Fiscal Year Ended June 30, 202'
AWL
-.:. r �� raj' T '+.z � "fAP 1• fc. �� v.a.:r ;o., v
1 Yip+ «,1 �+;�} ��:h•�� ,�"� � 1 •�� � �"�
CITY OF YUCAIPA, CALIFORNIA
/_1►IkiM1Wde]►y,IaN4:14►61IVAQaV/_1►[a]/_1w: 4101:41
Year Ended June 30, 2021
Prepared by
Finance Division
City of Yucaipa
Annual Comprehensive Financial Report
Year Ended June 30, 2021
TABLE OF CONTENTS
Page
INTRODUCTORY SECTION
Letter of Transmittal i - vi
FINANCIAL SECTION
Independent Auditor's Report 1-3
Management's Discussion & Analysis 4 - 12
Basic Financial Statements
Government -wide Financial Statements:
Statement of Net Position
13 Statement of Activities
14 Fund Financial Statements:
Balance Sheet - Governmental Funds
15 - 16
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position 17 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 18 - 19
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities
20 Statement of Net Position - Proprietary Fund
21 Statement of Revenues, Expenses and Changes in Net Position - Proprietary Fund 22 Statement of Cash Flows - Proprietary Fund
23 Statement of Fiduciary Net Position
24 Statement of Changes in Fiduciary Net Position
25 Notes to Financial Statements
26 - 52
Required Supplementary Information
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual:
General Fund 53
Measure I Special Revenue Fund 54
Miscellaneous Special Revenue Fund 55
Schedule of Changes in Total OPEB Liability and Related Ratios 56 Schedule of the City's Proportionate Share of the Net Pension Liability 57 Schedule of Plan Contributions 58
Notes to Required Supplementary Information 59
Supplementary Information
Budgetary Comparison Schedules — Major Fund
Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual:
Developer Fees Public Facilities Capital Projects Fund 60 Developer Impact Fees Parks Capital Projects Fund 61
Traffic Facilities Fees Capital Projects Fund 62
Non -Major Governmental Funds
Combining Balance Sheet 63 - 66
Combining Statement of Revenues, Expenditures and Changes in Fund Balances 67 - 70 Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual:
State Gas Tax Special Revenue Fund 71
City of Yucaipa
Annual Comprehensive Financial Report
Year Ended June 30, 2021
TABLE OF CONTENTS - Continued
Paqe
Supplementary Information - Continued
Energy Independence Program Special Revenue Fund
72 State COPs Grant Special Revenue Fund
73 Office of Traffic and Safety Special Revenue Fund
74 LLMD Special Revenue Fund
75 Housing Authority Special Revenue Fund
76 Paramedic Special Revenue Fund
77 Capital Projects Funds:
Miscellaneous Capital Projects Fund
78 CDBG Capital Projects Fund
79 Air Quality Improvement Capital Projects Fund
80 Street Maintenance Capital Projects Fund
81 TDA Article 3 Capital Projects Fund
82 Traffic Facilities Capital Projects Fund
83 Developer Impact Fees Fire Capital Projects Fund
84 Facilities Construction Capital Projects Fund
85 Low Water Crossings Capital Projects Fund
86 Custodial Funds:
Combining Statement of Fiduciary Net Position
87 Combining Statement of Changes in Fiduciary Net Position 88 STATISTICAL SECTION
Statistics
89 Net Position By Component
90 - 91
Changes in Net Position
92 - 93
Fund Balances of Governmental Funds
94 - 95
Changes in Governmental Fund Balances
96 - 97
Assessed Value and Estimated Actual Value of Taxable Property by Major Type 98 - 99
Direct and Overlapping Property Tax Rates
100 - 101
Principal Property Tax Payers
102
Property Tax Levies and Collections
103
Ratios of Outstanding Debt by Type
104
Ratios of General Bonded Debt Outstanding
105
Direct and Overlapping Debt
106
Legal Debt Margin Information
107
Pledged Revenue Coverage
108
Demographic and Economic Statistics
109
Principal Employers
110
City Employees by Function
111
Operating Indicators by Function
112
Capital Asset Statistics by Function
113
INTRODUCTORY SECTION
CITY ❑F
April 20, 2022
To the Honorable Mayor, Members of the City Council and the Citizens of Yucaipa:
State law requires that every general-purpose local government publish a complete set of audited financial statements for each fiscal year. This report is published to fulfill that requirement for the fiscal year ended June 30, 2021.
This report consists of management's representations concerning the finances of the City.
Consequently, management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal controls that it has established for this purpose. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects.
The City's financial statements have been audited by Van Lant & Fankhanel LLP, an independent firm of certified public accountants. The goal of the independent audit was to provide reasonable assurance that the financial statements of the City for the fiscal year ended June 30, 2021, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amount and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The independent auditor concluded, based upon the audit, that there was a reasonable basis for rendering an unmodified opinion that the City's financial statements for the fiscal year ended June 30, 2021, were fairly presented in conformity with Generally Accepted Accounting Principles (GAAP). The independent auditor's report is presented as the first component of the financial section of this report.
The independent audit of the financial statements of the City is a part of a broader, federally mandated "Single Audit" designated to meet the special needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited City's internal controls and legal requirements involving the administration of federal awards. These reports are available in the City's separately issued Single Audit Report.
Management's discussion and analysis (MD&A) immediately follows the independent auditor's report and provides a narrative introduction, overview, and analysis of the basic financial
statements. The MD&A complements this letter of transmittal and should be read in conjunction with it. The City's MD&A can be found immediately following the report of the independent auditors.
The annual budget serves as the foundation for the City's financial planning and control. Prior to the beginning of the fiscal year, the City Manager submits a draft budget for the upcoming year to the City Council for their consideration and approval. Management is authorized to approve budget adjustments within designated thresholds; however, they must be reported to City Council on a periodic basis. The City maintains budgetary controls to ensure compliance with provisions embodied in the annual appropriated budget approved by the City Council. Activities of the General Fund, Special Revenue, Debt Service, Capital Projects, and Internal Service funds are included in the annual budget. The City also maintains an encumbrance accounting system as one technique of accomplishing budgetary control. Encumbered amounts lapse at year-end.
Budget -to -actual comparisons are provided in this report for each individual governmental fund for which an appropriated annual budget has been adopted. For the General Fund and major Special Revenue funds, this comparison is presented as part of the required supplementary information in the accompanying financial statements. For governmental funds that have appropriated annual budgets, other than the General Fund and major special revenue funds, this comparison is presented in the supplementary section of the accompanying financial statements.
PROFILE OF THE GOVERNMENT
The City of Yucaipa was incorporated on November 27, 1989. It is a "General Law" City with a population of approximately 55,000 and is governed by a City Council/City Manager form of government. The City observes State laws and makes local laws (i.e. speed limits). The City Council has the power to make and enforce all laws and regulations with respect to municipal affairs.
The Yucaipa City Council is comprised of five Councilmembers. Each shares equal voting powers on all items coming before the Council. Effective in 2016, councilmembers are elected by district to four-year terms, with elections held in November of even -numbered years. The Council meets annually to choose one of its members as Mayor and another of its members as Mayor Pro-Tem.
The City Council appoints the City Manager and City Attorney and members of all advisory boards, commissions and committees. The members of the City Council also serve as the Board of Directors for the Successor Agency to the Yucaipa Redevelopment Agency and the Yucaipa Housing Authority.
Yucaipa is a mature, well -established suburban community nestled in the foothills of the San Bernardino Mountains. Residents enjoy cleaner air and cooler temperatures as a result of the higher elevations, and a comprehensive approach to community safety has produced one of the lowest rates of crime for comparably sized cities anywhere in the State of California.
City of Yucaipa
34272 Yucaipa Boulevard, Yucaipa, CA 92399-9950
909/797-2489 ♦ FAX 909/790-9203 ♦ e-mail: [email protected]
The City contains 18 parks, encompassing approximately 534 acres, including an equestrian arena and a municipal pool, as well as a 200 acre San Bernardino County regional park with 3 lakes for swimming, boating, and fishing, plus campgrounds and playgrounds for the entire family and the 1,000 +/- acre Wildwood Canyon State Park. The Yucaipa-Calimesa Joint Unified School District has an outstanding reputation, and it ranks at or near the top in every category of educational achievement. In addition, Crafton Hills College offers day and evening programs of continuing education and training opportunities for personal and professional development. Housing to accommodate all lifestyles is readily available, and three museums, a branch of the San Bernardino County Library, a Senior Center, two theater groups, and over 40 churches and 90 social or business clubs round out the community.
During fiscal year 2018-19 the City proudly opened the doors of the Yucaipa Performing Arts Center (YPAC) and the adjacent urban Uptown Park. The YPAC opened in the spring of 2019 and is a 16,200 sq. ft. facility with a 10,500 sq. ft. multi -purpose theater which has retractable seating for up to 297. The versatile space allows for audiences of up to 500 standing as well as configurations for receptions and meetings. In addition, within the Uptown Park the facility opens up an indoor/outdoor stage with an adjoining 14,000 sq. ft. open air plaza for audiences. The YPAC is intended to serve as an anchor within the Historic Uptown district of the City and will provide space for all types of performing arts including concerts, dance, theatre, galas, and major events.
The City of Yucaipa provides a full range of services to its residents. These services include, but are not limited to police protection, fire suppression, paramedic services, the construction and maintenance of streets and infrastructure planning and zoning, building and safety permitting and inspecting, engineering and inspection, code enforcement, recreational activities, enrichment programs and general administration. Other services are provided by: San Bernardino County, Yucaipa-Calimesa Joint Unified School District, and Yucaipa Valley Water District. The City contracts for law enforcement services with the San Bernardino County Sheriff's Department and for fire suppression and paramedic services with the California Department of Forestry and Fire Prevention (CAL FIRE).
ECONOMIC CONDITION AND OUTLOOK
The profile outlined above demonstrates the value placed on public services provided by the City.
Through the implementation of relevant fiscal policies, as described below, and a conservative fiscal strategy, combined with the economic outlook of the community, the City is poised and able to provide the amenities and facilities identified in this report on behalf of the residents. The City has successfully maintained a high pavement quality index for all of its streets, invested in parks and facilities and implemented a series of annual festivals to enhance the recreational participation in the community. All of these combine favorably to assist in laying the foundation City of Yucaipa
34272 Yucaipa Boulevard, Yucaipa, CA 92399-9950
909/797-2489 ♦ FAX 909/790-9203 ♦ e-mail: [email protected]
for financial success into the future. In addition, the City is able to respond to any changes in the economic climate appropriately and effectively.
The information presented in the financial statements is perhaps best understood from the broader perspective of the specific environment within which the City operates.
Local Economy
The City of Yucaipa is primarily a residential community whose economy is based primarily upon service and light manufacturing. Many residents commute for employment to other cities within the region. After the Great Recession, the unemployment rate rose from approximately 4.4% in calendar year 2008 to a peak of 14.8% in calendar year 2013. The unemployment rate steadily improved until calendar year 2019 when unemployment reached 2.9% in April. However, due to the COVID-19 pandemic, the unemployment rate has increased since then, touching a high of
13.3% in April 2020, and finishing fiscal year 2019/2020 with a rate of 11% in June. As of the end of calendar year 2020, the unemployment rate ended at 7.9%.
The City of Yucaipa saw revenue sources stabilize and begin to increase during fiscal year 2015/2016. The increase continued through fiscal year 2020/2021. The City's largest revenue source comes from property taxes. Property tax revenues were received in the amount of $13.3 million in fiscal year 2020/2021, and the City is seeing a continuing trend of rising property values.
In fiscal year 2014/2015, the City experienced an increase in property tax revenues by the rate of approximately 5.03%, 4.33% in fiscal year 2015/2016, 6.34% in fiscal year 2016/2017, 5.3% in fiscal year 2017/2018, 4.99% in fiscal year 2018/2019, 4% in fiscal year 2019/2020, and 5.44% in fiscal year 2020/2021.
Sales Tax revenues had experienced growth annually over the last several years, until fiscal year 2019/2020. Sales tax revenues declined in fiscal year 2019/2020 by 10.2% compared to the previous fiscal year due to COVID-19 lockdowns that subdued economic activity for a portion of the fiscal year. In fiscal year 2020/2021, economic activity returned and sales tax revenues increased 22.6%.
For the future, there are a number of projects that hold economic development potential for the community and City staff continues to work with the development community to facilitate economic opportunities and foster responsible impacts to the community. For example, the City has constructed several drainage related projects that have removed 416 properties from associated flood plains and assisted in the capture and recharge of rainwater, while enhancing travel routes by eliminating low water crossings. In addition, the following major projects are currently under design or in some stage of development or were very recently completed. Each project plays a vital role in the overall economic development strategy employed by the City Council.
City of Yucaipa
34272 Yucaipa Boulevard, Yucaipa, CA 92399-9950
909/797-2489 ♦ FAX 909/790-9203 ♦ e-mail: [email protected]
• Crafton Hills College Village Plan
• Widening Yucaipa Boulevard from 15t" Street to Interstate 10, including utility undergrounding and sewer and water improvements (Phase III) • Historic Uptown Revitalization
• Wildwood Canyon Interchange
• Live Oak Canyon Road Improvements
• Oak Glen Creek Specific Plan
• Interstate 10 Gateway Project — Yucaipa Pointe
• Dunlap Park
• Wilson Creek Basin III
• County Line Road Improvements
• Avenue E Road/Intersection Improvements
• Freeway Corridor Specific Plan
Long Term Financial Planning
From the time the City was incorporated, the City has had a longstanding philosophy of only paying cash for capital projects and infrastructure improvements. Several facilities built with available cash include: the Community Park and Community Center/Gym, City Hall, Fire Station #3, the Police Station, the Yucaipa Performing Arts Center, El Dorado Park, and now a new City Yard. Many infrastructure improvements that have been financed with available cash include:
the Widening of Yucaipa Boulevard, the Live Oak / 1-10 Interchange, and numerous drainage and park improvement projects including the most recent acquisition of the 334 acre El Dorado Park to be used as open space and for recreational purposes and as a mitigation "bank" for other important City projects and the 11-acre future Five Winds Ranch Recreation Center.
The City has historically used its discretionary fund balance to leverage outside funding sources in the construction of necessary capital projects. The City has aggressively and successfully acquired numerous federal, state, and local grants to assist in the financing of multiple City related capital projects.
Relevant Financial Policies
Through the adoption of GASB 54 in fiscal year 2010/11, City Council set up two contingency accounts to serve as buffers against severe changes in the local economic environment. The first, the General Fund Emergency Contingency, was established to encumber an amount equal to 20% of the annual General Fund Expenditure Budget. That was increased to 30% in fiscal year 2015/2016 and then reduced to 20% for fiscal year 2020/2021 to reflect the potential financial impacts of the COVID-19 pandemic. The General Fund Emergency Contingency Account is committed solely for use upon the declaration of a state or federal state of emergency or a local emergency as defined in the Yucaipa Municipal Code Section 8.36.030. In fiscal year 2020/2021 City of Yucaipa
34272 Yucaipa Boulevard, Yucaipa, CA 92399-9950
909/797-2489 ♦ FAX 909/790-9203 ♦ e-mail: [email protected]
this commitment amounted to $4,611,873. Secondly, City Council also formalized the Reserve for Economic Uncertainties Contingency. This commitment totals $1,000,000. This contingency account is committed and may be used solely in any fiscal year in which actual General Fund revenue is at least 30% less than budgeted General Fund revenue. Both contingencies have remained encumbered in their entirety through the end of fiscal year 2020/21.
Acknowledgments
The preparation of the annual comprehensive financial report was made possible by the dedicated service of the entire staff of the Finance Division.
Respectfully submitted,
aymon A. Casey
City Manager
City of Yucaipa
34272 Yucaipa Boulevard, Yucaipa, CA 92399-9950
909/797-2489 ♦ FAX 909/790-9203 ♦ e-mail: city@yu_caipa.or� w
FINANCIAL SECTION
Van Lant&
VLF Fankhanel, LLP
Certified Public Accountants I
Independent Auditor's Report
The Honorable City Council
City of Yucaipa, California
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Yucaipa, California, as of and for the year ended June 30, 2021, and the related notes to the financial statements, which collectively comprise the City of Yucaipa's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes 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.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements 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 entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Van Lant & Fankhanel, LLP
29970 Technology Drive. Suite 105 A
Murrieta. CA 92563
909.856.6879
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Yucaipa, California, as of June 30, 2021, and the respective changes in financial position and cash flows, where applicable, thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Other Matters
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, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or to provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City's basic financial statements. The introductory section, the supplementary information as listed in the table of contents, and statistical section, are presented for purposes of additional analysis and are not a required part of the basic financial statements.
The supplementary information, as listed in the table of contents, is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statement themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.
2 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated April 20, 2022, on our consideration of the City of Yucaipa'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 the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. 1�v -�Wt 4- 11),
April 20, 2022
3 MANAGEMENT'S DISCUSSION AND ANALYSIS
As management of the City of Yucaipa, we offer readers of the City's financial statements this narrative overview and analysis of the financial activities of the City for the fiscal year ended June 30, 2021.
FINANCIAL HIGHLIGHTS
➢ The City's Governmental Net Position increased by approximately 5.8% to $226.5 million as a result of this year's operations, including normal annual depreciation and the capitalization of assets.
➢ During the year, the City's taxes and other governmental revenues exceeded expenses by approximately $7.6 million.
➢ The total revenues from all sources were approximately $49 million. The total cost of all City programs was approximately $41.4 million. For capital related expenses, the total cost only includes the portion allocated for depreciation for the fiscal year. ➢ The General Fund reported total operational expenditures over revenues, including transfers, in the amount of approximately $(2.6) million. ➢ The revised General Fund budget reflects estimated expenditures over revenues, including transfers, in the net amount of approximately $(3) million. ➢ For the General Fund, actual operating revenues received exceeded final budget estimates by the amount of $1.3 million, primarily due to increases in property taxes, sales and use taxes, licenses and permits, fines and forfeitures, and other revenues. ➢ Actual operating expenditures in the General Fund were approximately $6.2 million less than the final budget.
➢ At the end of Fiscal Year (FY) 2020-2021, the Unassigned Fund Balance in the General Fund was approximately $9.3 million, or 33.9% of the General Fund's total original budgeted expenditures. This represents a net increase from the previous year's Unassigned Fund Balance in the amount of $2.8 million.
➢ At the end of FY 2020-2021, the unassigned and committed fund balance in the General Fund was approximately $25.1 million and includes the following accounts:
1. Unassigned Fund Balance
2. Committed for Reserve for Economic Contingency
(20% of Operational Budget)
3. Committed for Reserve for Economic Stabilization
4. Committed Fund Balance for Fire Services
5. Committed OPEB
$ 9,284,069
4,611,873
1,000,000
9,676,305
565,426
Total 25,137,673
4 OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City of Yucaipa's basic financial statements. The City's basic financial statements are comprised of three components, 1) Government -wide Financial Statements, 2) Fund Financial Statements and 3) Notes to the Financial Statements. This report contains other supplementary information in addition to the basic financial statements and required information.
Government -wide Financial Statements. The Government -wide Financial Statements are designed to provide readers with a broad overview of the City's financial position, in a manner similar to that of a private -sector business. These statements are reported on the full accrual basis of accounting. Thus, revenues and expenses are reported for some items that will not affect cash flows until future periods.
The Government -wide Financial Statements typically will separate Governmental Activities that are principally supported by taxes and revenues from other agencies, from Business -type Activities and other service fees that are intended to recover all, or a significant portion of their costs, through user fees and charges. The City of Yucaipa currently has no Business -type Activities. The Governmental Activities of the City include General Government, Community Development, Building and Safety, Public Works, Public Safety, Fire Protection Services, Paramedic Services, and Community Services.
The Government -wide Financial Statements include not only the City, but also all legal entities for which the City is financially accountable.
The Statement of Net Position presents information on all the City's assets and liabilities; the difference between the two is reported as the net position. Assets include all infrastructure assets in accordance with GASB 34. The liabilities include all obligations. Evaluating increases or decreases in net assets over time may serve as a useful indicator of whether the financial position of the City is improving or declining.
The Statement of Activities presents information on the net cost of each governmental function (activity) during the fiscal year. This statement also identifies the amount of general revenues needed to fully fund each governmental function.
Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to demonstrate compliance with finance - related legal requirements. All the funds of the City can be divided into three categories:
Governmental Funds, Proprietary Funds, and Fiduciary Funds.
Governmental Funds (General Fund, Special Revenue, Debt Service and Capital Projects Funds) are used to account for the same functions reported as Governmental Activities in the Government - wide Financial Statements. However, unlike Government -wide Financial Statements, Fund Financial Statements focus on short-term inflows and outflows of spendable resources. These 5 funds are reported using the modified accrual basis of accounting, which measures cash and all other financial assets that can readily be converted to cash. This information may be useful in evaluating the City's short-term financing requirements.
The focus of the Fund Financial Statements is narrower than that of the Government -wide Financial Statements. The various fund Balance Sheets and the Statement of Revenues, Expenditures, and Changes in Fund Balances, require a reconciliation to facilitate the comparison between fund statements and the government -wide statements. This reconciliation is required because the government -wide statements are prepared in the full accrual basis of accounting while the fund statements are prepared in the modified accrual basis of accounting. This reconciliation can be found on the pages immediately following the Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balances for Governmental Funds.
