HomeMy WebLinkAbout2024 Financial Statements
City of Atascadero
Financial Statements
June 30, 2024
FINANCIAL STATEMENTS
June 30, 2024
Heather Moreno, MAYOR
Susan Funk, MAYOR PRO TEMPORE
Charles Bourbeau, COUNCIL MEMBER
Mark Dariz, COUNCIL MEMBER
Heather Newsom, COUNCIL MEMBER
Gere W. Sibbach, CITY TREASURER
James R. Lewis, CITY MANAGER
Prepared by the Department of Administrative Services
CITY OF ATASCADERO
TABLE OF CONTENTS
June 30, 2024
Independent Auditors' Report……………………...…………………………………………………………………………………………………………………………………………1
Management's Discussion and Analysis…………………………………………………………………………………………………………………………………………………………………………………3
Basic Financial Statements:
Government-wide Financial Statements:
Statement of Net Position……………………………………………………………………….……………………………………………………………………………………………………………………15
Statement of Activities………………………………………………………………………………………………………………………………………………………….17
Fund Financial Statements:
Governmental Funds:
Balance Sheet……………………………………………………………………………………………………………………………………………………………………18
Reconciliation of the Governmental Funds - Balance Sheet to the Statement of Net Position…………………………………………………………………20
Statement of Revenues, Expenditures, and Changes in Fund Balances……………………………………………………………………………………..22
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances
of Governmental Funds to the Statement of Activities……………………………...……..……………………...……………………………………..24
Proprietary Funds:
Statement of Net Position……………………………….…………………………………………………………………………………………………………………………26
Combining Statement of Revenues, Expenses, and Changes in Net Position……………………………………………………………………………………………………….28
Combining Statement of Cash Flows………………………………………………………………………………………...……………………………………………………………30
Private Purpose Trust Funds:
Statement of Fiduciary Net Position……………………………….…………………………………………………………………………………………………………………………32
Statement of Changes in Fiduciary Net Position………………………………………………………………………………………………………………………………….33
Notes to the Basic Financial Statements……………………………………………………………………………………………………………………………………………34
Required Supplementary Information:
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - General Fund Summary ………………………………………………78
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - General Fund Detail………………………………………………80
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - Local Transportation Fund……………………...............................99
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - Circulation System Fees Fund………………………………………………101
Schedule of Changes in the Total OPEB Liability and Related Ratios…………………………………………………………………………………………………102
Schedule of OPEB Contributions……………………………………………….…………………………………………………………………………………………………103
Schedule of the Local Government's Proportionate Share of the Net Pension Liability ……………………………………………………………………………………………………104
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CITY OF ATASCADERO
TABLE OF CONTENTS
June 30, 2024
Required Supplementary Information (continued):
Schedule of Pension Contributions…………………………………………………………………………………………………………………………………………………………….105
Other Supplementary Information:
Major Debt Service Fund:
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - 2010 Bond Debt Service Fund………………………………………………106
Nonmajor Governmental Funds Overview………………………………………………………………………………………………………………………………………….107
Combining and Individual Fund Statements and Schedules:
Combining Balance Sheet - Nonmajor Governmental Funds………………………………………………………………………………………………………………111
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Governmental Funds…………………………………..………………116
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual:
Supplemental Law Enforcement Services Fund…………………………………………………………………………………………………………………………….121
In Lieu Low/Moderate Income Housing Fund………….......……………………………………………………………………………………………….122
Downtown Business Improvement Area Fund……………………………………………………………………………………………………………………………………….123
Atascadero Tourism Business Improvement District Fund……………………………………………………………………………………………………………………………………….124
Community Development Block Grant Fund………………………………………………………………………………………………………………………………..125
Tree Plant Fund………………………………………………………………………………………………………………………………………………………………126
Gas Tax Fund…………………………………………………………………………………………………………………………………………………………………..127
Street Assessment Fund……………………………………………………………………………………………………………………………………………………..129
General Government Facilities Fees Fund……………………………………………………………………………………………………………………………………..130
Storm Drainage Facilities Fees Fund…………………………………………………………………………………………………………………………………………….131
Law Enforcement Facilities Fees Fund…………………………………………………………………………………………………………………………………….132
Fire Facilities Fees Fund…………………………………………………………………………………………………………………………………………………………..133
Open Space Acquisition Fees Fund……………………………………………………………………………………………………………………………………………….134
Parkland Facilities Fees Fund………………………………………………………………………………………………………………………………………………………135
Public Facilities Fees Fund………………………………………………………………………………………………………………………………………………………136
Library Expansion Facilities Fees Fund………………………………………………………………………………………………………………………………………………137
Fire Aerial Vehicle Impact Fees Fund………………………………………………………………………………………………………………………………………………138
Community Facilities District Fund…………………………...………………..…………………………………………………………………………………………..139
Apple Valley Street & Storm Drain Assessment District Fund………….……………………………………………………………………………………………140
Apple Valley Landscape & Lighting Assessment District Fund…………………..…………………………………………………………………………………………141
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CITY OF ATASCADERO
TABLE OF CONTENTS
June 30, 2024
Other Supplementary Information (continued):
Combining and Individual Fund Statements and Schedules (continued):
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (continued):
Las Lomas Street & Storm Drain Assessment District Fund……………………...………………………………………………………………………………………142
Las Lomas Landscape & Lighting Assessment District Fund…………………………...……………………………………………………………………………………143
De Anza Street & Storm Drain Assessment District Fund…………………………..…………………………………………………………………………………144
De Anza Landscape & Lighting Assessment District Fund…………………………...…………………………………………………………………………………145
Capital Projects Fund……………………………………………………………………………………………………………………………………………………………146
2010 Bond Proceeds Master Agreement Fund……………………………………………………………………………………………………………………………………………………………147
Combining Statement of Net Position - Internal Service Funds……………………………………………………………………………………………………………………148
Combining Statement of Revenues, Expenses, and Changes in Net Position - Internal Service Funds…………………………………………………………………..150
Combining Statement of Cash Flows - Internal Service Funds……………………………………………………………………………………………………………..152
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Moss, Levy & Hartzheim LLP
Certified Public Accountants
2400 Professional Parkway, Suite 205 Santa Maria, CA 93455 Tel 805.925.2579 Fax 805.925.2147 mlhcpas.com
BEVERLY HILLS · CULVER CITY · SANTA MARIA
INDEPENDENT AUDITORS’ REPORT City Council of the City of Atascadero Atascadero, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type activities, the major funds, and the aggregate remaining fund information of the City of Atascadero, as of and for the fiscal year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the City of Atascadero’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the major funds, and the aggregate remaining fund information of the City of Atascadero, as of June 30, 2024, and the respective changes in financial position and, where applicable, cash flows thereof, for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City of Atascadero and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City of Atascadero’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards, we:
· Exercise professional judgment and maintain professional skepticism throughout the audit.
· Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
· Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City of Atascadero’s internal control. Accordingly, no such opinion is expressed.
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· Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
· Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City of Atascadero’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, the budgetary comparison information the General Fund and major special revenue funds, the schedule of changes in the OPEB liability and related ratios, the schedule of OPEB contributions, the schedule of the local government’s proportionate share of net pension liability, and the schedule of pension contributions, 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 inquires of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City of Atascadero’s basic financial statements. The major debt service fund budgetary schedule, combining and individual nonmajor fund financial statements and schedules, and combining internal service funds financial statements, are presented for purposes of additional analysis and are not a required part of the basic financial statements.
The major debt service fund budgetary schedule, combining and individual nonmajor fund financial statements and schedules, and combining internal service funds financial statements, are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the major debt service fund budgetary schedule, combining and individual non-major fund financial statements and schedules, and combining internal service funds financial statements, are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated January 11, 2025, on our consideration of the City of Atascadero’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.
Santa Maria, California January 11, 2025 2
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Working together to serve, build community and enhance quality of life.
Management’s Discussion and Analysis
January 11, 2025
To the Honorable Mayor,
Members of the City Council, and
Residents of the City of Atascadero
It is our pleasure to present to you the annual financial statements of the City of Atascadero, California, for the fiscal year ending on June 30, 2024. The City
prepares a complete set of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) after the end of each fiscal year.
This discussion and analysis of the City of Atascadero’s financial performance provides an overview of the City’s financial activities for the fiscal year ended
June 30, 2024. For the most complete picture of the City, please read this document in conjunction with the City’s basic financial statements and the
accompanying notes to the basic financial statements. The City’s financial statements are available at City Hall offices and at the City’s website at
www.atascadero.org.
Financial Highlights
City total assets and deferred outflows of resources exceeded its liabilities and deferred inflows of resources at the close of June 30, 2024, by about $235.5
million. Of this amount, $180.7 million is net investment in capital assets, $41.6 million is restricted for various purposes, and $13.3 million is unrestricted.
Capital projects expenditures were about $10.2 million more than the amount spent in the prior fiscal year due primarily to timing and status of the two
bridge projects (Via Road and Santa Lucia Road), many different road rehabilitation projects that were ongoing including the Downtown Infrastructure
Enhancement Plan and the Downtown District Pavement Rehabilitation, and the Wastewater Lift Station #13 Forcemain Realignment Project.
As of the close of the current fiscal year, the City’s governmental funds reported combined ending fund balances of $62 million, a decrease of about
$300,000 from the prior fiscal year. Approximately $41.7 million of the total is not available for more general spending because it represents amounts
that are already obligated or restricted. About $20.3 million of the ending fund balance is available for future obligations.
City of Atascadero
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2024
4
Financial Highlights (continued)
• The City’s compensated absences due to employees increased by about $114,200, and the City’s total long-term liabilities increased by about $2.5
million. This increase was primarily due to the City’s change in CalPERS Net Pension Liability. For additional information, see Note 8 in the Notes to
the Financial Statements.
• At the end of the current fiscal year, unassigned fund balance for the general fund was $21,044,476 or 54% of total general fund expenditures,
$3,341,512 of which is related to the Sales Tax Measure F-14 funding.
• On April 18, 2024, the Successor Agency to the Community Redevelopment Agency of Atascadero issued $15.43 million in Series 2024A Tax Allocation
Refunding Bonds and $1.405 million in Series 2024B Taxable Tax Allocation Refunding Bonds to refund the 2004 Tax Allocation Bonds and the 2010
Lease Revenue Bonds. The 2004 and 2010 Series bonds were defeased on July 16, 2024.
Overview of the Financial Statements
The financial statements presented herein include the activities of the City of Atascadero using the integrated approach as prescribed by Governmental
Accounting Standards Board (GASB) Statement No. 34.
Government-Wide Financial Statements
The Government-Wide Financial Statements present a broad overview of the financial picture of the City from the economic resources measurement focus
using the accrual basis of accounting. They present governmental activities and business-type activities separately. These statements include all assets of the
City (including infrastructure) as well as all liabilities (including long-term liabilities). Additionally, certain eliminations have occurred as prescribed by GASB
Statement No. 34 in regard to interfund activity, payables, and receivables.
The Statement of Net Position presents information on all of the City’s assets, deferred outflows, liabilities, and deferred inflows, with the difference reported as
net position. Over time, increases or decreases in net position may serve as an indicator of whether the financial position of the City of Atascadero is improving
or declining.
The Statement of Activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net
position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of the related cash flows. Thus, revenues and
expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.
Both of the Government-wide Financial Statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues
(governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees or are required by grantor
agencies to be accounted for in this fashion (business-type activities).
City of Atascadero
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2024
5
Government-Wide Financial Statements (continued)
The governmental activities include police, fire, parks, recreation, community development, public works, and general government activities. Property and sales
taxes, user fees, interest income, franchise fees, and state and federal grants finance these activities. The business-type activities include wastewater and
transit.
As required by accounting principles generally accepted in the United States of America, these financial statements present the City (the primary government).
The City previously had a component unit (the Community Redevelopment Agency of Atascadero) through January 31, 2012, for which the government was
considered to be financially accountable. Effective February 1, 2012, Assembly Bill AB 1x26, as modified by the California Supreme Court, dissolved
redevelopment agencies in California. All assets and liabilities were required to be transferred to the corresponding Successor Agency identified in each
community. In Atascadero, the City became the Successor Agency and holds these assets and liabilities in Private Purpose Trust. See Note 15 in the Notes
to the Financial Statements for further details on the Successor Agency. The City has no component units that require discrete presentation in accordance with
GASB Statement No. 14, as amended by GASB Statements No. 39, No. 61, No. 80, and No. 90.
Fund Financial Statements
A fund is a group of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City of
Atascadero, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The
funds of the City are divided into three categories of activities – governmental, proprietary, and private purpose trust funds.
Governmental Funds
Governmental funds are used to account for essentially the same functions reported as governmental activities in the Government-wide Financial Statements.
However, unlike the Government-wide Financial Statements, Governmental Fund Financial Statements focus on near-term inflows and outflows of spendable
resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s
near-term financing requirements.
Because the focus of Governmental Fund Financial Statements is narrower than that of the Government-wide Financial Statements, it is useful to compare the
information presented for governmental funds with similar information presented for governmental activities in the Government-wide Financial Statements. By
doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental funds balance sheet
and the governmental funds statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between
governmental funds and governmental activities.
The City maintains multiple individual governmental funds. Information for the General Fund is presented separately in the governmental funds balance sheet
and in the governmental funds statement of revenues, expenditures, and changes in fund balances. The General Fund, the Local Transportation Fund, the
Circulation System Fees Fund, and the 2010 Bond Debt Service Fund are considered to be the major governmental funds. Data from the other nonmajor
governmental funds are combined into a single, aggregated presentation. Individual fund data, including budgetary information, for each of these nonmajor
governmental funds are provided in the combining financial statements under the supplementary information section.
City of Atascadero
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2024
6
Governmental Funds (continued)
A budget comparison statement has been provided to demonstrate compliance with the budget. Budgetary information for the major governmental funds has
been provided under the required supplementary information section.
Proprietary Funds
Proprietary Funds provide the same type of information as the business-type activities in the government-wide financial statements, except that the Proprietary
Funds provide greater detail. The City maintains two types of Proprietary Funds: Enterprise Funds and Internal Service Funds. The City’s Enterprise Funds are
the same as the business-type activities reported in the Government-wide Financial Statements: Transit and Wastewater. The City uses Internal Service Funds
to report activities that provide supplies and services for the City’s other programs and activities. The City’s Internal Services Funds include the Technology
Fund, the Building Maintenance and Replacement Fund, and the Vehicle and Equipment Replacement Fund. The Internal Service Funds are combined into
one column within the Proprietary Funds statements and then are combined with governmental activities in the Government-wide Financial Statements.
Private Purpose Trust Funds
Private Purpose Trust Funds are used to account for monies held on behalf of others in a fiduciary capacity. The City uses private purpose trust funds to
account for the Successor Agency of the Former Redevelopment Agency which was dissolved on January 31, 2012, pursuant to state law. All resources of the
funds are used to support specified activities.
Notes to the Basic Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.
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 Atascadero, assets and
deferred outflows of resources exceeded liabilities and deferred inflows of resources by about $235.5 million at the close of the most recent fiscal year.
City of Atascadero
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2024
7
Government-Wide Financial Analysis (continued)
2023-2024
Governmental
Activities
2023-2024
Business-Type
Activities
2023-2024
Total
2022-2023
Governmental
Activities
2022-2023
Business-Type
Activities
2022-2023
Total
77,241,846$ 12,173,029$ 89,414,875$ 89,961,338$ 10,381,040$ 100,342,378$
160,169,110 20,649,800 180,818,910 147,498,128 18,644,980 166,143,108
Total assets 237,410,956 32,822,829 270,233,785 237,459,466 29,026,020 266,485,486
15,193,371 335,927 15,529,298 15,049,612 339,962 15,389,574
Total deferred outflows 15,193,371 335,927 15,529,298 15,049,612 339,962 15,389,574
7,360,624 1,645,723 9,006,347 9,022,500 535,109 9,557,609
39,271,072 945,106 40,216,178 50,452,558 887,230 51,339,788
Total liabilities 46,631,696 2,590,829 49,222,525 59,475,058 1,422,339 60,897,397
853,672 151,440 1,005,112 1,645,545 167,487 1,813,032
Total deferred inflows 853,672 151,440 1,005,112 1,645,545 167,487 1,813,032
160,049,256 20,649,800 180,699,056 133,673,128 18,644,980 152,318,108
41,550,213 - 41,550,213 41,777,068 - 41,777,068
3,519,490 9,766,687 13,286,177 15,938,279 9,131,176 25,069,455
Total net position 205,118,959$ 30,416,487$ 235,535,446$ 191,388,475$ 27,776,156$ 219,164,631$
Current and other assets
Capital assets
Current liabilities
Noncurrent liabilities
Deferred outflows
Net position:
Net investment in
capital assets
Restricted
Unrestricted
Deferred inflows
The largest portion of the City’s net position (77%) reflects its investment in capital assets, less any related debt used to acquire those assets that is still
outstanding. 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 usually are not used to liquidate these liabilities.
City of Atascadero
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2024
8
Government-Wide Financial Analysis (continued)
An additional 18% of the City’s net position represents resources subject to external restrictions on how they may be used. The remaining 5% ($13,286,177)
is considered unrestricted and may be used to meet the City’s ongoing obligations to citizens and creditors. There was an increase of $1,578,364 in unrestricted
net position from fiscal year 2022-2023 to 2023-2024.
Consistent with the prior fiscal year, as of the end of the current fiscal year, the City is able to report positive balances in both categories of net position, for both
the government as a whole, as well as for its separate governmental and business-type activities.
During the current fiscal year, the City’s net position increased by about $16.4 million. Information about changes in net position is summarized below:
2023-2024
Governmental
Activities
2023-2024
Business-Type
Activities
2023-2024
Total
2022-2023
Governmental
Activities
2022-2023
Business-Type
Activities
2022-2023
Total
Revenues:
Program Revenues
Charges for services 4,215,346$ 5,110,610$ 9,325,956$ 4,175,691$ 4,388,182$ 8,563,873$
Operating grants and contributions 1,719,998 427,145 2,147,143 5,310,449 451,758 5,762,207
Capital grants and contributions 10,560,939 3,070 10,564,009 6,186,809 - 6,186,809
General Revenues:
Secured and unsecured property taxes 13,975,711 - 13,975,711 13,118,922 - 13,118,922
Sales and use taxes 14,643,144 - 14,643,144 14,497,346 - 14,497,346
Other taxes 4,422,575 - 4,422,575 4,407,877 - 4,407,877
Motor vehicle in lieu 38,021 - 38,021 31,551 - 31,551
Investment income 3,135,948 521,184 3,657,132 434,388 93,234 527,622
Interest from Successor Agency 749,116 - 749,116 741,223 - 741,223
Total Revenues 53,460,798 6,062,009 59,522,807 48,904,256 4,933,174 53,837,430
SUMMARY OF CHANGES IN NET POSITION
For the Fiscal Years Ended June 30, 2024 and 2023
City of Atascadero
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2024
9
Government-Wide Financial Analysis (continued)
2023-2024
Governmental
Activities
2023-2024
Business-Type
Activities
2023-2024
Total
2022-2023
Governmental
Activities
2022-2023
Business-Type
Activities
2022-2023
Total
Program Expenses
General Government 3,648,247$ -$ 3,648,247$ 2,972,712$ -$ 2,972,712$
Public Safety 19,229,282 - 19,229,282 14,222,407 - 14,222,407
Community Development 5,938,261 - 5,938,261 3,462,951 - 3,462,951
Community, Recreation & Zoo Services 3,730,252 - 3,730,252 2,798,280 - 2,798,280
Parks & Open Space 1,892,022 - 1,892,022 1,207,467 - 1,207,467
Public Works 4,669,691 - 4,669,691 3,945,896 - 3,945,896
Sewer - 2,913,934 2,913,934 - 2,627,818 2,627,818
Transit - 507,744 507,744 - 565,609 565,609
Interest on long-term debt 622,559 - 622,559 683,366 - 683,366
Total Expenses 39,730,314 3,421,678 43,151,992 29,293,079 3,193,427 32,486,506
Change in net position 13,730,484 2,640,331 16,370,815 19,611,177 1,739,747 21,350,924
Net position- beginning 191,388,475 27,776,156 219,164,631 171,777,298 26,036,409 197,813,707
Net position- ending 205,118,959$ 30,416,487$ 235,535,446$ 191,388,475$ 27,776,156$ 219,164,631$
SUMMARY OF CHANGES IN NET POSITION (continued)
For the Fiscal Years Ended June 30, 2024 and 2023
Governmental activities during the fiscal year increased the City’s net position by $13,730,484. Business-type activities increased the City’s net position by
$2,640,331.
Financial Analysis of the City’s Funds
As noted earlier, the City of Atascadero 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 near-term inflows, outflows, and balances of spendable resources. Such information is
useful in assessing the City’s financing requirements.
City of Atascadero
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2024
10
Financial Analysis of the City’s Funds (continued)
Governmental Funds (continued)
As of June 30, 2024, the City’s governmental funds reported combined ending fund balances of $62,082,318. Of this total, $106,006 cannot be spent because
it is in a non-spendable form and/or a non-cash form such as prepaid items, deposits, and inventory. The City’s governmental funds Unassigned Fund Balance
is $20,336,815. The General Fund portion of this, $21,044,476, is available for any purpose. The remaining Unassigned Fund Balance is the amount of the
Fire Aerial Vehicle Impact Fees Fund where expenditures were made prior to receipt of restricted revenues. The Restricted Fund Balance of $41,541,836
includes amounts constrained to specific purposes by their providers (such as grantors, bondholders, and higher levels of government), through constitutional
provisions, or by enabling legislation. The Assigned fund balance, $97,661, is the amount the City intends to use for road projects.
General Fund – The General Fund is the chief operating fund of the City. At June 30, 2024, the total fund balance was $21,228,656 and the spendable
unassigned fund balance was 99% of the total. As a measure of the General Fund’s liquidity, it may be useful to compare total fund balance to total fund
expenditures. The total General Fund balance represents 54% of fund expenditures. The General Fund balance increased $42,021 during the fiscal year.
Local Transportation Fund – This fund accounts for Local Transportation funds that can be used for streets projects. Local Transportation Funds (LTF) must
first be spent to meet any reasonable community transit need. The City uses LTF monies to run the City's bus system and to contribute to San Luis Obispo
Regional Transit Authority. Any remaining funds are accounted for in this fund and must be used for bikepath projects and streets projects. The fund balance
at June 30, 2024, was $7,816,351, down $737,997 from the prior fiscal year. The decreased fund balance is primarily due to some large projects including the
Downtown Infrastructure Enhancement Plan and the Downtown District Paving Rehabilitation project.
Circulation System Fees Fund – This fund accounts for fees that are paid by developers to fund the creation of more lane miles or more efficient lane miles
with which to accommodate the additional trips created by new development. These fees are expended for the construction of new/increased/improved roadway
and bridge facilities. The fund balance at June 30, 2024, was $3,238,182, up $466,616 from the prior fiscal year.
2010 Bond Debt Service Fund – The 2010 Bond Debt Service Fund accounts for all of the advances receivable from the Successor Agency and the debt
service payments for the Lease Revenue Bonds that were issued on September 1, 2010. At June 30, 2024, the total fund balance was $13,637,821, which
reflects $13.5 million in advances receivable from the Successor Agency. See Notes 8 and 15 to the financial statements for additional information on the
Successor Agency and the bond issue. These bonds were defeased on July 16, 2024.
Other Governmental Funds – These are nonmajor funds of the City and are presented in the basic financial statements in the aggregate and in detail in the
supplementary section of this report. At June 30, 2024, these funds had an aggregate fund balance of $16,161,308. Of this total, $19,982 is non-spendable,
$97,661 is assigned for specific uses, and ($707,661) is unassigned. The Restricted Fund Balance is $16,751,326. More information about these nonmajor
funds can be found in the combining and individual fund financial statements and schedules.
Proprietary Funds
The City’s two enterprise funds provide the same type of information found in the Government-wide Financial Statements, but in more detail. Highlights of the
annual activity for these funds have already been presented in the discussion of the business-type activities.
City of Atascadero
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2024
11
Financial Analysis of the City’s Funds (continued)
Debt Administration
Debt, considered a liability of governmental and business-type activities, increased in fiscal year 2023-2024 by $2,454,894, primarily due to the large increase
in the CalPERS Net Pension Liability, as required to be reported by GASB Statement No. 68. The CalPERS Net Pension Liability increased about $2.7 million
from the prior fiscal year mainly due to the changes in the pool including the small asset loss in 2022/2023 (investment return for the year was 6.1% while
CalPERS expected 6.9%, for a loss of 0.8%), the loss due to experience worse than expected (mainly driven by high inflation and COLAs), annual pension
liability growth with normal cost (portion of pension benefits the City’s active employees earn during the year), and the interest on the net pension liability. See
Note 9 for additional information on CalPERS. Total compensated absences were up about $114,000, but this increase was offset by a decrease in the
Subscription Liability of $164,891 and a reduction in bonds payable. The Net Pension Liability for Governmental Activities at the end of the fiscal year was
$36,809,496 and $931,601 for Business-type Activities.
Cash Management
To obtain flexibility in cash management, the City employs a pooled cash system. Under the pooled cash concept, the City invests the cash of all funds with
maturities planned to coincide with cash needs. Idle cash is invested in certain eligible securities as constrained by law and further limited by the City’s
Investment Policy. The goals of the City’s Investment Policy are safety, liquidity, and yield.
Capital Assets
The capital assets of the City are those assets that are used in the performance of the City’s functions, including infrastructure assets. At June 30, 2024, net
capital assets of the governmental activities totaled $160,049,256 and the net capital assets of the business-type activities totaled $20,649,800. Depreciation
and amortization on capital assets is recognized in the Government-wide Financial Statements. The City has elected to depreciate its infrastructure assets. In
order to depreciate the infrastructure assets, an estimated useful life for each type of asset was determined using engineering standards, industry standards,
as well as discussions with City staff regarding the City’s maintenance program for each asset type. This allowed the estimated useful life of each asset type
to be tailored to include the unique attributes of the City of Atascadero.
City of Atascadero
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2024
12
Financial Analysis of the City’s Funds (continued)
The following table presents summary information on the City’s capital assets:
2023-2024
Governmental
Activities
2023-2024
Business-Type
Activities
2023-2024
Total
2022-2023
Governmental
Activities
2022-2023
Business-Type
Activities
2022-2023
Total
Non-Depreciable:
Land 41,659,554$ 547,738$ 42,207,292$ 41,659,554$ 547,738$ 42,207,292$
Construction in progress 5,047,390 3,313,109 8,360,499 8,417,299 2,633,336 11,050,635
Depreciable:
Vehicles and equipment 16,713,745 1,378,782 18,092,527 15,302,806 1,375,712 16,678,518
Structures and improvements 57,636,477 36,281,890 93,918,367 56,869,387 34,154,782 91,024,169
Subscription asset 997,263 - 997,263 949,033 - 949,033
Infrastructure 99,625,050 - 99,625,050 82,656,247 - 82,656,247
Accumulated amortization (357,839) - (357,839) (115,483) - (115,483)
Accumulated depreciation (61,152,530) (20,871,719) (82,024,249) (58,240,715) (20,066,588) (78,307,303)
Net capital assets 160,169,110$ 20,649,800$ 180,818,910$ 147,498,128$ 18,644,980$ 166,143,108$
General Fund Budgetary Highlights
A detailed budgetary comparison schedule for the fiscal year ended June 30, 2024, is presented in the required supplementary information to the basic financial
statements. The final budget amounts (which are the focus of this discussion) are different from those presented in the 2023-2025 budget document. This is
due to changes that occurred between the time that the budget was prepared and fiscal year-end final budget approvals.
The following summarizes the original and final budget compared with actual results for 2023-2024:
General Fund Original Budget Final Budget Actual
Variance
Positive
(Negative)
Revenues 38,020,270$ 38,314,430$ 38,831,479$ 517,049$
Expenditures 45,189,310 45,864,720 39,079,488 6,785,232
Other Sources (Uses)76,880 76,880 290,030 213,150
Fund Balance, beginning 21,186,635 21,186,635 21,186,635 -
Fund Balance, ending 14,094,475$ 13,713,225$ 21,228,656$ 7,515,431$
City of Atascadero
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2024
13
Financial Analysis of the City’s Funds (continued)
Both revenue and expenditure budgets were increased during the year. During the course of the fiscal year, the City Council approved an additional allocation
of $305,000 for Zoo Accreditation expenses. The bulk of the remaining increases were due to special and capital projects that were budgeted but not expended
in the prior year and therefore were moved to fiscal year 2023-2024. Some of the larger projects include the General Plan Update, the Economic Development
Restaurant Loan Program, and the Broadband Development Project. Almost $2.2 million in General Fund budgeted special and capital project for fiscal year
2023-2024 were not spent during the year will carry over to be used in fiscal year 2024-2025.
