CLOVIS CITY COUNCIL MEETING December 9, 2024 6:00 P.M. Council Chamber Meeting called to order by Mayor Ashbeck at 6:00 Flag Salute led by Councilmember Bessinger Roll Call: Present: Councilmembers, Basgall, Bessinger, Mouanoutoua, Pearce Mayor Ashbeck PUBLIC COMMENTS - 6:00 Tammy Anderson, resident, expressed concerns about the harshness OfLED streetlights affecting her home and strongly opposed the proposed historic district due to a desire for less government Steven Trevino, resident, raised concerns about the lack of lighting and poor sound quality during the recent Christmas Tree Lighting event, suggested the use of extra funds to improve lighting, Eric Rollins, resident, expressed concerns about the transition to district-based elections, advocating for a rotating mayor position to ensure all councilmembers remain accountable to the Josh Babcock, representing Fresno County Supervisor Nathan Magsig's office, introduced himself regulation. seating, and sound in public gathering area to enhance safety and accessibility. entire community, not just their districts. as the new field representative. CONSENT CALENDAR -6 6:10 Upon call, there was no public comment. Motion by Councilmember Bessinger, seconded by Councimember Mouanoutoua, that the items on the Consent Calendar be approved. Motion carried by unanimous vote. 1. 2. Administration - Approval - Minutes from the December 2, 2024, Council Meeting. Administration Adopt - Ord. 24-18, R2024-004, A request to amend the development standards and preliminary development plan for the Tuscan Village Planned Commercial Center, associated with approximately 33 acres of land located at the northwest corner of Sierra and N. Clovis Avenues. Blanchimont Corner LLC et al., owners; Legacy Realty and Police - Approval - Waive the City's formal bidding requirements and authorize the sole- source purchase of a Video Wall Management System for the Real Time Information Center through Wildfire Technology Integration for a total purchase of $700,088.00. Development, applicant; Roger Hurtado, representative. (Vote: 5-0) 3. Page 1 of5 COUNCIL ITEMS -6 6:10 6:10 ITEM 4 - CONSIDER VARIOUS ACTIONS RELATED TO THE NOVEMBER 5, 2024, CLOVIS GENERAL MUNICIPAL ELECTION FOR CLOVIS CITY COUNCIL AND MEASURE Y (SALES TAX): Upon call, there was no public comment. 4A - CONSIDER APPROVAL - RES. 24-137, DECLARING THE RESULTS OF THE NOVEMBER 5, 2024, CLOVIS GENERAL MUNICIPAL ELECTION FOR CLOVIS CITY Motion for approval by Councilmember Basgall, seconded by Councilmember Pearce. 4B-OATH OF OFFICE: COUNCILMEMBERS ASHBECK AND MOUANOUTOUA. City Clerk Parra administered the oath of office to Councilmember Ashbeck and COUNCIL AND MEASURE Y. Motion carried by unanimous vote. Councilmember Mouanoutoua. REORGANIZATION: 6:15 ITEM 5 - CONSIDER VARIOUS ACTIONS RELATED TO THE CITY COUNCIL Upon call, there was no public comment. 5A-ELECTION OF MAYOR BY CITY COUNCIL - MAYOR ASHBECK Motion by Councilmember Pearce seconded by Councilmember Bessinger to appoint Mayor Pro Tem Mouanoutoua as Mayor. Motion carried by unanimous vote. 5B-ELECTION OF MAYOR PRO TEM BY CITY COUNCIL - MAYOR Upon call, there was no public comment. Motion by Councimember Ashbeck, seconded by Councimember Basgall, to appoint Councilmember Bessinger respectfully declined the nomination as Mayor Pro Tem, and Motion by Councimember Bessinger, seconded by Mayor Mouanoutoua, to appoint Councilmember Pearce as Mayor Pro Tem. Motion carried by unanimous vote. Councilmember Bessinger as Mayor Pro Tem. Councimember Ashbeck withdrew the motion. Page 2 of5 5C-P PRESENTATION OF GAVEL TO OUTGOING MAYOR ASHBECK: - MAYOR Mayor Mouanoutoua presented the gavel to former Mayor Ashbeck. 5D-COUNCIL COMMENTS/INTRODUCTIONS BY MAYOR AND COUNCILMEMBERS Mayor Mouanoutoua expressed gratitude for the opportunity to serve as Mayor to the City of Clovis and honored the legacy of past leaders. RECESS FOR PHOTOS AND REFRESHMENTS (City Hall Foyer) ADMINISTRATIVE ITEMS - 7:06 7:06 ITEM 6 - WORKSHOP TO BEGIN DISCUSSION OF HOW CITY GROWTH IMPACTS COUNTY ROADS AND JOINT EFFORTS TO IMPROVE SAFETY. In attendance: City of Clovis = Councilmember Basgall, Councilmember Bessinger, Councimember Ashbeck, Mayor Pro Tem Pearce, Mayor Mouanoutoua, City Manager Holt, Assistant City Manager Haussler, and City Engineer Avery. County of Fresno: Chairman Nathan Magsig, Board of Supervisor Steve Brandau, Public Works and Planning Assistant Director Bernard Jimenez, County ofFresno Augustine Ramirez, Senior Plannger Hector Luna, Program Manager Erin Haagenson, and Vice President Ruta Jariwala. Clovis Unified School District: Assistant Superintendent Denver Stairs, Associate Superintendent Kathy Bailey, Mother of Kaiden Bailey, addressed the tragic circumstances surrounding her son's death, advocating for justice, further investigation, and safety improvements on local Anna Lazo, Mother of Sandro Lazo, addressed her commitment to pressure the City to William Lazo, Father of Sandro Lazo, discussed the unsafe road conditions of Fowler and Perrin, advocated for safety improvements, including a stop sign at the intersection. Michelle Leung, resident, expressed her concern for safety on county roads and praised the City and council for taking steps toward addressing traffic and safety issues after years Jenni Krens, resident, shared her concerns about the high speeds of traffic on the unimproved county road near her home between Locan and DeWolf and highlighted the The discussion focused on the implementation of future traffic signals in areas such as Shepard, Fowler, Behymer, and Perrin, with short-term traffic studies planned for these Michael Johnston and Director of Transportation Steven Mirelez. roads. prevent similar tragedies from happening to other parents of concern. danger posed to bicyclists and the lack of speed limits on the road. Page 3 of5 intersections. The discussion included immediate safety concerns, including traffic calming measures on Sunnyside Avenue and alternatives to roundabouts, were also addressed. A strong emphasis was placed on the need for collaboration between the City, County, and key stakeholders, including the Clovis School District and utility companies, toimprove road safety and traffic management. Additionally, there was a request for a standing agenda item to provide regular updates, either monthly or quarterly, and the possibility of revising the tax-sharing agreement was also discussed. RECESS AND RECONVENE AT DAIS -8:07 ADMINISTRATIVE ITEMS - 8:13 8:13 ITEM 7 - CONSIDER APPROVAL - 2023-24 ANNUAL COMPREHENSIVE FINANCIAL REPORT. Upon call, there was no public comment Motion carried by unanimous vote. CITY MANAGER COMMENTS -8:16 COUNCIL COMMENTS - 8:16 Motion for approval by Counci/member Ashbeck, seconded by Councilmember Pearce. None. There was consensus of the Council to bring back an agenda item regarding safe routes to school, specifically addressing the project on Ashlan across from Reagan Elementary. CLOSED SESSION-8:21 Upon call, there was no public comment. ITEM 8 - GOVERNMENT CODE SECTION 54957.6 CONFERENCE WITH LABOR NEGOTIATORIS) AGENCY DESIGNATED REPRESENTATIVE: CITY ATTORNEY UNREPRESENTED EMPLOYEE: CITY MANAGER No action taken. ITEM 9 - GOVERNMENT CODE SECTION 54957 PUBLIC EMPLOYEE APPOINTMENT / EMPLOYMENT TITLE: CITY MANAGER No action taken. RECONVENE INTO OPEN SESSION AND REPORT FROM CLOSED SESSION ADJOURNMENT Page 4 of5 Mayor Mouanoutoua adjourned the meeting of the Council to December 16, 2024. Meeting adjourned: 9:30 p.m. Buanak City Clerk CIOVON ,97 ED FEBRUI Page 5 of5 Hem 4 STATEMENT OF VOTES CAST CONSOLIDATED GENERAL ELECTION ATTHE HELDO ON NOVEMBER 5, 2024 INTHE CITY OF CLOVIS COUNTY OF FRESNO STATE OF CALIFORNIA CERTIFICATE OF COUNTY CLERK TO RESULTS OF THE CANVASS STATE OF CALIFORNIA) County of Fresno )ss. I,JAMES A. KUS, County Clerk/Registrar ofVoters oft the County of Fresno, State of California, do hereby certify that pursuant to the provisions of Section 15301 et seq oft the Elections Code of the State of California, Id did canvass the returns oft the votes cast in the City of Clovis, County of Fresno, at the election held on November 5, 2024, for the local offices and ballot measure, submitted to the vote of the voters, and that the Statement of the Vote Cast, to which this certificate is attached, shows the whole number of votes cast in the city and in each of the respective precincts therein, and that the totals of the respective columns and the totals shown for the offices are full, true and correct. WITNESS my hand and Official Seal this 3rd day ofDecember, 2024. JAMES A. KUS AvS County Clerk/Registrar ofVoters Agenda Item No. 6 COU CLOVIS UNIFLED SCHOOL DISTRICT 18560 FRES December 9, 2024 AGENDA: 6:00PM Council Chamber Meeting Focus: Begin discussion of how Clovis's growth impacts county roads and joint efforts toi improve safety City of Clovis Introduction- - Lynne Ashbeck/ /N Nathan Magsig History of issues in the vicinity Planning & Development Services - Thad Avery Development projects currently approved Estimated timing of projects within the next 5 years Additional grants and programs to aid with improvements Public Outreach and Safety "Safe Streets for All" Grant Fresno County Public' Works and Planning - Bernard. Jimenez "Safe Streets for All" Grant Other programs fori improving roadways Public Outreach and Safety Clovis Unified School District-D Denver Stairs Boundaries Routes CITY-/CLOVIS & DEVELOPMENT City of Clovis General Plan Growth Impact on County Roads Legend Schools Chyafciwsumts Citys ofClovis General Plan Land Use AG- DU20AO) Fresno County General Plan Land Use PRORC- csp. 0.35 0.7 Miles CITY/CLOVIS PLANNING & DEVELOPMENT Approved/Pending Projects Growth Impact on County Roads Legend Schools City of Clovis Limits Parcel City of Clovis SOI Future Tract Maps SFR Approved/Pendingi Projects 0.3 0.6 Miles 1.2 CITYICLOVIS PLANNING 8 DEVELOPMENT Approved/Pending Projects - Growth Impact on County Roads 9 Legend Schools City of Clovis Limits Parcel City of Clovis SOI Future Tract Maps SFR Projected 5 Year Street Widening/Construction Construction Widening Projected 5 Year Traffic Lights 0.3 0.6 Miles CITYW/CLOVIS PLANNING & DEVELOPMENT City of Clovis General Plan Growth Impact on County Roads Legend Schools oyetdosume SOL CityofClovis General Plan Land Use Fresno County General Plan Land Use PROFC CSP- DU/LAC) 0.35 0.7 Miles 1.4 CITY/CLOVIS PLANNING & DEVELOPMENT Approved/Pending Projects - Growth Impact on County Roads Legend Schools City of Clovis Limits Parcel City of Clovis SOI Future Tract Maps SFR Approved/Pending! Projects 0.3 0.6 Miles 1.2 CITY-/CLOVIS PLANNING & Approved/Pending Projects - Growth Impact on County Roads Legend Schools City of Clovis Limits Parcel City of Clovis SOI Future Tract Maps SFR Projected 5 Year Street Widening/Construction Construction Widening Projected 5 Year Traffic Lights 0.3 0.6 Miles CITY/CLOVIS PLANNING & DEVELOPMENT City of Clovis General Plan Growth Impact on County Roads Legend CityofClovis Land Use Plan Fresno County General Plan Land Use CSP- olbes 0.35 0.7 Miles 1.4 CITYICLOVIS & DEVELOPMENT Approved/Pending Projects Growth Impact on County Roads Behymer Perrin Legend Schools City of Clovis Limits Parcel City of Clovis SOI Future Tract Maps SFR Approved/Pending Projects 0.3 0.6 1.2 Miles CITY/CLOVIS PLANNING & DEVELOPMENT Approved/Pending Projects - Growth Impact on County Roads Legend Schools City of Clovis Limits Parcel City of Clovis SOI Future Tract Maps SFR Projected 5 Year Street Widening/Construction Construction Widening Projected! 5 Year Traffic Lights 0.3 0.6 1.2 Miles Public Comment for item 6 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplyeciclovis.caus) Monday, December 9, 20248:59AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Anna Lazo Email: annalazo@grmal.com Comment: #stopforsandro Supporting Files (21 Max.): Item Number (put' "O" ify your comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 8:59 am Remote IP:73.90.45.124 PUBLIC COMMENT FOR DECEMBER 9, 2024 Briana Parra From: Sent: To: Subject: City of Clovis Website pdoorpyoadosaur Monday, December 9, 20249:19AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Chandler Solis Email: mandlersolseyeno.com Comment: #stopforsandro Supporting Files (2Max.): Item Number (put' "O"i ify your comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 9:18 am Remote IP: 68.8.30.20 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplyeciclovis.caus) Monday, December 9, 20249:20AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Chantel Washington Email: crdanano@gmail.com Comment: #stopforsandro Supporting Files (21 Max.): Item Number (put "O" ifyour comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 9:19 am Remote IP: 104.28.32.227 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wPdoNOrpy9acoNsaur Monday, December 9, 20249:22AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Christian Paolinetti Email: christianpaounetti@gmai.com Comment: stopforsandro Supporting Files (2Max.): Item Number (put' "O"i if your comment is regarding ani item not on the agenda): 6 Date: December 9, 2024 Time: 9:21 am Remote IP: 140.248.45.84 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.caus) Monday, December 9, 20249:22AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Sondra Pokea Email: sonctapokea@)yeroo.com Comment: stopforsandro Supporting Files (2Max.): Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 9:22 am Remote IP: 174.242.36.232 Briana Parra From: Sent: To: Subject: City of Clovis Website pCoOpyPadoNaur Monday, December 9, 20249:37AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Julie Le Duc Email: eauclules23egmal.com Comment: #STOPFORSANDRO Supporting Files (2 Max.): Item Number (put' "O" ifyour comment is regarding ani item not on the agenda): 6 Our city streets Need to be made safe for everyone!! Date: December 9, 2024 Time: 9:36 am Remote IP: 107.77.212.126 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplyeciclovis.ca.us) Monday, December 9, 20249:37AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Olivia Paolinetti Email: wpeoinetuegat.com Comment: #STOPFORSANDRO Supporting Files (2 Max.): Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 9:37 am Remote IP: 107.116.170.23 Briana Parra From: Sent: To: Subject: City of Clovis Website PdooMpyPacoasaur Monday, December 9, 20249:39AM Andrew Haussler; Rebecca Simonian; Briana Parra (External] Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Karen Reyes Email: arensnalseyano.com Comment: #stopforsandro Supporting Files (21 Max.): Item Number (put "O" ify your comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 9:39 am Remote IP: 12.219.42.182 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplyeciclovis.ca.us) Monday, December 9, 20249:43AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Sofia Hinojosa Email.-soofiahinoj0sa4@gmailL.com Comment: #stopforsandro Supporting Files (2Max.): Item Number (put' "O" if your comment is regarding an item not on1 the agenda): 6 Date: December9, 2024 Time: 9:42 am Remote IP: 136.60.12.81 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplygciclovis.caus) Monday, December 9, 20249 9:45 AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: John Harris Email: namsaunanegmai.com Comment: StopForSandro Supporting Files (2 Max.): Item Number (put' "O" ify your comment is regarding an item not on the agenda): 6 Date: December! 9, 2024 Time: 9:45 am Remote IP:76.20.83.202 Briana Parra From: Sent: To: Subject: City of Clovis' Website wp-donotreply@ciclovis.caus) Monday, December 9, 2024 9:46 AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Aubrey Solis Email: aubreyesols23@yahoo.com Comment: #stopforsandro Supporting Files (2N Max.): Item Number (put "O"i if your comment is regarding ani item not on the agenda): 6 Date: December 9, 2024 Time: 9:45 am Remote IP:174.205.161.238 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.ca.us>) Monday, December 9, 20249:49AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: CashH Email: asnew23sllegmat.com Comment: stopforsandro Supporting Files (21 Max.): Item Number (put' "O"ify your comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 9:48 am Remote IP: 198.145.226.40 Briana Parra From: Sent: To: Subject: City of Clovis Website <wp-donotreplygcicloviscaus) Monday, December 9, 20249:49AM Andrew Haussler, Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Janae Reynolds Email: anaeheyodsegmal.com Item Number (put "O" if your comment is regarding an item not on the agenda): 6 Comment: My name is Janae Reynolds. l'am coming to you parent to parent.... Sandro Lazo was my son, Carter's, best friend. My son was shattered this last summer. Carter was starting his senior year and he told me he was now dreading school- "He was my person... we were two halves. Kids like us need each other- now who do Ihave?" This changes a boy at 17, losing his best friend. Our boys are different- they're noti football players, homecoming kings, or the popular ones... they're A/V kids, band nerds, and a band of misfit toys but they found each other. Their bond is, sorry' WAS, like no other. We want kids to put down the phones, "go be kids", get outside.... That's exactly what Sandro was doing. Ifwe want our kids to go out and be kids- then we need to ensure it's safe for them out there. Fowler and Sandro was something truly special- he was brilliant, creative, a film maker, uber funny, inclusive to all, **What would the stop sign truly cost the city or the countyP2ifitwoutd give his family even the littlest Show the parents of Clovis thaty you prioritize OUR kids just as much as you do your own... they say "it takes a village"-i it's time for our village to SHOWUP for this family and puti in at freaking stop sign so the Perrin is no longer safe! and the most positive, upliftingt teenagerlhave ever met. bit of peace- at any cost, it is the least we, as a community, can do for them. loss of their only son isn'ti iny vain. #StopForsandro Supporting Files (2 Max.): Date: December 9, 2024 Time: 9:48 am Remote IP: 107.127.14.80 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.caus) Monday, December 9, 20249:49AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Haley Solis Email: aleysouse)yanoo.com Comment: STOP FORS SANDRO Supporting Files (2 Max.): Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 0 Date: December 9, 2024 Time: 9:48 am Remote IP: 108.147.173.98 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.ca.us) Monday, December 9, 2024 9:54 AM Andrew Haussler, Rebecca Simonian; Briana Parra [External] Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Ginny Solis-Wright Email: ginny@thewrigntteamaz.com Comment: #stopforsandro Supporting Files (2 Max.): Item Number (put' "O" if your comment is regarding an item not ont the agenda): 6 Date: December9, 2024 Time: 9:54 am Remote IP:70.162.202.44 1 Briana Parra From: Sent: To: Subject: City of Clovis Website pdmoirepyoadolau Monday, December 9, 2024 10:04 AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Vera Bridges Email: erabnogesenomalt.com Comment: #stopforSandro Supporting Files (21 Max.): Item Number (put' "O" if your comment is regarding ani item not on the agenda): 6 Date: December 9, 2024 Time: 10:03 am Remote IP:73.158.225.184 Briana Parra From: Sent: To: Subject: City of Clovis' Website wp-donotreply@ciclovis.ca.us) Monday, December 9, 2024 10:05AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Heather Bright Email: conmucholuzegmal.com Item Number (put' "O" ify your comment is regarding an item not on1 the agenda): 6 Comment: lam commenting on the city impact ont the safety of county roads because our family, and especially my 16-year-old-son, have been directly impacted by this with the death of Sandro Lazo.I understand that the County of Fresno hasj jurisdiction, buti it's only because of the development byt the City of Clovis that the traffic along Fowler Avenue, north of Nees Avenue has increased. That, coupled with the lack of a stop sign at Perrin and Fowler contributed to the deaths of Sandro Lazo and Kaiden Bailey within 10 days of each other last summer. la am asking for the Clovis City Council to step up and take thei initiate to work with Fresno County and do whatever itt takes to protecti its residents. If this was your own child, I'm sure you would stop at nothing to make this happen. Supporting Files (2 Max.): Date: December9, 2024 Time: 10:04 am Remote IP: 174.219.193.18 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplygciclovis.caus) Monday, December 9, 2024 10:07 AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Emma Vega Email: abyeyas20gmal.com Comment: #STOP FOR: SANDRO Supporting Files (21 Max.): Item Number (put "O" if your comment is regarding ani item not on the agenda): 6 Date: December9,2024 Time: 10:06 am Remote IP: 65.65.156.86 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.caus) Monday, December 9, 2024 10:07AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Heba Zoubi Email: epazoub/egmai.com Comment: stopforsandro Supporting Files (2Max.): Item Number (put' "O" ifyour comment is regarding ani item not on1 the agenda): 0 Date: December 9, 2024 Time: 10:07 am Remote IP: 67.169.142.141 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplygciclovis.caus) Monday, December 9, 2024 10:15AM Andrew Haussler; Rebecca Simonian; Briana Parra (External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Branden Shaye Email: brandensnaye@gmal.com Comment: #stopforsandro Supporting Files (21 Max.): Item Number (put "O" ify your comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 10:14 am Remote IP: 174.234.196.104 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplygciclovis.ca.us) Monday, December 9, 2024 10:16. AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Leah. Angulo Email: anguoean2segmal.com Comment: #stopforsandro Supporting Files (2Max.): Item Number (put "O" ifyour comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 10:16 am Remote IP: 73.93.170.250 1 Briana Parra From: Sent: To: Subject: City of Clovis Website <wp-donotreplygciclovis.caus) Monday, December 9, 2024 10:19 AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Siobhan Balmain Email: siobhan.Datmain@gmait.com Comment: #Stopforsandro Supporting Files (21 Max.): Item Number (put' "O"i if your comment is regarding an item not on the agenda): 0 Date: December 9, 2024 Time: 10:18 am Remote IP:174.215.22.42 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.ca.us) Monday, December 9, 2024 10:30/ AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: ToriTrexler mattontvees/epmatcon Comment: #StopForSandro! Supporting Files (2Max.): Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 6 Date: December9, 2024 Time: 10:29 am Remote IP: 174.195.83.26 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.ca.us) Monday, December 9, 2024 10:31/ AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Amelia Bowring Email: ameuaabowring@gmaiu.com Comment: #StopForsandro Supporting Files (2I Max.): Item Number (put' "O"i if your comment is regarding ani item not on the agenda): 6 Date: Decembers 9, 2024 Time: 10:31 am Remote IP:72.15.125.45 Briana Parra From: Sent: To: Subject: City of Clovis Website pdomorpyPadousaur Monday, December 9, 202410:32AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Lori. Johnson Email: 1979winker@gmal.com Comment: Dear Council Members, Item Number (put' "O"ifyour comment is regarding an item not on the agenda): 0 I'm a very concerned citizen who is STILL hoping for a stop sign where Sandro was killed. What's up with Every single day since Sandro was killed in a needless CRASH, Sandro's friends and family mourni the needless loss of a wonderful human. A stop signsurelywonteasel the pain but we'd all feel better that the delay? How do we get the traffic study we've been promised? another life may be safed. Thank you, Lori Johnson Supporting Files (2 Max.): Date: December 9, 2024 Time: 10:31 am Remote IP: 136.26.5.55 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplygciclovis.caus) Monday, December 9, 2024 10:33AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Amelia Bowring Email:a amelaabowring@gmail.com Comment: #StopForsandro Supporting Files (2Max.): Item Number (put' "O" if your comment is regarding an item not on the agenda): 6 Date: December r9, 2024 Time: 10:32 am Remote IP: 72.15.125.45 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplygciclovis.caus) Monday, December 9, 202410:33AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Amelia Bowring Email: ameliaabowring@gmail.com Comment: #StopForSandro Supporting Files (2Max.): Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 10:32 am Remote IP: 72.15.125.45 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplygciclovis.caus) Monday, December 9, 2024 10:34 AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Chris Wright Email: cwngntsd@gmai.com Comment: stopforsandro Supporting Files (21 Max.): Item Number (put "O" if your comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 10:34 am Remote IP:1 174.205.227.130 Briana Parra From: Sent: To: Subject: City of Clovis Website <wp-donotreplyeciclovis.caus) Monday, December 9, 2024 10:47 AM Andrew Haussler; Rebecca Simonian; Briana Parra [External] Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Ashleigh Fowler Email: lowler730/cloud.com Comment: #STOPFORSANDRO Supporting Files (2Max.): Item Number (put' "O" if your comment is regarding ani item not on the agenda): 6 Date: December 9, 2024 Time: 10:46 am Remote IP: 73.151.51.156 1 Briana Parra From: Sent: To: Subject: City of Clovis' Website pdootepypadousaur Monday, December 9, 2024 12:17 PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Martha Ceja Email: marnacepeyanoo.com Supporting Files (2Max.): Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 6 Comment:! lam hoping the city counsel is working hard for the StopForSandro movement. Please take thet families considerations seriously, we won't give up until change happens! #stopforsandro Date: December 9, 2024 Time: 12:17 pm Remote IP: 68.186.49.224 Briana Parra From: Sent: To: Subject: City of Clovis Website pdooirepypado.saur Monday, December 9, 2024 12:14PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Albert Hernandez Email: Dearnrednation@gmait.com increased 10-20 times. make these roadways safe. Supporting Files (2 Max.): Item Number (put' "O"i if your comment is regarding an item not on the agenda): 6 Comment: Ihave lived up on Fowler for over 25 years and lam aware of 5-61 fatal accidents over al half mile stretch. The roadways are the same width and conditions are the same but the amount oft traffic has Since the City of Clovis is allowing more Developments and housing, someone needs to step up and don'tunderstand how this was allowed to happen tol begin with. Date: December 9, 2024 Time: 12:14 pm Remote IP: 172.225.89.145 1 Briana Parra From: Sent: To: Subject: City of Clovis Website pdooieyPacoNeu Monday, December 9, 202412:01PM Andrew Haussler, Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Tanyal Navas Item Number (put' "O" if your comment is regarding an item not on the agenda): 6 Email: tanya.navas@navasinvestments.com provide an update when possible. #StopforSandro Comment: The intersection at Perrin and Fowler is still a major concern for our community. Please Supporting Files (2 Max.): Date: December9, 2024 Time: 12:01 pm Remote IP: 174.227.133.35 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.ca.us) Monday, December 9, 2024 11:52 AM Andrew Haussler; Rebecca Simonian; Briana Parra [External] Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Kyle Harris Email: gbp14@yahoo.com Comment: #StopForSandro Supporting Files (2Max.): Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 6 Date: December! 9, 2024 Time: 11:52 am Remote IP: 66.60.168.230 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.caus) Monday, December 9, 2024 11:52 AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Micaela Harris Email: caearAsegmaicom Comment: #StopForSandro Supporting Files (21 Max.): Item Number (put' "O"ify your comment is regarding ani item not on1 the agenda): 6 Date: December 9, 2024 Time: 11:51 am Remote IP: 66.60.168.230 1 Briana Parra From: Sent: To: Subject: City of Clovis Website PdoNorpyPadousaur Monday, December 9, 2024 11:36AM Andrew Haussler; Rebecca Simonian; Briana Parra [External] Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Carole Michael Email: coypmomesegobalnet Comment: #STOPFORSANDRO Supporting Files (2Max.): Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 11:36 am Remote IP: 76.20.74.171 1 Briana Parra From: Sent: To: Subject: City of Clovis' Website pdootepyPadoNaur Monday, December 9, 2024 11:36A AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Oscar argueta Email: wy.97040yaho0.com Supporting Files (21 Max.): Item Number (put' "0"i ify your comment is regarding ani item not on the agenda): 0 Comment: Add a stop sign at Fowler and Perrin to protect pedestrians. Make it a priority. Date: December 9, 2024 Time: 11:35 am Remote IP: 172.59.48.238 Briana Parra From: Sent: To: Subject: City of Clovis Website pdooipyPadoNaur Monday, December 9, 2024 11:30A AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Brieana White Email: brewnte/7eyeno.com Supporting Files (2 Max.): Item Number (put' "O" ify your comment is regarding an item not on the agenda): 6 Comment: Please put a stop sign at this intersection to prevent further accidents and death. Date: December 9, 2024 Time: 11:30 am Remote IP:72.159.157.63 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.ca.us) Monday, December 9, 2024 11:24AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Cathie Bailey Email: Cbaley134@gmailcom Item Number (put' "O" ify your comment is regarding an item not ont the agenda): 6 Comment: As a mother of a child killed on a county road, this topic is extremely important to me. These narrow two lane roads that were once rarely traveled back roads are now a major throughfare. Thetraffic is heavy and speed limits are too high and often ignored. As the area continues to develop and pending road closures will force more traffic upi these county roads, iti is your responsibilityt to ensure they are as safe as possible. Fort the past 4 months, Ikeep hearing howi important this issue is while att the same time not seeing an actual plan for change. Mywhole world has been shattered and the thought of that happening to anotheri family is horrific. The speed limits need to be lowered on1 these narrow roads. There is no excuse to have al busy, narrow 2 lane road with no lights or shoulder to have a speed limit only 5mph less than Herndon Ave, which is a 6 lane, well liti road with sidewalks, a dividing strip, and stop lights every half mile. Please push for safe changes to be made. There are no excuses anymore to halt these important changes for the safety of our community, and ini memory of Sandro Lazo and Kaiden Bailey. Supporting Files (2I Max.): Date: December 9, 2024 Time: 11:24 am Remote IP: 76.20.72.11 Briana Parra From: Sent: To: Subject: City of Clovis Website PdoatrepyPadolsauy Monday, December 9, 2024 11:17 AM Andrew Haussler; Rebecca Simonian; Briana Parra [External] Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Shasta Rasmusson Email: snasta.rasmusson@mait.com Comment: #stopforDandro Supporting Files (2Max.): Item Number (put' "O" if your comment is regarding ani item not on the agenda): 6 Date: December9,2 2024 Time: 11:17 am Remote IP: 174.205.32.171 Briana Parra From: Sent: To: Subject: City of Clovis Website pconairpyPado.saur Monday, December 9, 2024 11:17AM Andrew Haussler; Rebecca! Simonian; Brianal Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Garrett Bright Item Number (put' "O"i ify your comment is regarding ani item not on the agenda): 6 Email: arrettorgntoongnntengenuty.com Comment: Discussion of thei impact of city growth on county roads is long overdue. This is as serious matter affecting the safety of our children. My son recently lost his very good friend, Sandro Lazo, when he was hit by a car while riding his bicycle at Fowler and Perrin Road. This road has become a main thoroughfare for the drasticallyi increased number Clovis of residents traveling from newer communities along Shepherd to Clovis North High School and Clovis Community College. Yet, onlyt two stop signs exist along this 4.4 mile route between Fowler & Shepherd; and' Willow & International. Further, there are no bicycle lanes along this stretch of road ori indeed in many surrounding roads with schools nearby. For example, Nees Avenue from Dry Creek Elementary to the Buchanan Educational Center is one ofthe most popular yet worst maintained roads around. Both of my children have had tor navigate this exceptionally dangerous section of road since leaving Dry Creek Elementary. The city seems to rely on construction projects, such as building of The Well Community Church, to fund their road improvements. This makes no sense in areas where construction projects are not possible. Take for example the same stretch of Nees between Sunnyside and Clovis, which is bordered by older permanent residences, a church and a ponding basin. The likelihood of that road being rebuilt as ar requirement of new adjacent non-city construction anytime soon is obviouslyv very! low. Int fact, iti is hypocritical oft the City of Clovis tor require non-city construction to improve the surrounding infrastructure while continuing tol build new schools with no thought as to the roads that students will have to navigate to attend them. Clovis prides itself on its schools but when a student has to die before the city! leaders even think to discuss thei impact of their urban planning on the safety of the students who attend those schools, one tends to wonder about their priorities. That said, la applaud this council's decision to address this issue and sincerely hope you take it deadly serious, and affect real progress toward repairing these community safety failings as quickly as possible. Supporting Files (2Max.): Date: December 9, 2024 Time: 11:17 am Remote IP: 73.235.204.11 Briana Parra From: Sent: To: Subject: City of Clovis Website pdooipyPado.saur Monday, December 9, 202411:12AM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Tiffany Louk Email: ifkayoukegmai.com Supporting Files (21 Max.): Item Number (put' "O"i ify your comment is regarding an item not on1 the agenda): 6 Comment: Please make the streets safer for pedestrians. #STOPFORSANDRO Date: December9, 2024 Time: 11:12am Remote IP: 108.147.93.114 1 Briana Parra From: Sent: To: Subject: City of Clovis Website Pdoorpy9adousaur Monday, December 9, 202411:11AM Andrew Haussler, Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Natalie Peterson Email: paddleout.peterson@gmail.com Comment: #stopforsandro Item Number (put' "O"i ify your comment is regarding an item not on the agenda): 6 Please stop pushing stop sign and traffic issues off on the county's jurisdiction. We know that this particular intersection is a Clovis resident issue impacting (and taking) Clovis resident lives. Step up and get this stop sign approved please! Supporting Files (2 Max.): Date: December 9, 2024 Time: 11:11 am Remote IP: 209.234.217.123 Briana Parra From: Sent: To: Subject: City of Clovis Website <wp-donotreply@ciclovis.ca.us) Monday, December 9, 2024 11:04 AM Andrew Haussler; Rebecca Simonian; Briana Parra (External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Aubrey May Email: aubreyhuntsmanmay@gmail.com Comment: #stopforsandro Supporting Files (2Max.): Item Number (put' "O" if your comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 11:03 am Remote IP: 73.12.149.209 1 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wPdoorpy9adoNsaur Monday, December 9, 2024 10:59AM Andrew Haussler; Rebecca Simonian; Briana Parra [External] Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Lori. Johnson Email: 1979winker@gmal.com Comment: Dear Council Member Ashbeck, Item Number (put "O"i if your comment is regarding an item not on the agenda): 6 Regarding: Workshop to begin discussion of how city growth impacts countyroads and joint efforts Impact: When a suburban area experiences a significant population increase, it can negatively impact road safety by leading to increased traffic congestion, more vehclepedestianfbicycle conflicts due to Solution: Develop an infrastructure that puts pedestrian and bicycle safety FIRST! We don'twant to improve safety. inadequate infrastructure, higher speeds on roads not designed for heavytraffic anymore deaths like Sandro last August. Thank you, Lori Johnson Supporting Files (2Max.): Date: December 9, 2024 Time: 10:59 am Remote IP: 136.26.5.55 Agenda Item 6 Briana Parra From: Sent: To: Subject: City of Clovis Website <wp-donotreply@ciclovis.ca.us) Monday, December 9, 2024 1:45PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Daren Stemwedel Email: darens@gmail.com Item Number (put' "O" if your comment is regarding an item not on the agenda): 6 Comment: Our roads within ai few miles of city limits are a patchwork mess ofi improved city roads, and 2-lane county roads that are completely falling apart under the burden of development in the City of Clovis. It has created both a safety and a quality of life issue. Ifyou have a chance, please take a drive on Nees. Ave between Sunnyside and Clovis - this road is in extremely poor condition and very unsafe as a When new projects are developed, they are onlyi improving the roadways alongside those projects. This is not good enough given thel hopscotch way Clovis is being developed. Please require new developments to have improved roads all the way from shopping centers and freeway entraces to the developments. If that's not economically feasible, then don't approve the developments. Fowler Ave. north of Nees all the way through to Behymer is a great example of roads that are not designed to support the amount of result of traffic generated by the City. traffic the city's development is putting on them. Supporting Files (2 Max.): Date: December 9, 2024 Time: 1:45 pm Remote IP: 108.244.49.217 PUBLIC COMMENT FOR DECEMBER 9, 2024 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wPdoOrpy9acoNsaur Monday, December 9, 2024 1:48 PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: PHILLIP GARCIA Email: Phigar33@gmai.com Comment: STOPFOR: SANDRO Supporting Files (2 Max.): Item Number (put' "O" ifyour comment is regarding ani item not on the agenda): 6 Date: December 9, 2024 Time: 1:48 pm Remote IP: 75.204.127.140 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreply@ciclovis.ca.us) Monday, December 9, 20242:03PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-11-18 Full Name: Rachel' Youdelman Emait.rachel270berkeley.edu populous for at-large representation. contact when they need to. Supporting Files (2 Max.): Item Number (put' "O"i ifyour comment is regarding an item not on the agenda): 9 Commentlentnusasticaly support the transition to district-based elections. The cityi is far too Residents will have al better connection to citys government if they know which council memberto Date: December 9, 2024 Time: 2:02 pm Remote IP: 67.181.166.166 1 Briana Parra From: Sent: To: Subject: City of Clovis' Website wp-donotreplygciclovis.caus) Monday, December 9, 20243:00PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Gary! Newmark Email: garn@comcast.net Comment: Regarding Agenda Item No 6: December 9, 2024 safety. Item Number (put' "O"ifyour comment is regarding ani item not on the agenda): 6 Workshop to begin discussion of how city growth impacts county roads and joint efforts toi improve Ihave lived in Clovis since Iwas 3 years old - approximately 68 years - and have noticed thati in recent years thet traffic has increased dramatically: and the drivers have become correspondingly more lawless and rude in many' ways- - speeding, aggressive driving, road rage, running red lights and stop signs, distracted driving, extreme noise, racing, weaving in and out of traffic and cutting other drivers off, Public safety, and particularly traffic enforcement should bej job number 11 for any community and thatis one of the main areas that Clovis has been noted fort that has made it a desirable place to live. The City Council has been responsible for approving the growth that has contributed to the increased traffic problems and dangers, and therefore bears the responsibilityt fort taking action to protect residents from those consequences. Additionally, with the massive numbers of expensive homes being built it only makes sense that the corresponding increase inj property taxi revenue should resulti int the abilityt to effectively mitigate the traffic problems caused by that verys growth. lappreciate your attention to this and will look forward to safer streets to drive on in an expedited time frame - especially: since there are tailgating, etc. human lives dependent on your action. Thankyou. Supporting Files (2 Max.): Date: December 9, 2024 Time: 2:59 pm Remote IP: 172.226.212.131 Briana Parra From: Sent: To: Subject: City of Clovis Website pcoorpy9acoNsaur Monday, December 9, 20242:59PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Maggie Weber Email: maggewebere.coud.com Comment: #stopsignforsandro Supporting Files (2 Max.): Item Number (put' "O" if your comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 2:58 pm Remote IP: 72.216.247.126 Briana Parra From: Sent: To: Subject: City of Clovis Website PconorpyPadousaur Monday, December 9, 20242:59PM Andrew Haussler, Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Mark Phillips Email: mtpnupsespegobalnet Item Number (put' "O" ify your comment is regarding ani item not on the agenda): 6 Comment: Ashlan. Avenue along side of the Lennar development is a very rough condition due to Lennar tearing up and patchingi it, not leaving a smooth driving surface. No white line att the edge of road making foggy days challenging to drive it. Howl long until Lennar fixes their mess? Supporting Files (2 Max.): Date: December 9, 2024 Time: 2:58 pm Remote IP:7 73.66.35.14 1 Briana Parra From: Sent: To: Subject: City of Clovis Website <wp-donotreply@ciclovis.caus) Monday, December 9, 20243:37PM Andrew Haussler; Rebecca Simonian; Briana Parra (External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Marlene price Email: summer.uvin@hotmail.com flashing pedestrian lights would be even better. Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 6 Comment: Flashing solar stop: signs at 4 way stops would greatly decrease accidents. If buttons for People seem to have forgotten how to walk at night with lights or reflectors. A community effort on news orcommercials' to re educate the public on night time pedestrian and bicycle etiquette sO people are seen by motorists. There are sO many evening hit by car accidents. It cant all be motorists fault. Supporting Files (2 Max.): Date: December 9, 2024 Time: 3:36 pm Remote IP: 73.90.194.116 1 Briana Parra From: Sent: To: Subject: City of Clovis Website Pdooirepypado.saur Monday, December 9, 2024 3:45P PM Andrew Haussler; Rebecca Simonian; Briana Parra [External] Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Christina Monreal Email: tinamonreal@yano.com Comment: Stop for Sandro! Supporting Files (2 Max.): Item Number (put' "O" ify your comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 3:44 pm Remote IP:76.20.32.104 1 Briana Parra From: Sent: To: Subject: City of Clovis Website pdoAIpyPacoNaur Monday, December 9, 2024 3:47 PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Maria Teresa Gonzales Email: awendyespegobalnet Comment: stopforsandro Fowler and Perrin- pedestrian safety. Supporting Files (21 Max.): Item Number (put' "O" ify your comment is regarding ani item not on the agenda): 0 Date: December 9, 2024 Time: 3:47 pm Remote IP:104.180.5.82 1 Briana Parra From: Sent: To: Subject: City of Clovis Website Pconorpy9adousaur Monday, December 9, 20243:55PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Sandeep Kaur Email: sanmo29eyanoo.com Comment: # STOPFOR SANDRO# Supporting Files (21 Max.): Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 6 Date: December 9, 2024 Time: 3:54 pm Remote IP: 68.254.249.236 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplyeciclovis.ca.us) Monday, December 9, 20244 4:24P PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Stacy Prinz Email: nakeymayeyahoo.com #stopforsandro Supporting Files (2 Max.): Item Number (put' "O" ify your comment is regarding ani item not ont the agenda): 6 Comment: Please do something about this intersection before someone else loses a loved one!! Date: December 9, 2024 Time: 4:23 pm Remote IP: 67.161.180.205 1 Briana Parra From: Sent: To: Subject: City of Clovis Website wPdoOrpyPacoNaur Monday, December 9, 20244:31PM Andrew Haussler; Rebecca Simonian; Briana Parra (External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Dakota Chaves Email: dakotakayleycm@yahoo.com fatal accidents!! #stopforsandro Supporting Files (2 Max.): Item Number (put' "O" ifyour comment is regarding an item not on the agenda): 6 Comment: Please put up a stop sign at this very dangerous intersection, where there have been multiple Date: December 9, 2024 Time: 4:30 pm Remote IP:99.103.194.242 Briana Parra From: Sent: To: Subject: City of Clovis Website wp-donotreplyeciclovis.ca.us) Monday, December 9, 20244:38PM Andrew Haussler; Rebecca Simonian; Briana Parra [External) Public Comment for City Council Council Meeting Date: 2024-12-09 Full Name: Alison Lo Email: alson.0@notmai.com happens! #stopforsandro Supporting Files (2 Max.): Item Number (put' "O"ify your comment is regarding an item not on the agenda): 6 Comment: lam hoping the city counsel is working hard for the StopForSandro movement. Ifthe council really cares about its people and their safety, action needs to be taken. We won'tgive up until change Date: December9, 2024 Time: 4:37 pm Remote IP: 172.56.241.246 1 Agenda Iem 7 CITY OF CLOVIS CALIFORNIA A E TED FEBRVP Aunual Comfrehensive Tinancial Report For the Fiscal Year ended June 30, 2024 - - 1 I I 1 I ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2024 CITY OF CLOVIS CALIFORNIA SIFOR LYNNE ASHBECK, MAYOR VONG MOUANOUTOUA, MAYOR PRO-TEM DREW BESSINGER, COUNCILMEMBER MATT BASGALL, COUNCILMEMBER DIANE PEARCE, COUNCILMEMBER JOHN HOLT, CITY MANAGER Prepared by City of Clovis Finance Department Jay Schengel, Finance Director - - CITY OF CLOVIS TABLE OF CONTENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2024 Page 3 8 9 10 13 16 INTRODUCTORY SECTION (Unaudited) Letter of Transmittal GFOA Certificate of Achievement. Organizational Chart. List of Principal Officials. FINANCIAL SECTION Independent Auditors' Report Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position.. Statement of Activities.. Fund Financial Statements: Balance Sheet-Governmental Funds. Management's Discussion and Analysis (Required Supplementary Information) (Unaudited). 30 31 32 33 34 35 36 38 40 42 43 44 84 88 92 94 96 97 98 99 100 101 102 104 105 Statement of Revenues, Expenditures and Changes in Fund Balances-Govemmental Funds. Reconciliation of the Statement of Revenues, Expenditures, and Changes InFund Balance of Governmental Funds to the Statement of Activities Statement of Revenues, Expenditures and Changes in Fund Balance-Budget and Actual: Statement of Revenues, Expenses and Changes in Net Position-Proprietary Funds.. General Fund. Statement of Net Position-Propnietary Funds. Statement of Cash Flows-Proprietary Funds. Statement of Fiduciary Net Position-Fiduciary Funds. Statement of Changes in Fiduciary Net Position. Notes to Financial Statements. Required Supplementary Information (Unaudited): Schedule of Changes in Net Pension Liability andl Related Ratios Schedule of Pension Contributions. Combining and Individual Fund Statements and Schedules: Combining Balance Sheet-Nonmajor Governmental Funds. Combining Statement of Revenues, Expenditures and Changes in Fund Balances-Nonmajor Governmental Funds. Schedules of Revenues, Expenditures and Changes in Fund Balance-Budget and Actual: Local Transportation Capital Projects Fund.. Off Highway Use Special Revenue Fund Housing & Community Development Special Revenue Fund. Community Facilities District 2020-1 Special Revenue Fund. 1976 Fire and Sewer Debt Service Fund.. Parks and Recreation Capital Projects Fund. Refuse Equipment Capital Projects Fund. Combining Statement of Net Position-Internal Service Funds.. Combining Statement of Revenues, Expenses and Changes in Fund Net Position-Internal Service Funds ii CITY OF CLOVIS TABLE OF CONTENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2024 Page 106 108 109 113 114 116 117 118 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 FINANCIAL SECTION (Continued) Combining Statement of Cash Flows-Internal Service Funds Combining Statement of Fiduciary Net Position. STATISTICAL SECTION (Unaudited) Net Position by Component Changes in Net Position.. General Government Revenues by Source. General Government Expenditures by Function. Changes in Fund Balances of Governmental Funds. Fund Balances of Governmental Funds.. Assessed and Estimated Actual Value of Property. Property Tax Rates-Direct and Overlapping Government Principal Property Tax Payers... Property Taxl Levies and Collections. Ratios of Outstanding Debt by Type. Combining Statement of Changes in Fiduciary Net Position- Custodial Funds.. Ratio of Net General Obligation Bonded Debt to Assessed Value and Net General Obligation Bonded Debt Per Capita. Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt. Computation of Direct and Overlapping Bonded Debt. Computation ofL Legal Debt Margin Revenue Bond Coverage. Demographic Statistics Principal Employers Full-Time City Employees Capital Asset Statistics by Function. Operating Indicators by Function. Building Permit Valuations Miscellaneous Statistics. SINGLE AUDIT SECTION Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters based on an Audit of Financial Statements Performed in Accordance Independent Auditors' Report on Compliance with Requirements that Could have al Direct and Material Effect on Each Major Program and on Internal Control over Compliance with Government Auditing Standards. inA Accordance with Federal Uniform Guidance. Schedule of Expenditures of Federal Awards. Notes to the Schedule of Expenditures of Federal Awards. Schedule of Findings and Questioned Costs. LOCAL TRANSPORTATION. FUND SECTION 141 143 146 147 148 Independent Auditors' Report on Compliance and Other Matters and on Internal Control Over Financial Reporting Based on an Audit of the Basic Financial Statements in Relation tot the Local Transportation Purpose Funds Performed in Accordance with Government Auditing Standards.. 151 APPROPRIATION LIMIT SECTION Appropriations Limit Schedule Notes to Appropriations Limit Schedule. Independent Accountants' Report on Agreed-Upon Procedures Applied to the Appropriations Limit.. 153 155 156 iv I N T R D U C 0 R Y S E C I N CITYO/CLOVIS 1033 FIFTH STREET - CLOVIS, CA 93612 November 25, 2024 To the Honorable Mayor, Members of the City Council, and Citizens of the City of Clovis: Iti is with pleasure that I present to you the City of Clovis Annual Comprehensive Financial Report (ACFR). This report has been formatted to comply with the financial reporting model as prescribed by the Governmental Accounting Standards Board (GASB). These statements have been audited in accordance with Generally Accepted Auditing Standards (GAAS) by a firm of licensed certified public accountants as required by State law. Pursuant to that requirement, we hereby issue the ACFR of the City of Clovis for the fiscal year ended June This report consists of managements representations concerning the finances of the City of Clovis. Consequently, management assumes full responsibility for the completeness and reliability of all information presented in this report. To provide a reasonable basis for making these representations, management of the City of Clovis has established a comprehensive internal control framework that is designed both to protect the government's assets from loss, theft, or misuse and to compile sufficient reliable information for the preparation of the City of Clovis' financial statements in conformity with Generally Accepted Accounting Principles (GAAP). Because the cost of internal controls should not outweigh their benefits, the City of Clovis' comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatements. As management, we assert that, to the best of our knowledge and The City of Clovis' financial statements have been audited by The Pun Group LLP. The goal of the independent audit was to provide reasonable assurance that the financial statements of the City of Clovis for the fiscal year ended June 30, 2024, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The independent auditor concluded, based upon the audit, that there was reasonable basis for rendering an unmodified opinion that the City of Clovis' financial statements for the fiscal year ended June 30, 2024, are fairly presented in conformity with GAAP. The independent auditor's report is presented as the first component 30, 2024. belief, this financial report is complete and reliable in all material respects. of the financial section of this report. City Manager 559.3 324. 2060. Finance 559. 324.2130-1 Fire 559.324. 2200. General Services 559.3 324.2060 Planning & Development: Services 559.324.2340-1 Police 559.3 324.2 2400 Public Utilities 559.324.2600. TTY-711 www. cityofclovis. com GAAP require that management provide a narrative introduction, overview and analysis to accompany the basic financial statements in the form of Management's Discussion and Analysis (MD&A). This letter of transmittal is designed to complement MD&A and should be read in conjunction with it. The City of Clovis' MD&A can be found immediately following the report of the independent auditors. Profile of the Government The City of Clovis, incorporated in 1912, as a general law City of the State of California, is located near the middle of the state in the San Joaquin Valley. The Central Valley is considered to be a national and world leader in the agricultural industry. The City of Clovis currently occupies over 25 square miles and serves a population of 126,133. The City of Clovis operates under the counci-manager form of government. Policy-making and legislative authority are vested in a governing council consisting of the mayor and four other members. The council is elected on a non-partisan basis. Council members serve four-year staggered terms, with two council members elected in one election and three elected in another election, separated by two years. The mayor is selected from among the council members by the council members and serves a two-year term. All five members of the governing board are elected at large. The council is responsible, among other things, for passing ordinances, adopting the budget, appointing committees, and hiring the City's manager and attorney. The City manager is responsible for carrying out the policies and ordinances of the governing council, for overseeing the day-to-day operations of the The City of Clovis provides a full range of services, including police and fire protection; the construction, maintenance, and cleaning of streets and other infrastructure; planning and development services; water service; refuse collection, disposal, and recycling services; sewer service; storm drainage; transit services; recreation activities and cultural events; and The annual budget serves as the foundation for the City's financial planning and control. All departments of the City are required to submit requests for appropriations to the City manager during the second week of March each year. The City manager uses these requests along with input from the council to develop a proposed budget. By the second Monday in May the proposed budget is presented to the City council for review. The council is required to hold public hearings on the proposed budget and to adopt a final budget by no later than June 30, the close of the City of Clovis' fiscal year. The appropriated budget is prepared by fund and department. The City manager may make transfers of appropriations between departments within a specific fund of up to $5,000 and up to $2,500 from reserves. Transfers in excess of those amounts require council action. Budget-to-actual comparisons are provided in this report for each individual governmental fund for which an appropriated annual budget has been adopted. For the general fund, the budget-to-actual comparison is presented on page 35 as part of the basic financial statements. For all other governmental funds with appropriated annual budgets, other than the general fund, this comparison is presented in the governmental fund subsection of this report, which starts on page 92. government, and for appointing the heads of the various departments. general administration. 4 Factors Affecting Financial Condition The information presented in the financial statements is perhaps best understood when it is considered from the broader perspective of the specific environment within which the City of Local economy. The City's unemployment rate in June of 2024 was 4.5% and has held steady this past year. The City is beginning to see a decline in historically high sales tax revenue from last year as residents struggle with the impacts of high inflation and rapidly increasing interest rates. The City has also enjoyed higher than average retail sales when compared to other cities and the state, and significantly better occupancy at hotels than experienced elsewhere. This has rapidly increased the City revenues, but the rate of increase is proving to be unsustainable and has begun to drop off. The recovery was coupled with historic inflation rates, nearing 10% and coming down to 4% in June of 2024. This inflationary pressure pushed the Federal Reserve to make rapid increases in interest rates to moderate The national economy is forecasted to slow, but a recession is not being forecast in the next year. However, some signs of slowing are evident. As was evident during the 2020 recession, the City's efforts over many years to build a strong and diverse economy that attracts high quality businesses, employees, and residents to our community will be key in In addition, the City is faced with a rapidly changing environment. The method of product delivery is transitioning to non-taxable digital services and delivery services rather than brick and mortar locations. Many employees are continuing to telecommute, changing daily traffic patterns, and finding labor is a continued challenge. This has resulted in changes in real estate demand. In this, there are opportunities for the City to address the changes in the upcoming General Plan Update and projects such as the Shaw Avenue revitalization strategy being developed. The City has also supported and leveraged the As we gain deeper knowledge of the economic shifts that rapidly occurred during the pandemic, it has confirmed that the City is on solid ground economically with new businesses, ideas, and ways of doing business to keep Clovis strong for the long run despite short term challenges in the labor market, inflationary pressures, and monetary policy. The fundamentals of a well-educated community, excellent infrastructure, good land use policies, and a heritage of hard work will provide for an economic engine that gives hope for the future. Continuing a spirit of partnership with Clovis businesses is going to be critical in reaching The City of Clovis is part of the Fresno/Clovis Metropolitan Area. This includes the City of Clovis, City of Fresno and the developed areas of the County of Fresno. The population of Fresno County is 1,017,431 as of January 1, 2024. The City's population of 126,133 experienced a .1% growth in 2024 compared to a .1% growth rate in the County. There are approximately 429,000 jobs in Fresno County. The City of Clovis has 56,500 employed out ofa total labor force of 59,400 with many Clovis residents employed outside of the City limits. Major employers include Target and Costco with over 400 employees, Clovis Community Hospital with over 2,900 employees, Wawona Frozen Foods with over 700 employees, Anlin Clovis operates. demand. walking through more uncertainty. large and continued increases in entrepreneural. start-ups. mutual goals of a vibrant community that allows for success of all residents. 5 Industries with 500 employees, the County of Fresno with over 1,800 employees, and the largest employer, Clovis Unified School District with over 5,200 employees. Of the approximately 40,000 total jobs in Clovis, 14,199 jobs are generated by the City's top ten Long-term financial planning. As part of the City of Clovis land use planning process, the City's completed General Plan is at the top of the City's land use regulation hierarchy. Itis the foundation for most of the Council's budgeting decisions in terms of capital facilities, staffing, programs, utility infrastructure, and levels of service; it establishes a land use pattern for lands beyond the City limit; it provides the vision and guidance for capital improvements and the development of City infrastructure; and it is used to create development impact fees and provides the basis for environmental analysis of the growth of the City. The plan is intended to guide development for a period of ten years and will be the basis of the City's Part of the previous General Plan was the construction of a wastewater treatment plant to serve the needs of the new growth area. The plant is expected to accommodate growth through 2033 when construction of phase two of the facility is anticipated. The wastewater treatment plant creates approximately 2.8 million gallons of disinfected recycled water each day and distributes this water through a "purple pipe" distribution system for landscape irrigation throughout the east side of the City. The reuse of this water will help conserve and Also, to finance current growth, the City has in place a variety of user and developer fees to pay for streets, parks, water wells and lines, and sewer lines. The City reviews these fees on an annual basis to assure that the fee structure is in line with the cost of construction. The Water and Sewer Funds have approved annual increases of 3% into the future if necessary. The Community Sanitation Fund has approved annual increases of 4% into the future if needed. For fiscal year 2023/24, the City implemented a 3% annual increase in water and sewer rates and a 4% annual increase in refuse, residential recycling, greeenwaste and street sweeping rates. The Sewer Fund bond surcharge of $7.30 was fully rebated for the Structurally Balanced Budget Policy. Prior to the economic recession, in fiscal year 2006/07, the City Council utilized the emergency reserve when budgetary demand for services exceeded available resources. However, with a decline in building activity beginning in the fall of 2007, the City Council acted quickly to cut costs and services to ensure a balanced budget. Although it was necessary in 2007/08 to utilize additional funds from the emergency reserve, the efforts of the Council to develop a "structurally balanced budget" has paid off and the reserve has been rebuilt from 5.5% of expenditures in 2007/08 to 20.3% of the 2024/25 general fund budgeted expenditures. The Council is determined to maintain a structurally balanced budget where current estimated expenditures are within projected current revenues in order to provide budgetary stability for all operating budgets. Assigned for Emergencies. The City currently has a policy to assign a portion of its fund balance for emergencies. These emergencies can range from major catastrophic incidents to significant economic downturns. The City Council annually considers an increase in the fund balance assigned for emergencies whenever there is unexpected or one-time revenue or expenditure savings are realized. The use of the assigned fund balance must be approved employers. annual 5 year operating and capital forecast. manage a limited water supply. fiscal year. by 4/5ths of the Council. 6 Awards and Acknowledgements The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Clovis for its ACFR for the fiscal year ended June 30, 2023. This was the thirty sixth consecutive year that the City has received this prestigious award. To be awarded a Certificate of Achievement, the City published an easily readable and efficiently organized ACFR. This report satisfied A Certificate of Achievement is valid for a period of one year only. We believe that our current ACFR continues to meet the Certificate of Achievement Program requirements, and we are submitting it to the GFOA to determine its eligibility for another certificate. In addition, the City also received the GFOA's Distinguished Budget Presentation Award for its annual budget document dated July 1, 2024. To qualify for the Distinguished Budget Presentation Award, the governments' budget document was judged to be proficient in several categories, including as a policy document, a financial plan, an operations guide, and The preparation of this report has been accomplished with the efficient and dedicated service of the City's Finance Department. Iwould like to express my appreciation to everyone who assisted in its preparation, especially, Gina Daniels, Jeff Blanks, Susan Evans, Jose both GAAP and applicable legal requirements. acommunications device. Reynoso, Jose Cortez and Ran Chan. Respectfully submitted, 35 Jay Schengel, CPA Finance Director 7 Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to City of Clovis California For its Annual Comprehensive Financial Report For the Fiscal Year Ended June 30, 2023 Chulopke P Movilk Executive Director/CEO 8 CITY OF CLOVIS ORGANIZATION CHART CITIZENS OF CLOVIS MAYOR AND CITY COUNCIL CITYCLERK CITYA ATTORNEY PLANNING COMMISSION PERSONNEL COMMISSION CITY MANAGER ASSISTANT CITY MANAGER City Manager Department Communications, General Fund Economic Development, General Fund Housing and Community Development, Special Revenue Fund Information Technology, Internal Service Fund Elections, General Fund Legislative Administrative, General Fund Records Management, General Fund Finance Department, General Fund AccountingReporting Utility Billing Budgeting City Treasurer Public Utilities Department Water, Enterprise Fund Wastewater, Enterprise Fund Community Sanitation, Enterprise Fund Parks, General Fund Streets, General Fund Fleet Maintenance, Internal Service Fund Planning and Development Services Department Planning, Enterprise Fund Building. Enterprise Fund Engineering Services, Enterprise Fund Community Investment Program, Capital Project Fund Police Department, General Fund Administration: and Support Services Communication Patrol Investigations Youth Services Animal Shelter Fire Department, General Fund Operations Training Fire Prevention Emergency Preparedness General Services Department Personnel/Risk Management, General Fund Senior Services, General Fund Public Transit, Enterprise Fund Recreation Services, General Fund Facilities Maintenance, Internal Service Fund Purchasing, Internal Service Fund 9 CITY OF CLOVIS JUNE 30, 2024 LIST OF PRINCIPAL OFFICIALS Title Name John Holt City Manager Assistant City Manager Andrew Haussler Briana Parra City Clerk Economic Development, Housing & Communications Director Finance Director/City Treasurer Chad McCollum Jay Schengel Chris Ekk Fire Chief General Services Director Shonna Halterman Renee Mathis Curt Fleming Scott Redelfs Planning & Development Services Director Police Chief Public Utilities Director 10 F I N A N S A L S E C - I N THE PUNGROUP ACCOUNTANTSG ADVISORS 46601 La. Jolla Village Drive, Suite 100 San Diego, Califoria 92122 www.Pungroup.cpa INDEPENDENT AUDITORS' REPORT To the Honorable Mayor and Members of City Council Report on the Audit of the Financial Statements oft the City of Clovis Clovis, California Opinions We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Clovis, California (the "City"), as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the 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, each major fund, and the aggregate remaining fund information of the City as of June 30, 2024, and the respective changes in financial position, cash flows, and the budgetary comparison schedule for the General Fund, thereof for the year then ended in accordance City's basic financial statements as listed in the table of contents. 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 Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate top provide al 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 Inp preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise from material misstatement, whether due to fraud or error. substantial doubt shortly thereafter. ORANGE COUNTY - SANDIEGO - SACRAMENTO - WALNUT CREEK LAS VEGAS - PHOENIX 0O6 Tot the Honorable Mayor and Members of City Council ofthe City of Clovis Clovis, California Page2 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 auditing standards generally acceptedi in the United States of America and Govemment Auditing Standards will always detect a material misstatement when ite 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 Inp performing an audit in accordance with auditing standards generally accepted in the United States of America and made by a reasonable user based on the financial statements. Govemment. 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 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for a reasonable period oft 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 City'si internal control. Accordingly, no such opinion is expressed. 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 Schedules of Changes in Net Pension Liability and Related Ratios, and the Schedule of Pension Contributions as listed in the table of contents, be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. 14 To the Honorable Mayor and Members of City Council of the City of Clovis Clovis, California Page 3 Supplementary Information Oura audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Town's basic financial statements. The Combining and Individual Fund Financial Statements and Budgetary Comparison Schedules are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the Combining and Individual Fund Financial Statements and Budgetary Comparison Schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole. Other Information Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditors' report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an Ino connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe iti in our report. opinion or any form of assurance thereon. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated November 25, 2024 on our consideration of the City's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Govemment Auditing Standards in considering the City's internal control over financial reporting and compliance. LpP fabpsf The San Diego, California November 25, 2024 15 Management's Discussion and Analysis This discussion and analysis of the City of Clovis' financial performance provides an overview of the City's financial activities for the fiscal year ended June 30, 2024. Please read it in conjunction with the accompanying transmittal letter, the basic financial statements and the accompanying notes to those financial statements. Financial Highlights The City's government-wide total assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources (net position) at the close of the fiscal year by $1.04 billion, which is 5% more than 2023. Of this amount, $91 million is in unrestricted net position, which is available to meet the City's ongoing commitments to The City's General Fund, including Landscape Maintenance, Parking and Business Improvement (PBIA), and Supplemental Law Enforcement, ended the year with a fund balance of $38 million, which represents a small increase from the previous year. The unassigned balance of $4.2 million is available for carryover to fund future general During the year, approved rates for recycling and green waste programs increased by 4% along with a 4% increase in the refuse collection and disposal program. A 3% increase in the Water and Sewer Funds were implemented during the 2024 fiscal year. The City continued to rebate the full sewer bond surcharge of $7.30 per month. citizens and creditors. fund expenditures. Overview of the Financial Statements This annual report consists of a series of financial statements. These statements include all activities of the City of Clovis, using the integrated approach as prescribed by GASB Statement No. 34. The Statement of Net Position and Statement of Activities provide information about the activities of the City as a whole and present a longer-term view of the City's finances. Fund financial statements tell how these services are financed in the short term as well as what remains for future spending. Fund financial statements also report the City's operations in more detail than the government-wide statements by providing information about the City's most significant funds. The remaining statements provide financial information about activities for which the City acts solely as a trustee or agent for the benefit of those outside the Government. Reporting the City as al Whole Government-wide financial statements. The government-wide financial statements are designed to provide readers with a broad overview of the City's finances. These statements include all assets and liabilities of the City using the accrual basis of accounting, which is similar to the accounting method used by most private sector companies. All of the current year's revenues and expenses are taken into account regardless of when cash is received or paid out. 16 The statement of net position presents information on all the City's assets and liabilities, with the difference between the two reported as net position. Over time, increases or decreases inr net position may serve as one indicator of whether the City's financial position is improving The statement of activities presents information showing how the City's net position changed in the most recent fiscal year. All changes of net position are reported as soon as the underlying event giving rise to the change occurs. Thus, revenues and expenses are reported on this statement for some items that will result in cash flows in future fiscal periods or deteriorating. (e.g. earned but unused vacation leave). The government-wide financial statements of the City are divided as follows: Governmental Activities: Most of the City's basic services are included here such as public safety, transportation (street and roads), community development, culture and recreation and general government. These services are primarily financed by property and sales taxes and Business-type Activities: The City charges fees to customers to cover the costs of services provided. The City's utilities, water, sewer, community sanitation (refuse and street cleaning), planning and development services as well as public transit services are included here. The government-wide financial statements can be found on pages 30-31 of this report. Fund financial statements. The fund financial statements provide more detailed information about the City's most significant funds, not the City as a whole. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. Some funds are required to be established by State Law or by bond covenants. Management establishes other funds to control and manage money for particular purposes or to show the City is meeting legal responsibilities for using certain taxes, grants, and other money. All the funds of the City can be classified into three 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 the near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. These funds are reported using an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be converted to cash. Such information is Because the focus of the governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for the governmental funds with similar information presented for governmental activities in the goverment-wide financial statements. By doing so, readers may better understand the long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide reconciliation between governmental funds and governmental activities. This reconciliation explains the relationship (or differences) between the fund statements and the federal and state grants. categories: governmental funds, proprietary funds, and fiduciary funds. useful in evaluating a government's near-term financing requirements. government-wide statements. 17 The City of Clovis maintains seven individual governmental funds. Information is presented separately in the governmental funds' balance sheet and in the governmental funds' statement of revenues, expenditures, and changes in fund balances for the General Fund and the Local Transportation Fund, both of which are considered major funds. Data from the other five funds are combined into a single aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements The City adopts an annual appropriated budget for the General Fund. A budgetary comparison statement has been provided for the General Fund to demonstrate compliance to this budget. The basic governmental fund financial statements can be found on pages 32-35 Proprietary funds. The City has two different types of proprietary funds, enterprise funds and internal service funds. Enterprise funds are used to report the same functions represented as business-type activities in the government-wide financial statements. The City utilizes enterprise funds to account for those activities that are supported primarily by user charges to external users, and includes community sanitation, sewer disposal, water, transit and planning and development services. Internal service funds are used to account for activities that are supported by user charges primarily to the City's other programs and activities and include employee benefits, general services, self-insurance and fleet services. Because all these services predominantly benefit governmental rather than business-type functions, they have been included within governmenta. activities in the government-wide financial Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for each of the enterprise funds since they are all major funds. All the internal service funds are combined into a single, aggregated presentation in the fund financial statements. Individual fund data for the internal service funds is provided in the form of combining statements elsewhere in this report. The basic proprietary fund financial Fiduciary funds. Fiduciary funds are used to account for resources held for the benefits of parties outside the city. Fiduciary funds are not reflected in the government-wide financial statements because the City cannot use these funds to finance its operations. The basic fiduciary fund financial statements can be found on pages 42-43 of this report. Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund statements. The notes to the financial statements can be found on pages 44-82 of this elsewhere in this report. of this report. statements. statements can be found on pages 36-41 of this report. report. 18 Government-wide Financial Analysis Below is a table showing the City's net position for the fiscal year ended June 30, 2024, with comparative data for the fiscal year ended June 30, 2023. City of Clovis' Net Position Governmental activities 2024 2023 Business-type activities 2024 2023 Total 2024 2023 Current and other assets Capital andi intangible assets Total assets Other liabilities Total liabilities Deferred Inflows of Resources Net Position: Restricted Unrestricted Total net position $ 204,221,975 $ 194,225,820 $182,456,659 $ 180,168,967 $ 386,678,634 $ 374,394,787 733,488,241 695,091,365 287,182,814 283,439,214 1,020,671,055 978,530,579 937,710,216 889,317,185 469,639,473 463,608,181 1,407,349,689 1,352,925,366 Deferred Outflows of Resources 38,297,623 40,425,670 10,301,502 11,539,472 Long-term liabilities outstanding 234,575,496 224,996,672 140,585,580 147,410,288 48,599,125 51,965,142 375,161,076 372,406,960 33,207,025 29,088,415 408,368,101 401,495,375 6,684,845 904,897,217 855,090,237 45,150,277 50,690,306 90,848,374 89,649,933 16,032,482 14,096,889 17,174,543 14,991,526 250,607,978 239,093,561 157,760,123 162,401,814 2,866,503 4,226,807 3,818,342 2,105 3,737,850 2,214 7,964,657 Net investment inc capital assets 707,385,881 668,222,549 197,511,336 186,867,688 45,148,172 50,688,092 (30,000,695) (32,488,154) 120,849,069 122,138,087 $722,533,358 $ 686,422,487 $ 318,362,510 $ 309,007,989 $ 1,040,895,868 $ 995,430,476 As of June 30, 2024, the City's government-wide total assets and deferred outfiows of resources exceeded liabilities and deferred inflows of resources (net position) by $1.04 billion. Governmental activities finished the year with a positive net position balance of $723 million, an increase of $36 million, or 5%, over 2023. Business-type activities finished the year with a positive balance of $318 million, an increase of $9 million, or 3%, over 2023. Net position, as noted earlier, may serve over time as a useful indicator of the City's health of Of the total net position, $905 million, or 87%, is the City's net investment in capital assets (e.g. land, buildings and improvements, machinery and equipment and the road network) less any related debt used to acquire those assets that is still outstanding. The City's investment in capital assets increased $50 million, restricted net position decreased by $6 million and unrestricted net position increased by $1 million, accounting for the increase in total net position of $45 million. This is primarily due to the City's investment in the road network, buildings and related improvements, and machinery and equipment. The majority of the City's long-term liabilities relate to the City's net pension liability and the acquisition of capital assets. Some of those assets include the City's corporation yard, fire stations, police vehicles and sewer and water infrastructure including the surface water treatment plant and the sewer treatment-water reuse facility. These capital assets are utilized to provide services to citizens and are not available for future spending. The repayment of the debt on these assets must be provided from other sources since the capital Restricted net position is $45 million, which represents 4% of the total net position. Restricted net position represents those resources that are subject to external restrictions on how they may be used. These restrictions are established by bond covenants or restrictions financial position. assets themselves cannot be used to liquidate these liabilities. on the use of funds by state or federal regulations. 19 Unrestricted net position represents those resources which may be used to meet the City's ongoing commitments to citizens and creditors. Government-wide unrestricted net position is $91 million, or 9% of the total net position, which is a 1% increase from the previous year. Governmental activities have a negative $(30) million unrestricted net position, which is a increase of $2 million compared to last year. Business-type activities have $121 million in unrestricted net position, a decrease of $1 million, or 1%, compared to last year. Governmental activities. Governmental activities account for $723 million, or 69%, of the total Government-wide net position. This is an increase of $36 million, or 5%, over June 30, 2023. Donated and constructed assets increased by $39 million while the amounts available for debt service, street and road construction and community development decreased by $6 million. Additionally, the amount accumulated during the year for normal activities, unrestricted net position, increased by $2 million. 20 The following lists key components of this increase: City of Clovis' Changes in Net Position Governmental activities 2024 2023 5,007,289 39,288,942 36,213,178 29,516,137 30,238,078 2,950,622 2,947,940 5,400,999 4,309,917 8.869,453 9,535,828 79,683,221 68,279,928 19,858,019 18,169,669 1,054,705 1,175,806 10,292,672 9,261,526 617,657 Business-type activities 2024 2023 Total 2024 2023 Revenues: Program revenues: Charges fors services Operating grants and contributions Capital grants and contributions General revenues: Propertyt taxes Sales taxes Franchise taxes Transient occupancy' taxes Unrestrictedi investment earnings Total revenues Expenses: General government Public safety Transportation Community development Cultural andr recreation Interesta and other charges Community: Sanitation Sewer Water Transit Planning & Development: Services Total expenses Increase in netp position before transfers Transfers Increase inr netp position Netp position-beginning Net position- ending 34.300,015 $ 42,360,599 $ 88,034.447 $ 95.360,776 $ 122,334.462 $ 137.721,375 537,308 7,987,902 5,849,464 12,995,191 6.386,772 36,897,357 18.773,764 39,288,942 36,213,178 29,516,137 30.238,078 2,950,622 2,947,940 5,400,999 4,309,917 8.869,453 9.535,828 79,683.221 68.279,928 19,858,019 18,169,669 1,054.705 1,175,806 10,292.672 9.261,526 617,657 26,696,040 24,729,993 10,091,917 8,357,494 13,748,338 13,739,734 0 34,127,517 17,368.142 2,769,840 1,405,622 8,115,077 1,198,283 5,876,145 2,299,049 13,991,222 3,497,332 158,706,598 135,173,445 104,668,334 104,914,911 263,374,932 240,088,356 462,097 462,097 26,696,040 24,729,993 10.091,917 8,357,494 13.748,338 13,739,734 22,316,767 21,030,572 22,316,767 21,030,572 24,680,751 22,083,398 24,680,751 22,083,398 120,375,727 106,884,854 97,533,813 89,941,191 217,909,540 196,826,045 38,330,871 28.288,591 7,134,521 14.973,720 45,465.392 43,262,311 36,110,871 27,838,591 9,354,521 15.423,720 45.465,392 43,262.311 686.422,487 658,583.896 309,007,989 293,584.269 995,430.476 952.168,165 $ 722,533,358 $ 686,422,487 $ 318,362,510 $ 309,007,989 $ 1,040,895,868 $ 995,430,476 (2.220.000) (450,000) 2,220,000 450,000 0 Total governmental revenues for the year were $159 million, which is $24 million, or 17%, more than in 2023. Most of this increase is attributable to federal and state grant revenue increases. Taxes, including property, sales, franchise, and transient occupancy, account for $77 million, or 49%, of the City's governmental activities revenue and increased $3 million, or 5%, from 2023. Property taxes increased by $3 million due to increased assessed values related to new construction, increased valuation base due to annexations and the statutory annual increase in taxes not to exceed 2%. Sales taxes decreased by $721 thousand mainly due to the inflationary pressures on consumers reducing their discretionary spending on taxable goods as the cost of housing, food and gas increased significantly. 21 Total governmental expenses for the year were $120 million, an increase of $13 million, or 12%, from 2023. Public Safety, which includes police and fire, accounts for $80 million, or 67%, of the total governmental activities' expenses. Public Safety expenses increased $11 million, or 17%, from 2023 primarily due to salary increases related to the police and fire departments. Community development expenses decreased from 2023. General government expenses decreased from 2023. Transportation expenses increased from 2023. Cultural and Recreation expenses were $10 million, slightly increased when compared to 2023. Expenses and Program Revenues-Governmental Activities $85,000,000 $80,000,000 $75,000,000 $70,000,000 $65,000,000 $60,000,000 $55,000,000 $50,000,000 $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 Expenses Program Revenues General Government Public Safety Transportation Community Cultural Development and Recreation propertlytaxes 25% Revenues by Source-Governmental Activities capital grants and contributions. 21% business license8 & franchiset taxes 2% sales taxes 19% transient occupancy taxes 3% operatingg grants ando contributions 3% charges for. servces 22% unrestricted investment earnings 5% 22 Program revenues that include charges for services and grants specific to certain programs were $73 million, or 46% of the total governmental activity revenue. The largest change in program revenues, notably in General Government, resulted in an increase of federal and state grants. The amounts necessary to fully fund the governmental activity programs are made up of"general" revenues such as taxes, interest, and grants and contributions. Business-type Activities. Business-type activities account for $318 million, or 31% of the total Government-wide net position. This is an increase of $9 million, or 3%, from June 30, 2023. The component, "Net Investment in Capital Assets" accounts for $198 million, or 62% of the total net position, and is an increase of $11 million from 2023. The amount of restricted net position represents less than 1% of the total net position. The amount of net position that is unrestricted, $121 million, or 38%, decreased $1 million from 2023. Charges for services were $88 million, or 84% of the total business-type activity revenue, a decrease from 2023. Grants and contributions of $11 million represent $8 million in contributions of sewer and water mains from developers and $3 million in state transit funding. Expenses and Program evenues-Business-ype Activities 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 Expenses Program Revenues Community Sanitation Sewer Water Transit Planning & Development Services 23 Revenues by sourcesusiness-ype Activities operatinggrants and contributions 8% capital grants and contributions 3% Lunrestricted investment earnings 6% charges for. services 83% Included in charges for services are development fees relating to the construction of capital improvements for sewer disposal and water operations. The revenues generated by these development fees are normally accumulated until such time as there are sufficient reserves to construct or acquire capital assets or to pay debt service on previously incurred debt. Debt service payments of principal are not considered a program expense and are, therefore, not reflected in this chart. Financial Analysis of the City's Funds finance-related legal requirements. As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with Governmental funds. Fund balance is defined in five categories: nonspendable, restricted, committed, assigned and unassigned. Nonspendable fund balances cannot be spent because of their form. Restricted fund balance has limitations imposed externally by creditors, grantors, contributors, or laws and regulations of other governments. Committed fund balance has self-imposed limitations set in place prior to the end of the period. Assigned fund balance is the amount left available for appropriation at the City's discretion The City's governmental funds ended the year with positive fund balances. The ending fund balance for all funds is $76 million, which is a $1 million increase from the previous year. Of the total fund balance, $4.2 million or 6% is unassigned, which, within the limitations of the fund's purpose, is available for spending at the City's discretion. The remainder of the fund balance is not available for new spending because it is either in a form not able to be spent or has already been restricted, assigned or committed for the following: (in millions) within the fund's purpose. 24 Capital Projects Community Development Debt service Landscape Maintenance Parking and Business Improvement Law Enforcement Services materials and supplies Capital Outlay Emergencies $23.5 11.7 0.4 9.1 0.2 <0.1 1.6 2.1 22.6 The general fund is the chief operating fund of the City. As of June 30, 2024, the total fund balance (including all categories) of the general fund was $38 million. The total fund balance of$ $38 million includes restricted balances of $9.5 million, assigned balances of $24.3 million, and an unassigned balance of $4.2 million. The change in fund balance was primarily due to The local transportation fund, used to account for all street construction projects, incurred less than budgeted expenditures as a result of several large projects awarded towards the end of the fiscal year and limited staff resources. The ending fund balance of $23.4 million is Proprietary funds. As indicated in the description of proprietary funds, there are two types of funds, enterprise and internal service funds. The City's enterprise funds ended the year with positive unrestricted net position except for the Transit Fund. This deficit balance is attributable to the liability of CalPERS pension funds. This liability is long-term in nature, not All the internal service funds finished with positive unrestricted net position. The current liability for workers' compensation claims is $9.2 million. The City funds the current year workers' compensation expenditures with charges to City programs. The City has also funded approximately $3.5 million of the accrued liability through charges to City programs in prior years. The balance of the liability is of a long-term nature, not requiring current the increases in transfers out related to capital project reimbursements. $3.6 million more than June 30, 2023. requiring current resources, and is not being funded at this time. resources, and therefore has not been funded. General Fund Budgetary Highlights Throughout the fiscal year it was necessary to adjust the original General Fund budget. The Statement of Revenues, Expenditures, and Change in Fund Balance-Budget to Actual, General Fund, on page 35 shows the original budget and final budget. 25 The Variance with Final Budget within the same statement allows the City to analyze and improve the upcoming fiscal year budget. Below is a summary of the primary variances: Comparison of Revenues, Expenditures and Changes in Fund Balance Budget and Actual. General Fund Actual Final Budget Amounts Budgeted Budgeted Original Final Variance Explanation Revenues: Property Taxes Sales Taxes Use of Money and Property From Other Agencies Expenditures: Police Public Utilities Variance due tol larger amounts realized in various property taxes mostlyi in current year secured, Variance due toi inflationary pressures on consumers Variance due to ani increase ini interest income 676,847 collected, due to higher yielding investments.. Variance mostly due to reimbursement of out-of-county 1,546,128 emergency response services provided. Variance due to open positions of patrol officers, 1,359,230 resulting ins salary savings. Variance due tos salary savings and a reduction of 1,184,062 service and supply usage versus originally budget. $38,144.000 $38,144,000 $39,288,942 $1,144,942 unsecured andi inl lieu ofv vehicle liçense fees. 31,995,000 31,995,000 29,516,137 (2.478,863)causing less discretionary spending on taxable goods. 463,000 4,779,000 463,000 4,927,182 1,139,847 6,473,310 54,781,771 54,841,771 53,482,541 14,190,041 14,240.041 13,055,979 Capital Assets and Debt Administration Capital Assets. The City's capital assets for its governmenta. and business-type activities as of. June 30, 2024, amount to $1.02 billion (net of depreatonamortization, an increase of $42 million over 2023. Capital assets include land, buildings and improvements, machinery and equipment, and road network and intangible capacity rights for water and sewer. Major capital asset additions this year include the following: Land $ 17 million $ 10 million $10 million Building and improvements Road network improvements and land acquisitions During the year the City made improvements to various streets and received developer donated infrastructure. The sewer system improvements include the City's share of capital projects for the Fresno-Clovis regional wastewater treatment plant. Additional information on the City's capital assets can be found in note IV.E on pages 62-64. 26 CITY OF CLOVIS' Capital Assets (net of depreciation) Governmental activities 2024 2023 Business-type activities 2024 2023 Total 2024 2023 Land Buildings andi improvements Right to usel lease buildings Machinery and equipment Rightt to usel lease equipment Road network Intangibles Total $ 297,987,318 $ 280,729,414 $ 40,776,635 $ 40,776,635 $ 338,763,953 $ 321,506,049 116,083,788 105,999,678 211,173,387 211,214,525 327,257,175 317,214,203 10,041,534 10,707,729 18,440,002 18,069,919 4,746,664 2,343,792 286,538,716 276,694,640 2,053,091 10,041,534 10,707,729 2,343,792 286,538,716 276,694,640 2,986,448 23,186,666 21,056,367 2,655,477 2,655,477 234,508 30,486,128 28,461,606 32,539,219 28,696,114 733,488,241 $ 695,091,365 $ 287,182,814 $ 283,439,214 $1,020,671,055 $ 978,530,579 Long-term Debt. The City's long-term debt as of June 30, 2024, was $112 million, with governmental activities accounting for $25 million, or 22%, and business-type activities accounting for $87 million, or 78%. CITY OF CLOVIS' Outstanding Bonds, Loans, Notes from Direct Borrowings and Contracts Govemmental activities 2024 2023 $ 2,775,567 $ 1,908,905 9,077,447 11,370,846 Business-type activities 2024 2023 1,203,845 Total 2024 2023 $ 2,775,567 $ 1,908,905 9,077,447 11,370,846 1,203,845 Loans payable Notes from direct borrowings Revenue bonds Contracts payable Total 13,168,706 13,473,784 $ 87,414,061 $ 93,585,238 100,582,767 107,059,022 $ 25,021,720 $ 26,753,535 $ 87,414,061 $ 94,789,083 $ 112,435,781 $ 121,542,618 General obligation debt are direct obligations of the City and are backed by the full faith and credit of the City requiring voter approval and may have a tax rate set to cover repayment. State statues limit the amount of general obligation debt to 15% of the City's total assessed valuation. The City of Clovis' debt limit is $2.0 billion. The City currently has no general obligation debt outstanding. Detailed information on the City's long-term debt activity can be found in Note F. oft the notes to the financial statements. Economic Factors and Next Year's Budgets and Rates The City is closely watching the national economy along with the state's budget and the impact these have on Clovis. During the budget development process for the 2024/25 fiscal year, the City was able to increase general fund expenditures by $5 million, or 5% compared to the estimated 2023/24 expenditures. The increase is largely due to funding new positions, cost-of-living salary increases, increased costs of employee benefits, and general price While the City's unemployment rate is currently low at 5%, the U.S. has experienced historically high inflation over the last several years. This continues to be a concern for the City in the next budget year. The increase in prices is putting further pressure on households and shifting household dollars away from discretionary spending which could have a significant impact on the City's sales taxes as a larger portion of income goes to essentials such as food, transportation and housing costs. High inflation has originated from a mismatch increases impacting the cost of services and supplies. 27 between total demand and supply in the economy, largely as a result of constraints from the pandemic and an aggressive fiscal and monetary policy response. The Federal Reserve has recently started lowering interest rates as its aggressive response has helped to bring On. June 30, 2024, the General Fund has an assigned fund balance of $22.6 million, or 22% of2023/24 budgeted expenditures set aside for unforeseen emergencies. The City continues ton monitor the impacts of high inflation and rising interest rates on the economy and the City's The Council determined that it was necessary for the Community Sanitation Fund to implement a rate increase of 4% for the green waste and recycling programs, the refuse collection and disposal program and the street sweeping program for the 2024/25 fiscal year. Furthermore, the Council determined that a 3% increase was necessary for the Water Fund. The Sewer Fund will have a 3% rate increase and the full $7.30 bond surcharge will continue inflation under control. budget and will continue to adjust its strategies to address those impacts. to be fully rebated. Requests for Information This financial report is designed to provide our citizens, taxpayers, customers, investors and creditors with a general overview of the City of Clovis' finances and to demonstrate the City's accountability for the money it receives. If you have any questions about this report or need additional financial information, contact the Finance Director, City of Clovis, 1033 Fifth Street, Clovis, CA, 93612. 28 B : C F N A I S : M E N T S City of Clovis Statement of Net Position June 30, 2024 Primary Government Activities 13,973,279 22,024,811 3,617,628 2,105 40,776,635 215,920,051 30,486,128 469,639,473 10,301,502 10,301,502 3,917,116 13,257,427 13,481,199 127,104,381 157,760,123 1,231,760 446,235 2,140,347 3,818,342 197,511,336 2,105 Governmental Business-type Activities $203,084,224 $142,838,836 10,413,684 (22,024,811) 11,564,643 959,000 225,235 297,987,318 433,447,832 2,053,091 937,710,216 38,297,623 38,297,623 9,648,888 3,721,879 2,661,715 58,335,127 176,240,369 250,607,978 116,914 2,749,589 2,866,503 707,385,881 450,409 23,502,117 12,021,493 9,174,153 (30,000,695) 120,849,069 Total 345,923,060 24,386,963 15,182,271 959,000 227,340 338,763,953 649,367,883 32,539,219 1,407,349,689 48,599,125 48,599,125 13,566,004 3,721,879 15,919,142 71,816,326 303,344,750 408,368,101 1,348,674 3,195,824 2,140,347 6,684,845 904,897,217 452,514 23,502,117 12,021,493 9,174,153 90,848,374 ASSETS Cash and investments Receivables Internal balances Due from other governments Inventories Restricted assets: Cash andi investments Capital assets, not being depreciated Capital assets (net of accumulated depreciation) Intangible assets (net of accumulated amortization) Total assets DEFERRED OUTFLOWS OF RESOURCES Pension related deferred outflows LIABILITIES Accounts payable Accrued payroll Unearned revenue Long-term liabilities: Due within one year Duei in more than one year Total liabilities DEFERRED INFLOWS OF RESOURCES Lease related deferred inflows Pension related deferred inflows Deferred gain on bond refunding NET POSITION Neti investmenti in capital assets Restricted for: Debt service Streets and roads Community development Landscape maintenance Unrestricted (deficit) Total net position $722,533,358 $318,362,510 $1,040,895,868 The notes to the financial statements are an integral part of this statement. 30 City of Clovis Statement of Activities For the Year Ended June 30, 2024 Net (Expense) Revenue and Changes in Net Position Primary Government Activities Program Revenues Operating Capital Charges for Grants and Grants and Governmental Business-type Services Contributions Contributions Activities Expenses Total Function/Programs Primary government: Governmental activities: General government Public safety Transportation Community development Cultural and recreation Interest and other charges Total governmental activities Business-type activities: Community sanitation Sewer disposal Water Transit 8,869,453 $ 11,037,180 $ 163,385 79,683,221 19,858,019 17,936,157 1,054,705 10,292,672 617,657 2,331,112 1,358,397 (617,657) 2,331,112 (73,875,823) 29,688,718 1,358,397 (5,825,653) (617,657) 0 (46,940,906) 359,882 (1,683,330) 2,345,294 1,809,102 (1,572,572) 1,258,376 (45,682,530) 39,288,942 29,516,137 2,950,622 5,400,999 13,991,222 0 91,147,922 45,465,392 1,571,892 3,136,228 $ 1,099,278 (73,875,823) 32,410 31,578,170 29,688,718 21,118 1,635,792 3,733,668 756,192 693,877 (5,825,653) 39,474 120,375,727 34,300,015 5,007,289 34,127,517 (46,940,906) 26,696,040 27,055,922 22,316,767 19,452,032 24,680,751 25,437,610 10,091,917 $ 359,882 (1,683,330) 2,345,294 1,809,102 (1,572,572) 0 1,258,376 13 1,181,405 1,588,435 4,000,139 7,900,880 Planning & Development Services 13,748,338 12,088,744 87,022 Total business-type activities Total primary government 97,533,813 88,034,447 7,987,902 2,769,840 $217,909,540 $122,334,462 $12,995,191 $36,897,357 (46,940,906) 1,258,376 General revenues: Property taxes Sales taxes Franchise taxes Transient occupancy taxes Unrestricted investment earnings (losses) Transfers Total general revenues and transfers Changes in net position Net postion-Deginning Net position-ending 39,288,942 29,516,137 2,950,622 5,400,999 8,115,077 (2,220,000) 2,220,000 83,051,777 8,096,145 36,110,871 5,876,145 9,354,521 686,422,487 309,007,989 995,430,476 $722,533,358 $318,362,510 $1,040,895,868 The notes to the financial statements are an integral part of this statement. City of Clovis Balance Sheet Governmental Funds June 30, 2024 Major Funds Other Governmental Funds Total Governmental Funds 224,800 9,844,660 11,552,679 Local Transportation General ASSETS Cash andi investments Cash with agents-restricted Receivables Due from other governments Total assets LIABILITIES AND FUND BALANCES Liabilities: Accounts payable Accrued payroll Due to other governments Deposits and other liabilities Unearned revenue Total liabilities Fund balances: Restrictedi for: Capital projects Community development Debt service Landscape maintenance Parking and business improvement Lawe enforcement Assigned for: Services, materials and supplies Capital Emergencies Unassigned, reported in: General fund Total fund balances Total liabilities and fund balances 32,887,512 $ 74,782,043 $ 10,378,850 $ 118,048,405 43,803,112 $ 79,903,718 $ 15,963,714 $ 139,670,544 $ 1,025,325 $ 4,189,661 $ 1,591,362 $ 6,806,348 224,800 664,496 4,232,379 4,379,625 6,535,975 4,800,539 784,325 3,721,880 27,906 496,549 580,463 5,852,123 3,721,880 27,906 50,734,974 2,661,715 63,952,823 23,502,117 11,724,911 449,974 9,174,153 211,071 85,511 1,662,700 2,121,000 22,600,000 4,186,284 75,717,721 50,204,166 2,081,252 56,475,079 23,428,639 34,259 1,625,621 73,478 11,693,641 449,974 31,270 9,174,153 211,071 85,511 1,662,700 22,600,000 4,186,284 37,950,989 2,121,000 23,428,639 14,338,093 $ 43,803,112 $ 79,903,718 $ 15,963,714 Reconciliation of the Governmental Fund Balances to the Governmental Activities Net Position Amounts reported for governmental activities in the statement of net position are different because: Capital assets used in governmental: activities are not financial resources and therefore, are notr reported int the funds. (Net of $120,418,723 of internal service fund capital assets) Internal service funds are used by management to charge the costs of fleet management, employee benefits, liability and property insurance and general services toi individual funds. The assets and liabilities oft thei internal service funds are included in governmental activities in the statement of net position. (Net of $16,024,811 allocated tob business-type activities) Long-term liabilities, including compensated absences, and net pension liability, are not due and payable int the current period and therefore are not reported in thet funds. 613,069,518 137,273,019 (103,526,900) $ 722,533,358 Net Position of Governmental Activities The notes to the financial statements are an integral part oft this statement. 32 City of Clovis Governmental Funds For the Year Ended June 30, 2024 Statement of Revenues, Expenditures, and Changes in Fund Balances Major Funds General Transportation $39,288,942 29,516,137 7,684,608 5,390,581 1,307,374 190,317 6,473,310 14,119,662 7,888,676 7,488,595 106,368,387 16,840,771 Other Governmental Governmental Funds Total Funds $39,288,942 29,516,137 7,684,608 5,390,581 1,307,374 190,317 7,488,595 Local REVENUES Property taxes Sales taxes Business license & Franchise taxes Transient occupancy taxes Licenses and permits Fines and forfeitures Use ofr money and property From other agencies Charges for services Other revenues Total revenue EXPENDITURES Current: General government Public safety Transportation Community development Cultural and recreation Capital outlays Total expenditures 1,139,847 $ 2,721,109 $ 798,199 4,659,155 3,206,273 23,799,245 1,781,104 9,669,780 5,785,576 128,994,734 8,851,777 77,456,919 5,708,119 77 10,285,161 102,302,053 13,399,253 8,851,777 77,456,919 5,861,579 1,056,512 10,285,161 153,460 13,245,793 1,056,435 5,837,759 19,083,552 6,894,194 122,595,500 Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) 4,066,334 3,441,518 (1,108,618) 6,399,234 Transfers in Transfers out 114,000 114,000 599,234 (3,950,000) (3,950,000) 116,334 (1,964,000) (5,914,000) Total other financing sources (uses) Net change in fund balances Fund Dalances-beginning Fund balances-ending 114,000 (1,964,000) (5,800,000) 3,555,518 (3,072,618) 37,834,655 19,873,121 17,410,711 75,118,487 $37,950,989 $23,428,639 $14,338,093 $75,717,721 The notes to thet financial statements are an integral part of this statement. 33 City of Clovis Reconciliation of the Statement of Revenues, To the Government-Wide Statement of Activities For the Year Ended June 30, 2024 Expenditures, and Changes in Fund Balances of Governmental Funds Amounts reported for governmenta. activities in the statement of activities (page 31) are different because: Net change in fund balances-total governmenta funds (page 33) $ 599,234 Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported as eprecatonamortuzation expense. This is the amount by which eprecatonemontzation exceeded capital outlays in the current period. The net effect of donations and miscellaneous transactions involving capital assets Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in 5,030,846 26,169,156 (i.e., sales and trade-ins) is to increase net position. governmental funds. (5,078,198) Internal service funds are used by management to charge the costs of fleet maintenance, employee benefits, liability and property insurance and general services to individual funds. The net revenue of certain activities of internal service funds is reported with governmental activities. Net of $2,146,808 allocated to business-type activities. 9,389,833 36,110,871 Change in net position of governmental activities (page 31) The notes to the financial statements are an integral part of this statement. 34 City of Clovis General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance-Budget and Actual For the Year Ended June 30, 2024 Variance with Final Budget- Positive (Negative) (105,392) 325,581 (199,626) 2,317 676,847 1,546,128 294,776 (255,405) 951,305 68,191 41,052 111,373 227,908 782,615 354,844 1,359,230 357,740 1,184,062 4,487,015 5,438,320 Budgeted Amounts Original 7,790,000 5,065,000 1,507,000 188,000 463,000 4,779,000 7,507,000 7,744,000 561,200 351,748 1,123,200 2,544,799 4,626,651 4,126,536 Actual Amounts 7,684,608 5,390,581 1,307,374 190,317 1,139,847 6,473,310 7,888,676 7,488,595 493,009 310,696 1,011,827 2,316,891 3,885,036 3,771,692 Final 7,790,000 5,065,000 1,507,000 188,000 463,000 4,927,182 7,593,900 7,744,000 561,200 351,748 1,123,200 2,544,799 4,667,651 4,126,536 REVENUE Property taxes Sales taxes Business license & Franchise taxes Transient occupancy' taxes Licenses and permits Fines and forfeitures Use of money and property From other agencies Charges for services Other revenues Total revenues EXPENDITURES Council Clerk Attorney Manager General services Finance/Treasurer Police Fire Public utilities Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers Out Total other financing sources (uses) Net change in fund balance Fund balance-beginning Fund balance-ending $38,144,000 $ 38,144,000 $ 39,288,942 $ 1,144,942 31,995,000 31,995,000 29,516,137 (2,478,863) 105,182,000 105,417,082 106,368,387 54,781,771 54,841,771 53,482,541 24,284,940 24,332,122 23,974,382 14,190,041 14,240,041 13,055,979 106,590,886 106,789,068 102,302,053 (1,408,886) (1,371,986) 4,066,334 (3,930,000) (3,950,000) (3,950,000) (3,930,000) (3,950,000) (3,950,000) (5,338,886) (5,321,986) 37,834,655 37,834,655 37,834,655 $32,495,769 $32,512,669 $37,950,989 $ 5,438,320 0 0 5,438,320 116,334 Ther notes to the financial statements are an integral part of this statement. 35 City of Clovis Statement of Net Position Proprietary Funds June 30, 2024 Business-Type Activities-Enterprise Funds Major Enterprise Funds Water Governmental Activities Internal Totals Service Funds Planning & Development Services Community Sewer Sanitation Disposal Transit ASSETS Current assets: Cash and investments Receivables Due from other governments Inventories Advances to other funds Total current assets Noncurrent assets: Cash with fiscal agent-Dond accounts Total restricted assets Capital assets: Land Buildings and improvements Machinery and equipment Less accumulated depreciation Total capital assets (net of accumulated depreciation) intangible assets: Less accumulated amortization Total intangible assets (net of accumulated amortization) Total noncurrent assets Total assets DEFERRED OUTFLOWS OF RESOURCES Pension related deferred outfiows $15,938,924 $40,903,360 $ 60,346,365 $ 16,434,287 $ 9,215,900 $ 142,838,836 $ 85,035,819 4,870,716 3,892,351 4,994,731 80,598 134,883 13,973,279 40,946 3,455,536 3,617,628 569,024 11,964 0 959,000 6,000,000 0 2,105 435 2,105 435 40,776,635 8,872,400 331,892,070 139,967,295 31,712 11,350 78,084 6,000,000 750 750 20,841,352 44,807,061 71,419,180 16,555,831 12,806,319 166,429,743 86,575,807 1,355 0 1,355 0 19,076,813 5,041,119 16,658,703 9,769,152 178,687,014 143,435,904 3,321,457 839,517 2,102,750 27,679,472 115,695,255 110,306,583 130,517 8,441,018 14,835,259 63,416,737 44,838 2,970,538 256,696,686 118,365,632 316,673 59,249,097 2,421,724 (154,862) (28,762,969) 161,811 30,486,128 2,053,091 44,838 3,132,349 287,184,919 120,419,158 (4,487,950) (68,872,395) (51,890,774) (85,679) (5,470,480) (130,807,278) (93,890,800) 44,313,638 14,618,786 (24,882,859) (3,725,248) 19,430,779 10,893,538 27,679,472 135,127,389 121,200,871 (368,633) 48,520,824 179,934,450 192,620,051 16,600,669 15,938,668 453,614,662 206,994,965 2,748,268 719,913 1,987,973 3,125,606 1,719,742 10,301,502 2,426,759 Total deferred outflows ofr resources 2,748,268 719,913 1,987,973 3,125,606 1,719,742 10,301,502 2,426,759 Business-Type Activlties-Enterprise Funds Major Enterprise Funds Water Governmental Activities Internal Totals Service Funds Planning & Development Services 213,441 88,800 Community Sewer Sanitation Disposal Transit LIABILITIES Current liabilities: Accounts payable Claims and judgments payable Due to other governments Accrued compensated absences Deposits and other liabilities Unearned revenue Lease liability-current Subscription liability-current Direct borrowings-curment Loans payable-current Revenue bonds-current Contracts payable-current Total current liabilities Noncurrent liabilities: Claims and judgments payable Accrued compensated absences Advances from other funds Direct borrowings Loans payable Lease liability Subscription liability Revenue bonds (net of discountpremium) Contracts payable Landfill closure Net pension liability Total noncurrent liabilities Total liabilities DEFERRED INFLOWS OF RESOURCES Lease related deferredi inflows Pension related deferred inflows Deferred gain on bond refunding, net Total deferred inflows of resources NET POSITION Net investment in capital assets Restricted for debt service Unrestricted (deficit) Total net position 730,146 1,880,889 1,072,590 14,023 3,911,089 2,814,633 0 2,548,000 6,027 289,500 56,600 7,133,839 733,052 0 0 71,581 107,860 563,243 0 2,155,179 0 253,887 5,950,000 300,000 0 6,027 32,000 81,000 2,400 493,937 22,500 65,200 2,826,294 4,305,145 278,063 12,485,427 13,257,427 107,860 3,540,000 2,410,000 1,307,483 5,443,389 6,374,084 4,885,449 12,645,337 30,655,742 9,496,175 0 6,665,000 272,478 0 6,000,000 0 6,922,270 0 2,521,680 0 505,436 9,210 517,395 81,464,061 12,868,706 0 5,700,540 389,630 108,044 313,607 427,404 154,155 1,392,840 9,210 72,994,671 8,469,390 5,700,540 9,876,036 2,295,341 7,143,737 13,132,382 6,090,234 38,537,730 10,129,241 15,966,206 75,398,056 15,926,734 13,559,786 6,253,599 127,104,381 46,402,206 17,273,689 80,841,445 22,300,818 18,445,235 18,898,936 157,760,123 55,898,381 579,679 30,745 1,519,870 123,623 2,130,294 1,359,562 27,679,472 57,071,493 109,700,254 652,081 87,004 620,477 1,231,760 76,423 446,235 2,140,347 76,423 3,818,342 116,914 108,599 225,513 435 123,623 128,440 128,440 44,838 3,015,279 197,511,336 94,316,363 1,355 750 2,105 16,024,811 $318,362,510 6,192,308 40,609,776 61,246,640 1,107,762 (4,332,228) 104,824,258 58,981,032 $33,871,780 $97,682,624 $170,947,644 $1,152,600 $(1,316,949) 302,337,699 $153,297,830 Adjustments tor reflect the consolidation ofi internal service fund activities related to enterprise funds. Net position of business-type activities The notes to the financial statements are an integral part oft this statement. City of Clovis Proprietary Funds For the Year Ended June 30, 2024 Statement of Revenues, Expenses, and Changes in Net Position Business-Type Activlties-Enterprise Funds Major Enterprise Funds Governmental Activities Internal Planning & Development Services Community Sanitation Disposal 118,628 141,144 Sewer Water 260,645 101,494 Transit Totals Service Funds Operating revenues: Charges for services From other agencies Other revenues Total operating revenues Operating expenses: Salaries and benefits Services, materials and supplies Administration Deprec.atomamortzation Total operating expenses Operating income (loss) Nonoperating revenues (expenses): Interest income Neti increase (decrease) in cash fair value Interest expense State transit funding Legal settlement Gain (loss) on sale of capital assets Total nonoperating revenue (expense) Income (loss) before contributions and transfers Capital contributions Transfers in Changes in net position Total net position-beginning Total net position-ending $25,693,189 $ 19,152,130 $ 24,604,083 $ 11,833,726 $ 113,344 $ 81,396,472 $ 72,981,295 25,952,961 19,304,561 24,966,222 11,921,333 3,655,795 85,800,872 129,361 23,070 87,022 3,542,451 4,138,107 132,447 1,720,845 74,834,587 24,212,750 36,201,965 2,002,400 7,550,529 4,866,943 2,540,153 992,137 (617,657) 53,651 2,968,284 7,835,227 121,417 3,580,000 11,536,644 141,761,186 153,297,830 585 266,293 7,978,325 1,926,186 4,037,308 3,000,292 401,366 5,303,226 (743,079) (395,573) 525,434 1,409,043 115,397 5,566,880 8,753,658 5,305,223 29,530,272 3,845,861 2,460,600 1,393,600 14,737,661 835,331 (1,827,005) (6,436,122) (8,566,448) 14,279,041 9,470,430 11,448,341 2,520,584 2,797,911 40,516,307 3,269,809 13,496 595,183 9,583,080 26,696,040 19,700,134 24,130,891 13,748,338 10,091,917 94,367,320 69,967,644 2,272,054 382,407 (549,860) 172,343 513,112 108,087 168,931 4,888,574 (165,472) 987,571 (3,166,493) 7,900,880 7,900,880 172,343 1,446 1,446 2,769,840 2,220,000 547,152 (2,616,633) 640,831 150,000 47,752 (660,438) 2,276,944 1,181,405 125,394 621,199 7,905,785 10,784,321 (102,248) (1,056,011) 3,112,275 (1,205,806) 1,469,663 2,217,873 1,588,435 1,700,000 6,400,710 370,000 (835,806) 1,469,663 7,207,713 33,824,028 97,557,230 164,546,934 1,988,406 (2,786,612) $33,871,780 $97,682,624 $ 170,947,644 $ 1,152,600 $(1,316,949). Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds. 2,146,808 $9,354,521 Change in net position of business-type activities (page 31) The notes to the financial statements are an integral part of this statement. (This page is intentionally left blank) 39 City of Clovis Statement of Cash Flows Proprietary Funds For the Year Ended June 30, 2024 Business-Type Actlvlties-Enterprise Funds Major Enterprise Funds Governmental Activities- Internal Totals Service Funds Planning & Development Services Community Sewer Sanitation Disposal Water Transit CASH FLOW FROM OPERATING ACTIVITIES Receipts from customers and users Receipts for interfund services Payments to suppliers Payments to employees Other revenues $25,790,331 $ 19,179,425 $ 24,112,082 $ 12,285,064 $ 1,561,823 $ 82,928,725 (17,674,919) (12,635,012) (15,904,139) (4,593,956) (4,234,442) (55,042,468) (37,872,091) (7,617,101) (1,964,446) (4,527,616) (8,254,217) (5,047,222) (27,410,602) (23,771,927) 758,083 4,732,396 4,214,810 (475,500) (4,177,391) 5,052,398 12,999,525 $72,390,937 259,772 152,429 534,483 87,609 3,542,450 4,576,743 2,252,606 Net cash provided by (used in) operating activities CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers-in from other funds Repayment of advances to other funds Transportation funding-State 150,000 150,000 1,700,000 750,000 0 2,450,000 370,000 2,220,000 3,580,000 750,000 7,900,880 7,900,880 370,000 7,900,880 10,870,880 3,580,000 Net cash provided by (used in) noncapital financing activities CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition and construction of capital assets Principal paid on loans, bonds, and capital leases Interest paid on loans, bonds and capital leases Principal paid on advances from other funds Proceeds from sale of capital assets CASHFLOWS FROM INVESTING ACTIVITIES Interest and dividends on investments Increase/decrease), in fair value ofi investments Net cash provided by (used in) investing activities Net change in cash and cash equivalents Cash and cash equvalents-beginning of year Cash and cash equivalents-end of year (1,033,214) (3,057,890) (4,199,648) (2,266,988) (10,557,740) (14,649,137) (103,784) (7,478,806) (1,321,038) (4,342,535) (3,032,487) (2,616,633) (549,860) (3,166,493) (617,657) 0 (750,000) 2,346 76,802 2,346 Net cash by (used in) capital and related financing activities (1,033,214) (10,017,058) (7,781,995) 0 (2,368,426) (21,200,693) (16,129,430) 525,434 1,409,042 2,272,054 640,831 1,956,194 2,654,461 515,700 (3,328,468) 1,537,276 513,113 108,087 (165,472) 621,200 515,700 1,358,525 168,934 4,888,577 2,540,155 987,571 3,462 5,876,148 3,532,292 598,733 3,982,387 115,397 547,152 382,407 992,137 15,423,224 44,233,183 58,809,839 15,918,587 7,857,375 142,242,208 81,053,867 $15,938,924 $40,904,715 $60,347,115 $ 16,434,287 $ 9,215,900 $142,840,941 $85,036,254 Reconciliation of operating income (loss) to net cash provided by (used in) operating activities: Operating income (loss) Adjustments to reconcile operating income (loss) tonet cash provided (used) by operating activities: Deprecatomamontizaton expense Landfill closure expense Legal settlement (Increase)/decrease in accounts receivable (Increase)decrease in due from other governments (Increase)/decrease ini inventories (Increase)decrease in deferred outflows pension (Increase)/decrease in prepaid items increase/decrease) in accounts payable Increase/decrease) in due to other governments Increase/decrease) in accrued compensated absences Increase/decrease), in unearned revenue Increase/decrease) in claims and judgments payable Increase/decrease), in deposits Increase/decrease), in net pension liability Increase/decrease), in deferred inflows lease Increase/decrease) in deferred inflows bond refunding Increase/dlecrease) in deferred inflows pension Total adjustments Net cash provided by (used in) operating activities Noncash investing, capital, and financing activities: $ (743,079) $ (395,573) $ 835,331 $ (1,827,005) $(6,436,122) $ (8,566,448) $ 4,866,943 401,366 5,303,226 3,269,809 13,496 595,183 9,583,080 7,550,529 (21,434) (104,296) (562,620) 506,697 (120,674) 347,748 170,914 1,855 354,700 (150,145) (29,369) 318,874 286,330 (164,292) (65,254) 276,656 400 184,616 (77,012) 354,700 172,343 (16,050) 270,467 457,769 0 (10,000) 320,368 0 187,379 266,836 (635,101) 6,027 (28,886) 10,819 (574,308) 0 790,000 (410,036) 738,320 188,094 (91,774) (58,457) 578,758 0 (78,460) 172,343 (354,579) (76,158) 216,369 16,816 24,428 67,834 (10,029) 65,139 191,330 1,139,460 (42,932) 6,027 (393) 10,478 (33,925) 1,667,422 1,910,153 (626,752) 216,316 136,361 (61,264) 718,987 45,212 (30,510) (140,229) (18,860) 257,072 115,059 (56,881) (107,234) (47,995) (307,982) 1,501,162 5,127,969 3,379,479 1,351,505 2,258,731 13,618,846 8,132,582 758,083 $ 4,732,396 $ 4,214,810 $ (475,500) $(4,177,391) $ 5,052,398 $12,999,525 During the year the Sewer Disposal Fund, an enterprise fund, received $1,181,4051 in donated assets. During the year the Water Fund, an enterprise fund, received $1,588,435 in donated assets. The notes to the financial statements are an integral part of this statement. City of Clovis Fiduciary Funds June 30, 2024 Statement of Fiduciary Net Position Redevelopment Successor Agency Private- Purpose Trust Fund Custodial Funds ASSETS Cash and investments Cash with agent-restricted Receivables Prepaid items Total assets LIABILITIES Accounts payable Deposits and other liabilities Tax allocation bonds payable Total liabilities NET POSITION Restricted for: $ 1,009,565 $ 150,934 1,059,951 427 129,730 10,594,032 12,793,705 2,337 153,271 Capital assets (net of accumulated depreciation) 164,954 8,515,753 8,680,707 4,112,998 4,112,998 474 474 Held in trust for Redevelopment Successor. Agency Fund Individuals, organizations, and other governments 152,797 152,797 Total net position The notes to the financial statements are an integral part of this statement. 42 City of Clovis Statement of Changes in Fiduciary Net Position For the Year Ended June 30, 2024 Redevelopment Successor Agency Private- Purpose Trust Fund 1,437,439 (12,383) 1,425,056 Custodial Funds ADDITIONS Property taxes Special assessment tax Interest Total additions DEDUCTIONS Services, materials and supplies Administration Depreciation Interest and other fiscal charges Community development Total deductions $ 75,463 5,386 80,849 10,000 10,000 75,563 429,860 525,423 899,633 3,213,365 113,700 113,700 (32,851) 185,648 Net increase (decrease) in fiduciary net position Net position-Deginning Net position-ending 4,112,998 $ 152,797 The notes to thet financial statements are an integral part of this statement. 43 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 .Summary of significant accounting policies A. Reporting entity The City of Clovis, California (City) was incorporated on February 27, 1912 as a general law city oft the State of California, and as such can exercise the powers specified by the constitution and laws of the State of California. The City is governed by an elected five-member City Council under the administration of an appointed City Manager. The accompanying financial statements present the government and its component units, entities for which the government is considered to be financially accountable. Blended components units, although legally separate entities, are, in substance, part of the government's operations. 1. Blended component units Although the following are legally separate from the City, they have been "blended" as though they are part of the City because the component unit's governing body is substantially the same as the City's and there is a financial benefit or burden relationship between the City and the component unit; management of the City has operational responsibilities for the component unit; andlor the component units provide services entirely, or almost entirely, to the City or otherwise exclusively, or almost exclusively, benefits the City, even though it does The Clovis Municipal Development Corporation (Corporation) was established by the Clovis City Council in January 1985 to handle the City's and the Clovis Community Development Agency's development of property. There were no assets, liabilities, equity or activity to report fort the current or prior fiscal years. The Clovis Public Financing Authority (Authority) was established by the Clovis City Council in July 1991 to facilitate the issuance of the City's debt. There were no assets, liabilities, equity or other activity to report for the not provide services directly. current or prior fiscal years. 2. Fiduciary activities The City presents its fiduciary activity information for assessing its accountability and financial reporting of the City in their role as fiduciaries. The definition of a "fiduciary" is a person or organization that acts on behalf of another person or persons to manage assets. Fiduciary responsibility refers to the obligation that one party has in relationship with another one to act entirely on the other party's behalf and best interest. Iti is considered to be the standard of highest care. B.G Government-wide and fund financial statements The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all oft the non-fiduciary activities of the primary government and its components units. The effects of interfund activity have been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, 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 of as 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 which rely to a significant extent on fees and charges for support. general revenues. 44 CITY OF CLOVIS Notes to Financial Statements Fort the Year Ended June 30, 2024 Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds and majori individual enterprise funds are reported as separate columns in the fund financial statements. The basic financial statements of the City have been prepared in conformity with accounting principles generally accepted of the United States of America (U.S. GAAP) as applied to governmental agencies. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing The government-wide, proprietary fund, and fiduciary fund financial statements are reported using the economic resources" measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenue in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirement imposed by the provider have been met. Governmental fund financial statements are reported using the' "current financial resources" measurement focus and the modified accrual basis of accounting. Revenues are recognized when they have been earned and they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service principal and interest expenditures on general long-term debt, including lease liabilities, as well as expenditures related to compensated absences, and claims and judgments, postemployment benefits and environmental obligations are recognized later based on specific accounting rules applicable to each, generally when payment is due. General capital asset acquisitions, including entering into contracts giving the City the right to use lease assets, are reported as expenditures in governmental funds. Issuance of long-term debt and Property taxes, franchise taxes, licenses and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the C.N Measurement focus, basis of accounting, and financial statement presentation governmental accounting and financial reporting. financing through leases are reported as other financing sources. government. The City reports the following major governmental funds: The general fund is the government's primary operating fund. It accounts for all financial resources of the The local transportation fund accounts for the City's share of Transportation Development Act (SB 325) funds allocated by the State that are restricted to expenditures for capital street improvements and maintenance and for the deposits by developers for special street improvement projects. general government, except those required tol be accounted fori in another fund. The City reports the following major proprietary funds: The community sanitation fund accounts for the activities of the City's refuse collection and disposal The sewer disposal fund accounts for the activities oft the City's sanitary sewer system operations. The water fund accounts for the activities oft the City's water production and distribution operations. The planning and development services fund accounts for the activities of the City's engineering operations, landfill operations and street sweeping operations. operations. 45 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 The transit fund accounts for the activities of the City's transit operations. Additionally, the City reports the following fund types: Internal service funds account for general liability and property damage insurance, fleet management services, retirement, workers' compensation, and health, unemployment and Medicare insurance, facility maintenance and enhancement, telecommunication and information technology, and other general services provided to other departments or agencies of the City on cost reimbursement bases. Custodial funds account for assets held by the City for, certain special assessments collected and Private-purpose trust funds are used to account for the assets of the former Clovis Community As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements. The exception to this general rule is payments-in-lieu oft taxes. Elimination of these charges would distort the direct costs and program revenues reported fort the various functions concerned. Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with the proprietary fund's principal ongoing operations. The principal operating revenues of the community sanitation enterprise fund, of the sewer enterprise fund, of the water enterprise fund and of the City's internal service funds are charges to customers for sales and services. The sewer enterprise fund and the water enterprise fund also recognize as operating revenue the portion of developer fees intended to recover the cost of connecting new customers to the system. Operating expenses for enterprise funds and internal service funds include the cost of sales and services, administrative expenses and depreciation on capital assets: All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses. When both restricted and unrestricted resources are available for use, it is the government's policy to use distributed on behalf of the districts. Development Agency during the wind down period. revenues. Likewise, general revenues include all taxes. restricted resources first, then unrestricted resources as they are needed. D.Assets, liabilities, deferred outlows/inflows, and net position/fund balance 1.Cash and investments The City maintains a cash and investment pool that is available for use by all funds. This pool utilizes investments authorized by the Government Code and is further defined by the City's investment policy that is Highly liquid market investments with maturities of 1 year or less at the time of purchase are stated at amortized cost. All other investments are stated at fair value. Market value is used as fair value for the securities for which Authorized investments include deposits in the State of California administered Local Agency Investment Fund, insured certificates of deposits, collateralized certificates of deposits, commercial paper, bankers acceptances, medium term notes, money market mutual funds and securities backed by the U.S. Government. All reviewed annually by the City Council. market quotations are readily available. investments are stated at fair value. 46 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Interest income earned as a result of pooling is distributed to the appropriate funds based on month end cash balances in each fund. Interest income from cash and investments with fiscal agents and deferred For purposes of the statement of cash flows, the City considers short term and highly liquid investments The City invests its excess cash principally in U.S. Government Securities, U.S. Treasuries and the State of California Local Agency Investment Fund (LAIF). Investments in the LAIF are available for withdrawal on The City is also required to deposit funds with fiscal agents under the provisions of Revenue Bonds, Contracts and/or Lease Agreements. These funds are invested by the fiscal agent in instruments generally more restrictive U.S. GAAP defines fair values, establishes a framework for measuring fair value and establishes disclosures abouti fair value measurement. Investments, unless otherwise specified, recorded fair value in the Statement of Net Position/Balance Sheet, are categorized based upon the level ofj judgment associated with the inputs used Level 1 - Inputs are unadjusted, quoted prices for identical assets and liabilities in active markets at the Level 2 - Inputs, other than quoted prices included in Level 1, that are observable for the assets or Level 3- Unobservable inputs that reflect managements best estimate of what market participants would compensation is credited directly to the related fund. (including restricted assets) to be cash and cash equivalents. demand. than the City's investment policy. tor measure their fair value. Levels of inputs are as follows: measurement date. liabilities through corroboration with market data at the measurement date. use in pricing the assets or liabilities at the measurement date. 2. Receivables Billed but unpaid services provided to individuals or non-governmental entities are recorded as receivables." Services provided to other governmental entities are recorded as "due from other governments." The City's utility enterprise funds include an estimated amount for services rendered but not yet billed as of. June 30, 2024, The City has not experienced any material write-off of receivables; and therefore, an "allowance for bad debts" determined by prorating the July 2024 bi-monthly billing. is noti included on the City's balance sheet or statement of net position. 3. Interfund recelvablesypayaDles During the course of operations, interfund receivables and payables transactions arise. These receivables and payables are classified as "due from other funds" or "due to other funds" on the fund financial statements. On the government-wide statement of net position, the "internal balances" represents the amounts receivable/payable between business-type activities and governmental activities. All other interfund transactions have been eliminated on the statement of net position. 4. Inventories Inventories, consisting of fuel and vehicle parts, are valued at cost. 5.0 Capital assets/intangible assets Capital assets, which include property, plant, equipment, right to use and infrastructure assets (roadways), are reported in the applicable governmental or business-type activities columns in the government-wide financial 47 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 statements. Capital assets are defined by the City as assets with an initial, individual cost ofr more than $10,000, and an estimated useful life of at least three years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated assets are recorded at estimated acquisition value at the The cost of normal maintenance and repairs that do not add tot the value of the asset or materially extend assets lives are not capitalized. Intangible assets include the purchase of sewer capacity rights and water entitlement rights. The City purchased sewer capacity rights from the City of Fresno at the Fresno Regional Waste Water Treatment Plant. The total amount of $44,313,638 is reported in the City's Sewer Disposal Enterprise Fund. The City purchased water entitlement rights from the Fresno Irrigation District for surface water. The total amount of Donated assets include developer donated land as well as the improvements on the land including streets, curbs and gutters, sidewalks, street lighting and landscaping. Included in the total amount of capital grants and contributions on the government-wide statement of activities is $29,060,413 of developer donated assets. Property, plant and equipment of the primary government is depreciated over the estimated useful lives using date donated. Intangible assets are valued at historical cost. $14,618,786 reported int the City's Water Enterprise Fund. the straight-line method, half-year convention. Estimated useful lives are as follows: Distribution Systems Roadways Buildings Vehicles Right to use Other Equipment 50 years 50 20-40 5-20 5-35 3-10 Amortization of intangibles is computed over 40 years using the straight-line method, half-year convention. As thel life of the rights have al life of 40 years. 6. Compensated absences The liability for vested leave (vacation, compensated time off, holiday) earned but not used in governmental funds is expensed and established as al liability and is reported in the government-wide statement of net position in the governmental activities column. Vested leave of proprietary funds is recorded as an expense and liability oft those funds as thel benefits accrue. No liability is recorded for non-vesting leave such as sick leave. 7.Long-term liabilities Int the government-wide financial statements, and proprietary fund types in the fund financial statements, long-term liabilities and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary fund type statement of net position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net oft the applicable bond premium or discount. Bond issuance costs are expensed when In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts not withheld from the actual debt proceeds received are reported as debt service expenditures. Discounts withheld incurred. from the debt proceeds are reported as other financing uses. 8. Unearned Revenue For the Government-wide Financial Statements, unearned revenue is recognized in connection with a transaction before the earnings process is completed. 48 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 For the Governmental Fund Financial Statements, unearned revenues arise when potential revenues do not meet both the 'measurable" and 'available" criteria for recognition in the current period. Unearned revenues also arise when the government receives resources before it has al legal claim to them, as when grant monies are received prior to incurring qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met or when the government has a legal claim to the resources, unearned revenues are removed from the balance sheet and revenue is recognized. 9. Pensions Forp purposes ofr measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the plans and additions to/deductions from the plans' fiduciary net position have been determined on the same basis as they are reported by the plans. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable ina accordance with! benefit terms. Plani investments are reported at fair value. Thei following timeframes are used forp pension plan reporting: CalPERS Valuation Date June 30, 2022 Measurement Date June 30, 2023 Measurement Period July 1, 2022 to June 30, 2023 Gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time. The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related top pensions and aret tol be recognized int future pension expense. The amortization period differs depending on the source of the gain or loss. The difference between projected and actual earnings is amortized straight-line over 5 years. All other amounts are amortized: straight-line over the average expected remaining service lives of all members thata are provided with benefits (active, inactive, and retired) as oft the beginning of ther measurement period. 10. Fund balances In the fund financial statements, governmental funds report components of fund balance based on constraints on the specific purposes for which amounts can be spent. Nonspendable" fund balance is not in a spendable form or has a requirement to maintain intact. Restricted" fund balance has externally enforceable limitations on its use such as restrictions from outside parties such as creditors, grantors, contributors, laws or regulations of other governments or imposed by law through constitutional provisions or enabling legislation. "Committed" fund balance is constrained by limits imposed by the government's highest level of decision-making. and can only be removed or modified by a formal action by that authority. "Assigned" fund balance is limited by City Council, the City Manager or the designated department head as delegated by City Council. "Unassigned" fund balance is The general fund is the only fund that reports a positive unassigned fund balance amount. In other governmental funds, it is not appropriate to report a positive unassigned fund balance amount. However, in governmental funds other than the general fund, if expenditures incurred for specific purposes exceed the amounts that are restricted, committed or assigned to those purposes, it may be necessary to report a negative The City will spend the funds restricted for their purpose within those funds first followed by assigned funds for their intended purposes prior to spending any unassigned funds. The City Council has established a target of a minimum unassigned fund balance for any operational fund is 10% of the budgeted expenditures with the goal for unassigned fund balance of up to 15% of budgeted expenditures unless capital borrowing or extraordinary the residual net resources. unassigned fund balance in that fund. fiscal conditions require higher levels of unassigned fund balance be maintained. 49 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 The local transportation fund is the City's only major capital project fund. This fund accounts for the capital street projects paid for out of the City's share of Transportation Development Act (SB 325) funds allocated by the state, 1/2 cent sales tax for transportation, Special Gas Tax Select Street funds, and federal funding sources under the Federal Intermodel Surface Transportation Efficiency Act. In addition, funds are transferred from the Developer Trust Fund as reimbursements are made for developer-financed projects. 11. Net Position as follows: Int the government-wide financial statements and proprietary fund financial statements, net position is classified Net Investment in Capital Assets - This component of net position consists of capital assets, net of accumulated eprecatonemonzaton, reduced by the outstanding balances of debt, net of deferred refunding, that are attributable to the acquisition, construction, or improvement oft those assets. Restricted - This component of net position consists of restricted assets reduced by liabilities and deferred Unrestricted - This component of net position is the amount of the assets, deferred outflows of resources, liabilities, and deferred inflows of resources that are not included in the determination of net investment in When expenses are incurred for purposes for which both restricted and unrestricted components of net position are available, the City's policy is to apply the restricted component of net position first, then the unrestricted inflows of resources related to those assets. capital assets or the restricted component of net position. component of net position as needed. 12. Use of estimates from those estimates. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ 13. Deferred outflows/inflows of resources In addition to assets, the statement of financial position includes a separate section for deferred outflows of resources. Deferred outflows of resources represent a consumption of net assets that applies to a future period(s) and so will not be recognized as an outflow of resources expenselexpenditure) until then. The City has two items that qualify for reporting in this category. It is the deferred charge on refunding reported in the government-wide statement of net position, and deferred amounts related to pension. The deferred charge on refunding resulted from the difference between the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of the refunded or refunding debt. The deferred amounts related to pension relate differences between estimated and actual investment earnings, changes in actuarial assumptions, and other pension related changes. 14. Leases Lessee: The City has a policy to recognize a lease liability and a right-to-use lease asset (lease asset) in the government-wide financial statements. The City recognizes lease liabilities with an initial, individual value of At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct costs. $10,000 or more. Subsequently, the lease asset is amortized on a straight-line basis over its useful life. 50 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Key estimates and judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease payments. The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate The lease term includes the noncancellable period of the lease. Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure any lease asset and liability if certain changes occur that are expected to significantly affect the Lease assets are reported as right to use along with other capital assets and lease liabilities are reported with Lessor: The City is a lessor for a leases of a building and land at four locations. The City recognizes a lease receivable and a deferred inflows of resources in both the government-wide and fund financial statements. At the commencement of a lease, the City initially measures the lease receivable at the present value of payments expected to be received during the lease term. Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflows of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date. Subsequently, the deferred inflows of resources is recognized as revenue over the life of thel lease term. Key estimates and judgments include how the City determines (1) the discount rate it uses to discount the as the discount rate forl leases. Cityi is reasonably certain to exercise. amount oft the lease liability. long-term debt on the statement ofr net position. expected lease receipts to present value, (2) lease term, and (3) lease receipts. The City uses its estimated incremental borrowing rate as the discount rate for leases. The lease term includes the noncancellable period of the lease. Lease receipts included in the measurement oft the lease receivable is composed off fixed payments from the lessee. The City monitors changes in circumstances that would require a remeasurement of its lease, and will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable. 15. Subscription Based Information Technology Arrangements (SBITA) The City has a policy to recognize a subscription liability and a right-to-use subscription asset (subscription asset) in the government-wide financial statements and proprietary fund financial statements. The City recognizes subscription liabilities with an initial, individual value of $10,000 or more with a subscription term greater than one year. Variable payments based on future performance of the City, usage of the underlying IT asset, or number of user seats are not included in the measurement of the subscription liability, rather, those variable payments are recognized as outflows of resources (expenses) in the period the obligation for those At the commencement of a SBITA, the City initially measures the subscription liability at the present value of payments expected to be made during the subscription term. Subsequently, the subscription liability is reduced Subscription assets are recorded at the amount of the initial measurement of the subscription liabilities, less any payments made to the SBITA vendor before the commencement of the subscription term, and capitalizable initial implementation cost, less any incentives received from the SBITA vendor at or before the commencement payments is incurred. by the principal portion of subscription payments made. of the subscription term. 51 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Costs associated with a SBITA, other than the subscription payments, are accounted for as follows: Preliminary Project Stage: Outlays are expensed as incurred. Initial Implementation Stage: Outlays are capitalized as an addition to the subscription asset. Operation and Additional Implementation Stage: Outlays are expensed as incurred unless they Upon adoption, the City elected to exclude the capitalizable outlays associated with the initial implementation stage and the operation and additional implementation stage that were incurred prior to the implementation of Subscription assets are reported in capital assets and subscription liabilities are reported with long-term Subscription assets are amortized using the straight-line method over the shorter of the subscription term or the useful life of the underlying IT asset, unless the subscription contains a purchase option that the City has determined is reasonably certain of being exercised. In this case, the subscription asset is amortized over the Key estimates and judgments related to SBITA include how the City determines (1) the discount rate it uses to discount the expected subscription payments to present value, (2) subscription term, and (3) subscription meet specific capitalization criteria. this Statement in the measurement of subscription assets as of. July 1, 2022. liabilities on the statement of net position. useful life of the underlying IT asset. payments. The City uses the interest rate charged by the SBITA vendor as the discount rate. When the interest rate charged by the SBITA vendor is not provided, the City generally uses its estimated incremental The subscription term includes the noncancellable period of the SBITA. Subscription payments included in the measurement of the subscription liability are composed of fixed payments and purchase option The City monitors changes in circumstances that would require a remeasurement of its subscription liability and will remeasure if certain changes occur that are expected to significantly affect the amount of the subscription borrowing rate as the discount rate for SBITA. price that the Cityi is reasonably certain to exercise. liability. 16. Implementation of New GASB Pronouncements The requirements of the following accounting standards are effective for the purpose of implementation, if applicable to the City, for the year ended June 30, 2024. The financial statements included herein apply the requirements and provisions of these statements, including necessary retroactive adjustments to financial statement classifications and presentations. Implementation of New GASB Pronouncements for the Year Ended June 30, 2024: GASB Statement No. 100 In. June 2022, GASB issued Statement No. 100, Accounting Changes and Error Corrections = an Amendment of GASB Statement No. 62. The primary objective of this Statement is to enhance accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent, and comparable information for making decisions or assessing accountability. Application oft this statement is effective for The City's fiscal year ending June 30, 2024. 52 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Upcoming Governmental Accounting Standards Implementation: GASB Statement No. 101 In June 2022, GASB issued Statement No. 101, Compensated Absences. The objective of this Statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recognition and measurement guidance under a unified model and by amending certain previously required disclosures. Application of this statement is effective for The City's fiscal year ending June 30, 2025. GASB Statement No. 102 In! December 2023, GASB issued Statement No. 102, Certain Risk Disclosures. The objective of this Statement is_to provide users of government financial statements with essential information about risks related to a government's vulnerabilities due to certain concentrations or constraints which may limit a government's ability to acquire resources or control spending. Application of this statement is effective for the City's fiscal year ending June 30, 2025. GASB Statement No. 103 In December 2023, GASB issued Statement No. Financial Reporting Model Improvements. The objective of this Statement is to improve key components of the financial reporting model to enhance its eftectiveness in providing information that is essential for decision making and assessing a government's accountability. Application of this statement is effective for the City's fiscal year ending June 30, 2026. 