Proprietary Funds include Enterprise and Internal Service Funds. The City currently has no Enterprise Funds. Internal Service Funds are used to accumulate and allocate costs internally to various functions. The City uses an Internal Service Fund to account for its self-insurance activities related to Worker's Compensation, liability, and property insurance. The proprietary fund statements provide financial information for the Internal Service Fund.
Fiduciary Funds are used to account for resources held for the benefit of parties outside of the City. Fiduciary funds are not reflected in the government -wide and fund financial statements because the resources of those funds are not available to support the City's own programs.
Fiduciary Funds are reported in the financial section, as appropriate. The City currently maintains four fiduciary funds. The first is for a donation received many years ago on behalf of the Sheriff's Department; the interest received thereon funds minor incidental needs of the department's station.
The second fiduciary fund is used to account for transactions related to a deposit made for the benefit of the Yucaipa Historical Society relating to the disposition of the Kramer House, previously located within Chapman Heights. The third fiduciary fund includes the debt service reserve funds required for the Community Facilities District No. 98-1 of the City of Yucaipa (Chapman Heights). The fourth fiduciary fund maintained includes the financial information related to the Successor Agency to the City's Redevelopment Agency (RDA).
Notes to the Financial Statements. The notes provide additional information that is essential to the reader for a full understanding of the data provided in the Government -wide and Fund Financial Statements.
GOVERNMENT -WIDE FINANCIAL ANALYSIS
As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the case of the City of Yucaipa, assets and deferred outflows exceeded liabilities and deferred inflows by approximately $227 million as of June 30, 2021. This represents an increase from the previous year by the amount of approximately $2.6 million, excluding the restatement of the beginning net position. See Table 1, below, for a comparative analysis of net position between the fiscal years ended June 30, 2021 and June 30, 2020. 2 Current and other Assets
Capital Assets, Net
Total Assets
Deferred Outflows of
Resources
Table 1
Net Position
Governmental Activities
Fiscal Year Ended June 30
2021
2020
$ 59,548,160 $ 40,501,320
187,300,451 193,575,047
$ 246,848,611 $ 234,076,367
$ 2,035,864 $ 1,434,955
Current Liabilities
13,754,452
4,069,435
Long Term Liabilities
8,333,740
7,345,315
Total Liabilities $
22,088,192
$ 11,414,750
Deferred Inflows of Resources $
259,415
$ 160,512
Net Position:
Net Investment in
Capital Assets
187,300,451
193,575,047
Restricted
13,254,884
5,294,418
Unrestricted
25,981,533
25,066,595
Total Net Position $
226,536,868
$ 223,936,060
A large portion of the City's net position, $187.3 million, reflects its investment in capital assets (i.e., land, buildings, machinery, equipment and infrastructure), less any related debt used to acquire those assets that is still outstanding, if applicable. The City uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending.
Although the City's investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources since the capital assets themselves cannot be used to liquidate these liabilities. It is important to note that the only debt currently reported in the financial statements is that debt incurred by the routine payments of current obligations. Debt obligations incurred by the former RDA and the Community Facilities District no. 98-1 are not included in the City's Governmental Financial Statements.
An additional portion of the City's net position, $13.25 million, or 5.85% of total net position, represents resources that are subject to external restrictions on how they may be used. This typically refers to funds received through State and Federal grants. The remaining balance of Unrestricted Net Position, $26 million, may be used to meet the government's ongoing obligations to citizens and creditors.
The condensed summary of activities, which follows, shows that net position increased by approximately $7.6 million during the year as a result of operations. The summary reflects an increase in total revenues in the amount of approximately $8 million from the previous year. The 7 increase is primarily the result of timing related to the receipt of grant funds associated with City initiated capital projects, as well as the sale of City property to developers.
The summary also reflects an increase in total expenses in the amount of approximately $4.3 million from the previous year. The decrease is primarily due to reduced spending related to Community Services, since many services were unable to be provided during the year attributable to the COVID-19 lockdown.
Table 2
Summary of Governmental Activities
Fiscal Year Ended June 30
Revenues
Program Revenues:
Charges for Services
Operating Grants
Capital Grants
General Revenues:
Property Taxes
Sales Taxes
Other Taxes and Fees
Motor Vehicle In -Lieu Fees
Investment Income/Misc
Total Revenues
Expenses
General Government
Public Safety/Fire/Paramedic
Comm. Dev./Pub. Works/Build. &
Safety
Community Services
Total Expenses
Increase in Net Position
Beginning Net Position, Restated
Ending Net Position
2021
$ 4,557,440
3,568,495
9,636,799
13,283,544
4,600,872
1,901,420
5,689,226
5,718,369
$ 48,956,165
5,523,173
21,553,475
12,466,518
1,846,775
$ 41,389,941
$ 7,566,224
$ 218,970,644
$ 226,536,868
2020
$ 4,492,201
2,203,890
9,938,960
12,598,276
3,751,828
1,700,225
5,448,407
805,065
$ 40,938,852
4,640,613
16,758,782
13,004,985
2,720,132
$ 37,124,512
$ 3,814,340
$ 220,121,720
$ 223,936,060
0 Table 3
Revenues by Source — Governmental Activities
For the Years Ended June 30, 2021 & 2020
2020/21
2019/20
Amount
% of Total Amount
% of Total
Taxes
Property
$ 13,283,544
27.1% $
12,598,276
30.8%
Sales and Use
4,600,872
9.4%
3,751,828
9.2%
Franchise Fees
1,567,185
3.2%
1,491,027
3.6%
Doc. Transfer
311,936
0.6%
186,819
0.5%
Other Taxes
22,299
0.0%
22,379
0.1%
Fees for Services
4,557,440
9.3%
4,492,201
11.0%
Fines & Forfeitures
381,295
0.8%
40,581
0.1%
Other Agencies
17,525,597
35.8%
16,813,811
41.1%
Interest
43,503
0.1%
412,106
1.0%
Licenses & Permits
987,628
2.0%
736,865
1.8%
Miscellaneous Revenues
5,674,866
11.6%
392,959
1.0%
Total $ 48,956,165 100% $ 40,938,852 100%
FINANCIAL ANALYSIS OF THE CITY'S FUNDS
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance -related legal requirements.
Governmental Funds. The focus of the City's governmental funds is to provide information on the near -term inflows, outflows and balances of spendable resources. Such information may be useful in assessing the City's financing requirements. In particular, the unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year.
At the end of the current fiscal year, the City's governmental funds reported combined ending fund balances of approximately $41.2 million, an increase of approximately $12.9 million in comparison with the prior year. The General Fund has a fund balance of approximately $52.4 million, while all other governmental funds combined have an approximate total fund balance deficit of approximately $(11.2) million. This is due mainly to long-term deficit spending in capital projects requiring of loans from the General Fund (see Note 14 Accumulated Fund Deficits for further discussion).
Below is an analysis of each of the City's major funds.
General Fund
For purposes of reporting and presentation in the CAFR, the General Fund and Fire Services Fund were combined beginning in FY 2018-2019 to constitute the chief operating fund of the City. At the end of the fiscal year ended on June 30, 2021, the Unassigned Fund Balance of the General Fund was approximately $9.3 million. Included in the Committed Fund Balance is approximately 0 $4.6 million that was authorized by City Council for future operating and economic contingencies and approximately $9.7 million related to the consolidation of the Fire Services Fund Balance.
The total Fund Balance in the General Fund, as of June 30, 2021, was approximately $52.4 million.
The total Fund Balance of the City's General Fund decreased by an amount of approximately $(2.6) million. This decrease in Fund Balance was due to a transfer out of approximately $6 million from the General Fund to the Facilities Construction Fund to fund future capital projects.
The differences in General Fund revenues from the total budgeted estimates can be summarized as follows:
2020/21 Budget 2020/21 Actual
Description
Estimate
Revenue
Variance
% Change
Property Tax
$ 11,650,034
$ 12,186,699
$ 536,665
4.6%
Sales Tax
3,513,701
4,600,872
1,087,171
30.9%
Current Services
3,104,750
1,610,723
(1,494,027)
-48.1%
Other Taxes
1,507,600
1,808,884
301,284
20.0%
Other Governmental
5,844,951
5,907,405
62,454
1.1%
Licenses & Permits
545,153
987,628
442,475
81.2%
Investment Income
260,000
80,344
(179,656)
-69.1%
Misc. Revenues
652,567
1,222,953
570,386
87.4%
Transfers In
1,603,712
849,318
(754,394)
-47.0%
During FY 2020-2021, the City experienced increases among most revenue categories including Property Taxes, Sales and Use Taxes, Fines and Forfeitures, and Other Governmental revenues.
Charges for Services was one exception, as the City experienced a decrease of approximately $(789k) from the prior fiscal year. This decrease is attributable to COVID-19 lockdowns that subdued economic activity for the fiscal year. Investment income also decreased from the prior fiscal year, coinciding with declining interest rates over the same time period.
Special Revenue Fund:
Measure I
The Measure I Special Revenue Fund accounts for the '/2% sales tax that is required to be used for the maintenance and improvement of City streets. In FY 2020-2021, the fund balance of the Measure I Fund increased by approximately $7.5 million due mainly to approximately $6.2 million in grant reimbursements related to the prior fiscal year.
Miscellaneous
The Miscellaneous Special Revenue Fund includes grant funding restricted for specific purposes.
In FY 2020-2021, the fund balance decreased by approximately $125k due to Cares Act funding not received within the availability period to be recognized as revenue totaling $190k. 10 Capital Projects Funds:
Public Facilities
The Public Facilities Fund is a component of the City's Development Impact Fee Program. It is used to account for financial transactions specifically related to the construction of Public Facilities. Over the years, the General Fund has loaned the Public Facilities Fund resources for the construction of public facilities, including the Yucaipa Performing Arts Center. These resources are to be repaid with the collection of future Development Impact Fees. In FY 2020-2021, the fund balance of the Public Facilities Fund increased by approximately $267k due to the timing of funding sources received for capital projects.
Park Facilities
The Park Facilities Fund is a component of the City's Development Impact Fee Program. It is used to account for financial transactions specifically related to the construction of Park Facilities including parks, amenities, and open space. In prior years, the General Fund has loaned the Park Facilities Fund resources for the construction of park facilities. These resources are to be repaid with the collection of future Development Impact Fees. In FY 2020-2021, the fund balance of the Park Facilities Fund decreased by approximately $463k due to capital outlays for various capital projects.
Drainage
The Drainage Fund is a component of the City's Development Impact Fee Program. It is used to account for financial transactions specifically related to the construction of drainage projects. In prior years, the General Fund has loaned the Drainage Fund resources for the construction of drainage. In FY 2020-2021, the fund balance of the Drainage Fund decreased by approximately $50k due to a transfer out totaling $59k to reimburse the General Fund for indirect costs related to the City's cost allocation plan.
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets. The City's investment in capital assets for its governmental activities as of June 30, 2021, amounts to approximately $187.3 million (net of accumulated depreciation). This investment in capital assets includes land, infrastructure, buildings and improvements, equipment and construction -in -progress.
The total net decrease in the City's net investment in capital assets for the current fiscal year was approximately $(6.3) million. The primary major capital assets added during FY 2020-2021 were the completion of several public works projects such as the completion of a significant street improvement project, the addition of a fire truck, as well as various offers of dedication received for right of way. Construction -in -progress totaled $14.7 million as of June 30, 2021 and depreciation expense was approximately $6.8 million. See Table 4 below for the capital asset 11 amounts by category as of June 30, 2021. Also, please refer to Note 4 in the financial statements for more detailed information.
Table 4
City of Yucaipa
Recorded Capital Assets at Year -End
(Net of Depreciation)
Land/Rights of Way
$ 63,284,934
Infrastructure
101,911,849
Structures and Improvements
4,940,962
Equipment / Vehicles
2,506,731
Cons truction-in-Progres s
14,655,975
Total Capital Assets
$ 187,300,451
Long-term Debt. At the end of the current fiscal year, other than the obligations outlined in Note 8 related to the total Other Post -Employment Benefits (OPEB), Note 7 related to Pension Plan liabilities, and Compensated Absences, the City had no outstanding long-term debt. As of June 30, 2021 the Successor Agency to the Yucaipa RDA owed long-term debt in the amount of $6,771,516.
This amount represents bonded indebtedness incurred as a result of Tax Allocation Bonds issued by the former RDA in 1998, 2004, and 2010. The former RDA issued 2010 Tax Allocation Bonds, dated November 2, 2010, in the amount of $6,030,000 to finance Redevelopment projects. The 2010 bonds are issued on parity with the Agency's 1998 and 2004 bonds and have interest rates ranging from 4.00% to 5.50%. The final payment is due September 1, 2040.
REQUEST FOR INFORMATION
This financial report is designed to provide a general overview of the City's financial condition for all those with an interest in the City's finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Director of Finance, 34272 Yucaipa Blvd., Yucaipa, CA 92399.
12 BASIC FINANCIAL STATEMENTS
City of Yucaipa
Statement of Net Position
June 30, 2021
Governmental
Activities
ASSETS
Cash and Investments
$ 50,030,678
Receivables:
Accounts
2,315,444
Interest
51,795
Due From Other Governments
2,584,719
Restricted Cash and Investments
1,229,249
Notes and Loans Receivable
3,259,121
Prepaid Items
77,154
Capital Assets, Not Being Depreciated
77,940,909
Capital Assets, Net of Accumulated Depreciation
109,359,542
Total Assets
246,848,611
DEFERRED OUTFLOWS OF RESOURCES
Deferred OPEB Related Items 358,706
Deferred Pension Related Items 1,677,158
Total Deferred Outflows 2,035,864
LIABILITIES
Accounts Payable
8,441,373
Accrued Liabilities
75,000
Deposits Payable
1,229,149
Unearned Revenue
4,008,930
Noncurrent Liabilities:
Due Within One Year
60,757
Due in More Than One Year
8,272,983
Total Liabilities
22,088,192
DEFERRED INFLOWS OF RESOURCES
Deferred OPEB Related Items 28,965
Deferred Pension Related Items 230,450
Total Deferred Inflows 259,415
NET POSITION
Net Investment in Capital Assets
187,300,451
Restricted for:
Public Safety
842,456
Public Works/Transportation
172,578
Community Development
8,399
Community Services/Public Education
3,433,073
Capital Projects
8,798,378
Unrestricted
25,981,533
Total Net Position
$ 226,536,868
The accompanying notes are an integral part of this statement. 13 City of Yucaipa
Statement of Activities
Year Ended June 30, 2021
Net(Expense)
Revenue and
Change in
Program Revenues
Net Position
Charges
Operating
Capital
for
Grants and
Grants and
Governmental
Functions/Programs
Expenses
Services
Contributions
Contributions
Activities
Governmental Activities:
General Government
$ 5,523,173
$ 622,240
$ 1,486,456
$ -
$ (3,414,477)
Community Development
2,662,672
748,466
6,982
90,341
(1,816,883)
Building and Safety
814,756
1,235,854
-
-
421,098
Public Works
13,813,740
874,848
1,343,689
9,452,749
(2,142,454)
Public Safety
11,610,569
425,676
175,880
844
(11,008,169)
Fire Protection Services
3,568,310
170,323
207,485
-
(3,190,502)
Paramedic Services
1,549,946
-
-
-
(1,549,946)
Community Services
1,846,775
480,033
348,003
92,865
(925,874)
Total Governmental Activities
$ 41,389,941
$ 4,557,440
$ 3,568,495
$ 9,636,799
(23,627,207)
General Revenues:
Taxes:
Property Taxes
Sales and Use Taxes
Franchise Taxes
Documentary Transfer Tax
Other Taxes
Vehicle License Fees, Unrestricted
Investment Income
Miscellaneous
Total General Revenues
Change in Net Position
Net Position - Beginning of Year, Restated
Net Position - End of Year
The accompanying notes are an integral part of this statement. 13,283,544
4,600,872
1,567,185
311,936
22,299
5,689,226
43,503
5,674,866
31,193,431
7,566,224
218,970,644
$ 226,536,868
14 City of Yucaipa
Balance Sheet
Governmental Funds
June 30, 2021
Capital
Special Revenue
Projects
Developer
Fees Public
General
Measure I
Miscellaneous
Facilities
ASSETS
Cash and Investments
$ 32,389,163
$ 1,595,623
$ 4,058,382
$ 507,079
Receivables:
Accounts
1,955,860
-
-
-
Interest
47,727
672
85 Due From Other Governments
-
1,435,538
280,960
Due From Other Funds
102,946
-
-
Restricted Cash and Investments
1,228,249
-
Advances to Other Funds
24,769,138
1,037,430
Notes and Loans Receivable
-
-
Prepaid Items
77,154
-
-
-
Total Assets
$ 60,570,237
$ 3,031,833
$ 5,376,857
$ 507,079
LIABILITIES
Accounts Payable & Accrued Liabilities $ 6,394,860 $
Deposits Payable 1,228,249
Due to Other Funds -
Unearned Revenue
Advances From Other Funds
Total Liabilities
7,623,109
$ 57,280 $ 4,877
4,008,930 -
- 12,451,569
4,066,210 12,456,446
DEFERRED INFLOWS OF RESOURCES
Unavailable Revenues
575,252
190,000
Total Deferred Inflows of Resources
575,252
190,000
FUND BALANCES
Nonspendable
24,846,292
- -
Restricted
-
3,031,833 1,120,647
Committed
15,853,604
- -
Assigned
2,387,911
Unassigned
9,284,069
- - (11,949,367)
Total Fund Balances
52,371,876
3,031,833 1,120,647 (11,949,367)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances $ 60,570,237 $ 3,031,833 $ 5,376,857 $ 507,079 The accompanying notes are an integral part of this statement. 15 Capital Projects
Developer Developer
Fees Fees
Parks Drainage
Total
Non -Major Governmental
Funds Funds
$ 227,338 $ - $ 10,870,827 $ 49,648,412
290,225 2,580 66,779 2,315,444
111 - 3,186 51,781
868,221 2,584,719
761,000 863,946
1,000 1,229,249
- - 25,806,568
2,893,575 365,546 3,259,121
- - - 77,154
$ 517,674 $ 2,896,155 $ 12,936,559 $ 85,836,394
$ 33,498
$ 870,404 $
1,053,897
$ 8,414,816
-
-
900
1,229,149
863,946
863,946
-
-
-
4,008,930
5,102,229
2,681,825
5,570,945
25,806,568
5,135,727
3,552,229
7,489,688
40,323,409
290,225
2,893,575
335,008
4,284,060
290,225
2,893,575
335,008
4,284,060
-
-
-
24,846,292
5,072,954
9,225,434
-
-
15,853,604
5,449,265
7,837,176
(4,908,278)
(3,549,649)
(5,410,356)
(16,533,581)
(4,908,278)
(3,549,649)
5,111,863
41,228,925
$ 517,674 $ 2,896,155 $ 12,936,559 $ 85,836,394
The accompanying notes are an integral part of this statement. 16 City of Yucaipa
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position
June 30, 2021
Fund balances of governmental funds
Amounts reported for governmental activities in the Statement of Net Position are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds:
Capital Assets Not Being Depreciated
Capital Assets Being Depreciated
Accumulated Depreciation
Long-term debt obligations are not due and payable in the current period and, therefore, are not reported in the funds:
Compensated Absences
Net Pension Liability
Net OPEB Liability
Amounts for deferred inflows and deferred outflows related to the City's Net Pension and OPEB Liablities are not reported in the funds:
Deferred Outflows Related to Pensions
Deferred Inflows Related to Pensions
Deferred Outflows Related to OPEB
Deferred Inflows Related to OPEB
The internal service fund is used by management to charge costs of actitivies involved in rendering services to departments within the City. The assets and liabilities of the internal service fund are included in the statement of net position Other long-term assets are not available to pay for current -period expenditures and, therefore, are deferred in the funds.