Economic Factors and Next Fiscal Year’s Budget
The City’s revenues are influenced by the local and national economies. The surrounding economy is currently stable and expected to continue a slow but
steady growth trend. Atascadero is anticipated to see more growth with the Council’s focus on economic development and important infrastructure projects like
the Downtown Infrastructure Enhancement Project that continue to spur growth in the City. The community’s vote to pass Sales Tax Measure D-20 has had a
positive impact on the organization and has made possible many of the great improvements the City now enjoys.
Economic factors and key issues and trends that affect the budget include:
Sales Tax Measure D-20 This is a general purpose one-cent transaction tax that was effective April 1, 2021. It will continue to be used primarily for essential
City services. Revenue in fiscal year 2023-24 from this relatively new revenue source was about $6.5 million.
Public Safety The City and the community strongly support investments in Police and Fire services. Measure D-20 has provided much needed funding for
additional investments in increased staffing levels, vehicle and equipment replacement, the funding for the replacement of Fire Station #1, and upgrades to the
Police Station and Fire Station #2.
Staffing Retention and Attraction Efforts to retain and attract quality staff were key in the development of the budget, with the intention to increase staff
efficiencies, provide improved services to the public, and reduce long-term hiring costs.
Investments in Infrastructure, Internal Replacement Reserves, and Broadband Enhancement The budget includes substantial investments in infrastructure
including the Downtown Infrastructure Enhancement Project, vehicles and equipment replacement and reserves, and funding for Broadband enhancement.
CalPERS Retirement Costs The City’s combined unfunded accrued liability (UAL) for 2023-2024 was about $2.7 million and CalPERS currently estimates that
the fiscal year 2024-2025 payment will be approximately $3.3 million. These UAL payments represent approximately 12% and 14%, respectively, of total
general fund costs of labor for the associated year. At this time and based on current assumptions, CalPERS is projecting the UAL will continue increasing
through fiscal year 2030-2031. The normal costs rates are also expected to continue to grow.
The 2023-2024 budget is lean, smart, and will make the best of the City’s limited resources. In preparing the budget, the objective was to provide an effective
plan to maintain the Council goals and the City’s core services. The Council’s top priorities are:
• Economic and Community Vibrancy
• Fiscal and Infrastructure Efficiency and Sustainability
• Ensuring Public Safety and Providing Exceptional City Services
To accomplish these goals, the 2024-2025 budget includes the planned use of $800,000 in reserves, in accordance with the Council’s financial strategy.
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1
BASIC FINANCIAL STATEMENTS
CITY OF ATASCADERO
STATEMENT OF NET POSITION
June 30, 2024
Governmental
Activities
Business-Type
Activities Total
ASSETS
Cash and investments 66,649,035$ 11,737,374$ 78,386,409$
Restricted cash and investments:
Cash with fiscal agents 10,878 - 10,878
Receivables:
Federal distributions due 1,669,908 210,088 1,879,996
Due from State of California 2,086,829 - 2,086,829
Due from County of San Luis Obispo 707,278 104,521 811,799
Accrued interest 385,880 72,177 458,057
Other receivables 1,569,222 39,565 1,608,787
Deposits, prepaid items, and inventory 111,917 9,304 121,221
Notes receivable 4,050,899 - 4,050,899
Capital assets:
Non-depreciable:
Land 41,659,554 547,738 42,207,292
Construction in progress 5,047,390 3,313,109 8,360,499
Depreciable or amortizable:
Vehicles and equipment 16,713,745 1,378,782 18,092,527
Structures and improvements 57,636,477 36,281,890 93,918,367
Subscription asset 997,263 - 997,263
Infrastructure 99,625,050 - 99,625,050
Accumulated amortization (357,839) - (357,839)
Accumulated depreciation (61,152,530) (20,871,719) (82,024,249)
Total assets 237,410,956 32,822,829 270,233,785
DEFERRED OUTFLOWS
Deferred outflows related to pensions 15,193,371 335,927 15,529,298
Total deferred outflows 15,193,371 335,927 15,529,298
The notes to the basic financial statements are an integral part of this statement.
15
CITY OF ATASCADERO
STATEMENT OF NET POSITION (continued)
June 30, 2024
Governmental
Activities
Business-Type
Activities Total
LIABILITIES
Accounts payable 2,330,963$ 1,226,577$ 3,557,540$
Accrued salaries and benefits 1,196,376 22,227 1,218,603
Other payables 159,250 1,926 161,176
Deposits payable 73,518 - 73,518
Unearned revenue 3,600,517 394,993 3,995,510
Noncurrent liabilities:
Due within one year 119,854 - 119,854
Due in more than one year 39,151,218 945,106 40,096,324
Total liabilities 46,631,696 2,590,829 49,222,525
DEFERRED INFLOWS
Deferred inflows related to pensions 853,672 151,440 1,005,112
Total deferred inflows 853,672 151,440 1,005,112
NET POSITION
Net investment in capital assets 160,049,256 20,649,800 180,699,056
Restricted for:
Restricted for parks and recreation 3,326,544 - 3,326,544
Restricted for streets, roads, and drainage 15,597,984 - 15,597,984
Restricted for public safety 1,917,159 - 1,917,159
Restricted for economic development 1,213,175 - 1,213,175
Restricted for redevelopment and housing 5,857,530 - 5,857,530
Restricted for debt service 13,637,821 - 13,637,821
Unrestricted 3,519,490 9,766,687 13,286,177
Total net position 205,118,959$ 30,416,487$ 235,535,446$
The notes to the basic financial statements are an integral part of this statement.
16
CITY OF ATASCADERO
STATEMENT OF ACTIVITIES
For the Fiscal Year Ended June 30, 2024
Program Revenues
Expenses
Charges for
Services
Operating
Contributions
and Grants
Capital
Contributions
and Grants
Net Governmental
Activities
Net
Business-Type
Activities Total
Governmental activities:
General government 3,648,247$ 162,121$ 100,898$ -$ (3,385,228)$ -$ (3,385,228)$
Public safety 19,229,282 975,189 345,677 114,508 (17,793,908) - (17,793,908)
Community development 5,938,261 1,576,785 151,454 - (4,210,022) - (4,210,022)
3,730,252 1,195,272 105,976 51,683 (2,377,321) - (2,377,321)
Parks & open space 1,892,022 56,437 146,366 260,171 (1,429,048) - (1,429,048)
Public works 4,669,691 249,542 869,627 10,134,577 6,584,055 - 6,584,055
Interest on long-term debt 622,559 - - - (622,559) - (622,559)
Total governmental activities 39,730,314 4,215,346 1,719,998 10,560,939 (23,234,031) - (23,234,031)
Business-type activities:
Sewer 2,913,934 5,093,458 - - - 2,179,524 2,179,524
Transit 507,744 17,152 427,145 3,070 - (60,377) (60,377)
Total business-type activities 3,421,678 5,110,610 427,145 3,070 - 2,119,147 2,119,147
Total government 43,151,992$ 9,325,956$ 2,147,143$ 10,564,009$ (23,234,031) 2,119,147 (21,114,884)
General revenues
Taxes:
Secured and unsecured property taxes 13,975,711 - 13,975,711
Sales tax 14,643,144 - 14,643,144
Transient lodging tax 2,097,167 - 2,097,167
Franchise taxes 1,491,046 - 1,491,046
Business license tax 179,869 - 179,869
Property transfer tax 137,477 - 137,477
Other taxes 517,016 - 517,016
Motor vehicle in lieu 38,021 - 38,021
Investment income 3,135,948 521,184 3,657,132
Interest from Successor Agency 749,116 - 749,116
Total general revenues 36,964,515 521,184 37,485,699
Change in net position 13,730,484 2,640,331 16,370,815
Net position at beginning of fiscal year 191,388,475 27,776,156 219,164,631
Net position at end of fiscal year 205,118,959$ 30,416,487$ 235,535,446$
Net (Expense) Revenue and
Changes in Net Position
Community, recreation & zoo
services
The notes to the basic financial statements are an integral part of this statement.
17
CITY OF ATASCADERO
GOVERNMENTAL FUNDS
BALANCE SHEET
June 30, 2024
General
Fund
Local
Transportation
Fund
Circulation
System Fees
Fund
2010 Bond Debt
Service Fund Totals
ASSETS
Cash and investments 19,762,421$ 8,592,097$ 4,426,869$ 96,372$ 12,127,714$ 45,005,473$
Restricted cash and investments:
- - - 10,878 - 10,878
Receivables:
Federal distributions due 69,092 1,549,420 - - 51,396 1,669,908
Due from State of California 1,873,557 - - - 213,272 2,086,829
346,321 300,488 - - 60,469 707,278
Accrued interest 111,834 48,180 26,202 571 71,255 258,042
Other receivables 1,448,937 - - - 120,285 1,569,222
Due from other funds 71,664 - - - 696,056 767,720
Deposits, prepaid items, and inventory 86,024 - - - 19,982 106,006
Notes receivable - - - - 4,050,899 4,050,899
Advances receivable- Successor Agency - - - 13,530,000 - 13,530,000
Total assets 23,769,850$ 10,490,185$ 4,453,071$ 13,637,821$ 17,411,328$ 69,762,255$
Other
Nonmajor
Governmental
Funds
Cash and investments with fiscal agent
Due from County of San Luis Obispo
The notes to the basic financial statements are an integral part of this statement.
18
CITY OF ATASCADERO
GOVERNMENTAL FUNDS
BALANCE SHEET (continued)
June 30, 2024
General
Fund
Local
Transportation
Fund
Circulation
System Fees
Fund
2010 Bond Debt
Service Fund Totals
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 1,114,694$ 703,436$ 1,867$ -$ 216,075$ 2,036,072$
Accrued salaries and benefits 1,140,911 - - - 23,904 1,164,815
Due to other funds - - - - 767,720 767,720
Unearned revenue 173,876 1,970,398 1,213,022 - 242,321 3,599,617
Deposits 73,518 - - - - 73,518
Other payables 38,195 - - - - 38,195
Total liabilities 2,541,194 2,673,834 1,214,889 - 1,250,020 7,679,937
Fund Balances:
Nonspendable 86,024 - - - 19,982 106,006
Restricted 98,156 7,816,351 3,238,182 13,637,821 16,751,326 41,541,836
Assigned for road projects - - - - 97,661 97,661
Unassigned 21,044,476 - - - (707,661) 20,336,815
Total fund balances (deficits)21,228,656 7,816,351 3,238,182 13,637,821 16,161,308 62,082,318
23,769,850$ 10,490,185$ 4,453,071$ 13,637,821$ 17,411,328$ 69,762,255$
Other
Nonmajor
Governmental
Funds
Total liabilities and fund balances
The notes to the basic financial statements are an integral part of this statement.
19
CITY OF ATASCADERO
RECONCILIATION OF THE GOVERNMENTAL FUNDS - BALANCE SHEET
TO THE STATEMENT OF NET POSITION
Total fund balances - governmental funds 62,082,318$
In governmental funds, only current assets are reported. In the statement of net position, all assets are reported,
including capital assets and accumulated depreciation and amortization.
Capital assets at historical cost 150,045,436$
Accumulated depreciation and amortization (35,551,451)
Net 114,493,985
In governmental funds, interest on long-term debt is not recognized until the period in which it matures and is
paid. In the government-wide statement of activities, it is recognized in the period that it is incurred.(165,467)
In governmental funds, the receivable from the Successor Agency related to interest on the 2010 long-term debt is
165,467
Long-term liabilities: In governmental funds, only current liabilities are reported. In the statement of net position,
all liabilities, including long-term liabilities, are reported. Long-term liabilities relating to governmental
activities consist of:
Bonds payable 13,530,000
Workers' Compensation deposits in excess of estimated claims liability (90,333)
Compensated absences payable 1,979,030
CalPERS pension liability 35,390,570
Other Post Employment Benefits 247,632
(51,056,899)
The deferred outflows below are not current assets or financial resources; and the deferred inflows are not
due and payable in the current period and therefore are not reported in the Governmental Funds.
Deferred outflows 14,606,594
Deferred inflows (792,666)
June 30, 2024
not recognized until the period in which it is paid. In the government-wide statement of activities, it is
recognized in the period that it is incurred.
The notes to the basic financial statements are an integral part of this statement.
20
CITY OF ATASCADERO
RECONCILIATION OF THE GOVERNMENTAL FUNDS - BALANCE SHEET
TO THE STATEMENT OF NET POSITION (continued)
Internal service funds are used by management to charge the costs of various City activities to individual
governmental and enterprise funds. The net position of the internal service funds are included in the
Governmental Activities in the Statement of Net Position.65,785,627$
Total net position, governmental activities 205,118,959$
June 30, 2024
The notes to the basic financial statements are an integral part of this statement.
21
CITY OF ATASCADERO
GOVERNMENTAL FUNDS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
For the Fiscal Year Ended June 30, 2024
General
Fund
Local
Transportation
Fund
Circulation
System Fees
Fund
2010 Bond Debt
Service Fund
Other
Nonmajor
Governmental
Funds Totals
Revenues:
Secured and unsecured property taxes 12,833,429$ -$ -$ -$ 1,566,224$ 14,399,653$
Taxes based on sales and use 14,643,144 - - - - 14,643,144
Transient Occupancy Tax 2,097,167 - - - - 2,097,167
Franchise tax 1,491,046 - - - - 1,491,046
Other taxes 370,634 - - - - 370,634
Licenses and permits 990,213 - 264,886 - 413,097 1,668,196
Intergovernmental revenues:
38,021 - - - - 38,021
Grants 335,605 6,956,214 - - 179,878 7,471,697
Other governmental revenues 219,448 2,080,271 - - 1,662,491 3,962,210
Charges for services:
Public safety 810,065 - - - - 810,065
Development 861,217 - - - - 861,217
Recreation, parks, pavilion, and zoo 1,236,099 - - - - 1,236,099
Other services 135,657 - - - - 135,657
Fines and forfeitures 54,320 - - - 657 54,977
Use of money and property 891,877 481,002 210,809 752,026 553,683 2,889,397
Other revenues 1,823,537 - - - 1,455 1,824,992
Total revenues 38,831,479 9,517,487 475,695 752,026 4,377,485 53,954,172
Motor vehicle in lieu
The notes to the basic financial statements are an integral part of this statement.
22
CITY OF ATASCADERO
GOVERNMENTAL FUNDS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (continued)
For the Fiscal Year Ended June 30, 2024
General
Fund
Local
Transportation
Fund
Circulation
System Fees
Fund
2010 Bond Debt
Service Fund
Other
Nonmajor
Governmental
Funds Totals
Expenditures:
Current:
General government 3,813,233$ -$ -$ -$ 9,110$ 3,822,343$
Public safety 19,840,323 - - - 122,725 19,963,048
Community development 3,917,515 - - 1,422,867 456,852 5,797,234
3,356,030 - - - - 3,356,030
Parks and open space 1,550,679 - - - 34,923 1,585,602
Public works 1,755,946 52,399 - - 1,556,154 3,364,499
Capital outlay 4,845,762 10,207,137 9,079 - 320,343 15,382,321
Debt service:
Principal - - - 295,000 - 295,000
Interest - - - 676,963 - 676,963
Total expenditures 39,079,488 10,259,536 9,079 2,394,830 2,500,107 54,243,040
Excess of revenues over (under)
expenditures (248,009) (742,049) 466,616 (1,642,804) 1,877,378 (288,868)
Other Financing Sources (Uses):
Transfers in 760,880 4,052 - - 523,234 1,288,166
Transfers out (470,850) - - - (817,316) (1,288,166)
Total other financing sources
and uses 290,030 4,052 - - (294,082) -
Net change in fund balances 42,021 (737,997) 466,616 (1,642,804) 1,583,296 (288,868)
Fund balances (deficits) - June 30, 2023 21,186,635 8,554,348 2,771,566 15,280,625 14,578,012 62,371,186
Fund balances (deficits) - June 30, 2024 21,228,656$ 7,816,351$ 3,238,182$ 13,637,821$ 16,161,308$ 62,082,318$
Community, recreation and
zoo services
The notes to the basic financial statements are an integral part of this statement.
23
CITY OF ATASCADERO
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
For the Fiscal Year Ended June 30, 2024
Total net change in fund balance - governmental funds (288,868)$
Capital outlays are reported in governmental funds as expenditures. However, in the statement of activities, the cost of
capital assets is allocated over their estimated useful lives as depreciation expense. This is the amount by which
additions to capital assets of $15,382,321 is greater than depreciation expense $(2,055,127) in the period.13,327,194
The sale or deletion of capital assets is not recorded in the governmental financial statements. In the statement of activities,
however, the gain or loss from the sale or deletion is recorded as an appropriate program expense.(126,549)
In governmental funds, repayments of long-term debt are reported as expenditures. In the government-wide statements,
repayments of long-term debt are reported as reductions of liabilities.295,000
In governmental funds, the issuance premiums associated with long-term debt are reported as revenue in the fiscal year debt is
issued. In the government-wide statements, the issuance premiums are recorded as liabilities and are amortized over
the life of the related debt.51,494
In governmental funds, interest on long-term debt is recognized in the period that it becomes due. In the government-wide
statement of activities, it is recognized in the period that it is incurred. Unmatured interest owing at the end of the period,
less matured interest paid during the period but owing from the prior period was:(2,910)
In governmental funds, reimbursement from the Successor Agency related to interest on the 2010 long-term debt is recognized in
the period that it becomes due. In the government-wide statement of activities, it is recognized in the period that it is earned. 2,910
In the statement of activities, compensated absences are measured by the amounts earned during the fiscal year. In
governmental funds, however, expenditures for these items are measured by the amount of financial resources used
(essentially the amounts paid). This fiscal year, leave amounts earned exceeded the amounts used by:(105,324)
In governmental funds, pension costs are recognized when employer contributions are made. In the Statement of Activities,
pension costs are recognized on the accrual basis. This fiscal year, the difference between accrual-basis pension costs and
actual employer contributions was:(1,665,084)
In the statement of activities, changes to some claims and judgment liabilities do not require the use of current financial resources and
therefore are not reported as expenditures in governmental funds. (71,308)
The notes to the basic financial statements are an integral part of this statement.
24
CITY OF ATASCADERO
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES (continued)
For the Fiscal Year Ended June 30, 2024
In the statement of activities, the long-term liability for Other Post Employment Benefits is recognized. The decrease in the
long-term liability does not require the use of current financial resources and is not reported in governmental funds.3,304$
Internal service funds are used by management to charge the costs of various City activities to individual governmental and
enterprise funds. The change in the unrestricted net position of the internal service funds is included in the
Governmental Activities in the Statement of Activities. This amount is the net of the change in net position $3,228,769
less the capital contributions from other governmental funds ($918,144).2,310,625
Changes in net position - governmental activities 13,730,484$
The notes to the basic financial statements are an integral part of this statement.
25
CITY OF ATASCADERO
PROPRIETARY FUNDS
STATEMENT OF NET POSITION
June 30, 2024
Wastewater Fund Transit Fund Totals
ASSETS
Current Assets:
Cash and investments 11,629,633$ 107,741$ 11,737,374$ 21,643,562$
Receivables:
Federal distributions due - 210,088 210,088 -
Due from County of San Luis Obispo 104,476 45 104,521 -
Accrued interest 71,470 707 72,177 127,838
Other receivables 37,058 2,507 39,565 -
Prepaid expenses 6,692 2,612 9,304 5,911
Total current assets 11,849,329 323,700 12,173,029 21,777,311
Capital Assets:
Non-depreciable:
Land 547,738 - 547,738 -
Construction in progress 3,313,109 - 3,313,109 509,985
Depreciable:
Vehicles and equipment 1,021,993 356,789 1,378,782 16,623,029
Structures and improvements 34,809,454 1,472,436 36,281,890 53,503,766
Accumulated depreciation (19,746,426) (1,125,293) (20,871,719) (25,601,079)
Subscription assets, net - - - 639,424
Net capital assets 19,945,868 703,932 20,649,800 45,675,125
Total assets 31,795,197 1,027,632 32,822,829 67,452,436
DEFERRED OUTFLOWS
Deferred outflows related to pensions 315,833 20,094 335,927 586,777
Total deferred outflows 315,833 20,094 335,927 586,777
Internal Service
Funds
Enterprise Funds
The notes to the basic financial statements are an integral part of this statement.
26
CITY OF ATASCADERO
PROPRIETARY FUNDS
STATEMENT OF NET POSITION (continued)
June 30, 2024
Wastewater Fund Transit Fund Totals
LIABILITIES
Current Liabilities:
Accounts payable 1,208,927$ 17,650$ 1,226,577$ 294,891$
Accrued salaries and benefits 20,306 1,921 22,227 31,561
Unearned revenue - 394,993 394,993 900
Other payables - 1,926 1,926 121,055
Noncurrent Liabilities:
Noncurrent liabilities 874,417 70,689 945,106 1,744,173
Total liabilities 2,103,650 487,179 2,590,829 2,192,580
DEFERRED INFLOWS
Deferred inflows related to pensions 151,169 271 151,440 61,006
Total deferred inflows 151,169 271 151,440 61,006
NET POSITION
Net investment in capital assets 19,945,868 703,932 20,649,800 45,675,125
Net subscription liability - - - 367,150
Unrestricted 9,910,343 (143,656) 9,766,687 19,743,352
Total net position 29,856,211$ 560,276$ 30,416,487$ 65,785,627$
Enterprise Funds
Internal Service
Funds
The notes to the basic financial statements are an integral part of this statement.
27
CITY OF ATASCADERO
PROPRIETARY FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
For the Fiscal Year Ended June 30, 2024
Wastewater Fund Transit Fund Totals
Operating Revenues:
Service fees 4,841,110$ 17,130$ 4,858,240$ 3,430,070$
Installation, extension, and connection fees 251,727 - 251,727 -
Other 621 22 643 -
Total operating revenues 5,093,458 17,152 5,110,610 3,430,070
Operating Expenses:
Salaries and benefits 516,661 57,277 573,938 997,506
Office expense 1,330 940 2,270 1,125
Advertising 497 - 497 -
Computer maintenance and replacement 42,754 28,569 71,323 4,240
Insurance 52,082 8,478 60,560 86,959
Occupancy and rental costs 42,906 3,590 46,496 60,120
Utilities 472,529 - 472,529 116,173
Communications 11,580 1,489 13,069 94,078
Operating supplies 98,690 697 99,387 50,809
Vehicle and equipment operating costs 58,934 41,954 100,888 20,033
Contract services 161,603 132,822 294,425 221,436
Professional development 6,263 800 7,063 4,536
Recruitment 1,850 49 1,899 853
Interest expense - - - 12,821
Franchise fees 96,078 - 96,078 -
Administrative charges 485,040 167,610 652,650 93,950
Special projects:
Refrigerator 1,298 - 1,298 -
Manhole rehabilitation projects 12,358 - 12,358 -
Collection system expansion feasibility 7,625 - 7,625 -
Sewer system management plan 26,030 - 26,030 -
Wastewater master plan study 76,164 - 76,164 -
Website enhancement - - - 2,500
Other office furniture - - - 8,467
Wireless networks - - - 4,946
Swift water rescue personal protective equipment - - - 8,875
Tables - - - 1,256
Chairs - - - 209
HVAC Repairs - - - 33,297
Internal Service
Funds
Enterprise Funds
The notes to the basic financial statements are an integral part of this statement.
28
CITY OF ATASCADERO
PROPRIETARY FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION (continued)
For the Fiscal Year Ended June 30, 2024
Wastewater Fund Transit Fund Totals
Operating Expenses (continued):
Amortization expense -$ -$ -$ 242,355$
Depreciation expense 741,662 63,469 805,131 2,099,791
Total operating expenses 2,913,934 507,744 3,421,678 4,166,335
Operating income (loss)2,179,524 (490,592) 1,688,932 (736,265)
Non-Operating Revenues (Expenses):
Transportation Development Act Funds - Operations - 213,573 213,573 -
Section 5307 Revenues - Operations - 213,572 213,572 -
Investment income 519,257 1,927 521,184 998,579
Gain on sale of capital assets - - - 88,167
Total non-operating revenues 519,257 429,072 948,329 1,086,746
Change in net position prior to capital
contributions 2,698,781 (61,520) 2,637,261 350,481
Capital Contributions:
Transportation Development Act Funds - Capital - 3,070 3,070 -
Cash contributions from other funds - - - 1,960,144
Capital contributions from other funds - - - 918,144
Total capital contributions - 3,070 3,070 2,878,288
Change in net position 2,698,781 (58,450) 2,640,331 3,228,769
Total net position, June 30, 2023 27,157,430 618,726 27,776,156 62,556,858
Total net position, June 30, 2024 29,856,211$ 560,276$ 30,416,487$ 65,785,627$
Enterprise Funds
Internal Service
Funds
The notes to the basic financial statements are an integral part of this statement.
29
CITY OF ATASCADERO
PROPRIETARY FUNDS
COMBINING STATEMENT OF CASH FLOWS
For the Fiscal Year Ended June 30, 2024
Wastewater Fund Transit Fund Totals
Cash Flows From Operating Activities:
Receipts from customers 5,041,806$ 16,017$ 5,057,823$ -$
Internal activity - payments from other funds - - - 3,430,070
Payments to suppliers of goods and services (586,305) (379,836) (966,141) (677,609)
Payments for employee services (466,940) (52,191) (519,131) (909,800)
Net cash provided (used) by operating
activities 3,988,561 (416,010) 3,572,551 1,842,661
- 465,428 465,428 -
Net cash provided by non-capital
related financing activities - 465,428 465,428 -
Acquisition of capital assets (2,806,881) (3,070) (2,809,951) (1,693,770)
Cash contributions for capital purchases - - - 1,840,400
Capital grant proceeds - 15,370 15,370 -
Proceeds from sale of capital assets - - - 3,141
Net cash provided (used) by capital and
related financing activities (2,806,881) 12,300 (2,794,581) 149,771
Cash Flows From Non-Capital Financing
Activities:
Cash Flows From Capital and Related Financing
Activities:
Receipts from intergovernmental agencies
Internal Service
Funds
Enterprise Funds
The notes to the basic financial statements are an integral part of this statement.
30
CITY OF ATASCADERO
PROPRIETARY FUNDS
COMBINING STATEMENT OF CASH FLOWS (continued)
For the Fiscal Year Ended June 30, 2024
Wastewater Fund Transit Fund Totals
Cash Flows From Investing Activities:
Interest income 502,279$ 1,295$ 503,574$ 951,222$
Net cash provided (used) by investing
activities 502,279 1,295 503,574 951,222
Net increase in cash and cash
equivalents 1,683,959 63,013 1,746,972 2,943,654
Cash and cash equivalents - June 30, 2023 9,945,674 44,728 9,990,402 18,699,908
Cash and cash equivalents - June 30, 2024 11,629,633$ 107,741$ 11,737,374$ 21,643,562$
Reconciliation to Statement of Net Position
Operating income (loss)2,179,524$ (490,592)$ 1,688,932$ (736,265)$
Amortization expense - - - 242,355
Depreciation expense 741,662 63,469 805,131 2,099,791
Receivables, net (51,652) (1,135) (52,787) -
Prepaid expenses 1,449 - 1,449 210
Accounts payable 1,067,857 7,162 1,075,019 140,989
Accrued salaries and benefits 8,785 158 8,943 1,851
Other payables - - - 9,363
Deferred outflows 3,540 495 4,035 8,301
Deferred inflows (14,078) (1,969) (16,047) (33,003)
Long-term subscriptions payable - - - (1,488)
Net pension liability 45,803 6,402 52,205 107,371
Compensated absences 5,671 - 5,671 3,186
Net cash provided (used) by operating activities 3,988,561$ (416,010)$ 3,572,551$ 1,842,661$
Change in assets, deferred outflows,
liabilities, and deferred inflows:
Internal Service
Funds
Adjustments to reconcile operating income (loss) to
net cash provided (used) by operating activities:
Reconciliation of operating income (loss) to net
cash provided (used) by operating activities:
Enterprise Funds
The notes to the basic financial statements are an integral part of this statement.