53 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 II.F Reconciliation of government-wide and fund financial statements A. Explanation of certain differences between the governmental fund balance sheet and the government-wide. statement of net position The governmental fund balance sheet includes a reconciliation between fund balance-total governmental funds and net postion-govemmenta activities as reported in the government-wide statement of net position. One element of that reconciliation explains that "long-term liabilities, including bonds payable, are not due and payable in the current period and therefore are not reported in the funds." The details of this ($103,526,900) difference are as follows: Pension related items of $99,289,432 (net of $7,811,082 reported in Internal Service Funds) Accrued compensated absences of $5,606,190 (net of $329,078 reported in Internal Service Funds) Accrued SBITA of $1,102,730 (net of $1,080,638 reported in Internal Service Funds) Net adjustment to reduce fund balance-total govemmental funds to arrive at net positon-govemmenta) activities $ 98,227,696 5,277,112 22,092 103,526,900 B. Explanation of certain differences between the governmental fund statement of revenues, expenditures, and changes in fund balances and the government-wide statement of activities The governmental fund statement of revenues, expenditures, and changes in fund balances includes a reconciliation between net changes in fund balances-total govemmental funds and changes in net position of govemmental activities as reported in the government-wide statement of activities. One element of that reconciliation explains Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense." The details of this $5,030,846 difference are as follows: Capital Outlay $ 19,083,552 (14,052,706) 5,030,846 Deprecalonamonizaton expense (net of $7,550,529 reported in Internal Service Funds) Neta adjustment to decrease net changes in fund balance-total govermental funds to arrive at changes ini net postion-govemmenta activities Another element oft that reconciliation states that "The net effect of various miscellaneous transactions involving capital assets (i.e., sales, trade-ins, and donations) is to increase net position." Donated capital assets increase net position in the statement of activities, but do not appear in the governmental funds because they are not financial resources. The details of this $19,083,552 difference are as follows: General government capital asseta additions Internal service fund capital asset additions Donated capital asset additions Net capital outlay $ 60,023,261 (14,649,137) (26,290,572) 19,083,552 54 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Another element of that reconciliation states that "Some expenses reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds." The details of this $5,078,198 difference are as follows: Pension related items (Net of $430,003 reported in Internal Service Funds) Compensated absences (Net of$10,819 reported in Internal SBITA relatedi items (Net of $1,080,638 reported in Internal Net adjustment to decrease net changes in fund balance-total govemmental funds to arrive at changes ini net position-govemmental. activities $ 5,058,172 (2,066) 22,092 5,078,198 Service Funds) III. Stewardship, compliance, and accountability A. Budgetary information Annual budgets are adopted on a basis consistent with generally accepted accounting principles for all On or before the second week of March of each year, all departments of the City submit request for appropriations to the City Manager so that a budget may be prepared. On or before the third Monday in May, the proposed budget is presented to the City council for review. The council holds public hearings and a final The appropriated budget is prepared by fund and department. The City Manager may make transfers of appropriations between departments within a specific fund of up to $5,000 and up to $2,500 from any established reserves. Transfers in excess of those amounts require council action. No action is required at any level lower than the department level. The legal level of budgetary control is the department level. During the year, supplementary appropriations approved by the council were necessary for some departments. governmental funds. All annual appropriations lapse at fiscal year-end. budget must be adopted no later than June 30. B. Deficit fund equity Govemment-Wide Financial Statements adequate to meet current needs. Proprietary Funds At June 30, 2024, deficit unrestricted net position was reported for governmental activities in the amount of $(30,000,695). The deficit is the result of reporting net pension liabilities of $141,586,813 in the government-wide financial statements. City management believes the present cash aggregate position of the General Fund is The Transit Fund has a deficit net position of $(1,316,949) as of. June 30, 2024. The deficit is the result of reporting net pension liabilities of $6,090,234 int the proprietary fund financial statements. City management believes the present cash aggregate position of the Transit Fund is adequate to meet current needs. 55 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 IV. Detailed notes on all funds A. Cash and investments Primary Government: Cash andi investments Cash and investments restricted Fiduciary funds: Cash and investments Cash and investments as of. June 30, 2024 are classified in the accompanying financial statements as follows: $ 345,923,060 227,340 1,160,499 1,059,951 $ 348,370,850 Cash and investments with agent restricted Total cash and investments Fair value of cash and investments based on quoted market prices. The City categorizes its fair value measurements within the fair value hierarchy established by GASB Statement No. 72 Fair Value Measurement and Application. This hierarchy recognizes three tiers, outlined as follows: Level 1: Investments reflect prices quoted in active markets; Level 2: Investments reflect prices that are based on a similar observable asset either directly or indirectly, which may include inputs in markets that are not considered to be active; and, Level 3: Investments reflect prices based upon unobservable sources. The table below presents the fair value measurements of investments recognized in the accompanying statements of net position at. June 30, 2024: Fair Value 8,085 8,700,734 31,626,776 32,250,000 57,393,714 29,748,493 130,043,090 57,312,667 1,287,291 348,370,850 Measurement Input N/A N/A N/A N/A N/A Level2 N/A N/A Cash on hand Deposit with financial institution Investments: Money Market Funds Certificates of Deposit Municipal Securities Corporate Securities U.S. Agency Securities Local Agency Investment Fund (LAIF) Held by Bond Trustee: Money Market Funds Total investment securities classified in Level 2 of the fair value hierarchy are valued using prices determined by the use of matrix pricing techniques maintained by the pricing vendors for these securities. Matrix pricing is used to Investments Authorized by the Califomia Government Code and the City's Investment Policy. The table below identifies the investment types that are authorized for the City of Clovis by the California Government Code (or the City of Clovis investment policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the City of Clovis Investment Policy, where more restrictive) that address interest rate risk, credit risk and concentration of credit risk. This table does not address investments of debt value securities based on the securities' relationship to benchmark quoted prices. 56 CITY OF CLOVIS Notes to Financial Statements Fort the Year Ended June 30, 2024 proceeds held by bond trustee that are governed by the provisions of debt agreements of the City of Clovis, rather than the general provisions of the California Government Code or the City of Clovis' investment policy. Maximum Percentage of Portfolio orA Amount* None None 30% 15% 30% None 30% $2,000,000 $10,000,000 None Maximum Investment or One Issuer orA Amount None None 30% 10% Legal Limit None None $2,000,000 $10,000,000 None Maximum Maturity 3years 3years 180 days 270 days 3years 1year 3years N/A NIA N/A Authorized Investment Type U.S. Treasury Obligations U.S. Agency Securities Bankers Acceptances Commercial Paper Negotiable Certificates of Deposit Repurchase. Agreements Medium-Term Notes Qualified Mutual Funds Money Market Accounts Local Agency Investment Fund (LAIF) Excluding amounts held! by bond trustee that are nots subject to California Government Code restrictions. Investments Authorized by Debt Agreements. Investment of debt proceeds held by bond trustee are governed by provisions oft the debt agreements, rather than the general provisions of the California Government Code or the City's investment policy. The table below identifies the investment types that are authorized for investments held by bond trustee. The table also identifies certain provisions of these debt agreements that address interest Disclosures Relating to Interest Rate Risk. Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure toi interest rate risk is by purchasing a combination of shorter term and longer term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations. The City monitors the interest rate risk inherent in its portfolio by measuring the weighted average maturity of its portfolio. The City investment policy states that no investment can have a maturity in excess of three years unless approved by the rate risk, credit risk, and concentration of credit risk. City Manager. Maximum Percentage of Portfolio None None 30% 15% None None None Maximum Investment or One Issuer None None 30% 10% None None None Maximum Maturity 5years 5y years 180 days 270 days N/A N/A N/A Authorized Investment Type U.S. Treasury Obligations U.S. Agency Securities Bankers Acceptances Commercial Paper Qualified Mutual Funds Money Market Accounts Local Agency Investment Fund (LAIF) Investments with Fair Values Highly Sensitive to Interest Rate Fluctuations. The City's investments do not include any investments that are highly sensitive to interest rate fluctuations (to a greater degree than already Disclosures Relating to Credit Risk. Generally, credit riski is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by (where applicable) indicated in thei information provided above). 57 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 the California Government Code, the City's investment policy, or debt agreements, and the actual rating as of year-end for each investment type. Weighted Average Maturity (in years) N/A 2.91 1.69 4.69 2.52 NIA NIA Investment Type Money Market Funds Municipal Securities Certificates of Deposit Corporate Securities U.S. Agency Securities Local Agency Investment Fund (LAIF) Held by Bond Trustee: Money Market Funds Total Amount 31,626,776 57,393,714 32,250,000 29,748,493 130,043,090 57,312,667 1,287,291 339,662,031 Concentration of Credit Risk. Thei investment policy of the City contains no limitations on the amount that can be invested in any one issuer beyond that stipulated by the California Government Code. Investments in any one issuer (other than U.S. Treasury securities and external investment pools) that represent 5% or more of total City of Clovis' investments are as follows: Reported Amount $ 31,700,000 6,000,000 96,330,000 6,000,000 9,000,000 149,030,000 Percent of Total Invested 21.26% 4.03% 64.64% 4.03% 6.04% Issuer Federal Farm Credit Banks Federal Home Loan Mortgage Co. Federal Home Loan Banks Federal National Mortgage Assoc. Federal Agricultural Mort. Corp. Investment Type Federal Agency Securities Federal Agency Securities Federal Agency Securities Federal Agency Securities Federal. Agency Securities Custodial Credit Risk. Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are int the possession of an outside party. The custodial credit risk fori investments is the risk that, in the event of the failure of the broker or dealer to a transaction, a government will not be able to recover the value of its investments or collateral securities that are in the possession of another party. The California Government Code and the City's investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provisions for deposits: The California Government Code requires that a financial institution secure deposits made by state or local government units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless sO waived by the governmental unit). The market value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies. California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes having a As of. June 30, 2024, no City's deposits with financial institutions in excess of federal depository insurance limits were held in uncollateralized accounts. In addition, as of June 30, 2024, no investments were held by the same value of 150% of the secured public deposits. broker dealer (counterparty) that was used by the City to purchase the securities. 58 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Disclosures Relating to Interest Rate Risk. Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. As of year-end, the average life-month end maturity of Investment in State Investment Pool. The City's investments with Local Agency Investment Fund (LAIF) at June 30, 2024 included a portion of the pooled funds invested in Structured Notes and Assets-Backed Structured Notes are debt securities (other than asset-backed securities) whose cash flow characteristics (coupon rate, redemption amount, or stated maturity) depend upon one or more indices and/or that have Asset-Backed Securities. the bulk of which are mortgage-backed securities, entitle their purchasers to receive a share of the cash flows from a pool of assets such as principal and interest repayments from a pool of As of. June 30, 2024, the City had $57,312,667 invested in LAIF, which had invested 1.40% of the pool investment funds in Structured Notes and Medium-term Asset-Backed Securities and 1.60% of pool investment funds in Short- thei investments contained int thel LAIF investment pool is approximately 260. Securities. These investments included the following: embedded forwards or options. mortgages (such as CMO's) or credit card receivables. term Asset-Backed Commercial Paper. Thef fair value oft the City'sp position int the LAIF pool is the same as the value of the pool shares. The Pooled Money Investment Board provides oversight to the State Treasurer's pooled investment program. The purpose of the board is to design and administer an effective cash management and investment program, using all monies flowing through the State Treasurer's Office bank accounts and keeping all available funds invested in a manner consistent with the goals ofs safety, liquidity, and yield. The Pooled Money Investment Board is comprised of the State Treasurer as chair, the State Controller, and the Director of Finance. The investment program is not The State Treasurer's Office reports its investments at fair value. The fair value of securities in the State Treasurer's pooled investment program generally is based on quoted market prices. The value of the deposits in the State Treasurer's pooled investment program, including the Local Agency Investment Fund, is equal to the dollars Certain funds have elected to participate in the pooled investment program even though they have the authority to make their own investments. Others may be required by legislation to participate in the program; as a result, the deposits of these funds or accounts may be considered involuntary. However, these funds or accounts are part of the State's reporting entity. The remaining participation ini the pool, the Local Agency Investment Fund, is voluntary. Secured property taxes become a lien on the property as of. January 1 and are levied in two equal installments: the first due November 1 and delinquent on December 11, and the second due February 1 and delinquent April 11. Property taxes on unsecured property are due on the lien date of March 1 and become delinquent on September 1. The County of Fresno is responsible for the assessment, collection and apportionment for all registered with the Securities and Exchange Commission as an investment company. deposited int the program. B. Property taxes jurisdictions within the County, including the City. 59 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 C.R Receivables Receivables as of June 30, 2024 for the City's individual major funds and nonmajor, internal service, and fiduciary funds ini the aggregate, are as follows: Total Funds 732,458 4,771,018 4,022,923 Internal Service Funds 42,747 166,850 130,245 Local Nonmajor Governmental Fiduciary Funds 796 1,968 General Transportation Funds Interest $ 74,752 $ 206,791 $ 36,718 $ 318,261 $ 229,182 $ Taxes Loans Accounts Leases 729,203 3,575,670 3,255 12,192 22,644 4,748,374 435,061 4,379,625 $ 664,496 $ 4,800,539 $ 9,844,660 $ 569,024 $ 2,764 Total Proprietary Funds 29,200 1,406,685 Planning & Development Services Community Sanitation 4,824,680 Sewer Disposal 20,537 3,091,226 4,077,453 665,780 Water 8,663 740,905 Transit Interest $ 46,036 $ 114,808 $ 167,710 $ 46,361 $ 26,657 $ 401,572 Loans Accounts Leases 34,237 108,226 12,135,822 4,870,716 $ 3,892,351 $ 4,994,731 $ 80,598 $ 134,883 $ 13,973,279 Lease receivables consists of agreements with cellular network companies and Pacific Gas & Electric for the right to use land at various locations throughout the City. The terms of these arrangements range from 61 to 23 years andt the interest rate on these is calculated. at the City's fiscal year 2024 borrowing rate of 3.032%. This is the All-in True Interest Cost rate derived from the City's most recent bond issuance from fiscal year 2024. The City records any outstanding annual lease income as a deferred inflow on the government-wide financial The annual payments to be received for the lease receivables outstanding at June 30, 2024, are as follows: statements. Lease Receivables Principal 135,230 72,797 77,492 87,236 248,233 378,262 414,364 Year ending June 30, 2025 2026 2027 2028 2029 2030-2034 2035-2039 2040-2043 Total Interest 34,987 31,640 29,838 27,920 117,542 80,740 26,492 Total 170,217 104,437 107,330 115,156 365,775 459,002 440,856 123,317 $ 38,039 $ 161,356 1 1,536,931 $ 387,198 $ 1,924,129 60 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 D.I Interfund receivables, payables and transfers Interfund balances for the purpose of the government-wide financial statements have been eliminated. The composition ofi interfund balances int the fund level statements for the year ended June 30, 2024, is as follows: Interfund transfers: Transfers In Transfers Out Local Transportation Fund Local Transportation Fund General Fund General Fund General Fund Totalt transfers Purpose Amount $ 150,000 1,700,000 114,000 2,580,000 1,000,000 370,000 5,914,000 Community Sanitation Fund Water Service Fund Nonmajor Govemmental Fund Internal Service Fund Internal Service Fund Planning & Development Services Fund Nonmajor Governmental Fund Development capital cost Capital projects Capital projects Capital projects Fleet replacement costs Operating costs Interfund recelvablespayables: Total Amount $ 6,000,000 Advances To Internal Service Fund Water Fund Advances From Purpose Advance for capital project 61 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 E. Capital assets and intangible assets Summary of changes in capital and intangible assets for the year ended June 30, 2024 was as follows: Beginning Balance Retirements/ Adjustments Ending Balance $ 297,987,318 177,427,317 17,879,458 58,482,619 8,458,716 471,940,830 734,188,940 (61,343,529) (7,837,924) (40,042,617) (6,114,924) (185,402,114) (300,741,108) 433,447,832 102,380 1,685,838 682,237 2,470,455 (30,714) (337,919) (48,731) (417,364) 2,053,091 Additions Government activities: Capital assets, not being depreciated: Land Capital assets, being depreciated: Buildings and improvements Direct borrowing buildings Machinery and equipment Direct borrowing equipment Road network Total capital assets being depreciated Less accumulated depreciation for Buildings andi improvements Direct borrowing buildings Machinery and equipment Direct borrowing equipment Road network Total accumulated depreciation Total capital assets, being depreciated, net Intangible assets, being amortized: Software Subscription assets Lease assets Total intangible assets being amortized Less accumulated amortization for Software Subscription assets Lease assets Total accumulated amortization Total intangible assets, being amortized, net Govemmental activities capital assets, net 280,729,414 $ 17,257,904 162,845,426 17,879,458 55,284,743 8,458,716 449,579,667 694,048,010 40,568,121 (56,845,748) (4,497,781) (7,171,729) (37,214,824) (3,231,834) (5,803,239) (172,885,027) (12,517,087) (279,920,567) (21,224,582) 414,127,443 102,380 170,839 273,219 (10,238) (28,473) (38,711) 234,508 14,581,891 3,625,067 $ (427,191) 22,361,163 (427,191) (666,195) (311,685) 19,343,539 1,514,999 682,237 2,197,236 (20,476) (309,446) (48,731) (378,653) 1,818,583 404,041 404,041 (23,150) $ 695,091,365 $ 38,420,026 $ (23,150) $ 733,488,241 62 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Beginning Balance 40,776,635 324,882,181 $ 7,009,889 12,387,730 337,269,911 (113,667,656) (9,401,282) (123,068,938) (7,900,435) 214,200,973 55,225,257 316,673 55,541,930 (27,028,703) (51,621) (27,080,324) (1,682,645) 28,461,606 Ending Balance $ 40,776,635 331,892,070 14,835,259 346,727,329 (120,718,683) (10,088,595) (130,807,278) 215,920,051 58,932,424 316,673 59,249,097 (28,608,107) (154,862) (28,762,969) 30,486,128 Additions Retirements Business-type activities: Capital assets, not being depreciated: Land Capital assets, being depreciated: Buildings andi improvements Machinery ande equipment Total capital assets being depreciated Less accumulated depreciation for Buildings andi improvements Machinery and equipment Total accumulated depreciation Total capital assets, being depreciated, net Intangible assets, being amortized: Water and sewer rights Subscription assets Total intangible assets being amortized Less accumulated amortization1 for Water ands sewer rights Subscription assets Total accumulated amortization Total intangible assets being amortized, net Business-type activities capital assets, net 2,623,451 $ (175,922) 9,633,340 (7,051,027) (849,408) 1,732,905 3,707,167 3,707,167 (1,579,404) (103,241) 2,024,522 (175,922) 162,095 162,095 (13,827) $ 283,439,214 $ 3,757,427 $ (13,827) $ 287,182,814 63 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Deprec.atonamonuzation expense was charged to functions as follows: Governmental activities eprecatonemoruzaton General government Public safety Transportation Community Development Cultural and recreation $ 64,923 118,334 12,594,708 58,506 1,216,235 7,550,529 $ 21,603,235 $ Capital assets held by the government's internal service funds are charged to the various functions based on their usage of the asset Total governmental activities eplecalonamortuzation expense Business-type activities eplecaionemortzaton Community Sanitation Sewer Disposal Water Transit 401,366 5,303,226 3,269,809 13,496 595,183 9,583,080 Planning & Development Services Total business-type activities eprec.ationamontization expense $ Donated assets to governmental activities consisted of $26,290,572 of which the majority is donated to the City by developers for streets. Donated assets to business-type activities consisted of $2,769,840, which represents sewer and water infrastructure donated by developers. Fiduciary funds capital assets Beginning Balance 9,087,336 2,687,521 2,687,521 (1,105,262) $ (75,563) (1,105,262) 1,582,259 Ending Balance $ 9,087,336 2,687,521 2,687,521 (1,180,825) (1,180,825) 1,506,696 0 $ 10,594,032 Additions Retirements Capital assets, not being depreciated: Capital assets, being depreciated: Buildings and improvements Total capital assets being depreciated Less accumulated depreciation for Buildings and improvements Total accumulated depreciation Total capital assets, being depreciated, net Fiduciary funds capital assets, net Land (75,563) (75,563) 10,669,595 $ (75,563) $ Depreciation expense for the year ended June 30, 2024 was $75,563. 64 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30,2024 F. Long-term liabilities Summary of changes in long-term liabilities for the year ended June 30, 2024 was as follows: Classification Due in Due in more One Year than One Year Balance 7/1/2023 12,925,000 $ 548,784 13,473,784 1,908,905 11,370,846 47,182,585 8,423,000 0 115,279 5,597,437 136,924,836 Balance 6/30/2024 528,706 2,775,567 9,077,447 2,155,179 9,213,000 2,548,000 577,017 1,102,730 5,606,190 141,586,813 Additions Reductions Governmental Activities: Revenue bonds Less deferred amounts: (Olscounts/premilums Total bonds payable Loans payable Direct borrowings Deposits & otherl liabilities Claims andj judgments Lease liability Subscription liability Compensated absences Net pension! liability Total govemmental activities 0$ (285,000) $ 12,640,000 $ 300,000 $ 12,340,000 (20,078) (305,078) 13,168,706 (264,968) (2,293,399) (4,294,065) (105,220) (560,288) (2,650,364) 528,706 12,868,706 2,521,680 6,922,268 6,665,000 505,436 528,576 4,641,890 141,586,813 0 1,131,630 0 5,154,473 5,084,065 682,237 1,547,739 2,659,117 4,661,977 300,000 253,887 71,581 574,154 964,300 (869,032) 51,468,026 51,468,026 224,996,672 $ 20,921,238 $ (11,342,414) $ 234,575,496 $ 58,335,127 $ 176,240,369 Classification Due in Due in more One Year than One Year Balance 7/1/2023 9,005,238 93,585,238 1,203,845 5,345,840 1,711,226 220,854 7,543,875 37,799,410 Balance 6/30/2024 8,154,061 5,700,540 1,682,340 117,070 7,133,839 7,133,839 38,537,730 Additions Reductions (851,177) (1,203,845) (1,276,574) (103,784) (5,106,897) Business-Type Activities: Revenue bonds Less deferred amounts: (Discounts/premiums Total bonds payable Contracts payable Landfill closure Compensated absences Subscription liability Deposits & other liabilities Net pension! liability Total business-type activities 84,580,000 $ 12,710,000 $ (18,030,000) $ 79,260,000 $ 5,950,000 $ 73,310,000 8,154,061 81,464,061 5,700,540 1,392,840 9,210 38,537,730 12,710,000 (18,881,177) 87,414,061 5,950,000 354,700 1,247,688 0 4,696,861 738,320 289,500 107,860 147,410,288 $ 19,747,569 $ (26,572,277) $ 140,585,580 $ 13,481,199 $ 127,104,381 Internal service funds predominantly serve the governmental funds. Accordingly, long-term liabilities for them are included as part of the above totals for governmental activities. At year end $329,078 of internal service funds compensated absences are included in the above amounts. Included in deposits and other liabilities in governmental activities are $50,204,166 in developer funded deposits related to streets and $1,263,860 in miscellaneous deposits. Business-type activities include utility customer deposits of $2,119,123 and miscellaneous deposits and other liabilities of $5,014,716. For the governmental activities, accrued compensated absences are generally liquidated by the general fund. In addition, in prior years the employee benefit fund has be used to liquidate pension liabilities. 65 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Governmental activities long-term debt 1. Revenue bonds The City issues revenue bonds to provide funds for the acquisition and construction of major capital facilities. The current bond outstanding has a maturity of 30 years. Revenue bonds at June 30, 2024, consisted of the following: Classification Duei in Due in more Balance 7/1/2023 12,925,000 $ Balance Additions Reductions 6/30/2024 One Year than One Year 0 $ (285,000) $ 12,640,000 $ 300,000 $ 12,340,000 0$(285,000) $ 12,640,000 $ 300,000 $ 12,340,000 2021 landmark square $ 12,925,000 $ Total revenue bonds The annual debt service requirements for the revenue bonds outstanding at June 30, 2024, are as follows: Revenue Bonds Principal 300,000 $ 310,000 325,000 335,000 350,000 1,975,000 2,285,000 2,580,000 2,910,000 1,270,000 12,640,000 $ Year ending June 30, 2025 2026 2027 2028 2029 2030-2034 2035-2039 2040-2044 2045-2049 2050-2051 Total Interest 354,700 $ 342,500 329,800 316,600 302,900 1,292,250 979,732 680,770 344,001 31,997 4,975,250 $ Total 654,700 652,500 654,800 651,600 652,900 3,267,250 3,264,732 3,260,770 3,254,001 1,301,997 17,615,250 66 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 2. Loans payable The City issues loans to provide funds fori improvements at various City buildings. The loans have maturities ranging from 81 to 16 years. Loans payable at. June 30, 2024, are as follows: Original Borrowing 89,729 1,741,854 157,550 195,011 1,131,630 Interest Rates Final Maturity 3.00% 2026 0.00% 2025 1.00% 2035 0.00% 2030 0.00% 2026 0.00% 2026 Outstanding at) Year-end $ 164,928 12,818 1,302,555 91,789 71,847 1,131,630 $ 2,775,567 Governmental Activities 2011 energy loan payable $ 466,715 2016 energy loan payable 2019 energy loan payable 2020 energy loan payable 2020 energy loan payable 2024 energy loan payable Total loans payable The annual debt service requirements for the loans payable outstanding at June 30, 2024, are as follows: Governmental Activities Year ending June 30, Loans Payable Principal $ 253,887 $ 17,091 $ 333,060 233,594 225,354 227,499 1,097,018 405,155 Interest 27,538 20,893 18,869 16,724 51,482 6,248 Total 270,978 360,598 254,487 244,223 244,223 1,148,500 411,403 2025 2026 2027 2028 2029 2030-2034 2035 Total $ 2,775,567 $ 158,845 $ 2,934,412 The following is an analysis oft the assets acquired with the proceeds as of June 30, 2024: Buildings and improvements Less accumulated depreciation $ $ 3,521,408 (1,040,164) 2,481,244 Total 67 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 3. Notes from Direct Borrowings The City issues notes from direct borrowings to provide funds for the acquisition of public safety vehicles and governmental buildings. The maturity dates may range from 5 to 35 years. The City also recognizes an intangible right to use direct borrowing assets. The City recognizes right to use direct borrowings with an initial, individual value of $10,000 or more. Notes from direct borrowings at June 30, 2024, are as follows: Original Borrowing $ 14,377,528 2,454,100 3,000,000 1,795,000 1,810,000 2,000,000 1,460,000 1.00%-3.00% 1,125,000 2,340,000 Interest Rates 3.10% 4.95% 4.00% 1.86% 2.35% 3.48% 3.23% 1.71% Final Maturity 2027 2031 2034 2024 2026 2035 2026 2023 2030 Outstanding at' Year-end $ 3,636,936 1,140,095 1,567,352 0 299,134 1,314,136 96,427 0 1,023,367 9,077,447 Governmental Activities 2014 corp yard 2011 solar project 2013 animal shelter 2014 safety vehicles 2015 PD/fire comm tower 2015 solar project 2016 safety vehicles 2019 safety vehicles 2021 safety vehicles Total direct borrowings *Note: These direct borrowings contain a provision that in an event of default, outstanding amounts become immediately due if the City is unable to make payment. The debt service requirements for the City notes from direct borrowings are as follows: Direct Borrowings Principal 1,903,589 1,811,856 581,248 602,604 1,820,597 202,374 Year ending June 30, 2025 2026 2027 2028 2029 2030-2034 2035-2036 Total Interest 224,133 164,530 114,917 93,559 177,157 7,083 Total 2,127,722 1,976,386 696,165 696,163 1,997,754 209,457 $ 2,155,179 $ 288,254 $ 2,443,433 9,077,447 $ 1,069,633 $ 10,147,080 68 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 The following is an analysis of the land, structures, and equipment of the direct borrowings as of June 30, 2024: Land, structures and equipment Less accumulated depreciation $ 2,057,359 (874,378) $ 1,182,981 Total Business-type activities long-term debt 1. Revenue bonds The City issues revenue bonds to provide funds for the acquisition and construction of major capital facilities. The revenue bonds have maturities of 14-20 years. Revenue bonds at June 30, 2024, consisted of the following: Original Borrowing Interest Rates Final Maturity 2028 2035 2038 2028 Outstanding atYear-end 7,155,000 20,260,000 41,475,000 10,370,000 79,260,000 Busiess-Type Activities: 2013 wastewater revenue refunding bonds 2015 wastewater revenue refunding bonds 2017 wastewater revenue refunding bonds 2024 water revenue refunding bonds Total revenue bonds 12,500,000 2.00%-5.00% 21,600,000 2.00%-3.75% 50,710,000 2.00%-5.00% 31,810,000 2.00%-4.25% The annual debt service requirements for the revenue bonds outstanding at June 30, 2024, are as follows: Busiess-Type Activities: Year ending June 30, 2025 2026 2027 2028 2029 2030-2034 2035-2039 Total Revenue Bonds Principal $ 5,950,000 $ 7,110,000 7,475,000 7,840,000 5,330,000 19,795,000 25,760,000 79,260,000 $ Interest 3,711,706 $ 3,391,431 3,035,256 2,657,188 2,257,188 8,262,247 3,304,913 26,619,929 $ Total 9,661,706 10,501,431 10,510,256 10,497,188 7,587,188 28,057,247 29,064,913 105,879,929 $ The following is an analysis of the improvements made with the proceeds of these bonds as of June 30, 2024: Land, structures and equipment Less accumulated depreciation $ 140,291,752 (56,960,029) 83,331,723 Total 69 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 2013 wastewater revenue refunding bonds In. July 2013, The City issued wastewater revenue refunding bonds in the amount of $12,500,000. The net proceeds of$12,698,281 (after the original issue premium of $596,726 and payment of $398,445 in underwriting fees, insurance, and other issuance costs) from the bonds were used to refund the $13,745,000 aggregate principal amount outstanding on the City's 1998 wastewater bonds. The aggregate debt service payments oft the new debt are $2,519,935 less than the old debt. The bonds have interest rates varying from 2.00% to 5.00% and the final payment is scheduled for August 2028.Thei issuance of the new debt and refunding of the old debt resulted in an economic gain (the difference between the net present value of the old debt and new debt service payments) of approximately $644,000. The wastewater revenue refunding bonds contain an acceleration clause that allows the bondholders to accelerate payment of the entire principal amount to become immediately due if default in payment occurs. 2015 wastewater revenue refunding bonds In August 2015, The City refinanced the 2005 wastewater revenue bonds and issued 2015 wastewater revenue bonds in the amount of $21,600,000. The net proceeds of $22,881,723 (after the original issue premium of $1,652,032 and payment of $370,309 in underwriting fees, insurance, and other issuance costs) from the bonds were used to refund the $24,885,000 aggregate principal amount outstanding on the City's 2005 wastewater bonds. The aggregate debt service payments of the new debt are $10,852,200 less than the old debt. The bonds have interest rates varying from 2.0% to 3.75% and the final payment is scheduled for August 2035. The issuance of the new debt and refunding of the old debt resulted in an economic gain (the difference between the net present value of the old debt and new debt service payments) of approximately $4,410,265. The wastewater revenue bonds contain an acceleration clause that allows the bondholders to accelerate payment of the entire principal amount to become immediately due if default in payment occurs. 2017 wastewater revenue refunding bonds In August 2017, The City refinanced the 2007 wastewater revenue bonds and issued 2017 wastewater revenue bonds in the amount of $50,710,000. The net proceeds of $59,836,790 (after the original issue premium of $9,687,427 and payment of $560,637 in underwriting fees, insurance, and other issuance costs) from the bonds were used to refund the $59,620,000 aggregate principal amount outstanding on the City's 2007 wastewater bonds. The aggregate debt service payments of the new debt are $18,669,931 less than the old debt. The bonds have interest rates varying from 2.0% to 5.0% and the final payment is scheduled for August 2038. The issuance of the new debt and refunding of the old debt resulted in an economic gain (the difference between the net present value of the old debt and new debt service payments) of approximately $8,750,978. The wastewater revenue bonds contain an acceleration clause that allows the bondholders to accelerate payment of the entire principal amount tol become immediately duei if default inj payment occurs. 2024 water refunding revenue refunding bond In September 2023, The City issued water revenue refunding bonds in the amount of $12,710,000. The net proceeds of $13,379,188 (after the originali issue premium of $669,188 and payment of $232,086 in underwriting fees, insurance, and other issuance costs) from the bonds were used to refund the $31,810,000 aggregate principal amount outstanding on the City's 2014 water revenue bonds. The aggregate debt service payments of the new debt are $30,111,596 less than the old debt. The bonds have interest rates varying from 2.0% to 5.0% and the final payment is scheduled for March 2028. The issuance of the new debt and refunding of the old debt resulted in an economic gain (the difference between the present value of the old debt and new debt service payments) of approximately $393,000. The wastewater revenue bonds contain an acceleration clause that allows the bondholders to accelerate payment of the entire principal amount to become immediately due if default in payment occurs. 70 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 2. Contracts payable The City enters into contracts to provide funds to provide sewer services. The City has currently entered into one contract and the contract has a maturity of 30 years. Contracts payable at. June 30, 2024, consisted of the following: Original Borrowing Interest Rates Final Maturity 2024 Outstanding at) Year-end $ $ Business-type Activities Total contracts payable 1993 wastewater renovation 1993 wastewater renovation $ 12,423,873 3.50%-6.25% The City has entered into a contract with the City of Fresno to purchase capacity rights in the form of participation in the cost of sewer system improvements. These improvements include the renovation and expansion oft the Fresno Clovis Regional Wastewater Treatment Plant. The 1993 contract is for the City's share of the 1993 renovation of the Fresno Clovis Regional Wastewater Treatment Plant. The underlying City of Fresno 1993 Revenue Bonds on which the City of Clovis' contract payable amount is based have interest rates varying from 3.50%-6.25% and the final payments are scheduled for September 2023. The City's $12,423,873 share of the renovation is capitalized as an intangible asset in the Sewer Disposal Fund, an enterprise fund, as disclosed in Note IV.E. The City made ai final payment on the 1993 contract in September 2023. 