Net position of governmental activities
The accompanying notes are an integral part of this statement. $ 41,228,925
77,940,909
272,673,256
(163,313,714)
(478,604)
(5,532,698)
(2,322,438)
1,677,158
(230,450)
358,706
(28,965)
280,723
4,284,060
$ 226,536,868
17 City of Yucaipa
Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
Year Ended June 30, 2021
Capital
Special Revenue
Projects
Developer
Fees Public
General
Measure I
Miscellaneous
Facilities
REVENUES
Taxes:
Property Taxes
$ 12,186,699
$
$
$
Sales and Use Taxes
4,600,872
Franchise Taxes
1,474,649
-
Documentary Transfer Tax
311,936
-
-
-
Other Taxes
22,299
-
-
-
Licenses and Permits
987,628
-
-
-
Fines and Forfeitures
374,502
-
6,793
-
ChargesforServices
1,610,723
-
71,293
86,623
Intergovernmental
5,907,405
8,545,641
1,517,029
-
Investment Income
80,344
8,229
1,261
1,098
Other
848,451
-
36,857
1,009,105
Total Revenues
28,405,508
8,553,870
1,633,233
1,096,826
EXPENDITURES
Current:
General Government
3,850,010
-
401,807
-
Community Development
1,112,220
-
24,270
-
Building and Safety
814,756
-
-
-
Public Works
2,723,288
-
37,115
18,158
Public Safety
9,493,043
-
1,245,007
-
Fire Protection Services
3,568,310
-
-
Paramedic Services
-
-
Community Services
1,574,865
2,438
-
Capital Outlay
906,083
243,811
759,092
Total Expenditures
24,042,575
-
1,954,448
777,250
Excess (Deficiency) of Revenues
over Expenditures
4,362,933
8,553,870
(321,215)
319,576
OTHER FINANCING SOURCES (USES)
Transfers In
849,318
17,970
205,250
-
Transfers Out
(7,793,871)
(1,073,571)
(9,116)
(52,962)
Total Other Financing Sources (Uses)
(6,944,553)
(1,055,601)
196,134
(52,962)
Net Change in Fund Balances
(2,581,620)
7,498,269
(125,081)
266,614
Fund Balances, Beginning of Year
54,953,496
(4,466,436)
1,245,728
(12,215,981)
Prior Period Adjustment
-
-
-
Fund Balances, End of Year
$ 52,371,876
$ 3,031,833
$ 1,120,647
$ (11,949,367)
The accompanying notes are an integral part of this statement. 18 Capital Projects
Developer
Developer
Total
Fees
Fees
Non -Major
Governmental
Parks
Drainage
Funds
Funds
$ -
$ -
$ 1,096,845
$ 13,283,544
-
-
-
4,600,872
-
-
92,536
1,567,185
-
-
-
311,936
-
-
-
22,299
-
-
-
987,628
-
-
381,295
96,321
592,098
2,033,713
4,490,771
90,111
356,791
3,302,660
19, 719, 637
2,754
-
271,625
365,311
3,000
3,777,783
6,835
5,682,031
192,186
4,726,672
6,804,214
51,412,509
-
-
68,459
4,320,276
-
-
55,752
1,192,242
-
-
-
814,756
18,631
93,592
1,608,921
4,499,705
-
-
19,977
10,758,027
-
-
-
3,568,310
-
-
1,549,946
1,549,946
-
-
48,943
1,626,246
(453,788)
5,483
682,840
13,149,699
65,085
3,701
9,522,381
10,663,705
(74,778)
(59,060)
(1,810,347)
(10,873,705)
(9,693)
(55,359)
7,712,034
(210,000)
(463,481)
(49,876)
8,394,874
12,939,699
(4,444,797)
(3,499,773)
(3,648,557)
27,923,680
- - 365,546 365,546
$ (4,908,278) $ (3,549,649) $ 5,111,863 $ 41,228,925
The accompanying notes are an integral part of this statement. 19 City of Yucaipa
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities Year Ended June 30, 2021
Net change in fund balances - total governmental funds $ 12,939,699 Amounts reported for governmental activities in the Statement of Activities are different because:
Governmental funds report capital outlays as expenditures. However, in the Statement of Activities the cost of these assets is allocated over their estimated useful lives as depreciation expense:
Capital Outlay
5,144,319
Depreciation
(6,752,130)
Disposals
(647,539)
Donation of Capital Assets
1,311,716
The internal service fund is reported as a proprietary fund separate from the governmental funds. The revenues and expenses of the internal service fund are included in the statement of activities. (175,362)
Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the funds. This is the net change in unavailable revenue for the current period. (3,768,060) Amounts for deferred inflows and deferred outflows related to the City's Net Pension and OPEB Liabilities are not reported in the funds. This is the net change in deferred inflows and outflows related to these liabilities:
Deferred Outflows Related to Pensions 433,515
Deferred Inflows Related to Pensions (103,984)
Deferred Outflows Related to Total OPEB Liability 167,394 Deferred Inflows Related to Total OPEB Liability 5,081
Some expenses reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds.
Compensated Absences (64,187)
Net Pension Liability (561,697)
Total OPEB Liability (362,541)
Change in net position of governmental activities $ 7,566,224 The accompanying notes are an integral part of this statement. 20 City of Yucaipa
Statement of Net Position
Proprietary Fund
June 30, 2021
ASSETS
Current:
Cash and Investments
Accounts Receivable
Interest Receivable
Total Current Assets
LIABILITIES
Current:
Accounts Payable
Accrued Liabilities
Total Current Liabilities
NET POSITION
Unrestricted
Total Net Position
Governmental
Activities -
Internal Service
Fund
$ 382,266
14 382,280
26,557
75,000
101,557
280,723
$ 280,723
The accompanying notes are an integral part of this statement. 21 City of Yucaipa
Statement of Revenues, Expenses, and Changes in Net Position Proprietary Fund
Year Ended June 30, 2021
Governmental
Activities -
Internal Service
Fund
OPERATING REVENUES
Charges for Services
$ -
Other Income
155,059
Total Operating Revenues
155,059
OPERATING EXPENSES
Professional Services 1,865
Property and Liability Premiums 399,576
Claims Expense 139,513
Total Operating Expenses 540,954
Operating Income (Loss) (385,895)
NON -OPERATING REVENUES (EXPENSES)
Investment Earnings 533
Intergovernmental -
Total Non -Operating Revenues (Expenses) 533
Income (Loss) before contributions and transfers (385,362) Transfers In 210,000
Transfers Out -
Total Transfers 210,000
Change in Net Position (175,362)
Total Net Position, Beginning of Year 456,085
Total Net Position, End of Year $ 280,723
The accompanying notes are an integral part of this statement. 22 City of Yucaipa
Statement of Cash Flows
Proprietary Fund
Year Ended June 30, 2021
Governmental
Activities -
Internal Service
Fund
Cash Flows from Operating Activities
Cash Received from Users $ -
Cash Paid to Suppliers for Goods and Service (399,591)
Cash Paid for Claims (139,513)
Other Income 203,209
Net Cash Provided (Used) by Operating Activities (335,895) Cash Flows from Non -Capital Financing Activities
Transfers from Other Funds 210,000
Net Cash Provided (Used) by Non -Capital Financing Activities 210,000 Cash Flows from Investing Activities
Interest on Investments 664
Net Cash Provided (Used) by Investing Activities 664
Net Increase (Decrease) in Cash and Cash Equivalents (125,231) Cash and
Cash
Equivalents, Beginning of Year
507,497
Cash and
Cash
Equivalents, End of Year
$ 382,266
Reconciliation of Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities
Operating income (loss) $ (385,895)
Adjustments to reconcile operating income (loss)
to net cash provided (used) by operating activities:
(Increase) Decrease in Accounts Receivable 48,150
Increase (Decrease) in Accounts Payable 1,850
Net Cash Provided (Used) By Operating Activities $ (335,895) The accompanying notes are an integral part of this statement. 23 City of Yucaipa
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2021
Successor Agency
Private -Purpose
Trust Fund
ASSETS
Cash and Investments $ 515,829
Cash and Investments with Fiscal Agent 779,648
Accounts Receivable -
Interest Receivable 269
Total Assets
LIABILITIES
Accounts Payable
Interest Payable
Bonds Payable
Total Liabilities
NET POSITION
Restricted for Successor Agency Activities
Restricted for Individuals and Organizations
The accompanying notes are an integral part of this statement.
Custodial
Funds
$ 2,822,188
2,371,370
15,734
1,404
1,295,746 5,210,696
3,112
117,143
6,771,516
6,891,771
584
584
(5,596,025) -
5,210,112
$ (5,596,025) $ 5,210,112
24 City of Yucaipa
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
Year Ended June 30, 2021
ADDITIONS
Taxes and Assessments Collected for Others
Investment Income
Other
Total Additions
DEDUCTIONS
Administration Costs
Interest Expense
Payments to Bondholders
Total Deductions
Change in Net Position
Net Position - Beginning, Restated
Net Position - Ending
Successor Agency
Private -Purpose
Trust Fund
$ 623,531
4,683
100,000
728,214
Custodial
Funds
$ 2,199,156
18,887
2,218,043
109,282
85,659
361,613
-
-
2,150,262
470,895
2,235,921
257,319
(17,878)
(5,853,344)
5,227,990
$ (5,596,025) $
5,210,112
The accompanying notes are an integral part of this statement. 25 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of the City of Yucaipa, California (the City) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard -setting body for establishing governmental accounting and financial reporting principles. The more significant of the City's accounting policies are described below.
A) Reporting Entity
The City of Yucaipa was incorporated on November 27, 1989 under the general laws of the State of California.
The City operates under the Council -Manager form of government.
As required by generally accepted accounting principles, these financial statements present the City of Yucaipa and its component units, entities for which the City is considered to be financially accountable. The City is considered to be financially accountable for an organization if the City appoints a voting majority of that organization's governing body and the City is able to impose its will on that organization or there is a potential for the organization to provide specific financial benefits to or impose specific financial burdens on the City.
The City is also considered to be financially accountable for an organization if that organization is fiscally dependent (i.e., it is unable to adopt its budget, levy taxes, set rates or charges, or issue bonded debt without approval from the City). In certain cases, other organizations are included as component units if the nature and significance of their relationship with the City are such that their exclusion would cause the City's financial statements to be misleading or incomplete.
Currently, the City of Yucaipa does not have any component units to report.
B) Basis of Accounting and Measurement Focus
The basic financial statements of the City are composed of the following:
o Government -wide financial statements
o Fund financial statements
o Notes to the financial statements
Government -Wide Financial Statements
Government -wide financial statements display information about the reporting government as a whole, except for its fiduciary activities. Eliminations have been made in the Statement of Activities so that certain allocated expenses are recorded only once (by the function to which they were allocated). However, general government expenses have not been allocated as indirect expenses to the various functions of the City.
Government -wide financial statements are presented using the economic resources measurement focus and accrual basis of accounting. Under the economic resources measurement focus, all (both current and long- term) economic resources and obligations of the reporting government are reported in the government -wide financial statements. Basis of accounting refers to when revenues and expenses are recognized in the accounts and reported in the financial statements. Under the accrual basis of accounting, revenues, expenses, gains, losses, assets and liabilities resulting from exchange and exchange -like transactions are recognized when the exchange takes place. Revenues, expenses, gains, losses, assets and liabilities resulting from non -exchange transactions are recognized in accordance with the requirements of GASB Statement No. 33, as amended.
26 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued Program revenues include charges for services and payments made by parties outside the reporting government's citizenry if that money is restricted to a particular program. Program revenues are netted with program expenses in the statement of activities to present the net cost of each program.
Amounts paid to acquire capital assets are capitalized as assets in the government -wide financial statements, rather than reported as an expense. Proceeds of long-term debt are recorded as a liability in the government - wide financial statements, rather than as an other financing source. Amounts paid to reduce long-term indebtedness of the reporting government are reported as a reduction of the related liability, rather than as an expense.
Fund Financial Statements
The underlying accounting system of the City is organized and operated on the basis of separate funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for with a separate set of self -balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. 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.
Fund financial statements for the primary government's governmental funds are presented after the government -wide financial statements. These statements display information about the major funds individually and nonmajor funds in the aggregate for all funds.
Governmental Funds
In the fund financial statements, governmental funds are presented using the modified accrual basis of accounting. Their revenues are recognized when they become measurable and available as net current assets. Measurable means that the amounts can be estimated, or otherwise determined. Available means that the amounts were collected during the reporting period or soon enough thereafter to be available to finance the expenditures accrued for the reporting period.
The City uses an availability period of 60 days, except for grants which are considered available if they are collected within 120 days after year-end. Sales taxes, property taxes, franchise taxes, gas taxes, motor vehicle in lieu, transient occupancy taxes, grants and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues in the current fiscal period to the extent normally collected within the availability period. Other revenue items are considered to be measurable and available when cash is received by the government.
Revenue recognition is subject to the measurable and availability criteria for the governmental funds in the fund financial statements. Exchange transactions are recognized as revenues in the period in which they are earned (i.e., the related goods or services are provided). Locally imposed derived tax revenues are recognized as revenues in the period in which the underlying exchange transaction upon which they are based takes place. Imposed nonexchange transactions are recognized as revenues in the period for which they were imposed. If the period of use is not specified, they are recognized as revenues when an enforceable legal claim to the revenues arises or when they are received, whichever occurs first. Government -mandated and voluntary nonexchange transactions are recognized as revenues when all applicable eligibility requirements have been met.
27 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued In the fund financial statements, governmental funds are presented using the current financial resources measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. The reported fund balance (net current assets) is considered to be a measure of "available spendable resources." Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of "available spendable resources" during a period.
Non -current portions of long-term receivables due to governmental funds are reported on their balance sheets in spite of their spending measurement focus. Special reporting treatments are used to indicate, however, that they should not be considered "available spendable resources," since they do not represent the net current assets.
Recognition of governmental fund type revenues represented by non -current receivables are deferred until they become current receivables. Non -current portions of long-term receivables are offset by nonspendable fund balance.
Due to the nature of their spending measurement focus, expenditure recognition for governmental fund types excludes amounts represented by noncurrent liabilities. Since they do not affect current assets, such long- term amounts are not recognized as governmental fund type expenditures or fund liabilities.
Amounts expended to acquire capital assets are recorded as expenditures in the year that resources were expended, rather than as fund assets. The proceeds of long-term debt are recorded as other financing sources rather than as a fund liability. Amounts paid to reduce long-term indebtedness are reported as fund expenditures.
When both restricted and unrestricted resources are combined in a fund, expenses are considered to be paid first from restricted resources, and then from unrestricted resources.
Proprietary Fund and Fiduciary Funds
The City's internal service fund is a proprietary fund. In the fund financial statements, the proprietary fund and fiduciary 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, the proprietary fund and the private -purpose trust fund are presented using the economic resources measurement focus. This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in total net position.
The proprietary fund distinguishes operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the City's internal service fund are charges to internal customers for risk management functions. Operating expenses for the internal service fund include the cost of services and administrative expenses. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. 28 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued C) Fund Classifications
The City reports the following major governmental funds:
The General Fund is the City's primary operating fund. It is used to account for all financial resources except those required to be accounted for in another fund.
The Measure I Special Revenue Fund accounts for the '/z% sales tax that is required to be used for the maintenance and improvement of City streets.
The Miscellaneous Special Revenue Fund accounts for various grant revenues received for restricted purposes.
The Developer Fees Public Facilities Capital Projects Fund accounts for and reports financial resources collected from development impact fees on new development and restricted for construction of public facilities.
The Developer Fees Parks Capital Projects Fund accounts for and reports financial resources collected from development impact fees on new development and restricted for construction of park facilities.
The Developer Fees Drainage Capital Projects Fund accounts for and reports financial resources collected from development impact fees on new development and restricted for drainage facilities.
Additionally, the City reports the following fund types:
The Self Insurance Internal Service Fund accounts for self -funded insurance. Departments of the City are charged for services provided or benefits received from this fund.
The Private -purpose Trust Fund accounts for the balances and transactions of the Successor Agency to the Yucaipa Redevelopment Agency.
The Custodial Fund accounts for monies held for assessment districts, and other deposits.
D) Cash and Investments
Cash includes amounts in demand and time deposits. Investments are reported in the accompanying financial statements at fair value, except for certain certificates of deposit and investment contracts that are reported at cost because they are not transferable and they have terms that are not affected by changes in market interest rates. Changes in fair value that occur during a fiscal year are recognized as investment income reported for that fiscal year. Investment income includes interest earnings, changes in fair value, and any gains or losses realized upon the liquidation, maturity, or sale of investments.
The City pools cash and investments of all funds, except for assets held by fiscal agents. Each fund's share in this pool is displayed in the accompanying financial statements as cash and investments. Investment income earned by the pooled investments is allocated to the various funds based on each fund's average cash and investment balance.
E) Cash Equivalents
For purposes of the statement of cash flows, cash equivalents are defined as short-term highly liquid investments that are both readily convertible to known amounts of cash or so near their maturity that they present insignificant risk of changes in value because of changes in interest rates, and have an original maturity date of 3 months or less.
29 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued F) Due from Other Governments
The amounts recorded as due from other governments, include sales taxes, property taxes, and grant revenues, collected or provided by Federal, State, County and City governments and remain unremitted to the City as of June 30, 2021.
G) Advances Between Funds
Advances receivable, as reported in the fund financial statements, are offset by nonspendable fund balance in the General Fund to indicate that they are not available for appropriation and are not expendable available financial resources.
H) Property Tax Calendar
Property taxes attach as an enforceable lien on property as of January 1, each year. Taxes are levied on July 1, and are payable in two installments no later than December 10, and April 10, of each year. The County of San Bernardino bills and collects the property taxes and remits them to the City in installments during the year. Under the provisions of NCGA Interpretation 3, property tax revenue is recognized in the fiscal year for which the taxes have been levied, provided it is collected within 60 days of the end of the fiscal year.
The County is permitted by State law (Proposition 13) to levy taxes at 1 % of full market value (at time of purchase) and can increase the property tax rate no more than 2% per year. The City receives a share of this basic levy proportionate to what was received in the 1976 to 1978 period and transferred to the City upon incorporation.
1) Claims and Judgments
The City maintains funds in the Self Insurance Internal Service Fund as a reserve for litigation, judgments and claims equal to a minimum of three times the City's self -insured retention. This reserve represents an estimate for claims, including "incurred but not reported" (IBNR).
J) Employee Leave Benefits
In accordance with GASB Statement No 16, a liability is recorded for unused balances only to the extent that it is probable that the unused balances will result in termination payments. This is estimated by including in the liability the unused balances of employees currently entitled to receive termination payment, as well as those who are expected to become eligible to receive termination benefits as a result of continuing their employment with the City. Other amounts of unused sick leave are excluded from the liability since their payment is contingent solely upon the occurrence of a future event (illness) which is outside the control of the City and the employee.
K) Capital Assets
Capital assets are recorded at cost where historical records are available and at an estimated historical cost where no historical records exist. Contributed capital assets received prior to the implementation of GASB 72 are valued at their estimated fair market value at the date of the contribution. Contributed capital assets received subsequent to the implementation of GASB 72 are recorded at acquisition value as of the date received. Generally, capital asset purchases in excess of $10,000 and infrastructure greater than $100,000 are capitalized.
30 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued Capital assets include public domain (infrastructure) assets consisting of certain improvements including roads, streets, sidewalks, medians and storm drains. Depreciation has been provided using the straight-line method over the estimated useful life of the asset in the government -wide financial statements.
The following schedule summarizes capital asset useful lives:
Building and Improvements 10 - 30 years
Equipment 7 - 10 years
Vehicles 7 - 10 years
Infrastructure 10 - 30 years
L) Use of Estimates
The preparation of 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.
M) Fund Equity
In the government -wide financial statements, net position is classified in the following categories:
Net investment in capital assets describes the portion of net position which is represented by the current net book value of the City's capital assets, less the outstanding balance of any debt issued to finance these assets.
Restricted describes the portion of net position which is restricted as to use by the terms and conditions of agreements with outside parties, governmental regulation, laws, or other restrictions which the City cannot unilaterally alter.
Unrestricted describes the portion of net position which is not restricted to use N) Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents consumption of net position that applies to future period(s) and so will not be recognized as an outflow of resources (expense) until then. The City reports deferred outflows of resources relating to the Net Pension Liability and the Total OPEB Liability.
In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The City has certain items, which arise only under the modified accrual basis of accounting, which qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is reported in the governmental funds balance sheet. The governmental funds report unavailable revenues from property taxes, special assessments, grant receivables, and other miscellaneous receivables. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available. In addition, the City reports deferred inflows relating to the Net Pension Liability and the Total OPEB Liability.
31 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued O) Net Position Flow Assumption
Sometimes the City will fund outlays for a particular purpose from both restricted (e.g. restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted net position and unrestricted net position in the statement of net position, a flow assumption must be made about the order in which the resources are considered to be applied. It is the City's policy to consider restricted net position to have been depleted before unrestricted net position.
P) Implementation of Governmental Accounting Standards Board (GASB) Pronouncements The Governmental Accounting Standards Board has issued the following Statements, which may affect the City's financial reporting requirements in the future:
GASB 87 — Leases: This Statement requires recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. The requirements of this Statement are effective for reporting periods beginning after December 15, 2020.
GASB 89 — Accounting for Interest Cost Incurred before the End of a Construction Period: This Statement establishes accounting requirements for interest cost incurred before the end of a construction period. The requirements of this Statement are effective for reporting periods beginning after December 15, 2020.
GASB 91 — Conduit Debt Obligations: The primary objectives of this Statement are to provide a single method of reporting conduit debt obligations by issuers and eliminate diversity in practice. The requirements of this Statement are effective for reporting periods beginning after December 15, 2021.
GASB 92 — Omnibus 2020: The requirements of this Statement will enhance comparability in the application of accounting and financial reporting requirements and will improve the consistency of authoritative literature. More comparable reporting will improve the usefulness of information for users of state and local government financial statements. The requirements of this Statement will take effect for financial statements starting with the fiscal year that ends June 30, 2022.
GASB 96— Subscription -Based Information Technology Arrangements: The requirements of this Statement will improve financial reporting by establishing a definition for SBITAs and providing uniform guidance for accounting and financial reporting for transactions that meet that definition. The requirements of this Statement will take effect for financial statements starting with the fiscal year that ends June 30, 2023.
Q) Pensions
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City of Yucaipa's California Public Employees' Retirement System (CaIPERS) plan (Plan) and additions to/deductions from the Plan's fiduciary net position have been determined on the same basis as they are reported by CalPERS.
For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. 32 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued R) Other Postemployment Benefits (OPEB)
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 City's plan (OPEB Plan) and additions to/deductions from the OPEB Plan's fiduciary net position have been determined on the same basis. For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value. Generally accepted accounting principles require that the reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used:
Valuation Date July 1, 2019
Measurement Date June 30, 2020
Measurement Period July 1, 2019 to June 30, 2020
2) CASH AND INVESTMENTS
Cash and investments are classified in the accompanying financial statements as follows:
Statement of Net Position:
Cash and Investments $ 50,030,678
Restricted Cash and Investments 1,229,249
Statement of Fiduciary Net Postion:
Cash and Investments 3,338,017
Cash and Investments with Fiscal Agents 3,151,018
Total Cash and Investments $ 57,748,962
Cash and Investments consist of the following:
Cash on Hand $ 1,450
Deposits with Financial Institutions 13,427,187
Investments 44,320,325
Total Cash and Investments $ 57,748,962
Investments Authorized by the City's Investment Policy
The table below identifies the investment types that are authorized for the City by the California Government Code (or the City's investment policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the City's investment policy, if more restrictive) that address interest rate risk, credit risk, and concentration of credit risk.