31
CITY OF ATASCADERO
PRIVATE PURPOSE TRUST FUNDS
STATEMENT OF FIDUCIARY NET POSITION
June 30, 2024
Successor Agency to the
Community
Redevelopment Agency
of Atascadero
Housing Successor
Agency to the Community
Redevelopment Agency
of Atascadero Totals
ASSETS
Cash and investments 1,807,704$ -$ 1,807,704$
GASB 31 Adjustment to market (30,706) - (30,706)
Restricted cash and investments:
20,664,512 - 20,664,512
Receivables:
Accrued interest 9,232 - 9,232
Accrued interest - bond escrow 222,431 - 222,431
Other receivables 350 - 350
Notes receivable - 200,000 200,000
Due from Successor Agency - 1,335,322 1,335,322
Total assets 22,673,523 1,535,322 24,208,845
LIABILITIES
Accounts payable 32 - 32
Unearned revenue 667,198 - 667,198
Interest Payable 281,514 - 281,514
Due to Successor Agency Housing Fund 1,335,322 - 1,335,322
Premium on Bonds Payable 2,174,774 - 2,174,774
2004 Bonds Payable 7,070,000 - 7,070,000
13,530,000 - 13,530,000
16,835,000 - 16,835,000
Total liabilities 41,893,840 - 41,893,840
NET ASSETS
Held in trust for taxing agencies (19,220,317)$ 1,535,322$ (17,684,995)$
Successor Agency to the Atascadero Community
Redevelopment Agency
Cash with fiscal agent
2024 Tax Allocation Refunding Bonds payable
2010 Bond Reimbursement Agreement payable
The notes to the basic financial statements are an integral part of this statement.
32
CITY OF ATASCADERO
PRIVATE-PURPOSE TRUST FUNDS
STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS
June 30, 2024
Successor Agency to the
Community
Redevelopment Agency
of Atascadero
Housing Successor
Agency to the Community
Redevelopment Agency
of Atascadero Totals
Additions
Contributions:
RPTTF Distributions 1,835,313$ -$ 1,835,313$
Distributions for 2024 Bond Refunding 1,416,910 - 1,416,910
Investment earnings:
Interest 323,877 - 323,877
Total additions 3,576,100 - 3,576,100
Deductions
Payment on outstanding services contracts 2,420 - 2,420
Administrative costs 47,340 - 47,340
2004 Bond Interest Expense 352,265 - 352,265
2010 Bond Reimbursement Interest Expense 653,441 - 653,441
Total deductions 1,055,466 - 1,055,466
Change in net assets before extraordinary items 2,520,634 - 2,520,634
Cost of bond issuance (490,138) - (490,138)
Net assets - June 30, 2023 (21,250,813) 1,535,322 (19,715,491)
Net assets - June 30, 2024 (19,220,317)$ 1,535,322$ (17,684,995)$
The notes to the basic financial statements are an integral part of this statement.
33
NOTES TO THE BASIC FINANCIAL STATEMENTS
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
34
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity The accompanying basic financial statements present the financial activity of the City, which is the primary government. The reporting entity is the City of Atascadero. There are no component units included in this report which meet the reporting entity definition criteria of GASB Statement No. 14, The Financial Reporting Entity, as amended by GASB Statement No. 39, GASB Statement No. 61, GASB Statement No. 80, and GASB Statement No. 90.
B. Basis of Presentation The City’s basic financial statements are prepared in conformity with accounting principles generally accepted in the United States of America. The Governmental Accounting Standards Board is the acknowledged standard-setting body for establishing accounting and financial reporting standards followed by governmental entities in the United States of America. The accompanying financial statements are presented on the basis set forth in Governmental Accounting Standards Board Statements No. 34, Basic
Financial Statements—Management’s Discussion and Analysis—for State and Local Governments; No. 36, Recipient Reporting for Certain Non-Exchange
Revenues, an Amendment of GASB Statement No. 33; No. 37, Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Government – Omnibus; and No. 38, Certain Financial Statement Note Disclosures.
These statements require that the financial statements described below be presented. Government-Wide and Fund Financial Statements The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on the primary government
and its component unit. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and
charges for support. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted
to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. Separate financial statements are provided for governmental funds, proprietary funds, and private purpose trust funds. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
35
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) C. Major Funds
GASB Statement No. 34 defines major funds and requires that the City’s major governmental funds are identified and presented separately in the fund financial statements. All other funds, called nonmajor funds, are combined and reported in a single column, regardless of their fund-type. Major funds are defined as funds that have either assets, liabilities, revenues, or expenditures/expenses equal to ten percent of their fund-type total. The General Fund is always a major fund. The City may also select other funds it believes should be presented as major funds. The City reported the following major governmental funds in the accompanying financial statements:
General Fund This fund accounts for all financial resources except those to be accounted for in another fund. It is the general operating fund of the City. Local Transportation Fund This fund accounts for Local Transportation Funds that can be used for streets projects. Local Transportation Funds (LTF) must first be spent to meet any reasonable community transit need. The City uses the majority of LTF monies to run the City’s bus system and to contribute to San Luis Obispo Regional Transit Authority. Any remaining funds are accounted for in this fund and must be used for bikepath projects and street projects.
Circulation System Fees Fund This fund accounts for fees that are paid by developers to fund the creation of more lane miles or more efficient lane miles with which to accommodate the additional trips created by new development. These fees are expended for the construction of new/increased/improved roadway and bridge facilities. 2010 Bond Debt Service Fund This fund accounts for the debt service payments for the Lease Revenue Bonds that were issued on September 1, 2010. The City reported the following major proprietary funds: Wastewater Fund This fund accounts for the activities associated with the City’s sewer plant operation and maintenance. Transit Fund
This fund accounts for the activities associated with the operation and maintenance of transportation services, such as and including the Dial-a-Ride Transit System.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
36
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) D. Internal Service Funds The Internal Service Funds are used to account for services rendered on a cost-reimbursement basis within the City. The City maintains three internal service funds: the Technology Fund, the Vehicle and Equipment Replacement Fund, and the Building Maintenance and Replacement Fund. The Internal Service Funds are presented in total on the Proprietary Funds financial statements. They are included in the governmental activities in the government-wide financial statements since they represent internal governmental activities.
E. Private Purpose Trust Funds Private Purpose Trust Funds are used to account for monies held on behalf of others in a fiduciary capacity. The City uses private purpose trust funds to account for the Successor Agency of the Former Redevelopment Agency which was dissolved on January 31, 2012, pursuant to state law. All resources of the funds are used to support specified activities. F. Basis of Accounting The government-wide, proprietary fund financial statements, and the private purpose trust fund financial statements are reported using the economic resources measurement focus and the full accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The City considers all revenues reported in the governmental funds to be available if the revenues are collected within sixty days after fiscal year end. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on long-term debt, claims and judgments, and compensated absences, which are recognized as expenditures to the extent that they have matured. Capital
asset acquisitions are reported as expenditures in governmental funds. Proceeds of long-term debt and acquisitions under leases and SBITAs are reported as other financing sources.
Proprietary funds distinguish operating revenues from nonoperating revenues. Operating revenues generally result from providing services in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the Wastewater Fund and the Transit Fund are charges to customers for services. The Wastewater Fund also recognizes as operating revenue the installation, extension and connections fees intended to recover the cost of connecting new customers to the system. All revenues not meeting these definitions are reported as non-operating revenues, including non-exchange transactions such as local transportation funds and federal Section 5307 revenues.
Non-exchange transactions, in which the City gives or receives value without directly receiving or giving equal value in exchange, include property taxes, grants, entitlements, and donations. On an accrual basis, revenues from property taxes are recognized in the fiscal year for which the taxes are levied. Revenue from grants, entitlements, and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
37
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
F. Basis of Accounting (continued) Other revenues susceptible to accrual include other taxes, intergovernmental revenues, interest, and charges for services.
Grant revenues are recognized in the fiscal year in which all eligibility requirements are met. Under the terms of grant agreements, the City may fund certain programs with a combination of cost-reimbursement grants, categorical block grants, and general revenues. Thus, both restricted and unrestricted net position may be available to finance program expenditures/expenses. The City’s policy is to first apply restricted grant resources to such programs, followed by general revenues if necessary.
G. Compensated Absences In compliance with Governmental Accounting Standards Board Statement No. 16, the City has established a liability for accrued vacation, other leave and certain sick leave in relevant funds. For governmental funds, the current liability appears in the respective funds. All vacation, sick, and other leave paid is accrued when incurred in the government-wide and proprietary funds financial statements. This liability is set up for the current employees at the current
rates of pay. If vacation and certain other leave are not used by the employee during the term of employment, compensation is payable to the employee at the time of retirement or termination. Such compensation is calculated at the employee’s prevailing rate at the time of retirement or termination. Each fiscal year, an adjustment to the liability is made based on pay rate changes and adjustments for the current portion. The General Fund is primarily responsible for the repayment of the governmental portion of compensated absences. H. Property Taxes California Constitution Article XIII A limits the combined property tax rate to one percent of a property’s assessed valuation. Additional taxes may be imposed with voter approval. Assessed value is calculated at one hundred percent of a property’s fair value, as defined by Article XIII A, and may be increased no more than two percent per year unless a change in ownership or new construction occurs. The state legislature has determined the method of distributing the one percent tax levy among the various taxing jurisdictions. Property tax revenues are recognized in the fiscal year for which taxes have been levied and collected within sixty days of fiscal year end. Property taxes
are billed and collected as follows: Secured Unsecured Valuation/Lien Date(s) January 1 January 1 Levy Date(s) July 1 July 1 Due Date(s) November 1 (50%) August 1 February 1 (50%) Delinquency Date(s) December 10 (Nov.) August 31 April 10 (Feb.)
The City adopted an alternative method of property tax distribution (the “Teeter Plan”). Under this method, the City receives 100% of its secured property
tax levied in exchange for foregoing any interest and penalties collected on delinquent taxes. The City receives payments as a series of advances made by the County throughout the fiscal year. The secured property tax levy is recognized as revenue upon receipt, including the final payment, which generally is received within 60 days after the fiscal year end.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) I. Capital Assets Additions and Retirements Capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Contributed capital assets are valued at their estimated fair value on the date contributed. The City’s policy is to capitalize all capital assets with costs exceeding a minimum of $2,500, and with useful lives exceeding one year. In the Technology Fund, the City uses a lower cost threshold to capitalize assets due to the nature of the assets.
With the implementation of GASB Statement No. 34, the City has recorded all its public domain (infrastructure) capital assets, which include roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems. The City’s collection of zoo animals is not capitalized. The collection of animals is held for public education purposes, is well cared for, and there is a City commitment to continue the collection. The purpose of depreciation is to spread the cost of capital assets equitably among all users over the life of these assets. The amount charged to depreciation expense each fiscal year represents that fiscal year’s pro rata share of the cost of capital assets. GASB Statement No. 34 requires that all capital assets with limited useful lives be depreciated over their estimated useful lives. Depreciation is provided using the straight-line method which means the cost of the
asset is divided by its expected useful life in years and the result is charged to expense each fiscal year until the asset is fully depreciated. The City has assigned the useful lives listed below to capital assets.
Structures and Improvements 3-100 years Equipment 3-25 years Infrastructure 15-100 years J. Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, as prescribed by the GASB and the American Institute of Certified Public Accountants, requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period. Actual results could differ from those estimates. K. Cash and Cash Equivalents
For purposes of the statement of cash flows, the City considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Proprietary Funds’ “deposits” in the Citywide cash management pool are, in substance, demand deposits and are, therefore, considered cash equivalents for purposes of the statement of cash flows.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
L. Performance Bonds
The City receives performance bonds from developers to ensure compliance and completion of projects that affect the City’s infrastructure. These commitments may be in the form of cash, certificates of deposit in the City’s name, letters of credit, or surety bonds. Upon receipt, these deposits are recorded both as an asset and a liability. For purposes of simplifying the balance sheet, the performance bonds asset account in the amount of $47,416,271 was netted against the liability account of $47,475,605 in fiscal year 2024. The net balance in the performance bond deposits liability account at June 30, 2024, was $59,334 and is included with other amounts in the “Deposits” liability reported in the basic financial statements.
M. Short-Term Debt The City has no short-term debt.
N. Long-Term Contracts The City uses the percentage-of-completion method of accounting for long-term contracts, recognizing the pro rata portion of the contract in the accounting period covered by the contract.
O. Fund Balance
Categories of Fund Balance In accordance with Government Accounting Standards Board Statement No. 54, the City classifies fund balances as follows: Non-spendable- includes fund balance amounts that cannot be spent either because it is not in spendable form or because of legal or contractual constraints. Restricted- includes fund balance amounts that are constrained for specific purposes which are externally imposed by providers, such as creditors or amounts constrained due to constitutional provisions or enabling legislation.
Committed- includes amounts that can only be used for specific purposes pursuant to constraints imposed by the City Council. Assigned- includes fund balance amounts that are constrained for specific purposes by the City through formal action of the City Council and does not lapse at fiscal year end. Unassigned- includes positive fund balance within the General Fund which has not been classified within the above-mentioned categories and negative fund balances in other governmental funds. Non-Spendable Fund Balance
The non-spendable fund balance of $106,006 is comprised of amounts reported in non-spendable form and/or not in cash form such as prepaid items and deposits. Restricted Fund Balance
The restricted fund balance of $41,541,836 is comprised of $98,156 for economic development to offset the impact of the impending closure of Pacific Gas and Electric’s Diablo Canyon Power Plant, $5,857,530 for affordable housing, $13,637,821 restricted for debt service, and $21,948,329 restricted for other
Capital Project Funds and Special Revenue Funds.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
O. Fund Balance (continued) Assigned Fund Balance The fund balance assigned for road projects of $97,661 is held in the Capital Projects Fund for road rehabilitation projects. These funds remain from the City Council’s action to move funds annually in fiscal years 2001/2002 through 2007/2008 for these projects, and associated interest earnings.
Use of Fund Balance Order
The City budgets and expends funds for each project or expense based on specific identified funding sources that are available now and in the future. This means that, at times, the City may use unrestricted funds first for a particular project, leaving the eligible restricted funds available for a specific future project; however, it is the City’s general policy to use restricted amounts first when both restricted and unrestricted amounts are available. Similarly, the City would
typically first use committed, then assigned, and lastly unassigned amounts of unrestricted fund balance when expenditures are made. Minimum Fund Balance Policy The City adopted a formal fund balance policy stating that as part of the biennial budget process, fund balance shall be evaluated to determine the prudent level of reserves based on eleven key measurements. The policy further states that except in the case of natural or fiscal emergencies, the City’s general
fund balance shall not fall below 20% of General Fund expenditures. The General Fund reserve met this criterion for fiscal year 2023-2024. Major Special Revenue and Capital Projects Funds The purpose for each major fund may be found in Note 1(C); however, each major special revenue and capital projects fund and its revenue source is listed below: Major Special Revenue and Debt Service Funds Revenue Source
Local Transportation Fund Local Transportation Funds
Circulation System Fees Fund Development Impact Fees
2010 Bond Debt Service Fund Successor Agency Tax Increment
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
O. Fund Balance (continued) Detailed Schedule of Fund Balances A detailed schedule of fund balances is provided below:
General
Fund
Local
Transportation
Fund
Circulation
System
Fees Fund
2010 Bond
Debt Service
Fund Totals
FUND BALANCES:
Nonspendable
86,024$ -$ -$ -$ 19,982$ 106,006$
RestrictedPublic Safety - - - - 1,911,762 1,911,762
Streets, Roads, and Drainage - 7,816,351 3,238,182 - 4,540,471 15,595,004
Parks, Open Space, and Recreation - - - - 3,326,544 3,326,544
98,156 - - - 1,115,019 1,213,175 Affordable Housing - - - - 5,857,530 5,857,530
Debt Service - - - 13,637,821 - 13,637,821
Assigned
Roads Projects - - - - 97,661 97,661
Unassigned 21,044,476 - - - (707,661) 20,336,815
Total Fund Balances (Deficits)21,228,656$ 7,816,351$ 3,238,182$ 13,637,821$ 16,161,308$ 62,082,318$
Other
Nonmajor
Governmental
Funds
Disclosure of Fund Balances Reported on Balance Sheet
June 30, 2024
Community Development and
Blight Elimination
Deposits, prepaid items, and
inventory
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
P. New GASB Pronouncements GASB Statements listed below will be implemented in future financial statements:
Statement No. 101 "Compensated Absences"The provisions of this statement are effective for fiscal years beginning after December 15, 2023.
Statement No. 102 "Certain Risk Disclosures"The provisions of this statement are effective for fiscal years beginning after June 15, 2024.
Statement No. 103 "Financial Reporting Model Improvements"The provisions of this statement are effective for fiscal years beginning after June 15, 2025.
Statement No. 104 "Disclosure of Certain Capital Assets"The provisions of this statement are effective for fiscal years beginning after June 15, 2025.
Q. Deferred Outflows and Inflows of Resources
Pursuant to GASB Statement No. 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position, and GASB Statement No. 65, Items Previously Reported as Assets and Liabilities, the City recognizes deferred outflows and inflows of resources. In addition to assets, the Statement of Net Position will sometimes report a separate section for deferred outflows of resources. A deferred outflow of resources is defined as a consumption of net position by the government that is applicable to a future reporting period. The City has one item which qualifies for reporting in this category; refer to Note 9 for a detailed listing of the deferred outflows of resources the City has recognized. In addition to liabilities, the Statement of Net Position will sometimes report a separate section for deferred inflows of resources. A deferred inflow of resources is defined as an acquisition of net position by the City that is applicable to a future reporting period. The City has one item which qualifies for
reporting in this category; refer to Note 9 for a detailed listing of the deferred inflows of revenues the City recognized. R. 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 Atascadero’s California Employees’ Retirement System (CalPERS) 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. NOTE 2 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Budgetary Information
Biennial budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America for all governmental funds. After adoption of the final budget, transfers of appropriations within a general fund department, or within other funds, can be made by the City Manager or his appointee. Budget modifications between funds, and increases or decreases to a fund’s overall budget, must be approved by the City Council. Numerous
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 2 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY (continued)
A. Budgetary Information (continued)
properly authorized amendments were made during the fiscal year. Budgetary control is enhanced by integrating the budget into the general ledger accounts. Encumbrance accounting is employed (e.g., purchase orders) to avoid expenditures over budget. Encumbrances outstanding at fiscal year-end are automatically re-budgeted in the following fiscal year.
B. Deficit Fund Balance A deficit fund balance exists in the Fire Aerial Vehicle Impact Fees Fund due to large purchases incurred prior to the receipt of the long-term reimbursing revenues.
Deficit Fund
Balance
Nonmajor Governmental FundFire Aerial Vehicle Impact Fees Fund (696,056)
C. Excess of Expenditures over Appropriations Excess Expenditures
Nonmajor Governmental Funds
Supplemental Law Enforcement Services Fund (3,616)$
Expenditures exceeded projections in the Supplemental Law Enforcement Services fund due to the expenditure of unexpected interest income.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 3 – CASH AND INVESTMENTS Cash balances from all funds are combined and invested to the extent possible, pursuant to the Investment Policy and Guidelines approved by the City Council, as well as State Government Code. The earnings from these investments are allocated monthly to each fund, based on an average of monthly opening and closing balances of cash and investments. Investments are stated at fair value. Cash and investments at June 30, 2024, consisted of the following:
Pooled Cash and Investments:
Cash in bank and on hand 15,671,200$
Investments 54,688,591
Local Agency Investment Fund (LAIF)9,803,616
Total Pooled Cash and Investments 80,163,407
Funds with Fiscal Agents:
United States Treasury Money Fund 20,675,390
Total Funds with Fiscal Agents 20,675,390
Total Cash and Investments 100,838,797$
Cash and investments are reflected in the accompanying financial statements as follows:
Governmental
Activities
Business-
Type
Activities
Private-Purpose
Trust Funds TotalCash and investments 66,649,035$ 11,737,374$ 1,776,998$ 80,163,407$
Cash and investments held by fiscal agents 10,878 - 20,664,512 20,675,390
Total Cash and Investments 66,659,913$ 11,737,374$ 22,441,510$ 100,838,797$
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 3 – CASH AND INVESTMENTS (continued) A. Deposits with Financial Institutions
For custodial credit risk associated with deposits, the City follows the California Government Code, which requires California financial institutions to secure the City’s deposits by pledging government securities as collateral. The fair value of the pledged securities must equal 110% of the City’s deposits. California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes equal to 150% of the City’s deposits. At fiscal year end, the City’s bank account and bank money market fund balances totaled $17,383,037. The first $250,000 was insured by federal depository insurance and the remainder was 110% collateralized. Certificates of Deposit totaling $18,387,654 are fully insured. B. State Investment Pool The fair value of the City’s position in the State LAIF pool is the same as the value of the pool shares. The State LAIF pool credit quality is unrated. LAIF is overseen by the Local Agency Investment Advisory Board, which consists of five members, in accordance with State statute. The State Treasurer’s Office audits the fund annually. Separate financial statements for LAIF can be obtained by writing Local Agency Investment Fund, Post Office Box 942809, Sacramento, CA 94209-0001. C. Authorized Investments The City’s Investment Policy lists the following as authorized investments: Local Agency Investment Fund (LAIF) U.S. Government Obligations
California and California Local Agency Municipal Obligations Other State Municipal Obligations Supranational Securities Bankers’ Acceptances Commercial Paper Certificates of Deposit and Passbook Savings Accounts Money Market Funds
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 3 – CASH AND INVESTMENTS (continued) D. Marking Investments to Fair Value (GASB Statement No. 31)
In fiscal year 1997/98, the City adopted Governmental Accounting Standards Board Statement No. 31, which requires that the City’s investments be carried at fair value instead of cost. Under GASB Statement No. 31, the City must adjust the carrying value of its investments to reflect their fair value at each fiscal year end, and it must include the effects of these adjustments in income for that fiscal year. GASB Statement No. 31 applies to all City investments, even if held to maturity and redeemed at full face value. Since the City’s policy is to hold all investments to maturity, the fair value adjustments required by GASB Statement No. 31 result in accounting gains or losses (called “recognized” gains or losses) which do not reflect actual sales of the investments (called “realized” gains or losses). Thus, recognized gains or losses on an investment purchased at par will now reflect changes in its value at each succeeding fiscal year end, but these recognized gains or losses will net to zero if the investment is held to maturity. By following the requirements of GASB Statement No. 31, the City is reporting the amount of resources which would actually have been available
if it had been required to liquidate all of its investments at any fiscal year end.
E. Governmental Accounting Standards Board (GASB) Statement No. 72, Fair Value Measurements and Application, provides the framework for measuring fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value with Level 1 given the highest priority and Level 3 the lowest priority. The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the organization has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include the following:
1. Quoted prices for similar assets or liabilities in active markets.
2. Quoted prices for identical or similar assets or liabilities in markets that are not active. 3. Inputs other than quoted prices that are observable for the asset or liability (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). 4. Inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs). Level 3 inputs are unobservable inputs for the asset or liability.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 3 – CASH AND INVESTMENTS (continued)
Fair value of assets measured on a recurring basis at June 30, 2024, are as follows:
June 30, 2024 Fair Value
Quoted Prices in
Active Markets for
Identical Assets
(Level1)
Significant Other
Observable Inputs
(Level 2)
Uncategorized
(Level 3)
U. S. Government Obligations 25,637,013$ 4,072,550$ 21,564,463$ -$
Supranational Securities 1,968,295 - 1,968,295 -
Municipal Securities 8,695,629 - 8,695,629 -
Certificates of Deposit 18,387,654 - 18,387,654 -
54,688,591 4,072,550$ 50,616,041$ -$
Investments measured at amortized cost
Local Agency Investment Fund (LAIF)9,803,616
Total investments 64,492,207$
Fair values for investments are determined by using a matrix pricing technique. Matrix pricing is used to value securities based on the security’s relationship to benchmark quoted prices. Uncategorized investments do not fall under the fair value hierarchy as there is no active market for the investments.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 3 – CASH AND INVESTMENTS (continued)
F. Investments Investments for the City are summarized below:
Investments Fair Value
Percent of
Portfolio
U.S. Government Obligations 25,637,013$ 40%Supranational Securities 1,968,295 3%
Municipal Securities 8,695,629 13%Certificates of Deposit 18,387,654 29%
Local Agency Investment Fund (LAIF)9,803,616 15%
Total Investments Managed by City 64,492,207$ 100%
Investments Held by Fiscal Agents
United States Treasury Money Fund 20,675,390$ 100%
Total Investments Held by Fiscal Agents 20,675,390$ 100%
Fair Value On Demand
Within One
Month
One Month to
One Year
One to Five
YearsInvestmentsU.S. Government Obligations 25,637,013$ -$ -$ 3,474,562$ 22,162,451$
Supranational Securities 1,968,295 - - 986,885 981,410
Municipal Securities 8,695,629 - - 1,063,676 7,631,953 Certificates of Deposit 18,387,654 - 481,313 3,445,054 14,461,287
Local Agency Investment Fund (LAIF)9,803,616 9,803,616 - - -
Investments Held by Fiscal Agents 20,675,390 20,675,390 *- - -
Total Investments Managed by City 85,167,597$ 30,479,006$ 481,313$ 8,970,177$ 45,237,101$
Percentage of Portfolio 100%36%1%11%52%
* Held by fiscal agents for the 2024 Tax Allocation Refunding Bonds, the 2010 Lease Revenue Bonds and the 2004 Tax Allocation Bonds
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 3 – CASH AND INVESTMENTS (continued)
F. Investments (continued)
Interest Rate Risk. This is the risk that the market value of securities in the portfolio will fall, due to changes in general interest rates. In accordance with its Investment Policy, the City mitigates interest rate risk by:
· Structuring the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity.
· Investing operating funds primarily in shorter-term securities, money market mutual funds, or similar investment pool.
Credit Risk. This is the risk of loss due to the failure of the security issuer or backer. The City mitigates credit risk by:
· Limiting investments to the safest types of securities.
· Pre-qualifying the financial institutions, broker/dealers, intermediaries, and advisers with which the City will do business.
· Diversifying the investment portfolio so that potential losses on individual securities will be minimized. State law limits investments in commercial paper and corporate bonds to the top two ratings issued by Nationally Recognized Statistical Rating Organizations (NRSROs). It is the City’s policy to limit its investments in these investment types to the top rating issued by NRSROs. The City does not hold any commercial paper or corporate bonds. U. S. Government Obligations held by the City are rated AAA, the top rating issued by NRSROs. The City’s investment in the State LAIF pool is unrated, as are the investments in Certificates of Deposit.
Fair Value AAA - A Not Rated
InvestmentsU. S. Government Obligations 25,637,013$ 25,637,013$ -$ Supranational Securities 1,968,295 1,968,295 -
Municipal Securities 8,695,629 8,695,629 -
Certificates of Deposit 18,387,654 - 18,387,654 Local Agency Investment Fund (LAIF)9,803,616 - 9,803,616
Investments Held by Fiscal Agents 20,675,390 - 20,675,390
Total Investments Managed by City 85,167,597$ 36,300,937$ 48,866,660$
Rating as of June 30, 2024
Custodial Credit Risk. Custodial credit risk is the risk that in the event of failure of the counterparty, the government will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The City’s investments in government securities are held in trust by US Bank and are exposed to custodial credit risk because these investments are uninsured and collateralized with securities held by the US Bank’s trust department or agency, but not in the City’s name. The amounts held under this custodial arrangement are not limited by the City’s Investment Policy.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 3 – CASH AND INVESTMENTS (continued)
F. Investments (continued) Concentration Credit Risk. The City’s Investment Policy provides guidelines (by type of investment vehicle that limits either the dollar amount, the percent of the portfolio or the maturity term) for diversifying the investment portfolio so that potential losses on individual securities will be minimized. The City’s Investment Policy outlines the following criteria related to portfolio diversification:
· No more than thirty percent (30%) of the City’s portfolio shall be invested in California and California local agency municipal obligations, and other state municipal obligations.
