goal and Objective. Premier Destination: The Town values its residents, rich history, natural environment, culinary excellence, arts, and distinguished businesses that make our home a place people love. Quality of Life: The Town enhances the livability of Yountville by providing well-maintained public facilities, parks, and trails, and quality programs and events.

Briefly Explain Relationship to Strategic Plan Goal and Objective. By continuing to fund the Yountville Art Walk the Town Council supports the Art Walk and its contributions to the quality of life for residents and the experience for our visitors.

Town of Yountville
Resolution Number 23-4243

A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF YOUNTVILLE APPROVING A $4,483 BUDGET ADJUSTMENT UTILIZING AVAILABLE FUND BALANCE IN FUND 23 PUBLIC ART PROGRAM FEE FUND CONTRACT SERVICES (23-5414-4210) TO ACCOMMODATE ARTIST STIPENDS FOR ADDITIONAL ART WALK SCULPTURES.

Recitals
A. Whereas, the Yountville Art Walk has 36 sculpture sites of which 23 are on a two-year rotation schedule. After a slowdown of new artwork applications over the past three years, the Yountville Art Walk has quite a few expired or extended-term sculptures. The late summer and early fall of 2023 has been busy with new sculpture applications and interest along with the Commission's approving to extend reimbursement for rising shipping and transportation costs up to $1,000 to encourage artist participation.

B. Whereas, Yountville Arts budgeted to place 6 new sculptures in FY 2023/24 totaling an expense for artist stipends of $15,000 plus $2,500 in other contract expenses for a total of $17,500 in Fund 23 – The restricted Public Art Program Fee Fund – Contract Services line item. (Fund 23 Total budget of $22,500).

C. Whereas, Yountville Arts has the opportunity to rotate additional timed-out sculptures bringing in new art and as such staff is requesting a budget adjustment of $4,483. The current fund balance is $4,483.

Now therefore, the Town Council of the Town of Yountville does resolve as follows:

1. Approve a $4,483 budget adjustment utilizing available fund balance in Fund 23 Public Art Program Fee Fund Contract Services (23-5415-4210).

2. The Resolution is hereby adopted and becomes effective and in full force immediately upon adoption.

PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Yountville, State of California, held on this 5th day of December 2023 by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
__________________
Margie Mohler, Mayor
ATTEST:
_____________________
Eddy Gomez, Town Clerk
Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 8E
Yountville Town Council Staff Report
DATE: December 5, 2023
TO: Mayor and Town Council
FROM: John Ferons, Public Works Director
PREPARED BY: John Ferons, Public Works Director

RECOMMENDATION
Continue the Emergency Declaration for the Town of Yountville Recycled Water Transmission Main Repair pursuant to Yountville Municipal Code 3.32.390

DISCUSSION/BACKGROUND
Pursuant to Town of Yountville Municipal Code 3.32.390, Town Staff shall continue to make reports to Town Council at each regularly scheduled Town Council meeting until the emergency action is terminated by the Town Council. Town Council heard an Administrative Report at the February 21, 2023, Council meeting and determined the need to declare the emergency.

As a reminder, the Town owns and operates a Recycled Water Transmission Main that delivers treated wastewater to the golf course and various vineyard pond customers located on both the east and west sides of the Napa River. That transmission main is a 6-inch PVC pipe that traverses the floor of the Napa Valley from the treatment plant on the west side of the valley to various recycled water customers located on the east side of the valley. It was installed in 1977 and has been in continuous use since its inception. In one location the pipe crosses underneath the Napa River in a direct bury format, it is not installed within a casing pipe or encased in any protective concrete. It is at this location, underneath the Napa River, that a leak has been discovered.

Update:

1. The Town’s Monthly Self-Monitoring Reports reflect the Town’s compliance with no discharge to the Napa River as the temporary river crossing is successfully recycled water to the customers on the east side of the Napa River.

2. The project Geotechnical Engineer is preparing to mobilize to perform the seismic refraction testing to further the directional boring portion of the design work.

3. Town staff, the civil engineering consultant and environmental consulting firm continue design efforts on the preferred alignment.

4. Emergency status remains in place to help to assist and ensure all adequate funding sources are available.

ENVIRONMENTAL REVIEW
CEQA Cat Ex Class 1, Existing Facilities

FISCAL IMPACT
Is there a Fiscal Impact? No
Is it Currently Budgeted? Yes
Where is it Budgeted? WW-0042; 63-4518-5100; Recycled Water Transmission Main Repair Is it Mandatory or Discretionary? Mandatory
Is there a Staff Resource Impact? Nominal

STRATEGIC PLAN GOAL
Is item Identified in Strategic Plan? Yes
If yes, Identify Strategic Goal and Objective. Exceptional Town Services and Staff: The Town supports its talented staff who deliver high quality municipal programs and services while maintaining public infrastructure for the benefit of the community. Responsible Fiscal Policy: The Town maintains its fiscal health through policies designed to maximize economic opportunities, manage expenses, and ensure prudent reserves.

Briefly Explain Relationship to Strategic Plan Goal and Objective. The Town’s Recycled Water Program is critical infrastructure for the benefit of the community. The Recycled Water Transmission Main is necessary for the delivery of recycled water to our contract customers. A quick response facilitated by declaring an emergency is responsible fiscally because it reduces the time and cost associated with performing the repair which will reduce the Town’s exposure to any fines for regulatory non-compliance.

Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 8F
Yountville Town Council Staff Report
DATE: December 5, 2023
TO: Mayor and Town Council
FROM: Celia King, Administrative Services Director
PREPARED BY: Celia King, Administrative Services Director

RECOMMENDATION
Receive and file the Final Fiscal Year 2022/2023 Financial Report.

DISCUSSION/BACKGROUND
The Finance Department provides monthly financial reports to the Town Council. These reports show budgeted amounts, as well as year-to-date actuals for both revenues and expenditures for the Town’s major funds. The Town’s major funds include the General Fund, Capital Projects Fund, and Utility Enterprise Funds. The report also shows the variance, or difference, between budgeted amounts and actual activity along with a percentage of budget column which helps Town staff ensure that expenditures remain within budget targets.

The Preliminary Monthly Financial Report for June 2023 was presented to the Town Council at the August 1, 2023 Town Council meeting. Now that the annual audit is complete and all transactions and activities for the prior fiscal year have been recorded, staff presents this report as the Final Fiscal Year 2022/2023 Financial Report.

The Annual Comprehensive Financial Report (ACFR) was presented to the Town Council during the December 5, 2023 Town Council meeting. This report is supported by the ACFR.

The Town’s General Fund financial position remains stable as Transient Occupancy Tax (TOT), Sales Tax and Property Tax revenue collections in FY 2022/2023 were better than expected. Town staff managed operating expenditures and remained under budget which created savings that helped contribute to a healthy fund balance at the end of the fiscal year.

The Town will continue to exercise fiscal discipline and focus on the following guiding principles:
 Developing budgets that support the Town Council Strategic Plan.  Continued funding for and the prioritization of project funding when developing the Five-Year Capital Improvement Program.
 Updating Town Fees through the annual Master Fee Schedule process.  Continued debt service payments and funding allocations for emergency reserves, contingency reserves, revenue stabilization reserves, repair, and replacement funds, and leave payout reserve.  Preparing for pension and retirement costs by funding the annual determined contribution (ADC) for Other Post-Employment Benefits (OPEB) as calculated by the Town’s actuary and pursuing prudent investment options to help mitigate the CalPERS Unfunded Actuarial Accrued Liability and allocating for the Pension Rate Stabilization Plan (PRSP) Trust to prepare to cover fluctuations in PERS costs.

The General Fund revenues received for FY 2022/2023 totaled $14.8 million which was $2.2 million more than the estimated budget. Below is a brief overview of the major revenues and their performance.  Property Taxes – The budget for Property Tax revenue was $2,142,000. Actual revenue collections exceeded this budget amount by $485,411. Property Tax revenue includes excess ERAF (Educational Revenue Augmentation Fund). Napa County is one of three counties in the state for which ERAF (the property tax shift from counties, cities, and special districts to the schools) is “over funded,” according to state funding formulas. This results in a “refund” of the excess revenue back to the Town. The excess ERAF funds are subject to state approval and not included in the Town’s budget projections due to its variability. Property Tax revenue also includes Property Tax in-lieu (VLF).  Sales Tax – The original budget for Sales Tax revenue was $1,640,000. Actual revenue collections were $1,628,440 which is $11,560 or 0.07% less than anticipated.  Transient Occupancy Tax (TOT) - The Town, with 455 revenue generating hotel rooms, received a total of $8,750,591 in TOT which surpassed the originally budgeted amount of $7,500,000. Total collections exceeded the budget estimate by $1,250,591 or about 17%. The average occupancy rate for the year was 55%, down slightly from 47% in the prior fiscal year. Average room rates were $784, also down from $840 in 2021/2022. The Town is still awaiting a stabilization of TOT revenue collections and has conservatively estimated $7,775,000 in TOT revenue for Fiscal Year 2023/2024.  Other Revenues - Licenses & Permits, Fines & Forfeitures, Rents and Concessions and Parks and Recreation Fees all came in higher than anticipated. Investment Earnings have rebounded as LAIF investment rates have slowly risen, and actual revenue was $75,776 higher than the original budget.

Fiscal Year 2022/2023 expenditures (before transfers) totaled $9,749,263. The Town staff managed expenditures, which were lower than estimated budget by $991,021 or 9.2%. Transfers out of the General Fund totaled $7,132,933.

Below are the effects of Fiscal Year 2022/2023 revenue and expenditure activity on the General Fund Balance:

Beginning Balance on July 1, 2022 10,332,980
Plus, revenues and transfers in 14,858,282
Less expenditures and transfers out 16,882,196
Ending Balance on June 30, 2023 $ 8,309,066
On June 30, 2023, the total General Fund Balance was $8,309,066. This amount is used to fulfill all the originally adopted reserve allocations as outlined below, for the following fiscal year (2023/2024). This includes a new category of Nonspendable due to the implementation of Governmental Accounting Standards Board (GASB) Standard #87 regarding required recognition of certain lease agreements. The allocations are as follows:

Nonspendable 75,142
Committed for Insurance and Claims Retention 50,000
Assigned for Budget Contingencies 573,667
Assigned for Legal Contingencies 250,000
Assigned for Leave Buy Out 160,000
Assigned for Purchase Orders 200,000
Assigned for Workers Compensation 20,000
Assigned for Affordable Housing Opportunities 3,616,075 Total Allocations: $4,944,884
Applying the above adopted allocations leaves $3,364,182 as Unassigned Fund Balance. This is the result of revenues being higher than expected, lower than anticipated expenditures, and the changes in approved fund balance allocations from one fiscal year to the next. This amount will remain in General Fund Unassigned Fund Balance until the Town Council decides to reallocate it in the future.

Capital Projects Fund
The nature of a capital project may cause projects to span multiple fiscal years and therefore the expenditures shown in this report do not necessarily represent all final costs for each project. Though the financial report that accompanies this staff report reflects project budgets and expenditures from all project funds, the following analysis will be focused on Capital Projects Fund 50, which is primarily supported by General Fund revenue.

The Fiscal Year 2022/2023 budget for Capital Projects Fund (50) expenditures and transfers was $1,188,548 which includes project purchase orders that were carried forward from Fiscal Year 2021/2022. Total actual expenditures and transfers were $311,717 and $168,199 in purchase orders for unfinished projects were rolled over into Fiscal Year 2023/2024.

On June 30, 2023, the Capital Projects Fund balance was $1,827,920. After adding in projected revenues and subtracting out planned expenditures (including purchase order rollovers) for Fiscal Year 2023/2024, approximately $702,000 of fund balance is available for use towards future capital projects and as funding for potential grant application matching requirements.

Water Enterprise Funds
The Water Enterprise Funds continued to struggle with trying to manage the level of necessary costs; which include routine operations, water purchase, and capital expenditures; within the level of current revenue sources.

As a result, these funds have not yet been able to meet the reserve targets that were established upon adoption of the Water and Wastewater Utility Rate Study.

The Drought Water Reserve Fund (57) ended with a fund balance of $2,011,563. In Fiscal Year 2022/2023 Town Council approved the use of General Fund Unassigned Fund Balance to pay of the interfund loan from the Drought Water Reserve Fund to the Water Utility Capital Fund (60-4500) for the Emergency Washington Park Water Line Repair Project. This fund is now back to its full reserve balance of just over $2 million.

The Water Utility Capital Fund (60-4500) ended with a positive total fund balance of $3,406,694 and of this amount $364,772 is considered working capital, or in other words, funds available to use for projects. Working capital is calculated by reducing the total fund balance by capital asset values, funds assigned for debt service, and reserve targets.

Fund 60 revenues generated from System Replacement fees totaled $137,030 which exceeded budget projections by 4.8%. Water Utility Capital expenditures for projects were $136,488.

Fund 61, the aggregate of Water Operations and Distribution (61-4505) and Water Utility Purchases and Conservation (61-4507) ended with a positive fund balance of $380,803. Total revenues were $1,625,467 which fell short of the original budget amount by 1.8%. This is due to a required fiscal year end entry to recognize investments at fair value which reduced Interest Income to a negative amount. Routine operating and maintenance expenditures were $634,084. This is lower than the budget estimate by $131,234 or 17.1%. Water Purchases ended up being $747,706. This is $417,113 or 35.8%, lower than what was budgeted. The net of these revenues and expenditures resulted in an increase to fund balance of $243,678 which helped this fund increase its small positive fund balance. However, this fund was still unable to meet the reserve targets set by the Water and Wastewater Utility Rate Study, and it still did not have capacity to contribute to the Water Utility Capital Projects Fund 60 in Fiscal Year 2022/2023.

Wastewater Enterprise Funds
Fund 62, the aggregate of Wastewater Collection Operations (62-4510) and Wastewater Treatment Operations (62-4515) ended with a positive fund balance of $389,589. This fund was not able to meet the reserve targets as set by the Water and Wastewater Utility Rate Study.

Total revenues were $2,201,168 and fell short of budget expectations by 20.4%. Like the Water Operating Fund, this is mostly due to a required fiscal year end entry to recognize investments at fair value which reduced Interest Income to a negative amount. It is also because the expected revenue for treating Veterans Home wastewater was less than originally anticipated. Total expenditures including transfers out were $2,006,191 ending under budget by $785,841 or 28.1%. The net result of the revenue and expenditure activity is that fund balance increased by $194,977 in Fund 62.

The Wastewater Capital Recovery Fund (63-4518) ended with a positive working capital of $2,367,413. This amount is calculated by reducing the total fund balance by capital asset values, funds assigned for debt service repayment, and reserve targets as set by the Water and Wastewater Utility Rate Study.

Total revenues including interest and the transfer from the Wastewater Operating Fund (62) were $601,970,

49.4% below budget. This is due to planned contributions from the Wastewater Operating Fund 62 being reduced in anticipation of receiving less revenue for Veterans Home wastewater treatment than originally anticipated. Revenues generated from System Replacement Fees were $230,566.

Expenditures, which include project costs and routine debt service payments for the State Water Resources Control Board (SWRCB) loan were $333,504. Expenditures were 87.9% lower than the budgeted amount as the large Joint Treatment Plant Modernization project carried over into Fiscal Year 2023/2024. The Veterans Home contributes $50,000 per year to this fund as a matching amount to ensure that both partner agencies are contributing equally to capital maintenance. In addition, discussions with the Veteran’s Home of California at the close of the fiscal year resulted in the Town collecting an additional $196,171 for reimbursement of costs for capital projects that exceed the annual contribution. In summary, Fund 63 revenues and transfers in exceeded expenses by $268,467.

The Wastewater Collection Capital Improvement Fund (64-4519) ended with a positive working capital of $425,754. This amount is calculated by reducing the total fund balance by capital asset values, funds assigned for debt service repayment, and reserve targets as set by the Water and Wastewater Utility Rate Study. In turn, the amount in this report is the amount available for capital projects.

Total revenues including interest and the transfer from the Wastewater Operating Fund (62) were $160,305.

Expenditures including project costs and debt service totaled $112,671. These expenditures were significantly lower than the budgeted amount, mostly because the Inflow and Infiltration Reduction Project continued to carry forward and is now expected to be completed in Fiscal Year 2023/2024.

The 2022 Water and Wastewater Utility Rate Study was approved in November 2022, and the first of five utility rate increases were implemented on January 1, 2023. An 8.5% increase was applied to water rates and a 5.4% increase was applied to wastewater rates. Future utility rate increases will assist the water and wastewater funds in curing deficits, funding projects and operations, and meeting reserve targets.

ENVIRONMENTAL REVIEW
Exempt per California Environmental Act (CEQA) Guideline, Section 15061(b)(3)

FISCAL IMPACT
Is there a Fiscal Impact? Yes
Is it Currently Budgeted? N/A
Where is it Budgeted? N/A
Is it Mandatory or Discretionary? Discretionary
Is there a Staff Resource Impact? Nominal

STRATEGIC PLAN GOAL
Is item Identified in Strategic Plan? Yes
If yes, Identify Strategic Goal and Objective. Responsible Fiscal Policy: The Town maintains its fiscal health through policies designed to maximize economic opportunities, manage expenses, and ensure prudent reserves.

Briefly Explain Relationship to Strategic Plan Goal and Objective. The fiscal year-end financial report closes all the accounting periods for the prior fiscal year after the audit is completed. This report accounts for adjustments made as required by the Governmental Accounting Standards Board (GASB) or other required reporting agencies. The results of this report may provide the Town Council an opportunity to allocate unassigned fund balance in the current fiscal year.

TOWN OF YOUNTVILLE

YEAR END FINANCIAL REPORT
Fiscal year 2022/2023
General Fund Revenues
The following is a summary of General Fund revenue by major category as of June 30, 2023:

Revenues: Budget* Actual Variance % of Budget Note
Property Taxes 2,142,000 2,627,411 485,411 122.7% Note 2 Sales Taxes 1,640,000 1,628,440 (11,560) 99.3% Note 1
Other Taxes 158,000 205,732 47,732 130.2%
Transient Occupancy Tax 7,500,000 8,750,591 1,250,591 116.7% Note 3 Investment Earnings 20,000 95,776 75,776 478.9%
Licenses & Permits 185,250 193,615 8,365 104.5%
Fines & Forfeitures 8,000 60,024 52,024 750.3%
Rents & Concessions 337,000 339,955 2,955 100.9%
Intergovernmental 150,000 257,362 107,362 171.6%
Parks & Recreation Fees 202,500 359,492 156,992 177.5%
Charges for Services 181,000 156,377 (24,623) 86.4%
Miscellaneous 112,100 169,011 56,911 150.8%
Total 12,635,850 14,843,786 2,207,936 117.5%
Transfers: Budget Actual Variance % of Budget Note
Tourist Business Imp. Dist. 12,500 14,496 1,996 116.0%
Total 12,500 14,496 1,996 116.0%
Note 1 - Sales tax receipts lag 2 ½ - 3 months behind the actual collection period.

Note 2 - Property taxes are generally not received until December, after the first installment has been collected by Napa County.

Note 3 - TOT is due one month after the collection period and received 45 days after the collection period.

TOWN OF YOUNTVILLE

YEAR END FINANCIAL REPORT
Fiscal year 2022/2023
General Fund Expenditures
The following is a summary of General Fund Expenditures by major category as of June 30, 2023:

Expenditures Budget* Actual Variance % of Budget
Town Council/Mayor 1001 181,055 151,143 (29,912) 83.5%
Non-Departmental 1010 222,300 171,024 (51,276) 76.9%
Town Manager 1101 644,771 597,596 (47,174) 92.7%
Information Technology 1011 - - - 0.0% Note 1
Community Promotion 1015 411,143 351,745 (59,398) 85.6% Finance 1102 758,285 670,723 (87,561) 88.5%
Risk Management 1103 78,350 30,007 (48,343) 38.3%
Town Attorney 1105 259,710 255,916 (3,794) 98.5%
Town Clerk 1110 609,850 482,601 (127,248) 79.1%
Planning & Building 2115 1,192,030 1,029,026 (163,004) 86.3% Law Enforcement Services 3200 1,232,873 1,232,373 (500) 100.0% Fire & Emergency Services 3201 759,022 625,659 (133,363) 82.4% Note 2 PW Admin. & Engineering 4301 851,937 744,281 (107,656) 87.4% PW Street Maintenance 4305 434,382 388,326 (46,056) 89.4% PW Park Maintenance 4320 683,909 642,318 (41,592) 93.9% PW Government Bldgs. 4325 590,399 581,815 (8,584) 98.5% Parks & Rec Admin & Services 5405 558,098 557,461 (637) 99.9% Parks & Rec Camp Programs 5406 221,018 220,961 (57) 100.0% Community Center 5408 341,126 337,176 (3,950) 98.8%
Parks & Rec Leisure Prog. 5410 342,289 313,709 (28,579) 91.7% Parks & Rec Sports Prog. 5412 69,563 69,015 (548) 99.2% Parks & Rec Community Events 5413 200,835 183,689 (17,145) 91.5% Yountville Arts 5415 97,341 112,699 15,358 115.8%
Total Expenditures 10,740,284 9,749,263 (991,021) 90.8% Transfers Out:

OPEB-Employee Retiree Ben. 7902 100,000 100,000 - 100.0% PERS UAL 7903 750,000 750,000 - 100.0%
Emergency Reserve Fund 7904 400,000 400,000 - 100.0%
Revenue Stabilization Fund 7905 500,000 500,000 - 100.0% Util Ent Project Comm Fund 7906 1,650,000 1,650,000 - 100.0% Capital Projects Fund 7950 1,100,000 1,100,000 - 100.0% Water Capital Fund 7960 888,668 888,668 - 100.0%
Facility Replacement Fund 7981 350,000 350,000 - 100.0% Fleet/Equip Replacement Fund 7982 200,000 200,000 - 100.0% Housing Opportunity Fund 7970 71,600 64,200 (7,400) 89.7% T.O.Y. Community Foundation 7985 - 1,215 1,215 0.0% Note 3 Water Subsidy 7961 4,000 2,925 (1,075) 73.1%
Wastewater Subsidy 7962 4,000 2,925 (1,075) 73.1%
2017 Lease Rev. Debt Service 7954 550,000 550,000 - 100.0% 2020 Lease Fin. Debt Service 7955 573,000 573,000 - 100.0% Total Transfers Out: 7,141,268 7,132,933 (8,335) 99.9%
Note 1: Allocations of information technology are made to each department so no expenses are shown for program.

Note 2: Payments for Fire & Emergency Services are typically made bi-annually, in January and June.