This table does not address investments of debt proceeds held by bond trustee that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City's investment policy.
33 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
2) CASH AND INVESTMENTS - Continued
Authorized by
Maximum
Maximum
Authorized
Investment
Maximum
Percentage
Investment
Investment Type
Policy
Maturity*
of Portfolio*
In One Issuer*
Local Agency Bonds
No
5 years
None
None
U.S. Treasury Obligations
Yes
2 years
None
None
U.S. Agency Securities
Yes
5 years
None
None
Banker's Acceptances
Yes
180 days
40%
30%
Commercial Paper
Yes
270 days
15%
10%
Negotiable Certificates of Deposit
Yes
2 years
30%
None
Repurchase Agreements
Yes
1 year
None
None
Reverse Repurchase Agreements
No
92 days
20% of base value
None
Medium Term Notes
No
5 years
30%
None
Mutual Funds
No
N/A
20%
10%
Money Market Mutual Funds
Yes
N/A
20%
10%
Mortgage Pass -through Securities
No
5 years
20%
None
County Pooled Investment Funds
No
N/A
None
None
Local Agency Investment Fund (LAIF)
Yes
N/A
None
None
Supranationals
Yes
5 years
30%
None
JPA Pools (other investment pools)
No
N/A
None
None
*Based on state law requirements or investment policy requirements, whichever is more restrictive.
Investments Authorized by Debt Agreements
Investments of debt proceeds held by bond trustee are governed by provisions of the debt agreements, rather than the general provision of the California Government Code or the City's investment policy. The table below identifies the investment types that are authorized for investments held by bond trustee.
Authorized Maximum
Investment Type Maturity
U.S. Treasury Obligations
5 years
U.S. Agency Securities
5 years
Banker's Acceptances
180 days
Commercial Paper
270 days
Negotiable Certificates of Deposit
5 years
Medium Term Notes
5 years
Money Market Mutual Funds
N/A
Repurchase Agreements
270 days
Investment Contracts
30 years
Local Agency Investment Fund (LAIF)
N/A
Disclosures Relating to Interest Rate Risk
Maximum Maximum
Percentage Investment
of Portfolio In One Issuer
None
None
None
None
40%
30%
25%
10%
30%
None
30%
5%
20%
10%
30%
None
None
None
50 million
None
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rate. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer -term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations.
34 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
2) CASH AND INVESTMENTS - Continued
Information about the sensitivity of the fair values of the City's investments (including investments held by bond trustee) to market interest rate fluctuations is provided by the following table that shows the distribution of the City's investment by maturity:
Investment Type
U.S. Treasury Obligations
U.S. Agency Securities
Supranational Agency Securities
Medium Term Notes
Asset Backed Securities
LAIF
Money Market Mutual Funds
Held by Bond Trustee:
LAIF
Money Market Mutual Funds
Total Pooled Investments
Disclosures Relatina to Credit Risk
Remaining Maturity (in Months)
Total
12 Months or Less
1 to 2 Years 2 to 5 Years
$ 13, 636, 723
$ 126,387
$ 5,381,016 $ 8,129, 320
287,858
4,816
283,042 -
69, 830
-
69,830 -
1,378,745
-
454,984 923,761
280,045
-
175,149 104,896
25, 379, 775
25, 379, 775
- -
136, 330
136,330
- -
54,059 54,059 - 3,096,960 3,096,960 - -
$ 44, 320, 325 $ 28, 798, 327 $ 6,364,021 $ 9,157, 977
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of rating by a nationally recognized statistical rating organization.
Presented below is the minimum rating required by (where applicable) the California Government Code, the City's investment policy, or debt agreements, and the actual rating as of year-end for each investment type.
Investment Type
Total
Minimum
Legal
Rating
AAA
AA
Rating not
A and A-1 Required
U.S. Treasury Obligations
$ 13,636,723
N/A
$
$ 13,636,723
$ - $ -
U.S. Agency Securities
287,858
N/A
287,858
-
Supranational Agency Securities
69,830
A-
69,830
-
- -
Medium Term Notes
1,378,745
A-
-
993,983
384,762 -
Asset Backed Securities
280,045
AA
280,045
-
- -
LAIF
25,379,775
N/A
-
-
- 25,379,775
Money Market Mutual Funds
136,330
N/A
136,330
-
- -
Held by Bond Trustee:
LAIF
54,059
N/A
-
-
- 54,059
Money Market Mutual Funds
3,096,960
AAA
3,096,960
-
- -
Total Pooled Investments
$ 44,320,325
$ 3,583,165
$ 14,918,564
$ 384,762 $ 25,433,834
Concentration of Credit Risk
The investment policy of the City 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, 2021, there were no investments in any one issuer (other than U.S. Treasury securities, mutual funds, and external investment pools) that represent 5% or more of total City investments.
35 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
2) CASH AND INVESTMENTS - Continued
Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The California Government Code and the City's investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits, other than the following provision for deposits: The California Government Code requires that a financial institution secure deposits made by state or local government units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The market value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies. California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits. As of June 30, 2021, no deposits with financial institutions in excess of federal depository insurance limits were held in uncollateral ized accounts.
The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker -dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code and the City'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, 2021, none of the City's investments were held by the broker -dealer (counterparty) that was used by the City to purchase the securities.
For investments identified herein as held by bond trustee, the bond trustee selects the investments under terms of the applicable trust agreement, acquires the investment, and holds the investment on behalf of the reporting government.
Fair Value
The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. The City has the following recurring fair value measurements as of June 30, 2021:
Fair Value Hierarchy
Investment Type Total Level 1 Level 2 Level 3
U.S. Treasury Obligations $ 13,636,723 $ 13,636,723 $ - $ - U.S. Agency Securities 287,858 - 287,858 -
Supranational Agency Securities 69,830 - 69,830 -
Medium Term Notes 1,378,745 - 1,378,745 -
Asset Backed Securities 280,045 - 280,045 -
Total Pooled Investments $ 15,653,201 $ 13,636,723 $ 2,016,478 $ - Level 2 inputs are valued using a matrix pricing model.
Investment in State Investment Pool
The City is a voluntary participant in the LAIF that is regulated by the California Government Code under the 36 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
2) CASH AND INVESTMENTS - Continued
oversight of the Treasurer of the State of California. The fair value of the City's investment in this pool is reported at amounts based upon the City's pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis. 3) INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS
Interfund receivables and payables at June 30, 2021 are as follows:
Due From (Receivable) Due To (Payable) Amount
General Fund Non -major Governmental Funds $ 102,946
Non -major Governmental Funds Non -major Governmental Funds 761,000 Total $ 863,946
The interfund balance from the General Fund was the result of short-term borrowings to cover deficit cash balances at June 30, 2021 as well as for cash flow to cover operations.
Interfund advances at June 30, 2021 are as follows:
Advances to Advances From
Other Funds (Receivable) Other Funds (Payable) Amount
General Fund Developer Fees Public Facilities $ 12,451,569 Developer Fees Parks 5,102,229
Developer Fees Drainage 2,681,825
Non -major Governmental Funds 4,533,515
Non -major Governmental Funds Traffic Facilities 1,037,430 Total Advances To/From Other Funds $ 25,806,568
The interfund balances were a result of the City's General Fund financing the construction improvements to the Live Oak/Oak Glen Road Interchange, construction of the City Hall, Aquatic Center, construction of the Community Park, construction of Fire Station No. 3, and the Yucaipa Performing Arts Center, respectively. These balances are expected to be repaid with future revenues.
Interfund transfers at June 30, 2021 are as follows:
TRANSFERSIN
Miscellaneous
Developer
Developer
General
Special
Fees
Fees
Internal
Non -Major
TRANSFERS OUT
Fund
Measure I Revenue
Parks
Drainage
Service Fund
Funds
Total
General Fund
$ -
$ $ 205,250
$ 65,085
$ -
$ 210,000
$ 7,313,536
$ 7,793,871
Measure 1
2,107
-
-
3,701
-
1,067,763
1,073,571
Miscellaneous Special Revenue
9,116
-
-
9,116
Developer Fees Public Facilities
52,962
52,962
Developer Fees Parks
74,778
-
74,778
Developer Fees Drainage
-
59,060
59,060
Non -Major Funds
710,355
17,970
1,082,022
1,810,347
$ 849,318
$ 17,970 $ 205,250
$ 65,085
$ 3,701
$ 210,000
$ 9, 522, 381
$10, 873, 705
37 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
3) INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS - Continued The transfers from the General Fund to the other Major Funds and Non -Major Funds were to fund various park and facility projects and for paramedic services. The $210,000 transfer to the Internal Service Fund was to cover claims expenses. The $849,318 transfers from the various funds to the General Fund were to help fund various costs, including Covid-related expenditures.
The transfers from the Measure I fund to the Traffic Facilities and Non -Major Funds was to fund various street - related projects.
The $17,970 transfer from the Traffic Facilities Fund to the Measure I Fund was to help fund street -related projects.
The transfer from the Developer Fees Parks Fund to the Developer Fees Public Facilities Fund was to fund projects related to parks from prior years that were initially charged to the Developer Fees Facilities Fund.
The transfers from the Non -Major Funds to the Traffic Facilities Fund and other funds were to fund project costs for streets, parks, and various other public facilities. 4) CAPITAL ASSETS
Capital asset activity for the year ended June 30, 2021 is as follows:
Beginning
Ending
Governmental Activities:
Balance
Increases
Decreases
Balance
Buildings and Improvements
$ 15,199,756
$ 55,242
$ (60,315)
$ 15,194,683
Equipment
2,905,696
140,105
(36,013)
3,009,788
Vehicles
3,120,907
725,020
(45,235)
3,800,692
Infrastructure
248,695,869
2,027,191
(54,967)
250,668,093
Total Depreciable Capital Assets
269,922,228
2,947,558
(196,530)
272,673,256
Less Accumulated Depreciation:
Buildings and Improvements
(9,885,672)
(428,364)
60,315
(10,253,721)
Equipment
(1,621,573)
(341,249)
30,500
(1,932,322)
Vehicles
(2,119,812)
(296,850)
45,235
(2,371,427)
Infrastructure
(143,125,543)
(5,685,667)
54,966
(148,756,244)
Total Accumulated Depreciation
(156,752,600)
(6,752,130)
191,016
(163,313,714)
Net Depreciable Assets
113,169,628
(3,804,572)
(5,514)
109,359,542
Capital Assets, Not Depreciated:
Land
5,245,319
-
(642,025)
4,603,294
Rights of Way
57,369,923
1,311,717
-
58,681,640
Construction in Progress
17,790,177
5,144,319
(8,278,521)
14,655,975
Total Capital Assets Not Depreciated, Net
80,405,419
6,456,036
(8,920,546)
77,940,909
Total Capital Assets, Net
$ 193,575,047
$ 2,651,464
$ (8,926,060)
$ 187,300,451
Included in the decreases to Construction in Progress is $5,330,962 in prior year project costs which should have been expensed. Depreciation expense was charged to the following functions in the Statement of Activities:
38 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
4) CAPITAL ASSETS - Continued
General Government
Public Safety
Public Works
Community Development
Community Services
Total Depreciation Expense
5) CHANGES IN LONG-TERM LIABILITIES
$ 331,116
852,542
3,877,513
1,470,430
220,529
$ 6,752,130
The following is a summary of long-term liability activity, all of which are funded by the General Fund for the year ended June 30, 2021:
Beginning Ending Due Within Due Beyond
Balance Additions Deletions Balance One Year One Year
Governmental Activities:
Total OPEB Liability
1,959,897
362,541
- 2,322,438
- 2,322,438
Net Pension Liability
4,971,001
561,697
- 5,532,698
- 5,532,698
Compensated Absences
414,417
125,382
61,195 478,604
60,757 417,847
Total
$ 7, 345, 315
$1, 049, 620 $
61,195 $ 8, 333, 740 $
60,757 $ 8, 272, 983
Compensated Absences
It is the City's policy to permit employees to accumulate earned but unused vacation time. The balance of unpaid vacation time which has not matured at June 30, 2021 is recorded as a liability in the statement of net position. The General Fund finances this liability.
6) FIDUCIARY FUND LONG-TERM DEBT
The following is a summary of long-term debt activity for the City's fiduciary fund for the year ended June 30, 2021:
Beginning
Ending
Due Within
Due Beyond
Balance Additions
Deletions
Balance
One Year
One Year
Tax Allocation Bonds:
1998
$ 320,000 $ -
$ 25,000
$ 295,000
$ 30,000
$ 265,000
2004
1,540,000 -
50,000
1,490,000
50,000
1,440, 000
2010
5,090,000 -
120,000
4,970,000
125,000
4,845,000
Unamortized Premium
17,341 -
825
16,516
825
15,691
Total
$ 6, 967, 341 $ -
$ 195,825
$ 6, 771, 516
$ 205,825
$ 6, 565, 691
1998 Tax Allocation Bonds
In 1998, the Yucaipa Redevelopment Agency issued $720,000 of 1998 Tax Allocation Bonds. The proceeds were used to finance various improvement projects throughout the Agency. The bonds are payable exclusively from tax revenues allocated to the Agency. The 1998 Bonds consist of $720,000 of term bonds. 39 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
6) FIDUCIARY FUND LONG-TERM DEBT - Continued
The bonds accrue interest at rates between 4.00% and 5.60% and are payable semiannually on March 1 and September 1 of each year commencing September 1, 1998. Principal on the bonds is payable in amounts ranging from $15,000 to $50,000 and in annual installments commencing on March 1, 1998 and ending September 1, 2028. Per the bond covenants, the Agency is required to maintain on deposit a reserve fund in an amount equal to $53,638. At June 30, 2021, the amount held in the reserve account was $54,145. Future debt service requirements are as follows:
Fiscal Year Ending
June 30,
Principal
Interest
Total
2022
$ 30,000
$ 15,400
$ 45,400
2023
30,000
13,750
43,750
2024
30,000
12,100
42,100
2025
30,000
10,450
40,450
2026
35,000
8,662
43,662
2027
45,000
6,463
51,463
2028
45,000
3,987
48,987
2029
50,000
1,375
51,375
Totals
$ 295,000
$ 72,187
$ 367,187
2004 Tax Allocation Bonds
On October 12, 2004, the Yucaipa Redevelopment Agency issued $2,500,000 of 2004 Tax Allocation Bonds. The proceeds were used to finance various improvement projects throughout the Agency. The bonds are payable exclusively from pledged tax revenues. The 2004 Bonds consist of $2,500,000 of term bonds. The bonds accrue interest rates between 2.10% and 5.00% and are payable semiannually on March 1 and September 1 of each year commencing March 1, 2005. Principal on the bonds is payable in amounts ranging from $30,000 to $170,000 and is payable in semi-annual installments commencing on March 1, 2005 and ending September 1, 2034. Per the bond covenants, the Agency is required to maintain on deposit a reserve fund in an amount equal to $191,069.
At June 30, 2021, the amount held in the reserve account was $191,082. Future debt service requirements are as follows:
Fiscal Year Ending
June 30,
Principal
Interest
Total
2022
$ 50,000
$ 71,633
$ 121,633
2023
50,000
69,407
119,407
2024
55,000
67,011
122,011
2025
60,000
64,329
124,329
2026
85,000
60,900
145,900
2027
85,000
56,862
141,862
2028
90,000
52,650
142,650
2029
90,000
48,263
138,263
2030
145,000
42,534
187,534
2031
150,000
35,250
185,250
2032
155,000
27,625
182,625
2033
160,000
19,750
179,750
2034
170,000
11,500
181,500
2035
145,000
3,625
148,625
Totals
$ 1,490,000
$ 631,339
$ 2,121, 339
40 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
6) FIDUCIARY FUND LONG-TERM DEBT - Continued
2010 Tax Allocation Bonds
On November 2, 2010, the Yucaipa Redevelopment Agency issued $6,030,000 of 2010 Tax Allocation Bonds.
The proceeds are to be used to finance various improvement projects throughout the project area and are payable exclusively from pledged tax revenue. The 2010 Tax Allocation Bonds consisted of $6,030,000 of term bonds. The bonds accrue interest at rates between 4.00% and 5.50% and are payable semiannually on March 1 and September 1 of each year commencing March 1, 2011. Principal on the bonds is payable in amounts ranging from $85,000 to $525,000 and is payable in annual installments commencing on September 1, 2011 and ending September 1, 2040. The outstanding balance at June 30, 2021 was $4,970,000.
Per the bond covenants, the Agency is required to maintain a reserve account in an amount equal to $522,580.
At June 30, 2021, the amount held in the reserve account was $534,414. Future debt service requirements are as follows:
Fiscal Year Ending
June 30,
Principal
Interest
Total
2022
$ 125,000
$ 259,908
$ 384,908
2023
135,000
254,442
389,442
2024
140,000
248,390
388,390
2025
145,000
241,833
386,833
2026
125,000
235,378
360,378
2027
125,000
229,206
354,206
2028
135,000
222,622
357,622
2029
145,000
215,447
360,447
2030
155,000
207,759
362,759
2031
165,000
199,456
364,456
2032
175,000
190,422
365,422
2033
185,000
180,747
365,747
2034
195,000
170,534
365,534
2035
240,000
158,844
398,844
2036
405,000
141,509
546,509
2037
425,000
118,938
543,938
2038
450,000
94,875
544,875
2039
475,000
69,437
544,437
2040
500,000
42,625
542,625
2041
525,000
14,438
539,438
Totals
$ 4,970,000
$ 3,496,810
$ 8,466,810
7) PENSION PLAN
General Information about the Defined Benefit Pension Plan Plan Description - All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost -Sharing Multiple -Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees' Retirement System (CalPERS.) The Plan consists of individual rate plans (benefit tiers) within a safety risk pool (police and fire) and a miscellaneous risk pool (all others). Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous pools. Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under GASB Statement No. 68. 41 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
7) PENSION PLAN - Continued
Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The City of Yucaipa sponsors 2 rate plans (both are miscellaneous). Benefit provisions under the Plan are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.
Benefits Provided — The Plan is a cost -sharing multiple -employer defined benefit pension plan administered by the California Public Employees' Retirement System (CaIPERS). A full description of the pension plan benefit provisions, assumptions for funding purposes but not accounting purposes, and membership information is listed in the June 30, 2019 Annual Actuarial Valuation Report. Details of the benefits provided can be obtained in Appendix B of the June 30, 2019 actuarial valuation report. This report is a publicly available valuation report that can be obtained at CaIPERS' website under Forms and Publications.
The Plan's provisions and benefits in effect at June 30, 2021, are summarized as follows:
Hire date
Benefit formula
Benefit vesting schedule
Benefit payments
Retirement age
Monthly benefits, as a % of eligible compensation
Required employee contribution rates
Required employer contribution rates
Miscellaneous
Miscellaneous PEPRA
Prior to On or after
January 1, 2013 January 1, 2013
2% @ 55 2% @ 62
5 years service
monthly for life
55 2%
7%
11.746% + $353, 826
5 years service
monthly for life
62 2%
7.25%
7.874% + $5,976
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 rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.
Beginning in fiscal year 2016, CalPERS collects employer contributions for the Plan as a percentage of payroll for the normal cost portion as noted in the rates above and as a dollar amount for contributions toward the unfunded liability and side fund. The dollar amounts are billed on a monthly basis. The City's required contribution for the unfunded liability and side fund was $359,802 in fiscal year 2021. The City's contributions to the Plan for the year ended June 30, 2021 were $1,000,022.
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions
As of June 30, 2021, the City reported a net pension liability for its proportionate shares of the net pension liability of the Plan of $5,532,698.
42 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
7) PENSION PLAN - Continued
The City's net pension liability for the Plan is measured as the proportionate share of the net pension liability.
The net pension liability of the Plan is measured as of June 30, 2020, and the total pension liability for the Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2019 rolled forward to June 30, 2020 using standard update procedures. The City's proportion of the net pension liability was based on a projection of the City's long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined. The City's proportionate share of the net pension liability as of June 30, 2019, and 2020 was as follows:
Proportion - June 30, 2019
Proportion - June 30, 2020
Change- Increase (Decrease)
0.04851 %
0.05085%
0.00234%
For the year ended June 30, 2021, the City recognized pension expense of $1,232,188. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
Pension contributions subsequent to measurement date
Differences between actual and expected experience
Changes in assumptions
Change in employer's proportion
Differences between employer's contributions and
employer's proportionate share of contributions
Net differences between projected and actual
earnings on plan investments
Total
Deferred Outflows Deferred Inflows
of Resources of Resources
$ 1,000,022 $
285,116
218,116
9,546
164,358
$ 1,677,158
39,461
190,989
$ 230,450
$1,000,022 reported as deferred outflows related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2022. Other amounts reported as deferred outflows and deferred inflows related to pensions will be recognized as pension expense as follows:
Year Ending
June 30,
2022
$ 87,250
2023
159,617
2024
120,988
2025
78,832
2026
-
Thereafter
-
Actuarial Assumptions —The total pension liabilities in the June 30, 2019 actuarial valuations were determined using the following actuarial assumptions:
43 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
7) PENSION PLAN - Continued
Valuation date
June 30, 2019
Measurement date
June 30, 2020
Actuarial cost method
entry -age normal
Actuarial assumptions:
Discount rate
7.15%
Inflation
2.50%
Projected salary increase
(1)
Investment rate of return
7.15%
Mortality
(2)
(1) Depending on age, service and type of employment
(2) Derived using CaIPERS' Membership Data for all Funds.