· Up to forty percent (40%) of the City’s portfolio may be invested in bankers’ acceptances that are defined as bills of exchange or time drafts, drawn on and accepted by a commercial bank, which are eligible for purchase by the Federal Reserve System, although no more than thirty percent (30%) of the portfolio may be invested in bankers’ acceptances with any one commercial bank. Additionally, the maturity periods cannot exceed 180 days.
· A maximum of twenty-five percent (25%) of the City’s portfolio may be invested in highest tier (e.g., A-1, P-1, F-1 or D-1 or higher) commercial paper as rated by a nationally recognized statistical rating organization (NRSRO). Issuing corporations must be organized and operating in the United States, have $500 million total assets, and have at least an “A” rating (by a NRSRO) on debt other than commercial paper. The maturity period cannot exceed 270 days. Purchases of eligible commercial paper may not exceed 10% of the outstanding paper of an issuing
corporation.
· A maximum of thirty percent (30%) of the City’s portfolio may be deposited in certificates of deposit or passbook savings accounts. The minimum requirements for certificate of deposit investments shall be:
o Investments and accrued interest shall never exceed the FDIC insurance limit in any one institution. o Qualified institutions must have a minimum equity ratio of 6% and a minimum capitalization of $10,000,000.
· Shares of beneficial interest issued by diversified management companies that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. Sec 80a-l et seq.) shall not exceed twenty percent (20%) of the agency's surplus money that may be invested pursuant to the City’s Investment Policy.
· Up to thirty percent (30%) of the City’s portfolio may be invested in United States dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development, International Finance Corporation, or Inter-American Development Bank, with a maximum remaining maturity of five years or less, and eligible for purchase and
sale within the United States. Investments under this paragraph shall be rated in a rating category of “AA” or its equivalent or better by a nationally recognized statistical rating organization. No more than 10% of the City’s portfolio shall be invested in obligations of any one bank. G. Funds with Fiscal Agents The City had $10,878 in cash and investments as of June 30, 2024, held by fiscal agents pledged for the payment or security of the 2010 Lease Revenue Bonds. There was an additional $20,659,589 held by fiscal agents for the new 2024 Tax Allocation Bond Refunding and $4,923 held for the 2004 Redevelopment Agency Tax Allocation Bonds, both in the Successor Agency to the Community Redevelopment Agency of Atascadero Private Purpose Trust Fund. The California Government Code provides that these monies, in the absence of specific statutory provisions governing the issuance of bonds, certificates, or leases, may be invested in accordance with the ordinance, resolutions, or indentures specifying the types of investments its fiscal agents may make.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 4 – ADVANCES RECEIVABLE – SUCCESSOR AGENCY Receivable Fund Payable Fund Amount
2010 Bond Debt Service Fund Successor Agency General Fund 13,530,000$
Total 13,530,000$
Advances receivable of $13,530,000 consists of a reimbursement agreement with the City for bond debt service. In September of 2010, the City issued bonds on
behalf of the former Redevelopment Agency and entered into a reimbursement agreement at that time whereby the City advanced the former Agency the proceeds of the bond and the former Agency was required to make annual payments to the City in the amount of the debt service on the bonds. With the dissolution of redevelopment, this is now a debt of the Successor Agency and the Successor Agency will continue to make the required payments. See Note 15D – Successor Agency Trust for Assets of Former Redevelopment Agency, Bond Reimbursement Agreement Payable, for additional information. This arrangement meets the criteria of ABX1 26, Section 34171(d)(G)(2):
· Written agreement entered into: o At the time of issuance, but no later than December 31, 2010, of indebtedness obligations o Solely for the purpose of securing or repaying those indebtedness obligations.
· Section 34171(e) defines “indebtedness obligation”: bonds, notes, certificates of participation, or other evidence of indebtedness, issued or delivered by the redevelopment agency, or by a joint exercise of powers authority created by the redevelopment agency, to third-party investors or bondholders to finance or refinance redevelopment projects undertaken by the redevelopment agency in compliance with the Community Redevelopment Law.
The 2010 Lease Revenue Bonds were defeased on July 16, 2024. NOTE 5 – NOTES RECEIVABLE Notes Receivable in the amount of $4,050,899 is outstanding in the In Lieu Low/Moderate Income Housing Fund. Developments meeting certain criteria must either pay an In-Lieu fee into the fund or provide “affordably” priced homes for sale to income qualified buyers. These homes are sold by developers at prices below fair market value and the City records notes receivable against the titles in the amounts equal to the difference between the reduced sales prices and the fair market values. The loans are either paid back on a pro-rata share of equity at the time the homes sell or are forgiven after a period of 30 years of ownership by the same homeowner. The Notes Receivable amount includes loans for 22 homes in the Very Low-Income category and 8 homes in the Low/Moderate Income category.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 6 – CAPITAL ASSETS
A. Capital Assets Additions and Retirements Capital assets activity in the Governmental Activities for the fiscal year ended June 30, 2024, was as follows:
BalanceJune 30, 2023 Additions Deletions
Transfers Between Assets BalanceJune 30, 2024
Governmental Activities
Non-Depreciable capital assets
Land 41,659,554$ -$ -$ -$ 41,659,554$
Construction in progress 8,417,299 15,303,306 (43,349) (18,629,866) 5,047,390
Total non-depreciable capital assets 50,076,853 15,303,306 (43,349) (18,629,866) 46,706,944
Depreciable or amoritizable capital assets
Vehicles and equipment 15,302,806 1,664,211 (651,244) 397,972 16,713,745
Structures and improvements 56,869,387 10,386 - 756,704 57,636,477 Subscription assets 949,033 48,230 - - 997,263 Infrastructure 82,656,247 180,839 (687,226) 17,475,190 99,625,050
155,777,473 1,903,666 (1,338,470) 18,629,866 174,972,535
(58,356,198) (4,397,274) 1,243,103 - (61,510,369)
Net depreciable capital assets 97,421,275 (2,493,608) (95,367) 18,629,866 113,462,166
Net governmental capital assets 147,498,128$ 12,809,698$ (138,716)$ -$ 160,169,110$
Less accumulated depreciation or
amortization
Total depreciable or amortizable
capital assets
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 6 – CAPITAL ASSETS (continued)
A. Capital Assets Additions and Retirements (continued) Capital assets activity in the Business-Type Activities for the fiscal year ended June 30, 2024, was as follows:
Balance
June 30, 2023 Additions Deletions
Transfers
Between
Assets
Balance
June 30, 2024
Business-Type Activities
Non-depreciable capital assets
Land 547,738$ -$ -$ -$ 547,738$
Construction in progress 2,633,336 2,785,643 - (2,105,870) 3,313,109
Total non-depreciable capital assets 3,181,074 2,785,643 - (2,105,870) 3,860,847
Depreciable capital assets
Vehicles and equipment 1,375,712 3,070 - - 1,378,782 Structures and improvements 34,154,782 21,238 - 2,105,870 36,281,890
Total depreciable or amortizable
capital assets 35,530,494 24,308 - 2,105,870 37,660,672
(20,066,588) (805,131) - - (20,871,719)
Net depreciable capital assets 15,463,906 (780,823) - 2,105,870 16,788,953
Net business-type capital assets 18,644,980$ 2,004,820$ -$ -$ 20,649,800$
Less accumulated depreciation
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NOTE 6 – CAPITAL ASSETS (continued) B. Depreciation Allocations Depreciation expense was charged to functions and programs based on their usage of the related assets. The amounts allocated to each function or program were as follows:
Governmental Activities:
General government 358,984$
Public safety 965,618 Community development 237,287
Community, recreation & zoo services 394,943
Parks & open space 339,838 Public works 2,100,604
Total Depreciation and Amortization Expense- Governmental Activities 4,397,274$
Sewer 741,662$
Transit 63,469
Total Depreciation Expense- Business-Type Activities 805,131$
Business-Type Activities:
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NOTE 7 – INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS
A. Interfund Receivables and Payables
Due to/due from other funds consist of short-term interfund loans made for the purposes of cash flows. They are expected to be repaid by the borrowing fund within one year. The composition of due to/due from balances at June 30, 2024, is as follows:
Receivable Fund Payable Fund Amount
General Fund Nonmajor Community Development Block Grant Fund 51,642$
General Fund Nonmajor Community Facilities District Fund 20,022
Nonmajor Fire Facilities Fees Fund Fire Aerial Vehicle Impact Fees Fund 696,056 Total 767,720$
B. Interfund Transfers
Interfund transfers were made as follows:
Actual Amount Description
760,880$ Transfer from the Community Facilities District Fund to the General Fund for fire, police, and park services
466,850 Transfer from the General Fund to the Gas Tax Fund for the cost of Streets Department operations
4,052 Transfer from the Gas Tax Fund to the Local Transportation Fund for the Traffic Way North Project
2,600 Transfer from the General Fund to the Las Lomas Landscape & Lighting Fund for open space maintenance
1,400 Transfer from the General Fund to the De Anza Landscape & Lighting Fund for open space maintenance
52,384 Transfer from the SLESF Fund the Police Impact Fees Fund for vehicle purchase
1,288,166$
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 8 – LONG-TERM LIABILITIES
A. Compensated Absences
City employees accumulate earned but unused vacation and certain other leave pay benefits which can be converted to cash at termination of employment. In the statement of activities, the expenditure is allocated to each function based on usage. The vested benefits payable in accordance with various collective bargaining agreements at June 30, 2024, total $2,053,412 for governmental activities and $13,505 for business-type activities. B. 2010 Lease Revenue Bonds On September 1, 2010, the City of Atascadero issued $16,010,000 in Lease Revenue Bonds for the former Community Redevelopment Agency of Atascadero. The bonds were issued by the City in order to achieve an overall lower interest rate on the bonds. The bond proceeds were transferred to the former Redevelopment Agency for use on the Historic City Hall Project and other redevelopment blight elimination projects. These bonds mature between fiscal years 2015 and 2041, at interest rates ranging from 3.0% to 5.0%. The Successor Agency makes payments, from tax increment revenues, to the City in amounts equal to the annual debt service payments on the bonds. The bonds will then be repaid by the City using these revenues. The 2010 Lease Revenue Bonds were defeased on July 16, 2024.
The following is a summary of principal and interest payments to be made in future fiscal years:
Fiscal Year Ending June 30,Principal Interest
2025 $ 305,000 $ 664,581
2026 315,000 651,800 2027 330,000 637,250
2028 350,000 620,250
2029-2033 2,010,000 2,815,750 2034-2038 5,250,000 2,049,250
2039-2041 4,970,000 381,000
$ 13,530,000 $ 7,819,881
2010 Lease Revenue
Bonds
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NOTE 8 – LONG-TERM LIABILITIES (continued)
C. Changes in Long-Term Liabilities Long-term liability activity for the fiscal year ended June 30, 2024, was as follows:
Balance
June 30, 2023 Additions Payments
Balance
June 30, 2024
Due Within
One Year
Governmental Activities:
Bonds Payable:
13,825,000$ -$ (295,000)$ 13,530,000$ 305,000$
Compensated Absences 1,944,902 1,720,564 (1,612,054) 2,053,412 100,000
Premium on 2010 Lease Revenue Bonds 51,494 - (2,990) 48,504 2,982
Subscription Liability 415,756 21,876 (186,767) 250,865 119,854
(161,641) (7,755) 79,063 (90,333) -
Net Pension Liability 34,126,111 7,276,231 (4,592,846) 36,809,496 -
Other Post Employment Benefits Liability 250,936 4,745 (8,049) 247,632 -
Total Governmental Activities 50,452,558$ 9,015,661$ (6,618,643)$ $ 52,849,576 527,836$
Business-type Activities:
Compensated Absences 7,834$ 30,954$ (25,283)$ 13,505$ -$
Net Pension Liability 879,396 147,441 (95,236) 931,601 -
Total Business-type Activities $ 887,230 178,395$ $ (120,519) $ 945,106 -$
2010 Lease Revenue Bonds
Workers' Compensation estimated claims
liability in excess of deposits
D. Subscription Based Information Technology Arrangements On January 12, 2022, the City entered into an initial contract term for Computer-Aided Dispatch/Records Management System (CAD/RMS) software arrangement with Mark43, Inc.. The CAD/RMS system was implemented February 1, 2023, and has a term of six years. Accumulated depreciation for the current year was $295,567 and the outflows of resources in the current year were $119,744. On February 9, 2022, the City entered into an initial contract term for Website Software and Support Services with Planeteria Media. The website software was implemented November 1, 2023, and has a term of five years. Accumulated depreciation for the current year was $13,537 and the outflows of resources in the current year were $7,140.
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NOTE 8 – LONG-TERM LIABILITIES (continued)
D. Subscription Based Information Technology Arrangements (continued) The following is a summary of principal and interest payments to be made in future fiscal years:
Fiscal
Year Ending June 30,Principal Interest
2025 $ 112,779 $ 8,947
2026 116,209 5,577 2027 - 2,105
$ 228,988 $ 16,629
Mark43, Inc - CAD/RMS
Fiscal
Year
Ending
June 30,Principal Interest
2025 $ 7,075 $ 737
2026 7,289 524
2027 7,512 305
- 78
$ 21,876 $ 1,644
Planeteria Media - Website
The City entered into a prepaid software arrangement with CIO Solutions for Firewall Software. The initial contract term is September 25, 2021 – September 24, 2024. The total subscription asset is valued at $35,396, and $32,643 has accumulated in amortization as of the end of the fiscal year. The City entered into a prepaid software arrangement with SHI International Corp. for Malwarebytes Software. The initial contract term is July 31, 2022 – July 31, 2025. The total subscription asset is valued at $25,174, and $16,092 has accumulated in amortization as of the end of the fiscal year.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 9 – EMPLOYEE RETIREMENT BENEFITS
A. Public Employees’ Retirement System Summary of Significant Accounting Policies-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 Atascadero’s California Public Employees’ Retirement System (CalPERS) 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. Plan Descriptions All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees’ Retirement System (CalPERS.) The Plan consists of individual rate plans (benefit tiers) within a safety risk pool (police and fire) and a miscellaneous risk pool (all 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. Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The City of Atascadero sponsors six rate plans (three
miscellaneous and three safety). Benefit provisions under the Plan are established by State statute and City of Atascadero resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions, and membership information that can
be found on the CalPERS’ website at www.calpers.ca.gov. Benefits Provided CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries. Benefits are based on years of credited services, equal to a fixed percentage of their highest annual salary formula as determined by the benefit program they participate in. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits.
All members are eligible for non-duty disability benefits after 10 years of service. The death benefit is one of the following: the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost-of-living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.
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NOTE 9 – EMPLOYEE RETIREMENT BENEFITS (continued)
A. Public Employees’ Retirement System (continued) Benefits Provided (continued) The rate plan provisions and benefits in effect at June 30, 2024, are summarized as follows:
Tier 1 Tier 2 Tier 3
Hire date
Prior toJuly 1, 2012 On or afterJuly 1, 2012 On or afterJanuary 1, 2013
Benefit formula 2.5% @ 55 2.0% @ 55 2.0% @ 62
Benefit vesting schedule 5 years service 5 years service 5 years service
Benefit payments monthly for life monthly for life monthly for life
Retirement age 50-55 50-63 52-67
Monthly benefits, as a % of eligible compensation 2.0% to 2.5%1.426% to 2.418%1.0% to 2.5%
Required employee contribution rates 8.00%7.00%8.25%
Required employer contribution rates 14.92%12.63%8.00%
Miscellaneous Plan
Tier 1 Tier 2 Tier 3
Hire date
Prior toJuly 1, 2012 On or afterJuly 1, 2012 On or afterJanuary 1, 2013
Benefit formula 3.0% @ 50 3.0% @ 55 2.7% @ 57
Benefit vesting schedule 5 years service 5 years service 5 years service
Benefit payments monthly for life monthly for life monthly for life
Retirement age 50 50-55 50-57
Monthly benefits, as a % of eligible compensation 3.0%2.4% to 3.0%2.0% to 2.7%
Required employee contribution rates 9.00%9.00%13.75%
Required employer contribution rates 27.11%22.83%13.54%
Safety Plan
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NOTE 9 – EMPLOYEE RETIREMENT BENEFITS (continued) A. Public Employees’ Retirement System (continued) Contributions- Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plan is determined annually on an actuarial basis as of June 30 by 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 the employees. The City’s contributions to the Plan for the fiscal year ended June 30, 2024, were $4,627,006. 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 amount was paid at the beginning of the fiscal year. The City of Atascadero’s required contribution for the unfunded liability and side fund was $2,639,451 in fiscal year ended June 30, 2024. B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions
As of June 30, 2024, the City reported a net pension liability for its proportionate share of the net pension liability of the Plan of $37,741,097.
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, 2023, 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, 2022, rolled forward to June 30, 2023, using standard update procedures. The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plan relative to other projected contributions of all participating employers, actuarially determined. The City’s proportionate share of the net pension liability for the Plan as of measurement dates June 30, 2023, and 2022, was as follows:
June 30, 2024 June 30, 2023
Measurement Date 6/30/2023 6/30/2022
Percentage of Plan (PERF C) Net Pension Liability 0.30253%0.30306%-0.00053%
Change:Increase/(Decrease)
Percentage share of Plan
Proportionate Percentage Share of Net Pension Liability
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NOTE 9 – EMPLOYEE RETIREMENT BENEFITS (continued) B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (continued) For the fiscal year ended June 30, 2024, the City recognized pension expense of $6,414,952. At June 30, 2024, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
DeferredOutflowsof Resources
DeferredInflowsof Resources
Differences between expected and actual experience 2,413,127$ (263,476)$
Changes of assumptions 2,234,870 -
Net differences between projected and actual earnings on plan
investments 5,566,297 -
Change in employer's proportion 82,243 (93,181)
Differences between the employer's contributions and the employer's proportionate share of contributions 605,755 (648,455)
Pension contributions subsequent to measurement date 4,627,006 -
Total 15,529,298$ (1,005,112)$
All Plans
$4,627,006 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the fiscal year ended June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources
related to pensions will be recognized as pension expense as follows:
Fiscal Year Ended
June 30,
Deferred Outflows / (Inflows) of
Resources
2025 3,027,275$
2026 2,168,598
2027 4,543,913
2028 157,394
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NOTE 9 – EMPLOYEE RETIREMENT BENEFITS (continued) B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (continued) Actuarial Assumptions – For the measurement period ended June 30, 2023, the total pension liabilities were determined by rolling forward the June 30, 2022, valuation of total pension liability. The June 30, 2023, total pension liability was based on the following actuarial methods and assumptions:
Valuation Date
Measurement Date
Actuarial Assumptions:
Discount Rate
Inflation
Salary Increases
Post Retirement Benefit Increase
Mortality
6.90%
2.30%
Varies by Entry Ageand Service
Contract COLA up to 2.3% until Purchasing Power Protection Allowance Floor on
Purchasing Power Applies
Derived using CalPERS' Membership Data for
all Funds. The mortality table was developed
based on CalPERS-specific date. The rates incorporate Generational Mortality to capture
ongoing mortality improvements using 80% of
Scale MP 2020 published by the Society of
Actuaries.
Plan
June 30, 2022
June 30, 2023
For more details, please refer to the 2021 experience study report that can be found on the CalPERS’ website.
Discount Rate
The discount rate used to measure the total pension liability for PERF C was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.
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NOTE 9 – EMPLOYEE RETIREMENT BENEFITS (continued)
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (continued) Actuarial Assumptions (continued) Long-Term Expected Rate of Return
In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated and combined with risk estimates, are used to project compound (geometric) returns over the long term. The discount rate used to discount liabilities was informed by the long-term projected portfolio return. The following table reflects long-term expected real rate of return by asset class. The rates of return were calculated using the capital market assumptions applied to determine the discount rate and asset allocation.
Asset Class
Assumed Asset
Allocation 1
Real Return
Years 1-10 1,2
Global equity - cap-weighted 30.0%4.54%
Global equity non-cap-weighted 12.0%3.84%
Private equity 13.0%7.28%
Treasury 5.0%0.27%
Mortgage-backed Securities 5.0%0.50%
Investment Grade Corporates 10.0%1.56%
High Yield 5.0%2.27%
Emerging Market Debt 5.0%2.48%
Private Debt 5.0%3.57%
Real assets 15.0%3.21%
Leverage -5.0%-0.59%
Total 100.0%
(1) An expected inflation of 2.30% used for this period.
(2) Figures are based on the 2021-22 Asset Liability Management Study.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 9 – EMPLOYEE RETIREMENT BENEFITS (continued) B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (continued) Sensitivity of Proportionate Share of 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:
5.90%
(1% Decrease)
6.90%
(Current Rate)
7.90%
(1% Increase)
Measurement Date
Fiscal Year End
Net Pension Liability 55,870,591$ 37,741,097$ 22,876,132$
Discount Rate
6/30/2023
6/30/2024
Pension Plan Fiduciary Net Position Detailed information about the Plan’s fiduciary net positions is available in separately issued CalPERS’ financial reports.
C. Payable to the Pension Plan The City paid 100% of the required actuarially determined contributions for the fiscal year ending June 30, 2024, and therefore recorded no payables to the pension plan for the same period. D. Defined Contribution Plan
The City offers a defined contribution plan, Nationwide Retirement Solutions, for those employees that are excluded from CalPERS membership due to part-time or elected status. The plan is approved as a FICA substitute. Members contribute 5% and the City contributes 2.5%. Total employee contributions for the fiscal year were $16,826, and total contributions from the City were $8,413. Nationwide Retirement Solutions is the public employee plan subsidiary of Nationwide Financial Services, Inc. (NYSE: NFS).
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 10 – OTHER POST EMPLOYMENT BENEFITS
Plan Description In addition to the CalPERS pension benefits described above, the City provides post-retirement health benefits for Executive Management (City Council, City Manager, Deputy City Managers, and Department Heads). The City agreed to reimburse the retiree for retiree and/or retiree’s dependent health (medical/dental/vision) insurance premiums, disability insurance, long-term health care or life insurance premiums up to a maximum of $200 per month. The benefit is available upon retirement from CalPERS or other similar retirement program after age 50, and the employee must have served for eight years with
the City. The benefit extends between the date of retirement and age 65. Currently, there are four people that received benefits in fiscal year 2023/2024, and fifteen other people that may become eligible for benefits under this program. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75. Contributions The City accounts for this benefit on a pay-as-you-go basis. Post employment expenditures are made from the General Fund, which is maintained on the modified accrual basis of accounting. No funds are set aside to pay for benefits and administrative costs. These expenditures are paid as they come due. For fiscal year ended June 30, 2024, the City’s total contributions were $8,049.
Employees Covered
As of June 30, 2024, the following current and former employees were covered by the benefit under the plan.
Active members 13
Inactive members 2
Beneficiaries 4
Total 19
Total OPEB Liability
The City has elected to calculate the OPEB liability and related information using the alternative measurement method permitted by GASB Statement No. 75 for employers in plans with fewer than one hundred total plan members. The City’s OPEB liability was measured as of June 30, 2024, and the total OPEB used to calculate the OPEB liability was from the City’s valuation as of June 30, 2024.
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NOTE 10 – OTHER POST EMPLOYMENT BENEFITS (continued)
Changes in the OPEB Liability
Total OPEB
Liability
Balance at June 30, 2023 (valuation date June 30, 2023)250,936$
Changes recognized for the measurement period:
Service cost (2,783)
Interest 7,528
Benefit payments (8,049)
Net changes (3,304)
Balance at June 30, 2024 (valuation date June 30, 2024)247,632$ Sensitivity of the OPEB Liability to Changes in the Discount Rate The following presents the OPEB liability, as well as what the OPEB liability would be if it were calculated using a discount rate that is 1 percentage point lower (2.00%) or 1 percentage point higher (4.00%) than the current discount rate.
1% Decrease Current 1% Increase
2.00%3.00%4.00%
OPEB Liability 251,559$ 247,632$ 250,417$
Discount Rate
Sensitivity of the OPEB Liability to Changes in the Healthcare Cost Trend Rate
The following presents the OPEB liability, as well as what the OPEB liability would be if it were calculated using a healthcare cost trend rate that is 1 percentage point lower (2.00%) or 1 percentage point higher (4.00%) than the current Healthcare Trend Rate of 3.0%.
1% Decrease Current 1% Increase
2.00%3.00%4.00%
OPEB Liability 250,417$ 247,632$ 251,559$
Healthcare Trend Rate 3%
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
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NOTE 10 – OTHER POST EMPLOYMENT BENEFITS (continued)
Actuarial Methods and Assumptions Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and the plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members at that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value assets, consistent with the long-term perspective of the calculations.
The following simplifying assumptions were made: Retirement age for active employees – Based on the historical average retirement age for the covered group, public safety active plan members were assumed to retire at age 50, or at the first subsequent year in which the member would qualify for benefits and other active plan members were assumed to retire at age 55, or at the first subsequent year in which the member would qualify for benefits. Mortality – All active and inactive plan members were expected to live through age 65 (the age that benefits terminate).
Turnover – All active members were expected to remain employed until the assumed retirement/age.
Discount Rate – Based on the historical and expected returns of the City’s short-term investment portfolio, a discount rate of 3.0 percent was used. In addition, a simplified version of the projected unit credit and level cost method was used. The remaining amortization period at June 30, 2024, was twenty years. NOTE 11 – REVENUE LIMITATIONS IMPOSED BY CALIFORNIA PROPOSITION 218
Proposition 218, which was approved by voters in November 1996, regulates the City’s ability to impose, increase and extend taxes, assessments, and fees. Any new, increase, or extended taxes, assessments, and fees subject to the provisions of Proposition 218, require voter approval before they can be
implemented. Additionally, Proposition 218 provides that these taxes, assessments, and fees are subject to the voter initiative process and may be rescinded in the future years by the voters. NOTE 12 – RISK MANAGEMENT A. Description of Self-Insurance Pool Pursuant to Joint Powers Agreement
The City of Atascadero is a member of the California Joint Powers Insurance Authority (Authority). The Authority is composed of 126 California public entities and is organized under a joint powers’ agreement pursuant to California Government Code §6500 et seq. The purpose of the Authority is to arrange and administer programs for the pooling of self-insured losses, to purchase excess insurance or reinsurance, and to arrange for group purchased insurance for property and other lines of coverage. The California JPIA began covering claims of its members in 1978. Each member government has an elected official as its representative on the Board of Directors. The Board operates through a nine-member Executive Committee.
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NOTE 12 – RISK MANAGEMENT (continued)
B. Primary Self-Insurance Programs of the Authority Each member pays an annual contribution at the beginning of the coverage period. The total funding requirement for primary self-insurance programs is based on an actuarial analysis. Costs are allocated to individual agencies based on payroll and claims history, relative to other members of the risk-sharing pool.
Primary Liability Program Claims are pooled separately between police and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $100,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $100,000 to $500,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the second layer. (4) Incurred costs from $500,000 to $50 million are distributed based on the outcome of cost allocation within the first and second loss layers. The overall coverage limit for each member, including all layers of coverage, is $50 million per occurrence. Subsidence losses also have a $50 million per
occurrence limit. The coverage structure is composed of a combination of pooled self-insurance, reinsurance, and excess insurance. Additional information concerning the coverage structure is available on the Authority’s website: https://cjpia.org/coverage/risk-sharing-pools/.
Primary Workers’ Compensation Program Claims are pooled separately between public safety (police and fire) and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $75,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $75,000 to $200,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the second layer. (4) Incurred costs from $200,000 to statutory limits
are distributed based on the outcome of cost allocation within the first and second loss layers.
For 2023-24 the Authority’s pooled retention is $1 million per occurrence, with reinsurance to statutory limits under California Workers’ Compensation Law. Employer’s Liability losses are pooled among members to $1 million. Coverage from $1 million to $5 million is purchased through reinsurance policies, and Employer’s Liability losses from $5 million to $10 million are pooled among members. C. Purchased Insurance
Pollution Legal Liability Insurance The City of Atascadero participates in the pollution legal liability insurance program which is available through the Authority. The policy covers sudden and gradual pollution of scheduled property, streets, and storm drains owned by the City of Atascadero. Coverage is on a claims-made basis. There is a $250,000 deductible. The Authority has an aggregate limit of $20 million.