Note 3: Transfer to TOYCF represents excess revenue collected from art sales. * Budget includes amounts for prior year purchase order rollover and reflects all Fiscal Year 2022/2023 budget adjustments

TOWN OF YOUNTVILLE

ANNUAL FINANCIAL REPORT
June 30, 2023

CAPITAL PROJECTS
Expenditures Budget * Actual Variance % of Budget
Resurface Community Center Gym Flooring CF-0013 45,030 39,290 (5,740) 87.3% Community Shade Structure CF-0022 50,000 - (50,000) 0.0% Replace Roofs on Bus Shelter CF-0026 85,992 44,154 (41,838) 51.3% Community Hall Auto Switch CF-0028 148,330 148,330 - 100.0% Paint Town Hall Interior CF-0029 42,535 42,546 11 100.0% Replace Epic Lawn with Artificial Turf CF-0030 100,000 - (100,000) 0.0% Emergency Geothermal HVAC Repair & Replacement CF-0036 78,773 59,020 (19,753) 74.9% GIS Mapping Improvements CP-0007 58,000 23,957 (34,043) 41.3% ADA Accessibility Improvements: Forrester Park/Three Wiers Park CP-0018 137,120 9,800 (127,320) 7.1% Installation of EV Charging Stations CP-0021 34,000 - (34,000) 0.0% Community Center Tile and Drain Replacement CP-0022 50,000 50,000 - 100.0% Community Center Restrooms CP-0023 9,800 9,419 (381) 96.1% Community Hall / Center Painting CP-0025 59,970 59,970 - 100.0% EV Charging Stations and Fleet CP-0028 200,000 - (200,000) 0.0% LATA Broadband Development Feasibility Study CP-0029 102,600 - (102,600) 0.0% ADA Accessibility Improvements Program CP-2023 116,000 114,400 (1,600) 98.6% Hydroflush Weirs from Finnell to Beard Ditch DF-0018 25,000 - (25,000) 0.0% Town Wide Drainage and Erosion Program DF-2023 19,500 5,248 (14,252) 26.9% Paving Projects - Plan, Specs, and Engineering GT-3023 98,828 5,804 (93,024) 5.9% Annual Street Maintenance & Paving Program MT-3023 534,460 354,279 (180,181) 66.3% New Vineyard Park Path Construction PK-0025 35,800 - (35,800) 0.0% Replace 2003 Chevrolet 2500HD PK-0028 60,000 - (60,000) 0.0% Replace 2013 Chevrolet 2500HD PK-0029 60,000 - (60,000) 0.0% Big Belly Receptacles PK-0038 110,000 - (110,000) 0.0%
Curb, Gutter, and Sidewalk Replacement SB-6023 66,000 - (66,000) 0.0% Surveys and Monuments ST-0004 24,698 9,506 (15,192) 38.5% Traffic Calming Program ST-4023 17,500 475 (17,025) 2.7% Total 2,369,936 976,199 (1,393,737) 41.2%
Expenditures - Water & Wastewater Budget * Actual Variance % of Budget Upgrade SCADA System Emergency Well to Operational Well WA-0018 140,000 14,425 (125,575) 10.3% Hydrant Repair and Replacement WA-0021 15,000 1,261 (13,739) 8.4% Clay Valve Rebuild at Finnell Rd & Yount / Finnell Rd & Yville XRd WA-0022 8,000 8,000 - 100.0% Water Meter Replacement Program WA-2023 30,500 11,394 (19,106) 37.4% Joint Treatment Plant Office Modernization Project WW-0011 859,445 171,276 (688,169) 19.9% SCADA Controls WW-0012 52,387 57,792 5,404 110.3%
Clean and Inspect Primary and Secondary Digester WW-0020 35,000 - (35,000) 0.0% Safety Net and Safety Hinged Doors at Hand Well Access WW-0032 20,000 - (20,000) 0.0% Pump Station Assessment and Capacity Evaluation WW-0033 40,000 - (40,000) 0.0% WWTP Basin Assessment, Maintenance, and Repair WW-0034 300,000 - (300,000) 0.0% Emergency Repair/Replacement Yountville Recycled Main WW-0042 1,000,000 66,940 (933,060) 6.7% Inflow and Infiltration Reduction Program (A-Line) WW-2023 698,334 370,182 (328,152) 53.0% Sewer Main Replacement and Repair Program WW-3023 - - - 0.0% Plant Equipment Replacement Program WW-4023 81,500 29,471 (52,029) 36.2% Town Pump Station Equipment Replacement Program WW-5023 13,500 9,615 (3,885) 71.2% Total 3,293,666 740,355 (2,553,311) 22.5%
* Budget includes amounts for prior year purchase order rollover and reflects all Fiscal Year 2022/2023 budget adjustments.

YEAR END FINANCIAL REPORT
Fiscal year 2022/2023
WATER CAPITAL IMPROVEMENT FUND (60) Budget Actual Variance % of Budget Revenues - System Replacement Fees 130,800 137,030 6,230 104.8% Impact Fees - - - 0.0%
Interest Income 2,000 8,862 6,862 443.1%
Transfers from General Fund (01) 888,668 888,668 - 100.0% Total Revenues 1,021,468 1,034,560 13,092 101.3%
Capital Improvement (60-4500) 275,449 136,488 (138,961) 49.6% Total Expenses 275,449 136,488 (138,961) 49.6%
Net Operating Income/(Loss) 746,019 898,072 152,053
WATER OPERATING ENTERPRISE FUND (61) Budget Actual Variance % of Budget Revenues - Utilities 1,650,450 1,623,562 (26,888) 98.4% Interest Income 200 (1,020) (1,220) -509.8%
Transfer-Water Subsidy (01) 4,000 2,925 (1,075) 73.1%
Total Revenues 1,654,650 1,625,467 (29,183) 98.2%
O & M Expenses (61-4505) 765,318 634,084 (131,234) 82.9% Water Purchases (61-4507) 1,164,818 747,706 (417,113) 64.2% Total Expenses 1,930,136 1,381,790 (548,346) 71.6%
Net Operating Income/(Loss) (275,486) 243,677 519,163

YEAR END FINANCIAL REPORT
Fiscal year 2022/2023
WASTEWATER OPERATING ENTERPRISE FUND (62) Budget Actual Variance % of Budget Revenues - Utilities 2,758,000 2,203,665 (554,335) 79.9% Interest Income 3,500 (5,422) (8,922) -154.9%
Transfer-Wastewater Subsidy (01) 4,000 2,925 (1,075) 73.1% Total Revenues 2,765,500 2,201,168 (564,332) 79.6%
-
WW Collection (62-4510) 482,002 398,186 (83,816) 82.6%
WW Treatment (62-4515) 1,510,030 1,408,005 (102,025) 93.2% Transfer to Capital (63/64) 800,000 200,000 (600,000) 25.0% Total Expenses 2,792,032 2,006,191 (785,841) 71.9%
Net Operating Income/(Loss) (26,532) 194,977 221,509
JOINT TREATMENT CAPITAL FUND (63) Budget Actual Variance % of Budget Revenues System Replacement Fees 216,000 230,566 14,566 106.7% Revenues Capital Recovery Vets 767,250 246,171 (521,079) 32.1% Interest Income 7,500 75,233 67,733 1003.1%
Transfer from Wastewater Operating (62) 200,000 50,000 (150,000) 25.0% Total Revenues 1,190,750 601,970 (588,780) 50.6%
WW Joint Treatment Plant (63-4518) 2,757,993 333,504 (2,424,490) 12.1% Total Expenses 2,757,993 333,504 (2,424,490) 12.1%
Net Operating Income/(Loss) (1,567,243) 268,466 1,835,710 WASTEWATER UTILITY CAPITAL FUND (64) Budget Actual Variance % of Budget Transfer from WW Operating (62) 600,000 150,000 (450,000) 25.0% Interest Income 2,000 10,305 8,305 515.2%
Total Revenues 602,000 160,305 (441,695) 26.6%
-
WW Capital Improvement (64-4519) 843,834 82,681 (761,153) 9.8% Transfer to Debt Service (55) 29,991 29,990 (1) 100.0%
Total Expenses 873,825 112,671 (761,154) 12.9%
Net Operating Income/(Loss) (271,825) 47,634 319,459
Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 8G
Yountville Town Council Staff Report
DATE: December 5, 2023
TO: Mayor and Town Council
FROM: Eddy Gomez, Town Clerk
PREPARED BY: Eddy Gomez, Town Clerk

RECOMMENDATION
Approve Minutes of the regular meetings held on November 7, 2023 and November 21, 2023 and the two special meetings held on November 7, 2023 (Closed Session and Study Session).

DISCUSSION/BACKGROUND
Approve Minutes of the regular meetings held on November 7, 2023 and November 21, 2023 and the two special meetings held on November 7, 2023 (Closed Session and Study Session).

ENVIRONMENTAL REVIEW
Exempt per California Environmental Act (CEQA) Guideline, Section 15061(b)(3)

FISCAL IMPACT
Is there a Fiscal Impact? No
Is it Currently Budgeted? N/A
Where is it Budgeted? N/A
Is it Mandatory or Discretionary? Mandatory
Is there a Staff Resource Impact? No

Briefly Explain Relationship to Strategic Plan Goal and Objective. Minutes are required to ensure the Legislative History of the Town Council is maintained.

Town of Yountville
6550 Yount Street
Yountville, CA 94599
Meeting Minutes – Final
Tuesday, November 7, 2023
3:00 PM
Town Hall Council Chambers
Town Council
Mayor Margie Mohler
Vice Mayor Eric Knight
Council Member Hillery Bolt Trippe
Council Member Robin McKeeCant
Council Member Pam Reeves
The Town of Yountville is committed to complying with the Americans with Disabilities Act (ADA) and other similar federal and state laws in all respects. If, as an attendee or participant in this meeting, or in meetings on a regular basis, you will need special assistance beyond what is provided, the Town will provide reasonable accommodations for you. Individuals who need auxiliary aids or services for effective communication or participation in programs and services of the Town of Yountville are invited to make their needs and preferences known by contacting the Town Clerk at (707) 9448851 at least 72 hours prior to the meeting. This notice is available in accessible alternate formats from the ADA Coordinator.

1. CALL TO ORDER; CONVENE REGULAR MEETING 3:00 P.M.

Mayor Mohler called the meeting to order at approximately 3:00 p.m.

Town of Yountville Town Council Regular Meeting Page 1
and services of the Town of Yountville are invited to make their needs and preferences known by contacting the Town Clerk at (707) 9448851 at least 72 hours prior to the meeting. This notice is available in accessible alternate formats from the ADA Coordinator.

1. CALL TO ORDER; CONVENE REGULAR MEETING 3:00 P.M.

Mayor Mohler called the meeting to order at approximately 3:00 p.m.

2. ROLL CALL

Present: 5 Mayor Margie Mohler, Vice Mayor Eric Knight, Council Member Hillery Trippe, Council Member Robin McKeeCant, Council Member Pam Reeves

Absent: None

3. PLEDGE OF ALLEGIANCE
The pledge of allegiance was held.

4. ADOPTION OF AGENDA
A motion was made by Council Member Reeves, seconded by Council Member McKeeCant to Adopt the Agenda. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0

5. COUNCIL MEMBER ANNOUNCEMENTS
Mayor Mohler announced the annual Veterans Day luncheon, with assistance from the Yountville Chamber of Commerce staff will be held on Wednesday, November 8, 2023. Mayor Mohler also announced that on Sunday, November 19, 2023 the Town will be holding the Christmas Tree Lighting event with Santa Claus coming to Town.

Vice Mayor Knight announced that the Emergency Preparedness Standing Committee will hold a meeting in the Council Chambers to discuss planning events for 2024.

Council Member Trippe thanked Vice Mayor Knight and Council Member McKeeCant for their work in Emergency Preparedness Standing Committee.

6. PROCLAMATIONS AND RECOGNITIONS NONE

7. NONAGENDA PUBLIC COMMENT
The following individuals provided inperson public comment: Donald Whetherell, and Joshua Kizer.

8. CONSENT CALENDAR
A. Adopt Resolution Number 234234 Authorizing the filing of a Notice of Completion and accepting the work for the MT3024 Measure T Street Rehabilitation on Heritage Way Project performed by J D Pasquetti for a total contract amount of $238,467.96.

B. Continue the Emergency Declaration for the Town of Yountville Recycled Water Transmission Main Repair pursuant to Yountville Municipal Code 3.32.390
C. Receive and File September 2023 Quarterly Investment Report D. Approve Minutes of the regular meeting held on October 17, 2023.

AmotionwasmadebyCouncilMemberMcKeeCantsecondedbyCouncilMemberReevesto Town of Yountville Town Council Regular Meeting Page 2
Repair pursuant to Yountville Municipal Code 3.32.390
C. Receive and File September 2023 Quarterly Investment Report D. Approve Minutes of the regular meeting held on October 17, 2023.

A motion was made by Council Member McKeeCant, seconded by Council Member Reeves to approve the Consent Calendar items. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0

9. GUEST PRESENTATIONS
A. Napa County Sheriff’s Office Quarterly Report
Sergeant Millat provided the presentation.

B. Napa County CalFire Quarterly Report
Fire Chief Russell provided the presentation.

C. Yountville Arts Commission Biannual Report
Yountville Arts Commission Chair Schaer and Vice Chair Kapjian provided the report.

10. PUBLIC HEARINGS NONE

11. ADMINISTRATIVE / REGULAR ITEMS
A. 1. Receive An Update Regarding the Recent Boil Water Notice; and

2. Discuss and Consider Adopting Resolution 234236 Authorizing a Joint Powers Agreement by and between The Town of Yountville, California Department of Veteran Affairs and City of Napa for Shared Services Including Water Sampling and Certified Water Testing Laboratory Services.

John Ferons, Public Works Director, provided the staff report.

Joshua Kizer, Yountville Veterans Home Public Information Officer, presented a statement on behalf of the Veterans Home regarding the second ecoli notice.

Zachary Rounds, Water Board Supervisor, provided further information on the testing process.

Public Comment – None.

Town Council discussed and took the following action:

A motion was made by Council Member McKeeCant, seconded by Council Member Reeves to Adopt the Resolution. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0

12. STAFF PRESENTATIONS AND INFORMATIONAL REPORTS
Samantha Holland, Parks and Recreation Director, shared results from the scarecrow contest. She also announced that the Yountville Arts Commission is sponsoring a holiday tree decorating contest.

The community is invited to enter and drop off their decorated tree around the perimeter of the CommunityCenterafterthetreelightingeventThecommunitywillbeabletohelppickthewinner Town of Yountville Town Council Regular Meeting Page 3

The community is invited to enter and drop off their decorated tree around the perimeter of the Community Center after the treelighting event. The community will be able to help pick the winner.

Brad Raulston, Town Manager, shared that Public Works staff won the scarecrow contest and that he appreciates the camaraderie between staff participating in this event. He also announced Public Works finalized a Blue Zone project which included creating a side yard for staff to take breaks, enjoy lunch, and more. A front yard project will be announced soon and the community will be able to be involved.

13. COUNCIL EXTERNAL MEETING REPORTS
Mayor Mohler announced she attended the CalLAFCO Conference and Napa LAFCO got three out of six awards. Town Attorney Bell received the Associate Member award. Mayor Mohler was elected Chair of CalLAFCO.

Council Member Reeves shared information from the WICC meeting where it was discussed potentially working on a revision to the Watershed Committee, reorganizing it from the bottom up. The board also discussed separating the Advisory Board from WICC. WICC will also hold a symposium in 2024 with the theme being One Water to illustrate that everything affects everything in the water business.

Council Member Reeves also attended the CAC meeting where they discussed considering intensified reach codes for buildings to make sure that electrical appliances and electrification is a desirable outcome instead of gas. All municipalities will receive the draft of the reach codes.

Vice Mayor Knight congratulated Mayor Mohler for being elected chair of Cal LAFCO. He shared that he attended the NVTA meeting, where they discussed the progress of the Soscol Project, which is expected to conclude next year. They also approved funding for part of the Vine Trail Project between St. Helena and Calistoga. NVTA also approved eight more electric buses for the Napa Valley and approved the Vision Zero plan at the October 19, 2023 meeting, which aims to reduce fatalities and major injuries on all roads, including Highway 29 in Napa County.

14. ADJOURNMENT
A motion was made by Council Member Trippe, seconded by Vice Mayor Knight to Adopt the Resolution The motion carried by the following roll call vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0
Adjourned to the Town Council Special Meeting on Tuesday, December 6, 2023 at 1:00 p.m. being held in Town Council Chambers located at 6550 Yount Street.
_____________________
Eddy Gomez, Town Clerk
Date Approved: December 5, 2023
Town of Yountville Town Council Regular Meeting Page 4
Town of Yountville
6550 Yount Street
Yountville, CA 94599
Meeting Minutes – Final
Tuesday, November 21, 2023
3:00 PM
Town Hall Council Chambers
Town Council
Mayor Margie Mohler
Vice Mayor Eric Knight
Council Member Hillery Bolt Trippe
Council Member Robin McKeeCant
Council Member Pam Reeves
The Town of Yountville is committed to complying with the Americans with Disabilities Act (ADA) and other similar federal and state laws in all respects. If, as an attendee or participant in this meeting, or in meetings on a regular basis, you will need special assistance beyond what is provided, the Town will provide reasonable accommodations for you. Individuals who need auxiliary aids or services for effective communication or participation in programs and services of the Town of Yountville are invited to make their needs and preferences known by contacting the Town Clerk at (707) 9448851 at least 72 hours prior to the meeting. This notice is available in accessible alternate formats from the ADA Coordinator.

1. CALL TO ORDER; CONVENE REGULAR MEETING 3:00 P.M.

2. ROLL CALL
Town of Yountville Town Council Regular Meeting Page 1
and services of the Town of Yountville are invited to make their needs and preferences known by contacting the Town Clerk at (707) 9448851 at least 72 hours prior to the meeting. This notice is available in accessible alternate formats from the ADA Coordinator.

1. CALL TO ORDER; CONVENE REGULAR MEETING 3:00 P.M.

2. ROLL CALL

Present: 5 Mayor Margie Mohler, Vice Mayor Eric Knight, Council Member Hillery Trippe, Council Member Robin McKeeCant, Council Member Pam Reeves

Absent: None

3. PLEDGE OF ALLEGIANCE
The pledge of allegiance was held.

4. ADOPTION OF AGENDA
A motion was made by Council Member McKeeCant, seconded by Council Member Reeves to Adopt the Agenda. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0

5. COUNCIL MEMBER ANNOUNCEMENTS
Council Member McKeeCant expressed her gratitude to Whitney Diver McEvoy, Laticia Sahs and Bob Hurley for organizing the Celebrity Chefs Luncheon at the Veterans Home in honor of Veterans Day.

She also thanked the Yountville Parks and Recreation team and Yountville Chamber of Commerce staff for their work on the Town and Tree Lighting held Sunday, November 19. Council Member McKeeCant noted the upcoming Yountville Community Foundation Thanksgiving meal is set to prepare 137 dinners with 80 of those being sit down and 57 to be delivered. The dinner is being prepared entirely by volunteers and with the generosity of donations.

Mayor Mohler provided a reminder about the Wreaths Across America Ceremonies. Two ceremonies will be held: George C. Yount Cemetery at 9 AM and Yountville Veterans Home Cemetery at 11 AM.

Mayor Mohler expressed her appreciation for the Town and Tree Lighting and all who came together to make it a special night.

6. PROCLAMATIONS AND RECOGNITIONS NONE
None.

7. NONAGENDA PUBLIC COMMENT
A. PC Donald Wetherell

8. CONSENT CALENDAR
A. Adopt Resolution Number 234237 Approving a Professional Services Agreement with PM Design Group, Inc. for the Certified Access Specialist review of the Town’s currently adopted ADA SelfEvaluation and Transition Plan for a contract amount of $73,000 and authorizing the Town Manager to execute the agreement.

B. Adopt Resolution Number 23XXXX approving revised parttime salary schedule implementing increased minimum wage requirement effective January 1, 2024.

C. Appoint two (2) individuals to the Affordable and Workforce Housing Oversight Committee in the Lodging and Lodging or Business Categories with a term of office to commence immediately and Town of Yountville Town Council Regular Meeting Page 2
to execute the agreement.

B. Adopt Resolution Number 23XXXX approving revised parttime salary schedule implementing increased minimum wage requirement effective January 1, 2024.

D. Continue the Emergency Declaration for the Town of Yountville Recycled Water Transmission Main Repair pursuant to Yountville Municipal Code 3.32.390
E. Receive and file October 2023 Monthly Financial Report A motion was made by Council Member Reeves, seconded by Vice Mayor Knight to approve the Consent Calendar items. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0
Council Member Knight recognized the appointment of Robert Stout and Alain Negueloua to the Affordable and Workforce Housing Oversight Committee and thanked them for the volunteer service.

9. GUEST PRESENTATIONS NONE
None.

10. PUBLIC HEARINGS NONE
None.

11. ADMINISTRATIVE / REGULAR ITEMS
A. Consider adoption of Resolution Number 234239 Approving reclassification of the Finance Director/Treasurer position to Administrative Services Director including new job description and new employment agreement; ratify the appointment of Celia King to the position; and introduce and waive the first reading of Ordinance Number 23525 Reclassifying the Finance Director/Treasurer position to Administrative Services Director and updating the Yountville Municipal Code to reflect the reclassification.

Town Manager Brad Raulston presented the staff report and Assistant Town Attorney Anderson provided salary and benefit information from the employment agreement.

A motion was made by Vice Mayor Knight, seconded by Council Member Reeves to Adopt the Resolution. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0
A motion was made by Vice Mayor Knight, seconded by Council Member Reeves to Introduce and Waive the First Reading of the Ordinance. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
Town of Yountville Town Council Regular Meeting Page 3
A motion was made by Vice Mayor Knight, seconded by Council Member Reeves to Introduce and Waive the First Reading of the Ordinance. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0
B. Parks and Recreation Master Plan (Formal Title Coming Soon) Town Manager Brad Raulston introduced the item and thanked Parks and Recreation Director Samantha Holland for her work on the Master Plan. Director Holland presented the staff report and presentation.

Public Comment was received from Parks and Recreation Advisory Commission Chair Carol Shirmang.

A motion was made by Council Member McKeeCant, seconded by Mayor Mohler to Adopt the Resolution. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0
C. Consider Approving Argument in Favor of Measure U (Increase of Appropriations (Gann) Limit) for the March 5, 2024 Special Municipal Election.

Town Manager Brad Raulston provided the staff report. After Council discussion, direction was provided to separate the last sentence of the paragraph between the information on voting “No” and the information on voting “Yes”.