The mortality table used was developed based on CalPERS-specific data. The probabilities of mortality are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015. Pre -retirement and Post - retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries. For more details on this table, please refer to the CalPERS Experience Study and Review of Actuarial Assumptions report from December 2017 that can be found on the CalPERS website.
Long-term Expected Rate of Return - The long-term expected rate of return on pension plan investments was determined using a building-block method in which best -estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations as well as the expected pension fund cash flows. Using historical returns of all the funds' asset classes, expected compound returns were calculated over the short-term (first 10 years) and the long-term (11-60 years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund.
The expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses. The expected real rates of return by asset class are as follows:
New Strategic Real Return Real Return
Asset Class Allocation Years 1 - 10 (1) Years 11+ (2)
Global Equity 50% 4.80% 5.98%
Global Fixed Income 28% 1.00% 2.62%
Inflation Assets
Private Equity
Real Assets
Liquidity
(1) An expected inflation of 2.0% used for this period. (2) An expected inflation of 2.92% used for this period. - 0.77% 1.81%
8% 6.30% 7.23%
13% 3.75% 4.93%
1 % - -0.92%
44 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
7) PENSION PLAN - Continued
Discount Rate — The discount rate used to measure the total pension liability for PERF C was 7.15%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.
Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate The following presents the City's proportionate share of the net pension liability for the Plan, calculated using the discount rate for the Plan, as well as what the City's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:
1 % Decrease 6.15%
Net Pension Liability $ 9,056,427
Current Discount Rate 7.15%
Net Pension Liability $ 5,532,698
1 % Increase 8.15%
Net Pension Liability $ 2,621,152
Pension Plan Fiduciary Net Position — Detailed information about each pension plan's fiduciary net position is available in the separately issued CalPERS financial reports.
Payable to the Pension Plan
At June 30, 2021, the City reported no payables to the pension plan, for outstanding contributions required for the year ended June 30, 2021.
8) OTHER POSTEMPLOYMENT BENEFITS
General Information About the OPEB Plan
Plan Description - The City provides the same medical plans to retirees and surviving spouses as to its active employees, with the exception that once a retiree becomes eligible for Medicare, he or she must join a Medicare HMO or a Medicare Supplement plan, with Medicare becoming the primary payer. The plan is a single -employer defined benefit post -employment healthcare benefits plan.
Benefits Provided - Employees are eligible for retiree health benefits if they retire from the City on or after age 50 and 5 years of service (age 52 for Miscellaneous PEPRA employees), and continue health insurance through a City -sponsored health insurance plan, the City will contribute the minimum monthly amount (as required by CalPERS) of the health insurance premium ($139 and $143 for the calendar years 2020 and 2021 respectively).
No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement 75. The City's health plan does not issue a publicly available financial report. 45 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
8) OTHER POSTEMPLOYMENT BENEFITS - Continued
Employees Covered by Benefit Terms — As of the June 30, 2019 actuarial valuation, the following current and former employees were covered by the benefit terms under the Plan:
Retirees or spouses of retirees
currently receiving benefits 12
Active employees 53
65 Contributions — The Plan and its contribution requirements are established by Memoranda of Understanding with the applicable employee bargaining units and may be amended by agreements between the City and the bargaining units. The annual contributions to the Plan are based on the costs to provide the benefits as described above on a pay as you go basis. For the fiscal year ended June 30, 2021, the City's pay-as-you-go costs were $24,094 and an implicit subsidy of $17,711.
Total OPEB Liability - The City's total OPEB liability was measured as of June 30, 2020 and the total OPEB liability used to calculate the OPEB liability was determined by an actuarial valuation dated June 30, 2019, based on the following actuarial methods and assumptions:
Valuation Date June 30, 2019
Actuarial Cost Method Entry Age, Level Percent of Pay
Mortality CalPERS 1997-2015 Experience Study
Age at Retirement 60
Health Care Trend Rate 5.90% for 2020; 5.80% for 2021; and decreasing 0.10% per year to an ultimate rate of 5.00% for 2029 and later years
Inflation Rate 3.00%
Salary Changes 3.00%
Discount Rate 3.13% - Bond Buyer 20-Bond GO index: June 30, 2019
2.45% - Bond Buyer 20-Bond GO index: June 30, 2020
Medical CPI 3.50% - used to project PERS statutory minimum benefit Discount Rate — The discount rate used to measure the total OPEB liability was 2.45 percent and is based on the Bond Buyer 20-Bond GO index.
Changes in the Total OPEB Liability
Balance at June 30, 2020 (June 30, 2019 measurement date) Changes in the year:
Service cost
Interest on the total OPEB liability
Changes in assumptions or other inputs
Difference between expected and actual
experience, changes of assumptions
Benefit payments, including implicit subsidy
Net changes
Balance at June 30, 2021 (June 30, 2020 measurement date) Total OPEB
Liability (TOL)
$ 1,959,897
142,461
65,155
196,730
(41, 805)
362, 541
$ 2,322,438
46 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
8) OTHER POSTEMPLOYMENT BENEFITS - Continued
Sensitivity of the Total OPEB Liability to changes in the Discount Rate - The following presents the total OPEB liability of the City if it were calculated using a discount rate that is 1-percentage-point lower or 1- percentage-point higher than the current discount rate:
1 % Decrease Discount Rate 1 % 1 ncrease
(1.45%) (2.45%) (3.45%)
Total OPEB liability $ 2,670,724 $ 2,322,438 $ 2,042,468 Sensitivity of the Net OPEB Liability to changes in the Healthcare Cost Trend Rates - The following presents the net OPEB liability of the City, as well as what the City's Net OPEB would be if it were calculated using a healthcare cost trend rate that is 1-percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rate:
1 % Decrease Current Rates 1 % Increase
(4.90% for 2020, (5.90% for 2020, (6.90% for 2020,
4.00% ultimate) 5.00% ultimate) 6.00% ultimate)
Total OPEB liability $ 1,994,414 $ 2,322,438 $ 2,739,213 OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB - For the year ended June 30, 2021, the City recognized OPEB expense of $252,704. The City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
OPEB Contributions Subsequent to the Measurement Date $ 47,193 $ - Differences Between Expected and Actual Experience - 28,965 Changes in Assumptions or Other Inputs 311,513 -
Total $ 358,706 $ 28,965
The $47,193 reported as deferred outflows of resources related to contributions subsequent to the June 30, 2020 measurement date will be recognized as a reduction of the total OPEB liability during the fiscal year ended June 30, 2022. Other amounts reported as deferred outflows of resources related to OPEB will be recognized as expense as follows:
Year Ending
June 30,
2022 $
45,088
2023
45,088
2024
45,088
2025
45,088
2026
45,088
Thereafter
57,108
9) SUMMARY DISCLOSURE OF SELF-INSURANCE CONTINGENCIES
The City maintains self-insurance programs for workers' compensation, general and auto liability. Claims are processed by an independent third -party claims administrator. The general and auto liability programs provide for self-insurance up to a maximum of $50,000 per incident. Claims which exceed the limit are insured by the 47 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
9) SUMMARY DISCLOSURE OF SELF-INSURANCE CONTINGENCIES — Continued California Intergovernmental Risk Authority (CIRA), a joint powers authority of California municipalities, up to a maximum $15,000,000 per incident.
The membership of CIRA consists of thirty-seven California cities. The primary purpose of CIRA is to provide coverage for losses from tort liability, workers' compensation, health benefits, and the ownership or use of real and personal property. A representative from each member city, appointed to the position by their City Council, serves on the Governing Board of the Authority. Each member of the Board has an equal vote in matters concerning the Authority.
The City also participates in CIRA's workers' compensation program. The program operates as a partially self - insured program, which is combined with joint -purchased commercial excess insurance. Participants' losses are pooled to the programs' self -insured retention of $250,000 then the commercial excess insurance attaches and provides coverage to statutory limits.
Included in the accrued claims of the Internal Service Fund is an estimated liability for claims filed, as calculated by the City's third -party claims administrator, but not paid, in the amount of $75,000 for general and auto liability claims.
Fiscal
Year
Claims Payable
Beginning of Year
Claims Payable
Additions Deletions End of Year
6/30/21 $ 75,000 $ 139,513 $ (139,513) $ 75,000
6/30/20 75,000 114,831 (114,831) 75,000
6/30/19 75,000 117,802 (117,802) 75,000
During the past three fiscal years none of the above programs of protection have had settlements or judgments that exceeded pooled or insured coverage. There have been no significant reductions in pooled or insured liability covered from coverage in the prior year.
10) DEVELOPMENT IMPACT FEES
The City of Yucaipa collects development impact fees for the construction of new development in accordance with the State Government Code. Normally, the City collects the development impact fees at the time building permits are issued. City policy allows builders to defer fees until the issuance of certificates of occupancy. The City secures the deferral of such fees by putting liens on the properties. The liens are then released when payment of the fees is received. As of June 30, 2021, deferral fees owed to the City for all types of development impact fees totaled approximately $219,941.
The City development impact fee ordinances allow for the entering of agreements with developers for the construction of improvements identified to be paid for such fees. Through such agreements, the developer constructs certain public improvements and is given credit for the value of the improvements to offset developer fees due from the developer.
11) COMMUNITY FACILITIES DISTRICT NO. 98-1 (CHAPMAN HEIGHTS) During the 1998-99 fiscal year the Community Facilities District No. 98-1 of the City of Yucaipa (Chapman Heights) (CFD) was formed. The District was formed to finance a portion of the costs associated with the construction of certain public facilities including streets, utilities, parks, landscaping and other infrastructure improvements within the Chapman Heights project. These other improvements include improvements to water and sewer facilities, which will be owned and operated by the Yucaipa Valley Water District, and certain storm drainage facilities which will be owned and operated by the San Bernardino County Flood Control District. 48 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
11) COMMUNITY FACILITIES DISTRICT NO. 98-1 (CHAPMAN HEIGHTS) - Continued The City has entered into joint community facilities agreements with the Flood Control District and the Water District whereby proceeds from the sale of Bonds will be used for the acquisition of the facilities as discussed above. On March 9, 1999, the CFD issued $17,500,000 of bonds for the purpose of constructing infrastructure as discussed above. The 1998 Special Tax Bonds are authorized pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, and are payable from certain special taxes to be levied on property within CFD 98-1 (Chapman Heights) of the City of Yucaipa, according to the Rate and Method of Apportionment of Special Tax approved by the voters within the district and by the City Council of the City. In June 2002, the CFD issued an additional $5,800,000 in bonds. In July 2003, the CFD issued an additional $6,700,000 in bonds.
In November 2011, the City issued $28 million in Special Tax Refunding Bonds, to refund the 1999, 2002 and 2003 CFD Bonds. The principal balance outstanding on the 2011 Refunding Bonds, as of June 30, 2021, is $16,975,000. Neither the faith and credit nor the taxing power of the City, the County of San Bernardino, the State of California or any political subdivision thereof is pledged to the payment of the bonds. Except for the special taxes, no other taxes are pledged to the payment of the bonds. The bonds are not general obligations of the City or County or general obligations of the District, but are limited obligations of the District payable solely from the special taxes as described in the official bond documents. 12) COMMITMENTS AND CONTINGENCIES
The City has contracts with the County of San Bernardino for various services, most notably law enforcement.
These service contracts are renegotiated annually and cancelable by the City or the County. These are based on an hourly rate and may be adjusted throughout the fiscal year.
The City is involved as a defendant in various legal proceedings. While it is not feasible to predict or determine the outcome in these cases, it is the opinion of the City that the outcome will have no material adverse effect on the financial position of the City.
The City has received State and Federal funds that are subject to review and audit by the grantor agencies. Such audits could generate expenditure disallowances under terms of the grants; however, it is believed that any such reimbursements will not be significant.
Remaining commitments on construction contracts at year-end were $2,994,148. 13) FUND BALANCE
The City implemented GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions as of June 30, 2011. Fund balances in governmental funds are reported in classifications that comprise a hierarchy based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. The City considers restricted fund balance to have been spent first when an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available. Similarly, when an expenditure is incurred for purposes for which amounts in any of the unrestricted classifications of fund balance could be used, the City considers committed amounts to be reduced first, followed by assigned amounts and then unassigned amounts.
The following classifications describe the relative strength of the spending constraints placed on the purposes for which resources can be used:
Nonspendable Fund Balance - Amounts that cannot be spent either because they are in nonspendable form or are required to be maintained intact.
Restricted Fund Balance - Amounts that are constrained to specific purposes by state or federal laws, or externally imposed conditions by grantors or creditors. 49 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
13) FUND BALANCE - Continued
Committed Fund Balance - Amounts that may be specified by the City Council by ordinance to formally commit part of the City's fund balances or future revenues for a specific purpose(s) or program. To change or repeal any such commitment will require an additional formal City Council action utilizing the same type of action that was originally used.
The City's committed fund balance includes:
• General Fund Emergency Operating Contingency:
Fund balance in the General Fund has been committed for emergency contingencies, as set by resolution, and is specifically for severe economic emergencies defined as a state or federal state of emergency, or declaration of a local emergency as defined in the City of Yucaipa Municipal Code Section
8.36.030.
• Economic Stabilization Contingency:
Fund balance in the General Fund has been committed for economic stabilization contingencies, set by resolution in the amount of $1,000,000, and is available specifically for use in an event of severe fiscal hardship or instability, defined as any fiscal year in which actual General Fund revenue is at least 30% less than budgeted General Fund revenue.
Assigned Fund Balance - Amounts that are constrained by the City Council's intent to use specified financial resources for specific purposes, but are neither restricted nor committed. The City's fund balance policy delegates the authority to assign amounts to be used for specific purposes to the City Manager, or his designee.
Unassigned Fund Balance - These are either residual positive net resources of fund balance in excess of what can properly be classified in one of the other four categories, or negative balances.
The City's governmental fund balances at June 30, 2021, are presented below:
Miscellaneous
Developer
Developer
Developer
Non -major
General
Special
Fees Public
Fees
Fees
Governmental
Fund
Measure I Revenue Fund
Facilities Fund
Parks
Drainage
Funds
Total
Nonspendable:
Advances to Other Funds
$ 24,769,138
$ $
$
$
$
$
$ 24,769,138
Prepaids
77,154
77,154
Restricted for:
Capital Projects
-
1,120,647
8,399
1,129,046
Housing
-
-
-
Public Works/Street Projects
3,031,833
172,578
3,204,411
Public Safety
-
842,456
842,456
LLMD
2,671,815
2,671,815
Community Services/Education
1,377,706
1,377,706
Committed to:
Emergency Contingency
4,611,873
-
4,611,873
Economic Stabilization
1,000,000
1,000,000
OPEB
565,426
565,426
Fire Protection
9,676,305
9,676,305
Assigned to:
Capital Projects
-
5,449,265
5,449,265
Continuing Appropriations
2,387,911
-
2,387,911
Unassigned
9,284,069
- -
(11,949,367)
(4,908,278)
(3,549,649)
(5,410,356)
(16,533,581)
Total Fund Balances
$ 52,371,876
$ 3,031,833 $ 1,120,647
$ (11,949,367)
$ (4,908,278)
$ (3,549,649)
$ 5,111,863
$ 41,228,925
50 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
14) ACCUMULATED FUND DEFICITS
At June 30, 2021, the following funds had deficit fund balances:
Major Funds - Capital Projects:
Developer Fees Public Facilities
Developer Fees Parks
Developer Fees Drainage
Non -major Funds
Housing Authority
Miscellaneous Capital Projects
Air Quality Improvement
Traffic Facilities
Developer Impact Fees Fire
Low Water Crossings
(11,949,367)
(4,908,278)
(3,549,649)
(8,691)
(411,223)
(255,869)
(554,657)
(2,205,300)
(1,974,616)
Management's explanations for the resolution of accumulated fund deficits in the funds are summarized as follows:
Developer Impact Fees Public Facilities Fund - The deficit fund balance is the result of advances made from the General Fund for the construction of various public facilities. These include the City Hall, Police Station, and the Yucaipa Performing Arts Center. The deficit fund balance will be offset by future development impact fee revenues as they are collected. The advances in the General Fund are included as nonspendable fund balance due to the long-term nature of these receivables.
Developer Impact Fees Parks Fund - The deficit fund balance is the result of accumulated expenditures in excess of revenues, funded by advances made from the General Fund for the construction of Community Park.
The deficit fund balance will be offset by future development impact fee revenues, as they are collected. The advances in the General Fund are included as nonspendable fund balance due to the long-term nature of these receivables.
Developer Fees Drainage Fund - The deficit fund balance is the result of advances and short-term loans made from the General Fund. Advances made to this fund were for the construction of regional drainage projects.
The deficit fund balance will be offset by future development impact fee revenues, as they are collected and by the receipt of resources from grant obligations. The advances made by the General Fund are included as nonspendable fund balance due to the long-term nature of these receivables.
Developer Fees Fire Fund - The deficit fund balance is the result of accumulated expenditures in excess of revenues, funded by advances made from the Fire Fund for the construction of Fire Station #3. The deficit fund balance will be offset by future development impact fee revenues, as they are collected. The advances in the Fire Fund are included as restricted fund balance due to the long-term nature of these receivables.
Low Water Crossings Fund - The deficit fund balance is the result of accumulated expenditures in excess of revenues, funded by short-term interfund loans made from the General Fund. The deficit fund balance will be offset by completion of several ongoing projects and by the receipt of resources from grant obligations.
Other deficits will be funded by future revenues and/or transfers as deemed necessary. 51 City of Yucaipa
Notes to Financial Statements
Year Ended June 30, 2021
15) PRIOR PERIOD ADJUSTMENTS
Beginning fund balance in the non -major governmental funds, and beginning net position in the Statement of Activities has been increased by $365,546 for previously unrecorded Loans Receivable. Beginning net position in the Statement of Activities was also decreased by $5,330,962 to write off project costs previously reported as Construction in Progress.
Beginning net position in the custodial funds was increased by $5,227,990 due to the implementation of new GASB pronouncements.
52 REQUIRED SUPPLEMENTARY INFORMATION
City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - General Fund
Year Ended June 30, 2021
REVENUES
Taxes:
Property Taxes
Sales and Use Taxes
Franchise Taxes
Documentary Transfer Tax
Other Taxes
Licenses and Permits
Fines and Forfeitures
Charges for Services
Intergovernmental
Investment Income
Other
Total Revenues
EXPENDITURES
Current:
General Government:
City Manager
City Council
General Services/City Clerk
Administrative Services
Non -departmental
Community Development
Building and Safety
Public Works
Public Safety:
Police Services
Fire Protection Services
Community Services
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Variance with
Final Budget
Budgeted
Amounts
Actual
Positive
Original
Final
Amounts
(Negative)
$ 11,651,956
$ 11,650,034
$ 12,186,699
$ 536,665
4,138,460
3,513,701
4,600,872
1,087,171
1,328,600
1,311,000
1,474,649
163,649
175,000
175,000
311,936
136,936
21,600
21,600
22,299
699
582,068
545,153
987,628
442,475
16,000
56,000
374,502
318,502
2,698,409
3,104,750
1,610,723
(1,494,027)
5,467,384
5,844,951
5,907,405
62,454
260,000
260,000
80,344
(179,656)
644,175
596,567
848,451
251,884
26,983,652
27,078,756
28,405,508
1,326,752
1,199,961
1,361,082
1,046,816
314,266
75,935
75,870
64,939
10,931
305,178
325,662
338,774
(13,112)
1,153,886
2,358,320
1,193,079
1,165,241
1,719,005
1,180,946
1,206,402
(25,456)
838,215
1,115,304
1,112,220
3,084
393,276
715,026
814,756
(99,730)
3,383,471
3,284,203
2,723,288
560,915
10,852,369
10,940,369
9,493,043
1,447,326
4,360,821
4,570,314
3,568,310
1,002,004
2,742,333
2,765,908
1,574,865
1,191,043
392,800
1,593,125
906,083
687,042
27,417,250
30,286,129
24,042,575
6,243,554
(433,598)
(3,207,373)
4,362,933
7,570,306
-
1,603,712
849,318
(754,394)
-
(1,423,120)
(7,793,871)
(6,370,751)
180,592 (6,944,553) (7,125,145)
(433,598) (3,026,781) (2,581,620) 445,161
54,953,496 54,953,496 54,953,496
Fund Balances, End of Year
$ 54,519,898 $ 51,926,715 $ 52,371,876 $ 445,161
53 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Measure I Special Revenue Fund
Year Ended June 30, 2021
Variance with
Final Budget
Budgeted
Amounts
Actual
Positive
Original
Final
Amounts
(Negative)
REVENUES
Intergovernmental
$ 800,300
$ 800,300
$ 8,545,641
$ 7,745,341
Investment Income
100
100
8,229
8,129
Total Revenues
800,400
800,400
8,553,870
7,753,470
EXPENDITURES
Current:
Public Works
-
-
-
-
Capital Outlay
-
-
-
-
Total Expenditures
-
-
-
-
Excess (Deficiency) of Revenues
over Expenditures
800,400
800,400
8,553,870
7,753,470
OTHER FINANCING SOURCES (USES)
Transfers In
-
-
17,970
17,970
Transfers Out
(800,300)
(800,300)
(1,073,571)
(273,271)
Total Other Financing Sources (Uses)
(800,300)
(800,300)
(1,055,601)
(255,301)
Net Change in Fund Balances
100
100
7,498,269
7,498,169
Fund Balances, Beginning of Year
(4,466,436)
(4,466,436)
(4,466,436)
-
Fund Balances, End of Year
$ (4,466,336)
$ (4,466,336)
$ 3,031,833
$ 7,498,169
54 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Miscellaneous Special Revenue Fund
Year Ended June 30, 2021
REVENUES
Fines & Forfeitures
Charges for Services
Intergovernmental
Investment Income
Other
Total Revenues
EXPENDITURES
Current:
General Government
Community Development
Public Works
Public Safety
Community Services
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Budgeted Amounts
Original Final
Variance with
Final Budget
Actual Positive
Amounts (Negative)
$ 18,000
$ 18,000
$ 6,793
$ (11,207)
69,000
69,000
71,293
2,293
1,784,436
1,784,436
1,517,029
(267,407)
-
-
1,261
1,261
-
-
36,857
36,857
1,871,436
1,871,436
1,633,233
(238,203)
1,394,239
1,394,239
401,807
992,432
-
-
24,270
(24,270)
41,294
41,294
37,115
4,179
225,602
225,602
1,245,007
(1,019,405)
-
-
2,438
(2,438)
442,743
442,743
243,811
198,932
2,103,878
2,103,878
1,954,448
149,430
(232,442)
(232,442)
(321,215)
(88,773)
205,250
205,250
205,250
-
-
-
(9,116)
(9,116)
205,250
205,250
196,134
(9,116)
(27,192)
(27,192)
(125,081)
(97,889)
1,245,728 1,245,728 1,245,728 -
Fund Balance (Deficit), End of Year $ 1,218,536 $ 1,218,536 $ 1,120,647 $ (97,889) 55 City of Yucaipa
Required Supplementary Information
Year Ended June 30, 2021
CHANGES IN TOTAL OPEB LIABILITY AND RELATED RATIOS
Last 10 Years*
Total OPEB Liability
Service cost
Interest on total OPEB liability
Difference between expected and actual experience
Changes in assumptions
Changes in benefits
Benefit payments, including implicit subsidy
Net change in total OPEB liability
Total OPEB liability - beginning
Total OPEB liability - ending
Covered -employee payroll
Total OPEB liability as a percentage of
covered -employee payroll
Measurement Period
2020 2019 2018 2017
$ 142,461 $ 119,792 $ 102,354 $ 99,373
65,155 63,678 50,657 46,820
- (39,127) - -
196,730 189,572 (104,868) -
(41,805) (26,360) (28,231) (19,085)
362,541 307,555 19,912 127,108
1,959,897 1,652,342 1,632,430 1,505,322
$ 2,322,438 $ 1,959,897 $ 1,652,342 $ 1,632,430
$ 5,131,471 $ 4,750,449 $ 3,643,825 $ 3,496,726
45.26% 41.26% 45.35% 46.68%
*Fiscal year 2018 was the first year of implementation; therefore, 10 years of information are not yet available.