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NOTE 12 – RISK MANAGEMENT (continued)
C. Purchased Insurance (continued) Property Insurance The City of Atascadero participates in the all-risk property protection program of the Authority. This insurance protection is underwritten by several insurance companies. City of Atascadero property is currently insured according to a schedule of covered property submitted by the City of Atascadero to the Authority. City of Atascadero property currently has all-risk property insurance protection in the amount of $101,865,585. There is a $10,000 deductible per
occurrence except for non-emergency vehicle insurance which has a $2,500 deductible. Crime Insurance The City of Atascadero purchases crime insurance coverage in the amount of $1,000,000 with a $2,500 deductible. The fidelity coverage is provided through the Authority. Special Event Tenant User Liability Insurance The City of Atascadero further protects against liability damages by requiring tenant users of certain property to purchase low-cost tenant user liability insurance for certain activities on agency property. The insurance premium is paid by the tenant user and is paid to the City of Atascadero according to a
schedule. The City of Atascadero then pays for the insurance. The insurance is facilitated by the Authority.
D. Adequacy of Protection During the past three fiscal years, none of the above programs of protection experienced settlements or judgments that exceeded pooled or insured coverage. There were also no significant reductions in pooled or insured liability coverage in 2023-24.
E. Unemployment The City is fully self-insured for unemployment claims. F. Self Insurance
The City retains the risk for losses incurred prior to joining the Authority. Several member agencies of the now dissolved Central Coast Cities Self-Insurance
Fund continue to participate in a non-risk sharing arrangement for claims management and the purchase of excess insurance for claims prior to joining the Authority. Losses are debited and investment income is credited to specific member accounts. The City has not incurred any losses in excess of insurance coverage.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
71
NOTE 12 – RISK MANAGEMENT (continued) F. Self Insurance (continued)
Workers' Compensation
Assets on deposit 120,587$
Estimated liability for reported claims and settlement expenses (30,254)
Assets in excess of (less than) liabilities 90,333$
Workers'
Compensation
Deposits June 30, 2022 17,734$
Claim payments and related expenditures 67,260
Decrease in estimated claims liability June 30, 2023 73,814
Deposits and interest earnings 2,833
Deposits (unpaid claims liability) June 30, 2023 161,641
Claim payments and related expenditures (79,063)
Decrease in estimated claims liability June 30, 2024 3,419
Deposits and interest earnings 4,336
Deposits (unpaid claims liability) June 30, 2024 90,333$
Self-insurance activity as of and for the fiscal year ended June 30, 2024, is summarized as follows:
Changes in the balances of claim liabilities during the past two fiscal years are as follows:
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
72
NOTE 13 – CONTINGENCIES AND COMMITMENTS
The City has received state and federal funds for specific purposes that are subject to review and audit by the grantor agencies. Although such audits could generate expenditure disallowances under terms of the grants, it is believed that any required reimbursements will not be material. According to the City Attorney, there are three potentially significant issues pending. Estate of Douglas Breeze and City of Atascadero (filed January 18, 2022) SSC Case No. 34-2022-80003799
The City contracted with Regional Government Services (“RGS”) for the services of Mr. Doug Breeze for a few months in 2014. CalPERS determined that Mr. Breeze was a City employee. As a result, Mr. Breeze and the City were directed to make PERS contributions. RSG is providing the City's defense and indemnity in this matter; the City is one of several other public entities involved with CalPERS's determination. A determination by the trial court upholding CalPERS's determination is currently on appeal. Veronica Ulloa-Nevarez v. City of Atascadero (not yet filed). This is a matter regarding the California Voting Rights Act ("CVRA"). An individual alleged that the City's at-large elections violates the CVRA. No litigation is yet
filed; the matter is currently suspended in accordance with the terms of a tolling agreement between the City and claimant.
Newton v. City of Atascadero The Petitioner sued the City, claiming that the City Council violated his constitutional due process right, as well as the Atascadero Municipal Code. In April 2023, the Superior Court conducted a bench trial and ruled int the City’s favor on most of the substantive claims. The Court subsequently dismissed Petitioner’s remaining claims later in 2023. The Petitioner appealed and while briefing was underway, the parties engaged in settlement negotiations that culminated with a tentative settlement. The City Council will consider the settlement in January 2025. If the Council approves it, it would be final in January 2025 and the appeal will be dismissed.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
73
NOTE 13 – CONTINGENCIES AND COMMITMENTS (continued)
Construction and other significant commitments as of June 30, 2024, including encumbrances outstanding at fiscal year-end, are as follows:
100 General Fund 2,531,505$
201 Community Facilities District Fund 2,816
202 Apple Valley Street & Storm Drain Assessment District Fund 1,901
203 Apple Valley Landscape & Lighting Assessment District Fund 2,449
204 Las Lomas Street & Storm Drain Assessment District Fund 1,901
205 Las Lomas Landscape & Lighting Assessment District Fund 2,449
206 De Anza Street & Storm Drain Assessment District Fund 1,901
207 De Anza Landscape & Lighting Assessment District Fund 2,449
240 Community Development Block Grant Fund 2,706
265 Local Transportation Fund 11,253,381
281 Circulation System Fees Fund 277
287 Parkland Facilities Fees Fund 17,953
527 Wastewater Fund 7,642,822
529 Transit Fund 107,411
615 Building Maintenance and Replacement Fund 2,365,909
680 Vehicle and Equipment Replacement Fund 1,116,060
690 Technology Fund 35,460
Total 25,089,350$
Capital Commitments
Fiscal Year 2023/2024
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
74
NOTE 14 – NET POSITION
GASB Statement No. 63 requires that the difference between assets added to the deferred outflows of resources and liabilities added to the deferred inflows of resources be reported as net position. Net position is classified as either net investment in capital assets, restricted, or unrestricted. Net position that is net investment in capital assets consists of capital assets, net of accumulated depreciation, and reduced by the outstanding principal of related debt. Restricted net position is the portion of net position that has external constraints placed on it by creditors, grantors, contributors, laws, or regulations of other governments, or through constitutional provisions or enabling legislation. Unrestricted net position consists of net position that does not meet the definition of net
investment in capital assets or restricted net position. Net Position Net Position is the excess of all the City’s assets and deferred outflows of resources over all its liabilities and deferred inflows of resources, regardless of fund. Net Position is divided into three captions under GASB Statement No. 34. These captions apply only to Net Position, which is determined only at the government-wide level, and are described below:
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 regulations, laws, or other restrictions which the City cannot unilaterally alter. These principally include fees received for use on economic development, capital projects, debt service requirements, and redevelopment funds restricted to low- and moderate-income purposes. Restricted Net Position includes $41,550,213 restricted by enabling legislation.
Unrestricted describes the portion of Net Position which is not restricted as to use. NOTE 15 – SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY On December 29, 2011, the California Supreme Court upheld Assembly Bill 1x 26 (“the Bill”) that provides for the dissolution of all redevelopment agencies in the State of California. This action impacted the reporting entity of the City of Atascadero, which had previously reported a redevelopment agency within the reporting entity of the City as a blended component unit. The Bill provides that, upon dissolution of a redevelopment agency, either the city or another unit of local government will agree to serve as the “successor agency” to hold the assets until they are distributed to other units of state and local government. On January 10, 2012, the City Council elected to become the Successor Agency for the former redevelopment agency in accordance with the Bill as part of City Resolution Number 2012-002. After enactment of the law, which occurred on June 28, 2011, redevelopment agencies in the State of California cannot enter into new projects, obligations or commitments. Subject to the control of the oversight board, remaining assets can only be used to pay enforceable obligations in existence at the date of dissolution (including the completion of any unfinished projects that were subject to legally enforceable contractual commitments).
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
75
NOTE 15 – SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY (continued)
Successor agencies are only allocated revenue in the amount that is necessary to pay the estimated annual installment payments on enforceable obligations of the former redevelopment agency until all enforceable obligations of the prior redevelopment agency have been paid in full and all assets have been liquidated. The Bill directs the State Controller of the State of California to review the propriety of any transfers of assets between redevelopment agencies and other public bodies that occurred after January 1, 2011. If the public body that received such transfers is not contractually committed to a third party for the expenditure or encumbrance of those assets, the State Controller is required to order the available assets to be transferred to the public body designated as the successor agency
by the Bill. Management believes, in consultation with legal counsel, that the obligations of the former redevelopment agency due to the City are valid enforceable obligations payable by the successor agency trust under the requirements of the Bill. In accordance with the timeline set forth in the Bill (as modified by the California Supreme Court on December 29, 2011), all redevelopment agencies in the State of California were dissolved and ceased to operate as a legal entity as of February 1, 2012. The assets and activities of the dissolved redevelopment agency are reported in a fiduciary fund (private purpose trust fund) in the financial statements of the City. The transfer of the assets and liabilities of the former redevelopment agency as of February 1, 2012 (effectively the same date as January 31, 2012), from
governmental funds of the City to fiduciary funds, was reported in the governmental funds as an extraordinary loss in the governmental fund financial statements in fiscal year 2011-2012. The receipt of these assets and liabilities as of January 31, 2012, was reported in the private purpose trust fund as an extraordinary gain in
the fiscal year 2011-2012. The Successor Agency received a Finding of Completion (FOC) from the State Department of Finance on March 8, 2013. In order to be eligible for the FOC, the Successor Agency had to meet the following requirements:
· pay the housing fund balance as determined by Due Diligence Review;
· pay the non-housing fund balance as determined by Due Diligence Review; and
· pay the balance of any outstanding pass-through obligations and residual payments.
A. Notes Receivable The Housing Successor Agency is holding $200,000 in Notes Receivable as part of the Downtown Stimulus Program. The former Redevelopment Agency used the Downtown Stimulus Program as a tool to encourage investors to provide affordable housing in the downtown area. Neither the principal nor interest shall be payable under the Note for the term of 55 years; or until such time as the Program Participant sells or otherwise transfers the site. The Notes will be forgiven in full after the period of 55 years. B. Capital Assets The remainder of the capital assets of the Successor Agency were disposed of during fiscal year 2017-2018. No capital asset activity was recorded in the Private Purpose Trust Funds for the fiscal year ended June 30, 2024.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
76
NOTE 15 – SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY (continued)
C. Loans Payable Written-Off The City General Fund loaned three separate advances to the former Redevelopment Agency. The total of these three loans, $1,375,175, was a liability of the Successor Agency through fiscal year 2019-20. AB 1484 sets forth the criteria for repayment of these loans: · California Department of Finance must issue the Successor Agency a Finding of Completion.
· Oversight Board must find that the loans were for legitimate redevelopment purposes.
· Repayment is subject to certain restrictions, including a reduction of the interest rate to the LAIF rate, restrictions on the timing and amount of annual repayments, and a requirement that 20% of the repayment amount must be deposited into a restricted housing set-aside fund.
· Loan repayments shall not be made prior to the 2013-14 fiscal year. On September 22, 2015, Governor Brown signed Senate Bill 107, a budget bill including, among other things, a modification to Health and Safety Code Section 34191.4(b), concerning the manner in which interest on the loans is to be calculated and limitations on annual loan payment amounts:
· All outstanding interest as of the date of dissolution is to be recalculated from the date of origination of the loan as approved by the Redevelopment Agency on a quarterly basis, at a simple interest rate of 3 percent.
· The amount of property tax available to fund loan repayments is one-half of the difference between the Redevelopment Property Tax Trust Fund (RPTTF) funds available in the current fiscal year and the RPTTF payments to the affected taxing entities in fiscal year 2012-13. Loan repayment was requested on the Required Obligation Payment Schedule 2019-20. The State Department of Finance denied the request to begin repayment of the loans. These loans were written-off as uncollectable during the 2020-21 fiscal year. D. Bond Reimbursement Agreement Payable
In September of 2010, the City issued $16,010,000 in bonds on behalf of the Redevelopment Agency in order for the Agency to achieve an overall lower debt service cost. At the time of the bond issuance, a reimbursement agreement was entered into whereby the City advanced the Agency the proceeds of
the bond and the Agency is required to make annual payments to the City in the amount of the debt service on the bonds. Annual principal payments on the advance are required between fiscal years 2015 and 2041, at interest rates ranging from 3.0% to 5.0%. See Note 8B – Long Term Liabilities, 2010
Lease Revenue Bonds, for additional information. E. 2004 Redevelopment Agency Tax Allocation Bonds The former Atascadero Community Redevelopment Agency (Agency) issued $12,490,000 in Tax Allocation bonds for improvements to the downtown core. These bonds mature between fiscal years 2011 and 2035, at interest rates ranging from 3.00% to 5.00%. Since the Agency was dissolved effective February
1, 2012, the bonds are now a liability of the Successor Agency. The liability is now reflected on the private purpose trust financial statements of the Successor Agency and is no longer found on the financial statements of the City and its component unit. The bonds will be repaid with the Successor Agency’s Tax Allocation Revenues.
CITY OF ATASCADERO NOTES TO THE BASIC FINANCIAL STATEMENTS June 30, 2024
77
NOTE 15 – SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY (continued) E. 2004 Redevelopment Agency Tax Allocation Bonds (continued) The following is a summary of principal and interest payments to be made in future fiscal years:
Fiscal Year Ending
June 30,Principal Interest
2025 $ 500,000 $ 337,869 2026 525,000 312,884
2027 550,000 286,681 2028 575,000 259,259
2029-2033 3,340,000 828,374
2034-2035 1,580,000 80,000
$ 7,070,000 $ 2,105,067
2004 Redevelopment Agency
Tax Allocation Bonds
The 2004 Tax Allocation Bonds were defeased on July 16, 2024.
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - SUMMARY
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Secured and unsecured property taxes 12,571,670$ 12,571,670$ 12,833,429$ 261,759$
Taxes based on sales and use 14,941,690 14,941,690 14,643,144 (298,546)
Transient occupancy tax 2,015,800 2,015,800 2,097,167 81,367
Franchise tax 1,440,230 1,440,230 1,491,046 50,816
Other taxes 405,840 405,840 370,634 (35,206)
Licenses and permits 910,210 910,210 990,213 80,003
Intergovernmental revenues:
Motor vehicle in-lieu and related payments 31,870 31,870 38,021 6,151
Grants 642,840 686,020 335,605 (350,415)
Other governmental revenues 193,360 201,040 219,448 18,408
Charges for services:
Public safety 475,020 672,240 810,065 137,825
Development 903,150 928,860 861,217 (67,643)
Recreation, parks, pavilion, and zoo 1,211,280 1,211,280 1,236,099 24,819
Other services 108,220 108,220 135,657 27,437
Fines and forfeitures 55,750 55,750 54,320 (1,430)
Use of money and property 418,640 418,640 891,877 473,237
Other revenues 1,694,700 1,715,070 1,823,537 108,467
Total revenues 38,020,270 38,314,430 38,831,479 517,049
Expenditures:
Employee services 22,874,450 23,071,420 21,862,012 1,209,408
Operating supplies and services 9,052,670 8,842,050 8,478,618 363,432
Special purchases, projects, and community funding 6,447,170 6,860,970 3,893,096 2,967,874
Capital outlay 6,815,020 7,090,280 4,845,762 2,244,518
Total expenditures 45,189,310 45,864,720 39,079,488 6,785,232
Excess of revenues over (under) expenditures (7,169,040) (7,550,290) (248,009) 7,302,281
Budget Variance with Final
Budget Positive
(Negative)
78
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - SUMMARY (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Other Financing Sources (Uses):
Transfers in 760,880$ 760,880$ 760,880$ -$
Transfers out (684,000) (684,000) (470,850) 213,150
Total other financing sources and uses 76,880 76,880 290,030 213,150
(7,092,160)$ (7,473,410)$ 42,021 7,515,431$
Fund balance - June 30, 2023 21,186,635
Fund balance - June 30, 2024 21,228,656$
Excess of revenue and other sources over
(under) expenditures and other uses
Budget Variance with Final
Budget Positive
(Negative)
79
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Taxes:
Property taxes:
Secured property tax 7,835,220$ 7,835,220$ 7,889,113$ 53,893$
Property tax in lieu of VLF 3,661,780 3,661,780 3,731,574 69,794
Unsecured property taxes 287,850 287,850 315,039 27,189
Supplemental property taxes 231,400 231,400 237,264 5,864
566,220 566,220 681,243 115,023
Prior year secured and unsecured (10,000) (10,000) (21,003) (11,003)
Property tax penalties and interest (800) (800) 199 999
Taxes based on sales:
Sales and use taxes 5,221,860 5,221,860 4,887,550 (334,310)
Measure D-20 sales tax 6,464,900 6,464,900 6,507,108 42,208
Measure F-14 sales tax 3,254,930 3,254,930 3,248,486 (6,444)
Transient occupancy tax 2,015,800 2,015,800 2,097,167 81,367
Franchise taxes:
Cable television franchise fees 257,550 257,550 227,602 (29,948)
Electricity franchise fees 372,600 372,600 346,837 (25,763)
Garbage disposal franchise fees 565,600 565,600 651,922 86,322
Landfill franchise fees 18,790 18,790 19,749 959
Gas franchise fees 131,200 131,200 148,858 17,658
Wastewater franchise fees 94,490 94,490 96,078 1,588
Business licenses 179,780 179,780 179,869 89
Property transfer tax 172,000 172,000 137,477 (34,523)
Cannabis business tax 54,060 54,060 53,288 (772)
Total Taxes 31,375,230 31,375,230 31,435,420 60,190
Licenses and Permits:
Construction permits 801,670 801,670 817,781 16,111
Grading and drainage permits 39,490 39,490 25,258 (14,232)
Encroachment permits 63,190 63,190 143,202 80,012
Tree application fees 4,560 4,560 2,763 (1,797)
Planning inspections 1,300 1,300 1,209 (91)
Total Licenses and Permits 910,210 910,210 990,213 80,003
Budget Variance with Final
Budget Positive
(Negative)
Redevelopment Agency dissolution-
residual distribution
80
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues (continued):
Intergovernmental Revenues:
Motor vehicle in-lieu 31,870$ 31,870$ 38,021$ 6,151$
Homeowners' tax relief 45,460 45,460 44,137 (1,323)
State mandated costs 10,000 10,000 29,711 19,711
P.O.S.T. reimbursement 12,400 20,080 20,104 24
School Resources Officer 80,000 80,000 80,000 -
45,500 45,500 45,496 (4)
Grants:
Fire Safe Council- 2024 Fuel Management - 38,120 38,112 (8)
Fire Safe Council- 2023 Wildfire Consultations - 4,100 8,130 4,030
- 960 959 (1)
15,000 15,000 3,198 (11,802)
HCD- Housing Element & Inclusionary Policy 14,250 14,250 14,250 -
HCD- LEAP Mixed Use Develop Standards 119,460 119,460 119,451 (9)
HCD- REAP Jurisdictional Zoning Grant 16,130 16,130 16,139 9
FEMA Administration- January 2023 Storms 300,000 300,000 - (300,000)
2018 Parks Bond Act- Lake Park Pier 178,000 178,000 135,366 (42,634)
Total Intergovernmental Revenues 868,070 918,930 593,074 (325,856)
Budget Variance with Final
Budget Positive
(Negative)
Settlement agreement- SB 1090 Essential
Services Mitigation Funds (PG&E DCPP)
Board of State and Community
Corrections- Police Grant 2016/17
Board of State and Community
Corrections- Police Grant 2022/23
81
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues (continued):
Charges for Services:
Public safety:
First response charges 136,640$ 136,640$ 138,997$ 2,357$
Weed abatement services 50,000 58,360 58,356 (4)
Mutual Aid- Fire 250,000 438,860 531,214 92,354
Mutual Aid- Police - - 37,311 37,311
Police/Fire false alarms 2,200 2,200 7,140 4,940
Castlerock Communication Site Lease 16,740 16,740 14,448 (2,292)
Fingerprints 1,120 1,120 2,753 1,633
Vehicle release fees 13,260 13,260 15,800 2,540
Other public safety services 5,060 5,060 4,046 (1,014)
Development:
Zoning fees 48,240 48,240 98,371 50,131
Subdivision fees- Planning 51,600 51,600 27,820 (23,780)
Subdivision fees- Public Works 29,540 29,540 10,101 (19,439)
General and specific plans - - 7,573 7,573
Appeals 1,290 1,290 8,584 7,294
Planning review 63,190 63,190 60,225 (2,965)
Building plan check fees 473,890 473,890 392,569 (81,321)
Public Works plan check fees and inspections 110,570 110,570 70,779 (39,791)
Stormwater permit compliance inspection 2,130 2,130 - (2,130)
Fire plan check and inspection fees 115,700 141,410 157,998 16,588
Other development fees 7,000 7,000 27,197 20,197
Recreation:
Advertising 3,370 3,370 7,688 4,318
Recreation Sponsorship - - 1,600 1,600
Adult sports 25,750 25,750 25,926 176
Youth sports 72,100 72,100 76,949 4,849
Classes 112,560 112,560 130,171 17,611
Special events- promotions 43,000 43,000 38,680 (4,320)
Special events 46,000 46,000 47,666 1,666
Teen Center membership 5,200 5,200 5,432 232
Budget Variance with Final
Budget Positive
(Negative)
82
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues (continued):
Charges for Services (continued):
Rentals and concessions:
Pavilion facility rentals 124,750$ 124,750$ 144,502$ 19,752$
Other Pavilion rents and concessions 6,770 6,770 2 (6,768)
Colony Park Community Center rentals 31,310 31,310 18,386 (12,924)
Zoo Event Center rental 860 860 2,200 1,340
Outdoor court rentals 200 200 2,126 1,926
Other facility rentals - - 211 211
Park charges 50,410 50,410 53,674 3,264
Zoo:
Zoo admissions 450,000 450,000 449,544 (456)
Zoo educational programs 20,000 20,000 41,349 21,349
Zoo gift shop 179,000 179,000 157,939 (21,061)
Special events- Zoo 40,000 40,000 32,054 (7,946)
Administrative:
Copy and mailing fees 6,260 6,260 12,036 5,776
Filming permit - - 750 750
Document imaging fee - - 974 974
Technology surcharge 59,240 59,240 81,220 21,980
Business license application fees 42,720 42,720 40,677 (2,043)
Total Charges for Services 2,697,670 2,920,600 3,043,038 122,438
Fines and Forfeitures:
Motor vehicle fines 29,580 29,580 17,245 (12,335)
Traffic school fines - - 1,594 1,594
Misdemeanor and other minor fines 2,120 2,120 1,365 (755)
Parking fines 820 820 470 (350)
Code enforcement and fire fines 810 810 900 90
Transient Occupancy Tax Penalties 10,000 10,000 11,252 1,252
Business license penalties 12,120 12,120 20,652 8,532
Other penalties 300 300 842 542
Total Fines and Forfeitures 55,750 55,750 54,320 (1,430)
Variance with Final
Budget Positive
(Negative)
Budget
83
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues (continued):
Use of Money and Property:
Interest 295,580$ 295,580$ 418,295$ 122,715$
Adjustment to fair value- GASB 31 - - 278,946 278,946
Lease Revenue- 2010 Bonds 38,000 38,000 - (38,000)
Interest on Measure F-14 Funds 85,060 85,060 119,590 34,530
Measure F-14 Funds adjustment to fair value - - 75,046 75,046
Total Use of Money and Property 418,640 418,640 891,877 473,237
Other Revenues:
Interfund administrative charges
General overhead charges 561,520 561,520 561,520 -
Staffing charges for other funds 698,840 698,840 688,241 (10,599)
Staffing charges for capital projects 281,780 281,780 230,838 (50,942)
Staffing charges for CDBG administration 9,780 9,780 8,444 (1,336)
Administrative charges- Third Parties 6,150 6,150 6,377 227
Administrative charges- Successor Agency 49,490 49,490 47,340 (2,150)
- - 75,000 75,000
Workers' compensation reimbursement 5,000 5,000 30,335 25,335
Miscellaneous revenue 32,640 34,280 74,434 40,154
Donations:
Recreation - 11,720 11,714 (6)
Zoo 1,500 1,500 31 (1,469)
Friends of Zoo Donations:
Memberships 48,000 48,000 47,743 (257)
Freezer - 7,010 41,520 34,510
Total Other Revenues 1,694,700 1,715,070 1,823,537 108,467
Total Revenues 38,020,270 38,314,430 38,831,479 517,049
Variance with Final
Budget Positive
(Negative)
Budget
Administrative charges- Successor Agency
Bond Issue
84
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures:
City Council:
Salaries and benefits 77,930$ 80,270$ 80,265$ 5$
Office expense 200 200 174 26
Advertising 850 640 - 640
Computer maintenance and replacement 9,230 9,230 9,230 -
Occupancy 87,660 87,660 87,660 -
Communications 450 450 195 255
Operating supplies 4,030 1,900 1,814 86
Vehicle and equipment operating costs 640 640 535 105
Contract services 39,490 39,490 36,000 3,490
Professional development 25,950 34,320 22,809 11,511
Community outreach 55,730 55,730 43,608 12,122
LAFCO contribution 20,560 20,560 18,666 1,894
Special projects and community funding:
Sales Tax Measure Renewal Process 60,000 60,000 - 60,000