A motion was made by Vice Mayor Knight, seconded by Council Member Reeves to Approve the arguements in favor of Measure U with the request to seperate the line between sections.. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0
D. Consider and Discuss Approving the Proposed Town Council Meeting Calendar for Calendar Year 2024, Approving Closing Town Offices for Winter Break Holidays in 2023 and 2024, and Approving Request to Cancel the Town Council Regular Meetings scheduled for December 19, 2023 and January 2, 2024.

Town Manager Brad Raulston presented the staff report. Mayor Mohler made the recommendation to approve the Town Office holiday closure and and allow staff time off without the use of accruals during the week of December 25 – December 29, 2023 as a holiday thank you gesture. This item will be brought back at the December 5, 2023 meeting.

The Town Council Meeting Calendar was approved.

12. STAFF PRESENTATIONS AND INFORMATIONAL REPORTS
Town Manager Brad Raulston reported the resignation of Town Clerk Eddy Gomez. His final day will be December 8, 2023.

13. COUNCIL EXTERNAL MEETING REPORTS
Mayor Mohler and Council Member McKeeCant attended the NVTA meeting. Items discussed included thbllttttilltdMTdthhfdditilltibll
Town of Yountville Town Council Regular Meeting Page 4
,

13. COUNCIL EXTERNAL MEETING REPORTS
Mayor Mohler and Council Member McKeeCant attended the NVTA meeting. Items discussed included the ballot measure to potentially extend Measure T and the purchase of additional electric buses as well as clean natural gas buses.

14. ADJOURNMENT
A motion was made by Vice Mayor Knight, seconded by Council Member Reeves to Adjourn the meeting The motion carried by the following roll call vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0
Adjourn to the Town Council Special Meeting Tuesday, December 5, 2023 at 1:00 p.m., being held in Town Council Chambers located at 6550 Yount St.
/s/ Hilary Gaede, Deputy Town Clerk Town of Yountville Town Council Regular Meeting Page 5 Town of Yountville
6550 Yount Street
Yountville, CA 94599
Special Meeting Minutes – Final
Tuesday, November 7, 2023
1:00 PM
Town Hall Council Chambers
Town Council
Mayor Margie Mohler
Vice Mayor Eric Knight
Council Member Hillery Bolt Trippe
Council Member Robin McKeeCant
Council Member Pam Reeves
The Town of Yountville is committed to complying with the Americans with Disabilities Act (ADA) and other similar federal and state laws in all respects. If, as an attendee or participant in this meeting, or in meetings on a regular basis, you will need special assistance beyond what is provided, the Town will provide reasonable accommodations for you. Individuals who need auxiliary aids or services for effective communication or participation in programs and services of the Town of Yountville are invited to make their needs and preferences known by contacting the Town Clerk at (707) 9448851 at least 72 hours prior to the meeting. This notice is available in accessible alternate formats from the ADA Coordinator.

1. CALL TO ORDER; CONVENE SPECIAL MEETING 1:00 P.M.

Mayor Mohler called the meeting to order at approimately 2:00 p.m. 2ROLLCALL
and services of the Town of Yountville are invited to make their needs and preferences known by contacting the Town Clerk at (707) 9448851 at least 72 hours prior to the meeting. This notice is available in accessible alternate formats from the ADA Coordinator.

1. CALL TO ORDER; CONVENE SPECIAL MEETING 1:00 P.M.

Mayor Mohler called the meeting to order at approimately 2:00 p.m.

2. ROLL CALL

Present: 5 Mayor Margie Mohler, Vice Mayor Eric Knight, Council Member Hillery Trippe, Council Member Robin McKeeCant, Council Member Pam Reeves

Absent: None

3. PLEDGE OF ALLEGIANCE
The pledge of allegiance was held.

4. ADOPTION OF AGENDA
A motion was made by Council Member McKeeCant, seconded by Vice Mayor Knight to Adopt the Agenda. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0

5. NONAGENDA PUBLIC COMMENT
None.

6. HOUSING STUDY SESSION
Brad Raulston, Town Manager, introduced the Housing Study Session.

The following staff members and guests provided presentations: Gary Bell, Town Attorney, John Sakamoto, Housing Supervisor with the City of Napa, Diane Levine, Assistant Planner, and Kyle Johnson, Assistant Planner,

7. ADJOURNMENT
A motion was made by Council Member Trippe, seconded by Council Member McKeeCant to Adjourn the meeting. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0
Town of Yountville
6550 Yount Street
Yountville, CA 94599
Closed Session Meeting Minutes – Final
Tuesday, November 7, 2023
12:00 PM
Town Hall Council Chambers
Town Council
Mayor Margie Mohler
Vice Mayor Eric Knight
Council Member Hillery Trippe
Council Member Robin McKeeCant
Council Member Pam Reeves

1. CALL TO ORDER; CONVENE SPECIAL MEETING 12:00 P.M.

Mayor Mohler called the meeting to order at approximately 12:00 p.m.

2. ROLL CALL

Present: 5 Mayor Margie Mohler, Vice Mayor Eric Knight, Council Member Hillery Trippe, Council Member Robin McKeeCant, Council Member Pam Reeves

Absent: None

3. ADOPTION OF AGENDA
A motion was made by Council Member McKeeCant, seconded by Council Member Reeves to Adopt Council Member Pam Reeves

1. CALL TO ORDER; CONVENE SPECIAL MEETING 12:00 P.M.

Mayor Mohler called the meeting to order at approximately 12:00 p.m.

2. ROLL CALL

Present: 5 Mayor Margie Mohler, Vice Mayor Eric Knight, Council Member Hillery Trippe, Council Member Robin McKeeCant, Council Member Pam Reeves

Absent: None

3. ADOPTION OF AGENDA
A motion was made by Council Member McKeeCant, seconded by Council Member Reeves to Adopt the Agenda. The motion carried by the following vote:

AYES: 5; Mayor Mohler, Vice Mayor Knight, Council Member Trippe, Council Member McKeeCant, Council Member Reeves
NOES: 0
ABSTAIN: 0

4. NONAGENDA PUBLIC COMMENT
None.

5. CLOSED SESSION
A. Conference With Real Property Negotiator (Gov. Code, § 54956.8.) Property Address: 6554 Yount Street, Yountville, CA 94599 Town Negotiator: Brad Raulston, Town Manager
Negotiating Party: Napa Valley Unified School District
Under Negotiation: Price and Terms of Payment
B. Conference with Legal Counsel; Anticipated Litigation (Gov. Code, § 54956.9, subd. (d)(2).) A point has been reached where, in the opinion of the Town Council on the advice of its legal counsel, based on the belowdescribed existing facts and circumstances, there is a significant exposure to litigation against the Town:

Facts and circumstances that might result in litigation but which the Town believes are not yet known to potential plaintiff or plaintiffs. (Gov. Code, § 54956.9, subd. (e)(1).) Number of Potential Cases: 1
C. Conference with Legal Counsel, Existing Litigation (Gov. Code, § 54956.9, subd. (d)(1).) Name of Case: United States of America, et al. v. JM Manufacturing Company, Inc.

Names of Parties: Town of Yountville; Numerous California Cities and Special Districts (Full List Available from Town Clerk Upon Request)
Case Number: United States District Court, Central District of California, Case No.: EDCV 0655 GWPJWx
The Town Council returned from closed session and Mayor Mohler announced that there was no reportable action. Mayor Mohler adjourned the meeting.

6. ADJOURNMENT
Adjourned to the Town Council Special Meeting being held Tuesday, November 7, 2023 at 1:00 p.m. in Town Council Chambers located at 6550 Yount Street.

6. ADJOURNMENT
Adjourned to the Town Council Special Meeting being held Tuesday, November 7, 2023 at 1:00 p.m. in Town Council Chambers located at 6550 Yount Street.
_____________________
Eddy Gomez, Town Clerk
Date Approved: December 5, 2023
Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 9A
Yountville Town Council Staff Report
DATE: December 5, 2023
TO: Mayor and Town Council
FROM: Celia King, Finance Director
PREPARED BY: Celia King, Finance Director

RECOMMENDATION
Receive the presentation of the Annual Comprehensive Financial Report (ACFR) for Fiscal Year Ended June 30, 2023.

DISCUSSION/BACKGROUND
The Town has undergone the annual audit for Fiscal Year 2022/2023 and issued its Annual Comprehensive Financial Report (ACFR) for fiscal year ended June 30, 2023. The Town publishes the ACFR to fully disclose its financial information and to comply with state and federal requirements and bond covenants.

The ACFR for fiscal year ended June 30, 2023 represents the Town’s financial status as of that moment in time.

This report differs from the annual budget because instead of showing estimated numbers, it reflects the actual revenue and expenditure activity that occurred during the fiscal year, and the effects that activity had on fund balances.

The Town’s fiscal year begins July 1 and ends June 30 of each year. The financial audit and the preparation of the financial statements takes place over several months, beginning just after the end of the fiscal year and continuing through the time the books are closed and the ACFR is published. Staff coordinates with the auditor to ensure that the work is completed accurately and timely.

The Town has contracted with Chavan & Associates to perform the annual independent audit of its financial statements. This firm’s expertise, efficiency, and communication with finance staff have allowed us to complete the audit and ACFR document by mid-November. The ACFR will be submitted to the Government Finance Officers Association (GFOA) for consideration of the annual Certificate of Achievement for Excellence in Financial Reporting by the end of December 2023.

ACFR OVERVIEW
The ACFR is comprised of four sections:

Introductory Section: provides general information on the government’s structure and the letter of transmittal.

Financial Section: contains the independent auditor’s report, management discussion and analysis, the basic financial statements, the fund financial statements and the notes to the financial statements.

The independent auditor’s report describes the scope of the audit and is where the auditor gives his opinion on the financial statements.

Management’s discussion and analysis provides a comprehensive overview and analysis of the financial statements, the Town’s financial position and the major activities that took place during the year.

The Governmental Accounting Standards Board (GASB) requires governmental entities to prepare financial statements using two different perspectives:

Government-Wide Financial Statements – The government-wide statements are prepared using a full accrual basis (like private sector) and are presented with totals for government type activities and business type activities. The Town’s business type activities are the water and wastewater utility enterprises; all other activities are reported as governmental activities, except for fiduciary funds. The government-wide statements present the overall financial picture of the Town’s net position and activities.

Fund Financial Statements – The fund financial statements are presented using the basis on which the Town keeps its accounting records and prepares its annual operating budget. Modified accrual accounting is used for all governmental funds and full accrual accounting is used for the proprietary funds. The fund financial statements presented for the Town’s governmental funds are the balance sheet and the statement of revenues, expenditures, and changes in fund balances. The Town’s proprietary fund statements (water and wastewater enterprise funds) include the statement of net position, statement of revenues, expenses and changes in net position, and the statement of cash flows.

The notes to the financial statements provide detailed information to support the balances reported and disclose other relevant information regarding the Town’s financial position.

Supplemental Information Sections: include budgetary comparison schedules, schedule of funding progress for OPEB, combining statements and schedules, comparative enterprise funds statements and capital asset schedule.

Statistical Section: consists of four subsections providing financial trends information, revenue capacity information, debt capacity information, and demographic and economic history/trends and variables.

Sheldon Chavan, CPA, Managing Partner of Chavan & Associates will present an overview of the Annual Comprehensive Financial Report for fiscal year ended June 30, 2023 with a focus on newly implemented Government Accounting Standards Board (GASB) accounting and financial reporting statement number 87 (Leases) and 96 (Subscription-Based Information Technology Arrangements) and their impacts on the General Fund.

Please click this link to view the complete ACFR document.

ENVIRONMENTAL REVIEW
Exempt per California Environmental Act (CEQA) Guideline, Section 15061(b)(3)

FISCAL IMPACT
Is there a Fiscal Impact? No
Is it Currently Budgeted? Yes
Where is it Budgeted? Finance Accounting and Auditing Budget 01-1102-4220 Is it Mandatory or Discretionary? Mandatory
Is there a Staff Resource Impact? Yes

Briefly Explain Relationship to Strategic Plan Goal and Objective. The results of the audit and ACFR provide the Town with a report on fiscal operations and conditions as well as outline any material findings that could compromise the Town's fiscal position. The best result to receive from an audit firm is an unmodified opinion.

Town of Yountville
Annual Comprehensive Financial Report
Fiscal Year Ended June 30, 2023
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ABOUT THE COVER
In the heart of Napa Valley sits Yountville, a renowned one of a kind town, with incredible natural surroundings, breathtaking views, wineries, fine cuisine, and most importantly a community that makes strolling around town inviting. The neighbors, workers, and businesses of Yountville have created a magical atmosphere that charms locals and visitors alike. Thanks to our community, Yountville is a beautiful place that our residents are proud to call home.

Town of Yountville
California
Annual Comprehensive Financial Report
Fiscal Year Ended June 30, 2023
Prepared by the Finance Department
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TOWN OF YOUNTVILLE

COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2023

TABLE OF CONTENTS

INTRODUCTORY SECTION
Transmittal Letter ..................................................................................................................... 1 Principal Officials .................................................................................................................... 9 Organizational Chart............................................................................................................... 10 GFOA Certificate ................................................................................................................... 11

FINANCIAL SECTION
Independent Auditor’s Report ................................................................................................. 15 Management’s Discussion and Analysis (Required Supplementary Information) ...................... 21 Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position............................................................................................. 37 Statement of Activities................................................................................................. 38 Fund Financial Statements
Governmental Funds:

Balance Sheet ......................................................................................................... 40 Reconciliation of the Government Funds Balance Sheet
to the Government-Wide Financial Statement of Net Position............................. 41 Statement of Revenues, Expenditures and Changes in Fund Balances ...................... 42 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Government-Wide Statement of Activities ...................................................................................... 43 Proprietary Funds:

Statement of Net Position ....................................................................................... 46 Statement of Revenues, Expenses, and Changes in Fund Net Position ...................... 47 Statement of Cash Flows......................................................................................... 48 Fiduciary Fund Financial Statements:

Statement of Fiduciary Net Position ........................................................................ 50 Statement of Changes in Fiduciary Net Position ...................................................... 51 Notes to the Basic Financial Statements .................................................................................. 54

REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis):

General Fund ............................................................................................................... 91 Measure T Fund ........................................................................................................... 92 Schedule of Pension Contributions .......................................................................................... 93 Schedule of Proportionate Share of Net Pension Liability ........................................................ 94 Schedule of OPEB Contributions ............................................................................................ 95 Schedule of Changes in Net OPEB Liability ............................................................................ 96 Schedule of PARS OPEB Trust Investment Returns................................................................. 97

TOWN OF YOUNTVILLE

COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2023

TABLE OF CONTENTS

SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis):

Capital Projects Fund ................................................................................................. 101 Debt Service Fund...................................................................................................... 102 Nonmajor Governmental Funds:

Combining Balance Sheet ................................................................................................ 105 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ............. 109 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis):

Gas Tax Special Revenue Fund.................................................................................... 113 Public Education and Government Television Special Revenue Fund................................. 114 Public Art Program Special Revenue Fund..................................................................... 115 Housing Grant Program Special Revenue Fund .............................................................. 116 SB1 2017 Road Repair Act Special Revenue Fund.......................................................... 117 Measure T Equivalent Special Revenue Fund................................................................. 118 Fire Services Impact Fee Special Revenue Fund ............................................................. 119 Disability Access Fee SB1186 Special Revenue Fund...................................................... 120 Utility Underground Impact Fee Fund ........................................................................................ 121 Housing Opportunity Special Revenue Fund .................................................................. 122 Measure S Special Revenue Fund................................................................................. 123 Upper Valley Disposal Service Franchise Fees Special Revenue Fund ...................... 124 Town of Yountville Community Foundation Special Revenue Fund................................... 125 Tallent Lane Special Revenue Fund.............................................................................. 126 Mesa Court Drainage Special Revenue Fund.................................................................. 127 Measure A Maintenance Capital Project Fund ................................................................ 128 Facility Repair and Replacement Capital Project Fund..................................................... 129 Fleet, Tools, and Equipment Repair and Replacement Capital Project Fund ........................ 130 Comparative Statement of Water Enterprise Fund Net Position.............................................. 131 Comparative Statement Water Enterprise Fund Revenues, Expenses and Changes in Net Position .................................................................................................. 132 Comparative Statement of Wastewater Enterprise Fund Net Position ..................................... 133 Comparative Statement of Wastewater Enterprise Fund Revenues, Expenses and Changes in Net Position ............................................................................................ 134

STATISTICAL SECTION
Net Position by Component................................................................................................... 139 Changes in Net Position........................................................................................................ 140 Fund Balances of Governmental Funds.................................................................................. 142 Changes in Fund Balances of Governmental Funds................................................................ 143 Transient Occupancy Tax Revenue Base Statistics........................................................................ 144

TOWN OF YOUNTVILLE

COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2023

TABLE OF CONTENTS
Transient Occupancy Tax – Principal Payers and Other Information................................................ 145 Principal Transient Occupancy Taxpayers................................................................................... 146 Ratios of Outstanding Debt by Type...................................................................................... 147 Computation of Direct and Overlapping Debt ........................................................................ 148 Legal Debt Margin Information............................................................................................. 149 Pledged Revenue Coverage ................................................................................................... 150 Lease Revenue Bonds Continuing Disclosures............................................................................. 151 Demographic and Economic Statistics ................................................................................... 152 Principal Employers.............................................................................................................. 153 Number of Positions – City Government by Function.................................................................... 154 Operating Indicators by Function .......................................................................................... 155 Capital Asset Statistics by Function ...................................................................................... 156 OTHER INDEPENDENT AUDITOR’S REPORTS
Independent Auditor’s 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 ........................................................ 158 This page is intentionally blank
Introductory Section
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TRANSMITTAL LETTER
This page is intentionally blank
October 24, 2023
Honorable Mayor, Members of the Town Council, and Citizens of the Town of Yountville SUBJECT: Annual Comprehensive Financial Report – June 30, 2023 Town staff is pleased to present the Annual Comprehensive Financial Report (ACFR) for the Town of Yountville for the fiscal year ended June 30, 2023.

REPORT PURPOSE AND ORGANIZATION
State law requires that the accounts and fiscal affairs of all municipal entities be examined annually by an independent certified public accountant. The Town’s independent auditor, Chavan and Associates, LLP has audited the Town’s financial statements and issued an unmodified opinion that the financial statements for the year ended June 30, 2023, are fairly presented in conformity with Generally Accepted Accounting Principles (GAAP). This opinion, along with the basic financial statements, are hereby submitted as the ACFR for the Town of Yountville for the fiscal year ended June 30, 2023. The information included in the financial section of this report fulfills the above requirement.

The independent audit of the financial statements is also typically conducted in conjunction with the federally mandated Single Audit. The standards governing the Single Audit require the independent auditor to report on items beyond fair presentation of the financial statements, including internal controls and compliance with legal requirements involving the administration of federal awards. A single audit was not required or prepared for Fiscal Year 2022/2023 because the Town had less than $750,000 in federal grant expenditures.

The ACFR includes a complete set of audited financial statements and notes, together with supplemental and statistical information. The Town issues the ACFR within approximately six months after the close of each fiscal year to fully disclose its financial information in a timely and transparent manner and to maintain compliance with all state and federal regulations and bond covenants. Management assumes full responsibility for completeness, accuracy of data, and fairness of presentation, including all footnotes and disclosures. Management believes the data presented are accurate in all material respects and that they are presented in a manner designed to fairly set forth the financial position and results of operations of the Town. To provide a reasonable basis for making these representations, Town management has established a comprehensive framework of internal controls designed both to protect the Town’s assets from loss,

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theft, or misuse; and to compile sufficiently reliable information for the preparation of the Town’s financial statements in conformity with generally accepted accounting principles. Because the cost of internal controls should not exceed their benefits, the Town’s internal controls have been designed to provide reasonable rather than absolute assurance that the financial statements are free of material misstatements.

Generally accepted accounting principles require that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The Town’s MD&A can be found in the Financial Section of this document, immediately following the report of the independent auditor.

TOWN OF YOUNTVILLE PROFILE
The Town is located in the heart of Napa Valley surrounded by the beautiful backdrop of the region’s vineyards and mountains. Yountville has small town charm and unique character, making it an ideal place to live, work or visit. With a population of approximately 2,778, we are a community that cares about its citizens and businesses. We also welcome our many visitors who come from the Bay Area, and around the world, to enjoy the numerous activities and events in the area, dine at our critically acclaimed restaurants and stay at one of the fine lodging establishments the Town has to offer.

Form of Government
The Town of Yountville was incorporated February 4, 1965 and operates under a council-manager form of government. Policymaking and legislative authority are vested in the Town Council consisting of the Mayor and four other elected Council members. The Council is responsible for, among other matters, approving and modifying ordinances, adopting the Town budget, appointing committee, and commission members, and hiring the Town Manager and Town Attorney. The Town Manager is responsible for ensuring compliance with the ordinances, implementing the policies and direction of the Town Council, appointing department heads, hiring employees, and managing daily operations of the Town.

The Council is elected on a non-partisan basis. Council members serve four-year staggered terms, with two members elected every two years. The Mayor is elected to serve a four-year term.

Town Services
The Town provides a full range of municipal services including fire/emergency services and law enforcement through contracts with Napa County; construction and maintenance of Town streets, storm drains, bridges, and similar infrastructure type assets; park maintenance; community recreation activities including seasonal camps and other recreation and leisure programs. The Town operates a modern community center facility that hosts community and recreation programs, in addition to being available for rent to groups and functions of all sizes, from small meetings and gatherings to large events and elegant wedding receptions and banquets.

In terms of business-type activities, the Town provides water and wastewater services through the operation of its utility enterprises. The Town has a partnership with the State of California, whereby the State agrees to supply water to the Town, and the Town, in turn, provides wastewater treatment for the

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California Veterans Home. The costs to provide these utility services, including the cost to purchase water, compliance with increasing state regulations, and maintaining the utility infrastructure have steadily increased over the last several years. Upon review of a comprehensive rate study and business plan, the Town Council conducted a public hearing and approved a five-year water/wastewater rate schedule in November 2022. The rate schedule was established to phase in the rate increases necessary to eliminate the utility enterprise operating deficits and provide funds needed for systems replacements. The fiscal year ending June 30, 2023 included revenue from rates that became effective January 1, 2023.

The ACFR includes all financial activities of the Town. Financial data for all funds through which services are provided by the Town have been included in this report based on the criteria adopted by the Governmental Accounting Standards Board (GASB), which is the authoritative body establishing U.S. Generally Accepted Accounting Principles (GAAP) for local governments.