Notes to Schedule:
No assets are accumulated in a trust that meets the criteria in GASBS No. 75, paragraph 4, to pay related benefits.
Benefit Changes: None
Changes in Assumptions: In fiscal year 2020, the accounting discount rate change from 3.62% to 3.13% 56 City of Yucaipa
Required Supplementary Information
Year Ended June 30, 2021
Proportionate
Plan Fiduciary
Proportion of
Proportionate
Share of the Net
Net Position as
the Net Pension
Share of Net
Covered
Pension Liability
a % of the Total
Measurement Date
Liability
Pension Liability
Payroll
as a % of Payroll
Pension Liability
2020
0.05085%
$ 5,532,698
$ 4,475,311
123.63%
79.11 %
2019
0.04851 %
4,971,001
4,036,015
123.17%
79.66%
2018
0.04836%
4,660,507
3,643,825
127.90%
79.39%
2017
0.04945%
4,904,437
3,496,726
140.26%
77.14%
2016
0.04759%
4,117, 708
3,362,231
122.47%
78.21 %
2015
0.04376%
3,003,608
3,081,312
97.48%
83.14%
2014
0.04583%
2,851,533
2,970,681
95.99%
75.28%
Notes to the Schedule of the City's Proportionate Share of the Net Pension Liability Benefit Changes: None
Changes in Assumptions: In 2017, the accounting discount rate changed from 7.65% to 7.15%. "Fiscal year 2015 was the first year of implementation, therefore, 10 years of information are not yet available. 57 City of Yucaipa
Required Supplementary Information
Year Ended June 30, 2021
Contributions in
Relation to the
Contributions
Contractually
Actuarially
Contribution
as a % of
Required
Determined
Deficiency/
Covered
Covered
Fiscal Year
Contributions
Contributions
(Excess)
Payroll
Payroll
2021
$ 750,096
$ (1,000,022)
$ (249,926)
$ 4,304,091
23.23%
2020
687,263
(687,263)
-
4,475,311
15.36%
2019
614,613
(826,891)
(212,278)
4,036,015
20.49%
2018
502,982
(646, 954)
(143, 972)
3,643,825
17.75%
2017
451,203
(451,203)
-
3,496,726
12.90%
2016
416,057
(416,057)
-
3,362,231
12.37%
2015
553,517
(553,517)
-
3,081,312
17.96%
Notes to the Schedule of Plan Contributions
Valuation Date: 6/30/2013, 6/30/2014, 6/30/2015, 6/30/2016, 6/30/2017, 6/30/2018, 6/30/2019 "Fiscal year 2015 was the first year of implementation, therefore, not all 10 years of information are available. 58 City of Yucaipa
Notes to Required Supplementary Information
Year Ended June 30, 2021
1. Budgetary Control and Accounting
The City Council approves each year's budget submitted by the City Manager and Assistant City Manager prior to the beginning of the new fiscal year. Public hearings are conducted prior to its adoption by the Council. All supplemental appropriations, where required during the period, are also approved by the Council. Certain inter - and intra-departmental budget transfers are approved by management. In most cases, expenditures may not exceed appropriations at the departmental level within the general fund and at the fund level for other funds.
At fiscal year-end, all operating budget appropriations lapse.
The Fire Special Revenue fund activity and budget was incorporated into the General Fund. Budgets were not adopted for the PEG Video Special Revenue Fund, Pool Capital Replacement Capital Projects Fund, and the 1-10 Specific Plan Capital Projects Fund.
Budgets for governmental funds are adopted on a basis consistent with generally accepted accounting principles (GAAP).
59 SUPPLEMENTARY INFORMATION
City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Developer Fees Public Facilities Capital Projects Fund Year Ended June 30, 2021
Variance with
Final Budget
Budgeted Amounts
Actual
Positive
Original Final
Amounts
(Negative)
REVENUES
Charges for Services
$ - $ 42,343
$ 86,623
$ 44,280
Intergovernmental
- -
-
-
Investment Income
- -
1,098
1,098
Other
- -
1,009,105
1,009,105
Total Revenues
- 42,343
1,096,826
1,054,483
EXPENDITURES
Current:
Public Works
- -
18,158
(18,158)
Capital Outlay
- 1,031,550
759,092
272,458
Total Expenditures
- 1,031,550
777,250
254,300
Excess (Deficiency) of Revenues
over Expenditures
- (989,207)
319,576
1,308,783
OTHER FINANCING SOURCES (USES)
Transfers In
- -
-
-
Transfers Out
- (84,500)
(52,962)
31,538
Total Other Financing Sources (Uses)
- (84,500)
(52,962)
31,538
Net Change in Fund Balance
- (1,073,707)
266,614
1,340,321
Fund Balance (Deficit), Beginning of Year
(12,215,981) (12,215,981)
(12,215,981)
-
Fund Balance (Deficit), End of Year
$ (12,215,981) $ (13,289,688)
$ (11,949,367)
$ 1,340,321
City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - Developer Impact Fees Parks Capital Projects Fund Year Ended June 30, 2021
Budgeted Amounts
Original Final
REVENUES
Charges For Services $ - $ 86,203
Intergovernmental - -
Investment Income - -
Other - -
Total Revenues
EXPENDITURES
Current:
Public Works
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances (Deficit), Beginning of Year
Fund Balances (Deficit), End of Year
86,203
Variance with
Final Budget
Actual Positive
Amounts (Negative)
$ 96,321
$ 10,118
90,111
90,111
2,754
2,754
3,000
3,000
192,186
105,983
- - 18,631
(18,631)
- 1,106,098 627,343
478,755
- 1,106,098 645,974
460,124
- (1,019,895) (453,788) 566,107
65,085 65,085
(77,000) (74,778) 2,222
(77,000) (9,693) 67,307
(1,096,895) (463,481) 633,414
(4,444,797) (4,444,797) (4,444,797) -
$ (4,444,797) $ (5,541,692) $ (4,908,278) $ 633,414
61 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Developer Fees Drainage Capital Projects Fund Year Ended June 30, 2021
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Charges for Services
$ - $ 92,404
$ 592,098
$ 499,694
Intergovernmental
- 1,843,850
356,791
(1,487,059)
Other
- -
3,777,783
3,777,783
Total Revenues
- 1,936,254
4,726,672
2,790,418
EXPENDITURES
Current:
Public Works
- -
93,592
(93,592)
Capital Outlay
- 21,108,632
4,627,597
16,481,035
Total Expenditures
- 21,108,632
4,721,189
16,387,443
Excess (Deficiency) of Revenues
over Expenditures
- (19,172,378)
5,483
19,177,861
OTHER FINANCING SOURCES (USES)
Transfers In
- 185,000
3,701
(181,299)
Transfers Out
- (185,376)
(59,060)
126,316
Total Other Financing Sources (Uses)
- (376)
(55,359)
(54,983)
Net Change in Fund Balance
- (19,172,754)
(49,876)
19,122,878
Fund Balance (Deficit), Beginning of Year
(3,499,773) (3,499,773)
(3,499,773)
-
Fund Balance (Deficit), End of Year
$ (3,499,773) $ (22,672,527)
$ (3,549,649)
$ 19,122,878
62 NON -MAJOR GOVERNMENTAL FUNDS
City of Yucaipa
Combining Balance Sheet
Non -Major Governmental Funds
June 30, 2021
ASSETS
Cash and Investments
Restricted Cash and Investments
Receivables:
Interest
Due From Other Governments
Due From Other Funds
Accounts
Notes and Loans Receivable
Advances to Other Funds
Land Held for Resale
Total Assets
LIABILITIES
Accounts Payable & Accrued Liabilities
Deposits Payable
Due to Other Funds
Advances From Other Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable Revenues
Total Deferred Inflows of Resources
FUND BALANCES
Restricted
Assigned
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources and Fund Balances
Energy
State Independence State
Gas Tax Program COPs Grant
$ 75,168 $ 203,256 $ 710,983
402 67 187
188,209 - 61,300
365,546 -
$ 263,779 $ 568,869 $ 772,470
$ 112,655 $ - $ -
112,655 -
61,300
61,300
151,124 568,869 711,170
151,124 568,869 711,170
$ 263,779 $ 568,869 $ 772,470
63 Special Revenue
Capital Projects
Office of
Miscellaneous
Traffic and
Housing
Capital
CDBG
Safety
LLMD
Authority
Paramedic
PEG Video
Projects
Capital
$ 131,274
$ 2,599,701
$ -
$ 303,342
$ 738,313
$ 365,267
$ 59,876
-
-
-
-
-
1,000
-
12 714
-
4 192
100
13 -
113,938
-
11,720
22,753
-
14,454
-
-
2,865
-
-
-
-
$ 315,066
$ 2,714,353
$ 2,865
$ 131,286
$ 761,258
$ 366,367
$ 74,343
$ -
$ 42,538
$ -
$ 315,066
$ -
$ 15,690
$ 15,402
-
-
-
-
-
900
-
-
-
11,556
-
-
761,000
-
-
42,538
11,556
315,066
-
777,590
15,402
-
-
-
-
-
-
11,362
-
-
-
-
-
-
11,362
131,286 2,671,815
- - (8,691)
131,286 2,671,815 (8,691)
761,258 - 47,579
- (411,223)
761,258 (411,223) 47,579
$ 131,286 $ 2,714,353 $ 2,865 $ 315,066 $ 761,258 $ 366,367 $ 74,343 Continued
64 City of Yucaipa
Combining Balance Sheet
Non -Major Governmental Funds (Continued)
June 30, 2021
Capital Projects
Air
Pool
Quality
Capital
Street
TDA
Improvement
Replacement
Maintenance
Article 3
ASSETS
Cash and Investments
$
-
$
8,397
$
12,464
$ -
Restricted Cash and Investments
-
-
-
-
Receivables:
Interest
26 2
-
-
Due From Other Governments
281,930
-
-
-
Due From Other Funds
-
-
-
-
Accounts
-
-
-
-
Notes and Loans Receivable
-
-
-
-
Advances to Other Funds
-
-
-
-
Land Held for Resale
-
-
-
-
Total Assets
$
281,956
$
8,399
$
12,464
$ -
LIABILITIES
Accounts Payable
$
184,089
$
-
$
12,464
$ -
Deposits Payable
-
-
-
-
Due to Other Funds
91,390
-
-
-
Advances From Other Funds
-
-
-
-
Total Liabilities
275,479
-
12,464
-
DEFERRED INFLOWS OF RESOURCES
Unavailable Revenues - Land Sale
262,346
-
-
-
Total Deferred Inflows of Resources
262,346
-
-
-
FUND BALANCES
Restricted
-
8,399
-
-
Assigned
-
-
-
-
Unassigned
(255,869)
-
-
Total Fund Balances
(255,869)
8,399
-
-
Total Liabilities, Deferred Inflows of
Resources and Fund Balances
$
281,956
$
8,399
$
12,464
$ -
65 Capital Projects
Developer Total Nonmajor
1-10 Trafic Impact Fees Facilities Low Water Governmental Specific Plan Facilities Fire Construction Crossings Funds $ 21,448 $ 863,654 $ 86,017 $ 4,691,667 $ - $ 10,870,827 - - - - - 1,000
6 1,400 61 - - 3,186
- 173,917 - - - 868,221
- - 761,000 - 761,000
- 63,914 66,779
- 365,546
$ 21,454 $ 1,038,971 $ 86,078 $ 5,452,667 $ 63,914 $ 12,936,559 $ - $ 352,250 $ - $ 3,402 $ 341 $ 1,053,897
- - - - 900
- - - - 863,946
1,241,378 2,291,378 - 2,038,189 5,570,945
1,593,628 2,291,378 3,402 2,038,530 7,489,688
- - - - 335,008
335,008
21,454 - - - - 5,072,954
- - - 5,449,265 - 5,449,265
- (554,657) (2,205,300) (1,974,616) (5,410,356)
21,454 (554,657) (2,205,300) 5,449,265 (1,974,616) 5,111,863 $ 21,454 $ 1,038,971 $ 86,078 $ 5,452,667 $ 63,914 $ 12,936,559
City of Yucaipa
Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Non -Major Governmental Funds
Year Ended June 30, 2021
Energy
State Independence State
Gas Tax Program COPs Grant
REVENUES
Taxes:
Property Taxes $ - $ - $ -
Franchise Taxes - - -
Fines & Forfeitures - - -
Charges for Services - - -
Intergovernmental 2,258,425 - 156,893
Investment Income 3,305 231,361 2,680
Other 6,835 - -
Total Revenues
2,268,565
231,361
159,573
EXPENDITURES
Current:
General Government
-
-
-
Community Development
-
-
-
Public Works
919,437
-
-
Public Safety
-
-
6,791
Fire Protection Services
-
-
-
Paramedic Services
-
-
-
Community Services
-
-
-
Capital Outlay
26,014
-
-
Total Expenditures
945,451
-
6,791
Excess (Deficiency) of Revenues
over Expenditures
1,323,114
231,361
152,782
OTHER FINANCING SOURCES (USES)
Transfers In
-
-
-
Transfers Out
(1,283,739)
(65,000)
-
Total Other Financing Sources (Uses)
(1,283,739)
(65,000)
-
Net Change in Fund Balances
39,375
166,361
152,782
Fund Balances (Deficit), Beginning of Year
111,749
36,962
558,388
Prior Period Adjustment
-
365,546
-
Fund Balances (Deficit), End of Year
$ 151,124
$ 568,869 $
711,170
67 Special Revenue Capital Projects
Office of Miscellaneous
Traffic and Housing Capital CDBG
Safety LLMD Authority Paramedic PEG Video Projects Capital $ - $ - $ - $ 1,096,845 $ - $ - $ -
- 92,536 - -
740,714 - - - 36,204 -
- - - - - 45,720
548 10,509 - 475 2,822 5,808 1,101
548 751,223 - 1,097,320 95,358 42,012 46,821
9,128 - 263 59,068 -
- - - - - 55,752
421,690 - - - - 82,688
- - - - 13,186 -
1,549,946 - - -
- - - 48,943
169,635
421,690 9,128 1,549,946 263 72,254 357,018
548 329,533 (9,128) (452,626) 95,095 (30,242) (310,197) 501,736 - - 15,882
(91,823) - (49,110) (85) - (11,362)
- (91,823) - 452,626 (85) - 4,520
548 237,710 (9,128) - 95,010 (30,242) (305,677)
130,738 2,434,105 437 - 666,248 (380,981) 353,256
$ 131,286 $ 2,671,815 $ (8,691) $ - $ 761,258 $ (411,223) $ 47,579 Continued
City of Yucaipa
Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Non -Major Governmental Funds (Continued) Year Ended June 30, 2021
Capital Projects
Air
Pool
Quality
Capital
Street
TDA
Improvement
Replacement
Maintenance
Article 3
REVENUES
Taxes:
Property Taxes
$ -
$ -
$ -
$ -
Franchise Taxes
-
-
-
-
Fines & Forfeitures
-
-
-
-
Charges for Services
-
-
-
-
Intergovernmental
74,920
-
-
150,060
Investment Income
677
35 -
-
Other
-
-
-
-
Total Revenues
75,597
35 -
150,060
EXPENDITURES
Current:
General Government
-
-
-
-
Community Development
-
-
-
-
Public Works
12,768
-
28,046
-
Public Safety
-
-
-
-
Fire Protection Services
-
-
-
-
Paramedic Services
-
-
-
-
Community Services
-
-
-
-
CapitalOutlay
429,870
-
177,496
-
Total Expenditures
442,638
-
205,542
-
Excess (Deficiency) of Revenues
over Expenditures
(367,041)
35 (205,542)
150,060
OTHER FINANCING SOURCES (USES)
Transfers In
-
-
1,487,882
-
Transfers Out
(4,664)
-
(36,317)
-
Total Other Financing Sources (Uses)
(4,664)
-
1,451,565
-
Net Change in Fund Balances
(371,705)
35 1,246,023
150,060
Fund Balances (Deficit), Beginning of Year
115,836
8,364
(1,246,023)
(150,060)
Prior Period Adjustment
-
-
-
-
Fund Balances (Deficit), End of Year
$ (255,869)
$ 8,399
$ -
$ -
.•
Capital Projects
Developer Total Nonmajor
1-10 Trafic Impact Fees Facilities Low Water Governmental Specific Plan Facilities Fire Construction Crossings Funds 1,202,857 53,938 -
- 179,853 - -
95 11,364 845 -
95 1,394,074 54,783
$ 1,096,845
92,536
- 2,033,713
436,789 3,302,660
- 271,625
6,835
436,789 6,804,214
68,459
55,752
369 82,161 - 16,627 45,135 1,608,921
- - - - - 19,977
- - - - - 1,549,946
- - - - - 48,943
- 1,904,266 - 32,293 29,802 2,769,376
369
1,986,427
-
48,920
74,937
6,121,374
(274)
(592,353)
54,783
(48,920)
361,852
682,840
-
1,401,881
-
6,115,000
-
9,522,381
(1,097)
(123,336)
(135,231)
(4,757)
(3,826)
(1,810,347)
(1,097)
1,278,545
(135,231)
6,110,243
(3,826)
7,712,034
(1,371)
686,192
(80,448)
6,061,323
358,026
8,394,874
22,825
(1,240,849)
(2,124,852)
(612,058)
(2,332,642)
(3,648,557)
-
-
-
-
-
365,546
$ 21,454
$ (554,657)
$ (2,205,300)
$ 5,449,265
$ (1,974,616)
$ 5,111,863
70 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - State Gas Tax Special Revenue Fund
Year Ended June 30, 2021
REVENUES
Intergovernmental
Investment Income
Other
Total Revenues
EXPENDITURES
Current:
Public Works
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Final
Budgeted Actual
Amounts Amounts
Variance with
Final Budget
Positive
(Negative)
$ 1,355,990 $ 2,258,425 $ 902,435
1,600 3,305 1,705
10,000 6,835 (3,165)
1,367,590 2,268,565 900,975
1,217,654 919,437 298,217
- 26,014 (26,014)
1,217,654 945,451 272,203
149,936 1,323,114 1,173,178
75,619 - (75,619)
- (1,283,739) (1,283,739)
75,619 (1,283,739) (1,359,358)
225,555 39,375 (186,180)
111,749 111,749 -
$ 337,304 $ 151,124 $ (186,180)
71 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Energy Independence Program Special Revenue Fund Year Ended June 30, 2021
REVENUES
Intergovernmental
Investment Income
Total Revenues
EXPENDITURES
Current:
General Government
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES):
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Variance with
Final Final Budget
Budgeted Actual Positive
Amounts Amounts (Negative)
65,000 231,361 166,361
65,000 231,361 166,361
65,000 231,361 166,361
(65,000) (65,000) -
(65,000) (65,000) -
166,361 166,361
402,508 402,508 -
$ 402,508 $ 568,869 $ 166,361
72 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - State COPs Grant Special Revenue Fund Year Ended June 30, 2021
REVENUES
Intergovernmental
Investment Income
Total Revenues
EXPENDITURES
Current:
Public Safety
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES):
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Variance with
Final Final Budget
Budgeted Actual Positive
Amounts Amounts (Negative)
$ 175,000 $ 156,893 $ (18,107)
- 2,680 2,680
175,000 159,573 (15,427)
175,000 6,791 168,209
175,000 6,791 168,209
152,782 152,782
- 152,782 152,782
558,388 558,388 -
$ 558,388 $ 711,170 $ 152,782
73 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Office of Traffic and Safety Special Revenue Fund Year Ended June 30, 2021
REVENUES
Charges for Services
Intergovernmental
Investment Income
Total Revenues
EXPENDITURES
Current:
Public Safety
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES):
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Variance with
Final Final Budget
Budgeted Actual Positive
Amounts Amounts (Negative)
548 548
548 548
- 54b 54b
130,738 130,738 -
$ 130,738 $ 131,286 $ 548
74 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - LLMD Special Revenue Fund
Year Ended June 30, 2021
REVENUES
Charges for Services
Intergovernmental
Total Revenues
EXPENDITURES
Current:
Public Works
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Variance with
Final Final Budget
Budgeted Actual Positive
Amounts Amounts (Negative)
$ 865,861 $ 740,714 $ (125,147)
- 10,509 10,509
865,861 751,223 (114,638)
779,273 421,690 357,583
779,273 421,690 357,583
86,588 329,533 242,945
(86,588) (91,823) (5,235)
(86,588) (91,823) (5,235)
237,710 237,710
2,434,105 2,434,105 -
$ 2,434,105 $ 2,671,815 $ 237,710