Essentialism Evaluation 60,000 60,000 - 60,000
Total City Council 442,720 451,090 300,956 150,134
City Clerk:
Office expense 690 690 75 615
Advertising 5,740 5,740 3,152 2,588
Contract services 6,470 6,470 6,276 194
Professional development 6,770 6,770 4,460 2,310
Municipal election 320 320 (1,247) 1,567
Capital projects:
Software-Agenda & Meetings Management 29,800 29,800 18,875 10,925
Total City Clerk 49,790 49,790 31,591 18,199
City Treasurer:
Salaries and benefits 5,710 5,900 5,888 12
Contract services 13,530 14,190 14,182 8
Professional development 2,500 1,650 - 1,650
Total City Treasurer 21,740 21,740 20,070 1,670
Budget Variance with Final
Budget Positive
(Negative)
85
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
City Attorney:
Office expense 80$ 180$ 179$ 1$
Occupancy 6,350 6,350 6,350 -
Communications 80 40 35 5
Contract services 308,390 194,980 194,971 9
Special projects and community funding:
Special legal costs - 162,980 162,967 13
Total City Attorney 314,900 364,530 364,502 28
City Manager:
Salaries and benefits 1,814,180 1,444,600 1,216,508 228,092
Office expense 8,130 8,130 8,085 45
Computer maintenance and replacement 86,920 87,050 84,239 2,811
Insurance 25,840 25,840 21,125 4,715
Occupancy 52,000 52,000 52,000 -
Communications 1,980 2,020 2,017 3
Operating supplies 11,240 19,220 18,680 540
Vehicle and equipment operating costs 3,970 5,510 5,491 19
Contract services 166,330 125,580 47,381 78,199
Professional development 24,470 35,630 31,217 4,413
Citywide training 7,560 7,560 1,077 6,483
Recruitment 530 530 364 166
Employee development 4,080 39,070 36,173 2,897
Contingency 100,000 42,870 - 42,870
Special projects and community funding:
Desks - 190 187 3
Tables - 190 180 10
Lockers & cabinets - 190 188 2
Other office funiture - 350 344 6
Television - 430 429 1
City Hall breakroom equipment - 2,780 2,778 2
Grant assessement and writing 35,000 35,000 - 35,000
Opportunities fund 100,000 54,000 - 54,000
Budget Variance with Final
Budget Positive
(Negative)
86
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
City Manager (continued):
Capital Outlay:
Tablet computers -$ 3,000$ 3,000$ -$
Total City Manager 2,442,230 1,991,740 1,531,463 460,277
Administrative Services:
Salaries and benefits 1,017,110 1,100,330 1,027,041 73,289
Office expense 15,760 13,720 13,714 6
Advertising 520 400 391 9
Computer maintenance and replacement 103,360 103,360 103,349 11
Insurance 49,060 41,270 21,943 19,327
Occupancy 81,960 81,960 81,936 24
Communications 1,060 1,060 642 418
Operating supplies 310 270 43 227
Vehicle and equipment operating costs 3,600 3,640 3,640 -
Contract services 204,530 204,410 201,057 3,353
Professional development 7,590 7,590 6,243 1,347
Recruitment 400 520 517 3
Contingency 5,000 5,000 - 5,000
Special purchases, projects, and studies:-
Office tables and furniture 4,000 4,000 - 4,000
Capital Outlay:
Credit card acceptance program 13,650 13,650 1,448 12,202
Total Administrative Services 1,507,910 1,581,180 1,461,964 119,216
Variance with Final
Budget Positive
(Negative)
Budget
87
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
Police:
Salaries and benefits 9,090,890$ 9,112,160$ 8,452,930$ 659,230$
Office expense 17,100 23,100 23,094 6
Computer maintenance and replacement 771,710 628,990 628,981 9
Insurance 290,470 355,880 355,875 5
Occupancy 61,090 72,060 72,053 7
Utilities 54,500 68,190 68,190 -
Communications 31,450 33,830 33,822 8
Operating supplies 29,440 44,460 44,452 8
Vehicle and equipment operating costs 577,850 583,640 583,640 -
Contract services 781,850 733,020 733,019 1
Professional development 36,700 34,170 32,930 1,240
Recruitment 13,450 52,190 52,182 8
Contingency 10,000 10,000 - 10,000
Special purchases, projects, and studies:
HVAC units - 4,750 4,750 -
Water heater - 780 780 -
- 119,750 119,744 6
Capital Outlay:
Tablet computers - 1,340 1,339 1
36,000 36,000 - 36,000
Radio console replacement 203,000 203,000 186,632 16,368
Replace radios 57,000 57,000 55,077 1,923
12,062,500 12,174,310 11,449,490 724,820
Variance with Final
Budget Positive
(Negative)
911 recording system- replacement
Capital transfer to Technology Fund for
Mark43 annual maintenance
Budget
88
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
Police Grants:
Operating supplies 3,620$ 4,890$ 1,888$ 3,002$
Contract services 1,500 1,850 1,845 5
Professional development 41,380 48,400 45,702 2,698
46,500 55,140 49,435 5,705
Total Police 12,109,000 12,229,450 11,498,925 730,525
Fire:
Salaries and benefits 5,141,380 5,163,120 5,163,098 22
Office expense 3,750 4,830 4,825 5
Computer maintenance and replacement 274,320 254,320 254,312 8
Insurance 125,440 104,360 104,351 9
Occupancy 87,310 82,910 82,906 4
Utilities 33,500 38,110 38,106 4
Communications 11,600 12,030 12,021 9
Operating supplies 74,400 57,180 57,172 8
662,560 660,290 660,285 5
Contract services 41,280 45,920 45,912 8
Professional development 23,450 23,550 23,543 7
Recruitment 3,500 3,030 3,025 5
Contingency 10,000 3,900 - 3,900
Special purchases, projects, and studies:
Bed/mattresses - 2,670 2,667 3
Wildland protective gear 18,900 18,900 10,061 8,839
74,400 74,400 74,400 -
Budget Variance with Final
Budget Positive
(Negative)
Vehicle and equipment operating costs
Cash contribution to Vehicle and
Equipment Replacement Fund for
turnouts
89
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
Fire (continued):
Special purchases, projects, and studies (continued):
1,500,000$ 1,500,000$ 1,500,000$ -$
Capital outlay:
69,150 69,150 69,113 37
6,000 6,740 6,734 6
8,160,940 8,125,410 8,112,531 12,879
Mutual Aid Program:
Salaries and benefits 142,520 329,060 329,058 2
Operating supplies 15,000 22,820 22,820 -
Vehicle and equipment operating costs 5,500 - - -
163,020 351,880 351,878 2
Weed Abatement and Other Fire Programs:
Salaries and benefits - 2,240 2,009 231
Office expense 3,800 6,170 4,665 1,505
Advertising - 2,340 2,335 5
Operating supplies - 90 86 4
Contract services 103,360 182,430 154,499 27,931
107,160 193,270 163,594 29,676
Total Fire 8,431,120 8,670,560 8,628,003 42,557
Community Development:
Salaries and benefits 1,683,020 1,769,860 1,769,840 20
Office expense 14,530 23,850 23,842 8
Advertising 5,000 4,710 4,707 3
Computer maintenance and replacement 179,380 156,600 156,597 3
Insurance 35,060 28,660 28,655 5
Occupancy 91,660 91,660 91,660 -
Communications 3,800 5,430 5,421 9
Operating supplies 1,150 1,410 1,408 2
Vehicle and equipment operating costs 16,800 19,000 18,999 1
Budget Variance with Final
Budget Positive
(Negative)
Automated external defibrillators
Cash contribution to Building Maintenance
Fund for Fire Station #1 replacement
Replace radios
90
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
Community Development (continued):
Contract services 90,000$ 136,370$ 136,365$ 5$
Professional development 19,400 18,040 18,039 1
Recruitment 850 2,500 2,494 6
Contingency 5,000 1,710 - 1,710
Special purchases, projects, and studies:
Television - 790 783 7
Electronic plan review equipment 4,500 4,500 - 4,500
General plan update 870,640 870,640 370,633 500,007
Housing Element and Inclusionary Policy 14,250 14,250 14,250 -
LEAP mixed use development standards 119,460 119,460 91,462 27,998
16,130 19,750 19,746 4
Total Community Development 3,170,630 3,289,190 2,754,901 534,289
Central Reception:
Salaries and benefits 84,030 91,680 91,659 21
Office expense 900 620 616 4
Computer maintenance and replacement 19,170 19,170 19,170 -
Insurance 2,880 2,360 2,357 3
Occupancy 70,140 70,140 70,140 -
Communications 190 300 299 1
Operating supplies 50 - - -
Professional development 410 - - -
Recruitment 250 420 420 -
Total Central Reception 178,020 184,690 184,661 29
Economic and Business Development:
Salaries and benefits 182,050 182,830 182,690 140
Advertising - 250 247 3
Computer maintenance and replacement 10,870 10,870 10,870 -
Insurance 5,880 4,850 4,817 33
Occupancy 4,430 4,430 4,430 -
Operating supplies - 130 129 1
Contract services 10,000 9,870 488 9,382
Professional development 3,500 3,500 - 3,500
Chamber of Commerce 134,780 134,780 133,747 1,033
Business development 12,500 12,500 2,500 10,000
REAP jurisdictional zoning/subdivision
ordinance update
Budget Variance with Final
Budget Positive
(Negative)
91
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
Economic and Business Development (continued):
Special purchases, projects, and studies:
Economic Development- downtown 374,380$ 374,380$ -$ 374,380$
Broadband enhancement project 1,388,110 1,388,110 89,950 1,298,160
Restaurant development loan program 900,000 900,000 513,435 386,565
Total Economic and Business Development 3,026,500 3,026,500 943,303 2,083,197
Community Services:
Salaries and benefits - 158,360 158,346 14
Office expense 11,740 3,670 3,657 13
Advertising 50,350 68,170 68,163 7
Computer maintenance and replacement 5,400 5,400 5,400 -
Insurance 4,700 3,850 3,846 4
Occupancy 8,120 8,120 8,120 -
Communications 720 - - -
Operating supplies 53,340 49,360 49,354 6
Vehicle and equipment operating costs 700 1,910 1,896 14
Contract services 112,060 120,540 120,536 4
Professional development 930 560 551 9
Special purchases, projects and studies:
Desks - 100 100 -
Ranger house upgrades - 12,040 12,040 -
Total Community Services 248,060 432,080 432,009 71
Recreation:
Salaries and benefits 424,160 384,700 349,091 35,609
Office expense 4,760 8,980 8,854 126
Advertising 25,900 27,060 26,957 103
Computer maintenance and replacement 30,060 30,060 30,060 -
Insurance 25,680 24,610 24,268 342
Occupancy 53,290 53,220 52,705 515
Utilities 4,450 4,880 4,871 9
Communications 3,060 2,340 745 1,595
Operating supplies 37,370 33,570 33,550 20
Vehicle and equipment operating costs 5,000 4,980 4,225 755
Contract services 154,390 143,320 141,434 1,886
Professional development 5,190 5,700 5,691 9
Recruitment 850 1,440 1,436 4
Contingency 2,500 2,500 - 2,500
Variance with Final
Budget Positive
(Negative)
Budget
92
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
Recreation (continued):
Special purchases, projects and studies:
Youth scholarships -$ 11,320$ 11,319$ 1$
Total Recreation 776,660 738,680 695,206 43,474
Community Center:
Salaries and benefits 11,300 44,700 44,689 11
Office expense 1,280 900 895 5
Advertising 280 - - -
Computer maintenance and replacement 11,470 11,470 11,470 -
Insurance 20,050 16,520 16,518 2
Occupancy 136,660 136,660 136,660 -
Utilities 61,030 73,770 73,763 7
Communications 2,580 3,200 3,195 5
Operating supplies 14,610 6,440 6,434 6
Vehicle and equipment operating costs 700 1,200 1,193 7
Contract services 20,150 17,680 17,670 10
Recruitment 150 - - -
Special purchases, projects and studies:
Roofing projects - 2,900 2,900 -
Total Community Center 280,260 315,440 315,387 53
Pavilion:
Salaries and benefits 217,380 211,920 204,291 7,629
Office expense 1,180 530 530 -
Advertising 4,800 4,570 4,562 8
Computer maintenance and replacement 16,360 16,360 16,360 -
Insurance 12,370 10,180 10,174 6
Occupancy 67,990 67,990 67,990 -
Utilities 37,000 30,510 30,503 7
Communications 3,550 3,730 3,727 3
Operating supplies 8,270 5,580 5,571 9
Vehicle and equipment operating costs 2,600 230 223 7
Contract services 24,830 24,060 24,057 3
Professional development 100 - - -
Recruitment 300 820 812 8
Budget Variance with Final
Budget Positive
(Negative)
93
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
Pavilion continued):
Special purchases, projects, and studies:
Tables 11,020$ 11,020$ -$ 11,020$
Termite repairs - 14,690 14,688 2
Minor building projects 40,000 40,000 - 40,000
Door projects 1,390 1,390 - 1,390
Window blinds 28,000 28,000 - 28,000
Capital outlay:
Stage - 5,560 5,561 (1)
Total Pavilion 477,140 477,140 389,049 88,091
Zoo:
Salaries and benefits 941,640 947,750 914,201 33,549
Office expense 1,920 5,230 5,154 76
Advertising 200 - - -
Computer maintenance and replacement 59,600 56,520 56,515 5
Insurance 34,220 28,060 28,056 4
Occupancy 42,180 42,330 42,328 2
Utilities 84,300 89,470 89,464 6
Communications 1,780 3,400 3,397 3
Operating supplies 147,480 140,470 140,207 263
Vehicle and equipment operating costs 8,200 8,730 8,727 3
Contract services 87,400 86,310 86,300 10
Professional development 16,040 22,950 22,946 4
Recruitment 100 2,450 2,450 -
Gift shop retail 69,870 64,720 55,161 9,559
Budget Variance with Final
Budget Positive
(Negative)
94
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
Zoo (continued):
Special purchases, projects, and studies:
Desks -$ 100$ 100$ -$
Other office furniture - 310 306 4
Wireless networks 12,000 13,590 13,589 1
Animal acquisition - 650 645 5
Flooring projects - 320 314 6
Zoo accreditation 20,000 325,000 10,760 314,240
Capital outlay:
Freezer 77,900 84,910 84,906 4
HVAC units - 4,830 4,825 5
Zoo exhibit improvements 300,000 300,000 - 300,000
Zoo electrical upgrade 51,900 51,900 22,730 29,170
Software 14,500 14,500 1,923 12,577
Total Zoo 1,971,230 2,294,500 1,595,004 699,496
Public Works Administration:
Salaries and benefits 1,250,640 1,250,640 1,110,677 139,963
Office expense 5,650 7,990 7,984 6
Advertising 260 260 - 260
Computer maintenance and replacement 107,180 91,650 84,641 7,009
Insurance 23,700 23,700 19,374 4,326
Occupancy 39,380 39,380 39,380 -
Communications 2,850 2,850 2,239 611
Operating supplies 19,120 19,090 15,775 3,315
Vehicle and equipment operating costs 13,580 13,610 13,607 3
Contract services 27,200 40,390 40,382 8
Professional development 16,820 16,600 14,693 1,907
Recruitment 680 900 899 1
Contingency 7,000 7,000 - 7,000
Special purchases, projects, and studies:
Lake dam inundation mapping study 4,040 4,040 - 4,040
City engineering standards 25,000 25,000 - 25,000
Primary benchmark survey 40,000 40,000 - 40,000
Total Public Works Administration 1,583,100 1,583,100 1,349,651 233,449
Variance with Final
Budget Positive
(Negative)
Budget
95
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
Public Works Operations:
Salaries and benefits 285,480$ 286,270$ 285,589$ 681$
Office expense 2,470 1,460 1,457 3
Computer maintenance and replacement 18,770 18,770 18,770 -
Insurance 12,620 10,360 10,359 1
Occupancy 27,790 30,810 30,801 9
Utilities 12,720 12,060 11,313 747
Communications 1,150 1,270 1,269 1
Operating supplies 6,700 6,700 4,049 2,651
Vehicle and equipment operating costs 9,260 8,930 8,504 426
Contract services 500 830 827 3
Professional development 1,330 1,120 201 919
Recruitment - 230 227 3
Special purchases, projects, and studies:
Radio equipment 21,400 21,400 - 21,400
Corp yard building remodel 9,550 9,550 - 9,550
Downtown street tree renewal program 9,380 9,380 3,399 5,981
Capital Outlay:
Radio repeater project 10,180 10,180 - 10,180
Total Public Works Operations 429,300 429,320 376,765 52,555
Parks:
Salaries and benefits 505,030 505,030 474,142 30,888
Office expense - 30 22 8
Computer maintenance and replacement 11,570 11,570 11,570 -
Insurance 24,910 24,880 20,420 4,460
Occupancy 36,230 36,230 36,230 -
Utilities 226,300 209,860 194,171 15,689
Communications 2,000 2,000 1,188 812
Operating supplies 74,040 74,040 69,177 4,863
Vehicle and equipment operating costs 54,760 62,110 62,109 1
Contract services 158,950 108,950 108,350 600
Professional development 3,000 3,000 1,783 1,217
Recruitment 650 650 115 535
Special purchases, projects, and studies:
Benches 540 540 - 540
Parks repair and replacement 418,000 165,220 5,189 160,031
Budget Variance with Final
Budget Positive
(Negative)
96
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Expenditures (continued):
Parks (continued):
Special purchases, projects, and studies (continued):
Tree trimming and replacement 1,080$ 1,080$ -$ 1,080$
- 55,000 39,710 15,290
Lake pipeline repair - 9,090 9,083 7
Capital outlay:
80,000 80,000 - 80,000
40,000 40,000 18,144 21,856
354,770 354,770 746 354,024
- 252,780 252,772 8
Total Parks 1,991,830 1,996,830 1,304,921 691,909
Measure F-14 Sales Tax:
Capital outlay:
2022 Pavement Rehabilitation (West)240 240 235 5
2023 Pavement Rehabilitation (North)3,715,040 3,865,040 3,659,149 205,891
2024 Pavement Resurfacing (North/Central)400,000 400,000 5,754 394,246
2024 Pavement Rehabilitation (East/Central)1,248,890 1,098,890 443,951 654,939
2025 Pavement Resurfacing (South/Central)25,000 25,000 - 25,000
2025 Pavement Rehabilitation (South)50,000 50,000 2,848 47,152
Total Measure F-14 Sales Tax 5,439,170 5,439,170 4,111,937 1,327,233
Non-Departmental:
Special purchases, projects, and studies:
2023 Storms- Facility repairs - - 13,960 (13,960)
2023 Storms- Creeks - - 453,648 (453,648)
2023 Storms- Paloma Park repairs - - 55,612 (55,612)
66,000 66,000 66,000 -
200,000 200,000 200,000 -
Slurry seal and stripe parking lots
Lake Park pier and ADA improvements
Cash contribution to Technology Fund for
conference room technology upgrades
Cash contribution to Building Maintenance
and Replacement Fund for fund balance
Turf mower
Utility cart
Pine Mountain slope stabilization project
Budget Variance with Final
Budget Positive
(Negative)
97
CITY OF ATASCADERO
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - DETAIL (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Non-Departmental (continued):
Capital outlay:
Copiers 32,000$ 32,000$ -$ 32,000$
Total Non-Departmental 298,000 298,000 789,220 (491,220)
Total expenditures 45,189,310 45,864,720 39,079,488 6,785,232
Excess of revenues over (under)
expenditures (7,169,040) (7,550,290) (248,009) 7,302,281
Other Financing Sources (Uses):
760,880 760,880 760,880 -
(680,000) (680,000) (466,850) 213,150
(2,600) (2,600) (2,600) -
(1,400) (1,400) (1,400) -
Total other financing sources and uses 76,880 76,880 290,030 213,150
(7,092,160)$ (7,473,410)$ 42,021 7,515,431$
Fund balance - June 30, 2023 21,186,635
Fund balance - June 30, 2024 21,228,656$
Net change in fund balance
Transfer to Las Lomas Landscape and Lighting
District for open space maintenance
Transfer to De Anza Landscape and Lighting
District for open space maintenance
Transfer to Gas Tax Fund for streets maintenance
Transfer from Community Facilities District Fund
Budget Variance with Final
Budget Positive
(Negative)
98
CITY OF ATASCADERO
LOCAL TRANSPORTATION FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Local Transportation Tax- Article 3 Bike Paths 28,500$ 28,500$ 37,594$ 9,094$
Local Transportation Tax- Article 8 Streets 1,177,800 1,177,800 1,117,843 (59,957)
HBRR Grant- Via Avenue Bridge 4,762,690 4,762,690 2,647,103 (2,115,587)
HBRR Grant- Santa Lucia Bridge 5,017,770 5,017,770 3,279,509 (1,738,261)
FHWA- Del Rio Bridge Abutment Repairs - 1,270 1,261 (9)
FHWA- San Marcos Road Landslide Repair - 678,870 822,264 143,394
USHA- Santa Lucia Rd Rehabilitation Segments B & C 250,000 250,000 27,907 (222,093)
3,000,000 3,000,000 1,029,602 (1,970,398)
OES 2023 Storms- Culverts - - 14,680 14,680
FEMA 2023 Storms- Culverts - - 58,722 58,722
Investment income (loss)246,130 246,130 481,002 234,872
Total revenues 14,482,890 15,163,030 9,517,487 (5,645,543)
Expenditures:
Special projects:
Pavement Crack Sealing Preservation Program 50,000 50,000 - 50,000
Citywide Pavement Condition Evaluation Update 60,000 60,000 43,982 16,018
30,000 30,000 - 30,000
Bridge Maintenance and Repair 75,000 75,000 - 75,000
Commercial Node Concept Plans and Analysis 30,000 30,000 8,417 21,583
Capital outlay:
Downtown Infrastructure Enhancement Plan 4,292,100 4,292,100 1,029,602 3,262,498
San Anselmo Road Rehabilitation-West 50,000 50,000 - 50,000
San Marcos Road Embankment Subsidence Repair 250,000 250,000 - 250,000
Traffic Way Rehabilitation - North 800,000 800,000 4,052 795,948
Santa Lucia Road Rehabilitation Segments B & C 500,000 500,000 27,907 472,093
Downtown District Pavement Rehabilitation 1,791,150 2,198,810 1,911,908 286,902
San Marcos Road Landslide Repair - 822,270 822,264 6
11800 San Marcos Road Landslide Project - - 34,456 (34,456)
Storm Drainage Improvement Projects 125,000 125,000 - 125,000
Culvert Replacement Program 100,000 100,000 45,505 54,495
Via Avenue Bridge Replacement 5,376,170 5,376,170 2,981,637 2,394,533
Santa Lucia Road Bridge Replacement 5,017,770 5,017,770 3,278,009 1,739,761
Del Rio Road Bridge Abutment Repairs - 1,270 1,261 9
Budget Variance with Final
Budget Positive
(Negative)
Bridge Evaluations and Studies
State Legislative Grant- Downtown Infrastructure
Enhancement Plan
99
CITY OF ATASCADERO
LOCAL TRANSPORTATION FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Capital outlay (continued):
Storms- Old Morro Road Repairs -$ -$ 61,747$ (61,747)$
Storms- February 2024 Storms Road Repairs - - 8,789 (8,789)
Total expenditures 18,547,190 19,778,390 10,259,536 9,518,854
Excess of revenues over (under) expenditures (4,064,300) (4,615,360) (742,049) 3,873,311
Other Financing Sources (Uses):
800,000 800,000 4,052 (795,948)
250,000 250,000 - (250,000)
Total other financing sources (uses)1,050,000 1,050,000 4,052 (1,045,948)
Net change in fund balance (3,014,300)$ (3,565,360)$ (737,997) 2,827,363$
Fund balance, June 30, 2023 8,554,348
Fund balance, June 30, 2024 7,816,351$
Transfer from Gas Tax Fund for Santa Lucia Road
Rehabilitation Segments B & C (SB1)
Budget Variance with Final
Budget Positive
(Negative)
Transfer from Gas Tax Fund for Traffic Way
Rehabilitation Project North (SB1)
100
CITY OF ATASCADERO
CIRCULATION SYSTEM FEES FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Impact fees 440,000$ 440,000$ 264,886$ (175,114)$
Interest income 130,400 130,400 210,809 80,409
Total revenues 570,400 570,400 475,695 (94,705)
Expenditures:
Capital outlay:
101 @ Del Rio Interchange Project 812,760 812,760 9,079 803,681
Total expenditures 812,760 812,760 9,079 803,681
Net change in fund balance (242,360)$ (242,360)$ 466,616 708,976$
Fund balance, June 30, 2023 2,771,566
Fund balance, June 30, 2024 3,238,182$
Budget Variance with Final
Budget Positive
(Negative)
101
CITY OF ATASCADERO
SCHEDULE OF CHANGES IN THE OPEB LIABILITY AND RELATED RATIOS
Last 10 Years*
For the Fiscal Year Ended June 30, 2024
The following table provides required supplementary information regarding the City's postemployment healthcare benefits.
2024 2023 2022 2021 2020 2019 2018
Total OPEB Liability
Service cost (2,783)$ 14,653$ 10,981$ 8,079$ 9,582$ 13,252$ 7,820$
Interest on total OPEB liability 7,528 7,009 6,699 6,464 6,190 5,763 5,583
Benefit payments (8,049) (4,346) (7,357) (6,726) (6,610) (4,800) (7,400)
Net change in total OPEB liability (3,304) 17,316 10,323 7,817 9,162 14,215 6,003
OPEB liability, beginning of year 250,936 233,620 223,297 215,480 206,318 192,103 186,100
OPEB liability, end of year 247,632$ 250,936$ 233,620$ 223,297$ 215,480$ 206,318$ 192,103$
Covered payroll 1,716,549$ 1,354,325$ 1,173,780$ 1,200,858$ 1,200,858$ 1,200,858$ 1,126,865$
Total OPEB liability as a percentage of covered payroll 14.43%18.53%19.90%18.59%17.94%17.18%17.05%
Notes to Schedule:
There were no changes in assumptions reflected above.
* Fiscal year 2018 was the first year of implementation, therefore, only seven years are shown.
Measurement Period
102
CITY OF ATASCADERO
SCHEDULE OF OPEB CONTRIBUTIONS
Last 10 Years
As of June 30, 2024
As of June 30,2024,the plan is not administered through a qualified trust.Therefore,there is no Actuarially Determined Contribution (ADC).Benefit payments of $8,049 were
made on a pay-as-you-go basis for the fiscal year ended June 30,2024.Benefit payments of $4,346 were made on a pay-as-you-go basis for the fiscal year ended June 30,2023.
Benefit payments of $7,357 were made on a pay-as-you-go basis for the fiscal year ended June 30,2022.Benefit payments of $6,726 were made on a pay-as-you-go basis for
the fiscal year ended June 30,2021.Benefits payments of $6,610 were made on a pay-as-you-go basis for the fiscal year ended June 30,2020.Benefit payments of $4,800 were
made on a pay-as-you-go basis for the fiscal year ended June 30,2019.Benefit payments of $7,400 were made on a pay-as-you-go basis for the fiscal year ended June 30,
2018.
103
CITY OF ATASCADERO
SCHEDULE OF THE LOCAL GOVERNMENT'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
Cost-Sharing Multiple-Employer Defined Pension Plan - Last 10 Years
As of June 30, 2024
6/30/2024 6/30/2023 6/30/2022 6/30/2021 6/30/2020
Measurement Date 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019
City's proportion of the net pension liability 0.302530%0.303060%0.346860%0.281480%0.277520%
37,741,097$ 35,005,507$ 18,759,199$ 30,626,061$ 28,437,309$
City's covered payroll *12,476,406$ 11,164,515$ 9,943,967$ 10,024,682$ 9,541,259$
305.50%313.54%188.65%305.51%298.05%
52,441,984,274$ 49,525,975,138$ 46,174,942,264$ 43,702,930,887$ 41,426,453,489$
39,966,633,692$ 37,975,170,163$ 40,766,653,876$ 32,822,501,335$ 31,179,414,067$
76.21%76.68%88.29%75.10%75.26%
Measurement Date 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015
City's proportion of the net pension liability 6/30/2018 6/30/2017 6/30/2016 6/30/2015 6/30/2014
0.275210%0.270324%0.272255%0.278260%0.260250%
City's covered payroll *26,519,899$ 26,808,749$ 23,558,492$ 19,099,492$ 16,193,941$
9,337,993$ 10,102,742$ 8,658,607$ 8,348,164$ 8,181,272$
284.00%265.36%272.08%228.79%197.94%
38,944,855,364$ 37,161,348,332$ 33,358,627,624$ 31,771,217,402$ 30,829,966,631$
29,308,589,559$ 27,244,095,376$ 24,705,532,291$ 24,907,305,871$ 24,607,502,515$
75.26%73.31%74.06%78.40%79.82%
* For the year ending on the measurement date.
City's proportionate share of the net pension
liability as percentage of covered payroll
Plan's total pension liability
Plan's fiduciary net position
Plan's fiduciary net position as a percentage
of the plan's total pension liability
City's proportionate share of the net pension
liability
City's proportionate share of the net pension
liability as percentage of covered payroll
Plan's total pension liability
City's proportionate share of the net pension
liability
Plan's fiduciary net position
Plan's fiduciary net position as a percentage
of the plan's total pension liability
Fiscal Year End
104
CITY OF ATASCADERO
SCHEDULE OF PENSION CONTRIBUTIONS
Cost-Sharing Multiple-Employer Defined Pension Plan - Last 10 Years
As of June 30, 2024
Contributions for the fiscal year ending:6/30/2024 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015
4,627,006$ 4,688,082$ 4,236,582$ 3,742,162$ 3,366,536$ 2,982,660$ 2,685,953$ 2,489,485$ 2,255,947$ 2,227,093$
(4,627,006) (4,688,082) (4,236,582) (3,742,162) (3,366,536) (2,982,660) (2,685,953) (2,489,485) (2,255,947) (2,227,093)
Contribution deficiency (excess)-$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Covered payroll *13,193,268$ 12,476,406$ 11,164,515$ 9,943,967$ 10,024,682$ 9,541,259$ 9,337,993$ 10,102,742$ 8,658,607$ 8,348,164$
35.07%37.58%37.95%37.63%33.58%31.26%28.76%24.64%26.05%26.68%
Notes to Schedule
Valuation Date 06/30/21 06/30/20 06/30/19 06/30/18 06/30/17 06/30/16 06/30/15 06/30/14 06/30/13 06/30/12
Methods and assumptions used to determine contribution rates:
Actuarial cost method
Asset valuation method
Amortization method
Discount rate 6.900%6.900%7.150%7.150%7.150%7.375%7.650%7.650%7.500%7.500%
Price inflation 2.30%2.30%2.50%2.50%2.50%2.50%2.75%2.75%2.75%2.75%
Salary increases
Mortality
Post retirement benefit
* For the fiscal year ending on the date shown.