71 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Fiduciary funds long-term debt 1.1 Tax allocation bonds payable 2008 Tax allocation bonds Thet former Clovis Community Development Agency issued tax allocation bonds ini the amount of $19,100,000in April 2008. The interest rates on the 2008 tax allocation bonds vary from 3.00% to 4.75% and the final payment is scheduled for August 2037. Bonds outstanding at January 31, 2012 were $17,445,000 and were transferred to the Successor Agency on February 1,2012 due to the dissolution of the Agency. The balance outstanding at June 30, 2024 is $8,620,000 and is held in the City's Redevelopment Successor Agency Private-purpose Trust Fund. Tax allocation bonds at. June 30, 2024, consisted of the following: Classification Duein Duei in more 7,660,000 (104,247) Balance 7/1/2023 9,535,000 (112,214) 9,422,786 $ Balance (104,247) Additions Reductions 7,967 6/30/2024 One Year than One Year 2008t tax allocation bonds Less (discounts) ont bonds Total tax allocation bonds $ (915,000) $ 8,620,000 $ 960,000 $ 0$ (907,033) $ 8,515,753 $ 960,000 $ 7,555,753 The annual debt service requirements for the tax allocation bonds outstanding at. June 30, 2024, are as follows: Fiduciary Activities: Year ending June 30, 2025 2026 2027 2028 2029 2030-2034 2035-2038 Total Tax Allocation Bonds Interest 379,181 $ 333,972 286,681 237,078 185,163 451,209 115,188 Principal 960,000 $ 995,000 1,050,000 1,095,000 1,150,000 2,190,000 1,180,000 Total 1,339,181 1,328,972 1,336,681 1,332,078 1,335,163 2,641,209 1,295,188 $ 8,620,000 $ 1,988,472 $ 10,608,472 72 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Subscription liability The City has entered into subscription-based information technology arrangements (SBITA) for various administrative and operational purposes. These subscriptions include services related to cloud-based software applications, data storage, and management services. Under the terms of these arrangements, the City does not take possession of the software at any time and the vendor provides ongoing services for the software's operation. The subscription periods vary, with initial non-cancellable terms ranging from 2 to 5 As of June 30, 2024, the capitalized right-to-use assets related to SBITA was $1,509,730 and the total subscription liability was $1,219,800, of which $682,014 is classified as current liability representing the portion due within the next fiscal year. The City recognized $75,989 of interest expense related to these arrangements. years. The calculated interest rate used was 3.032%. SBITAS at June 30, 2024, consisted of the following: Classification Duein Duei ini more 16,120 49,397 4,126 $ Balance 7/1/2023 75,511 30,368 97,601 17,374 220,854 $ Balance 16,120 49,397 13,336 Governmental Activities Passio Tech Remix Tech Spare Labs Urban Trans Total SBITAS Additions Reductions (14,248) (48,204) (4,038) 6/30/2024 One Year than One Year $ (37,294) $ 38,217 $ 38,217 9,210 9,210 0$ (103,784) $ 117,070 $ 107,860 $ Classification Duei in Duei in more 99,037 $ 10,911 Balance 7/1/2023 115,279 Balance 6/30/2024 One Year than One Year 200,525 821,769 405,862 22,092 Business-Type. Activities VMI Ware ESRI Microsoft 365 Cartegraph Total SBITAS Additions $ 297,170 1,217,829 32,740 Reductions (96,645) (396,060) (10,648) (56,935) $ 58,344 $ 58,344 101,488 415,907 11,181 528,576 115,279 $ 1,547,739 $ (560,288) $ 1,102,730 $ 574,154 $ Principal and interest payments to maturity are as follows: SBITAS Interest 30,216 $ 13,367 192 Year ending June 30, 2025 2026 2027 Total Principal 682,014 $ 533,017 4,769 1,219,800 $ Total 712,230 546,384 4,961 $ 43,775 $ 1,263,575 73 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Lease liability The City entered a contract to provide workspace for various departments. The City has currently entered one contract and the contract has ar maturity of7 years. The calculated interest rate used was 3.032%. As of June 30, 2024, the capitalized assets related to lease liabilities was $633,506 and the total lease liability was $577,017, of which $71,581 is classified as current liability representing the portion due within the next fiscal year. The City recognized $13,937 of interest expense related to these arrangements. Lease liabilities at. June 30, 2024, consisted of the following: Classification Duei in Duei ini more One Year than One Year Balance 7/1/2023 Balance 6/30/2024 Additions Reductions Governmental, Activities ProAg- IT Building $ Totall leases 0 $ 682,237 $ (105,220) $ 577,017 $ 71,581 $ 505,436 0 $ 682,237 $ (105,220) $ 577,017 $ 71,581 $ 505,436 Principal and interest payments to maturity are as follows: Governmental Activities Year ending. June 30, 2025 2026 2027 2028 2029 2030 Total Leases Payable Principal 111,741 121,131 127,252 134,090 11,222 Interest 9,509 6,583 3,510 270 Total 121,250 127,714 130,762 134,360 11,222 71,581 $ 12,207 $ 83,788 577,017 $ 32,079 $ 609,096 74 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 G. Landfill closure The City has recorded liabilities for landfill closure, post-closure maintenance and for landfill corrective action in the Community Sanitation Fund, an enterprise fund. The State of California performs an annual analysis to determine estimated total cost of the landfill closure, post-closure care costs, total capacity and remaining life. The City's landfill closure liability, based on landfill capacity used to date, is recorded based on the information provided by their analysis. The landfill corrective action liability is based on the estimated cost of known or The City is currently estimating at June 30, 2024 that the capacity of the landfill used is approximately 39%, the estimated remaining life is approximately 33 years and the estimated remaining cost to be recognized is $23,131,721. The estimated capacity remaining is 6,064,431 cubic yards and the estimated landfill closure liability is $5,700,540. The current estimated cost of known and/or reasonably foreseeable corrective action is $4,988,340 and the City currently has $1,000,000 set aside for this purpose. These estimates are based on a closure and post-closure maintenance plan and corrective action plan. The estimates have been adjusted for reasonably foreseeable corrective action that may be required at the facility. inflation and other factors such as technology and laws and regulations. H. Pension Plans Plan Description General Information about the Pension Plan The City contributes to the California Public Employees' Retirement System (CalPERS), an agent multiple-employer public employee defined benefit pension plan. CalPERS acts as a common investment and administrative agent for participating publice entities within the State of Califoria. Benefit provisions and all other requirements are established by state statute and City ordinance. A full description of the pension plan regarding number of employees covered, benefit provisions, assumptions (for funding, but not accounting purposes), and membership information are listed in the. June 30, 2023 Annual Actuarial Valuation Report. This report and CalPERS' audited financial statements are publicly available reports that can be obtained at CalPERS' website under Forms and Publications. Benefit Provided CalPERS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. A classic miscellaneous member becomes eligible for Service Retirement upon attainment of age 55 with at least 5 years of credited service. PEPRA miscellaneous members become eligible for service retirement upon attainment of age 62 with at least 5 years of service. A classic safety member becomes eligible for Service Retirement upon attainment of age 50 with at least 5 years of credited service. PEPRA safety members become eligible for service retirement upon attainment of age 57 with at least 5 years ofs service. The service retirement benefit is a monthly allowance equal to the product oft the benefit factor, years ofservice, and final compensation. The final compensation is the monthly average of the member's highest 36 or 12 consecutive months' full-time equivalent monthly pay. Retirement benefits for classic miscellaneous employees are calculated as 2.7% of the average final 12 months compensation. Retirement benefits for PEPRA miscellaneous employees are calculated as 2% of the highest average annual compensation over a three-year period. Retirement benefits for classic safety employees are calculated as 3% of the average highest 12 months compensation. Retirement benefits for PEPRA safety employees are calculated as 2.7% of the Participants are eligible for non-industrial disability retirement if they become disabled and have at least 5 years of credited service. There is no special age requirement. The standard non-industrial disability retirement benefit isa monthly allowance equal to 1.8 percent of final compensation, multiplied by service. Industrial disability benefits are not offered to miscellaneous employees. The City provides industrial disability retirement benefits to safety employees. The industrial disability retirement benefit is a monthly allowance equal to 50 percent of average highest 36 months compensation. highest compensation. 75 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 An employee's beneficiary may receive the basic death benefit if the employee dies while actively employed. The employee must be actively employed with the City to be eligible for this benefit. An employee's survivor who is eligible for any other pre-retirement death benefit may choose to receive that death benefit instead of this basic death benefit. The basic death benefit is a lump sum in the amount of the employee's accumulated contributions, where interest is currently credited at 7.375 percent per year, plus a lump sum in the amount of one month's salary for each completed year of current service, up to a maximum of six months' salary. For purposes of this benefit, one month's salary is defined as the member's average monthly full-time rate of Benefit terms provide for annual cost-of-living adjustments to each employee's retirement allowance. Beginning the second calendar year after the year of retirement, retirement and survivor allowances will be annually compensation during the 12 months preceding death. adjusted by 2 percent applied to the original retirement allowance. Employees Covered by Benefit Terms Employee information Active employees Total Contributions At June 30, 2023, the measurement date, the following employees were covered by the benefit terms: Plans 539 780 360 1,679 Miscellaneous Safety 175 74 199 448 Transferred and terminated employees Retired Employees and Beneficiaries For ther measurement period ended June 30, 2023, contributions were as follows: Aggregate Total 16,407,066 Miscellaneous Safety Contributions employer 6,599,704 $ 9,807,362 $ Section 20814(c) of the California Public Employees' Retirement Law ("PERL") 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. The total plan contributions are determined through CalPERS' annual actuarial valuation process. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. The contributions for the measurement period were as follows: Actuarial Methods and Assumptions Used to Determine Total Pension Liability For the measurement period ended June 30, 2023, the total pension liability was determined by rolling forward the June 30, 2022 total pension liability. The June 30, 2023 total pension liability was based on the following actuarial methods and assumptions: 76 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Actuarial Methods and Assumptions Used to Determine Total Pension Liability Actuarial Cost Method Actuarial Assumptions: Discount Rate Inflation Salary Increases Investment Rate of Return Mortality Rate Table Post Retirement Benefit Increase Entry Age Normal 6.90% 2.30% Varies by Entry Age and Service Expenses; includes Inflation 7.00% Net of Pension Plan investment and Administrative Derived using CalPERS' Membership Data for all Funds Contract COLA up to 2.0% until Purchasing Power Protection Allowance Floor on Purchasing Power applies, 2.30% thereafter The Experience Study report can be obtained at CalPERS' website under Forms and Publications. Discount Rate In Fiscal Year 2021-22, the discount rate was lowered from 7.15 percent to 6.90 percent. The last adjustment to the discount rate was in fiscal year 2016-17 when it was lowered from 7.65 percent to 7.15 percent in fiscal year. The funding discount rate includes a 15 basis-point reduction for administrative expenses, and the remaining decrease is consistent with the change in the financial reporting discount rate. Long-term Expected Real Rates of Return by Asset Class The table below reflects long-term expected real rates 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. These geometric rates of return are net of administrative expenses. Assumed. Asset Allocation 30.00% 12.00% 13.00% 5.00% 5.00% 10.00% 5.00% 5.00% Asset Class' Global Equity Cap-weighted Global Equity Non-Cap-weighted Private Equity Treasury Mortgage-Dacked Securities investment Grade Corporates High Yields Emerging Market Debt Securities. Real Return 4.54% 3.84% 7.28% 0.27% 0.50% 1.56% 2.27% 2.48% 'In the Basic Financial Statements, Fixed Income is included in Global Debt Securities; Liquidity is included in Short-Term Investments; Inflation Assets are included in both Global Equity Securities and Global Debt 2An expected inflation of2 2.30% used fort this period. Figures are based on the 2021-22 Asset Liability Management study. Pension Expense Thel Net Pension Expense for the year ended. June 30, 2024 is itemized as follows: Net Pension Expense 3,222,868 3,835,107 7,057,975 Miscellaneous Plan Safety Plan 77 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Changes in the Net Pension Liability Miscellaneous Plan The following table shows the changes in net pension liability recognized over the measurement period. Increase (Decrease) Position Total Pension Plan Fiduciary Net Net Pension 262,535,660 $ 187,202,646 $ 75,333,014 Liability 6,426,053 18,016,529 255,095 752,648 Liability/Asset) Balance at. June 30, 2022 (Valuation Date) Changes Recognized for the Measurement Period: Service Cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience Contributions from the employer Contributions from employees Neti investment income Benefit payments, including refunds of employee contributions Adminstrative expense Net Changes during July 1, 2022 to. June 30, 2023 Balance at. June 30, 2023 (Measurement Date) 6,426,053 18,016,529 255,095 752,648 (6,599,704) (5,805,722) (11,733,448) 137,660 1,449,111 6,599,704 5,805,722 11,733,448 (11,294,672) (137,660) (11,294,672) 14,155,653 $ 12,706,542 $ 276,691,313 $ 199,909,188 $ 76,782,125 Total Pension Plan Fiduciary Net Net Pension 274,179,424 $ 174,788,192 $ 99,391,232 Safety Plan Increase (Decrease) Position Liability 6,574,473 18,927,029 102,156 3,108,774 Liability/(Asset) Balance at. June 30, 2022 (Valuation Date) Changes Recognized for the Measurement Period: Service Cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience Contributions from the employer Contributions from employees Neti investment income Benefit payments, including refunds of employee contributions Adminstrative expense Net Changes during July 1, 2022 to June 30, 2023 Balance at. June 30, 2023 (Measurement Date) 6,574,473 18,927,029 102,156 3,108,774 (9,807,362) (4,184,407) (10,898,008) 128,531 3,951,186 9,807,362 4,184,407 10,898,008 (12,745,618) (128,531) (12,745,618) 15,966,814 $ 12,015,628 $ 290,146,238 $ 186,803,820 $ 103,342,418 78 CITY OF CLOVIS Notes to Financial Statements Fort the Year Ended June 30, 2024 Sensitivity oft the Net Pension Liability to Changes int the Discount Rate The following presents the net pension liability of the Plan as of the measurement date, calculated using the discount rate of 6.90 percent, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage-point lower (5.90 percent) or 1 percentage-point higher (7.90 percent) than the current rate: Plan's Net Pension Liability/(Asset) Current Discount Rate (6.90%) 76,782,125 $ 180,124,543 $ Discount Rate 1% (5.9%) 114,793,038 $ 258,694,986 $ Discount Rate + 1% (7.90%) 45,437,195 67,770,536 113,207,731 Miscellaneous Plan $ Safety Plan Aggretate Total $ $ 143,901,948 $ 103,342,418 $ Pension Plan Fiduciary Net Position Detailed information about the plan's fiduciary net position is available in the separately issued CalPERS financial report. Deferred Outflows and Deferred Inflows of Resources Related tol Pensions Deferred Outflows of Resources Deferred employer pension contributions made after measurement date Investment eamings Differences between Total pension-related Changes inassumpions lesst than actual versus expectede earnings expected experience deferredoutlows Miscellaneous Plan $ Safety Plan Total 7,027,464 $ 10,457,046 17,484,510 $ 3,938,373 $ 6,256,077 10,194,450 $ 8,930,761 $ 8,421,676 17,352,437 $ 537,606 $ 20,434,204 3,030,122 3,567,728 $ 48,599,125 28,164,921 $ The City reported $7,027,464 and $10,457,046 as deferred outflows of resources related to contributions for the miscellaneous and safety plan, respectively, subsequent to the measurement date that will be recognized as a reduction of the net pension liability int the year ending June 30, 2024. Deferred Inflows of Resources Investment earnings less than expected earnings Differences between actual versus expected experience Total pension-related deferred inflows Changes inas assumptions Miscellaneous Plan $ Safety Plan Total 0 $ 0 $ 0 $ 0 $ (903,442) $ (2,292,382) (3,195,824) $ (903,442) (2,292,382) (3,195,824) 79 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 Amortization of deferred outfows/Iinflows) ofr resources recognized int future pension expense as follows: Other amounts reported as deferred outflows and deferred inflows of resources related to pensions willl be Measurement Period Ended June 30 2024 2025 2026 2027 Deferred Outtiows/Infiows) of Resources Miscellaneous Plan Safety Plan 3,964,241 2,943,822 7,697,414 810,016 15,415,493 3,717,082 $ 2,332,038 6,213,533 240,645 12,503,298 $ $ Payable to Pension Plan At. June 30, 2024, the City reported a payable of $01 for the outstanding amount of contributions to the pension plan required for the year ended. June 30, 2024. I.Tax Abatements The City has not entered into any. tax abatement agreements as of June 30, 2024. However, the County of Fresno (County) has provided certain tax abatements that affect the property tax revenues of the City. The County provides property tax abatements through the California Land Conservation (Williamson) Act of 1965. The program enrolls land in Williamson Act or Farmland Security Zone contracts within established agricultural preserves, whereby the landi is restricted to agricultural or qualified recreational uses in exchange for reduced property tax assessments. The Williamson Act Program is administered according to the statute and the County's Interim Program Guidelines adopted by the County's Board of Supervisors. The County's Assessor administers the property tax reduction that parcels enrolled in the program receive. Parcels enrolled in the Williamson Act Program are assessed for property tax purposes at a rate consistent with their actual use, rather than the market value of the property. The minimum contract term for the Williamson Act is ten years and fort the Farmland Security Zone is twenty years. Both, the Williamson Act and the Farmland Security Zone contracts automatically renew until a notice of non-renewal or a certificate of cancellation is recorded. Under the non- renewal process, the annual tax assessment gradually increases over a defined period of time until the assessment reflects the market value of the property. Under the cancellation process, a onetime cancellation fee is assessed based upon a certain percentage of the unrestricted, current fair market value of the property. For the fiscal year ended June 30, 2024, the County's Williamson Act Program tax abatements were $67,648,947. The City's affected portion of property tax revenues (approx. 1.9%) is, therefore, $1,285,330. V.Other information A. Self insurance The City is self-insured for general liability, automobile liability, workers' compensation, group dental and group vision programs. The City is responsible for all claims up to $5,000 per occurrence for automobile liability, $5,000 per occurrence for property, $250,000 per occurrence for workers' compensation, and $100,000 per occurrence on general liability. The dental and vision programs have no individual per occurrence stop-loss and no aggregate annual stop-loss. Excess insurance for all amounts in excess of the self-insured retention in the workers' compensation program is purchased from Local Agency Workers' Compensation Excess JPA (LAWCX). Consistent with the LAWCX Memorandum of Coverage, LAWCX provides coverage for the City above its self-insured retention of $250,000 up to $5,000,000. LAWCX purchases excess insurance which covers the pool forl losses from $5,000,000 to statutory limits. 80 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 The City is a member of the Central San Joaquin Valley Risk Management Authority (RMA) for the purpose of pooling general liability coverage under a retrospectively rated Memorandum of Coverage. Deposit premiums to the RMA are based on actuarially determined claims costs, including incurred but not reported claims, and expenses. Premiums are accrued based on the ultimate cost determined by the experience to date of the pool's member cities. The risk pool covers the City above its self-insured retention of $100,000 up to $1,000,000. The Authority purchases excess insurance which covers the pool for losses from $1,000,001 to $34,500,000. Pool Members may receive rebates when declared by RMA or, in the event excess liability claims against RMA exceed available resources, may be required to make additional contributions through a retrospective The City accounts for the self-insurance programs in the Self-Insurance Fund and Employee Benefits Fund, bothi internal service funds. Charges to user departments are reported as interfund transactions. Incurred but not reported claims have been accrued as a liability for the workers' compensation and dental programs as required in the amount of $4,490,850 based on previous claims experience and actuarial studies. There were no reductions in insurance coverage from the prior year and there were no settlements that exceeded insurance coverage for the past three fiscal years. Following is a reconciliation of the changes in the adjustment process. City'sa aggregate liabilities for claims for the current and prior fiscal year: Workers' Compensation $ 8,673,000 $ 3,150,811 (3,448,811) 8,375,000 4,652,367 (3,862,367) 9,165,000 $ Dental 48,000 $ 354,695 (354,695) 48,000 431,698 (431,698) 48,000 $ Total 8,721,000 3,505,506 (3,803,506) 8,423,000 5,084,065 (4,294,065) 9,213,000 Balance, 06/30/22 Claims provision Claims paid Balance, 06/30/23 Claims provision Claims paid Balance, 06/30/24 B. Deferred compensation The City has established a deferred compensation plan in accordance with Internal Revenue Code Section 457. The plan, available to all full time employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts deferred under the plan and all income attributable Semi-monthly the City forwards all contributions to the plan administrator, the ICMA Retirement Corporation. Plan participants may choose from investment options which are managed by the plan trustee. The City has no liability for losses under the plan. As of January 1, 1998 ICMA Retirement Corporation amended the agreement with the City to comply with IRC Section 457 regulations. The assets and related liabilities are not reported on the City's financial statements in accordance with Governmental Accounting Standards Board Statement No. 32- Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation tot those amounts are solely the property and rights of the plan participants. Plans." 81 CITY OF CLOVIS Notes to Financial Statements For the Year Ended June 30, 2024 C.F Postretirement benefits The City allows its retirees who retire under provisions of a regular service retirement and who have five years ofservice the opportunity to continue enrollment in the City's health insurance program until age 65. The retirees have the same choice of insurance plans as those of current employees. The retirees are pooled together separately from the active employee pool and pay the full cost of the insurance premiums without cost to the City. D.C Contingent liabilities The City participates in a number of federally assisted grant programs, including those from the U.S. Department of Housing and Urban Development, U.S. Department of Justice, U.S. Department of Transportation, U.S. Department of Labor, U.S. Department of Health and Human Services and the U.S. Department of Homeland Security. Receipts from these grant programs are subject to audit to determine if the monies were expended in accordance with the appropriate statutes, grant terms and regulations. The City believes no significant liabilities will result. E.Claims and litigation The City is directly and indirectly involved in various suits relating principally to claims arising from construction contracts, personal injury, and property damage. In the opinion of the City Attorney and City's management, potential claims against the City resulting from such litigation, not covered by insurance, would not materially affect the basic financial statements of the City. As a result, no liability has been accrued by the City relating to these matters as of June 30, 2024. F.S Subsequent events In August 2024, the Clovis City Council voted to place Measure Y on the November 2024 ballot. Measure Yis 1% sales and use tax measure that, if approved by voters, will provide al local source of funding that the City will be able to use to pay for services such as public safety, repairs to streets, youth programs, parks, programs addressing homelessness, retaining local small businesses/jobs, and other general services. If passed, it is estimated that the sales tax measure would provide approximately $28 million annually until ended by voters. The tax is considered a general tax and requires over 50% of voters to approve it to pass. Initial projections show the measure passing, but the results have not been officially certified by the County of Fresno. 82 (This page is intentionally left blank) 83 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Changes in Net Pension Liability and Related Ratios California Public Employees' Retirement System (CalPERS)- - Miscellaneous Plan Last Ten Fiscal Years 2022-23 18,016,529 255,095 752,648 (11,294,672) (10,665,437) 14,155,653 Measurement period Totalp pension liability Service Cost Interest ont thet total pensionl liablity Changes ofb benefitt terms Changes ofa assumptions Difference betweene expected and actuale experience Benefitp pmts,i includingr refunds ofe employee contributions Net changei int totalp pension! liability Total pensionl liability- beginning Totalp pensionl liability- ending (a) Planf fiduciary net position Contributions- employer Contributions- employee Neti investmenti income Benefitp pmts, induding refunds ofe employee contributions Net Plant top planr resourcer movement Administrative expense Otherr miscellaneous incomellexpense)" Net changei inf fiduciary net position Plant fiduciary netp position- beginning Planf fiduciary netp position-e ending (b) Plan net pension! liability. ending (a)- -(b) Planf fiduciary netp position as ap percentage ofthet total pension liability Covered payrol" 2021-22 17,090,128 8,861,339 (1,967,582) 19,508,909 2020-21 16,367,097 (202,740) (9,884,689) (9,261,642) 11,662,759 2019-20 15,572,381 1,939,655 13,504,179 2018-19 14,655,898 3,417,850 (8,604,933) 14,526,392 6,426,053 $ 6,190,461 $ 5,383,091 $ 5,253,785 $ 5,057,577 262,535,660 243,026,751 231,363,992 217,859,813 203,333,421 $276,691,313 $ 262,535,660 $243,026,751 $ 231,363,992 $217,859,813 $ 6,599,704 $ 6,561,636 $ 5,805,693 $ 4,995,682 $ 4,051,371 5,805,722 11,733,448 (15,397,968) 37,384,459 (11,294,672) (10,665,437) (137,660) 5,265,755 (125,562) 5,025,645 (9,884,689) (9,261,642) (163,223) 4,832,063 7,851,765 (218,790) 8,199,078 4,994,620 9,653,940 (8,604,933) (103,622) 337 9,991,713 12,706,542 (14,361,576) 38,167,885 187,202,646 201,564,222 163,396,337 155,197,259 145,205,546 199,909,188 S 187,202,646 $201,564,222 163,396,337 $1 155,197,259 76,782,125 $ 75,333,014 $ 41,462,529 $ 67,967,655 $ 62,662,554 34,604,484 $ 33,086,378 $ 31,572,381 $ 30,228,914 $ 28,646,712 72.25% 221.88% 71.31% 227.69% 82.94% 131.33% 70.62% 224.84% 71.24% 218.74% Planr net pension! liability asa a%ofc covered payroll 'During Fiscal Year 2017-18, as a result of Governmental Accounting Standards Board Statement (GASB) No. 75, Accounting and Financial Reporting for Postemployment Benefit Plans Other than Pensions (GASB 75), CalPERS reported its proportionate share of activity related to postemployment benefits for participation in the State of California's agent OPEB plan. Accordingly, CalPERS recorded a one-time expense as a result of the adoption of GASB 75. Additionally, CaIPERS employees participate in various State of California agent pension plans and during Fiscal Year 2017-18, CalPERS recorded a correction to previously reported financial statements to properly reflect its proportionate share of activity related to pensions in accordance with GASB Statement No. 68, Accounting and Financial Reporting for 3Includes one year's payroll growth using 2.75 percent payroll growth assumption for fiscal years ended June 30, 2018- Benefit Changes: The figures above include any liability impact that may have resulted from voluntary benefit changes that occurred after the June 30, 2019 valuation. However, offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes) that occurred after the June 30, 2019 valuation date are noti included in the figures above, unless the liability Changes of Assumptions: In November 2021, the inflation and administrative expense assumptions were reduced which resulted in a discount rate reduction from 7.15 percent to 6.90 percent. None in 2019 or 2020. There were no changes in the discount rate. In 2017, the discount rate was reduced from 7.65 percent to 7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense). In 2014, amounts reported were Pensions (GASB 68). Includes any beginning of year adjustment 20; 3.00 percent payroll growth assumption fort fiscal years ended June 30, 2014-17. Notes to Schedule of Changes in Net Pension Liability and Related Ratios: impact is deemed to be material by the plan actuary. based on the 7.5 percent discount rate. 84 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Changes in Net Pension Liability and Related Ratios California Public Employees' Retirement System (CalPERS)- Miscellaneous Plan Last Ten Fiscal Years 2017-18 13,670,020 (1,271,290) 2,414,711 (7,837,606) 11,762,079 Measurement period Total pensionl liability Service Cost Interest ont thet total pensionl liability Changes oft benefitt terms Changes ofa assumptions Difference between expected and actuale experience Benefitp pmts, induding refunds ofe employee contributions Net changei int total pensionl liability Total pension! liability- beginning Total pension liability ending (a) Planf fiduciary net position Contributions- employer Contributions- 6 employee Neti investmenti income Benefitp pmts, induding refunds ofe employee contributions Net Plani top planr resource movement Administrative expense Other miscellaneous income/lexpense)" Net changei inf fiduciary net position Planf fiduciary net position- beginning Planf fiduciary net position- ending (b) Planr net pension liability- ending (a)- (b) Plan fiduciary net position as a percentage oft thet total pension liability Covered payrol" 2016-17 12,863,057 10,936,836 812,258 (6,970,312) 22,222,920 2015-16 12,118,925 898,210 (6,395,433) 10,641,509 2014-15 11,339,870 (2.825,475) 265,438 (5,572,456) 7,046,741 2013-14 10,627,308 (5,099,721) 9,298,140 4,786,244 $ 4,581,081 $ 4,019,807 $ 3,839,364 $ 3,770,553 191,571,342 169,348,422 158,706,913 151,660,172 142,362,032 203,333,421 $ 191,571,342 $ 169,348,422 $ 158,706,913 151,660,172 3,326,932 $ 3,204,896 $ 2,918,817 $ 3,275,626 $ 3,096,889 4,295,547 11,445,035 (7,837,606) (337) (209,719) (398,260) 10,621,592 4,080,143 13,602,008 (6,970,312) (178,420) 13,738,315 4,002,625 705,624 (6,395,433) (72,943) 1,158,690 3,097,353 2,655,292 (5,572,456) (134,636) 3,321,179 2,553,852 17,261,431 (5,099,721) 17,812,451 98,553,319 134,583,954 120,845,639 119,686,949 116,365,770 145,205,546 $1 134,583,954 120,845,639 $ 119,686,949 116,365,770 58,127,875 $ 56,987,388 71.41% 218.02% 48,502,783 $ 39,019,964 $ 35,294,402 70.25% 224.39% 71.36% 198.74% 75.41% 171.03% 76.73% 166.29% 26,661,340 $ 25,396,835 $ 24,405,359 $ 22,815,330 $ 21,224,617 Plan net pension liability as a%0 ofc covered payroll 'D During Fiscal Year 2017-18, as a result of Governmental Accounting Standards Board Statement (GASB) No. 75, Accounting and Financial Reporting for Postemployment Benefit Plans Other than Pensions (GASB 75), CalPERS reported its proportionate share of activity related to postemployment benefits for participation in the State of California's agent OPEB plan. Accordingly, CalPERS recorded a one-time expense as a result of the adoption of GASB 75. Additionally, CalPERS employees participate in various State of California agent pension plans and during Fiscal Year 2017-18, CalPERS recorded a correction to previously reported financial statements to properly reflect its proportionate share of activity related to pensions in accordance with GASB Statement No. 68, Accounting and Financial Reporting for 3Includes one year's payroll growth using 2.75 percent payroll growth assumption for fiscal years ended June 30, 2018- Benefit Changes: The figures above include any liability impact that may have resulted from voluntary benefit changes that occurred after the June 30, 2019 valuation. However, offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes) that occurred after the. June 30, 2019 valuation date are not included in thet figures above, unless the liability Changes of Assumptions: In November 2021, the inflation and administrative expense assumptions were reduced which resulted in a discount rate reduction from 7.15 percent to 6.90 percent. None in 2019 or 2020. There were no changes in the discount rate. In 2017, the discount rate was reduced from 7.65 percent to 7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense). In 2014, amounts reported were Pensions (GASB 68). 2Includes any beginning of year adjustment 20; 3.00 percent payroll growth assumption for fiscal years ended June 30, 2014-17. Notes to Schedule of Changes in Net Pension Liability and Related Ratios: impact is deemed to ber material by the plan actuary. based on the 7.5 percent discount rate. 85 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Changes in Net Pension Liability and Related Ratios, Continued California Public Employees' Retirement System (CalPERS). - Safety Plan Last Ten Fiscal Years 2022-23 Measurement period Total pension liability Service Cost Interest ont thet total pension liability Changes ofbenefit terms Changes ofa assumptions Difference between expected anda actual experience Benefit pmts, including refunds ofe employee contributions Net change int total pensionl liability Totalp pension liability beginning Total pension liability ending (a) Plan fiduciary net position Contributions employer Contributions employee Net investmenti income Benefit pmts, including refunds ofe employee contributions Net Plan top plan resourcer movement Administrative expense Otherr miscellaneous income/lexpense)" Neto change int fiduciary net position Planf fiduciary net position beginning Plant fiduciary net position- ending (b) Plan net pension liability ending (a)-(b) Plani fiduciary netp position asa percentage oft the total pension liability Covered payroll" 2021-22 2020-21 2019-20 2018-19 6,574,473 $ 6,423,279 $ 5,626,832 $ 5,692,902 $ 5,508,074 18,927,029 17,891,502 17,172,665 16,528,674 15,548,223 3,108,774 (2,813,898) (1,871,462) 3,334,764 (12,745,618) (12,441,687) (11,535,391) (11,085,026) (10,456,706) 15,966,814 19,783,901 9,392,644 14,471,314 14,126,419 274,179,424 254,395,523 245,002,879 230,531,565 216,405,147 $290, 146,238 $274,179,424 $254,395,523 $245,002,879 $230,531,565 9,807,362 $ 8,991,444 $ 7,861,821 $ 6,966,114 $ 5,912,775 (12,745,618) (12,441,687) (11,535,391) (11,085,026) (10,456,706) 102,156 10,724,705 3,526,827 4,184,407 (128,531) 3,677,476 (117,834) 3,509,463 (154,108) 3,314,861 7,391,522 (208,492) 6,378,979 3,219,394 9,280,425 (99,933) 325 7,856,280 10,898,008 (14,479,614) 35,205,099 12,015,628 (14,370,215) 34,886,884 174,788,192 189,158,407 154,271,523 147,892,544 140,036,264 $186,803,820 $174,788,192 $189,158,407 $154,271,523 $147,892,544 $103,342,418 $ 99,391,232 $ 65,237,116 $ 90,731,356 $ 8 82,639,021 $20,759,310 $ 19,923,322 $ 19,061,084 $ 19,148,678 $ 18,354,740 64.38% 497.81% 63.75% 498.87% 74.36% 342.25% 62.97% 473.83% 64.15% 450.23% Plan net pension liability asa %0 of covered payroll 'During Fiscal Year 2017-18, as a result of Governmental Accounting Standards Board Statement (GASB) No. 75, Accounting and Financial Reporting for Postemployment Benefit Plans Other than Pensions (GASB 75), CalPERS reported its proportionate share of activity related to postemployment benefits for participation in the State of California's agent OPEB plan. Accordingly, CalPERS recorded a one-time expense as a result of the adoption of GASB 75. Additionally, CalPERS employees participate in various State of California agent pension plans and during Fiscal Year 2017-18, CalPERS recorded a correction to previously reported financial statements to properly reflect its proportionate share of activity related to pensions in accordance with GASB Statement No. 68, Accounting and Financial Reporting for 3Includes one year's payroll growth using 2.75 percent payroll growth assumption for fiscal years ended June 30, 2018- Benefit Changes: The figures above include any liability impact that may have resulted from voluntary benefit changes that occurred after the June 30, 2019 valuation. However, offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes) that occurred after the. June 30, 2019 valuation date are noti included in the figures above, unless the liability Changes of Assumptions: In November 2021, the inflation and administrative expense assumptions were reduced which resulted in a discount rate reduction from 7.15 percent to 6.90 percent. None in 2019 or 2020. There were no changes in the discount rate. In 2017, the discount rate was reduced from 7.65 percent to 7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense). In 2014, amounts reported were Pensions (GASB 68). 