75 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Housing Authority Special Revenue Fund Year Ended June 30, 2021
REVENUES
Property Taxes
Investment Income
Other
Total Revenues
EXPENDITURES
Current:
Community Development
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Variance with
Final Final Budget
Budgeted Actual Positive
Amounts Amounts (Negative)
43,235
9,128
34,107
43,235
9,128
34,107
(43,235)
(9,128)
34,107
(43,235) (9,128) 34,107
$ (42,798) $ (8,691) $ 34,107
76 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Paramedic Special Revenue Fund
Year Ended June 30, 2021
REVENUES
Property Taxes
Investment Income
Total Revenues
EXPENDITURES
Current:
Paramedic Services
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year
Variance with
Final Final Budget
Budgeted Actual Positive
Amounts Amounts (Negative)
$ 1,636,715 $ 1,096,845 $ (539,870)
1,636,715 1,097,320 (539,395)
1,636,715 1,549,946 86,769
1,636,715 1,549,946 86,769
(452,626) (452,626)
- 501,736
501,736
(49,110)
(49,110)
- 452,626
452,626
77 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Miscellaneous Capital Projects Fund Year Ended June 30, 2021
REVENUES
Intergovernmental
Investment Income
Charges for Services
Other
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Variance with
Final Final Budget
Budgeted Actual Positive
Amounts Amounts (Negative)
$ 45,000 $ - $ (45,000)
- 5,808 5,808
38,000 36,204 (1,796)
83,000 42,012 (40,988)
66,000
59,068
6,932
45,000
13,186
31,814
111,000
72,254
38,746
(28,000) (30,242) (2,242)
(28,000) (30,242) (2,242)
(380,981) (380,981) -
$ (408,981) $ (411,223) $ (2,242)
78 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - CDBG Capital Projects Fund
Year Ended June 30, 2021
REVENUES
Intergovernmental
Investment Income
Total Revenues
EXPENDITURES
Current:
Community Development
Public Works
Community Services
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Final
Budgeted Actual
Amounts Amounts
Variance with
Final Budget
Positive
(Negative)
$ 495,528 $ 45,720 $ (449,808)
- 1,101 1,101
495,528 46,821 (448,707)
202,897
55,752
147,145
-
82,688
(82,688)
43,896
48,943
(5,047)
1,165,372
169,635
995,737
1,412,165
357,018
1,055,147
(916,637) (310,197) 606,440
15,882
15,882
- (11,362)
(11,362)
- 4,520
4,520
(916,637) (305,677)
610,960
353,256 353,256 -
$ (563,381) $ 47,579 $ 610,960
79 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Air Quality Improvement Capital Projects Fund Year Ended June 30, 2021
REVENUES
Intergovernmental
Investment Income
Total Revenues
EXPENDITURES
Current:
Public Works
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Final
Budgeted Actual
Amounts Amounts
Variance with
Final Budget
Positive
(Negative)
$ 60,000 $ 74,920 $ 14,920
- 677 677
60,000 75,597 15,597
- 12,768
(12,768)
1,993,850 429,870
1,563,980
1,993,850 442,638
1,551,212
(1,933,850) (367,041) 1,566,809
150,060
- (150,060)
(71,140)
(4,664) 66,476
78,920
(4,664) (83,584)
(1,854,930)
(371,705) 1,483,225
115,836 115,836 -
$ (1,739,094) $ 225,869) $ 1,483,225
:e
City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Street Maintenance Capital Projects Fund Year Ended June 30, 2021
REVENUES
Intergovernmental
Investment Income
Total Revenues
EXPENDITURES
Current:
Public Works
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Final
Budgeted
Amounts
Variance with
Final Budget
Actual Positive
Amounts (Negative)
- 28,046
(28,046)
3,497,056 177,496
3,319,560
3,497,056 205,542
3,291,514
(3,497,056) (205,542) 3,291,514
100,000
1,487,882
1,387,882
-
(36,317)
(36,317)
100,000
1,451,565
1,351,565
(3,397,056)
1,246,023
4,643,079
(1,246,023)
(1,246,023)
--
$ (4,643,079)
$ -
$ 4,643,079
81 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - TDA Article 3 Capital Projects Fund Year Ended June 30, 2021
REVENUES
Intergovernmental
Investment Income
Total Revenues
EXPENDITURES
Current:
Public Works
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Variance with
Final
Final Budget
Budgeted
Actual
Positive
Amounts
Amounts
(Negative)
$ -
$ 150,060
$ 150,060
-
150,060
150,060
-
150,060
150,060
(150,060)
-
150,060
(150,060)
-
150,060
(150,060)
150,060
300,120
(150,060)
(150,060)
--
$ (300,120)
$ -
$ 300,120
82 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual -Traffic Facilities Fund
Year Ended June 30, 2021
REVENUES
Charges for Services
Intergovernmental
Investment Income
Total Revenues
EXPENDITURES
Current:
Public Works
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
Variance with
Final
Final Budget
Budgeted
Actual
Positive
Amounts
Amounts
(Negative)
$ 608,499
$ 1,202,857
$ 594,358
-
179,853
179,853
-
11,364
11,364
608,499
1,394,074
785,575
-
82,161
(82,161)
15,469,654
1,904,266
13,565,388
15,469,654
1,986,427
13,483,227
(14,861,155)
(592,353)
14,268,802
-
1,401,881
1,401,881
(241,311)
(123,336)
117,975
(241,311)
1,278,545
1,519,856
(15,102,466)
686,192
15,788,658
(1,240,849) (1,240,849) -
$ (16,343,315) $ (554,657) $ 15,788,658
83 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Developer Impact Fees Fire Capital Projects Fund Year Ended June 30, 2021
REVENUES
Charges for Services
Investment Income
Total Revenues
EXPENDITURES
Current:
Public Works
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
Variance with
Final Final Budget
Budgeted Actual Positive
Amounts Amounts (Negative)
$ 23,997 $ 53,938 $ 29,941
23,997 54,783 30,786
23,997
54,783
30,786
(80,051)
(135,231)
(55,180)
(80,051)
(135,231)
(55,180)
(56,054)
(80,448)
(24,394)
(2,124,852) (2,124,852) -
$ (2,180,906) $ (2,205,300) $ (24,394)
84 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Facilities Construction Fund
Year Ended June 30, 2021
REVENUES
Intergovernmental
Total Revenues
EXPENDITURES
Current:
Public Works
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
Final
Budgeted
Amounts
Variance with
Final Budget
Actual Positive
Amounts (Negative)
-
16,627
(16,627)
1,576,873
32,293
1,544,580
1,576,873
48,920
1,527,953
(1,576,873)
(48,920)
1,527,953
-
6,115,000
6,115,000
-
(4,757)
(4,757)
-
6,110,243
6,110,243
(1,576,873)
6,061,323
7,638,196
(612,058) (612,058) -
$ (2,188,931) $ 5,449,265 $ 7,638,196
85 City of Yucaipa
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Low Water Crossings Capital Projects Fund Year Ended June 30, 2021
Variance with
Final Final Budget
Budgeted Actual Positive
Amounts Amounts (Negative)
REVENUES
Charges for Services $ - $ - $ -
Intergovernmental 664,000 436,789 (227,211)
Investment Income - - -
Other - - -
Total Revenues
EXPENDITURES
Current:
Public Works
Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues
over Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balance (Deficit), Beginning of Year
Fund Balance (Deficit), End of Year
664,000 436,789 (227,211)
45,135 (45,135)
1,789,963 74,937 1,715,026
(1,125,963) 361,852 1,487,815
- (3,826)
(3,826)
- (3,826)
(3,826)
(1,125,963) 358,026
1,483,989
(2,332,642) (2,332,642)
-
(3,458,605) $ (1,974,616)
$ 1,483,989
M.
CUSTODIAL FUNDS
City of Yucaipa
Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2021
ASSETS
Cash and Investments
Cash and Investments with Fiscal Agents
Accounts Receivable
Interest Receivable
Total Assets
LIABILITIES
Accounts Payable
Total Liabilities
Police CFD 98-1
Department Cramer Debt
$ 55,215 $ 53,284 $ 2,713,689 $ 2,822,188
- - 2,371,370 2,371,370
- - 15,734 15,734
37 14 1,353 1,404
55,252 53,298 5,102,146 5,210,696
- - 584 584
- 584 584
NET POSITION
Restricted for Organizations and Individuals $ 55,252 $ 53,298 $ 5,101,562 $ 5,210,112 87 City of Yucaipa
Combining Statement of Changes in Fiduciary Net Position Custodial Funds
June 30, 2021
Police
CFD 98-1
Department
Cramer
Debt
Donation
House
Reserves
Totals
ADDITIONS
Taxes and Assessments Collected for Others
$ -
$ -
$ 2,199,156
$ 2,199,156
Investment Income
230
222
18,435
18,887
Total Additions
230
222
2,217,591
2,218,043
DEDUCTIONS
General and Administrative
- - 85,659
85,659
Payments to Bondholders
- - 2,150,262
2,150,262
Total Deductions
- - 2,235,921
2,235,921
Net Change in Fiduciary Net Position
230 222 (18,330)
(17,878)
Net Position, Beginning of Year (Restated)
55,022 53,076 5,119,892
5,227,990
Net Position, End of Year
$ 55,252 $ 53,298 $ 5,101,562
$ 5,210,112
::
STATISTICAL SECTION
STATISTICAL SECTION
This part of the City of Yucaipa's Annual Comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the government's overall financial health.
CONTENTS
PAGE
Financial Trends 90
These schedules contain trend information to help the reader understand how the government's financial performance and well-being have changed over time.
Revenue Capacity 98
These schedules contain information to help the reader assess the government's most significant local revenue source, the property tax.
Debt Capacity 104
These schedules present information to help the reader assess the affordability of the government's current levels of outstanding debt and the government's ability to issue additional debt in the future.
Demographic and Economic Information 109
These schedules offer demographic and economic indicators to help the reader understand the environment within which the government's financial activities take place.
Operating Information 111
These schedules contain service and infrastructure data to help the reader understand how the information in the government's financial report relates to the services the government provides and the activities it performs.
:•
Net Position:
Investment in Capital Assets
Restricted for:
Low and Moderate Housing
Public Safety
Public Works/Transportation
Community Development
Community Service / Public Education
Debt Service
Capital Projects
Other Purpose
Unrestricted
Total Net Position
CITY OF YUCAIPA
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal Year
2021
2020
2019
2018
2017
$ 187,300,451
$ 193,575,047
$ 187,442,518
$ 173,234,642
$ 161,130,470
-
437
21,998
50,095
93,740
842,456
689,126
773,906
1,147,116
1,437,359
172,578
134,574
1,345,343
1,795,685
3,136,626
8,399
8,364
4,306
306
13,106
3,433,073
3,100,353
2,914,000
2,679,478
2,497,976
8,798,378
115,836
2,451,698
2,598,651
3,590,668
-
1,245,728
1,288,717
1,277,363
1,510,011
25,981,533
25,066,595
23,879,234
33,974,660
34,487,009
$ 226,536,868
$ 223,936,060
$ 220,121,720
$ 216,757,996
$ 207,896,965
M
Fiscal Year
2016 2015 2014 2013 2012
$ 155,769,811
$ 150,107,657
$ 151,188,060
$ 152,718,653
$ 153,597,104
1,709,562
1,731,433
1,648,506
1,511, 857
1,626,410
3,001,667
9,715,836
9,602,617
8,763,810
4,630,231
14,494
12,815
12,815
5,546,679
4,270,590
2,550,577
2,308,616
2,196,701
1,978,972
281,933
4,680,900
347,493
323,462
617,337
1,412,695
1,489,306
1,472,937
1,407,186
1,372,341
641,451
38,545,036
38,714,479
42,269,769
41,093,013
47,010,514
$ 207,761,353
$ 204,411,266
$ 208,649,116
$ 213,602,662
$ 213,470,928
91 CITY OF YUCAIPA
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal Year
Expenses:
2021
2020
2019
2018
2017
Governmental activities:
General Government
$ 5,523,173
$ 4,640,613
$ 4,052,236
$ 4,093,998
$ 3,810,457
Community Development
2,662,672
2,267,651
2,374,236
2,256,053
2,278,822
Building and Safety
814,756
609,026
478,236
387,227
443,510
Public Works
13,813,740
10,128,308
8,542,114
8,011,508
5,836,411
Public Safety
11,610,569
11,124,230
10,293,490
9,869,497
9,308,288
Fire Protection Services
3,568,310
4,020,422
3,543,496
3,097,650
2,926,527
Paramedic Services
1,549,946
1,614,130
1,589,010
1,486,067
1,329,323
Community Services
1,846,775
2,720,132
2,474,834
2,012,974
2,549,809
Interest on Long -Tenn Debt
-
-
-
-
-
Total Governmental Activities
41,389,941
37,124,512
33,347,652
31,214,974
28,483,147
Program Revenues:
Governmental activities:
Charges for Services
4,557,440
4,492,201
4,452,055
3,598,357
3,695,175
Operating Grants and Contributions
3,568,495
2,203,890
1,698,865
1,730,819
1,590,665
Capital Grants and Contributions
9,636,799
9,938,960
6,044,151
13,559,464
1,648,680
Net (Expense) Revenue and Change in Net Position
(23,627,207)
(20,489,461)
(21,152,581)
(12,326,334)
(21,548,627)
General Revenues:
Taxes:
Property Taxes
13,283,544
12,598,276
12,136,328
11,616,465
11,072,145
Sales and Use Taxes
4,600,872
3,751,828
4,178,316
3,491,965
3,446,413
Franchise Taxes
1,567,185
1,491,027
1,422,487
1,381,727
1,339,715
Documentary Transfer Tax
311,936
186,819
165,803
196,525
187,977
Other Taxes
22,299
22,379
22,903
22,529
22,666
Vehicle License Fees, Unrestricted
5,689,226
5,448,407
5,183,224
4,961,077
4,706,421
Investment Income
43,503
412,106
646,973
64,534
183,557
Miscellaneous
5,674,866
392,959
760,271
391,399
725,345
Extraordinary Item
Total General Revenue
31,193,431
24,303,801
24,516,305
22,126,221
21,684,239
Change in Net Position
7,566,224
3,814,340
3,363,724
9,799,887
135,612
Net Position- Beginning of the Year 218,970,644 220,121,720 216,757,996 206,958,109 207,761,353 Net Position- End of the Year $ 226,536,868 $ 223,936,060 $ 220,121,720 $ 216,757,996 $ 207,896,965 92 Fiscal Year
2016
2015
2014
2013
2012
$ 3,217,017
$ 3,059,021
$ 2,786,070
$ 3,886,687
$ 3,279,187
5,564,038
5,170,508
6,178,671
6,281,252
6,769,295
535,135
470,200
298,010
262,910
188,449
6,628,742
6,745,133
12,320,777
6,336,623
6,735,182
8,559,107
8,133,233
7,269,032
7,008,652
6,519,554
2,796,287
2,841,475
2,685,834
2,477,517
2,463,995
1,170,740
1,064,232
958,613
960,248
991,761
1,893,305
2,106,093
1,633,333
1,427,406
1,234,728
-
-
-
-
242,212
30,364,371
29,589,895
34,130,340
28,641,295
28,424,363
3,601,914
3,146,047
2,525,564
2,649,133
3,115,795
1,712,301
1,743,410
1,056,654
1,287,363
2,457,849
7,479,465
3,671,538
4,372,675
6,462,954
3,607,604
(17,570,691)
(21,028,900)
(26,175,447)
(18,241,845)
(19,243,115)
10,411,588
10,034,783
9,689,395
9,158,269
10,002,732
3,528,777
3,178,195
2,857,302
2,663,584
2,731,544
1,415,951
1,427,826
1,412,159
1,343,430
1,321,021
165,430
173,871
122,362
115,833
104,569
22,941
18,253
17,656
15,861
12,439
4,459,501
4,267,755
3,963,654
3,895,205
3,883,523
463,238
482,999
315,102
217,721
161,622
453,352
558,284
2,844,271
963,676
547,288
1,987,816
20,920,778
20,141,966
21,221,901
18,373,579
20,752,554
3,350,087
(886,934)
(4,953,546)
131,734
1,509,439
204,411,266
205,298,200
213,602,662
213,470,928
211,961,489
$ 207,761,353
$ 204,411,266
$ 208,649,116
$ 213,602,662
$ 213,470,928
93 CITY OF YUCAIPA
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
Fiscal Year
2021
2020
2019
2018
2017
General Fund:
Nonspendable
$ 24,846,293
$ 26,910,385
$ 22,370,194
$ 20,416,604
$ 20,648,580
Restricted
-
-
125,052
192,397
310,760
Committed
15,853,604
18,324,766
17,908,560
7,463,406
7,035,269
Assigned
2,387,911
3,187,945
4,591,778
4,019,175
3,225,598
Unassigned
9,284,068
6,530,400
4,621,841
5,567,230
5,080,248
Total general fund
52,371,876
54,953,496
49,617,425
37,658,812
36,300,455
All other governmental funds:
Nonspendable
-
-
-
-
-
Restricted
9,225,434
5,684,636
10,027,656
10,547,436
12,901,073
Committed
-
-
-
11,820,420
11,811,080
Assigned
5,449,265
-
-
5,777,260
12,301,900
Unassigned
(25,817,650)
(32,714,452)
(26,585,290)
(27,535,988)
(23,280,361)
Total all other governmental funds
(11,142,951)
(27,029,816)
(16,557,634)
609,128
13,733,692
Total Fund Balances
41,228,925
27,923,680
33,059,791
38,267,940
50,034,147
Beginning in FY 2018/19, the General Fund and the Fire Special Revenue Fund were combined 94 Fiscal Year
2016 2015 2014 2013 2012
$ 13,946,845
$ 11,313,445
$ 11,537,445
$ 11,788,003
$ 12,974,225
1,073,460
985,913
1,710,864
928,749
883,501
6,761,166
5,342,829
5,182,303
5,037,196
5,181,542
12,009,103
10,933,751
9,536,944
8,579,695
8,872,998
11,528,265
15,033,672
14,689,176
13,074,022
17,644,570
45,318,839
43,609,610
42,656,731
39,407,665
45,556,836
2,923,167
2,523,014
2,531,014
2,577,079
-
13,272,331
15,532,774
15,039,236
14,897,917
11,977,969
8,878,997
8,870,725
8,458,732
8,053,276
10,669,486
-
36,079
327,168
358,898
-
(15,873,763)
(13,324,985)
(12,172,510)
(5,109,470)
(9,060,234)
9,200,732
13,637,607
14,183,640
20,777,700
13,587,221
54,519,571
57,247,217
56,840,371
60,185,365
59,144,057
95 Revenues:
Taxes:
Property Taxes
Sales and Use Taxes
Franchise Taxes
Documentary Transfer Tax
Other Taxes
License and Permits
Fines and Forfeitures
Charges for Services
Intergovernmental
Investment Income
Other
Total Revenue
Expenditures:
Current:
General Government
Community Development
Building and Safety
Pubic Works
Public Safety
Fire Protection Services
Paramedic Services
Community Service
Capital Outlay
Debt Service:
Interest and Fiscal Charges
Principal Payments
Bond Issuance Costs
Total Expenditures
Excess (Deficiency) of Revenues
over (under) Expenditures
CITY OF YUCAIPA
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
Fiscal Year
2021 2020 2019 2018 2017
$ 13,283,544
$ 12,598,276
$ 12,136,328
$ 11,616,465
$ 11,072,145
4,600,872
3,751,828
4,178,316
3,491,965
3,446,413
1,567,185
1,491,027
1,422,487
1,381,727
1,339,715
311,936
186,819
165,803
196,525
187,977
22,299
22,379
22,903
22,529
22,666
987,628
736,865
642,926
563,075
669,889
381,295
40,581
44,876
42,799
34,708
4,490,771
3,386,200