Derived using CalPERS' Membership data for all funds
Contract COLA up to 2.30% until
Purchasing Power Protection Allowance
Floor on Purchasing Power applies
2.30% thereafter Contract COLA up to 2.50% until Purchasing Power Protection Allowance Floor on Purchasing Power applies
Varies by entry age and service
Contractually required contribution
(actuarially determined)
Contributions in relation to the actuarially
determined contributions
Contributions as a percentage of covered
payroll
Entry age
5-year smoothed market
Level percentage of payroll, closed
105
OTHER SUPPLEMENTARY INFORMATION
CITY OF ATASCADERO
2010 BOND DEBT SERVICE FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Interest income 36,100$ 36,100$ 373$ (35,727)$
Interest income- cash with fiscal agency - - 68,734 68,734
645,760 645,760 682,919 37,159
Total revenues 681,860 681,860 752,026 70,166
Expenditures:
Insurance 4,200 4,200 4,032 168
Contract services 2,600 2,600 1,925 675
Principal 295,000 295,000 295,000 -
Interest 676,960 676,960 676,963 (3)
Special projects:
- 1,416,910 1,416,910 -
Total expenditures 978,760 2,395,670 2,394,830 840
Net change in fund balance (296,900)$ (1,713,810)$ (1,642,804) 71,006$
Fund balance, June 30, 2023 15,280,625
Fund balance, June 30, 2024 13,637,821$
Budget Variance with Final
Budget Positive
(Negative)
Interest income- 2010 reimbursement agreement with
the Successor Agency to the RDA
Transfer out to Successor Agency of Atascadero
2024 Tax Allocation Refunding Bonds - Cash with
Fiscal Agent Escrow Account
106
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS OVERVIEW
SPECIAL REVENUE FUNDS
The City has established the following special revenue funds in order to account for the proceeds from revenue sources that are restricted to
expenditures for specified purposes:
Supplemental Law Enforcement Services Fund
This fund is used for Supplemental Law Enforcement Services grant monies received and to account for the allowed expenditures of these funds.
In Lieu Low/Moderate Income Housing Fund
This fund accounts for fees that are paid by developers in lieu of building inclusionary (affordable) housing. These fees are expended on programs that provide
and/or promote affordable housing within the City.
Downtown Business Improvement Area Fund
The City established a Downtown Business Improvement Area (BIA)in 1986 for the purpose of acquisition,construction,and/or maintenance of parking facilities,
decoration of public places,promotion of public events,and the general promotion of business activities in the downtown area.An annual assessment is placed on
all businesses in the downtown area,and this fund accounts for the revenues and expenses associated with these BIA monies.The assessment was reduced to
$0.00 in 2010 at the behest of downtown landlords as part of a program to encourage downtown business.In January 2018,the Atascadero Colony District
Committee requested that the assessment be reinstituted. The assessment was reinstituted effective January 2019.
Atascadero Tourism Business Improvement District Fund
The City established the Atascadero Tourism Business Improvement District (ATBID)effective June 1,2013,for the purpose of funding tourism promotion and
increasing stays at the lodging businesses in Atascadero.A two percent (2%)assessment is placed on the nightly rent of all occupied rooms or spaces for all
transient occupancies in Atascadero.
Community Development Block Grant Fund
This fund is used for Community Development Block Grant monies received from the federal government.These funds must be used for low or moderate income
projects,or to eliminate blight in the community.The City receives an annual allocation from the federal government,based on the number of qualified persons in
the City. The City holds an annual hearing to determine how this money is to be spent.
Tree Plant Fund
This fund accounts for Tree Mitigation Fees and the expenditure thereof.A fee may be paid by a developer in lieu of planting a tree on improved property.These
funds are then used for the preservation and planting of the City's native trees.
Gas Tax Fund
This fund accounts for gas tax monies received from the State, which are expended to maintain various streets within the City.
Street Assessment Fund
This fund accounts for assessments collected to maintain various streets within the City.
107
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS OVERVIEW (continued)
SPECIAL REVENUE FUNDS (continued)
General Government Facilities Fees Fund
General Facilities are those limited to office or work buildings and equipment used by City staff to undertake their daily duties.As the City increases in both
population and new businesses,City Hall and the City maintenance yard will increasingly become overcrowded with growing staff.New facilities and equipment are
necessary to extend the current level of service to these new residents and businesses.Because the need for these new facilities and additional equipment is
directly related to new construction,a General Government Facilities Fee is charged on all new development.These fees are deposited into this fund and then
used for expanded/new facilities and equipment as listed in the Atascadero Master Facilities Plan, updated February 2006.
Storm Drainage Facilities Fees Fund
As vacant land is developed and bare dirt or turf is replaced with impervious rooftop,parking lots,driveways,pools and sidewalks,water runoff increases;the
cumulative effects of this additional runoff is managed by constructing the appropriate capital facilities.Because the need for these capital facilities is directly
related to new construction,a Storm Drainage Facilities Fee is charged on all new development.These fees are deposited into this fund and then used for the
construction of the new/increased/improved capital facilities as listed in the Atascadero Master Facilities Plan, updated February 2006.
Law Enforcement Facilities Fees Fund
Residents and businesses benefit from both direct (response to a call for service)and indirect (crime prevention programs,patrol,etc.)law enforcement services.
The addition of new residential units and new businesses necessarily increase the demand upon the law enforcement service level by creating more direct calls for
service,more area requiring preventive patrol,and in general,more opportunities for crimes to be committed.If law enforcement capabilities are not expanded,
then the increasing number of calls for service will reduce the amount of time available for preventive patrol.Because the need for additional police officers,as well
as the need for these officers to be equipped and housed,is directly related to new construction,a Law Enforcement Facilities Fee is charged on all new
development.These fees are deposited into this fund and then used for the purchase/construction of equipment/stations for these additional officers as listed in
the Atascadero Master Facilities Plan, updated February 2006.
Fire Facilities Fees Fund
In addition to providing fire prevention programs,the Fire Department responds to calls for fire and medical services from two existing fire stations.Each new
residential and business development creates more calls for service,increasing the likelihood of simultaneous (and thus competing)calls for service.Additionally,
as development spreads further from the existing stations,response times will necessarily increase,taking the existing engine companies out of service for greater
periods of time.These developments create the need for additional facilities and equipment.Because the need for these new facilities and additional equipment is
directly related to new construction,a Fire Facilities Fee is charged on all new development.These fees are deposited into this fund and then used for the
relocation/construction of fire stations, as well as the purchase of additional equipment, as listed in the Atascadero Master Facilities Plan, updated February 2006.
Open Space Acquisition Fees Fund
Future residential development, by increasing the City's population, will by definition impact the City's available land and decrease open space. Without open space
acquisition,the City's remaining available land will be developed and the City will lose much of its historic charm that is so valuable to residents.Because the need
for land acquisition is directly related to new construction,an Open Space Acquisition Fee is charged on all new development.These fees are deposited into this
fund and then used for land acquisitions as listed in the Atascadero Master Facilities Plan, updated February 2006.
108
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS OVERVIEW (continued)
SPECIAL REVENUE FUNDS (continued)
Parkland Facilities Fees Fund
Residential development,by increasing the City's population,necessarily impacts the City's park system.Without future parkland and continued development of
currently owned,but underutilized parkland,the City's parks become overcrowded and overused with the ultimate result becoming a negative experience for park
users.Because the need for new facilities and land acquisitions is directly related to new construction,a Parkland Facilities Fee is charged on all new
development.These fees are deposited into this fund and then used for expanded/new facilities and land acquisitions as listed in the Atascadero Master Facilities
Plan, updated February 2006.
Public Facilities Fees Fund
The City currently has existing community use facilities,such as the Pavilion on the Lake and the Colony Park Community Center.Future additional residential
units will increase the City's population,placing ever greater demands on existing community use facilities,and new or expanded community center space will be
necessary to extend the current level of service to new residents.Because the need for these new facilities is directly related to new construction,a Public
Facilities Fee is charged on all new residential development.These fees are deposited into this fund and then used for expanded/new community use facilities as
listed in the Atascadero Master Facilities Plan, updated February 2006.
Library Expansion Facilities Fees Fund
The County Public Library System currently owns and maintains a library facility within the City limits.While the City is not the library service provider,the City's
residents and businesses have an interest in maintaining the library service levels.Additional development within the City will increase the demand for a larger
sized library and for more volumes within the library.Because the need for expanded library services is directly related to new construction,a Library Facilities Fee
is charged on all new development.These fees are deposited into this fund and then are used for the expansion of the amount of library facility space and the
expansion of the library collection as listed in the Atascadero Master Facilities Plan,updated February 2006.In December 2010,the County purchased a new
library facility at 6555 Capistrano Avenue.The City contributed a total of $315,180 toward the library expansion during the period spanning December 2010
through June 2014. This amount was a combination of impact fees and other funds that had been set aside for library expansion.
Fire Aerial Vehicle Impact Fees Fund
This fund accounts for impact fees imposed on commercial and multi-family residential developments for the purpose of contributing toward the purchase of the
Aerial Fire Truck (Ladder Truck). The City purchased this truck in fiscal year 2007-2008 using future revenues.
Community Facilities District Fund
This fund is used to account for fees assessed in the Community Facilities District.This district was established in 2005 in order to provide funding for expansion
of police,fire,and parks services as the City's population increases.Developments that must obtain Planning Commission approval are subject to annexation into
the city-wide district.
Apple Valley Street & Storm Drain Assessment District Fund
This fund is used to account for fees assessed in a development known as The Colony at Apple Valley.This assessment district was established in 2005 in order
to maintain the street and storm drain related improvements in the development.
109
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS OVERVIEW (continued)
SPECIAL REVENUE FUNDS (continued) AND CAPITAL PROJECTS FUNDS
Apple Valley Landscape & Lighting Assessment District Fund
This fund is used to account for fees assessed in a development known as The Colony at Apple Valley.This assessment district was established in 2005 in order
to maintain the landscape and lighting related improvements in the development.
Las Lomas Street & Storm Drain Assessment District Fund
This fund is used to account for fees assessed in a development known as Las Lomas.This assessment district was established in 2005 in order to maintain the
street and storm drain related improvements in the development.
Las Lomas Landscape & Lighting Assessment District Fund
This fund is used to account for fees assessed in a development known as Las Lomas.This assessment district was established in 2005 in order to maintain the
landscape and lighting related improvements in the development.
De Anza Street & Storm Drain Assessment District Fund
This fund is used to account for fees assessed in a development known as De Anza Estates.This assessment district was established in 2005 in order to
maintain the street and storm drain related improvements in the development.
De Anza Landscape & Lighting Assessment District Fund
This fund is used to account for fees assessed in a development known as De Anza Estates.This assessment district was established in 2005 in order to
maintain the landscape and lighting related improvements in the development.
The City has established the following capital projects funds in order to account for expenditures for specific capital project purposes:
Capital Projects Fund
This fund is typically used to account for the financial resources used in the construction or acquisition of major capital facilities or equipment obtained by special
funding such as grants or dedicated reimbursements. It is also used as a type of clearinghouse for projects with many different sources of funding.
2010 Bond Proceeds Master Agreement Fund
On September 1,2010,the City issued $16,010,000 in lease revenue bonds to be used for various redevelopment public improvement projects within the
downtown area.As part of June 2011 state legislation,all redevelopment agencies throughout the State were dissolved.At that time,the Redevelopment Agency
was in the process of expending the 2010 bond proceeds in accordance with the bond covenants which require the funds to be spent on the Historic City Hall
Rehabilitation Project with the remaining funds to be spent on other eligible redevelopment projects.The Historic City Hall Rehabilitation Project has been
completed,leaving remaining 2010 bond proceeds.In accordance with redevelopment dissolution law,in August of 2014,the City and the Successor Agency
entered into a Master Agreement,transferring all remaining bond proceeds to the City to be spent on projects for which the bonds were originally sold.This fund
accounts for the expenditure of those 2010 bond funds transferred to the City under the Master Agreement.
110
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
June 30, 2024
Special Revenue Funds
Supplemental
Law Enforcement
Services Fund
In Lieu Low /
Moderate Income
Housing Fund
Downtown
Business
Improvement
Area Fund
Atascadero
Tourism
Business
Improvement
District Fund
Community
Development
Block Grant
Fund Tree Plant Fund
ASSETS
Cash and investments 219,355$ 1,795,957$ 15,836$ 655,896$ -$ 200,562$
Receivables:
Federal distributions due - - - - 51,396 -
Due from State of California - - - - - -
Due from County of San Luis Obispo - - - - - -
Accrued interest 1,565 10,674 93 3,856 - 1,203
Other receivables - - - 119,922 363 -
Due from other funds - - - - - -
Prepaid items 17,002 - - - - -
Notes receivable - 4,050,899 - - - -
Total assets 237,922$ 5,857,530$ 15,929$ 779,674$ 51,759$ 201,765$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 5,044$ -$ -$ 28,002$ 117$ 350$
Accrued salaries and benefits 3,029 - - - - -
Due to other funds - - - - 51,642 -
Unearned revenue 224,452 - - 99 - -
Total liabilities 232,525 - - 28,101 51,759 350
Fund Balances:
Nonspendable 17,002 - - - - -
Restricted - 5,857,530 15,929 751,573 - 201,415
Assigned for road projects - - - - - -
Unassigned (11,605) - - - - -
Total fund balances (deficits)5,397 5,857,530 15,929 751,573 - 201,415
Total liabilities and fund balances 237,922$ 5,857,530$ 15,929$ 779,674$ 51,759$ 201,765$
111
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET (continued)
June 30, 2024
Special Revenue Funds
Gas Tax Fund
Street
Assessment
Fund
General
Government
Facilities Fees
Fund
Storm Drainage
Facilities Fees
Fund
Law
Enforcement
Facilities Fees
Fund
Fire Facilities
Fees Fund
ASSETS
Cash and investments 1,629,287$ 91,862$ 341,866$ 635,437$ 302,399$ 894,796$
Receivables:
Federal distributions due - - - - - -
Due from State of California 213,272 - - - - -
Due from County of San Luis Obispo - 11 - - - -
Accrued interest 9,097 543 2,022 3,761 1,595 5,297
Other receivables - - - - - -
Due from other funds - - - - - 696,056
Prepaid items 2,980 - - - - -
Notes receivable - - - - - -
Total assets 1,854,636$ 92,416$ 343,888$ 639,198$ 303,994$ 1,596,149$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 136,097$ -$ 526$ -$ 25,986$ 37$
Accrued salaries and benefits 20,875 - - - - -
Due to other funds - - - - - -
Unearned revenue - - - - - -
Total liabilities 156,972 - 526 - 25,986 37
Fund Balances:
Nonspendable 2,980 - - - - -
Restricted 1,694,684 92,416 343,362 639,198 278,008 1,596,112
Assigned for road projects - - - - - -
Unassigned - - - - - -
Total fund balances (deficits)1,697,664 92,416 343,362 639,198 278,008 1,596,112
Total liabilities and fund balances 1,854,636$ 92,416$ 343,888$ 639,198$ 303,994$ 1,596,149$
112
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET (continued)
June 30, 2024
Special Revenue Funds
Open Space
Acquisition Fees
Fund
Parkland
Facilities Fees
Fund
Public Facilities
Fees Fund
Library
Expansion
Facilities Fees
Fund
Fire Aerial
Vehicle Impact
Fees Fund
Community
Facilities District
Fund
ASSETS
Cash and investments 1,115,633$ 946,161$ 192,262$ 346,666$ -$ -$
Receivables:
Federal distributions due - - - - - -
Due from State of California - - - - - -
Due from County of San Luis Obispo - - - - - 57,664
Accrued interest 6,602 5,588 1,135 2,052 - -
Other receivables - - - - - -
Due from other funds - - - - - -
Prepaid items - - - - - -
Notes receivable - - - - - -
Total assets 1,122,235$ 951,749$ 193,397$ 348,718$ -$ 57,664$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable -$ -$ -$ -$ -$ -$
Accrued salaries and benefits - - - - - -
Due to other funds - - - - 696,056 20,022
Unearned revenue - - - - - -
Total liabilities - - - - 696,056 20,022
Fund Balances:
Nonspendable - - - - - -
Restricted 1,122,235 951,749 193,397 348,718 - 37,642
Assigned for road projects - - - - - -
Unassigned - - - - (696,056) -
Total fund balances (deficits)1,122,235 951,749 193,397 348,718 (696,056) 37,642
Total liabilities and fund balances 1,122,235$ 951,749$ 193,397$ 348,718$ -$ 57,664$
113
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET (continued)
June 30, 2024
Special Revenue Funds
Apple Valley
Street & Storm
Drain
Assessment
District Fund
Apple Valley
Landscape &
Lighting
Assessment
District Fund
Las Lomas Street
& Storm Drain
Assessment
District Fund
Las Lomas
Landscape &
Lighting
Assessment
District Fund
De Anza Street
& Storm Drain
Assessment
District Fund
De Anza
Landscape &
Lighting
Assessment
District Fund
ASSETS
Cash and investments 604,760$ 203,671$ 783,428$ 215,338$ 571,951$ 123,128$
Receivables:
Federal distributions due - - - - - -
Due from State of California - - - - - -
Due from County of San Luis Obispo 276 451 968 725 216 158
Accrued interest 3,557 1,211 4,572 1,277 3,369 757
Other receivables - - - - - -
Due from other funds - - - - - -
Prepaid items - - - - - -
Notes receivable - - - - - -
Total assets 608,593$ 205,333$ 788,968$ 217,340$ 575,536$ 124,043$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable -$ 3,475$ -$ 15,797$ -$ 644$
Accrued salaries and benefits - - - - - -
Due to other funds - - - - - -
Unearned revenue - 17,770 - - - -
Total liabilities - 21,245 - 15,797 - 644
Fund Balances:
Nonspendable - - - - - -
Restricted 608,593 184,088 788,968 201,543 575,536 123,399
Assigned for road projects - - - - - -
Unassigned - - - - - -
Total fund balances (deficits)608,593 184,088 788,968 201,543 575,536 123,399
Total liabilities and fund balances 608,593$ 205,333$ 788,968$ 217,340$ 575,536$ 124,043$
114
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET (continued)
June 30, 2024
Capital Projects
Fund
2010 Bond
Proceeds Master
Agreement Fund TOTALS
ASSETS
Cash and investments 237,332$ 4,131$ 12,127,714$
Receivables:
Federal distributions due - - 51,396
Due from State of California - - 213,272
Due from County of San Luis Obispo - - 60,469
Accrued interest 1,405 24 71,255
Other receivables - - 120,285
Due from other funds - - 696,056
Prepaid items - - 19,982
Notes receivable - - 4,050,899
Total assets 238,737$ 4,155$ 17,411,328$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable -$ -$ 216,075$
Accrued salaries and benefits - - 23,904
Due to other funds - - 767,720
Unearned revenue - - 242,321
Total liabilities - - 1,250,020
Fund Balances:
Nonspendable - - 19,982
Restricted 141,076 4,155 16,751,326
Assigned for road projects 97,661 - 97,661
Unassigned - - (707,661)
Total fund balances (deficits)238,737 4,155 16,161,308
Total liabilities and fund balances 238,737$ 4,155$ 17,411,328$
Capital Projects Funds
115
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
For the Fiscal Year Ended June 30, 2024
Supplemental
Law Enforcement
Services Fund
In Lieu Low /
Moderate Income
Housing Fund
Downtown
Business
Improvement
Area Fund
Atascadero
Tourism
Business
Improvement
District Fund
Community
Development
Block Grant
Fund Tree Plant Fund
Revenues:
Taxes and assessments -$ -$ 14,734$ 419,591$ -$ -$
Licenses and permits - - - - - 22,380
Intergovernmental revenues 167,599 - - - 12,279 -
Fines and forfeitures - - - 657 - -
Use of money and property 12,483 92,508 588 30,735 - 10,537
Other revenues - - - - - -
Total revenues 180,082 92,508 15,322 450,983 12,279 32,917
Expenditures:
Salaries and benefits 63,827 - - - - -
Supplies and services 48,167 75,520 13,500 367,832 9,110 31,150
Special projects and studies 5,148 - - - - -
Capital outlay 3,230 - - - 3,169 -
Total expenditures 120,372 75,520 13,500 367,832 12,279 31,150
Excess of revenues over
(under) expenditures 59,710 16,988 1,822 83,151 - 1,767
Other Financing Sources (Uses):
Transfers in - - - - - -
Transfers out (52,384) - - - - -
Total other financing
sources (uses)(52,384) - - - - -
Net change in fund balances 7,326 16,988 1,822 83,151 - 1,767
Fund balances (deficits), June 30, 2023 (1,929) 5,840,542 14,107 668,422 - 199,648
Fund balances (deficits), June 30, 2024 5,397$ 5,857,530$ 15,929$ 751,573$ -$ 201,415$
Special Revenue Funds
116
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (continued)
For the Fiscal Year Ended June 30, 2024
Gas Tax Fund
Street
Assessment
Fund
General
Government
Facilities Fees
Fund
Storm Drainage
Facilities Fees
Fund
Law
Enforcement
Facilities Fees
Fund
Fire Facilities
Fees Fund
Revenues:
Taxes and assessments -$ 2,160$ -$ -$ -$ -$
Licenses and permits - - 34,716 38,578 22,122 32,422
Intergovernmental revenues 1,662,491 - - - - -
Fines and forfeitures - - - - - -
Use of money and property 40,425 4,543 15,365 29,720 16,735 42,671
Other revenues 1,455 - - - - -
Total revenues 1,704,371 6,703 50,081 68,298 38,857 75,093
Expenditures:
Salaries and benefits 458,525 - - - - -
Supplies and services 881,335 - - - - -
Special projects and studies - 2,244 - - - -
Capital outlay 12,327 - 855 - 165,484 -
Total expenditures 1,352,187 2,244 855 - 165,484 -
Excess of revenues over
(under) expenditures 352,184 4,459 49,226 68,298 (126,627) 75,093
Other Financing Sources (Uses):
Transfers in 466,850 - - - 52,384 -
Transfers out (4,052) - - - - -
Total other financing
sources (uses)462,798 - - - 52,384 -
Net change in fund balances 814,982 4,459 49,226 68,298 (74,243) 75,093
Fund balances (deficits), June 30, 2023 882,682 87,957 294,136 570,900 352,251 1,521,019
Fund balances (deficits), June 30, 2024 1,697,664$ 92,416$ 343,362$ 639,198$ 278,008$ 1,596,112$
Special Revenue Funds
117
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (continued)
For the Fiscal Year Ended June 30, 2024
Open Space
Acquisition Fees
Fund
Parkland
Facilities Fees
Fund
Public Facilities
Fees Fund
Library
Expansion
Facilities Fees
Fund
Fire Aerial
Vehicle Impact
Fees Fund
Community
Facilities District
Fund
Revenues:
Taxes and assessments -$ -$ -$ -$ 4,350$ 804,105$
Licenses and permits 51,624 148,572 32,883 18,800 - -
Intergovernmental revenues - - - - - -
Fines and forfeitures - - - - - -
Use of money and property 52,879 44,669 8,027 16,319 - -
Other revenues - - - - - -
Total revenues 104,503 193,241 40,910 35,119 4,350 804,105
Expenditures:
Salaries and benefits - - - - - -
Supplies and services - - - - - 5,583
Special projects and studies - 3,773 - - - -
Capital outlay - - - - - -
Total expenditures - 3,773 - - - 5,583
Excess of revenues over
(under) expenditures 104,503 189,468 40,910 35,119 4,350 798,522
Other Financing Sources (Uses):
Transfers in - - - - - -
Transfers out - - - - - (760,880)
Total other financing
sources (uses)- - - - - (760,880)
Net change in fund balances 104,503 189,468 40,910 35,119 4,350 37,642
Fund balances (deficits), June 30, 2023 1,017,732 762,281 152,487 313,599 (700,406) -
Fund balances (deficits), June 30, 2024 1,122,235$ 951,749$ 193,397$ 348,718$ (696,056)$ 37,642$
Special Revenue Funds
118
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (continued)
For the Fiscal Year Ended June 30, 2024
Apple Valley
Street & Storm
Drain
Assessment
District Fund
Apple Valley
Landscape &
Lighting
Assessment
District Fund
Las Lomas Street
& Storm Drain
Assessment
District Fund
Las Lomas
Landscape &
Lighting
Assessment
District Fund
De Anza Street
& Storm Drain
Assessment
District Fund
De Anza
Landscape &
Lighting
Assessment
District Fund
Revenues:
Taxes and assessments 38,500$ 63,000$ 99,189$ 74,160$ 30,561$ 15,874$
Licenses and permits - 11,000 - - - -
Intergovernmental revenues - - - - - -
Fines and forfeitures - - - - - -
Use of money and property 28,198 10,841 33,857 10,044 26,957 6,642
Other revenues - - - - - -
Total revenues 66,698 84,841 133,046 84,204 57,518 22,516
Expenditures:
Salaries and benefits - - - - - -
Supplies and services 6,303 57,869 7,701 68,892 5,388 25,159
Special projects and studies - 23,050 - 12,136 - 2,785
Capital outlay - - - - - -
Total expenditures 6,303 80,919 7,701 81,028 5,388 27,944
Excess of revenues over
(under) expenditures 60,395 3,922 125,345 3,176 52,130 (5,428)
Other Financing Sources (Uses):
Transfers in - - - 2,600 - 1,400
Transfers out - - - - - -
Total other financing
sources (uses)- - - 2,600 - 1,400
Net change in fund balances 60,395 3,922 125,345 5,776 52,130 (4,028)
Fund balances (deficits), June 30, 2023 548,198 180,166 663,623 195,767 523,406 127,427
Fund balances (deficits), June 30, 2024 608,593$ 184,088$ 788,968$ 201,543$ 575,536$ 123,399$
Special Revenue Funds
119
CITY OF ATASCADERO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (continued)
For the Fiscal Year Ended June 30, 2024
Capital Projects
Fund
2010 Bond
Proceeds Master
Agreement Fund TOTALS
Revenues:
Taxes and assessments -$ -$ 1,566,224$
Licenses and permits - - 413,097
Intergovernmental revenues - - 1,842,369
Fines and forfeitures - - 657
Use of money and property 18,768 172 553,683
Other revenues - - 1,455
Total revenues 18,768 172 4,377,485
Expenditures:
Salaries and benefits - - 522,352
Supplies and services - - 1,603,509
Special projects and studies 4,767 - 53,903
Capital outlay 135,102 176 320,343
Total expenditures 139,869 176 2,500,107
Excess of revenues over
(under) expenditures (121,101) (4) 1,877,378
Other Financing Sources (Uses):
Transfers in - - 523,234
Transfers out - - (817,316)
Total other financing
sources (uses)- - (294,082)
Net change in fund balances (121,101) (4) 1,583,296
Fund balances (deficits), June 30, 2023 359,838 4,159 14,578,012
Fund balances (deficits), June 30, 2024 238,737$ 4,155$ 16,161,308$
Capital Projects Funds
120
CITY OF ATASCADERO
SUPPLEMENTAL LAW ENFORCEMENT SERVICES FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
S.L.E.S.F. Grant 44,290$ 169,140$ 167,599$ (1,541)$
Interest income - - 12,483 12,483
Total revenues 44,290 169,140 180,082 10,942
Expenditures:
Employee services 30,320 63,830 63,827 3
Computer maintenance & replacement 7,800 15,220 15,218 2
Operating supplies 2,870 20,680 24,318 (3,638)
Contract services 3,300 8,640 8,631 9
Special projects and purchases:
Personal protective vests - 5,150 5,148 2
Capital outlay:
Computer replacement - 3,230 3,230 -
Total expenditures 44,290 116,750 120,372 (3,622)
Excess of revenues over (under) expenditures - 52,390 59,710 7,320
Other Financing Sources (Uses):
- (52,390) (52,384) 6
Total other financing sources (uses)- (52,390) (52,384) 6
Net change in fund balance -$ -$ 7,326 7,326$
Fund balance (deficit), June 30, 2023 (1,929)
Fund balance, June 30, 2024 5,397$
Budget Variance with Final
Budget Positive
(Negative)
Transfer out to Police Impact Fees Fund
for Vehicle Purchase
121
CITY OF ATASCADERO
IN LIEU LOW/MODERATE INCOME HOUSING FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
Original Final Actual Amounts
Revenues:
Interest income 46,290$ 46,290$ 92,508$ 46,218$
Total revenues 46,290 46,290 92,508 46,218
Expenditures:
Contract services 5,000 5,000 - 5,000
Administrative charges 75,520 75,520 75,520 -
Special projects:
PSHHC Del Rio Ridge affordable housing project 400,000 400,000 - 400,000
Total expenditures 480,520 480,520 75,520 405,000
Net change in fund balance (434,230)$ (434,230)$ 16,988 451,218$
Fund balance, June 30, 2023 5,840,542
Fund balance, June 30, 2024 5,857,530$
For the Fiscal Year Ended June 30, 2024
Budget Variance with Final
Budget Positive
(Negative)
122
CITY OF ATASCADERO
DOWNTOWN BUSINESS IMPROVEMENT AREA FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Tourism assessments 14,400$ 14,400$ 14,734$ 334$
Interest income 220 220 588 368
Total revenues 14,620 14,620 15,322 702
Expenditures:
Downtown Business Association Improvement Program 14,540 14,540 13,500 1,040
Total expenditures 14,540 14,540 13,500 1,040
Net change in fund balance 80$ 80$ 1,822 1,742$
Fund balance, June 30, 2023 14,107
Fund balance, June 30, 2024 15,929$
Budget Variance with Final
Budget Positive
(Negative)
123
CITY OF ATASCADERO
ATASCADERO TOURISM BUSINESS IMPROVEMENT DISTRICT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Tourism assessments 414,120$ 414,120$ 419,591$ 5,471$
Tourism assessment penalties - - 657 657
Interest income 19,400 19,400 30,735 11,335
Total revenues 433,520 433,520 450,983 17,463
Expenditures:
Office expense 250 250 (5) 255
Advertising 175,000 177,000 142,357 34,643
Contract services 172,500 172,500 220,803 (48,303)
Professional development 8,000 8,000 475 7,525
Administration 4,140 4,140 4,202 (62)
Special projects and studies:
Opportunities Fund 60,000 58,000 - 58,000
Total expenditures 419,890 419,890 367,832 52,058
Net change in fund balance 13,630$ 13,630$ 83,151 69,521$
Fund balance, June 30, 2023 668,422
Fund balance, June 30, 2024 751,573$
Budget Variance with Final
Budget Positive
(Negative)
124
CITY OF ATASCADERO
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Community Development Block Grant 368,370$ 368,370$ 12,279$ (356,091)$
Total revenues 368,370 368,370 12,279 (356,091)
Expenditures:
Advertising - 420 417 3
Professional development - 250 249 1
Administration:
CDBG general administration 9,780 9,110 8,444 666
Capital outlay:
Santa Rosa barrier removal 289,970 289,970 3,088 286,882
Viejo Camino barrier removal 68,620 68,620 81 68,539
Total expenditures 368,370 368,370 12,279 356,091
Net change in fund balance -$ -$ - -$
Fund balance, June 30, 2023 -
Fund balance, June 30, 2024 -$
Budget Variance with Final
Budget Positive
(Negative)
125
CITY OF ATASCADERO
TREE PLANT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Permits and fees 12,000$ 12,000$ 22,380$ 10,380$
Interest income 5,390 5,390 10,537 5,147
Total revenues 17,390 17,390 32,917 15,527
Expenditures:
Office expense 200 200 - 200
Operating supplies 80 80 - 80
Contract services 10,000 10,000 4,200 5,800
Professional development 300 300 - 300
Administrative charges 26,950 26,950 26,950 -
Special projects and studies:
Native tree replanting 8,000 8,000 - 8,000
Total expenditures 45,530 45,530 31,150 14,380
Net change in fund balance (28,140)$ (28,140)$ 1,767 29,907$
Fund balance, June 30, 2023 199,648
Fund balance, June 30, 2024 201,415$
Budget Variance with Final
Budget Positive
(Negative)
126
CITY OF ATASCADERO
GAS TAX FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Section 2103 highway users tax 231,620$ 231,620$ 280,003$ 48,383$
Section 2105 highway users tax 170,150 170,150 186,732 16,582
Section 2106 highway users tax 126,040 126,040 142,663 16,623
Section 2107 highway users tax 216,400 216,400 252,757 36,357
Section 2107.5 highway users tax 6,000 6,000 6,000 -
SB1- Section 2031 Road Maintenance & Rehabilitation 760,910 760,910 794,336 33,426
Other revenues - - 1,455 1,455
Investment income 17,920 17,920 40,425 22,505
Total revenues 1,529,040 1,529,040 1,704,371 175,331
Expenditures:
Salaries and benefits 560,600 560,600 458,525 102,075
Office expense - - 259 (259)
Computer maintenance & replacement 4,620 4,620 4,620 -
Insurance 19,070 19,070 15,638 3,432
Utilities 177,150 177,150 158,158 18,992
Communications 1,700 1,700 1,830 (130)
Operating supplies and equipment 50,420 50,420 38,394 12,026
Vehicle and equipment operations 91,140 91,140 101,597 (10,457)
Contract services 171,800 171,800 212,586 (40,786)
Professional development 2,420 2,420 1,354 1,066
Recruitment 400 400 49 351
Department service allocation 186,640 186,640 186,640 -
Administrative charges 160,210 160,210 160,210 -
Special projects
Traffic Signal Back-up Battery Repair 9,000 9,000 - 9,000
Capital outlay:
15,000 15,000 12,327 2,673
Total expenditures 1,450,170 1,450,170 1,352,187 97,983
Excess of revenues over (under) expenditures 78,870 78,870 352,184 273,314
Trailer
Budget Variance with Final
Budget Positive
(Negative)
127
CITY OF ATASCADERO
GAS TAX FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE (continued)
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Other Financing Sources (Uses):
680,000$ 680,000$ 466,850$ (213,150)$
(800,000) (800,000) (4,052) 795,948
(250,000) (250,000) - 250,000
Total other financing sources (uses)(370,000) (370,000) 462,798 832,798
Net change in fund balance (291,130)$ (291,130)$ 814,982 1,106,112$
Fund balance, June 30, 2023 882,682
Fund balance, June 30, 2024 1,697,664$
Transfer out to Local Transportation Fund for Santa
Lucia Road Rehabilitation Segments B & C (SB1)
Transfer out to Local Transportation Fund for Traffic
Way Rehabilitation North (SB1)
Budget Variance with Final
Budget Positive
(Negative)
Transfer from General Fund for street maintenance
128
CITY OF ATASCADERO
STREET ASSESSMENT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Taxes and special assessments- Lobos Lane 280$ 280$ 280$ -$
Taxes and special assessments- Sonora / Pinal 380 380 380 -
Taxes and special assessments- Maleza 180 180 180 -
Taxes and special assessments- San Fernando 580 580 580 -
Taxes and special assessments- Aguila 100 100 100 -
Taxes and special assessments- Pinal / Escarpa 180 180 180 -
Taxes and special assessments- Cayucos 220 220 220 -
Taxes and special assessments- Falda 240 240 240 -
Interest income 1,390 1,390 4,543 3,153
Total revenues 3,550 3,550 6,703 3,153
Expenditures:
Special projects and studies:
Street maintenance projects 90,000 90,000 2,244 87,756
Total expenditures 90,000 90,000 2,244 87,756
Net change in fund balance (86,450)$ (86,450)$ 4,459 90,909$
Fund balance, June 30, 2023 87,957
Fund balance, June 30, 2024 92,416$
Variance with Final
Budget Positive
(Negative)
Budget
129
CITY OF ATASCADERO
GENERAL GOVERNMENT FACILITIES FEES FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Impact fees 70,000$ 70,000$ 34,716$ (35,284)$
Interest income 4,210 4,210 15,365 11,155
Total revenues 74,210 74,210 50,081 (24,129)
Expenditures:
Capital projects:
Asset management software 420,000 420,000 855 419,145
Total expenditures 420,000 420,000 855 419,145
Net change in fund balance (345,790)$ (345,790)$ 49,226 395,016$
Fund balance, June 30, 2023 294,136
Fund balance, June 30, 2024 343,362$
Variance with Final
Budget Positive
(Negative)
Budget
130
CITY OF ATASCADERO
STORM DRAINAGE FACILITIES FEES FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Impact fees 53,000$ 53,000$ 38,578$ (14,422)$
Interest income 16,730 16,730 29,720 12,990
Total revenues 69,730 69,730 68,298 (1,432)
Net change in fund balance 69,730$ 69,730$ 68,298 (1,432)$
Fund balance, June 30, 2023 570,900
Fund balance, June 30, 2024 639,198$
Variance with Final
Budget Positive
(Negative)
Budget
131
CITY OF ATASCADERO
LAW ENFORCEMENT FACILITIES FEES FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Impact fees 50,000$ 50,000$ 22,122$ (27,878)$
Interest income 9,970 9,970 16,735 6,765
Total revenues 59,970 59,970 38,857 (21,113)
Expenditures:
Special projects and studies:
Equipment for new police officers 28,640 28,640 - 28,640
Capital Projects:
New police department vehicles 113,100 165,490 165,484 6
Total expenditures 141,740 194,130 165,484 28,646
Excess of revenues over (under) expenditures (81,770) (134,160) (126,627) 7,533
Other Financing Sources (Uses):
- 52,390 52,384 (6)
Total other financing sources (uses)- 52,390 52,384 (6)
Net change in fund balance (81,770)$ (81,770)$ (74,243) 7,527$
Fund balance, June 30, 2023 352,251
Fund balance, June 30, 2024 278,008$
Transfer in from Supplemental Law Enforcement
Services Fund for Police Department Vehicles
Budget Variance with Final
Budget Positive
(Negative)
132
CITY OF ATASCADERO
FIRE FACILITIES FEES FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Impact fees 73,000$ 73,000$ 32,422$ (40,578)$
Interest income 26,280 26,280 42,671 16,391
Total revenues 99,280 99,280 75,093 (24,187)
Net change in fund balance 99,280$ 99,280$ 75,093 (24,187)$
Fund balance, June 30, 2023 1,521,019
Fund balance, June 30, 2024 1,596,112$
Variance with Final
Budget Positive
(Negative)
Budget
133
CITY OF ATASCADERO
OPEN SPACE ACQUISITION FEES FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Impact fees 86,000$ 86,000$ 51,624$ (34,376)$
Interest income 33,130 33,130 52,879 19,749
Total revenues 119,130 119,130 104,503 (14,627)
Net change in fund balance 119,130$ 119,130$ 104,503 (14,627)$
Fund balance, June 30, 2023 1,017,732
Fund balance, June 30, 2024 1,122,235$
Budget Variance with Final
Budget Positive
(Negative)
134
CITY OF ATASCADERO
PARKLAND FACILITIES FEES FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Impact fees 236,000$ 236,000$ 148,572$ (87,428)$
Interest income 27,620 27,620 44,669 17,049
Total revenues 263,620 263,620 193,241 (70,379)
Expenditures:
Special projects and studies:
Atascadero Lake pipeline project 72,920 72,920 3,773 69,147
Total expenditures 72,920 72,920 3,773 69,147
Net change in fund balance 190,700$ 190,700$ 189,468 (1,232)$
Fund balance, June 30, 2023 762,281
Fund balance, June 30, 2024 951,749$
Budget Variance with Final
Budget Positive
(Negative)
135
CITY OF ATASCADERO
PUBLIC FACILITIES FEES FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Impact fees 56,000$ 56,000$ 32,883$ (23,117)$
Interest income 5,540 5,540 8,027 2,487
Total revenues 61,540 61,540 40,910 (20,630)
Net change in fund balance 61,540$ 61,540$ 40,910 (20,630)$
Fund balance, June 30, 2023 152,487
Fund balance, June 30, 2024 193,397$
Budget Variance with Final
Budget Positive
(Negative)
136
CITY OF ATASCADERO
LIBRARY EXPANSION FACILITIES FEES FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Impact fees 28,000$ 28,000$ 18,800$ (9,200)$
Interest income 10,240 10,240 16,319 6,079
Total revenues 38,240 38,240 35,119 (3,121)
Net change in fund balance 38,240$ 38,240$ 35,119 (3,121)$
Fund balance, June 30, 2023 313,599
Fund balance, June 30, 2024 348,718$
Budget Variance with Final
Budget Positive
(Negative)
137
CITY OF ATASCADERO
FIRE AERIAL VEHICLE IMPACT FEES FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Impact fees 20,000$ 20,000$ 4,350$ (15,650)$
Total revenues 20,000 20,000 4,350 (15,650)
Net change in fund balance 20,000$ 20,000$ 4,350 (15,650)$
Fund balance (deficit), June 30, 2023 (700,406)
Fund balance (deficit), June 30, 2024 (696,056)$
Budget Variance with Final
Budget Positive
(Negative)
138
CITY OF ATASCADERO
COMMUNITY FACILITIES DISTRICT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
Original Final Actual Amounts
Revenues:
Taxes and assessments 766,380$ 766,470$ 804,105$ 37,635$
Total revenues 766,380 766,470 804,105 37,635
Expenditures:
Contract services 5,500 5,590 5,583 7
Total expenditures 5,500 5,590 5,583 7
Excess of revenues over (under) expenditures 760,880 760,880 798,522 37,642
Other Financing Sources (Uses):
(760,880) (760,880) (760,880) -
Total other financing sources (uses)(760,880) (760,880) (760,880) -
Net change in fund balance -$ -$ 37,642 37,642$
Fund balance, June 30, 2023 -
Fund balance, June 30, 2024 37,642$
For the Fiscal Year Ended June 30, 2024
Budget Variance with Final
Budget Positive
(Negative)
Transfer to the General Fund for police, fire and
parks services
139
CITY OF ATASCADERO
APPLE VALLEY STREET & STORM DRAIN ASSESSMENT DISTRICT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
Original Final Actual Amounts
Revenues:
Taxes and assessments 38,500$ 38,500$ 38,500$ -$
Interest income 16,350 16,350 28,198 11,848
Total revenues 54,850 54,850 66,698 11,848
Expenditures:
Office expense 30 30 28 2
Advertising 200 200 117 83
Contract services 19,890 19,890 4,726 15,164
Administration 1,860 1,860 1,432 428
Special projects and studies:
Traffic Signs Replacement 15,000 15,000 - 15,000
Total expenditures 36,980 36,980 6,303 30,677
Net change in fund balance 17,870$ 17,870$ 60,395 42,525$
Fund balance, June 30, 2023 548,198
Fund balance, June 30, 2024 608,593$
For the Fiscal Year Ended June 30, 2024
Budget Variance with Final
Budget Positive
(Negative)
140
CITY OF ATASCADERO
APPLE VALLEY LANDSCAPE & LIGHTING ASSESSMENT DISTRICT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
Original Final Actual Amounts
Revenues:
Taxes and assessments 63,000$ 63,000$ 63,000$ -$
Contributions from developer 11,000 11,000 11,000 -
Interest income 4,420 4,420 10,841 6,421
Total revenues 78,420 78,420 84,841 6,421
Expenditures:
Office expense 30 30 28 2
Advertising 500 500 234 266
Utilities 14,480 14,480 8,997 5,483
Operating supplies 2,550 2,550 590 1,960
Contract services 62,640 62,640 46,588 16,052
Administration 2,160 2,160 1,432 728
Special projects and studies:
Tree Trimming and Replacement 26,000 26,000 23,050 2,950
Total expenditures 108,360 108,360 80,919 27,441
Net change in fund balance (29,940)$ (29,940)$ 3,922 33,862$
Fund balance, June 30, 2023 180,166
Fund balance, June 30, 2024 184,088$
Budget
For the Fiscal Year Ended June 30, 2024
Variance with Final
Budget Positive
(Negative)
141
CITY OF ATASCADERO
LAS LOMAS STREET & STORM DRAIN ASSESSMENT DISTRICT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
Original Final Actual Amounts
Revenues:
Taxes and assessments 99,190$ 99,190$ 99,189$ (1)$
Interest income 21,090 21,090 33,857 12,767
Total revenues 120,280 120,280 133,046 12,766
Expenditures:
Office expense 80 80 72 8
Advertising 150 150 117 33
Contract services 20,120 20,120 6,080 14,040
Administration 1,840 1,840 1,432 408
Total expenditures 22,190 22,190 7,701 14,489
Net change in fund balance 98,090$ 98,090$ 125,345 27,255$
Fund balance, June 30, 2023 663,623
Fund balance, June 30, 2024 788,968$
Budget Variance with Final
Budget Positive
(Negative)
For the Fiscal Year Ended June 30, 2024
142
CITY OF ATASCADERO
LAS LOMAS LANDSCAPE & LIGHTING ASSESSMENT DISTRICT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
Original Final Actual Amounts
Revenues:
Taxes and assessments 74,160$ 74,160$ 74,160$ -$
Interest income 5,070 5,070 10,044 4,974
Total revenues 79,230 79,230 84,204 4,974
Expenditures:
Office expense 80 80 72 8
Advertising 350 350 234 116
Utilities 7,540 7,540 10,372 (2,832)
Operating supplies 2,000 2,000 18 1,982
Contract services 89,230 89,230 56,288 32,942
Administration 1,420 1,420 1,908 (488)
Special projects and studies:
Landscape improvements 15,060 15,060 12,136 2,924
Total expenditures 115,680 115,680 81,028 34,652
Excess of revenues over (under) expenditures (36,450) (36,450) 3,176 39,626
Other Financing Sources (Uses):
2,600 2,600 2,600 -
Total other financing sources (uses)2,600 2,600 2,600 -
Net change in fund balance (33,850)$ (33,850)$ 5,776 39,626$
Fund balance, June 30, 2023 195,767
Fund balance, June 30, 2024 201,543$
Variance with Final
Budget Positive
(Negative)
Budget
Transfer from the General Fund for
open space maintenance
For the Fiscal Year Ended June 30, 2024
143
CITY OF ATASCADERO
DE ANZA STREET & STORM DRAIN ASSESSMENT DISTRICT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
Original Final Actual Amounts
Revenues:
Taxes and assessments 30,560$ 30,560$ 30,561$ 1$
Interest income 15,540 15,540 26,957 11,417
Total revenues 46,100 46,100 57,518 11,418
Expenditures:
Office expense 20 20 19 1
Advertising 100 100 117 (17)
Contract services 20,670 20,670 3,951 16,719
Administration 1,600 1,600 1,301 299
Special projects and studies:
Traffic Signs Replacement 8,000 8,000 - 8,000
Total expenditures 30,390 30,390 5,388 25,002
Net change in fund balance 15,710$ 15,710$ 52,130 36,420$
Fund balance, June 30, 2023 523,406
Fund balance, June 30, 2024 575,536$
For the Fiscal Year Ended June 30, 2024
Budget Variance with Final
Budget Positive
(Negative)
144
CITY OF ATASCADERO
DE ANZA LANDSCAPE & LIGHTING ASSESSMENT DISTRICT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
Original Final Actual Amounts
Revenues:
Taxes and assessments 15,870$ 15,870$ 15,874$ 4$
Interest income 3,420 3,420 6,642 3,222
Total revenues 19,290 19,290 22,516 3,226
Expenditures:
Office expense 20 20 19 1
Advertising 350 350 234 116
Utilities 1,400 1,400 1,741 (341)
Operating supplies 600 600 - 600
Contract services 14,540 14,540 21,520 (6,980)
Administration 2,250 2,250 1,645 605
Special projects and studies:
Landscape improvements 15,360 15,360 2,785 12,575
Total expenditures 34,520 34,520 27,944 6,576
Excess of revenues over (under) expenditures (15,230) (15,230) (5,428) 9,802
Other Financing Sources (Uses):
1,400 1,400 1,400 -
Total other financing sources (uses)1,400 1,400 1,400 -
Net change in fund balance (13,830)$ (13,830)$ (4,028) 9,802$
Fund balance, June 30, 2023 127,427
Fund balance, June 30, 2024 123,399$
Transfer from the General Fund for
open space maintenance
Budget Variance with Final
Budget Positive
(Negative)
For the Fiscal Year Ended June 30, 2024
145
CITY OF ATASCADERO
CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Interest income 10,980$ 10,980$ 18,768$ 7,788$
Total revenues 10,980 10,980 18,768 7,788
Expenditures:
Special projects and studies:
March 2023 Storms- minor road repairs - 4,800 4,767 33
Capital projects:
March 2023 Storms- major road repairs - 245,200 135,102 110,098
Total expenditures - 250,000 139,869 110,131
Net change in fund balance 10,980$ (239,020)$ (121,101) 117,919$
Fund balance, June 30, 2023 359,838
Fund balance, June 30, 2024 238,737$
Variance with Final
Budget Positive
(Negative)
Budget
146
CITY OF ATASCADERO
2010 BOND PROCEEDS MASTER AGREEMENT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2024
Original Final Actual Amounts
Revenues:
Interest income -$ -$ 172$ 172$
Total revenues - - 172 172
Expenditures:
Capital outlay:
Maiden statue placement 3,700 3,700 176 3,524
Total expenditures 3,700 3,700 176 3,524
Net change in fund balance (3,700)$ (3,700)$ (4) 3,696$
Fund balance, June 30, 2023 4,159
Fund balance, June 30, 2024 4,155$
Budget Variance with Final
Budget Positive
(Negative)
147
CITY OF ATASCADERO
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF NET POSITION
June 30, 2024
Technology Fund
Vehicle and
Equipment
Replacement Fund
Building
Maintenance and
Replacement Fund Totals
ASSETS
Current Assets:
Cash and investments 2,543,171$ 8,219,513$ 10,880,878$ 21,643,562$
Receivables:
Accrued interest 14,644 48,367 64,827 127,838
Prepaid expenses 5,911 - - 5,911
Total current assets 2,563,726 8,267,880 10,945,705 21,777,311
Capital Assets:
Non-depreciable:
Construction in progress 22,197 2,274 485,514 509,985
Depreciable:
Vehicles & equipment 3,800,649 12,801,356 21,024 16,623,029
Structures and improvements - - 53,503,766 53,503,766
Accumulated depreciation (3,252,465) (7,813,382) (14,535,232) (25,601,079)
Subscription assets, net 639,424 - - 639,424
Net capital assets 1,209,805 4,990,248 39,475,072 45,675,125
Total assets 3,773,531 13,258,128 50,420,777 67,452,436
DEFERRED OUTFLOWS
Deferred outflows related to pensions 351,108 - 235,669 586,777
Total deferred outflows 351,108 - 235,669 586,777
LIABILITIES
Current Liabilities:
Accounts payable 21,850 204,784 68,257 294,891
Accrued salaries and benefits 19,498 - 12,063 31,561
Unearned revenue - - 900 900
Other payables 121,055 - - 121,055
Noncurrent Liabilities:
Noncurrent liabilities 1,098,679 - 645,494 1,744,173
Total liabilities 1,261,082 204,784 726,714 2,192,580
148
CITY OF ATASCADERO
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF NET POSITION (continued)
June 30, 2024
Technology Fund
Vehicle and
Equipment
Replacement Fund
Building
Maintenance and
Replacement Fund Totals
DEFERRED INFLOWS
Deferred inflows related to pensions 45,650$ -$ 15,356$ 61,006$
Total deferred inflows 45,650 - 15,356 61,006
NET POSITION
Net investment in capital assets 1,209,805 4,990,248 39,475,072 45,675,125
Net subscription liability 367,150 - - 367,150
Unrestricted 1,240,952 8,063,096 10,439,304 19,743,352
Total net position 2,817,907$ 13,053,344$ 49,914,376$ 65,785,627$
149
CITY OF ATASCADERO
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
For the Fiscal Year Ended June 30, 2024
Technology Fund
Vehicle and
Equipment
Replacement Fund
Building
Maintenance and
Replacement Fund Totals
Operating Revenues:
Charges for services 1,400,210$ 1,029,700$ 1,000,160$ 3,430,070$
Total operating revenues 1,400,210 1,029,700 1,000,160 3,430,070
Operating Expenses:
Salaries and benefits 681,617 - 315,889 997,506
Office expense 962 - 163 1,125
Computer maintenance, software and replacement - - 4,240 4,240
Insurance - - 86,959 86,959
Occupancy and rental costs 60,120 - - 60,120
Utilities - - 116,173 116,173
Communications 91,997 - 2,081 94,078
Operating supplies and services 21,771 - 29,038 50,809
Vehicle and equipment operating costs 3,205 - 16,828 20,033
Contract services 158,159 - 63,277 221,436
Professional development 3,949 - 587 4,536
Recruitment 494 - 359 853
Interest Expense 12,821 - - 12,821
Administrative charges 6,410 - 87,540 93,950
Special projects:
Web Site Enhancement 2,500 - - 2,500
Other office furniture 8,467 - - 8,467
Wireless networks 4,946 - - 4,946
Swift Water Rescue Personal Protective Equipment - 8,875 - 8,875
Tables - - 1,256 1,256
Chairs - - 209 209
HVAC Repairs - - 33,297 33,297
Amortization expense 242,355 - - 242,355
Depreciation expense 216,765 677,786 1,205,240 2,099,791
Total operating expenses 1,516,538 686,661 1,963,136 4,166,335
Operating income (loss)(116,328) 343,039 (962,976) (736,265)
150
CITY OF ATASCADERO
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION (continued)
For the Fiscal Year Ended June 30, 2024
Technology Fund
Vehicle and
Equipment
Replacement Fund
Building
Maintenance and
Replacement Fund Totals
Non-Operating Revenues (Expenses):
Interest income 111,078$ 400,514$ 486,987$ 998,579$
Gain (loss) on sale of capital assets - 88,167 - 88,167
Total non-operating revenues (expenses)111,078 488,681 486,987 1,086,746
Change in net position prior to capital
contributions (5,250) 831,720 (475,989) 350,481
Capital Contributions:
Cash contributions from other funds 185,744 74,400 1,700,000 1,960,144
Capital contributions from other funds 30,670 598,417 289,057 918,144
Cash contributions for Mobile Data Terminals (51,817) 51,817 - -
Total capital contributions 164,597 724,634 1,989,057 2,878,288
Change in net position 159,347 1,556,354 1,513,068 3,228,769
Total net position, June 30, 2023 2,658,560 11,496,990 48,401,308 62,556,858
Total net position, June 30, 2024 2,817,907$ 13,053,344$ 49,914,376$ 65,785,627$
151
CITY OF ATASCADERO
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF CASH FLOWS
For the Fiscal Year Ended June 30, 2024
Technology Fund
Vehicle and
Equipment
Replacement Fund
Building
Maintenance and
Replacement Fund Totals
Cash Flows From Operating Activities:
Internal activity - payments from other funds 1,400,210$ 1,029,700$ 1,000,160$ 3,430,070$
Payments to suppliers of goods and services (458,514) 170,260 (389,355) (677,609)
Payments for employee services (619,893) - (289,907) (909,800)
Net cash provided by operating
activities 321,803 1,199,960 320,898 1,842,661
Acquisition of capital assets (75,266) (1,191,591) (426,913) (1,693,770)
Cash contributions for Mobile Data Terminals (51,817) 51,817 - -
Cash contributions received for capital purchases 66,000 74,400 1,700,000 1,840,400
Proceeds from sale of capital assets - 3,141 - 3,141
Net cash provided (used) by capital
and related financing activities (61,083) (1,062,233) 1,273,087 149,771
Cash Flows From Investing Activities:
Investment income (loss)108,651 387,118 455,453 951,222
Net cash provided (used) by investing activities 108,651 387,118 455,453 951,222
Net increase in cash and cash
equivalents 369,371 524,845 2,049,438 2,943,654
Cash and cash equivalents - June 30, 2023 2,173,800 7,694,668 8,831,440 18,699,908
Cash and cash equivalents - June 30, 2024 2,543,171$ 8,219,513$ 10,880,878$ 21,643,562$
Cash Flows From Capital and Related Financing
Activities:
152
CITY OF ATASCADERO
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF CASH FLOWS (continued)
For the Fiscal Year Ended June 30, 2024
Technology Fund
Vehicle and
Equipment
Replacement Fund
Building
Maintenance and
Replacement Fund Totals
Operating income (loss)(116,328)$ 343,039$ (962,976)$ (736,265)$
Amortization expense 242,355 - - 242,355
Depreciation expense 216,765 677,786 1,205,240 2,099,791
Prepaid expenses 210 - - 210
Accounts payable (90,798) 179,135 52,652 140,989
Accrued salaries and benefits (1,080) - 2,931 1,851
Other payables 9,363 - - 9,363
Deferred outflows 5,334 - 2,967 8,301
Deferred inflows (21,207) - (11,796) (33,003)
Subscriptions payable (1,488) - - (1,488)
Net pension liability 68,994 - 38,377 107,371
Compensated absences 9,683 - (6,497) 3,186
Net cash provided by
operating activities 321,803$ 1,199,960$ 320,898$ 1,842,661$
Reconciliation of operating income (loss) to net
cash provided by operating activities:
Adjustments to reconcile operating income (loss)
to net cash provided by operating
activities:
Change in assets, deferred outflows,
liabilities, and deferred inflows:
153