2Includes any beginning ofy year adjustment 20; 3.00 percent payroll growth assumption for fiscal years ended June 30, 2014-17. Notes to Schedule of Changes in Net Pension Liability and Related Ratios: impact is deemed to be material by the plan actuary. based on the 7.5p percent discount rate. 86 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Changes in Net Pension Liability and Related Ratios, Continued California Public Employees' Retirement System (CalPERS)- Safety Plan Last Ten Fiscal Years 2017-18 14,583,496 (626,378) 11,813,770 1,258,478 (9,686,731) 10,928,941 Measurement period Total pension liability Service Cost Interest ont the total pensionl liability Changes ofa assumptions Differencel between expected anda actuale experience Benefit pmts, including refunds ofe employee contributions Neto changei in totalp pensionl liability Totalp pensionl liability- beginning Totalp pensionl liability- ending (a) Plant fiduciary net position Contributions employer Contributions- employee Neti investmenti income Benefitp pmts, including refunds ofe employee contributions NetF Plant top planr resource movement Administrative expense Otherr miscellaneous income/(expense) Net changei int fiduciary netp position Planf fiduciary netp position- beginning Planf fiduciary netp position- -ending (b) Planr net pension! liability -ending (a)-() Planf fiduciary netp position as a percentage ofthet total pension liability Covered payrol" 2016-17 13,834,596 1,747,504 (8,769,084) (8.144,855) 23,697,410 2015-16 13,060,555 1,309,944 10,354,556 2014-15 12,319,585 (3,070,074) 936,342 (7,825,158) 6,314,486 2013-14 11,633,302 (7.071,659) 8,364,818 5,400,076 $ 5,070,624 $ 4,128,912 $ 3,953,791 $ 3,803,175 205,476,206 181,778,796 171,424,240 165,109,754 156,744,936 216,405,147 $2 205,476,206 $ 181,778,796 $ 171,424,240 $ 165,109,754 5,062,611 $ 4,872,316 $ 4,263,677 $ 4,110,362 $ 3,752,858 3,107,991 11,067,806 (9,686,731) (325) (204,254) (387,882) 8,959,216 2,967,546 13,334,234 (8.769,084) (175,470) 12,229,542 2,806,615 611,274 (8,144,855) (72,758) (536,047) 2,157,404 2,616,436 (7,825,158) (134,357) 924,687 1,915,171 17,731,050 (7,071,659) 16,327,420 131,077,048 118,847,506 119,383,553 118,458,866 102,131,446 140,036,264 $ 131,077,048 $ 118,847,506 119,383,553 $ 118,458,866 76,368,883 $ 74,399,158 $ 62,931,290 $ 52,040,687 $ 46,650,888 17,992,455 $ 16,912,791 $ 15,361,676 $ 14,732,611 $ 13,667,214 64.71% 424.45% 63.79% 439.90% 65.38% 409.66% 69.64% 353.23% 71.75% 341.33% Planr netp pension! liability asa a%0 ofc covered payroll 'During Fiscal Year 2017-18, as a result of Governmental Accounting Standards Board Statement (GASB) No. 75, Accounting and Financial Reporting for Postemployment Benefit Plans Other than Pensions (GASB 75), CalPERS reported its proportionate share of activity related to postemployment benefits for participation in the State of California's agent OPEB plan. Accordingly, CalPERS recorded a one-time expense as a result of the adoption of GASB 75. Additionally, CalPERS employees participate in various State of California agent pension plans and during Fiscal Year 2017-18, CalPERS recorded a correction to previously reported financial statements to properly reflect its proportionate share of activity related to pensions in accordance with GASB Statement No. 68, Accounting and Financial Reporting for 3Includes one year's payroll growth using 2.75 percent payroll growth assumption for fiscal years ended June 30, 2018- Benefit Changes: The figures above include any liability impact that may have resulted from voluntary benefit changes that occurred after the June 30, 2019 valuation. However, offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes) that occurred after the. June 30, 2019 valuation date are not included in the figures above, unless the liability Changes of Assumptions: In November 2021, the inflation and administrative expense assumptions were reduced which resulted in a discount rate reduction from 7.15 percent to 6.90 percent. None in 2019 or 2020. There were no changes in the discount rate. In 2017, the discount rate was reduced from 7.65 percent to 7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense). In 2014, amounts reported were Pensions (GASB 68). 2Includes any beginning of year adjustment 20; 3.00 percent payroll growth assumption for fiscal years ended June 30, 2014-17. Notes to Schedule of Changes in Net Pension Liability and Related Ratios: impact is deemed to be material by the plan actuary. based on the 7.5p percent discount rate. 87 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Pension Contributions Last Ten Fiscal Years 2023-24' California Public Employees' Retirement System (CalPERS) Miscellaneous Plan 2022-23' 2021-22' 2020-21' 2019-20' Actuarially determined contribution" Contributions to actuarially determined contribution" Contribution deficiency (excess) Covered payroll 7,027,464 $ 6,599,704 $ 6,561,636 $ 5,805,693 $ 4,995,682 (7,027,464) (6,599,704) (6,561,636) (5,805,693) (4,995,682) $ $ 0$ 20.18% 2016-17' 0 a 18.39% 2015-16' 0 16.53% 2014-15' 34,499,993 $ 33,495,139 $ 32,519,552 $ 31,572,381 $ 30,228,914 Contributions as a percentage of covered payroll Actuarially determined contribution" Contributions to actuarially determined contribution" Contribution deficiency (excess) Covered payroll" 20.37% 2018-19' 19.70% 2017-18' 4,051,371 $ 3,326,932 $ 3,204,896 $ 2,918,817 $ 3,275,626 (4,051,371) (3,326,932) (3,204,896) (2,918,817) (3,275,626) 2 28,646,712 $ 26,661,340 $ 25,396,835 $ 24,405,359 $ 22,815,330 0 $ 14.14% 0 $ 12.48% 0 ee 12.62% 0 $ 11.96% 0 14.36% Contributions as a percentage of covered payroll" 'As prescribed in GASB 68, paragraph 46, the information presented in the Schedule of Plan Contributions should also be presented as of the employer's most recent fiscal year-end. The employer is responsible for determining this 2 Employers are assumed to make contributions equal to the actuarially determined contributions. However, some employers may choose to make additional contributions towards their unfunded liability. Employer contributions for such 3 Includes one year's payroll growth using 2.75 percent payroll assumption for fiscal year ended June 30, 2018; 3.00 Valuation Date: The actuarial methods and assumptions used to set the actuarially determined contributions for Fiscal information as prescribed by the standard as this datai is not available to CalPERS. plans exceed the actuarially determined contributions. percent payroll assumption for fiscal years ended June 30, 2014-17. Year 2019-20 were derived from the. June 30, 2017 funding valuation report. Methods and assumptions used to determine contribution rates: Actuarial cost method Amortization method/Period Asset valuation method Inflation Salary increases Payroll Growth Investment rate ofr return Retirement age Mortality Entry Age Normal Cost Method Funding Valuation Report. 2.50% Varies by Entry Age and Service 2.75% inflation. For details, see June 30, 2017 Funding Valuation Report Fair Value of Assets. For details, see June 30, 2017 7.00%, net of pension plan investment & admin exps; includes The probabilities of Retirement: are based on the 2017 CalPERS Experience Study for the period from 19971 to 2015. The probabilities of mortality are based ont the 2017 CalPERS Experience Study for the period from 19971 to 2015. Pre-retirement: and Post-retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries. 88 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Pension Contributions, Continued California Public Employees' Retirement System (CalPERS) - Safety Plan Last Ten Fiscal Years 2023-24' 2022-23' 2021-22' 2020-21' 2019-20' Actuarially determined contribution Contributions to actuarially determined contribution Contribution deficiency (excess) Covered payroll 10,457,046 $ 9,807,362 $ 8,991,444 $ 7,861,821 $ 6,966,114 (10,457,046) (9,807,362) (8,991,444) (7,861,821) (6,966,114) 2 20,828,561 $ 20,221,904 $ 19,632,917 $ 19,061,084 $ 19,148,678 $ 0. $ 50.21% 2018-19' 0 $ 48.50% 2017-18' 0$ 45.80% 2016-17' 0 $ 41.25% 2015-16' 0 36.38% 2014-15' Contributions as a percentage of covered payrol" Actuarially determined contribution" Contributions to actuarially determined contribution" Contribution deficiency (excess) Covered payroll" 5,912,775 $ 5,062,611 $ 4,872,316 $ 4,263,677 $ 4,110,362 (5,912,775) (5,062,611) 0 $ 32.21% (4,872,316) (4,263,677) (4,110,362) 0 $ 28.81% 0 $ 27.76% 0 27.90% 18,354,740 $ 17,992,455 $ 16,912,791 $ 15,361,676 $ 14,732,611 Contributions as a percentage of covered payroll" 28.14% 'As prescribed in GASB 68, paragraph 46, the information presented in the Schedule of Plan Contributions should also be presented as of the employer's most recent fiscal year-end. The employer is responsible for determining this 2 Employers are assumed to make contributions equal to the actuarially determined contributions. However, some employers may choose to make additional contributions towards their unfunded liability. Employer contributions for such 3 Includes one year's payroll growth using 2.75 percent payroll assumption for fiscal year ended June 30, 2018; 3.00 Valuation Date: The actuarial methods and assumptions used to set the actuarially determined contributions for Fiscal information as prescribed by the standard as this data is not available to CalPERS. plans exceed the actuarially determined contributions. percent payroll assumption for fiscal years ended June 30, 2014-17. Year 2019-20 were derived fromi the June 30, 2017 funding valuation report. Methods and assumptions used to determine contributionrates: Actuarial costr method Amortization method/Period Asset valuation method Inflation Salary increases Payroll Growth Investment rate of return Retirement age Mortality Entry Age Normal Cost Method Funding Valuation Report. 2.50% Varies by Entry Age and Service 2.75% inflation. For details, see June 30, 2017 Funding Valuation Report Fair Value of Assets. For details, see June 30, 2017 7.00%, net of pension plan investment & admin exps; includes The probabilities of Retirement are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015. The probabilities of mortality are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015. Pre-retirement and Post-retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries. 89 (This page is intentionally left blank) 90 Nonmajor Governmental Funds Special Revenue Funds Special revenue funds are used to account for specific revenues that are legally restricted for OffHighway Use Fund- This fund is used to account for the revenue received from the off-highway Housing & Community Development Fund - This fund is used to account for the revenue and Community Facilities District 2020-1 Fund (Dry Creek Preserve Sewer Facilities and Services) This fundi is used to collect funds to finance all costs associated with the maintenance and operation of certain temporary public sewer facilities and the eventual replacement of those temporary particular purposes. users fee since thet fee can only be used for off-road facilities. expenses for the Community Development Block Grant operational activities. facilities with permanent public sewer facilities. Debt Service Funds The debt service fund is used to account fort the accumulation of resources and payment of bond principal andi interest when the government is obligated in some manner for the payment. 1976 Fire and Sewer Bond Fund- This fund is used to account for the proceeds of the 1976 Fire and Sewer Bond sale and the annual debt service. Capital Projects Funds Capital projects funds are used to account for the acquisition and construction of major capital Park and Recreation Improvement Fund This fund is used to account for capital improvements for parks, including acquisition of property. Revenues come from developer fees and grants. Refuse Equipment Reserve Fund This fund is used to account for the revenue generated by developer fees for the acquisition of equipment for refuse collection and disposal. facilities other than those financed by proprietary funds and trust funds. 91 Page 10 of2 City of Clovis Combining Balance Sheet Nonmajor Governmental Funds June 30, 2024 Special Revenue Off Highway Use $ 73,276 $ 202 Housing & Comm Community Facilities Development 790,815 $ 4,752,661 541,427 750,016 750,016 District 2020-1 292,450 8,156 Total $ 1,156,541 4,761,019 541,427 ASSETS Cash and investments Receivables Due from other governments Total assets LIABILITIES Accounts payable Deposits and other liabilities Total Liabilities FUND BALANCES Restricted for: Capital projects Community development Debt service Assigned for: Capital Total fund balances Total liabilities and fund balances $ 73,478 $ 6,084,903 $ 300,606 $6,458,987 $ 0 e 750,016 25,059 775,075 73,478 5,610,434 0 0 5,683,912 6,458,987 $ 25,059 25,059 73,478 5,334,887 5,334,887 6,084,903 275,547 275,547 300,606 73,478 73,478 92 City of Clovis Combining Balance Sheet Nonmajor Governmental Funds June 30, 2024 Page 2 of2 Debt Service 1976 Fire and Sewer e 448,681 1,293 449,974 Capital Projects Refuse Equipment $2,459,241 6,804 Total Nonmajor Governmental Funds 4,800,539 784,325 Park and Recreation 6,314,387 31,423 242,898 841,346 9,200 850,546 $ Total $ 8,773,628 $ 10,378,850 38,227 242,898 6,588,708 $2,466,045 $9,054,753 $ 15,963,714 841,346 $ 1,591,362 9,200 850,546 34,259 1,625,621 $ 0 0 0 6,083,207 0 2,121,000 8,204,207 73,478 11,693,641 449,974 2,121,000 14,338,093 3,617,162 2,121,000 5,738,162 2,466,045 2,466,045 449,974 449,974 449,974 $6,588,708 $2,466,045 $9,054,753 $ 15,963,714 93 Page 1of2 City of Clovis Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds For the Year Ended June 30, 2024 Special Revenue Off Highway Housing & Comm Community Facilities $ 2,884 $ 148,507 $ Use Development 2,391,984 2,540,491 1,056,435 1,056,435 1,484,056 District 2020-1 (1,843) $ 149,548 120,412 118,569 Total 2,512,396 0 0 2,661,944 1,056,435 5,700 1,062,135 1,599,809 REVENUES Use of money and property From other agencies Charges for services Other revenues Total revenue EXPENDITURES Current: Community development Capital outlays Total expenditures 2,884 5,700 5,700 112,869 0 2,884 Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) Transfers In Transfers out 0 0 0 1,599,809 4,084,103 Total other financing sources (uses) Net change in fund balances Fund balances-beginning Fund balances-ending 0 2,884 70,594 0 1,484,056 3,850,831 0 112,869 162,678 73,478 $ 5,334,887 $ 275,547 $5,683,912 94 City of Clovis Page 2of2 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds For the Year Ended June 30, 2024 Debt Service 1976 Fire and Sewer $ 16,997 Capital Projects Refuse Equipment Total Nonmajor Governmental Funds $ 798,199 3,206,273 1,781,104 0 5,785,576 1,056,435 5,837,759 6,894,194 (1,108,618) Park and Recreation 532,479 $ 693,877 1,605,410 2,831,766 Total 693,877 1,781,104 0 3,106,635 0 5,832,059 5,832,059 (2,725,424) 99,175 $ 631,654 175,694 274,869 16,997 5,832,059 5,832,059 (3,000,293) 0 16,997 0 274,869 0 (1,964,000) (1,964,000) (4,689,424) 12,893,631 0 (1,964,000) (1,964,000) (3,072,618) 17,410,711 14,338,093 (1,814,000) (1,814,000) (4,814,293) 10,552,455 (150,000) (150,000) 124,869 2,341,176 0 16,997 432,977 449,974 $5,738,162 $ 2,466,045 $ 8,204,207 95 City of Clovis Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget and Actual Local Transportation Capital Projects Fund For the Year Ended June 30, 2024 Variance with Final Budget- Positive (Negative) (7,348,338) (279,000) (4,906,229) 316,540 27,122,589 Budgeted Amounts Original $ Actual Amounts 0 $ : 2,721,109 $ 2,721,109 14,119,662 0 16,840,771 153,460 13,245,793 31,712,278 13,399,253 32,028,818 3,441,518 114,000 0 114,000 3,555,518 27,236,589 19,873,121 Final 0 $ 21,468,000 21,468,000 279,000 21,747,000 21,747,000 470,000 29,199,071 29,669,071 45,428,071 (7,922,071) (23,681,071) REVENUE Use of money and property From other agencies Charges for services Total revenues EXPENDITURES Transportation Capital Outlay Total expenditures Excess (deficiency) of revenues over expenditures 279,000 470,000 44,958,071 OTHER FINANCING SOURCES (USES) Total other financing sources (uses) Net change in fund balances Fund Dalance-Deginning Fund balance-ending Transfers In Transfers Out 0 0 0 0 0 0 114,000 0 114,000 (7,922,071) (23,681,071) 19,873,121 19,873,121 $11,951,050 $(3,807,950) $23,428,639 $27,236,589 96 City of Clovis Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget. and Actual Off Highway Use Special Revenue Fund For the Year Ended June 30, 2024 Variance with Final Budget- Positive (Negative) 2,884 0 2,884 Budgeted Amounts Original $ Actual Amounts 2,884 0 2,884 70,594 Final 0 $ 0 0 0 70,594 REVENUE Use of money and property Total revenues EXPENDITURES Total expenditures Excess (deficiency) of revenues over expenditures Fund balance-Deginning Fund balance-ending 0 $ 2,884 $ 2,884 0 0 0 70,594 70,594 $ 70,594 $ 73,478 $ 2,884 97 City of Clovis Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget and Actual Housing and Community Development Special Revenue Fund For the Year Ended June 30, 2024 Variance with Final Budget- Positive (Negative) (4,936,016) 0 Budgeted Amounts Original Final 0 $ 7,328,000 7,328,000 0 0 7,328,000 7,328,000 7,403,920 7,403,920 7,403,920 7,403,920 (75,920) (75,920) (75,920) (75,920) 3,850,831 3,850,831 Actual Amounts 0 $ 148,507 $ 148,507 2,391,984 0 2,540,491 (4,787,509) 1,056,435 1,056,435 1,484,056 1,484,056 3,850,831 REVENUE Use of money and property From other agencies Other revenues Total revenues EXPENDITURES Community development Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balance Fund balance-Deginning Fund balance-ending 6,347,485 6,347,485 1,559,976 1,559,976 $3,774,911 $3,774,911 $5 5,334,887 $ 1,559,976 98 City of Clovis Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget and Actual Community Facilities District 2020-1 Special Revenue Fund For the Year Ended June 30, 2024 Variance with Final Budget- Positive (Negative) 65,412 (55,000) 8,569 27,000 27,000 35,569 0 35,569 Budgeted Amounts Original Final $ 0 $ 55,000 55,000 55,000 55,000 110,000 110,000 32,700 32,700 32,700 32,700 77,300 77,300 0 0 77,300 77,300 162,678 162,678 Actual Amounts 120,412 0 118,569 5,700 5,700 112,869 0 112,869 162,678 REVENUE Use of money and property From other agencies Charges for services Total revenues EXPENDITURES Community development Total expenditures Excess (deficiency) of revenues over expenditures Total other financing sources Net change ini fund balance Fund palance-beginning Fund balance-ending 0 $ (1,843) $ (1,843) $ 239,978 $ 239,978 $ 275,547 $ 35,569 99 City of Clovis Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget and Actual 1976 Fire and Sewer Debt Service Fund For the Year Ended June 30, 2024 Variance with Final Budget- Positive (Negative) 16,997 0 16,997 Budgeted Amounts Original $ Actual Amounts 16,997 0 16,997 432,977 Final 0$ 0 0 0 432,977 REVENUE Use ofmoney and property Total revenues EXPENDITURES Total expenditures Excess (deficiency) of revenues over expenditures Fund Dalance-Deginning Fund balance-ending 0 $ 16,997 $ 16,997 0 0 0 432,977 432,977 $ 432,977 $ 449,974 $ 16,997 100 City of Clovis Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget and Actual Park and Recreation Capital Project Fund For the Year Ended June 30, 2024 Variance with Final Budget- Positive (Negative) 278,877 (366,590) 444,766 0 2,119,695 2,119,695 2,564,461 Budgeted Amounts Original Final $ 0 $ 415,000 415,000 1,972,000 1,972,000 2,387,000 2,387,000 0 0 6,290,754 7,951,754 6,290,754 7,951,754 Actual Amounts 693,877 1,605,410 2,831,766 0 5,832,059 5,832,059 REVENUE Use of money and property From other agencies Charges for services Total revenues EXPENDITURES Community development Capital outlays Total expenditures Excess (deficiency) of revenues over expenditures 0 $ 532,479 $ 532,479 (3,903,754) (5,564,754) (3,000,293) OTHER FINANCING SOURCES (USES) Total other financing sources (uses) Net change int fund balances Fund balance-beginning Fund balance-ending Transfers Out 0 0 0 (1,814,000) (1,814,000) (1,814,000) (1,814,000) 0 (3,903,754) (5,564,754) (4,814,293) 10,552,455 10,552,455 750,461 10,552,455 6 6,648,701 $ 4,987,701 $5 5,738,162 $ 750,461 101 City of Clovis Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget and Actual Refuse Equipment Capital Project Fund For the Year Ended June 30, 2024 Variance with Final Budget- Positive (Negative) 175,694 274,869 0 274,869 (150,000) (150,000) 124,869 Budgeted Amounts Original $ Actual Amounts 175,694 274,869 0 274,869 (150,000) (150,000) 124,869 2,341,176 Final 0 $ 0 0 0 0 0 0 0 2,341,176 REVENUE Use of money and property Charges for services Total revenues EXPENDITURES Total expenditures Excess (deficiency) of revenues over expenditures 0 $ 99,175 $ 99,175 0 0 0 0 0 0 0 2,341,176 OTHER FINANCING SOURCES (USES) Total other financing sources (uses) Net change in fund balance Fund balance-beginning Fund balance-ending Transfers Out $2,341,176 $ 2,341,176 $ 2,466,045 $ 124,869 102 Internal Service Funds Internal service funds are used to account for the financing of goods or services provided by one department of the agency to other departments or agencies of the government and to other Self-Insurance Fund This fund is used to account for the cost of general liability and property damage insurance. Iti is funded by a charge to all operating departments. Fleet Fund This fundi is used to account for rental charges to all operating departments for maintenance and replacement cost for equipment and vehicles. Employee Benefit Fund This fund is used to account for the cost of employee benefits including retirement, workers' compensation, health insurance, unemployment insurance and Medicare insurance. Iti is funded by a charge to all operating departments. General Services - This fundi is used to account fort the centralized support provided to other departments and for government facility enhancements and acquisitions. government units, on a cost reimbursement basis. 103 City of Clovis Combining Statement of Net Position Internal Service Funds June 30, 2024 Self Insurance Fleet 24,936 75,725 959,000 1,960,753 27,759,414 Employee Benefits 102,346 General Services 366,017 11,964 Total 569,024 11,964 959,000 435 435 8,872,400 ASSETS Current assets: Cash andi investments Receivables Due from other governments Inventories Total current assets Noncurrent assets: Restricted cash and investments: Cash with fiscal agent-bond accounts Total restricted: assets Capital assets: Land Buildings and improvements Machinery and equipment Less accumulated depreciation Total capital assets (neto of accumulated depreciation) Intangible assets Less accumulated amortization Total intangible assets (net of accumulated amortization) Total noncurrent assets Total assets DEFERRED OUTFLOW OF RESOURCES Pension related deferred outflows Total deferred outflows of resources LIABILITIES Current liabilities: Accounts payable Claims and judgements payable Accrued compensated absences Deposits and other liabilities Unearned revenue Lease liability-current Subscription liability- current Direct borrowings-current Loans payable-current Revenue bonds-current Total current liabilities Noncurrent liabilities: Claims and judgements payable Accrued compensated absences Advances from other funds Lease liability Subscription liability Direct borrowings Loans payable Revenue bonds (net of discountpremium) Net pension liability Total noncurrent liabilities Total liabilities DEFERRED INFLOW OF RESOURCES Lease deferred inflows Pension deferred inflows Total deferred inflow of resources NET POSITION Net investment in capital assets Restricted for debt service Unrestricted (deficit) Total net position $1,935,817 $26,724,689 $ 19,887,750 $ 36,487,563 $ 85,035,819 19,990,096 36,865,544 86,575,807 435 435 8,872,400 139,027,024 139,967,295 9,548,398 63,416,737 (58,912,587) (93,890,800) 0 98,535,235 118,365,632 2,421,724 2,421,724 (368,633) 0 2,053,091 0 100,588,761 120,419,158 1,309,248 2,426,759 1,309,248 2,426,759 1,766,257 34,300 733,052 71,581 563,243 1,763,987 253,887 300,000 5,486,307 164,905 6,000,000 505,436 517,395 6,193,669 2,521,680 12,868,706 12,868,706 5,540,320 10,129,241 116,914 60,619 177,533 75,605,759 94,316,363 435 0 0 940,271 53,868,339 (34,978,213) 0 19,830,397 0 0 19,830,397 91,603 91,603 67,895 0 (368,633) 2,053,091 0 834,297 834,297 447,884 18,200 1,960,753 47,589,811 19,990,096 137,454,305 206,994,965 191,611 191,611 532,597 2,548,000 4,100 2,814,633 2,548,000 56,600 733,052 0 71,581 563,243 2,155,179 253,887 300,000 9,496,175 6,665,000 272,478 6,000,000 505,436 517,395 6,922,270 2,521,680 391,192 857,276 87,696 728,601 67,895 3,084,697 6,665,000 19,877 390,176 3,407,096 390,176 4,223,393 4,090 4,090 791,649 7,476,526 34,312,111 46,402,206 458,071 5,080,669 10,561,223 39,798,418 55,898,381 116,914 108,599 225,513 435 36,122 36,122 18,710,604 7,768 7,768 1,590,195 24,596,713 9,612,716 23,181,408 58,981,032 1,590,195 $43,307,317 $ 9,612,716 $ 98,787,602 $153,297,830 104 City of Clovis Internal Service Funds For the Year Ended June 30, 2024 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position Self Insurance 122,166 6,887,466 14,151,885 266,481 6,100,379 5,514,280 57,000 1,225,400 6,423,860 12,241,934 463,606 1,909,951 20,439 (5,270) 15,169 Employee Benefits General Services 92,447 1,598,679 17,052,326 74,834,587 3,476,161 7,556,087 620,600 4,336,714 15,989,562 69,967,644 1,062,764 1,392,456 887,448 (589,346) 1,690,558 2,753,322 2,580,000 5,333,322 11,536,644 93,454,280 141,761,186 Fleet 40,000 Total 132,447 1,720,845 24,212,750 36,201,965 2,002,400 7,550,529 4,866,943 2,540,153 992,137 (617,657) 53,651 2,968,284 7,835,227 121,417 3,580,000 Operating revenues: Charges for services From other agencies Other revenues Total operating revenues Operating expenses: Salaries and benefits Services, materials and supplies Administration Depreciation and amortization Total operating expenses Operating income (loss) Nonoperating revenues (expenses): Interest income Net increase (decrease) in cash fair value Interest expense Gain (loss) on sale of capital assets Total nonoperating revenue (expense) Capital contributions Transfers in Changes in net position Total net position-beginning Total net position-ending $6,765,300 $14,111,885 $ 36,742,910 $ 15,361,200 $ 72,981,295 36,742,910 18,181,669 17,031,219 99,400 35,312,288 1,430,622 370,011 (48,581) 321,430 1,752,052 1,752,052 7,860,664 2,288,439 3,213,815 757,247 158,540 (28,311) 53,651 941,127 121,417 1,000,000 Income before contributions and transfers 478,775 2,851,078 478,775 3,972,495 1,111,420 39,334,822 $1,590,195 $43,307,317 $ 9,612,716 $ 98,787,602 $153,297,830 105 City of Clovis Combining Statement of Cash Flows Internal Service Funds Fort the Year Ended. June 30, 2024 Self Insurance Employee Benefits General Services Fleet Total CASH FLOW FROM OPERATING ACTIVITIES Receipts fori interfund services Payments to suppliers Payments to employees Other operating revenues Net cash provided by (usedi in) operating activities CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers-in from other funds Net cash provided by noncapital financing activities CASH FLOWS FROM CAPITAL ANDI RELATED FINANCING ACTIVITIES Acquisition and construction of capital assets Principal paid on! bonds, loans, and direct borrowings Interest paid on! bonds, loans, and direct borrowings Proceeds from bonds, loans, and direct! borrowings Proceeds from sale of property and equipment Principal paid on advances from other funds Net cash provided by (usedi in) capital and related financing activities CASH FLOWS FROM INVESTING ACTIMITIES Interest and dividends on investments Increasel/(decrease) inf fair value ofi investments Net cash provided by (usedi in)i investing activities Net changei in cash and cash equivalents Cash and cash equvalents-beginning ofy year Cash and cashe equivalents-end ofy year Operating income (loss) Adjustments to reconcile operatingi income tor net cash provided by (usedi in) operating activities: Depecation-amonizaton expense (Increase)decrease in accounts reçeivable (Increase)decrease in due from other governments (Increase)decrease ini inventories (Increase)decrease in deferred outflows pension (Increase)decrease in prepaidi items Increase/decrease) in accounts payable Increase/decrease) in accrued compensated absences Increase/decrease), in unearnedi revenue Increase/decrease) in claims and judgments payable Increase/decrease) inr net pension liability Increase/decrease) in deferred inflows lease Increasel/(decrease) in deferred inflows- pension Total adjustments Net cash provided by (used in) operating activities Noncash investing, capital, and financing activities: $6,805,930 $14,112,766 $ 36,739,812 $ 14,732,429 $ 72,390,937 (6,222,337) (7,163,375) (15,913,535) (8,572,844) (37,872,091) (249,981) (2,147,929) (18,148,700) (3,225,317) (23,771,927) 122,168 455,780 4,841,462 40,000 1,000,000 0 1,000,000 (2,834,870) (581,892) (28,311) 76,802 0 (3,368,271) 20,439 757,247 (5,270) 158,540 15,169 915,787 470,949 3,388,978 1,464,868 23,335,711 2,090,438 5,024,706 12,999,525 2,580,000 0 2,580,000 2,252,606 3,580,000 3,580,000 (617,657) 1,131,600 76,802 (750,000) 2,540,155 992,137 3,532,292 3,982,387 2,677,577 (11,814,267) (14,649,137) (739,146) (1,321,038) (589,346) 1,131,600 (750,000) 0 12,761,159) (16,129,430) 1,392,458 887,448 370,011 (48,581). 321,430 2,279,906 2,999,007 (2,876,547) 16,888,743 39,364,545 81,053,867 $1,935,817 $26,724,689 $ 19,887,750 $36.487,998 $ 85,036,254 $ 463,606 $ 1,909,951 $ 1,430,622 $ 1,062,764 $ 4,866,943 Reconciliation of operating income (loss) to net cash provided by (used in) operating activities: 3,213,815 881 (10,000) 100,724 2,027 64,775 (27,019) 4,336,714 (54,463) 457,769 187,075 187,379 (583,537) 5,236 (574,308) 100,424 (58,457) (41,890) 7,550,529 (16,050) 457,769 (10,000) 320,368 187,379 (635,101) 10,819 (574,308) 790,000 188,094 (58,457) (78,460) 8,132,582 40,630 12,278 (64,956) (413,692) (3,098) 20,291 427,084 3,556 790,000 15,650 (6,528) 1,246,955 3,961,942 7,245 (3,023) (7,826) 2,931,511 $ 455,780 $ 4,841,462 $ 2,677,577 $ 5,024,706 $ 12,999,525 During the yeart the Fleet Maintenance Fund, ani internal service fund, received $121,417 in donated assets. 106 Fiduciary Funds Custodial Funds are used to account for assets held by the government for individuals, private Blackhorse Assessment Fund - This fund is used to account for revenue and expenditures related to the maintenance within the Blackhorse II (95-1)Assessment District such as streets, curb & Temperance/Barstow Assessment Fund This fund is used to account for the receipts and Snepnerd/emperance Assessment Fund This fund is used to account for the receipts and organizations, other governments and/or other funds. gutter, street lighting, sidewalks and gates. disbursements oft the Temperance Barstow Assessment District. disbursements of the Shepherd Temperance Assessment District. 107 City of Clovis Custodial Funds June 30, 2024 Combining Statement of Fiduciary Net Position Custodial Funds Temperance Shepherd Blackhorse Barstow Temperance Assessment Assessment Assessment $ 66,162 $ 78,894 $ Total 2,337 153,271 ASSETS Cash and investments Receivables Total assets LIABILITIES Accounts payable Deposits and other liabilities Total liabilities NET POSITION Restricted for: Total net position 5,878 $ 150,934 10 5,888 2,112 68,274 215 79,109 474 474 5,414 5,414 $ 152,797 474 474 152,797 0 0 Individuals, organizations, and other governments 68,274 79,109 $ 68,274 $ 79,109 $ 108 City of Clovis Custodial Funds For the Year Ended June 30, 2024 Combining Statement of Changes in Fiduciary Net Position Custodial Funds Temperance Shepherd Barstow Temperance Blackhorse $ 75,463 2,161 $ 77,624 113,700 113,700 (36,076) 104,350 Assessment Assessment Assessment Total 9 75,463 5,386 80,849 113,700 113,700 (32,851) 185,648 ADDITIONS Special assessments tax Investment earnings Total additions DEDUCTIONS Community development Total deductions Change in net position Net position-Beginning Net position-Ending 3,109 $ 3,109 116 116 0 3,109 76,000 0 116 5,298 68,274 $ 79,109 $ 5,414 $ 152,797 109 (This page is intentionally left blank) 110 Statistical Section S T A T I S T This part oft the City of Clovis' Annual Comprehensive Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and information required supplementary says about the government's overall financial health. C A L S E C T 0 N 111 Statistical Section Contents Financial Trends Page 113 These schedules contain trend information to help the reader understand how the government's financial performance and well-being have changed over time. These schedules contain information to help the reader assess the governments' Revenue Capacity 121 most significant local revenue source, the property tax. Debt Capacity 125 These schedules present information to help the reader assess the affordability of the government's current levels of outstanding debt and the government's ability to issue additional debt in the future. Demographic and Economic Information 131 These schedules offer demographic and economic indicators to help the reader understand the environment within which the government's financial activities take place. Operating Information 134 These schedules contain service and infrastructure data to help the reader understand how the information in the government's financial report relates to the services the government provides and the activities it performs. 112 CITY OF CLOVIS NET POSITION BY COMPONENT LAST TEN FISCAL YEARS (accrual basis of accounting) (int thousands) Fiscal Year Ended June 30, 2019 2015* 2016 2017 2018 2020 2021 2022 2023 20 Governmental activities: Restricted Unrestricted Total net position Business-type activities: Restricted Unrestricted Total net position Total Primary government Restricted Unrestricted Total net position Net investment in capital assets $ 509,567 $ 523,881 $ 524,625 $ 533,810 $ 562,740 $ 587,764 $ 595,863 $ 631,982 $ 668,223 $ 707,386 23,997 25,843 20,681 27,826 33,325 38,522 42,460 48,790 50,687 (67,159) (67,081) (54,927) (63,435) (66,182) (51,797) (32,398) (22,188) (32,488) (30,000) $ 466,405 $ 482,643 $ 490,379 $ 498,201 $ 529,883 $ 574,489 $ 605,925 $ 658,584 $ 686,422 $ 722,534 45,148 Neti investment in capital assets $ 137,520 $ 142,658 $ 147,265 $ 153,013 $ 162,938 $ 168,489 $ 171,482 $ 176,055 $ 186,868 $ 197,511 3,377 906 953 25 1 2 2 72,977 82,271 103,531 108,299 120,937 106,444 108,569 117,529 122,138 120,849 $213,874 $ 225,835 $ 251,749 $ 261,337 $ 283,876 $ 274,933 $ 280,051 $ 293,584 $ 309,008 $ 318,362 Net investment in capital assets $ 647,087 $ 666,540 $ 671,890 $ 686,823 $ 725,678 $ 756,253 $ 767,345 $ 808,037 $ 855,091 $ 904,897 27,374 26,748 21,634 27,851 33,326 38,522 42,460 48,790 50,689 5,818 15,190 48,604 44,864 54,755 54,647 76,171 95,341 89,650 680,279 $ 708,478 $ 742,128 $ 759,538 $ 813,759 $ 849,422 $ 885,976 $ 952,168 $ 995,430 $ 1,040,896 45,150 90,849 *Its should be noted that, due tot thei implementation of GASB 68 in fiscal year 2015, unrestricted net position in the Governmental Activities area was severely impacted, whichi is why the amount decreased by approximately $88 million in one fiscal year (and remains negative through the current fiscal year). CITY OF CLOVIS CHANGES IN NET POSITION LAST TEN FISCAL YEARS (accrual basis of accounting) (in thousands) For the Fiscal Year Ended June 30, 2019 2015 2016 2017 2018 2020 2021 2022 2023 Expenses: Governmental activities: General government Public safety Transportation Community development Cultural and recreation Interest and other charges Business-type activities: Refuse Sewer Water Transit 5,587 $ 5,577 $ 6,218 $ 6,481 $ 7,730 $ 7,436 $ 7,426 $ 5,464 $ 9,536 $ 39,460 42,027 46,258 54,529 55,860 59,876 62,766 55,415 68,280 12,686 12,232 13,307 14,057 14,883 18,884 16,632 17,097 18,170 6,272 6,196 6,703 7,212 8,118 7,115 7,174 7,825 9,261 909 637 1,742 1,984 924 751 755 286 2,995 694 840 1,176 488 886 805 726 462 Total governmental activities expenses 64,914 67,593 75,114 85,068 88,097 94,291 97,719 87,129 106,885 15,654 16,207 16,574 18,502 20,205 21,744 22,079 23,424 24,730 18,011 18,553 18,235 18,862 18,738 19,465 19,541 20,366 21,031 14,486 14,487 15,604 16,807 17,463 18,551 24,963 21,431 22,083 24,6 4,884 5,016 5,098 6,280 6,961 7,008 6,792 7,063 8,357 7,557 7,781 8,555 9,410 10,443 11,662 11,338 10,076 13,740 Planning & Development Services Total business-type activities expenses 60,592 62,044 64,066 69,861 73,810 78,430 84,713 82,360 89,941 Total primary government expenses 125,506 129,637 139,180 154,929 161,907 172,721 182,432 169,489 196,826 21 Program revenues: Governmental activities: Charges for services: General government Public safety Transportation Community development Cultural and recreation Operating grants and contributions Capital grants and contributions Total governmental activities program revenues 4,995 4,875 4,640 4,497 5,137 5,069 8,934 10,165 10,203 2,209 2,521 2,079 3,414 3,268 2,524 4,216 4,950 4,763 6,788 6,061 7,411 7,901 15,897 17,192 15,446 16,976 21,051 4,909 5,540 5,653 6,010 4,638 2,447 2,768 4,064 5,897 20,516 16,638 11,537 18,216 32,241 23,439 21,005 26,456 17,368 41,287 36,673 32,815 40,726 62,030 52,369 65,157 71,992 60,266 1,231 639 301 737 865 630 307 381 456 393 935 322 763 12,466 8,998 383 447 537 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Business-type activities: Charges for services: Community sanitation Sewer Water Transit 17,608 17,692 18,083 19,235 20,022 21,116 23,166 25,034 26,559 27,056 21,974 21,167 18,942 21,214 21,281 24,673 21,007 23,678 25,343 19,452 19,050 16,599 34,174 20,923 26,115 22,032 23,542 27,751 28,214 25,437 1,541 1,608 1,597 1,692 1,729 1,920 2,675 2,921 3,007 4,000 8,159 8,807 9,619 9,828 10,522 12,029 11,737 11,403 12,238 12,089 4,247 4,056 4,464 4,590 5,463 4,542 4,496 5,328 5,849 7,988 4,059 2,721 1,935 2,854 7,302 2,102 2,652 2,598 1,406 2,770 76,638 72,650 88,814 80,336 92,434 88,414 89,275 98,713 102,616 98,792 117,925 109,323 121,629 121,062 154,464 140,783 154,432 170,705 162,882 172,227 (23,627) (30,920) (42,299) (44,342) (26,067) (41,922) (32,562) (15,137) (46,619) (46,941) 16,047 10,606 24,748 10,475 18,624 9,984 4,562 16,353 12,675 1,258 (7,580) (20,314) (17,551) (33,867) (7,443) (31,938) (28,000) 1,216 (33,944) (45,683) Planning & Development Services Operating grants and contributions Capital grants and contributions Total business-type activities program revenues Total primary government program revenues Net revenues (expenses): Governmental activities Business-type activities Total net revenues (expenses) General revenues and other changes in net position Governmental activities: Taxes: Property taxes Sales tax Business license & Franchise Taxes Transient occupancy' taxes Grants and contributions not restricted Unrestricted investment earnings Transfers Total governmental activities Business-type activities: Unrestricted investment earnings Transfers Total business-type activities Total primary government Changes in net position Governmental activities Business-type activities Total primary government 19,842 20,649 22,392 24,833 26,668 28,520 30,378 33,241 36,213 39,289 18,039 19,120 19,676 20,432 21,597 22,394 27,526 31,106 30,238 29,516 4,984 5,271 5,300 6,891 5,789 6,009 2,600 2,768 2,948 2,951 2,329 2,552 2,705 2,871 2,896 2,743 3,538 3,780 4,310 5,401 172 183 163 234 (461) (850) 274 461 178 272 186 504 566 1,476 3,037 456 (2,638) 1,198 8,115 (500) (460) (450) (2,220) 56 (3,280) 2,299 5,876 556 (2,820) 2,749 8,096 (488) (507) (1,180) (250) 45,068 47,159 50,035 55,272 57,750 62,453 63,998 67,797 74,457 83,052 506 850 679 1,442 2,734 4,899 507 1,180 488 250 500 460 450 2,220 735 1,356 1,167 1,949 3,914 5,149 45,803 48,515 51,202 57,221 61,664 67,602 64,554 64,977 77,206 91,148 21,441 16,239 7,736 10,930 31,683 20,531 31,436 52,660 27,838 36,111 16,782 11,962 25,915 12,424 22,538 15,133 5,118 13,533 15,424 9,354 38,223 $ 28,201 $ 33,651 $ 23,354 $ 54,221 $ 35,664 $ 36,554 $ 66,193 $ 43,262 $ 45,465 CITY OF CLOVIS LAST TEN FISCAL YEARS GENERAL GOVERNMENT REVENUES BY SOURCE Fiscal Year Ended June 30, 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Licenses and Use of From Other Agencies Charges for Service Fines and Money and Other Revenue Taxes 47,591,661 50,072,582 55,019,558 56,949,844 59,666,331 67,802,558 Permits Forfeitures Property 584,412 253,841 330,336 140,193 412,460 227,831 526,291 804,977 150,920 Total 45,191,980 $ 583,060 $ 207,358 $ 144,328 $ 