Budgetary Policy and Control
The Town’s budgetary records are maintained on a modified accrual basis. Revenues are recorded when measurable and available; and expenditures are recorded when goods or services are received, and the liability incurred. The Town produces an annual budget, which serves as the foundation for the Town of Yountville’s financial planning and control. Based on the Town of Yountville Financial Policies, the Town is required to maintain a balanced operating budget; requiring current year operating expenses and transfers for debt service and capital expenditures to be fully funded by current year revenues and other designated available funding sources. In the budget development process, the Town Council and staff referenced the following strategic plan goals as a basis for budget development:
 Exceptional Town Services: The Town supports its talented staff who deliver high quality municipal programs and services while maintaining public infrastructure for the benefit of the community.  Engage Residents: The Town embraces our residents’ commitment to community as seen through volunteerism, civic engagement, and public participation that enhances the quality of life in Yountville.

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Responsible Fiscal Policy: The Town maintains its fiscal health through policies designed to maximize economic opportunities, manage expenses, and ensure prudent reserves.

Quality of Life: The Town enhances the livability of Yountville by providing well-maintained public facilities, parks and trails, and quality programs and events.

Premier Destination: The Town values its residents, rich history, natural environment, culinary excellence, arts, and distinguished businesses that make our home a place people love.

Visionary Leadership: The Town’s leadership maintains an open-minded, forward-thinking decisionmaking process. We value engagement and participation from all members of the community as we work together to create policies and plan for the future.

All departments of the Town submit requests for appropriations to the Town Manager each year; these requests serve as a starting point for developing a proposed budget. The Town Manager presents a proposed operating and capital budget to the Town Council each year. The Council holds public hearings,

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generally starting in May, to review and receive input on the proposed budget before formal adoption. The budget is adopted by fund, department, and account classification. During the year, the Town Manager may authorize budget transfers within departments and funds, but only the Town Council can approve additional appropriations. Staff provide monthly financial reports to the Council during the year and may prepare a comprehensive budget review at mid-year. The council approves adjustments to the original budget during the year to reflect changing conditions that impact revenues or expenditures.

Budget to actual comparisons are provided in this report for each governmental fund for which an appropriated annual budget has been adopted. The general fund budget to actual comparison is required supplementary information and is presented in a separate section of this report immediately following the notes to the financial statements. For the Town’s other governmental-type funds a budget to actual comparison schedule is presented as optional information in the section of this report containing combining financial statements and individual fund schedules.

FACTORS AFFECTING FINANCIAL CONDITION
The information presented in the financial statements is better understood when it is considered from the broader perspective of the environment in which the Town operates.

Local Economy
The Town is located sixty miles north of San Francisco in the Napa Valley, an area that attracts many visitors each year as they come to enjoy the scenic beauty, the local attractions and the many wineries and restaurants in the area. The Town of Yountville is a destination for tourists seeking a welcoming small-town environment while visiting the Napa Valley. The Town has been recognized in many well-known publications and continues to attract visitors from nearby urban areas, as well as other regions and countries. As a tourist destination, 70% of the Town’s general fund revenues for Fiscal Year 2022/2023 are from transient occupancy tax (TOT), restaurant and tasting room sales tax collections.

Given the reliance on tourism-based revenue, the Town has taken steps to ensure continued promotion as a tourist destination. The Town contracts with the Yountville Chamber of Commerce for promotional marketing and events. The Town is an active member of the Napa Valley Tourism Improvement District which assesses an additional 2% on all hotel room rents, of which 25% (one fourth) is managed by a Yountville Tourism Improvement Board to promote Yountville, sponsor events, and generate business during the slow months of the tourist season.

The Town has positioned itself to maintain a healthy and vibrant local economy with highly rated hotels and inns, award winning restaurants, wine tasting, boutique retail shops and a community art program all situated in a beautiful location that attracts many visitors. Yountville is also home to the Veterans Home of California, a historic community of and for veterans, dating back to the 1880’s.

The three major sources of General Fund revenue include Transient Occupancy Tax (TOT), Property Tax, and Sales Tax. An overview of these three taxes, which account for 88% of the Fiscal Year 2022/2023 General Fund revenues, is provided in the subsequent sections.

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Transient Occupancy Tax
Transient Occupancy Tax is the Town’s largest source of revenue, representing 59% of all General Fund revenues. In Fiscal Year 2022/2023, the Town’s TOT revenues were $8.7 million. This is substantially less than the prior fiscal year when the Town experienced an unprecedented amount of TOT collections, but also more than pre-pandemic Fiscal Year 2018/2019.

Property Tax Revenues
This revenue source is stable and does not respond quickly to changes in the economy. Property taxes were 24% higher than the prior fiscal year. Yountville has experienced steady growth in property tax over the last few years due to the increase in property valuations as homes have been selling at higher prices, and due to the sale of a large commercial property in December 2021.

Sales Tax Revenues
Sales and Use Tax revenues represent the third largest share of General Fund revenues. The largest share of sales tax is generated from restaurants and the remainder of the business community is comprised of hotels and inns, wine tasting rooms, small retail shops, one grocery store, and one gas station. In Fiscal Year 2022/2023, sales tax growth began to slow as the inflation rate impacted the economy.

Primary Revenues History
Property Tax, Sales Tax and Transient Occupancy Tax
10,000,000
9,000,000
8,000,000
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
-

ACTUAL ACTUAL ACTUAL
2020/2021 2021/2022 2022/2023
Property Tax Sales Tax Transient Occupancy Tax
Long-Term Financial Planning
The Town Council adopted a balanced budget for Fiscal Year 2022/2023. The Town has a practice of using moderately conservative revenue projections and reviewing and adjusting, as needed, at mid-year. The

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Town Council has funded an emergency reserve at 20% of general fund expenditures, a revenue stabilization reserve at 25% of Transient Occupancy Tax Revenue estimates or higher, and fund balances for general and legal contingencies as well as a self-insurance retention. The Town Council has also supported reserve funds for Facility, Repair and Replacement and Tools and Equipment Repair and Replacement to better prepare for funding repairs and replacement needs of the town.

The Town has taken several steps to ensure fiscal stability over the next several years and beyond. The Town has adopted a master fee schedule to manage and monitor charges for services. The master fee schedule is comprehensively reviewed and updated each year prior to the budget cycle to provide updated information for revenue projections and cost recovery targets, where applicable.

The Town Council adopted a water and wastewater utility rate study which includes a five-year enterprise business plan to raise rates for water and wastewater services. The new rates provide the resources needed to operate and maintain the Town’s utility systems and comply with new environmental and regulatory requirements.

The Town Council has established an IRC Section 115 Trust with PARS (Public Agency Retirement Services) for both OPEB (other post-employment benefits) and the CalPERS Unfunded Actuarially Accrued Liability.

Contributions to the OPEB portion of the trust are directed by the Town Council and have followed the actuarially determined contribution issued by the Town’s actuary. Contributions to the pension portion of the trust are at the Town Council’s discretion. These steps have been taken to protect the Town against future economic uncertainty.

Major Initiatives
Managing the increase cost of purchasing water
The Town purchases water from the Rector Reservoir, per a long-term contract with the State of California Veterans Home. The cost of water is calculated each year based on the Town’s proportionate share of Rector Reservoir cost of operations. In the 2018 Utility Rate Study it was estimated that the cost of water would increase approximately 7% in the next five years. However, the cost has proven to increase more than originally anticipated. When Rector Reservoir water is not available, the Town obtains water from the City of Napa, but at a much higher rate. Town staff continues to build on its working relationship with the Veterans Home and seek methods for managing these rising costs.

Managing Rising Pension Costs
The Town of Yountville, like many municipalities throughout the State, is facing rising CalPERS pension costs.

This is primarily related to the changes in CalPERS actuarial assumptions which include changes to discount rate, amortization policies, mortality rates, and the implementation of risk mitigation strategies. The Town has been disciplined to set aside money for our PERS UAAL Reserve Fund, which had a balance of $3.3 million on June 30, 2023. These dedicated reserve funds will aid the Town in meeting future pension obligations.

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Pursuing Grant Funding
The Town has been successful in obtaining grants and low-cost financing for projects and will continue this practice to leverage Town resources and provide resources to complete capital projects. In 2014, the Town obtained a $3,465,362 State Revolving Fund Loan for the purpose of financing the Yountville Water Recycling Expansion Project. The loan is a draw down as costs are incurred type of loan. The town received $2,725,340 in loan proceeds. In February 2019, the Town was awarded $500,000 in a HOME Program Grant from the California Department of Housing and Community Development which provides funding for home improvement projects for low-income eligible residents to bring their homes up to current building code standards.

Increasing Affordable and Workforce Housing
On November 6, 2018, Yountville voters approved Measure S which increased the Transient Occupancy Tax (TOT) by one percent (1%) to support workforce and affordable housing efforts. This special tax went into effect as of January 1, 2019. On June 30, 2023, the balance of the Measure S Fund was $2.7million. The Town established a Measure S Workforce and Affordable Housing Committee that reviews fund activity to ensure proper use and apprise the Town Council of potential opportunities to utilize the funds to promote an increase of affordable housing within the Town.

Disaster and Emergency Preparedness Planning
Recent earthquake and fire experiences have clearly demonstrated the importance of the Town’s emergency preparedness and disaster response planning community education and outreach efforts. Work towards improvement continues as we partner with other cities in the county to update the Napa County Hazard Mitigation Plan. The Annual Emergency Preparedness Community workshop was hosted by the Town in September 2022.

Impact of the State Budget
In May 2018, the Associated Press indicated that the State of California has the fifth largest economy in the world. The main sources of uncertainty for California local governments are the economy and the impact from the State of California Budget that included the practice of state takeaways and unfunded mandates.

New legislation has insulated local governments from takeaways, while unfunded mandates and economic downturns remain as uncontrollable factors. The most recent California Department of Finance Bulletin (October 2023) reports unemployment of 3.8% in September 2023 which is 0.3% higher than September 2022. A great concern across the state continues to be increasing costs of housing that will impact a labor shortage. This is a theme shared across the Napa Valley. In response, Measure S (Measure I in Napa County) was passed in the November 2018 election, implemented as of January 1, 2019, and allowed Yountville to increase the hotel tax rate from 12% to 13% for the benefit of workforce housing. The Town developed the 2022/2023 budget assuming there would be no state takeaways or unfunded mandates and staff will continue to review updated economic forecasts and monitor state budget conditions.

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AWARDS
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Town of Yountville for its annual comprehensive financial report for the fiscal year ended June 30, 2022. This was the fourteenth consecutive year that the Town has achieved this prestigious award. To be awarded a Certificate of Achievement, a government agency must publish an easily readable and efficiently organized annual comprehensive financial report.

This report must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Achievement is valid for a period of one year only. We believe that our current annual comprehensive financial report continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to GFOA to determine its eligibility for another certificate.

ACKNOWLEDGEMENTS
The preparation of this report would not have been possible without the year-round dedication and efficiency of the Town staff; and the support and efforts of the Town’s independent auditors.

We would also like to express thanks and appreciation to the Mayor and Members of the Town Council for their leadership and support, and commitment to fiscal sustainability and long-term financial planning.

Respectfully submitted,
Brad Raulston, Town Manager Celia King, Finance Director

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Principal Officials

TOWN COUNCIL
Marjorie “Margie” Mohler, Mayor
Eric Knight, Vice Mayor
Robin McKee-Cant, Council Member
Hillery Trippe, Council Member
Pamela Reeves, Council Member

TOWN ADMINISTRATION
Brad Raulston, Town Manager
Gary Bell, Town Attorney
Samantha Holland, Parks & Recreation Director
Celia King, Finance Director
Kyle Batista, Financial Analyst
John Ferons, Public Works Director
Rosalba Ramirez, Deputy Public Works Director
Erica Rodgers, Management Analyst
Irene Borba, Planning & Building Director
Eddy Gomez, Town Clerk
Hilary Gaede, Deputy Town Clerk
Bea Becerra, Management Fellow

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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Town of Yountville
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2022
Executive Director/CEO

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Financial Section
Management Discussion and Analysis,
Basic Financial Statements,
and
Notes to the Basic Financial Statements

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INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of the Town Council
of the Town of Yountville
Yountville, California
Report on the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of the Town of Yountville (the “Town"), as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise Town’s basic financial statements as listed in the table of contents.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of the Town of Yountville, as of June 30, 2023, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Town 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 a Matter
As discussed in Note 1 lo the financial statements, for the year ended June 30, 2023, the Town adopted new accounting guidance, Governmental Accounting Standards Board Statement No. 96, Subscription-Based Information Technology Arrangements. Our opinion is not modified with respect to this matter.

Responsibilities of Management for the Financial Statements Town management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Town’s ability to continue as a 15105 Concord Circle, Ste. 130, Morgan Hill, CA 95037
Tel: 408-217-8749 • E-Fax: 408-872-4159

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going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS and Government Auditing Standards we:


Exercise professional judgment and maintain professional skepticism throughout the audit.

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Town’s internal control. Accordingly, no such opinion is expressed.

Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.


 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Town’s ability to continue as a going concern for a reasonable period of time.

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

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and other required supplementary information, 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 statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. 15105 Concord Circle, Ste. 130, Morgan Hill, CA 95037
Tel: 408-217-8749 • E-Fax: 408-872-4159

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Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Town’s basic financial statements. The combining and individual fund financial statements and schedules 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 combining and individual fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Other Information
The Town’s 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 October 23, 2023 on our consideration of the Town’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters.

The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Town’s internal control over financial reporting and compliance.

Chavan & Associates, LLP
Certified Public Accountants
October 23, 2023
Morgan Hill, California
15105 Concord Circle, Ste. 130, Morgan Hill, CA 95037
Tel: 408-217-8749 • E-Fax: 408-872-4159

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MANAGEMENT’S DISCUSSION

AND ANALYSIS

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Town of Yountville Management’s Discussion and Analysis

INTRODUCTION
As management of the Town of Yountville, we offer readers of the Town’s financial statements this narrative overview and analysis of financial activities of the Town of Yountville, for the fiscal year that ended on June 30, 2023. We encourage readers to consider the information presented here, in conjunction with additional information that we have furnished in our letter of transmittal. This information can be found on pages 1-8 of this report. The required components of the report are listed below.

Required Components of the Annual Financial Report
Management’s Basic
Discussion & Analysis Financial Statements
Fund Government-Wide
Financial Statements
Notes to the
Financial Statements Financial Statements
FISCAL YEAR 2022/2023 FINANCIAL HIGHLIGHTS
Government-Wide Highlights
 The assets and deferred outflows of resources of the Town of Yountville exceeded the liabilities and deferred inflows of resources at the close of the most recent fiscal year by $72.71 million (net position). Of this amount, net position included $38.34 million classified as net investment in capital assets; $9.97 million as restricted; and $24.41 million as unrestricted net position.  The Town’s net position increased by $6.23 million, and its change in net position decreased by $1.56 million, from $7.79 million, in FY 2022/2023. In the Governmental Activities, tax revenues decreased by $0.61 million, charges for services increased by $0.28 million and capital grants and contributions decreased by $0.36 million.


In the Business-Type Activities, charges for services increased by $0.17 million and capital grants and contributions increased by $0.03 million.

Deferred outflows of resources increased by $1.24 million while deferred inflows of resources decreased by $0.65 million mostly due to differences in expected and actual earnings, expected and actual experiences and changes in proportions. The Town’s pension liability in accordance with

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Town of Yountville Management’s Discussion and Analysis GASB 68 as of June 30, 2023 was $5.16 million, while the net OPEB liability for the fiscal year ending June 30, 2023 was $0.07 million.



The Town’s long-term debt decreased by $0.8 million, or 8%, in Fiscal Year 2022/2023 primarily from debt service payments made during the year.

The Town’s net capital assets decreased by 0.51%, or $0.24 million, primarily as a result of depreciation.

Capital projects expenditures totaled $0.98 million with approximately $0.59 million of ongoing maintenance and replacement projects. The table below shows details of significant projects.

Major Capital Projects are as follows:

Community Hall Generator Auto Switch
ADA Accessibility Improvements Program
Annual Street Maintenance Program
Joint Treatment Plant Office Modernization Project
Inflow and Infiltration Reduction Program (A-Line)
Emergency Recycled Water Line Repair
Total
Budget
148,330
Actual
148,330
116,000
525,000
803,000
698,334
77,100
114,400
354,279
171,276
370,182
59,020
2,367,764 1,217,487
Fund Highlights
 At the close of Fiscal Year 2022/2023, the Town of Yountville’s governmental funds reported combined fund balances of $29.91 million, an increase of $4.3 million in comparison with the prior year. Approximately 22%, or $6.5 million, was classified as unassigned fund balance and was available for spending at the government’s discretion.
 At the end of the Fiscal Year 2022/2023, the general fund’s unrestricted fund balance (the total of the committed, assigned, and unassigned components of fund balance) was $15.68 million, or 154% of total general fund expenditures, prior to transfers. The general fund’s unassigned fund balance was $6.5 million or 64% of total general fund expenditures, prior to transfers.  The General Fund balance increased by $1.46 million, with revenues of $15.42 million and expenditures of $10.23 million, prior to transfers out of $3.73 million. Revenues increased over the prior year by $0.28 million mostly due to an increase in property taxes, while expenses increased by $1.41 million.

OVERVIEW OF THE FINANCIAL STATEMENTS
The discussion and analysis are intended to serve as an introduction to the Town of Yountville’s financial statements. The Town of Yountville’s basic financial statements are comprised of (1) Government-wide Financial Statements (2) Fund Financial Statements, and (3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

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Town of Yountville Management’s Discussion and Analysis Government-Wide Financial Statements
The government-wide financial statements are designed to provide readers with a broad overview of the Town of Yountville’s finances, in a manner similar to a private-sector business. Government-wide financial statements are prepared on an accrual basis, which means they measure the flow of all economic resources of the Town as a whole. Government-wide financial statements consist of the Statement of Net Position and the Statement of Activities.

The Statement of Net Position presents financial information on all of the Town of Yountville’s assets, liabilities, and deferred inflows/outflows of resources, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the Town of Yountville is improving or declining.

The Statement of Activities presents information showing how the Town of Yountville’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. This is consistent with a full accrual concept, which may result in the reporting of revenues and expenses in the current fiscal year, with cash flows occurring in future fiscal periods (e.g., uncollected revenues; and earned but not used vacation leave).

Both of the government-wide financial statements distinguish functions of the Town of Yountville that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). An overview of the Town’s functions associated with each classification is listed below.

Governmental Activities – All of the Town's basic services are considered to be governmental activities. This includes law enforcement, fire and emergency services, planning and building, public works, parks and recreation, community center, community promotion, housing, and general administration. Transient occupancy taxes, sales taxes, property taxes, state, and federal grants finance most of these activities.

Charges for services, which include parks and recreation fees, are also used to help offset the costs of providing certain services.

Business-Type Activities – This Town’s enterprise activities include Waste and Wastewater operations.

Unlike governmental services, these services are fully supported by charges paid by users based on the amount of services they use.

The government-wide financial statements can be found on pages 37-38 of this report.

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 Town, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Fund financial statements provide detailed information about each of the Town's most significant funds, called major funds. Major funds are presented individually, with all non-major funds summarized and presented only in a single column. Subordinate schedules present the details of these non-major funds.

Major funds present the major activities of the Town for the fiscal year and may change from year to year as a result of changes in the pattern of the Town's activities. The Town's funds are segregated into three categories: governmental funds, proprietary funds, and fiduciary funds.

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Town of Yountville Management’s Discussion and Analysis Governmental Funds
Governmental funds are used to account for essentially the same function reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental funds focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. This represents a modified accrual basis of accounting, with capital assets, long-lived assets, and long-term liabilities excluded from the financial statements. Such information may be useful in evaluating the Town's near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for the governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate the comparison between governmental funds and governmental activities.

The Town maintains multiple governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund, the Capital Projects Fund, Debt Service Fund, and the Measure T Fund.

These funds are considered to be major funds. Data from the other governmental funds are combined into a single aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements in the combining and individual fund statements and schedules section of this report. A budgetary comparison statement has been provided as required supplementary information for the General Fund and Measure T fund to demonstrate compliance with this budget. The governmental fund financial statements can be found on pages 40-43 of this report.

Proprietary Funds
The Town of Yountville has the following two enterprise funds which are proprietary funds: Water and Wastewater Funds which are considered major funds for the Town of Yountville. Enterprise funds provide the same type of information as business-type activities in the government-wide statements.

The basic proprietary fund financial statements can be found on pages 46-48 of this report.

Fiduciary Funds
Fiduciary funds are used to account for resources held for the benefit of parties outside the Town.

Fiduciary funds are not reported in the Government-Wide financial statements because the resources of these funds are not available to support the Town of Yountville’s own programs. The accounting for fiduciary funds is much like that used for business type activities. The Town did maintain two fiduciary funds during Fiscal Year 2022/2023, the Other Postemployment Benefit Trust fund and the Napa Valley Tourism Improvement District custodial fund as noted in pages 50-51.

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

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Town of Yountville Management’s Discussion and Analysis

OTHER INFORMATION
In addition to the basic financial statements and accompanying notes, this report also presents required supplementary information concerning the Town of Yountville’s funding progress for its employee pension and OPEB benefit obligations. The required supplementary information can be found on pages 90-96 of this report. The combining statements referred to earlier in connection with nonmajor governmental funds are presented immediately following the required supplementary information on pensions and OPEB as supplementary information. Combining and individual fund statements and schedules can be found on pages 101-134 of this report. The Town also provides comparative statements for its Water and Wastewater enterprise funds in the supplementary information section. An un-audited statistical section provides historical and current data on financial trends, revenue and debt capacity, demographic and economic information, and operating information. This information can be found on pages 139-156 of this document.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
Over time, net position may serve as an indicator of a government’s financial position. In the case of the Town of Yountville, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $72.71 million at the close of the Fiscal Year 2022/2023. This represents an increase of $6.23 million over the prior year.