4,053,783
3,337,724
3,217,725
19,719,637
13,565,747
17,457,588
9,570,510
8,048,047
365,311
1,056,327
1,418,791
478,954
472,118
5,682,031
425,493
819,162
391,399
563,339
51,412,509
37,261,542
42,362,963
31,093,672
29,074,742
4,320,276
3,453,098
3,710,893
3,405,544
3,082,881
1,192,242
797,221
914,835
796,652
819,421
814,756
609,026
478,236
387,227
443,510
4,499,705
4,880,501
4,288,078
3,984,399
3,632,801
10,758,027
10,338,027
9,540,653
9,127,655
8,658,819
3,568,310
4,020,422
3,543,496
3,097,650
2,926,527
1,549,946
1,614,130
1,589,010
1,486,067
1,329,323
1,626,246
2,499,404
2,288,639
1,830,426
2,364,323
9,933,302
14,185,824
21,217,272
18,848,545
10,191,847
38,262,810
42,397,653
47,571,112
42,964,165
33,449,452
13,149,699
(5,136,111)
(5,208,149)
(11,870,493)
(4,374,710)
Other Financing Sources (Uses)
Transfer In
10,663,705
19,552,583
18,916,990
7,225,957
26,029,696
Transfer Out
(10,873,705)
(19,552,583)
(18,916,990)
(7,121,671)
(26,140,410)
Tax Allocation Bonds Issued
-
-
-
-
Premium on Bonds
-
-
-
-
Total Other Financing Sources
(210,000)
-
104,286
(110,714)
Extraordinary Item
-
-
-
-
Net Change in Fund Balance
12,939,699
(5,136,111)
(5,208,149)
(11,766,207)
(4,485,424)
Fund Balance, Beginning of Year
27,923,680
33,059,791
38,267,940
50,034,147
54,519,571
Fund Balance, End of the Year
$ 41,228,925
$ 27,923,680
$ 33,059,791
$ 38,267,940
$ 50,034,147
0 Fiscal Year
2016 2015 2014 2013 2012
$ 10,411,588
$ 10,034,783
$ 9,689,395
$ 9,158,269
$ 10,002,732
3,528,777
3,178,195
2,857,302
2,663,584
2,731,544
1,415,951
1,427,826
1,412,159
1,343,430
1,321,021
165,430
173,871
122,362
115,833
104,569
22,941
18,253
17,656
15,861
12,439
741,816
644,438
439,867
426,965
385,983
46,210
65,641
87,443
99,282
61,941
4,142,074
3,523,712
1,558,693
2,088,953
2,087,682
11,192,564
8,422,778
9,523,229
10,921,608
9,780,385
899,261
713,548
315,102
220,434
203,225
643,662
692,134
1,456,782
1,559,870
1,016,664
33,210,274
28,895,179
27,479,990
28,614,089
27,708,185
2,761,798
2,574,342
2,560,664
3,209,997
2,788,156
874,127
662,301
680,532
639,820
3,016,056
535,135
470,200
298,010
262,910
188,449
3,960,098
4,217,659
3,672,607
3,628,420
5,115,331
7,980,926
7,570,372
6,974,900
6,710,993
6,339,465
2,796,287
2,841,475
2,685,834
2,477,517
2,463,995
1,170,740
1,064,232
958,613
960,248
991,761
1,707,102
1,908,332
1,396,430
1,190,224
1,076,932
14,053,736
6,964,420
13,423,621
8,292,652
7,514,000
-
-
-
-
211,163
-
-
-
-
200,000
(2,629,675)
621,846
(5,171,221)
1,241,308
(2,197,123)
4,502,284
2,392,627
5,849,550
11,215,090
2,767,624
(4,600,255)
(2,607,627)
(4,023,323)
(11,415,090)
(2,972,624)
(97,971)
(215,000)
1,826,227
(200,000)
(205,000)
-
-
-
(6,218,903)
(2,727,646)
406,846
(3,344,994)
1,041,308
(8,621,026)
57,247,217
56,840,371
60,185,365
59,144,057
67,765,083
$ 54,519,571
$ 57,247,217
$ 56,840,371
$ 60,185,365
$ 59,144,057
97 CITY OF YUCAIPA
Assessed Value and Estimated Actual Value of Taxable Property by Major Type Last Ten Fiscal Years
Category
2021
2020
2019
2018
2017
Residental
4,290,661,031
4,121,577,454
3,922,178,028
3,753,392,419
3,545,207,827
Commercial
384,136,677
359,691,461
343,889,586
318,283,068
307,441,314
Industrial
21,352,036
19,323,164
22,859,396
20,540,942
19,499,887
Irrigated
256,811
251,775
143,693
140,876
138,112
Dry Farm
3,068,142
3,363,591
3,429,995
3,372,477
3,433,192
Recreational
5,660,995
5,247,653
5,188,913
5,127,653
5,069,825
Institutional
16,166,803
12,156,160
8,179,074
9,902,113
10,120,689
Miscellaneous
16,814,925
17,107,033
10,852,354
11,567,874
10,872,131
Vacant Land
120,960,512
111,676,789
108,457,958
113,299,055
112,236,082
Unsecured
74,728,619
74,568,629
69,812,138
66,612,865
67,513,752
Total
4,933,806,551
4,724,963,709
4,494,991,135
4,302,239,342
4,081,532,811
Total direct rate
0.22914
0.22917
0.22919
0.22923
0.22921
Source:
HdL
2016
2015
2014
2013
2012
3,358,340,145
3,197,499,722
2,941,326,218
2,878,776,247
2,846,903,947
282,344,120
279,379,006
278,331,820
276,265,189
273,744,743
28,947,572
27,816,631
25,761,469
23,991,367
20,762,516
136,038
133,374
132,771
130,167
127,614
3,395,439
3,328,926
3,313,882
3,248,902
3,185,198
5,415,474
4,107,321
5,052,198
5,001,371
7,014,523
3,759,117
6,693,945
4,629,021
2,966,082
3,105,703
10,959,685
11,413,452
11,156,895
10,820,367
10,767,981
109,221,283
105,449,947
103,068, 595
109,700,908
112,764,550
64,879,744
65,290,823
64,584,003
67,096,047
67,141,606
3,867,398,617
3,701,113,147
3,437,356,872
3,377,996,647
3,345,518,381
0.22914
0.22912
0.22915
0.27624
0.2748
••
CITY OF YUCAIPA
Direct & Overlapping Property Tax Rates
(Rate Per $100 of Taxable Value)
Agency
2021
2020
2019
2018
2017
Basic Levy
1.00000
1.00000
1.00000
1.00000
1.00000
Redlands Unified School Bond 1993
0.03600
0.03390
0.03240
0.04940
0.05240
San Bernardino Community College Bond
0.06510
0.05620
0.04070
0.03760
0.03500
San Bernardino Valley Muni Water
0.14250
0.14250
0.15250
0.15250
0.16250
Total Direct & Overlapping Tax Rates
1.24360
1.23260
1.22560
1.23950
1.24990
City's Share of 1 % Levy Per Prop 13
0.22228
0.22228
0.22228
0.22228
0.22228
General Obligation Debt Rate
0 0
0 0
0 Redevelopment Rate 1
Total Direct Rate
0.22914
0.22917
0.22919
0.22923
0.22921
' The approval of ABxl 26 eliminated Redevelopment from the State of California for the fiscal year 2012/13 and years thereafter.
Source:
HdL
100
2016
2015
2014
2013
2012
1.00000
1.00000
1.00000
1.00000
1.00000
0.05670
0.05940
0.06290
0.06410
0.05820
0.04030
0.03930
0.04190
0.04590
0.03730
0.16250
0.16250
0.16250
0.16250
0.16500
1.25950
1.26120
1.26730
1.27250
1.26050
0.22228
0.22228
0.22228
0.22228
0.22228
0 0
0 0
0 1.16500
0.22914 0.22912 0.22915 0.27624 0.27480
101
SNR 24 GOLDEN OAKS OWNER LLC
YVCC H LLC
YUCAIPA VALLEY ACRES LLC
CHAPMAN HEIGHTS YUCAIPA
SORENSON ENGINEERING INC
YUCAIPA AVENUE E LLC
JDP CH INVESTMENT LP
SUN LAKEVIEW MOBILE ESTATES LLC
CEDAR AVENUE HOLDINGS LLC
STATER BROS MARKETS
YUCAIPA RETIREMENT RESIDENCE LP
CALANDA REAL LP
PUTNAM FAMILY PARTNERSHIP
TOPAZ-YUCAIPA LLC
MOBILE HOME GROUP III LP
TOP TEN TOTAL
CITY TOTAL
Source:
HdL
CITY OF YUCAIPA
Principal Property Tax Payers
Current Year and Nine Years Ago
2021
2012
Combined (Secured & Unsecured) Combined (Secured & Unsecured) Total Assessed Percent of Net
Value Rank Assessed Value
$ 19,152,689 1 0.39%
18,691,828 2 0.38%
18,396,132 3 0.37%
15,000,978 4 0.30%
14,831,593 5 0.30%
13,051,156 6 0.26%
12,611,200 7 0.26%
12,611,022 8 0.26%
12,379,550 9 0.25%
12,056,444 10
148,782,592
4,933,806,551
Total Assessed Percent of Net
Value Rank Assessed Value
21,072,260
1 0.63%
10,643,482
6 0.32%
12,805,207
4 0.38%
7,716,788
9 0.23%
0.24% 13,317,154
16,758,634
10,779,483
10,187,680
8,003,977
7,339,322
3.02% 118,623,987
3,345,518,381
3 0.40%
2 0.50%
5 0.32%
7 0.30%
8 0.24%
10 0.22%
3.55%
102
Fiscal
Year Ended
30-Jun
2021
2020
2019
2018
2017
CITY OF YUCAIPA
Property Tax Levies and Collections 1
Last Five Fiscal Years
Collected within the
Taxes Levied
Fiscal Year of Levy
Subsequent Years
for the
Percent
Collections
Fiscal Year
Amount of Levy
of Prior Years 2
11,431,712
11,406,447 99.78%
353,249
10,977,686
10,806,198 98.44%
295,981
10,474,628 10,389,693 99.19%
10,063,603 10,008,179 99.45%
9,600,087 9,431,090 98.24%
Total Collections to Date
Percent
Amount of Levy
11,759,696 102.87%
11,102,179 101.13%
336,063 10,725,756 102.40%
291,704 10,299,883 102.35%
353,833 9,784,922 101.93%
NOTE:
1 The amounts presented include City property taxes and Redevelopment Agency increment. This schedule also includes amounts collected by the City and Redevelopment Agency that were passed -through to other agencies.
The State of California dissolved the Redevelopment Agency effective 2012. Collections in subsequent years may include delinquent tax payments from multiple years which are not identified separately by the County of San Bernardino.
Z Subsequent years collections of prior years may include delinquent tax payments from multiple prior years which are not identified separately by the County of San Bernardino. Limitations exist within the County's tax system which impede the ability to identify prior tax year delinquent payments by assessment year.
Source:
San Bernardino County Auditor -Controller's Office
The City of Yucaipa has elected to show only five years of data for this schedule 103
CITY OF YUCAIPA
Ratios of Outstanding Debt by Type
Last Five Fiscal Years
Former RDA Tax
Allocation Bonds
Fiscal Year Ended
Principal
Percentage of
June 30
Outstanding
Personal Income 1
Debt Per Capita 1
2021
-
0.00%
0 2020
-
0.00%
$ -
2019
-
0.00%
$ -
2018
-
0.00%
$ -
2017
-
0.00%
$ -
I These ratios are calculated using personal income and population for the prior calendar year.
NOTE:
Details regarding the City's outstanding debt can be found in the notes to the financial statements.
The City of Yucaipa currently does not have any debt
104
CITY OF YUCAIPA
Ratios of General Bonded Debt Outstanding
Last Five Fiscal Years
Fiscal Year Ended
Former RDA Tax Percentage of Assessed
June 30
Allocation Bonds 1 Value 1
2021
- 0.00%
2020
- 0.00%
2019
- 0.00%
2018
- 0.00%
2017
- 0.00%
Per Capita 1
0 1 Assessed Value has been used because the actual value of taxable property is not readily available in the State of California.
NOTE:
Details regarding the City's outstanding debt can be found in the notes to the financial statements.
The City of Yucaipa currently does not have any debt.
105
CITY OF YUCAIPA
Direct and Overlapping Debt
June 30, 2021
2020-2021 Assessed Valuation: $ 4,933,578,539
OVERLAPPING TAX AND ASSESSMENT DEBT:
San Bernardino Community College District
Redlands Unified School District
City of Yucaipa
City of Yucaipa Community Facilities District No. 98-1
Yucaipa Calimesa Joint Unified School District Community Facilities District No. 2 Yucaipa Calimesa Joint Unified School District Community Facilities District No. 3 California Statewide Community Development Authority Assessment District No. 2 1 -01
TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT
OVERLAPPING GENERAL FUND DEBT:
San Bernardino County General Fund Obligations
San Bernardino County Pension Obligation Bonds
San Bernardino County Flood Control District General Fund Obligations Yucaipa-Calimesa Joint Unified School District Certificates of Participation
TOTAL OVERLAPPING GENERAL FUND DEBT
OVERLAPPING TAX INCREMENT DEBT (Successor Agency):
DIRECT TAX AND ASSESSMENT DEBT:
City of Yucaipa
TOTAL DIRECT DEBT
COMBINED TOTAL DEBT'
Notes:
Percentage
Outstanding Debt
Estimated Share of
Applicable
06/30/21
Overlapping
Debt
6.184%
$
727,578,368
$
44,993,446
0.062%
$
63,768,512
39,536
100.000%
$
-
-
100.000%
$
16,975,000
16,975,000
100.000%
960,000
960,000
100.000%
2,011,469
2,011,469
100.000%
1,118,000
1,118,000
$
812,411,349
$
66,097,451
1.971%
$
214,095,000
$
4,219,812
1.971%
180,825,585
3,564,072
1.971%
51,360,000
1,012,306
83.072%
6,220,000
5,167,078
452, 500,5 85
13,963,268
100.000%
6,755,000
6,755,000
100.000% $ -
The percentage of overlapping debt applicable to the City is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the City divided by the district's total taxable assessed value. 2 Excludes tax and revenue anticipation notes, revenue, mortgage revenue and non -bonded capital lease obligations.
Ratios to 2020-21 Assessed Valuation:
Direct Debt............................................................... 0.00% Total Direct and Overlapping Tax and Assessment Debt.......... 1.34 % Combined Total Debt .................................................... 1.76% Ratios to Redevelopment Successor Agency Incremental Valuation f$271,398,5011:
Total Overlapping Tax Increment Debt ................................ 2.49%
CITY OF YUCAIPA
Legal Debt Margin Information
Last Five Fiscal Years
Fiscal Year
2021 2020 2019 2018 2017
Assessed Valuation
4,933,806,551
4,724,963,709
4,494,991,135
4,302,239,342
4,081,532,811
Conversion percentage
25%
25%
25%
25%
25%
Adjusted assessed valuation
1,233,451,638
1,181,240,927
1,123,747,784
1,075,559,836
1,020,383,203
Debt limit percentage
15%
15%
15%
15%
15%
Debt limit
185,017,746
177,186,139
168,562,168
161,333,975
153,057,480
Total net debt applicable to the limit
General obligation bonds
-
-
-
-
-
Legal debt margin
185,017,746
177,186,139
168,562,168
161,333,975
153,057,480
Total debt applicable to the limit
as a percentage of debt limit
0.00%
0.00%
0.00%
0.00%
0.00%
NOTE:
The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation. However, this provision when assessed valuation was based up 25% of market value. Effective with the 1981-82 fiscal year, each parcel is now assessed at 100% of market value ( as of the most recent change in ownership for that parcel.) The computations shown above reflect a conversion of assessed valuation data for each fiscal year from the current full valuation perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California for local government located within the state.
Sources:
San Bernardino County Tax Assessor
107
CITY OF YUCAIPA
Pledged Revenue Coverage
Last Six Fiscal Years
Tax Allocation Bonds
Fiscal Year
Ended
Former RDA Tax Debt Service
June 30
Increment Principal Interest Coverage
2021
- 195,000
355,602 -
2020
- 190,000
363,828 -
2019
- 180,000
371,675 -
2018
- 175,000
379,137 -
2017
- 165,000
386,243 -
2016
- 160,000
394,394 -
NOTE:
Details regarding the City's outstanding debt can be found in the notes to the financial statements.
Operating expenses do not include interest or depreciation expenses.
On February 1, 2012 the Redevelopment Agency was dissolved. 108
2019
2018
2017
2016
2015
2014
2013
2012
2011
Population
55,634
55,712
54,844
54,651
54,324
53,779
52,598
52,654
52,549
52,100
CITY OF YUCAIPA
Demographic and Economic Statistics
Last Ten Calendar Years
Personal Income
(In Thousands)
$
1,620,848
$
1,542,724
$
1,407,956
$
1,338,730
$
1,347,721
$
1,367,950
$
1,353,662
$
1,365,950
$
1,372,475
$
1,343,555
Per Capita
Personal Income
$
29,134
$
27,691
$
25,672
$
24,495
$
24,808
$
25,436
$
25,736
$
25,942
$
26,118
$
25,788
Unemployment
Rate
Sources:
State Department of Finance, HdL, State of California Employment Development Department https://www.census.gov/quickfacts/fact/table/yucaipacitycalifomia/BZA 115218 https://worldpopulationreview.com/us-cities/yucaipa-ca-population
7.90%
3.20%
3.40%
4.00%
5.80%
6.60%
8.20%
6.60%
7.70%
10.60%
109
CITY OF YUCAIPA
Principal Employers
Current Year and Nine Years Ago
2021* 2012*
Number of
Percent of Total
Number of
Percent of Total
Employer Employees
Employment
Employees
Employment
TOTAL TOP EMPLOYERS - -
TOTAL EMPLOYEES IN CITY - -
NOTE:
*The City of Yucaipa chooses to not present the principal employer data as the information is not readily available. 110
CITY OF YUCAIPA
City Employees
by Function
Last Five Fiscal Years
Employees as of June 30
2021 2020 2019 2018 2017
Full-time employees:
Administrative Services Department:
Administrative Services
3.00 2.00
3.00 3.00
3.00 Finance
5.00 5.00
3.75 3.75
3.75 City Manager Department:
3.55 4.00
3.00 3.00
3.00 Community Services Department:
10.60 10.10
10.20 7.00
7.00 Development Services Department:
Director
1.00 1.00
0.40 0.40
0.40 Administration
2.00 2.31
1.00 1.75
2.24 Engineering
5.50 4.50
6.00 6.00
5.00 Street Maintenance
5.25 5.25
4.50 4.50
4.00 Parks/Facilities Maintenance
8.75 8.75
8.00 8.00
8.00 Planning
3.25 3.50
2.50 2.50
2.50 Code Enforcement
4.25 3.00
4.16 4.16
4.20 Fire Services Department:
0.00 0.00
0.25 0.25
0.00 General Services Department:
6.38 4.40
4.00 4.00
4.00 Successor Agency to RDA
0.27 0.14
0.48 0.52
0.39 Yucaipa Housing Authority
0.20 0.06
0.16 0.18
0.28 Total
59.00 54.00
53.00 49.00
47.75 Sources:
City of Yucaipa
111
CITY OF YUCAIPA
Operating Indicators
by Function
Last Five Fiscal Years
Fiscal Year
Function
2021
2020
2019
2018
2017
Police:
Calls for service
42,814
43,808
44,488
42,964
30,672
Citations issued
1,305
1,252
1,727
1,293
1,380
Fire:
Number of Incidents
8,263
7,636
8,297
7,922
7,696
Inspections performed
-
-
-
105
1,554
Building and Safety:
Building Permits Issued
1,885
1,376
1,448
1,274
1,511
No. of New Dwelling Units
119
17 21
125
76 Parks and recreation:
Community center attendance
7,112
16,897
27,712
21,007
22,475
STARS
1,649
12,269
16,288
15,036
13,347
Camps
433
940
1,388
1,574
-
Aquatics
2,440
1,275
6,950
7,090
6,248
Community Center Classes
715
4,218
5,880
6,508
4,429
Scherer Center Classes
1,153
3,742
5,130
5,267
4,907
Administration
New Business Licenses
428
422
469
459
514
Renewed Business Licenses
1,564
1,547
1,549
1,487
1,591
Sources:
City of Yucaipa
112
CITY OF YUCAIPA
Capital Asset Statistics
by Function
Last Five Fiscal Years
Fiscal Year
Function
2021
2020
2019
2018
2017
Police:
Stations
1 1
1 1
1 Sub -stations
Fire:
Fire Stations
3 3
3 3
3 Public Works
Streets (miles)
227.82
227.82
227.82
227.82
227.82
Traffic signals (city -owned)
32.5 31.5
27.5 27.5
27.5 Roundabouts
4 4
2 2
2 Parks and Recreation:
Parks (acreage)
534
534
534
532
532
Community Centers
2 2
2 2
2 Performing Arts Centers
1 1
1 0
0 Sources:
City of Yucaipa
113