The following table summarizes the Town’s ending net position:

Table 1 - Net Position
Governmental Activities
2023 2022
Business-Type Activities
2023 2022
Total
2023 2022

35.16 Assets
Current and other assets
Capital assets
$
$
$

33.14 $
$
$

27.43 $
$
$

8.81 $
$
$

7.73 $
$
$

41.95 47.85
$
$
$

36.56 69.70

37.02 64.45

11.28 20.10

11.07 18.80

48.09 Total Assets 89.80 83.25
Deferred Outflows of Resources 2.21 1.28 0.67 0.36 2.88 1.64 Liabilities
Current and other liabilities
Noncurrent liabilities
Total Liabilities
$
$
$

1.67 12.46

14.14 $
$
$

1.44 10.89

12.32 $
$
$

0.57 1.76

2.33 $
$
$

0.67 1.26

1.93 $
$
$

2.24 14.23

16.47 $
$
$

2.11 12.14

14.26 Deferred Inflows of Resources 3.17 3.33 0.33 0.82 3.50 4.15 Net Position
Net investment in capital assets
Restricted
Unrestricted
$
$

27.65 9.97

16.99 54.61
$
$

27.80 7.45

14.83 50.08
$
$

10.68 -

7.42 18.11
$
$

10.32 -

6.08 16.41
$
$

38.34 9.97

24.41 72.71
$
$

38.12 7.45

20.91 Total Net Position 66.48
Net position of the Town’s governmental activities increased $4.53 million to $54.61 million. Approximately 31% of net position relating to governmental activities are unrestricted, and a significant portion, or $27.65 million, of the Town's net position reflects its investment in capital assets, (e.g., land, buildings, general government infrastructure, equipment, etc.), less accumulated depreciation and any outstanding that was debt used to acquire or construct those assets. Capital assets represent infrastructure which provide services to citizens and are not available for future spending. Although the Town‘s investment in capital assets is reported net of related debt, it should be noted that the resources to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate the liabilities.

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Town of Yountville Management’s Discussion and Analysis Total liabilities related to governmental activities increased by $1.81 million due to increases in long term debt as well as net pension and net OPEB liabilities. The Town’s net pension liability as of June 30, 2023 was $3.9 million. The Town’s net OPEB liability as of June 30, 2023 was $57,465. See Note 9 and Note 10 for detailed information related to pension plans and OPEB, along with the required supplementary information section of this report. Deferred Outflows of Resources and Deferred Inflows of Resources both increased, mostly due to pension and OPEB adjustments as well as the implementation of GASB 87 regarding Leases..

Total net position of the Town’s business-type activities increased $1.69 million, to $18.11 million. A business plan to eliminate ongoing deficits and provide the funding necessary for future infrastructure improvements was adopted in November 2022 and the first of five implementations was completed in January of 2023. No deficits were reported in 2023.

At the end of the current fiscal year, the Town of Yountville is able to report a positive balance for the government as a whole. The reasons for the overall financial changes are discussed in the following sections for governmental and business-type activities.

Governmental Activities
As shown in the following Statement of Changes in Net Position schedule, the net position for governmental activities increased from $50.076 million in the prior year to $54.608 million in the current fiscal year. This increase is mostly attributed to greater than expected Property Tax and Transient Occupancy Tax revenue collections and reduced departmental expenditures.

With total revenues for Fiscal Year 2022/2023 at $17.37 million and total expenses at $11.98 million, the change in net position for current activity yielded an increase of $4.53 million. An analysis of the changes in revenues and expenses by type of significant events follows:

Table 2 - Statement of Changes in Net Position
Governmental Activities
2023 2022
Increase
(Decrease)
Business-Type Activities
2023 2022
Increase
Functions/Programs (Decrease)
Program Revenues
Charges for services
Operating grants and contributions
Capital grants and contributions
Total Program Revenues
General Revenues
Taxes
$ 1.165 $ 0.889 $ 0.276
(0.206)
(0.365)
(0.294)
$ 4.193 $ 4.017 $ 0.175
-

0.031

0.206

1.456

0.852

3.473

1.662

1.217

3.767
- -

0.246

4.439

0.216

4.233

13.319

0.555

0.026

13.872
(0.458)

0.094
(0.553)

1.012
(0.068)

0.097
- - -
Investment earnings
Other revenues
Total Revenues

0.133

0.002

4.574
(0.029)

0.010

4.213

0.163
(0.007)

17.373 17.276 0.361
Expenses
General Government
Housing
Public Safety

3.973

0.100

1.864

3.314

0.362

2.097

0.268
-

3.519

0.452

1.644

2.904

0.361

1.688

0.286
-

0.453
(0.352)

0.220

0.410

0.001

0.409
(0.018)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Public Works
Community Promotion
Parks and Recreation
Interest on fiscal charges
Water Services
Wastewater Services
Total Expenses
Excess of Revenues Over Expenses
Special items
Transfers
Increase / (Decrease) in Net Position
Prior Period Adjustments
Net Position, Beginning of Year
Net Position, End of Year
-
-
-
-
-
-

1.518

2.222

3.741

0.834
-

0.865

1.698
-

1.434

1.748

3.182

1.031
-
(0.023)

1.008
-

0.084

0.474

0.558
(0.197)
-

0.888

0.690
-
- - -

11.976

5.396
-
(0.865)

4.532
-

10.853

6.422

0.341

0.023

6.786
(0.003)

43.294

50.076

1.123
(1.026)
(0.341)
(0.888)
(2.254)

0.003

6.783

4.532

50.076

54.608

16.408

18.106

15.400

16.408

1.008
$ $ $ $ $ $ 1.698

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Town of Yountville Management’s Discussion and Analysis Governmental Revenues
The following chart summarizes the changes in revenues by category during Fiscal Year 2022/2023:

Significant changes in governmental revenues consisted of the following:
 Charges for Services revenue increased by approximately $0.276 million or 31%. Parks & Recreation collected more Summer Camp revenue due to increased fees and higher enrollment, and higher revenue for park and facility rentals as more events are being held than prior post-COVID fiscal years.
 Tax revenue decreased by approximately $0.55 million or 4%, with changes primarily related to the following categories:
o
o
Property tax revenue increased by $362,685 or 15.8%, due to continuing increases in property values.

Transient Occupancy Tax revenue decreased by $945,743 or 9.8%. Fiscal Year 2022/2023 experienced lower room rates, yet higher occupancy rates, in comparison to the prior fiscal year in which there was a substantial post-COVID rebound in travel resulting in an unprecedented amount of TOT collections.
o Sales Tax revenues decreased by $89,234 or approximately 5.2% due to less consumer spending as a result of ongoing inflation pressures.


Operating grants and contributions decreased by approximately $0.206 million or 12% since the Town received less Federal and state funding than it did in the prior fiscal year.

Capital grants and contributions decreased by approximately $0.365 million or 30% as the Town received less grant funding for capital projects.

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Town of Yountville Management’s Discussion and Analysis Governmental Expenses
The Fiscal Year 2022/2023 expenses for Governmental Activities increased by $1.12 million, or 10%, as illustrated in the chart below:

Significant changes in governmental expenses primarily consisted of the following:
 General Government increased by $0.45 million primarily due to the approval of a discretionary contribution to the Pension Rate Stabilization Plan (PRSP) Trust.  Housing decreased by $0.35 million mostly due to the Town Council approved purchase of 6631 Oak Leaf Court which was then sold to Napa Valley Community Housing as a Deed Restricted Low Income Housing Unit in the prior fiscal year.


Public Safety increased by $0.22 million due to an increase in contract costs for Sheriff services and Fire and Emergency Medical services.

Public Works increased by $0.41 million partially due to salary increases approved in the most recently approved employee MOU’s and the approval of a discretionary contribution to the Pension Rate Stabilization Plan (PRSP) Trust.
 Parks and recreation increased by $0.41 million partially due to salary increases approved in the most recently approved employee MOU’s and the approval of a discretionary contribution to the Pension Rate Stabilization Plan (PRSP) Trust.

Business-Type Activities
The Town’s business type activities represent the water and wastewater utility enterprise operation.

The Town purchases water from the state Veterans Home for resale to approximately 834 customers.

The sewer collection system operated by the Town serves about 766 customers. The Town also operates the wastewater treatment plant and has a cost sharing agreement with the Veterans Home to provide services.

Total Program Revenue for business-type activities was $4.44 million comprised of $4.19 in charges for services and $0.25 million in capital grants. Total operating revenue from the prior year was $4.23 million.

Total expenses for business-type activities were $3.74 million, which was an increase of approximately $0.56 million when compared to the prior year.

Page 28 ends

Town of Yountville Management’s Discussion and Analysis The following chart is a summary of the changes in revenues and expenses for the Town’s businesstype activities from Fiscal Year 2021/2022 to 2022/2023:

Business-Type activities should generate enough revenue to cover the cost of operations and capital infrastructure. Major cost increases included the cost to purchase water for resale, general cost increases for operating supplies and services, and expenses related to projects required to maintain compliance with state regulations and replace aging infrastructure.

The Town Council approved a five-year water/wastewater rate schedule on November 15, 2022 to ensure the fiscal sustainability of the utility enterprises. The rate schedule was established to phase in the rate increases necessary to eliminate the utility enterprise operating deficits. The first annual rate increase was effective January 1, 2023 and will continue each January 1, through 2027.

FINANCIAL ANALYSIS OF THE TOWN’S GOVERNMENTAL FUNDS
As noted earlier, the Town of Yountville uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

The focus of the Town’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the Town’s financing requirements. In particular, the unassigned fund balance may serve as a useful measure of a government’s net resources available for discretionary use as they represent the portion of fund balance which has not yet been limited to use for a particular purpose by either an external party, the Town itself, or a group or individual that has been delegated authority to assign resources for particular purposes by the Town of Yountville’s Council.

Page 29 ends

Town of Yountville Management’s Discussion and Analysis The following table summarizes the changes in fund balance of the Major Funds and Other Nonmajor Governmental Funds:

Table 3 - Summary of Changes in Fund Balance - Governmental Funds Major Funds
Capital
Projects
Fund
Debt
Service
Fund
Nonmajor
Governmental
Funds
General
Fund
Measure T
Fund Total
Total Revenues $ 15.42 $ 0.04 $ 0.02 $ 0.69 $ 1.26 17.43

0.48 0.79
-
$
Total Expenditures 10.23

5.19 -

0.31 (0.27)
-

0.90 (0.88)
-

0.35 0.34
-

12.27 5.16
-
Revenues Over (Under) Expenditures
Other Financing Sources
Transfers In - 1.10
-

1.15 -
- 0.62
(0.00)

1.40 6.71
-

2.87 (3.73)

4.30 25.61
-
Transfers Out (3.73)

1.46 17.64
-
-
Net Change in Fund Balances
Beginning Fund Balances
Prior Period Adjustment
Ending Fund Balances

0.83 1.00
-

0.27 0.07
-

0.34 0.20
-
$ 19.10 $ 1.83 $ 0.34 $ 0.54 $ 8.11 $ 29.91
In fiscal year 2022/2023, General fund revenues exceeded expenditures by $5.19 million. As presented earlier in connection with governmental activities, Property Tax revenue increased due to higher assessed values. The total general fund expenditures, prior to transfers was $10.23 million. Savings on Napa County Fire services, along with some salary savings within general fund departments because of staff turnover account for the reduction of estimated expenses by approximately 16%.

Other nonmajor governmental funds reflected an aggregate increase to total fund balance. The Capital Projects fund had an increase in fund balance of $0.83 million as a number of planned projects continued into the following fiscal year.

Required debt service payments were covered by General Fund Transfers, and the Debt Service Funds ended Fiscal Year 2022/2023 with an increase to fund balance of $0.27 million. Measure T Fund ended the fiscal year with an increase to total fund balance of $0.34 million.

General Fund – Components of Fund Balance
The general fund is the chief operating fund of the Town of Yountville. At the end of the current fiscal year, the unassigned fund balance of the general fund was $6.5 million, and the total fund balance increased to $19.1 million. This is an increase to the total fund balance of $1.46 million, or 8%, from the prior year.

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Town of Yountville Management’s Discussion and Analysis The major components of the fund balance are shown below:

The following chart displays the fund balance allocations of the General Fund as of June 30, 2023:

Page 31 ends

Town of Yountville Management’s Discussion and Analysis The following chart displays the components of fund balance for governmental funds other than the General Fund:

CAPITAL ASSETS
The Town of Yountville’s investment in capital assets for its governmental and business-type activities as of June 30, 2023 amounts to $47.85 million (net of accumulated depreciation/amortization). This includes net capital assets from governmental activities of $36.56 million and net capital assets from business type activities at $11.28 million. The total decrease in the Town of Yountville’s capital assets during the current fiscal year was approximately $0.24 million. This includes a net decrease of $0.45 million related to Governmental Activities and a net increase of $0.21 million related to Business-type Activities.

The following table summarizes the Town’s capital assets at the end of the year:

Table 4 - Capital Assets at Year End - Net
Governmental Activities Business-type Activities
2023 2022 2023 2022

1.73 1.73 0.01 0.01
Total
2023

1.73 0.77
2022

1.73 % Change
Land $ $ $ $ $ $ 0.00%
Construction-in-Progress
Buildings
Improvements other than building
Infrastructure
Machinery and equipment
Subscrition-based assets

0.05 13.33

2.54 0.07

13.77 2.66

18.13 0.67
-

0.72 0.01
-

0.11 0.01
-

0.18 13.78

2.66 28.89

0.85 -
320.49%
-3.18%
-4.33%
-2.18%

2.11%

13.34 2.54

28.27 0.86

17.87 0.71

0.33 10.39

0.15 -

10.76 0.18
- 0.33 100.00%
Total Capital Assets, Net $ 36.56 $ 37.02 $ 11.28 $ 11.07 $ 47.85 $ 48.09 -0.51% Additional details and information on capital asset activity is described in the notes to the financial statements, Note 6.

Page 32 ends

Town of Yountville Management’s Discussion and Analysis

DEBT ADMINISTRATION
During the year, Long-Term Debt from governmental activities decreased by $0.65 million primarily due to debt service payments, while Long-Term Debt attributable to business type activities decreased by $0.15 million. The reductions resulted from debt service payments.

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

Table 5 - Outstanding Long-Term Debt at Year End
Governmental Activities
2023 2022 % Change
2017 Lease Revenue Refunding Bonds -4.03%
Unamortized Premiums
$
$

7.14 0.33

1.35 -
$ 7.44

0.35 1.68

0.01 9.48
-5.56%
-19.34%
-100.00%
-6.90%
2020 Financing Lease - Direct Borrowing
CEC Loan - Direct Borrowing
Total outstanding long-term debt 8.82 $
Business-type Activities
2023 2022 % Change
-20.11%
-20.11%
State Revolving Loan 0.60

0.60 0.75
Total outstanding long-term debt $ $ 0.75
Additional detail and information on long-term debt activity is described in the notes to the financial statements, Note 7.

GENERAL FUND BUDGETARY HIGHLIGHTS
Changes from the Town's General Fund original budget to the final budget are detailed in the Required Supplementary Information section along with a comparison to actual activity for the year ended. In Fiscal Year 2022/2023, the Town originally estimated the general fund would have a surplus of $51,945 and would not need to drawdown from fund balance to maintain normal operations. Due to increased performance in revenues over the last two fiscal years, the Town had sufficient fund balance to transfer cash to other funds and programs to establish new reserves, fund existing reserves and repay loans.

Revenues
The General Fund adopted and final revenue budgets were $12.85 and $12.85 million. A review of the 2022/2023 budget shows actual revenues recorded were $15.42 million or 20% more than the Town’s original budget. This increase in revenues was mainly contributed to receiving 17% more in TOT collections and 23% more in property taxes than what was anticipated in the original and final budgets.

Expenditures
The General Fund adopted expenditure budget was $10.98 million and the final budget was $12.15 million. Actual expenditures totaled $10.23 million, which is 7% less than the Town’s original budget.

The bulk of general fund savings was generated by a lower cost for Napa County Fire services, salary savings from staff turnover, and less Contract Services activity than originally anticipated.

Page 33 ends

Town of Yountville Management’s Discussion and Analysis ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES
The Town Council adopted a balanced budget for 2023/2024 on June 6, 2023. Key items include:
.
.
.

General Fund revenues are estimated to be $13.45 million.

General Fund eexpenditures of $11.47 million are within the available revenue stream.

Proposed budget is largely status quo and maintains existing levels of service. .
.

Employee count is 34 ffull-time employees.

Implements the second year of a five year labor agreement with the employee groups and includes a 4.6% Cost of Living Adjustment (COLA) as of July 1, 2023. . Maintained and/or increased fund balances:
o
o
o
o
o
o
o
o
o
o
o
Committed for Insurance and Claims Retention $50,000
Assigned for Legal Contingency Reserve $250,000
Assigned for Budget Contingency $573,667
Assigned for Leave Buy Out $160,000
Assigned for Workers Comp Self Insured Retention $20,000 Assigned for Affordable Housing Opportunities $3,616,075 Assigned for Purchase Orders $200,000
Emergency Reserve Fund $2,857,761
Revenue Stabilization Reserve Fund $2,865,569
Utility Enterprise Capital Projects Reserve Fund $1,680,000 Water Enterprise Drought Emergency Reserve Fund $2,016,208 Key infrastructure projects include: Shade Structure for Community Center, Town Hall Landscaping & Access, Electric Vehicle (EV) Fleet & Installation of EV Charging Stations, Annual Street Maintenance and Paving Program, Pump House Rebuild at Van de Leur Park, Vineyard Park Enhancement, Shade Structure at North Park, Washington Street Parking Lot Beautification, Utility Undergrounding Engineering & Design, Recycled Water Transmission Line Repair, and Joint Treatment Plant Office Modernization.

REQUEST FOR FINANCIAL INFORMATION
This financial report is designed to provide our citizens, taxpayers, customers, investors, and creditors with a general overview of the Town’s finances and to demonstrate the Town’s accountability for the money it receives and spends. If you have questions about this report or need additional financial information, contact the Finance Director, Town of Yountville, 6550 Yount Street, Yountville, CA 94599 or visit the Town’s website at: www.townofyountville.com.

Page 34 ends

BASIC FINANCIAL STATEMENTS

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This page is intentionally blank

Page 36 ends

Town of Yountville
Statement of Net Position
June 30, 2023
BusinessType
Activities
Governmental
ASSETS Activities Total
Current Assets:

Cash and investments
Restricted cash and investments with fiscal agents
Receivables:
$ 23,268,923
3,342,582
$ 8,218,176 $ 31,487,099
- 3,342,582
Taxes receivable
Accounts receivable
Interest receivable
1,962,319
30,122
156,018
183,981
203,748
-
541,863
54,594
-
1,962,319
571,985
210,612
183,981
203,748
Lease receivable, current
Due from other governments
Total Current Assets
Noncurrent Assets:
-
29,147,693 8,814,633 37,962,326
Leases receivable
Loans receivable
2,147,530
1,844,131
-
-
2,147,530
1,844,131
Capital Assets:

Nondepreciable 1,777,873
34,786,495
36,564,368
40,556,029
69,703,722
726,560
10,555,843
11,282,403
11,282,403
20,097,036
2,504,433
45,342,338
47,846,771
51,838,432
89,800,758
Depreciable, net of accumulated depreciation
Total Capital Assets, Net
Total Noncurrent Assets
Total Assets $
$
$
$
$
$

DEFERRED OUTFLOWS OF RESOURCES
Pension Adjustments
OPEB Adjustments
1,787,914
187,147
238,761
608,833
60,403
-
2,396,747
247,550
Deferred Loss on Refunding 238,761
Total Deferred Outflows of Resources $
$
2,213,822 $
$
669,236 $
$
2,883,058

LIABILITIES
Current Liabilities:

Accounts payable
Other current liabilities
588,165
231,423
21,000
392,057
-
7,104
980,222
231,423
Interest payable 28,104
Compensated absences, due within one year
Long-term debt, due within one year
Total Current Liabilities
46,299
785,250
1,672,137
14,832
153,307
567,300
61,131
938,557
2,239,437
Noncurrent Liabilities:

Net pension liability
Net OPEB liability
3,903,310
57,465
1,257,360
18,548
5,160,670
76,013
Compensated absences, due in more than one year
Long-term debt and other liabilities - due in more than one year Total Noncurrent Liabilities
138,896 44,497 183,393
8,364,851
12,464,522
14,136,659
444,288
1,764,693
2,331,993
8,809,139
14,229,215
Total Liabilities $ 16,468,652
$
$
$
$
$

DEFERRED INFLOWS OF RESOURCES
Leases
Pension Adjustments
2,256,369
127,052
789,177
- 2,256,369
200,565
1,043,884
3,500,818
73,513
254,707
328,220
OPEB Adjustments
Total Deferred Inflows of Resources $
$
3,172,598 $
$
$
$

NET POSITION
Net investment in capital assets
Restricted for:

Streets
Housing
Cultural programs
Other
27,653,028 10,684,808 38,337,836
1,536,087
4,419,214
205,674
-
-
-
-
1,536,087
4,419,214
205,674
126,640 126,640
Pension stabilization
Debt service
Total Restricted
Unrestricted
3,342,309
337,134
9,967,058
16,988,201
54,608,287
-
-
-
3,342,309
337,134
9,967,058
24,409,452
72,714,346
7,421,251
Total Net Position $ $ 18,106,059 $
The accompanying notes are an integral part of these financial statements.

Page 37 ends

Town of Yountville
Statement of Activities
For the Year Ended June 30, 2023
Program Revenues
Operating Capital
Charges for
Services
Grants and Grants and
Contributions
Governmental
Activities
Business-Type
Functions/Programs Activities
Primary Government:

Governmental Activities:

General Government
Housing
Expenses Contributions Total Total
$
$
3,972,698
99,541
$
$
668,223 $ 311,280
-850,327
172,271
12,630
22,526
87,299
-
$ - $
$
979,503
850,327
173,013
887,462
34,058
$ (2,993,195)
750,786
$ (2,993,195)
- 750,786
Public Safety 1,863,654
3,314,473
361,682
742
23,164
11,532
461,435
- (1,690,641)
(2,427,011)
(327,624)
(1,548,072)
(267,515)
(8,503,272)
(1,690,641)
(2,427,011)
(327,624)
(1,548,072)
(267,515)
(8,503,272)
Public Works 851,668
Community Promotion
Parks and Recreation
Interest and fiscal charges
Total Governmental Activities
-
2,096,806
267,515
-
-
548,734
- -
11,976,369 1,165,096 $ 1,456,333 $ 851,668 3,473,097
Business-Type Activities:

Water Services $
$
1,518,282
2,222,374
3,740,656
$
$
1,758,290
2,434,230
4,192,520
$ $
$
-
-
- $
$
1,758,290
2,680,401
4,438,691
$ 240,008
458,027
698,035
240,008
458,027
698,035
Wastewater Services
Total Business-Type Activities
246,171
$ - 246,171
General Revenues:

Taxes:

Property taxes 2,657,168
1,628,440
8,750,591
283,203
13,319,402
554,653
- 2,657,168
1,628,440
8,750,591
283,203
13,319,402
687,915
27,918
14,035,235
-
14,035,235
Sales and use taxes
Transient occupancy taxes
Franchise taxes
-
-
-
Total taxes -
Investment earnings (loss)
Other revenues
Total General Revenues
Transfers
133,262
2,304
135,566
864,528
1,000,094
25,614
13,899,669
(864,528)
Total General Revenues and Transfers 13,035,141
Change in Net Position 4,531,869 1,698,129 6,229,998
Net Position - Beginning of Year
Net Position - End of Year
50,076,418
54,608,287
16,407,930
18,106,059
66,484,348
$ $ $ 72,714,346
The accompanying notes are an integral part of these financial statements.

Page 38 ends

GOVERNMENTAL FUND FINANCIAL STATEMENTS
General Fund is the Town's primary operating fund. It accounts for all financial resources of general government, except those required to be accounted for in another fund.

Capital Projects Fund accounts for the resources accumulated for the acquisition of fixed assets or construction of major capital projects not being financed by proprietary funds. Significant maintenance projects and major purchases of equipment are also accounted for in the capital projects fund.

Debt Service Fund is used to accumulate resources for repayment of the revenue bonds and capital lease arrangements.

Measure T Fund is used to account for revenue received from the Measure T Ordinance (Napa Countywide Road Maintenance Act) that collects a half cent sales tax going toward projects that improve streets, sidewalks, and related street infrastructure improvements.

Page 39 ends

Town of Yountville
Balance Sheet
Governmental Funds
June 30, 2023
Major Funds
Capital
Projects
Fund
Debt
Service
Fund
Nonmajor
Governmental
Funds
Total
Governmental
Funds
General
Fund
Measure T
Fund
ASSETS
Cash and investments
Cash with fiscal agent
Taxes receivable
Accounts receivable
Interest receivable
Due from other governments
Due from other funds
Leases receivable
Loans receivable
$ 14,579,583
3,342,309
1,677,360
30,122
98,047
67,390
-
$ 1,815,690 $ 333,669 $ 248,857 $ 6,291,124
-
124,976
-
39,810
12,777
1,215
-
$ 23,268,923
3,342,582
1,962,319
30,122
156,018
203,748
1,215
-
-
-
273
-
-
-
159,983
-
12,230 3,192 2,739
- 123,581
-
-
-
-
-
-
-
-
-
-
2,331,511
-
2,331,511
1,844,131 1,844,131
Total assets $ 22,126,322 $ 1,827,920 $
$
337,134 $
$
535,160 $
$
8,314,033 $
$
33,140,569

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES Liabilities:

Accounts payable
Other liabilities
Due to other funds
Total liabilities
$ 542,704
228,698
1,215
$ -
-
-
-
-
-
-
-
-
-
-
-
45,461
2,725
-
588,165
231,423
1,215
772,617 48,186 820,803
Deferred Inflows of Resources:

Leases
Unavailable revenues
$
$
2,256,369
-
2,256,369
$
$
-
-
-
$
$
-
-
-
$
$
-
-
-
$
$
- $
$
2,256,369
157,425
2,413,794
157,425
Total deferred inflows of resources 157,425
Fund Balances:

Nonspendable
Leases 75,142 - - - - 75,142
Restricted:

Streets
Housing
Cultural programs
Other
Pension stabilization
Debt service
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
535,160 1,000,927
4,419,214
205,674
126,640
-
1,536,087
4,419,214
205,674
126,640
3,342,309
337,134
-
-
-
-
-
-
3,342,309
- 337,134
337,134
-
Total restricted 3,342,309 535,160 5,752,455 9,967,058
Committed:

Affordable housing opportunities
Claims
Capital projects
Emergency reserve fund
Utility enterprise capital projects
OPEB and pensions
Total committed
3,616,075
50,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,616,075
50,000
1,827,920
2,855,601
1,677,172
58,058
- 1,827,920
2,855,601
1,677,172
58,058
-
-
-
8,256,906 1,827,920 10,084,826
Assigned:

Leave buy out
Legal claims
100,657
145,000
20,000
-
462,120
200,000
927,777
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
100,657
145,000
20,000
2,355,967
462,120
200,000
3,283,744
Workers compensation self-insurance retention
Capital projects
Budget contingency
Outstanding purchase orders
Total assigned
2,355,967
-
-
2,355,967
Unassigned
Unanticipated tourism revenue deficits
Unassigned
Total unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
2,855,127
3,640,075
6,495,202
19,097,336
-
-
-
-
-
-
-
-
-
-
-
-
2,855,127
3,640,075
6,495,202
1,827,920 337,134 535,160 8,108,422 29,905,972
$ 22,126,322 $ 1,827,920 $ 337,134 $ 535,160 $ 8,314,033 $ 33,140,569 The accompanying notes are an integral part of these financial statements.

Page 40 ends

Town of Yountville
Reconciliation of the Government Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2023
Total Fund Balances - Total Governmental Funds $ 29,905,972 Amounts reported for governmental activities in the statement of net position were different because:

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

Capital assets 53,370,801
(16,806,433)
36,564,368
Less: accumulated depreciation
Total Capital Assets
Interest payable on long-term debt did not require current financial resources. Therefore, interest payable was not reported as a liability in Governmental Funds Balance Sheet. (21,000) The differences from benefit plan assumptions and estimates versus actuals are not included in the plan's actuarial study until the next fiscal year and are reported as deferred inflows or deferred outflows of resources in the statement of net position. 1,058,832 238,761
157,425
The difference between the carrying value of refunded debt and the reacquisition price is deferred and amortized over the shorter of the remaining life of the refunded debt or the refunding debt.

Liabilities were reported for certain revenues that were not available to pay current period expenditures and were reported as unearned in the fund statements.

Long-term obligations were not due and payable in the current period. Therefore, they were not reported in the Governmental Funds Balance Sheet. The long-term liabilities were adjusted as follows:

Long-term debt and other liabilities
Compensated absences
Net pension liability
(9,150,101)
(185,195)
(3,903,310)
Net OPEB liability (57,465)
Total Long-Term Obligations (13,296,071)
Net Position of Governmental Activities $ 54,608,287
The accompanying notes are an integral part of these financial statements.

Page 41 ends

Town of Yountville
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
For the Year Ended June 30, 2023
Major Funds
Capital
Projects
Fund
Debt
Service
Fund
Nonmajor
Governmental
Funds
Total
Governmental
Funds
General
Fund
Measure T
Fund

REVENUES
Property taxes
Sales taxes
$ 2,657,168 $ -
-
-
-
-
-
$ -
-
-
-
-
-
-
$ -
-
-
-
-
-
$ -
-
-
$ 2,657,168
1,628,440
8,750,591
1,031,106
236,473
60,023
1,229,886
613,819
378,789
489,866
355,773
17,431,934
1,628,440
8,750,591
175,975
225,141
60,023
257,362
449,117
378,789
487,620
346,265
15,416,491
Transient occupancy tax
Other taxes
Licenses and permits
Fines and forfeitures
Intergovernmental
Interest
Rent and concessions
Charges for Services
Other Revenue
855,131
11,332
-
270,600
115,961
-
2,245
9,508
1,264,777
14,010
28,367
687,914
15,119 5,255
-
1 -
-
-
-
-
-
-
Total Revenues 42,378 15,119 693,169

EXPENDITURES
Current:

General Government
Housing
Public Safety
3,719,402
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
29,381
99,241
-
29,499
8,846
-
3,748,783
99,241
1,858,032
2,375,908
360,591
1,858,032
2,346,409
351,745
1,794,711
-
Public Works
Community Promotion
Parks and Recreation
Capital outlay
1,794,711
311,717 354,279 310,203 976,199
Debt service
Principal
Interest and fiscal charges
Total Expenditures
155,512
2,447
10,228,258
-
-
624,000
272,474
896,474
-
-
-
-
779,512
274,921
311,717 354,279 477,170 12,267,898
Excess (Deficiency) of Revenues over Expenditures 5,188,233 (269,339) (881,355) 338,890 787,607 5,164,036

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
- 1,101,973
-
1,101,973
1,152,990
-
1,152,990
-
-
-
615,415
(1,973)
613,442
2,870,378
(3,734,906)
(864,528)
(3,732,933)
Total Other Financing Sources (Uses) (3,732,933)
Net Change in Fund Balances
Fund Balances Beginning
Fund Balances Ending
1,455,300
17,642,036
19,097,336
832,634
995,286
271,635
65,499
338,890
196,270
535,160
1,401,049
6,707,373
8,108,422
4,299,508
25,606,464
$ $ 1,827,920 $ 337,134 $ $ $ 29,905,972
The accompanying notes are an integral part of these financial statements.

Page 42 ends

Town of Yountville
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Government-Wide Statement of Activities
For the Year Ended June 30, 2023
Net Change in Fund Balances - Total Governmental Funds $ 4,299,508 Amounts reported for governmental activities in the Statement of Activities and Changes in net position were different because:

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

Capital outlay 986,176
Depreciation/amortization expense (1,440,603)
Compensated absences not required to be paid with current financial resources are not reported in the governmental funds, but are accrued as noncurrent liabilities in the Government Wide Statement Net Position. The change from prior year accrued compensated absences is reported in the applicable program expense.
32,808
Certain revenues were not recorded or recorded as unearned revenue in the governmental funds because they did not meet the revenue recognition criteria of availability. However, they were included as revenue in the Government-Wide Statement of Activities under the full accrual basis. (59,166) (14,045)
The difference between the carrying value of refunded debt and the reacquisition price is deferred and amortized over the shorter of the remaining life of the refunded debt or the refunding debt.

In governmental funds, actual contributions to benefit plans are reported as expenditures in the year incurred. However, in the government-wide statement of activities, only the current year benefit expense as noted in the plans' valuation reports is reported as an expense, as adjusted for deferred inflows and outflows of resources. 219,368
305,744
19,451
Repayment of long-term debt was an expenditure in governmental funds, but the repayment reduced long-term liabilities in the Government-Wide Statement of Net Position.

Premiums from the issuance of long-term debt are amortized over the life of the bonds in the Statement of Activities and reported as proceeds when issued in governmental funds.

Certain expenses reported in the statement of activities do not require the use of current financial resources and are not reported as expenditures in the fund statements as follows:

Other postemployment benefits 180,628
Interest expense on long-term debt was reported in the Government-Wide Statement of Activities and Changes in net position, but it did not require the use of current financial resources. Therefore, interest expense was not reported as expenditures in governmental funds. The following amount represented the net change in accrued interest from from prior year. 2,000
Change in Net Position of Governmental Activities
The accompanying notes are an integral part of these financial statements.

Page 43 ends

$ 4,531,869
Page Intentionally Left Blank

Page 44 ends

PROPRIETARY FUND FINANCIAL STATEMENTS
Water Service Fund accounts for the activities associated with providing water services.

Wastewater Fund accounts for the wastewater treatment plant and wastewater pumping stations and collection systems.

Page 45 ends

Town of Yountville
Statement of Net Position
Proprietary Funds
June 30, 2023
Business-Type Activities
Enterprise Funds
Water Wastewater
Fund Funds Total
ASSETS
Current assets:

Cash and cash equivalents
Accounts receivable
Interest receivable
Total current assets
Noncurrent assets:

Capital assets:
$ 3,114,908
168,289
18,983
$ 5,103,268
373,574
35,611
$ 8,218,176
541,863
54,594
3,302,180 5,512,453 8,814,633
Non-depreciable
Depreciable, net
Total capital assets, net
Total noncurrent assets
Total assets
- 726,560
7,658,776
8,385,336
8,385,336
13,897,789
726,560
10,555,843
11,282,403
11,282,403
20,097,036
2,897,067
2,897,067
2,897,067
$ 6,199,247 $ $

DEFERRED OUTFLOWS OF RESOURCES
Pension adjustments
OPEB adjustments
$
$
177,335
17,577
194,912
$
$
431,498
42,826
474,324
$
$
608,833
60,403
Total deferred outflows of resources 669,236

LIABILITIES
Current liabilities:

Accounts payable
Interest payable
Compensated absences, due within one year
Loans payable, due within one year
Total current liabilities
$ 250,414 $ 141,643
7,104
8,322
153,307
310,376
$ 392,057
7,104
14,832
153,307
567,300
-
6,510
-
256,924
Noncurrent liabilities:

Net OPEB liability
Net pension liability
Compensated absences, due in more than one year
Loans payable, due in more than one year
Total noncurrent liabilities
Total liabilities
5,398
366,314
19,530
-
391,242
648,166
13,150
891,046
24,967
444,288
1,373,451
1,683,827
18,548
1,257,360
44,497
444,288
1,764,693
$ $ $ 2,331,993

DEFERRED INFLOWS OF RESOURCES
Pension adjustments
OPEB adjustments
$
$
21,433
74,115
95,548
$
$
52,080
180,592
232,672
$
$
73,513
254,707
Total deferred inflows of resources 328,220

NET POSITION
Net Investment in capital assets
Unrestricted
$
$
2,897,067
2,753,378
5,650,445
$
$
7,787,741
4,667,873
12,455,614
$
$
10,684,808
7,421,251
Total net position 18,106,059
The accompanying notes are an integral part of these financial statements.

Page 46 ends

Town of Yountville
Statement of Revenues, Expenses and Changes in Fund Net Position Proprietary Funds
For the Year Ended June 30, 2023
Business-Type Activities
Enterprise Funds
Wastewater
Funds
Water
Fund Total

OPERATING REVENUES
Charges for services
Other
$ 1,758,290
2,304
$ 2,434,230
-
$ 4,192,520
2,304
Total operating revenues 1,760,594 2,434,230 4,194,824

OPERATING EXPENSES
Personnel services
Utilities
532,444
13,915
916,578
183,456
-
1,449,022
197,371
670,536
887,712
115,299
398,328
3,718,268
Purchased water 670,536
160,655
39,323
Supplies and materials
Insurance and claims
Depreciation
727,057
75,976
306,868
2,209,935
91,460
Total operating expenses 1,508,333
Operating income (loss) 252,261 224,295 476,556

NONOPERATING REVENUES(EXPENSES)
Interest expense (9,949)
53,146
43,197
(12,439)
80,116
67,677
(22,388)
133,262
110,874
Investment earnings
Total nonoperating revenues(expenses)
Income (loss) before operating transfers 295,458 291,972 587,430 Capital contributions
Transfers in
-
891,593
-
246,171
2,925
246,171
894,518
Transfers out (29,990)
219,106
(29,990)
Net contributions and transfers 891,593 1,110,699
Change in net position 1,187,051 511,078 1,698,129
Total net position - beginning
Total net position - ending
4,463,394
5,650,445
11,944,536
12,455,614
16,407,930
$ $ $ 18,106,059
The accompanying notes are an integral part of these financial statements.

Page 47 ends

Town of Yountville
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2023
Business-Type Activities
Enterprise Funds
Water Wastewater
Fund Funds Total
Cash flows from operating activities:

Receipts from customers
Payments to suppliers
Payments to employees
Net cash provided (used) by operating activities
$ 1,745,951 $ 2,388,652 $ 4,134,603
(1,975,630)
(1,593,064)
565,909
(994,730) (980,900)
(1,024,481)
383,271
(568,583)
182,638
Cash flows from noncapital financing activities:

Interfund transactions 891,593
891,593
(27,065)
(27,065)
864,528
Net cash provided (used) by noncapital financing activities 864,528 Cash flows from capital financing activities:

Acquisition of capital assets
Proceeds from capital contributions
Principal payments on long-term debt
Interest paid on long-term debt
-
-
-
(608,396)
246,171
(150,448)
(14,213)
(526,886)
(608,396)
246,171
(150,448)
(24,162)
(536,835)
(9,949)
Net cash provided (used) by capital financing activities (9,949) Cash flows from investing activities:

Investment income (loss) 36,818
36,818
52,604
52,604
89,422
Net cash provided (used) by investing activities 89,422 Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents - beginning
Cash and cash equivalents - ending
1,101,100
2,013,808
3,114,908 $ 5,103,268
(118,076)
5,221,344
983,024
7,235,152
$ 8,218,176
$
$
$
Reconciliation of operating income to net cash provided (used) by operating activities:

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

Depreciation
252,261
91,460
$ 224,295
306,868
476,556
398,328
Change in operating assets and liabilities:

Accounts receivables
Deferred outflows of resources
Accounts payable
Compensated absences
Net OPEB liability
(14,643)
(89,271)
(110,301)
1,427
(10,386)
205,710
(143,619)
182,638
(45,578)
(217,518)
5,589
(16,369)
(25,307)
501,237
(349,946)
383,271
(60,221)
(306,789)
(104,712)
(14,942)
(35,693)
Net pension liability 706,947
Deferred inflows of resources
Net cash provided (used) by operating activities
(493,565)
$ $ $ 565,909
The accompanying notes are an integral part of these financial statements.

Page 48 ends

FIDUCIARY FUND FINANCIAL STATEMENTS
OPEB Trust Funds
Other Postemployment Benefit Trust Fund accounts for contributions made to the Town's established IRC section 115 irrevocable trust fund with PARS (Public Agency Retirement Services) created as part of the Town's OPEB (other postemployment benefits) funding policy.

Custodial Funds
Custodial Funds accounts for assets collected on behalf of the Napa Valley Tourism Improvement District.

Page 49 ends

Town of Yountville
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2023
Napa Valley
Tourism
Other
Postemployment
Benefit
Improvement
District
Custodial
Trust Fund
ASSETS
Cash and investments
Assessments receivable
Interest receivable
Investments at fair value:

PARS Mutual Fund
Total assets
$
$
-
-
-
$
$
530,756
193,573
3,206
5,698,124
5,698,124
-
727,535

LIABILITIES
Accounts payable
Total liabilities
$
$
-
-
$
$
208,902
208,902

NET POSITION
Restricted for Napa Valley Tourism Imp. District
Restricted for other postemployment benefits
Total Net Position
$
$
- $
$
518,633
-
518,633
5,698,124
5,698,124
The accompanying notes are an integral part of these financial statements.

Page 50 ends

Town of Yountville
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2023
Napa Valley
Tourism
Other
Postemployment
Benefit
Improvement
District
Custodial
Trust Fund

ADDITIONS
Assessments
Employer contributions
Investment income:
$ - $ 1,458,432
297,365 -
Net increase (decrease) in fair value and investment earnings Investment fees
425,823
(29,390)
396,433
693,798
8,947
-
Net investment earnings (losses)
Total additions
8,947
1,467,379

DEDUCTIONS
Payment to Town to reimburse benefits paid
Payments of assessments to other governments
Other deductions
180,319 -
-
-
1,392,897
14,496
Total deductions 180,319 1,407,393
Change in net position 513,479
5,184,645
5,698,124
59,986
458,647
518,633
Total net position - beginning
Total net position - ending $ $
The accompanying notes are an integral part of these financial statements.

Page 51 ends

Page Intentionally Left Blank

Page 52 ends

NOTES TO THE BASIC

FINANCIAL STATEMENTS

Page 53 ends

Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the Town of Yountville, California, (the Town) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental agencies.

The Governmental Accounting Standards Boards (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the Town's accounting policies are described below.

A. Financial Reporting Entity
The Town of Yountville is a municipal corporation governed by an elected mayor and four-member council. The Town provides customary municipal services including general governmental activities, law enforcement, fire and emergency services, streets, maintenance, parks and recreation activities, water and wastewater utility services. Public safety police and fire services are provided to the Town through contractual arrangements with the County of Napa. Accordingly, the Town does not employ resident public safety personnel. The Town and State of California, Department of Veterans Affairs, have an agreement, which provides for the operation of a joint wastewater treatment facility. Under the agreement, the Town purchased the State’s then existing treatment plant and land for a price equal to 50 percent of its wastewater treatment plant and facility. Under the agreement, the Town’s plant is to provide capaTown in the treatment facility for a maximum daily flow capaTown not to exceed one million gallons per day originating from the Veterans Home of California. Under the agreement, the State of California is to pay an annual service charge to the Town for a pro rata share of the cost of operating and maintaining the Town’s treatment facility. The State of California is also to pay annually to the Town capital replacement charges, which are to be matched in an equal amount by the Town.

The Town and Veterans Home of California also have a water purchase agreement whereby the Town purchases water from the Veterans Home Rector Reservoir for use in the Town’s municipal water enterprise. The Town’s obligations to pay for purchased water are allowed to be offset against the obligations of the State of California to the Town for wastewater treatment services purchased by the State.

As required by GAAP, these basic financial statements present the Town and its component units, entities for which the Town is considered to be financially accountable. The Town Council acts as the governing board. In addition, the Town staff performs all administrative and accounting functions for these entities and these entities provide their services entirely to the Town. Blended component units, although legally separate entities are, in substance, part of the Town's operations and data from these units are combined with data of the Town. Discretely presented component units, on the other hand, are reported in a separate column in the government-wide financial statements to emphasize their legal separateness from the Town. Each blended component unit has a June 30 year-end. The following entities are reported as blended component units:

Yountville Financing Authority
The Yountville Financing Authority was established solely to assist the Town in the issuance of certain revenue bonds. It is controlled by and financially dependent on the Town; its financial activities were accounted for in the Debt Service Fund. The Town Council members serve as the Board of the Yountville Financing Authority.

Page 54 ends

Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Yountville Housing Authority
The Yountville Housing Authority was established to promote and assist in the development of affordable housing. It is controlled by and financially dependent on the Town; its financial activities were accounted for in the Housing Opportunity Fund. The Town Council members serve as the Board of the Yountville Housing Authority.

The Town of Yountville annually contracts with the City of Napa for Affordable Housing services. The Town's Housing Programs, which are required with the Town's General Plan Housing Element by the State of California, require subsidy from the General Fund to support mandatory and necessary operations.

Yountville Parking Authority
The Yountville Parking Authority was formed as a joint exercise powers agency (JPA) organized under the laws of the State of California. The Parking Authority is authorized to own, hold, and improve real or personal property and to purchase, lease, obtain an option upon, acquire by gift, grant, bequest, devise, or otherwise, any real or personal property or any interest in property and sell, lease, exchange, transfer, assign, pledge, or dispose of any real or personal property or any interest or right for the purpose of providing and maintaining parking facilities pursuant to the provisions of the California Streets and Highways Code. The Town Council serves as the Board of the Parking Authority. It is controlled by and financially dependent on the Town; its financial activities were accounted for in the Debt Service Fund.

Town of Yountville Community Foundation
The Town of Yountville Community Foundation was formed by reorganization of the Yountville School Foundation (Community Foundation). The Community Foundation provides cultural arts programs, music, visual, and performing arts programs, and other services to the Town of Yountville. The Town provides accounting services to the Foundation. The Town controls the appointment of members of the Community Foundation’s Board. The Community Foundation provides services entirely for the benefit of the Town.

Separate financial statements are not issued by the Town for these component units.

The Town applies all applicable GASB pronouncements for certain accounting and financial reporting guidance. In December of 2010, GASB issued Statement No. 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements.

GASB 62 incorporates pronouncements issued on or before November 30, 1989 into GASB authoritative literature. In June of 2015, GASB issued Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments. GASB 76 supersedes Statement No. 55, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments. GASB 76 also amends GASB 62 and AICPA Pronouncements paragraphs 64, 74, and 82. The GAAP hierarchy sets forth what constitutes GAAP for all state and local governmental entities. It establishes the order of priority of pronouncements and other sources of accounting and financial reporting guidance that a governmental entity should apply. The sources of authoritative GAAP are categorized in descending order of authority as follows:
a. Officially established accounting principles—Governmental Accounting Standards Board (GASB) Statements (Category A)
b. GASB Technical Bulletins; GASB Implementation Guides; and literature of the AICPA cleared by the GASB (Category B).

Page 55 ends

Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
If the accounting treatment for a transaction or other event is not specified by a pronouncement in Category A, a governmental entity should consider whether the accounting treatment is specified by a source in Category B.

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

Government-Wide Financial Statements
The Town's government-wide financial statements include a Statement of Net Position and a Statement of Activities and Changes in Net Position. These statements present summaries of governmental and business-type activities for the Town. Fiduciary activities of the Town are not included in 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.

These statements are presented on an "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all of the Town's assets, deferred outflows of resources, liabilities, deferred inflows of resources, are included in the accompanying Statement of Net Position. The Statement of Activities presents changes in net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. The Statement of Activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those clearly identifiable with a specific function or segment. Certain types of transactions are reported as program revenues for the Town in three categories:



Charges for services
Operating grants and contributions
Capital grants and contributions
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the fiduciary funds are excluded from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements.

Certain eliminations have been made as prescribed by GASB Statement No. 34 in-regards-to interfund activities, payables, and receivables. All internal balances in the Statement of Net Position have been eliminated except those representing balances between the governmental activities and the business-type activities, which are presented as internal balances and eliminated in the total primary government column. In the Statement of Activities, internal fund transactions have been eliminated; however, those

Page 56 ends

Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
transactions between governmental and business-type activities have not been eliminated. The following interfund activities have been eliminated:
 Transfers in/Transfers out
The Town applies all applicable GASB Pronouncements including all Interpretations currently in effect.

Governmental Fund Financial Statements
Governmental fund financial statements include a Balance Sheet and a Statement of Revenues, Expenditures and Changes in Fund Balances for all major governmental funds and non-major funds aggregated. An accompanying schedule is presented to reconcile and explain the differences in net position as presented in these statements to the net position presented in the government-wide financial statements. The Town has presented all major funds that met the applicable criteria.

All governmental funds are accounted for on a spending or "current financial resources" measurement focus and the modified accrual basis of accounting. Accordingly, only current assets, deferred outflows of resources, current liabilities, and deferred inflows of resources are included on the balance sheets. The Statement of Revenues, Expenditures and Changes in Fund Balances present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets.

Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period.

Accordingly, revenues are recorded when received in cash, except that revenues subject to accrual (up to 90 days after year-end) are recognized when due. The primary revenue sources, which have been treated as susceptible to accrual by the Town, are property taxes, taxpayer-assessed tax revenues (sales taxes, transient occupancy taxes, etc.), licenses, grant revenues and earnings on investments. Expenditures are recorded in the accounting period in which the related fund liability is incurred.

Unearned revenues arise when potential revenues do not meet both the "measurable" and "available" criteria for recognition in the current period. Unearned revenues also arise when the government receives resources before it has a legal claim to them, as when grant monies are received prior to incurring qualifying expenditures. In subsequent periods when both revenue recognition criteria are met or when the government has a legal claim to the resources, the unearned revenue is removed from the combined balance sheet and revenue is recognized.

The Town reports the following funds as major funds:

General Fund
The General Fund is the general operating fund of the Town. It is used for all financial resources except those required to be accounted for in another fund.

Capital Projects Fund
The Capital Projects Fund accounts for the resources accumulated for the acquisition of fixed assets or construction of major capital projects not being financed by proprietary funds. Significant maintenance projects and major purchases of equipment are also accounted for in the capital projects fund.

Page 57 ends

Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Debt Service Fund
The Debt Service Fund is used to accumulate resources for repayment of the revenue bonds and capital lease arrangements.

Measure T Fund
The Measure T Fund is used to account for revenue received from the Measure T Ordinance (Napa Countywide Road Maintenance Act) that collects a half cent sales tax going toward projects that improve streets, sidewalks, and related street infrastructure improvements.

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

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

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

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

Revenues are recognized when they are earned and expenses are recognized when the related goods or services are delivered. In the fund financial statements, proprietary funds are presented using the “economic resources measurement focus”. This means all assets, deferred outflows of resources, liabilities (whether current or noncurrent) and deferred inflows of resources associated with their activities are included on their balance sheets. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in total net position.

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

The Town has the following enterprise funds that have been reported as major:

Water Fund
The Water Fund accounts for the activities associated with providing water services.

Wastewater Fund
The Wastewater Service Fund accounts for the wastewater treatment plant and wastewater pumping stations and collection systems.

Fiduciary Fund Financial Statements
Fiduciary fund financial statements consist of a Statement of Fiduciary Net Position and a Statement of Changes in Fiduciary Net Position. OPEB Trust Funds are used to report resources that are required to be

Page 58 ends

Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
held in trust by the Town for the members and beneficiaries of defined benefit OPEB plans and defined contribution OPEB plans. Custodial funds are used by the Town to report activity relating to amounts collected and distributed by the Town for outside parties based on agreements. Fiduciary funds are accounted for using the accrual basis of accounting using the economic resources measurement focus.

The Town reports the following fiduciary funds:

Other Postemployment Benefit Trust Fund
The Other Postemployment Benefit Trust Fund accounts for assets held in trust for employee health benefits.

Tourism Improvement District Custodial Fund
The Tourism Improvement District Agency Fund accounts for assets held by the Town on behalf of the Napa Valley Tourism Improvement District.

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

The Town's cash and cash equivalents are considered to be cash on hand, demand deposits, and shortterm investments with original maturity of three months or less from the date of acquisition. Cash and cash equivalents are combined with investments and displayed as Cash and Investments. For the purpose of the statement of cash flows, the Town considers all pooled cash and investments (consisting of cash and investments and restricted cash and investments) held by the Town as cash and cash equivalents because the pool is used essentially as a demand deposit account from the standpoint of the funds. The Town also considers all non-pooled cash and investments (consisting of cash with fiscal agent and restricted cash and investments held by fiscal agent) as cash and cash equivalents because investments meet the criteria for cash equivalents defined above.

Deposit and Investment Risk Disclosures - In accordance with GASB Statement No. 40, Deposit and Investment Disclosures (Amendment of GASB Statement No. 3), certain disclosure requirements, if applicable, for Deposits and Investment Risks in the following areas: Interest Rate Risk, Overall Credit Risk, Custodial Credit Risk, Concentrations of Credit Risk, and Foreign Currency Risk.

Other disclosures are specified including use of certain methods to present deposits and investments, highly sensitive investments, credit quality at year-end and other disclosures. The Town participates in an investment pool managed by the State of California titled Local Agency Investment Fund (LAIF), which has invested a portion of the pool funds in Structured Notes and Asset Backed Securities. LAIF's investments are subject to credit risk with the full faith and credit of the State of California collateralizing these investments. In addition, these Structured Notes and Asset-Backed Securities are subject to market risk as to change in interest rates.

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

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction. In determining this amount, three valuation techniques are available:
 Market approach - This approach uses prices generated for identical or similar assets or liabilities.

The most common example is an investment in a public security traded in an active exchange such as the NYSE.


Cost approach - This technique determines the amount required to replace the current asset. This approach may be ideal for valuing donations of capital assets or historical treasures.

Income approach - This approach converts future amounts (such as cash flows) into a current discounted amount.

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

C. Restricted Cash and Investments
Certain restricted cash and investments are held by fiscal agents for the redemption of bonded debt, for acquisition and construction of capital projects, and to meet bond indenture debt reserve requirements. Cash and investments are also restricted for deposits held for others within the enterprise funds. Amounts held in Trust for pension stabilization are also reported as restricted cash and investments.

D. Interfund 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.” Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-wide financial statements as “internal balances.” Advances between funds, as reported in the fund financial statements, are offset by a fund balance reserve account in applicable government funds to indicate that they are not available for appropriation and are not expendable available financial resources. The Town considers all trade and property tax receivables to be fully collectible and therefore no allowance for uncollectible accounts is considered necessary.

E. Receivables
Billed, but unpaid, services provided to individuals or non-governmental entities are recorded as accounts receivable. Revenues earned but not collected by year-end are accrued. No allowance for uncollectible accounts receivable has been provided as management has determined that uncollectible accounts have historically been immaterial and the direct write-off method does not result in a material difference from the allowance method.

F. Loans Receivable
Under the Town’s housing opportunity program, loans are made to qualified individuals and businesses within prescribed project areas for the purpose of housing acquisition, housing rehabilitation and/or economic development. Repayments of the outstanding loans are classified as a revenue source in the applicable funds. The portion of loans receivable deemed to be unavailable have been offset by

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Unavailable Revenues in the accompanying financial statements, which is a part of deferred inflows of resources.

G. Leases Receivable
The Town’s lease receivable is measured at the present value of lease payments expected to be received during the lease term. A deferred inflow of resources is recorded for the lease. The deferred inflow of resources is recorded at the initiation of the lease in an amount equal to the initial recording of the lease receivable plus incentive payments received. The deferred inflow of resources is amortized on a straightline basis over the term of the lease. If there is no stated rate in the lease contract (or if the stated rate is not the rate the Town charges the lessee) and the implicit rate cannot be determined, the Town uses its own estimated incremental borrowing rate as the discount rate to measure lease receivables. The Town’s estimated incremental borrowing rate is based on its actual incremental borrowing rate for the most recent debt issuance.

H. Capital Assets
Capital assets used in governmental fund operations, including infrastructure assets (i.e. roads, curbs, gutters, bridges, sidewalks, drainage systems, lighting systems, and other assets) are reflected in the government-wide financial statements, along with related depreciation. Capital assets are defined by the Town as assets with an initial individual cost of more than $10,000 ($25,000 for infrastructure type assets and $50,000 for intangible assets) and an estimated life in excess of 1 year. Purchased capital assets are valued at historical cost or estimated historical cost. Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are valued at acquisition value on the date donated. Capital assets acquired under financed or purchase agreements are capitalized when the Town accumulates an ownership equity in the assets acquired.

The purpose of depreciation is to spread the cost of capital assets equitably among all users over the life of these assets. The amount charged to depreciation expense each year represents that year’s pro rata share of the cost of capital assets. Depreciation is provided using the straight-line method whereby the cost of the asset is divided by its expected useful life in years and the result is charged to expense each year until the asset is fully depreciated. Depreciation is recorded on a straight-line basis over the useful lives of the assets as follows:

Buildings 30 Years
15-20 Years
50 Years
20-100 Years
7 Years
Building improvements
Public domain infrastructure
System infrastructure
Vehicles
Office equipment
Automobiles and Trucks
3-7 Years
3-5 Years
Intangible right-to-use lease assets are amortized over the shorter of the lease term or the useful life of the underlying asset, unless the lease contains a purchase option that the Town has determined is reasonably certain of being exercised, then the lease asset is amortized over the useful life of the underlying asset.

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

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase is reflected in the capitalized value of the asset constructed, net of interest earned on the invested proceeds over the same period.

I. Deferred Outflows/Deferred Inflows
In addition to assets, the statement of financial position or balance sheet will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets or fund balance that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of financial position or 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 or fund balance that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

J. Interest Payable
In the government-wide and proprietary fund financial statements, interest payable of long-term debt is recognized as an incurred liability for governmental fund types. The Town has not allocated the interest on long-term debt to departments. In the fund financial statements, governmental fund types do not recognize the interest payable when the liability is incurred. Interest on long-term debt is recorded in the fund statements when payment is made.

K. Compensated Absences
It is the Town’s policy to permit employees to accumulate earned but unused vacation and sick pay benefits. There is no liability for unpaid accumulated sick leave since the Town does not have a policy to pay any amounts when employees separate from service with the Town. All vacation pay is accrued when incurred in the government-wide and proprietary fund 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 or the Town believes it will have to use current resources to liquidate such obligations. Compensated absences in the governmental activities are liquidated primarily by using general fund resources.

L. Long-Term Liabilities
In the government-wide financial statements and proprietary fund statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental or business-type activities.

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. Debt issuance costs are expensed in 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 financial sources. Premiums received on debt issuance are reported as other financing sources while discounts on debt issuance reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
M. Subscription Based Information Technology Arrangements The Town recognizes subscription liabilities with an initial, individual value of $50,000 or more. The Town uses its estimated incremental borrowing rate to measure subscription liabilities unless it can readily determine the interest rate in the arrangement. The Town's estimated incremental borrowing rate is calculated as described in section G, Leases Receivable.

N. Benefit Plans
Pension Expense
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Town’s California Public Employees’ Retirement System (CalPERS) plans (the Plans) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by CalPERS.

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

Other Postemployment Benefit (OPEB) Expense
For purposes of measuring the net 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 Town’s Retiree Benefits Plan (the OPEB Plan) and additions to/deductions from the OPEB Plan's fiduciary net position have been determined on the same basis as they are reported by the OPEB Plan. For this purpose, the OPEB Plan recognizes benefit payments when due and payable in accordance with the benefit terms.

Investments are reported at fair value. 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 January 1, 2022
Measurement Date
Measurement Period
June 30, 2023
June 30, 2022 to June 30, 2023
O. Fund Balances
In accordance with Government Accounting Standards Board 54, Fund Balance Reporting and Governmental Fund Type Definitions, the Town classifies governmental fund balances as follows:

Nonspendable
Nonspendable fund balance represents balances set aside to indicate items that do not represent available, spendable resources even though they are a component of assets. Fund balances required to be maintained intact, such as Permanent Funds, and assets not expected to be converted to cash, such as prepaids, notes receivable, leases receivable in excess of deferred inflows of resources and land held for redevelopment are included. However, if proceeds realized from the sale or collection of nonspendable assets are restricted, committed, or assigned, then Nonspendable amounts are required to be presented as a component of the applicable category.

Restricted
Restricted fund balances have external restrictions imposed by creditors, grantors, contributors, laws, regulations, or enabling legislation which requires the resources to be used only for specific purpose.

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Encumbrances and nonspendable amounts subject to restrictions are included along with spendable resources.

Committed
The Town Council, as the Town’s highest level of decision making authority, may commit fund balance for specific purposes pursuant to the constraints imposed by formal actions taken, such as an ordinance or resolution. These committed amounts cannot be used for any other purpose unless the Town Council removes or changes the specified use through the same type of formal action taken to establish the commitment. Town Council action to commit fund balance needs to occur within the fiscal reporting period; however the specific amounts can be determined subsequently. Encumbrances and nonspendable amounts subject to Council commitments are included along with spendable resources.  Emergency Reserve Fund
The Town’s General Fund balance committed for emergency reserves is established at a minimum of 20% of General Fund operating expenditures. The calculation and review of the 20% minimum will be part of the proposed budget each fiscal year. Use of the General Fund Emergency Reserve would be appropriate if the Town declared a state or federal emergency or declaration of a local emergency as defined in the Yountville Municipal Code Section 2.52.020:

2.52.020 Emergency defined:

As used in this chapter, “emergency” means the actual or threatened existence of conditions of disaster or of extreme peril to the safety of persons and property within the Town caused by such conditions as air pollution, fire, flood, storm, epidemic, riot or earthquake, or other conditions, including conditions resulting from a labor controversy, which conditions are or are likely to be beyond the control of the services, personnel, equipment and facilities of the Town, requiring the combined forces of other political subdivisions to combat. (Ord. 225, 1991; Ord. 294-99).

Assigned
Assigned fund balances are amounts constrained by the Town’s intent to be used for a specific purpose, but are neither restricted nor committed. Intent is expressed by the Town Council or its designee and may be changed at the discretion of the Town Council or its designee. This category includes encumbrances; nonspendable amounts, when it is the Town’s intent to use proceeds or collections for a specific purpose, and residual fund balances, if any, of Special Revenue, Capital Projects, and Debt Service Funds, which have not been restricted or committed. The Town Council has not delegated the authority to make assignments of fund balance, and assign fund balance by majority vote.

Unassigned
Unassigned fund balance represents residual amounts that have not been restricted, committed, or assigned. This includes the residual general fund balance and residual fund deficits, if any, of other governmental funds.

Flow Assumption / Spending Order Policy
When expenditures are incurred for purposes for which both restricted and unrestricted fund balance is available, the Town considers restricted funds to be spent first. When expenditures are incurred for which committed, assigned, or unassigned fund balances are available, the Town considers amounts to be spent first out of committed funds, then assigned funds, and finally unassigned funds, as needed, unless the Town Council has directed otherwise.

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
P. Net Position
In the government-wide financial statements, net position is classified in the following categories:

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

Unrestricted Net Position
This amount is all net position that does not meet the definition of "net investment in capital assets" or "restricted net position." The detail of amounts reported for each of the above defined net position categories is reported in the government-wide Statement of Net Position.

Use of Restricted/Unrestricted Net Position
When an expense is incurred for purposes for which both restricted and unrestricted net position are available, the Town's policy is to apply restricted net position first.

Q. Interfund Transactions
Interfund services provided and used are accounted for as revenue, expenditures or expenses, as appropriate. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursed fund. All other interfund transactions, except for interfund services provided and used and reimbursements, are reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as transfers.

R. Property Taxes and Special Assessments
Property taxes are levied as of January 1 on property values assessed as of the same date. State statutes provide that the property tax rate be limited generally to one percent of market value, be levied by only the County, and be shared by applicable jurisdictions. The County of Napa collects the taxes and distributes them to taxing jurisdictions on the basis of assessed valuations subject to voter-approved debt.

Property taxes are due on November 1 and March 1, and become delinquent on December 10 and April

10. The Town receives property taxes pursuant to an arrangement with the County known as the “Teeter Plan”. Under the plan, the County assumes responsibility for the collection of delinquent taxes and pays the full allocation to the Town. The Town recognizes property tax revenues in the fiscal year in which they are due to the Town.

S. Budgetary Information
The Town adopts a budget annually for all governmental fund types. This budget is effective July 1 for the ensuing fiscal year. From the effective date of the budget, which is adopted at the fund level, the amounts stated therein as proposed expenditures become appropriations to the various Town departments.

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
The legal level of budgetary control is the fund level. The Town Council may amend the budget by resolution during the fiscal year. The Town Manager has the authority to make adjustments to the operating budget between departments within the same fund. Transfers of operating budgets between funds, use of unappropriated fund balances, and significant changes in capital improvement project budgets require the approval of the Town Council. The Town’s basis of budgeting is the same as GAAP.

T. Encumbrances
Under encumbrance accounting, purchase orders, contract and other commitments for expenditures are recorded in order to commit that portion of the applicable appropriation. Encumbrance accounting is employed as an extension of formal budgetary integration in all funds. All appropriations and encumbrances lapse at year end, valid outstanding encumbrances (those for which performance under the executory contract is expected in the next year) are re-appropriated and become part of the subsequent year’s budget pursuant to state regulations.

U. Unearned Revenue
Unearned revenue arises when assets are received before revenue recognition criteria have been satisfied.

Grants and entitlements received before eligibility requirements are met are recorded as deferred inflows from unearned revenue. In the governmental fund financial statements, receivables associated with nonexchange transactions that will not be collected within the availability period have been recorded as deferred inflows from unavailable revenue.

V. Use of Estimates
The preparation of basic financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

W. Implementation of New Accounting Pronouncements
During the year, the Town implemented GASB Statement No. 96, Subscription-based Information Technology Arrangements. GASB Statement No. 96 is an accounting pronouncement issued by the Governmental Accounting Standards Board (GASB) that provides guidance on how the costs and investments for subscription-based information technology arrangements (SBITAs) are accounted for and disclosed by governmental entities. This Statement (1) defines a SBITA; (2) establishes that a SBITA results in a right-to-use subscription asset—an intangible asset—and a corresponding subscription liability; (3) provides the capitalization criteria for outlays other than subscription payments, including implementation costs of a SBITA; and (4) requires note disclosures regarding a SBITA. To the extent relevant, the standards for SBITAs are based on the standards established in Statement No. 87, Leases, as amended. As a result, the Town recorded intangible right of use subscription assets of $473,768 and corresponding subscription lease liabilities of $473,768. The details of the related assets and liabilities can be found in Notes 6 and 7.

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Upcoming New Accounting Pronouncements
The Town is currently analyzing its accounting practices to determine the potential impact on the financial statements of the following recent GASB Statements:

GASB Statement No. 100, Accounting Changes and Error Corrections – an amendment of GASB Statement No. 62, effective fiscal 2024.

This statement enhances accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent, and comparable information for making decisions or assessing accountability. GASB 100 also requires disclosure in notes to financial statements of descriptive information about accounting changes and error corrections, such as their nature. And, GASB 100 addresses how information that is affected by a change in accounting principle or error correction should be presented in required supplementary information (RSI) and supplementary information (SI).

GASB Statement No. 101, Compensated Absences, effective fiscal 2025.

Updates the recognition and measurement guidance for compensated absences by:

1. Aligning the recognition and measurement guidance under a unified model

2. Amending certain previously required disclosures

3. Amends the existing requirement to disclose the gross increases and decreases in a liability for compensated absences to allow governments to disclose only the net change in the liability

4. Supersedes GASB 16
NOTE 2 - CASH AND INVESTMENTS
As of June 30, 2023, cash and investments were reported in the financial statements as follows:

Government Wide
Statement of Net Position Fiduciary Funds
Statement of Net
Position
Governmental
Activities
23,268,923
3,342,582
-
Business-Type
Activities Total
Cash and investments $
$
$
$
8,218,176 $ 530,756
-
$
$
32,017,855
3,342,582
5,698,124
41,058,561
Restricted cash and investments
PARS Pooled Investment funds
Total cash and investments
-
- 5,698,124
26,611,505 8,218,176 $ 6,228,880

Page 67 ends

Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Cash and investments consisted of the following as of June 30, 2023:

Deposits:

Cash on hand
Deposits with financial institutions
Total Deposits
$ 425
5,246,367
5,246,792
Investments:

Local Agency Investment Fund
Total City Treasury
26,771,063
32,017,855
Restricted cash and investments:

Cash with fiscal agent 3,342,582
PARS Pooled Investment funds 5,698,124
Total cash and investments $ 41,058,561
A. Cash Deposits
The California Government Code requires California banks and savings and loan associations to secure the Town's cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest, and places the Town ahead of general creditors of the institution.

The fair value of pledged securities must equal at least 110 percent of the Town's cash deposits.

California law also allows institutions to secure Town deposits by pledging first trust deed mortgage notes that have a value of 150 percent of the Town's total cash deposits. The Town has waived the collateral requirements for cash deposits which are fully insured to $250,000 by the Federal Deposit Insurance Corporation (FDIC).

The bank balances before reconciling items totaled $6,069,900 at June 30, 2023 and were different from carrying amounts due to deposits in transit and outstanding checks. The amount uninsured was $5,819,900, which was collateralized by securities held by pledging financial institutions. The Town follows the practice of pooling cash and investments of all funds, except for funds required to be held by fiscal agents under the provisions of bond indentures. Interest income earned on pooled cash and investments is allocated to the various funds based on the period-end cash and investment balances.

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

B. Fair Value Measurements
GASB 72 established a hierarchy of inputs to the valuation techniques with three levels:


Level 1 inputs are quoted prices in active markets for identical assets or liabilities.

Level 2 inputs are quoted market prices for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other than quoted prices that are not observable
 Level 3 inputs are unobservable inputs, such as a property valuation or an appraisal.

The Town’s investments were not subject to levelling.

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
C. Investment Policies
Town Investment Policy
Under the provisions of the Town's investment policy, and in accordance with California Government Code, the following investments are authorized:

Maximu m Maximu m
Maximu m
Maturity
n/a
Percentage of Investment in
Authorized Investment Type
Securities issued by the U.S. Treasury
U.S. Agency Securities and Instrumentalities
Local Agency Investment Fund
Insured Savings Accounts
Portfolio
No limit
No limit
No limit
No limit
No limit
40%
One Issuer
No limit
n/a No limit
n/a No limit
n/a No limit
California Asset Management Program(CAM
Banker's acceptances
n/a No limit
180 Days
n/a
5% of portfolio
5% of portfolio
5% of portfolio
5% of portfolio
5% of portfolio
5% of portfolio
Time Deposits 25%
Money Market/Mutual Funds
Prime Commercial Paper
n/a 15%
270 Days
5 Years
n/a
25%
Medium-termCorporate Notes
Negotiable Certificates of Deposit
30%
30%
Investment income in all funds included investment income of $1,181,844.

The Town’s portfolio value fluctuates in an inverse relationship to any change in interest rate.

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

D. External Investment Pool
The Town's investments with LAIF at June 30, 2023, include a portion of the pool funds invested in Structured Notes and Asset-Backed Securities. These investments include the following:

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

Asset-Backed Securities
The bulk of asset-backed securities are mortgage-backed securities, entitle their purchasers to receive a share of the cash flows from a pool of assets such as principal and interest repayments from a pool of mortgages (such as CMO's) or credit card receivables.

LAIF is overseen by the Local Agency Investment Advisory Board, which consists of five members, in accordance with State statute. The approved investments policy is listed on the LAIF website, located at http://www.treasurer.ca.gov/pmia-laif/.

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
E. Risk Disclosures
Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the term of an investment’s maturity, the greater the sensitivity to changes in market interest rates. It is the Town’s practice to mitigate interest rate risk by limiting the average maturity of the Town’s portfolio to not to exceed three years.

Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of an investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. With the exception of U.S. Treasury securities and authorized pools, no more than 50% of the Town’s total investment portfolio will be invested in a single security type or with a single financial institution to reduce the Town’s exposure to credit risks. As of June 30, 2023, the Town’s investments were in compliance with the ratings required by the Town’s investment policy and Government Code.

Concentrations of Credit Risk
The investment policy of the Town contains no limitations on the amount that can be invested in any one issuer beyond that stipulated by the California Government Code. As of June 30, 2023, the Town had no investments in any one issuer (other than U.S. Treasury securities, mutual funds and external investment pools) that represented 5% or more of the total Town investments.

Custodial Credit Risk
For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the Town will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The California Government Code and the Town's investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for investments. With respect to investments, custodial credit risk generally applies only to direct investments in marketable securities. Custodial credit risk does not apply to a local government's indirect investment in securities through the use of mutual funds or government investment pools (such as LAIF).

As of June 30, 2023, the Town’s investments had the following maturities:

Investment Type
Local Agency Investment Funds
Total Investments
12 Months or Less Fair Value
26,771,063
26,771,063
$ 26,771,063
26,771,063
$
$ $

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
F. Investments Held in Trust for Other Postemployment Benefits The Town established an irrevocable Section 115 OPEB Trust with Public Agency Retirement Services (PARS). As of June 30, 2023, the trust had a balance of $5,698,124. PARS’ policy for allocation of invested assets was as follows:

Percentage of
Asset Class
Fixed Income
Public Equity
Liquidity
Portfolio

35.00%

60.00%

5.00%
Total 100.00%
At June 30, 2023, PARS held no investments in any one organization that represented 5% of more of fiduciary net position.

Rate of return
For the year ended June 30, 2023, the annual money-weighted rate of return on investments, net of investment expenses, was 5%. The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested.

NOTE 3 - LEASES RECEIVABLE
In May of 2020, the Town entered into a lease with Restoration Hardware (the Company). Under the lease, the Company pays the Town $66,986 per year, plus annual CPI adjustments, for fifteen years to rent land for a parking lot. After cumulative CPI adjustments, the payment in the final year of the lease may be as much as $101,322. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 3%, which is the stated rate in the agreement.

In fiscal year 2023, the Town recognized $67,957 of lease revenue and $26,596 of interest revenue under the lease. The net present value of the lease receivable as of June 30, 2023 was $862,344 which was offset by a deferred outflow of resources of $815,484, net of amortization totaling $67,957.

In July of 2021, the Town entered into a lease with the United States Postal Office (USPS). Under the lease, USPS pays the Town $180,000 per year for five years with an option to extend the lease for an additional five years at $194,400 per year. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 3.127%, which is the Town’s incremental borrowing rate for this agreement. The lease commenced on July 1, 2022.

In fiscal year 2023, the Town recognized $160,098 of lease revenue and $48,184 of interest revenue under the lease. The net present value of the lease receivable as of June 30, 2023 was $1,469,167 which was offset by a deferred outflow of resources of $1,440,885, net of amortization totaling $160,098.

NOTE 4 - LOANS RECEIVABLE
The $1,844,131 in loans receivable held by the Town as of June 30, 2023, consists primarily of a $1,100,000 note related to an affordable housing project developed within the Town. The note bears no

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
interest and matures in 2066. The note is secured by a deed of trust and assignment of rents, and is subordinate to a first and second deed of trust from other parties having provided financing for the project. Housing notes totaling $406,525 consists of three notes with a principal balance of $203,500 plus earned interest of $157,425, all deferred and payable at maturity or upon transfer or sale of the underlying property, and one note with a principal balance of $45,600 due July 1, 2042, which is payable in monthly installments with zero interest. The remaining notes totaling $337,606, consists of two Measure S affordable housing loans with original principal issuances of $340,635. One of the Measure S loans bears interest at 2% per annum and the other bears no interest.

NOTE 5 - INTERFUND TRANSACTIONS
Inter-fund Receivables and Payables
Amounts due to or due from other funds reflect inter-fund balances for services rendered or short-term loans expected to be repaid in the next fiscal year. Advances to or from other funds are long-term loans between funds that are to be repaid in their entirety over several years. As of June 30, 2023, inter-fund receivables and payables consisted of the following:

Due from
Other Funds
-
Due to
Other Funds
1,215
Fund
General Fund
Nonmajor Funds
Total Due from/to
$
$
$
$
1,215
1,215
-
1,215
During the year ended June 30, 2021, the Town loaned $1.1 million from the Drought Water Reserve Fund to the Water Capital Improvement Fund at 1% interest. The loan was fully paid during fiscal year 2022-23.

Transfers In/Out
With Council approval resources may be transferred from one fund to another. Transfers from the General Fund to the Debt Service Fund were to regular debt service activity of the Town. Transfers from the General Fund to other governmental funds were to provide funding to repair and replacement funds and to provide funding for Town programs. Transfers made from the Wastewater Enterprise Fund to the Debt Service Funds were to provide for debt service requirements.

The following summarizes transfers between funds during the fiscal year ended June 30, 2023:

Fund Transfer in
-
Transfer out
General Fund
Capital Projects Fund
Debt Service Fund
Nonmajor Funds
Water Fund
$
$
$
$
3,732,933
1,101,973
1,152,990
615,415
891,593
2,925
-
-
1,973
-
29,990
3,764,896
Wastewater Fund
Total transfers 3,764,896

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
NOTE 6 - CAPITAL ASSETS
Capital assets for governmental activities consisted of the following as of June 30, 2023:

Balance Balance
Governmental Activities
Non-depreciable:

July 1, 2022 Additions Deletions June 30, 2023
Land $ 1,725,152
71,045
1,796,197
$ - $ - $ 1,725,152
52,721
1,777,873
Construction in progress
Total non-depreciable
Depreciable/amortizable:

Intangible assets:
364,078
364,078
(382,402)
(382,402)
Subscription assets
Buildings
Improvements other than building
Infrastructure
Machinery and equipment
Total depreciable/amortizable
- 473,768
-
-
-
-
-
-
-
473,768
19,827,271
4,439,620
24,931,182
1,921,087
51,592,928
19,827,271
4,439,620
24,548,779
1,772,757
50,588,427
-
382,403
148,330
1,004,501
Less accumulated depreciation/amortization for:

Intangible assets:

Subscription assets
Buildings
- (143,285)
(437,379)
(114,990)
(642,068)
(102,881)
(1,440,603)
(436,102)
-
-
-
-
-
-
-
(143,285)
(6,498,177)
(1,897,385)
(7,059,733)
(1,207,853)
(16,806,433)
34,786,495
36,564,368
(6,060,798)
(1,782,395)
(6,417,665)
(1,104,972)
(15,365,830)
35,222,597
37,018,794
Improvements other than building
Infrastructure
Machinery and equipment
Total accumulated dep/amort
Total dep/amort capital assets, net
Total governmental capital assets $ $ (72,024) $ (382,402) $ Depreciation/amortization expense for governmental activities was charged to the following programs during the year:

General Government
Public Works
$ 212,567
931,374
Parks and Recreation
Total depreciation expense
296,662
$ 1,440,603

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Capital assets for business-type activities consisted of the following as of June 30, 2023:

Balance Balance
Business Type Activities
Non Depreciable
July 1, 2022 Additions Deletions June 30, 2023
Land $ 5,091
113,071
118,162
$ - $ -
-
-
$ 5,091
721,469
726,560
Construction in progress
Total Non-Depreciable
Depreciable:
608,398
608,398
Buildings
Systems
Machinery and rquipment
Total Depreciable
40,001
18,467,037
1,051,036
19,558,074
-
-
-
-
-
-
-
-
40,001
18,467,037
1,051,036
19,558,074
Less Accumulated Depreciation
Buildings
Systems
Machinery and equipment
Total accumulated depreciation
Total depreciable capital assets, net
Total business type capital assets
(28,010)
(7,703,851)
(872,041)
(8,603,902)
10,954,172
11,072,334
(1,333)
(369,441)
(27,555)
(398,329)
(398,329)
210,069
-
-
-
-
-
-
(29,343)
(8,073,292)
(899,596)
(9,002,231)
10,555,843
$ $ $ $ 11,282,403
NOTE 7 - NONCURRENT LIABILITIES
The Town's noncurrent liabilities consisted of the following as of June 30, 2023:

Due
Within One
Year
Balance
July 01, 2022
Balance
Description June 30, 2023
Lease Revenue Bonds:
2017 Lease Revenue Refunding Bonds
Unamortized Premiums
Additions Deletions
$ 7,440,000 300,000
350,115
7,790,115
1,675,000
-
$ -
-
-
-
$ $ 7,140,000
330,664
7,470,664
1,351,000
328,437
-
3,903,310
57,465
185,195
$ 315,000
19,451
319,451
324,000
145,331
10,181
873,525
1,337,146
349,759
-
Subtotal Lease Revenue Bonds
2020 Financing Lease - Direct Borrowing
Subscription Liabilities
CEC Loan - Direct Borrowing
Net Pension Liability
315,000
330,000
473,768 140,250
10,181 - -
-
-
1,712,933
168,056
218,003
3,063,902
1,226,555
316,951
Net OPEB Liability
Compensated Absences 46,299
Total Noncurrent Liabilities $ 11,574,288 $ 5,081,176 $ 3,359,393 $ 13,296,071 $ 831,549 Due
Within One
Year
Balance
July 01, 2022
Balance
Business-Type Activities June 30, 2023
Direct Borrowings:

Additions Deletions
State Revolving Loan
Net Pension Liability
Net OPEB Liability
$
$
748,043
550,413
54,241
74,271
$
$
- $
$
150,448
280,017
431,565
106,838
$ 597,595
1,257,360
18,548
$ 153,307
986,964
395,872
91,896
-
-
Compensated Absences 59,329 14,832
Total Noncurrent Liabilities 1,426,968 1,474,732 968,868 $ 1,932,832 $ 168,139

Page 74 ends

Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
2017 Lease Revenue Refunding Bonds
The Yountville Finance Authority issued $8,500,000 of 2017 Lease Revenue Refunding Bonds, entered into a Site Lease with the Town, and a Facilities Lease with the Town wherein the Town essentially agreed to make all principal and interest payments. The lease obligation payable and lease receivable between the Town and the Authority have been eliminated in the accompanying financial statements.

The bonds consist of $8,500,000 in serial bonds and bear interest at 2 to 5 percent that is payable June 1st and December 1st through 2039. The bonds are subject to optional early redemption without premium at the option of the Town. The Town has not pledged any specific revenues for repayment of the bonds. The Town has agreed to include the lease payments due to the Authority (and assigned by the Authority to the bond trustee) in its annual budgets and to make annual appropriations. The bond refunding resulted in an accounting deferred loss on refunding of $308,986, and an economic gain of $2,100,000 through final maturity in 2039.

The Town accounts for the bonds in its governmental activities and uses general fund resources to fund the principal and interest payments. Future debt service payments are as follows:

Fiscal Year
2024
Pricipal
315,000
Interest
227,644
Debt Service
$ $ $ 542,644
2025 541,519
2026
2027
2028
330,000
350,000
360,000
211,519
194,519
182,169
174,691
680,825
349,041
32,889
544,519
542,169
365,000 539,691
2029-2033
2034-2038
2039-2042
Total
2,020,000
2,355,000
1,045,000
2,700,825
2,704,041
1,077,889
$ 7,140,000 $ 2,053,297 $ 9,193,297
2020 Financing Lease
On June 1, 2020 the Town entered into a $2,303,000 lease agreement with the Yountville Finance Authority which was assigned to Westamerica Bank. The applicable interest rate is 1.66% per annum.

The agreement is a Site Lease and a Facilities Lease wherein the Town essentially agreed to make all principal and interest payments. The lease obligation payable and lease receivable between the Town and the Authority have been eliminated in the accompanying financial statements. The proceeds of the lease were used to defease the 2013 Lease Revenue Bonds resulting a deferred loss on refunding of $1,219 and an economic gain of $50,517 through the final maturity in 2027.

The Town accounts for the lease in its governmental activities and uses general fund resources to fund the principal and interest payments. Future debt service payments are as follows:

Fiscal Year
2024
Pricipal
330,000
Interest
22,427
Debt Service
$
$
$
$
$ 352,427
352,949
348,371
353,776
1,407,523
2025
2026
2027
Total
336,000
337,000
348,000
16,949
11,371
5,776
1,351,000 56,523 $

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Subscription-Based Information Technology Agreements
The Town has entered into certain subscription-based information technology arrangements that convey control of the right to use another entity's nonfinancial asset for a period of time in an exchange or exchange-like transaction. These are generally for software service contracts. These contracts, at times, include variable payments, residual value guarantees, or termination penalties that are not known or certain to be exercised at the time of the liability valuation. These are recognized as expenses in the period that they occur. There were no residual guarantee or termination payments expensed for the fiscal year ended June 30, 2023. Annual interest rates on the SBITAs range from .476% to 2.536%. The following schedule details minimum payments to maturity for subscription arrangements greater than $50,000:

Fiscal Year
2024
Pricipal
140,250
91,625
47,676
48,886
328,437
Interest
7,375
Total
$ $ $ 147,625
96,125
50,125
50,126
344,001
2025
2026
2027
Totals
4,500
2,449
1,240
$ $ 15,564 $
See Note 6 for the total amount of subscription assets and the related accumulated amortization.

CEC Loan
In fiscal year 2011, the Town entered into a loan arrangement with the California Energy Commission (CEC) for the purpose of obtaining financing for energy conservation improvements to Town facilities.

The original loan amount was $200,000, bears interest at 3 percent per annum, and matures December 22, 2022. The loan is payable in semi-annual installments of $10,334 due each June 22 and December 22.

This loan was fully repaid in fiscal year 2022-23.

Clean Water State Revolving Fund Loan
In fiscal 2014, the Town obtained a $3,465,362 State Revolving Fund Loan for the purpose of financing the Yountville Water Recycling Expansion Project. The proceeds are drawn down as costs are incurred and the Town has received $2,725,340 in loan proceeds. The loan and projects are accounted for in the Town’s wastewater enterprise fund. The loan has a term of 20 years, is repayable in annual installments, and bears interest at 1.9 percent. In November of 2019, the Town prepaid $1,091,109, reducing the loan terms and saving interest of $259,000. The loan matures in November 2026. The annual debt service requirements are as follows:

Fiscal Year
2024
Pricipal
153,307
Interest
11,354
Debt Service
$
$
$
$
$ 164,661
164,661
164,661
131,331
625,314
2025
2026
2027
Total
156,219
159,188
128,882
597,596
8,442
5,473
2,449
27,718 $
Compensated Absences
Compensated absences comprise of unpaid vacation and are accrued as earned. The Town’s liability for compensated absences is recorded in various governmental funds only if they have matured. The liability for compensated absences is determined annually. The long-term portion of governmental activities compensated absences is liquidated primarily by the general fund.

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
Net Pension Liability and Net OPEB Liability
See Note 9 for pensions and Note 10 for other postemployment benefits.

NOTE 8 - RISK MANAGEMENT
The Town 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 Town obtains insurance coverages.

The Town is a member of the Public Agency Risk Sharing Authority of California, 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 Town has a $10,000 retention limit similar to a deductible with the Authority being responsible for losses in excess of the Town’s self-insured retention. The Authority carries excess commercial liability policy of $34 million in excess of its $1 million retention limit to cover losses up to $34 million through affiliated risk management authorities. The Authority also provides one billion dollars aggregate per occurrence property coverage to its members with such coverage provided by purchased insurance. 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 for an additional $4.5 million.

The Authority purchases commercial coverage for an additional $45 million. The Town pays an annual premium to the Authority; the Town may share in any surplus revenues or may be required to pay additional assessments based upon the Authority’s operating results. The Town has a $10,000 deductible for workers compensation insurance coverage, all other losses are paid by the Authority on a first-dollar basis. The Town paid no material uninsured losses during the 2022-2023 fiscal year. Financial statements of the Risk Sharing Authority may be obtained from their administrative offices located at 1525 Response Road, Suite One, Sacramento, California 95815.

Liabilities of the Town 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 but 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 inflation, recent claim settlement trends (including frequency and amount of pay-outs), and other 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 claims liability estimate. Settlements have not exceeded coverages for each of the past three fiscal years.

There were no material unpaid and uninsured claims outstanding at the beginning or end of the last two fiscal years.

NOTE 9 - RETIREMENT PLANS
General Information about the Pension Plans
Plan Description
All qualified permanent and probationary employees are eligible to participate in the Public Agency CostSharing Multiple-Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees’ Retirement System (CalPERS). The Plan consists of individual rate plans (benefit tiers)

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
within a safety risk pool (police and fire) and a miscellaneous risk pool (all other.) Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous risk pools. Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under GASB Statement No. 68.

Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The Town sponsors three miscellaneous rate plans. Benefit provisions under the Plan are established by State statute and Town resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.

Benefits Provided
CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full-time employment. Members with five years of total service are eligible to retire at age 55 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of service. The death benefit is one of the following: the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employee’s Retirement Law. The general fund typically is used to liquidate pension liabilities for governmental funds.

The Plans’ provisions and benefits in effect at June 30, 2023, are summarized as follows:

Miscellaneous
Tier 1

2.7% @ 55
5 Years
Tier 2
2% @ 55
5 Years
PEPRA
2% @ 62
5 Years
Benefit formula
Benefit vesting schedule
Benefit payments Monthly for Life
55 Monthly for Life
55 Monthly for Life
Retirement age 62
Monthly benefits as a
% of eligible compensation
Required employee contribution rates
Required employer contribution rates

2.70%

8.00%

14.03%

2.00%

7.00%

10.87%

2.00%

6.75%

7.47%
Employees Covered
At June 30, 2023, the following employees were covered by the benefit terms for the Plans:

Miscellaneous
Active 32
11 9
Transferred
Separated
Retired 39
Total 91
Contributions
Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rates are the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The Town is required to contribute

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Town of Yountville
Notes to the Basic Financial Statements
June 30, 2023
the difference between the actuarially determined rate and the contribution rate of employees. For the year ended June 30, 2023, the Town’s contributions were $757,381.

Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions
As of June 30, 2023, the Town reported a net pension liability for its proportionate share of the net pension liability of the Plan of $5,160,670.

The Town’s net pension liability for the Plans is measured as the proportionate share of the net pension liability. The net pension liability of the Plans are measured as of June 30, 2022, and the total pension liability for the Plans used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2021 rolled forward to June 30, 2022 using standard update procedures. The Town’s proportion of the net pension liability was based on a projection of the Town’s long-term share of contributions to the pension plans relative to the projected contributions of all participating employers, actuarially determined. The Town’s proportionate share of the net pension liability for the Plans as of June 30, 2022 and 2023 was as follows:

Proportion - June 30, 2022
Proportion - June 30, 2023
Change - Increase/(Decrease)

0.04185%

0.04468%

0.00283%
For the year ended June 30, 2023, the Town recognized pension expense of $470,698.

At June 30, 2023, the Town reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Changes of Assumptions $ 528,818 $ -
Differences between Expected and Actual Experience
Differences between Projected and Actual Investment Earnings Differences between Employer's Contributions and
Proportionate Share of Contributions
103,636
945,298
69,411
-
16,206
45,408
128,213
2,942
-
Change in Employer's Proportion
Pension Contributions Made Subsequent to Measurement Date Total
757,381
$ 2,396,747 $ 200,566
The Town reported $757,381 as deferred outflows of resources related to contributions subsequent to the measurement date that will be recognized as a reduction of the net pension liability in the year ended June 30, 2024.

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Yountville City CouncilDecember 5, 2023

Yountville City Council
December 5, 2023