12,484,156 $ 5,794,337 $ 5,469,201 $ 69,874,420 170,213 10,990,248 6,544,320 5,730,691 71,865,386 173,524 11,473,015 8,060,073 5,634,697 75,884,420 585,707 13,962,855 7,442,164 5,358,986 83,009,561 271,010 31,247,370 8,054,434 6,153,290 114,484,559 664,075 28,278,996 11,761,752 6,959,681 127,144,165 778,319 195,146 1,134,952 15,787,432 9,620,602 5,831,451 90,297,746 188,334 1,914,715 26,007,449 7,788,344 6,185,944 102,277,408 190,317 4,659,155 23,799,245 9,669,780 7,488,595 128,994,734 74,945,949 1,374,447 189,018 (1,578,778) 29,337,210 9,803,524 6,723,637 120,795,007 77,886,573 1,332,924 260,164 81,880,268 1,307,374 Note: Includes all governmental fund types (General, Special Revenue, Debt Service and Capital Projects Funds). $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 $10,000,000 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 IAA Fiscal Year Ended. June 30, DUse of Money and Property Taxes Licenses and Permits Fines and Forfeitures From Other Agencies Charges for Service Other Revenue 116 CITY OF CLOVIS LAST TEN FISCAL YEARS GENERAL GOVERNMENT EXPENDITURES BY FUNCTION Fiscal Year Ended June 30, Government 2016 2017 2018 2019 2020 2021 2022 2023 2024 General 5,620,922 6,287,114 46,476,211 6,163,620 6,818,113 52,034,209 6,930,929 7,576,845 58,574,671 7,464,459 63,297,211 8,120,203 72,210,311 8,851,777 77,456,919 Public Safety 43,136,838 49,688,800 54,300,092 Community Culture and Capital Transportation Development Recreation Outlays Total 2015 $ 5,622,192 $ 40,767,185 $ 3,595,841 $ 917,702 $ 5,409,366 $ 9,800,799 $ 66,113,085 3,828,619 4,032,061 4,169,509 4,506,493 4,438,270 4,481,127 5,194,042 5,362,350 5,861,579 577,483 5,541,908 1,757,867 5,914,052 1,913,909 6,108,769 686,251 6,993,547 2,999,876 7,179,605 1,056,512 10,285,161 6,523,827 65,229,597 8,516,678 72,983,983 6,907,009 74,951,616 9,818,090 80,856,703 10,712,079 91,524,203 19,083,552 122,595,500 330,247 7,040,642 23,836,451 96,876,631 846,379 8,471,633 12,760,383 98,034,107 1,177,004 9,617,862 27,957,286 124,445,016 Notes: Includes all governmental fund types (General, Special Revenue, Debt Service and Capital Projects Funds). $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 - H 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fiscal Year Ended. June 30, OGeneral Government Public Safety Transportation OCommunity Development Culture and Recreation Capital Outlays 117 Page1of2 CITY OF CLOVIS LAST TEN FISCAL YEARS (modifieda accrual basis ofa accounting) CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS For the Fiscal Year Ended. June 30, 2015 18,037,581 4,929,246 2,382,421 583,060 207,358 144,328 12,484,156 5,794,337 5,469,201 69,874,420 71,865,386 5,622,192 40,767,185 3,595,841 917,702 5,409,366 2016 19,119,633 5,271,321 2,550,809 584,412 253,841 170,213 10,990,248 6,544,320 5,730,691 5,620,922 43,136,838 3,828,619 577,483 5,541,908 2017 19,675,483 5,300,062 2,705,284 330,336 140,193 173,524 11,473,015 8,060,073 5,634,697 75,884,420 83,009,561 6,287,114 46,476,211 4,032,061 1,757,867 5,914,052 2018 20,425,341 6,891,105 2,870,536 412,460 227,831 585,707 13,962,855 7,442,164 5,358,986 6,163,620 49,688,800 4,169,509 1,913,909 6,108,769 2019 21,597,179 5,788,765 2,895,987 778,319 195,146 1,134,952 15,787,432 9,620,602 5,831,451 90,297,746 6,818,113 52,034,209 4,506,493 686,251 6,993,547 Revenues: Property taxes Sales taxes Business license & Franchise taxes Transient occupancy taxes Licenses and permits Fines and forfeitures Use ofr money and property From other agencies Charges for current services Other revenues Total revenues Expenditures Current: General govemment Public safety Transportation Community development Cultural and recreation Debt service: Principal Interest and fiscal charges Bond issue costs Capital outlays Total expenditures Excess (deficiency) of revenues over (under) expenditures Total other financing sources (uses) Net change in Fund balances Debt service as a percentage ofr noncapital expenditures 19,842,732 $ 20,649,898 $ 22,391,753 $ 24,832,576 $ 26,667,913 9,800,799 66,113,085 65,229,597 3,761,335 (1,211,000) 6,523,827 6,635,789 (4,050,000) 8,516,678 72,983,983 2,900,437 (3,188,000) 6,907,009 74,951,616 8,057,945 (506,700) (506,700) (1,819,000) 9,818,090 80,856,703 9,441,043 156,000 (1,975,000) 7,622,043 0.0% Other financing sources (uses): Transfersi in Transfers out (1,211,000) (4,050,000) (3,188,000) 2,550,335 $ 2,585,789 0.0% (287,563) $ 7,551,245 0.0% 0.0% 0.0% 118 CITY OF CLOVIS LAST TENI FISCAL YEARS (modified accrual basis ofa accounting) Page2of2 CHANGES IN FUND BALANCES OF GOVERNMENTALI FUNDS For the Fiscal Year Ended. June 30, 2020 22,393,757 6,008,671 2,743,490 526,291 188,334 1,914,715 26,007,449 7,788,344 6,185,944 6,930,929 54,300,092 4,438,270 330,247 7,040,642 2021 27,526,307 6,360,691 3,538,141 804,977 150,920 271,010 31,247,370 8,054,434 6,153,290 7,576,845 58,574,671 4,481,127 2,999,876 7,179,605 2022 31,105,966 6,819,233 3,780,220 1,374,447 189,018 (1,578,778) 29,337,210 9,803,524 6,723,637 7,464,459 63,297,211 5,194,042 846,379 8,471,633 2023 30,238,078 7,125,400 4,309,917 1,332,924 260,164 664,075 28,278,996 11,761,752 6,959,681 8,120,203 72,210,311 5,362,350 1,177,004 9,617,862 2024 29,516,137 7,684,608 5,390,581 1,307,374 190,317 4,659,155 23,799,245 9,669,780 7,488,595 8,851,777 77,456,919 5,861,579 1,056,512 10,285,161 Property taxes Salest taxes Business license &F Franchise taxes Transient occupancyt taxes Licenses andp permits Fines andf forfeitures Use ofr moneya andp property From other agencies Charges for current services Other revenues Total revenues Current: General govemment Publics safety Transportation Community development Cultural and recreation Debt service: Principal Interest and fiscal charges Bondi issue costs Capital outlays Total expenditures Excess (defiçiency) ofr revenues over (under)e expenditures Total other financing sources (uses) Neto changei inF Fund balances Debts service as ap percentage ofr noncapital expenditures 28,520,413 $ 30,377,419 $ 33,240,530 $ 36,213,178 $ 39,288,942 102,277,408 114,484,559 120,795,007 127,144,165 128,994.734 23,836,451 10,712,079 12,760,383 27,957,286 19,083,552 96,876,631 5,400,777 454,000 (3,110,000) (18,445,300) 91,524,203 98,034,107 124,445,016 122,595,500 22,960,356 22,760,900 2,699,149 128,000 (3,501,000) 6,399,234 114,000 (5,914,000) (5,800,000) Transfersi in Transfers out (9,015,300) (2,656.000) (18,445,300) (9,015,300) (3,373,000) $ 2,744,777 $ 4,515,056 $ 13,745,600 $ (673,851) $ 599,234 0.0% 0.0% 0.0% 0.0% 0.0% 119 CITY OF CLOVIS LAST TEN FISCAL YEARS (modified accrual basis of accounting) FUND BALANCES OF GOVERNMENTAL FUNDS General Fund Fiscal Year Ended 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 June 30, Nonspendable Restricted 2,738,023 3,189,504 4,309,112 4,960,824 5,811,491 6,680,015 7,434,722 8,211,235 9,502,005 Assigned 11,779,000 12,152,000 12,424,000 13,512,000 13,748,000 17,011,500 20,844,500 22,215,100 24,262,700 Unassigned 2,925,095 708,019 3,618,238 4,433,151 4,114,250 1,280,958 8,414,521 7,408,320 4,186,284 Total 17,442,118 16,049,523 20,351,350 22,905,975 23,673,741 24,972,473 36,693,743 37,834,655 37,950,989 $ 855,000 $ 2,368,439 $ 10,000,000 $ 3,702,156 $ 16,925,595 AlI Other Governmental Funds Fiscal Year Ended 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 June 30, Nonspendable Restricted 6,349,429 $ 10,283,400 16,002,504 18,886,282 26,555,512 27,613,930 32,145,941 35,202,765 29,800,295 30,571,832 35,645,732 Assigned 4,423,900 258,000 258,000 4,267,000 1,712,000 1,871,500 9,298,300 6,712,000 2,121,000 Unassigned Total 23,498,457 20,426,404 26,672,755 26,813,512 31,880,930 33,857,941 37,074,265 39,098,595 37,283,832 37,766,732 $ 6,865,628 $ 7,528,473 120 CITY OF CLOVIS LAST TEN FISCAL YEARS ASSESSED AND ESTIMATED ACTUAL VALUE OF PROPERTY Fiscal Year Ended Assessed June 30, 2016 2017 Real Property Value Personal Property Assessed Estimated Value Actual Value Homeowners Exemptions Net Assessed Value Total Estimated Actual Value Estimated Direct Actual Value Tax Rate 2015 $ 8,158,612,400 $ 8,158,612,400 $ 204,592,938 $ 204,592,938 $ 101,969,400 $ 8,261,235,938 $ 8,363,205,338 0% 8,696,361,855 8,696,361,855 213,125,102 213,125,102 100,450,200 8,809,036,757 8,909,486,957 0% 9,179,714,485 9,179,714,485 214,596,488 214,596,488 2018 10,033,990,678 10,033,990,678 221,666,625 221,666,625 2019 10,593,683,186 10,593,683,186 212,862,653 212,862,653 2020 11,401,543,797 11,401,543,797 213,768,044 213,768,044 2021 12,221,160,827 12,221,160,827 235,685,766 235,685,766 2022 13,064,591,432 13,064,591,432 234,727,451 234,727,451 2023 14,175,785,247 14,175,785,247 266,218,727 266,218,727 2024 15,201,926,453 15,201,926,453 323,846,805 323,846,805 Note: Effective fiscal year 1981-82 and fiscal years thereafter, assessed valuei is 100% ofr market value. The rate applied tot the assessed value for county wide property taxi is 1%. Source: Fresno County Auditor Controller/Treasurer Tax Collector FY2023-24 Tax Rate Book 99,120,700 9,295,190,273 9,394,310,973 0% 97,686,900 10,157,970,403 10,255,657,303 0% 96,576,100 10,709,969,739 10,806,545,839 0% 96,322,900 11,518,988,941 11,615,311,841 0% 96,035,100 12,360,811,493 12,456,846,593 0% 94,233,600 13,205,085,283 13,299,318,883 0% 94,756,500 14,347,247,474 14,442,003,974 0% 94,444,600 15,431,328,658 15,525,773,258 0% 121 CITY OF CLOVIS LAST TEN FISCAL YEARS PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENT Fiscal Year Ended June 30, 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Clovis Unified Bond 0.155346 0.155350 0.155350 0.398998 0.155350 0.155352 0.155356 0.155350 0.155330 0.155350 State Center Bond 0.009308 0.008064 0.008480 0.025934 0.022966 0.025786 0.025672 0.018088 0.028470 0.020920 City of Clovis 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 School District General Obligation County Wide 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000 Total 1.164654 1.163414 1.163830 1.424932 1.178316 1.181138 1.181028 1.173438 1.183800 1.176270 Note: The basis for the tax rates is per $100 assessed valuation. Source: Fresno County Auditor Controler/reasurer Tax Collector FY2023-24 Tax Rate Book 122 CITY OF CLOVIS PRINCIPAL PROPERTYTAX PAYERS CURRENT YEAR AND TEN YEARS AGO 2024 2015 Percent of Total City Taxable Assessed Value 1 0.88% 2 0.34% 3 0.33% 4 0.30% 5 0.27% 6 0.24% 7 0.23% 8 0.23% 9 0.20% 10 0.19% Percent of Total City Taxable Assessed Value 1 1.27% Taxable Assessed Value (1) Rank 56,560 53,766 49,214 45,387 39,460 38,686 37,940 32,591 32,038 Taxable Assessed Value (1) Rank 112,367 Taxpayer Fresno Community Hospital % Medical CTR $ 145,834 310 Amedeo Owner LLC Community Hospitals of Central California RLOLLC Lennar Homes of California Inc Prindiville Dennis Trustee LTC West Inc KBI Home South Bay Inc PD' Village Green LP Ashlan Avenue Apartments LLC Pelco BRE Throne Clovis Commons LLC Clovis-Herndon Center II LLC Wal-Mart Real Estate Business Trust GSF Sunnyside Clovis InvestorsLP Copper Beech Townhome Communities Clovis Apartment Group LLC Butler Investment Group LLC (1) Amounts in thousands. Source: City of Clovis-GIS Fresno County Assessor 41,270 2 0.47% 25,985 37,682 25,092 24,546 22,672 21,000 19,721 18,131 4 3 5 6 7 8 9 10 0.29% 0.43% 0.28% 0.28% 0.26% 0.24% 0.22% 0.20% 3.94% $5 531,476 3.21% $348,466 123 CITY OF CLOVIS PROPERTY TAXI LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS Ratio of Total Tax Ratio of Current Percent of Fiscal Year Total Ended June 30, 2016 2017 2018 2019 2020 2021 2022 2023 2024 Notes: Current Delinquent Total Collections Current Delinquent to Total Delinquent Taxes to Total Tax Levy Current Tax Taxes Tax Tax Collections Collected Collections, Collections TaxLevy Taxes TaxLevy, 2015 10,824,263 $ 10,592,809 97.9 $ 202,176 $ 10,794,985 99.7 155,869 1.440 159,503 1.390 169,390 1.398 187,528 1.403 196,915 1.382 244,291 1.636 231,803 1.437 260,234 1.508 313,898 1.660 349,397 1.707 11,475,064 11,371,562 99.1 12,116,560 11,966,405 98.8 13,366,204 13,159,337 98.5 14,248,564 13,928,737 97.8 14,932,240 14,428,282 96.6 16,131,046 15,784,387 97.9 17,256,877 16,649,714 96.5 18,909,514 18,216,075 96.3 20,468,477 19,748,488 96.5 Amounts include only General Fund tax collections. Includes prior year delinquent tax collections. unable toy provide the City of Clovis' delinquent tax ratio. 111,527 11,483,089 100.1 160,797 12,127,202 100.1 268,359 13,427,696 100.5 138,109 14,066,846 98.7 196,398 14,624,680 325,023 16,109,410 282,717 16,932,431 305,208 18,521,283 280,221 20,028,709 97.9 99.9 98.1 97.9 97.9 The ratio of current delinquent taxes represents the Fresno County wide rate as the County of Fresno is Sources: Fresno County Assessor's Office Fresno County Auditor Controller 124 CITY OF CLOVIS RATIOS OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS Fiscal Year Ended Subscription Lease June 30. Liability 2015 $ 2016 2017 2018 2019 2020 2021 2022 2023 2024 2015 $ 2016 2017 2018 2019 2020 2021 2022 2023 2024 2015 $ 2016 2017 2018 2019 2020 2021 2022 2023 2024 Loans/ Notes/Direct Contracts Placements Debt Debt Per Per AV Capita Revenue Capital Liability 0 $ 0 0 0 0 0 0 0 115,279 1,102,730 Bonds! (1) Leases(1) Payable(1) Payable(1) Total Governmental Activities 0 $23,655,822 $ 1,805,112 $ 0 26,850,329 1,724,379 0 24,154,921 1,480,623 0 22,066,356 1,195,510 0 $ 0 0 0 0 0 0 0 0 577,017 0$ 25,460,934 $0.003 $ 244 0 28,574,708 0.004 274 0 25,635,544 0.003 231 0 23,261,866 0.002 204 0 11,284,736 2,745,885 8,997,833 23,028,454 0.002 197 0 9,413,689 2,768,483 7,992,401 20,174,573 0.002 169 13,943,941 13,773,862 13,473,784 13,168,706 0$ 137,462,213 $ 0 130,540,195 0 125,639,953 0 118,831,052 0 114,115,888 0 109,265,725 0 104,255,563 0 99,030,400 0 93,585,238 0 87,414,061 0 2,439,906 16,494,902 32,878,749 0.003 270 0 2,170,424 13,834,128 29,778,414 0.002 241 0 1,908,905 11,370,846 26,868,814 0.002 215 0 2,775,567 9,077,447 26,701,467 0.002 212 Business-type Activities 0 9,018,510 $ 0 8,205,774 0 7,350,311 0 6,449,775 0 5,502,287 0 4,505,030 0 3,455,186 0 2,355,574 0 1,203,845 0 Total Primary Government 0$ $ 0 0 0 0 0 0 0 0 117,070 0 $ 146,480,723 $0.018 $ 1,404 0 138,745,969 0.017 1,330 0 132,990,264 0.014 1,201 0 125,280,827 0.012 1,100 0 119,618,175 0.011 1,022 0 113,770,755 0.010 955 0 107,710,749 0.010 884 0 101,385,974 0.009 820 0 94,789,083 0.007 761 0 87,531,131 0.006 694 0 $ 171,941,657 $0.021 $ 1,648 0 167,320,677 0.021 1,604 0 158,625,808 0.017 1,432 0 148,542,693 0.015 1,304 0 0 $ 0 0 0 0 0 0 0 115,279 1,219,800 0$ 137,462,213 $ 23,655,822 $ 10,823,622 $ 0 130,540,195 26,850,329 9,930,153 0 125,639,953 24,154,921 8,830,934 0 118,831,052 22,066,356 7,645,285 0 114,115,888 11,284,736 8,248,172 8,997,833 142,646,629 0.013 1,219 0 109,265,725 9,413,689 7,273,513 7,992,401 133,945,328 0.012 1,124 0 118,199,504 0 112,804,262 0 107,059,022 577,017 100,582,767 0 5,895,092 16,494,902 140,589,498 0.013 1,154 0 4,525,998 13,834,128 131,164,388 0.011 1,061 0 3,112,750 11,370,846 121,657,897 0.008 976 0 2,775,567 9,077,447 114,232,598 0.007 906 (1) Presented net of original issuance discounts and premiums. Source: City of Clovis Finance Department 125 CITY OF CLOVIS RATIO OF NET GENERAL OBLIGATION BONDED DEBT TO ASSESSED VALUE AND NET GENERAL OBLIGATION BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS Fiscal Year Ended Estimated June 30, Population 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Ratio of Net 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Net $ 0 0 0 0 0 0 0 0 0 0 Assessed Gross Bonded Less Debt Net Bonded Debt to Bonded Debt Valuation 8,696,361,855 9,179,714,485 Debt(1) Service Fund Bonded Debt Assessed Value Per Capita 104,339 $ 8,158,612,400 $ 113,883 10,157,970,403 117,003 10,709,969,739 119,175 11,518,988,941 121,834 12,360,811,493 123,665 13,205,085,283 124,523 14,347,247,474 126,133 15,431,328,658 0 $ 0 0 0 0 0 0 0 0 0 0 $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 108,039 110,762 (1) Amount does not include special assessment bonds. Source: Fresno County Auditor Controle/Treasurer Tax Collector 126 CITY OF CLOVIS RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION BONDED DEBT TOTOTAL GENERAL GOVERNMENTAL EAPENDITURES LAST TEN FISCAL YEARS Total General Governmental Expenditures (1) 66,113,085 65,229,597 72,983,983 74,951,616 80,856,703 96,876,631 91,524,203 98,034,107 124,445,016 122,595,500 Ratio of Debt Service to General Government Expenditures 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Fiscal Year Ended June 30. 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Total Debt Service 0 $ 0 0 0 0 0 0 0 0 0 Principal Interest $ 0 $ 0 0 0 0 0 0 0 0 0 0 $ 0 0 0 0 0 0 0 0 0 (1) Includes all governmental fund types (General, Special Revenue, Debt Service and Capital Projects Funds). 127 CITY OF CLOVIS JUNE 30, 2024 COMPUTATION OF DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT 2023/2024 Assessed Valuation: $ 15,525,773,258 Direct and Overlapping Debt: Direct Debt: City of Clovis Direct Borrowings City of Clovis Revenue Bonds City of Clovis Loans Payable City of Clovis Subscription Liability City of Clovis Lease Liability Overlapping Bonded Debt: Fresno County General Fund Obligations Fresno County Pension Obligations State Center Community College District Clovis Unified School District Clovis Unified School District General Fund Obligations Clovis Memorial District General Fund Obligations Fresno Unified School District Fresno Unified School District General Fund Obligations Sanger Unified School District Sanger Unified School District General Fund Obligations Total Gross Overlapping Bonded Debt Total Gross Overlapping Tax Increment Debt Total Gross Overlapping Debt % Applicable* 100.00% 100.00% 100.00% 100.00% 100.00% 14.699% 14.699% 13.378% 42.515% 42.515% 45.640% 2.114% 2.114% 1.288% 1.288% Debt $ 9,077,447 13,168,706 2,775,567 1,219,800 577,017 26,818,537 2,754,593 26,348,586 49,555,457 246,511,531 69,336,638 1,572,986 16,947,770 104,326 3,240,473 1,493,629 $417,865,989 8,620,000 $426,485,989 $453,304,526 (1) Total Net Direct and Direct Bonded Debt Overlapping Tax Increment Debt: 100.00% Total Net Direct and Overlapping Bonded Debt non-bonded capital lease obligations. Ratios to Assessed Valuation: (1) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and tax allocation bonds and Total Overlapping Tax and Assessment Debt Total Direct and Direct Bonded Debt Combined Total Debt Total Overlapping' Tax Increment Debt 2.75% 0.17% 2.92% 0.76% Ratios to Redevelopment! Incremental Valuation $1,138,644,965 Share of Authorized and Unsold Bonds: City of Clovis $ 2,000,000 Hasntchanged since 1995. Source: California Municipal Statistics & City of Clovis *The percentage of overlapping debt applicable to the City is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value thati is within the boundaries of the City divided by the district's total assessed value. 128 CITY OF CLOVIS LAST TEN FISCAL YEARS COMPUTATION OF LEGAL DEBT MARGIN INFORMATION Total Net Debt Applicable to the Limit As al Percentage ofD Debt Limit 0 0 0 0 0 0 0 0 0 0 Fiscal Year Ended June 30, 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Total Net Debt Applicable to Limit Legal Debt Margin 0 $ 1,254,480,801 0 1,336,423,044 0 1,409,146,646 0 1,538,348,595 0 1,620,981,876 0 1,742,296,776 0 1,868,526,989 0 1,994,897,832 0 2,166,300,596 0 2,328,865,989 DebtL Limit e 1,254,480,801 1,336,423,044 1,409,146,646 1,538,348,595 1,620,981,876 1,742,296,776 1,868,526,989 1,994,897,832 2,166,300,596 2,328,865,989 LEGAL DEBT MARGIN CALCULATION FORI FISCAL YEAR 2023 Assessed Valuations: Assessed Value Add back exempt property Total Assessed' Value Legal Debt Margin: $ $ $ 15,431,328,658 94,444,600 15,525,773,258 2,328,865,989 Debt Limitation-15 percent of total assessed value Less: Amount in debt service funds available for payment of principal Total debt applicable to Limitation Debt applicable to Limitation: Total bonded debt $ 0 0 0 Legal Debt Margin: 2,328,865,989 129 CITY OF CLOVIS REVENUE BOND COVERAGE LAST TEN FISCAL YEARS REFUSE DISPOSAL FUND Net Revenue Fiscal Year Ended 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fiscal Year Ended 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fiscal Year Ended 2016 2017 2018 2019 2020 2021 2022 2023 2024 Gross 16,684,608 16,883,872 18,030,852 19,172,744 19,786,605 20,538,541 21,809,342 23,586,930 24,542,122 Gross 21,366,761 19,205,582 21,721,290 22,175,017 25,862,697 20,806,290 21,946,687 25,557,340 21,260,756 Gross 16,769,010 18,717,047 21,537,742 27,118,081 23,939,392 22,776,199 24,952,968 28,597,236 27,620,683 Operating Available for 15,578,895 15,600,372 16,042,168 18,301,846 19,599,590 19,990,095 21,342,044 23,231,505 24,109,889 Debt Service Requirements (3) June 30, Revenues( (1) Expenses (2) Debt Service Principal Interest 114,268 80,063 12,511 0 0 0 0 0 0 Total Coverage 769,268 1.44 770,063 1.67 737,511 2.70 0 N/A 0 N/A 0 N/A 0 N/A 0 N/A 0 N/A 2015 $ 16,612,320 $ 14,612,658 $ 1,999,662 $ 625,000 $ 146,765 $ 771,765 2.59 1,105,713 1,283,500 1,988,684 870,898 187,015 548,446 467,298 355,425 432,233 SEWER SERVICE FUND Net Revenue 655,000 690,000 725,000 0 0 0 0 0 0 Operating Available for Debt Service Requirements (3) June 30, Revenues (4) Expenses (2) Debt Service Principal Interest 4,575,379 2,837,163 4,006,507 3,806,133 3,749,252 3,688,531 3,587,206 3,466,555 3,344,706 Total Coverage 6,505,379 1.93 4,317,163 2.35 6,191,507 1.98 5,881,133 2.05 5,884,252 2.50 5,898,531 1.61 5,907,206 1.64 5,896,555 2.12 5,899,706 1.16 2015 $ 22,072,796 $ 8,248,142 $ 13,824,654 $ 1,870,000 $ 4,801,933 $ 6,671,933 2.07 8,813,564 12,553,197 1,930,000 9,069,315 10,136,267 1,480,000 9,450,348 12,270,942 2,185,000 10,126,785 12,048,232 2,075,000 11,165,176 14,697,521 2,135,000 9,467,281 2,210,000 9,674,477 2,320,000 13,041,364 12,515,976 2,430,000 6,863,848 2,555,000 WATER SERVICE FUND Net Revenue 11,339,009 12,272,210 14,396,908 Operating Available for 10,955,394 11,977,373 12,618,522 14,798,151 21,116,633 17,717,090 20,861,082 Debt Service Requirements (3) June 30, Revenues (4) Expenses (2) Debt Service Principal Interest 1,301,145 1,232,816 1,161,688 1,087,826 1,011,231 958,688 856,188 748,438 601,803 Total Coverage 2,986,145 1.95 2,987,816 2.26 2,986,688 2.99 2,977,826 4.62 2,976,231 3.07 3,008,688 0.55 3,011,188 2.40 3,013,438 3.39 2,941,803 2.30 2015 $ 19,133,751 $ 10,860,381 $ 8,273,370 $ 1,630,000 $ 1,367,074 $ 2,997,074 2.76 5,813,616 1,685,000 6,739,674 1,755,000 8,919,220 1,825,000 9,141,241 1,965,000 1,659,566 2,050,000 7,235,878 2,155,000 6,759,601 2,340,000 13,346,057 13,772,024 1,890,000 18,381,039 10,216,197 2,265,000 (1) Total revenues, including interest. (2) Total operating expenses exclusive of depreciation. in the refuse and sewer funds. (3) Includes principal and interest of revenue bonds only. Itdoes not include the other debt reported (4) Total revenues, including interest and capital contributed by developers. The amount contributed by developers is available for payment of annual debt service and is therefore included in gross revenue for the purposes of this schedule. Note: This schedule does not represent legal bond covenants. 130 CITY OF CLOVIS DEMOGRAPHIC STATISTICS LAST TEN FISCAL YEARS Fiscal Year Ended 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 City 7.50 7.20 5.80 4.40 4.10 12.10 6.40 3.40 4.50 4.50 City Population Fresno County City Income 62,863 62,863 65,976 78,146 74,432 89,398 84,119 84,837 100,399 88,828 City 104,339 2.10 108,039 3.55 110,762 2.52 113,883 117,003 2.74 119,175 1.86 121,834 123,665 1.50 124,523 0.69 126,133 Unemployment Fresno County as % of 10.73 10.97 11.12 11.31 11.49 11.65 11.79 12.23 12.31 12.40 Unemployment Median Rate 9.30 9.30 8.10 7.60 7.00 14.60 9.30 5.70 7.10 8.10 June30, Population %Change Rate Population County Population 972,297 984,541 995,975 1,007,229 1,018,241 1,023,358 1,026,681 1,011,273 1,011,499 1,017,431 2.82 2.23 1.29 Sources: County of Fresno Labor market Info EDD United States Census California Department of Finance Note: Per capita income and total personal income information not available. 131 CITY OF CLOVIS PRINCIPAL EMPLOYERS CURRENT YEAR AND TEN YEARS AGO 2024 2015 Percent of Total 1 13.03% 2 7.45% 3 4.67% 4 2.22% 5 1.91% 6 1.83% 7 1.31% 8 1.08% 9 1.01% 10 0.87% Percent of Number of Total Employment 5,563 1 18.54% 1,643 2 5.48% 740 4 2.47% 622 6 2.07% 1,011 3 3.37% 267 8 0.89% 260 9 0.87% 419 7 1.40% 711 5 2.37% 259 10 0.86% Number of 5,228 2,988 1,874 890 767 735 526 435 406 350 Employer Clovis Unified School District Clovis Community Hospital County of Fresno Wal-Mart City of Clovis Wawona Frozen Foods Anlin Industries Costco Target Cen Cal Builders Pelco Savemart Employees Rank Employment" Employees "Total Employment" as used above represents the total employment of all employers located within City limits based on a projection for June 2024. Source: Employment Development Department or employer provided 132 CITY OF CLOVIS FULL-TIME CITY EMPLOYEES LAST TEN FISCAL YEARS Function Governmental Activities General Government Public Safety Police Fire Transportation Community Development Culture & Recreation Internal Service Total Governmental Activities Business-Type Activities Refuse Sewer Water Street Cleaning Transit Planning & Dev Services Total Business-Type Activities Total Full-Time Employees 2015 2016 2017 2018 2019 2020 2021 2022 48.100 73.000 17.190 0.850 27.930 32.885 2023 2024 50.100 51.300 73.000 74.000 17.290 17.490 1.000 2.000 29.830 34.230 34.985 35.935 41.850 43.850 44.850 46.850 46.650 66.000 66.000 67.000 67.000 67.000 14.950 13.950 14.000 14.040 14.140 24.200 26.000 25.750 26.630 26.630 29.225 30.225 31.225 31.235 30.435 47.100 47.100 67.000 16.140 0.850 26.680 32.835 163.000 168.000 175.000 175.000 176.000 179.000 180.000 180.000 184.000 196.000 73.000 16.140 0.850 27.680 32.835 1.000 1.000 1.000 0.850 339.225 349.025 358.825 361.755 361.705 369.605 377.605 379.955 390.205 410.955 44.310 44.310 43.960 45.060 49.060 11.250 11.250 11.250 12.230 12.780 34.300 35.300 36.850 37.890 39.040 24.125 25.325 25.325 25.325 25.325 51.160 13.030 40.040 6.740 25.425 51.410 13.280 41.540 6.740 27.425 55.710 60.010 13.480 15.580 43.190 45.240 6.240 6.690 27.425 27.425 64.750 16.460 46.970 6.790 31.425 64.650 6.790 6.790 6.790 6.740 6.740 45.000 45.000 45.000 47.000 53.350 56.000 55.000 61.000 61.850 165.775 167.975 169.175 174.245 186.295 192.395 195.395 207.045 216.795 231.045 505.000 517.000 528.000 536.000 548.000 562.000 573.000 587.000 607.000 642.000 Source: City of Clovis Adopted Budgets, Authorized Positions Notes: Decimals represent the portions of employees performing duties int two or more functions. Internal Service Functions have been included in Governmental Activities. CITY OF CLOVIS CAPITAL ASSET STATISTICS BY FUNCTION LAST TEN FISCAL YEARS 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Public Safety Police: Stations Fire: Fire stations Public utilities: Streets (miles) Streetlights Cultural and recreation: Parks Community centers Water: Water mains (miles) Sewer Sanitary sewers (miles) 1 1 1 1 1 1 1 1 1 1 5 5 5 5 5 5 5 5 6 6 384 391 410 415 419 421 427 431 432 435 10,461 10,479 11,022 11,088 11,692 11,702 11,700 12,023 12,127 12,447 62 63 64 66 67 69 72 79 84 84 1 1 1 1 1 1 1 1 1 1 508 514 521 535 546 555 573 585 600 603 373 379 385 396 405 413 426 432 442 444 Source: City of Clovis 134 CITY OF CLOVIS OPERATING INDICATORS BY FUNCTION LAST TEN FISCAL YEARS 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Police: 911 calls to dispatch* Number of crimes reported" for service Fire: Number of emergency calls Parks and recreation: Number of recreation classes Number of facility rentals Water: New connections Average daily consumption (thousands of gallons) Sewer: New connections (thousands of gallons) 181,916 183,782 185,484 159,199 16,430 18,034 16,856 16,135 15,417 17,580 17,042 17,347 15,605 Public and Officer initiated calls 77,580 84,909 84,697 81,492 80,616 80,023 79,097 76,103 79,331 83,992 10,098 10,069 9,661 9,974 10,399 10,662 10,274 10,772 12,183 12,491 119 130 138 151 169 18 25 40 20 58 35 610 650 62 64 436 590 88 72 783 602 32 32 32 48 68 636 837 936 1,067 1,068 855 1,193 639 509 801 1,170 1,037 830 20,684 16,883 19,083 20,849 19,929 21,682 22,939 22,944 21,604 22,018 902 Average daily sewage treatment 6,862 6,543 6,776 6,928 7,618 7,630 7,886 7,914 7,925 7,915 Prior Fiscal Year information unavailable. Source: City of Clovis 135 CITY OF CLOVIS BUILDING PERMIT VALUATIONS LAST TEN YEARS 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Valuation (in Thousands)" Residential Non-residential Total $ 232,729 $ 193,461 $ 265,411 $ 322,495 $ 236,922 $ 303,533 $ 357,447 $ 219,256 $ 248,361 $ 247,983 $ 251,287 $ 233,588 $310,024 $ 354,387 $ 348,837 $ 385,697 $ 389,542 $ 252,836 $ 284,665 $ 296,014 18,558 40,127 44,613 31,892 111,915 82,164 32,095 33,580 36,304 48,031 New Dwelling Units* * Single Family Multiple Family Total 794 117 911 697 0 697 925 58 983 1,046 304 1,350 848 0 848 884 228 1,112 1,148 90 1,238 531 328 859 658 0 658 595 15 610 Prior Fiscal Year information updated to properly reflect historical quantities and values. Source: City of Clovis Building Department 136 CITY OF CLOVIS MISCELLANEOUS STATISTICS June 30, 2024 Date of Incorporation Form of Government Area (square miles) Miles of Streets Number of Street Lights Fire Protection: Number of Stations Number of Firefighters and Officers Police Protection: Number of Police Officers and Other Sworn Personnel Water Department: Number of Water Services Miles of Water Mains Sewers: Miles of Sanitary Sewers February 27, 1912 Counci/Manager Number of Employees (full-time and part-time) 767 27.33 435 12,447 6 71 121 40,769 603 444 Source: City of Clovis Authorized Budget for Fiscal Year 2024/2025 137 (This page is intentionally left blank) 138 S I N G L E A U P T S E C T 6 N THE PUNGROUP ACCOUNTANTS ADVISORS 4660 LaJ Jolla Village Drive, Suite1 100 San Diego, Califomia 92122 wwwpungrowp.cpa REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE, AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERMMENT AUDITING STANDARDS Independent Auditors' Report To the Honorable Mayor and Members of City Council oft the City of Clovis Clovis, California We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of the City of Clovis, California (the "City") as of and for the year ended June 30, 2024, and the related notes to the basic financial statements, which collectively comprise the City's basic financial statements, and have issued our report thereon dated November 25, 2024. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the City's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, we do not express an opinion on A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were the effectiveness of the City's internal control. merit attention by those charged with governance. not identified. Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the City's basic financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Govemment Auditing Standards. ORANGE COUNTY - SANDIEGO . SACRAMENTO * WALNUT CREEK LASVEGAS - PHOENIX 0O6n To the Honorable Mayor and Members of City Council of the City of Clovis Clovis, California Page 2 Purpose of this Report The purpose of this report is solely to describe the scope of our testing ofi internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City's internal control or on compliance. This report is an integral part of an audit performed in accordance with Govemment Auditing Standards in considering the City's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. fubenf LP The San Diego, California November: 25, 2024 142 THE PUNGROUP ACCOUNTANTSG ADVISORS 4660 La. JollaV Village Drive, Suite 100 San Diego, Califoria 92122 www.pungroup.cpa REPORT ON COMPLIANCE FOR EACH MAJOR PROGRAM, AND ON SCHEDULE OF EXPENDITURES OF FEDERAL: AWARDS ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE, Independent, Auditors' Report To the Honorable Mayor and Members of City Council Report on Compliance for Each Major Federal Program Opinion on Each Major Federal Program oft the City of Clovis Clovis, California We have audited the City of Clovis, California's (the "City") compliance with the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have a direct and material effect on each of the City's major federal programs for the year ended June 30, 2024. The City's major federal programs are identified in the summary of the auditors' results section of the accompanying schedule of findings and questioned In our opinion, the City complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2024. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General oft the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards and the Uniform Guidance are further described in the We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide al basis for our opinion on compliance for each major federal program. Our audit does not provide a legal determination of the City's compliance with the compliance requirements referred to above. costs. Basis for Opinion on Each Major Federal Program Auditors' Responsibilities for the Audit of Compliance section of our report. Responsibiities of Management for Compliance Management is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to the City's federal programs. ORANGE COUNTY - SAN DIEGO - SACRAMENTO * WALNUT CREEK - LAS) VEGAS - PHOENIX 0on To the Honorable Mayor and Members of City Council oft the City of Clovis Clovis, California Page: 2 Auditors' Responsibilities for the Audit of Compliance Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the City's compliance based on our audit. Reasonable assurance is al high level of assurance buti is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with auditing standards generally accepted in the United States of America, Govemment Auditing Standards, and the Uniform Guidance will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override ofi internal control. Noncompliance with the compliance requirements referred to above is considered material ifti there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the City's compliance with the requirements of each major federal In performing an audit in accordance with auditing standards generally accepted in the United States of America, program as av whole. Govemment Auditing Standards, and the Uniform Guidance, we: Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material noncompliance, 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 City's compliance with the compliance requirements referred to above and performing Obtain an understanding of the City's internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance in accordance with the Uniform Guidance, but not for the purpose ofe expressing an opinion on the effectiveness of the City'si internal control over compliance. Accordingly, no such opinion is expressed. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over such other procedures as we considered necessary in the circumstances. compliance that we identified during the audit. Report on Internal Control Over Compliance Ad deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with Our consideration of internal control over compliance was for the limited purpose described in the Auditors' Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over governance. significant deficiencies ini internal control over compliance may exist that were not identified. compliance. Accordingly, no such opinion is expressed. 144 To the Honorable Mayor and Members of City Council oft the City of Clovis Clovis, California Page: 3 The purpose of this report on internal control over compliance is solely to describe the scope of our testing ofi internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose. Report on Schedule of Expenditures of Federal Awards Required by the Uniform Guidance We have audited the financial statements of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of the City as of and for the year ended June 30, 2024, and the related notes to the financial statements, and have issued our report thereon dated November 25, 2024, which contained unmodified opinions on those financial statements. Our audit was conducted for the purpose off forming our opinions on the City's financial statements. The accompanying Schedule of Expenditures of Federal Awards, as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, is presented for purposes of additional analysis and is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly tot the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain other procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the Schedule of Expenditures of Federal Awards is fairly stated in all material respects in relation to the basic financial statements as a whole. - LPp faiGewf The San Diego, California November 25, 2024 145 City of Clovis Schedule of Expenditures of Federal Awards For the Year Ended June 30, 2024 Federal 14.218 14.218 14.218 14.218 14.239 15.514 16.738 16.588 20.205 20.600 20.600 Amounts Federal GrantorPas-Through Grantor/Program or Cluster Assistance U.S. Department of Housing and Urban Development Direct Program: CDBG Entitement Grants Cluster: Community Development Block Grant-Entitlement Community Development Block Grant- Entitlement Community Development Block Grant-E Entitlement Community Development Block Grant-Entitlement Passed- Through CA Dept. of Housing and Community Development: Home Investment Partnerships Program U.S. Department oft the Interior, Bureau off Reclamation Direct Program: WaterSMART Program U.S. Department of Justice Direct Programs: Justice Assistance Grant Program Passed-Through CA State Office of Emergency Services & Marjaree Mason: Domestic Violence Response Team Program U.S. Department of Transportation Passed-7 Through Califomia State Department of Transportation: Highway Planning and Construction Cluster: Highway Planninga and Construction Passed- Through Califomia Office ol7 Traffic Safety Highway Safety Cluster: State and Community Highway Safety State and Community Highway Safety Federal Provided to $ 116,329 $ 342,509 533,745 5.712 998,295 13.962 1,012.257 45,873 45,873 19,382 25,000 44,382 2,815,865 2.815,865 13,907 18,116 32,023 21,824 52,660 74,484 2,922,372 328,677 328,677 328,677 39,474 39,474 39,474 47,182 827,173 86,330 33,381 994,066 Title Listing Number Pass-Through Entity Identifying Number Expenditures Subrecipients B-21-MC-06-0062 B-22-MC-06-0062 B-23-MC-06-0062 B-20-MW-06-0062 CDBG Entidement Grants Cluster 18-HOME-12582 BOR-DO-20-F002 1SPBA23GGOJTEJAGA UV23011257 Total U.S. Department of Justice 06-5208 Highway Planning and Construction Cluster PT23023 PT24046 Highway Safety Cluster Total PT23023 PT24046 Total U.S. Department of Transportation na Total U.S. Department of Treasury 24-0051ARP EMW-2022-FG.01550 EMW-2019FF-00250 FEMA-4683-DR-CA, CalOESID: 019-14218 97.067 Total U.S. Department of Homeland! Security Total Expendituros ofFederal Awards 5,387,101 Total U.S. Department of Housing and Urban Development Totall U.S. Department oft the Interior, Bureau of Reclamation 45,787 45,787 Minimum Penalties for Repeat Offenders for Driving While Intoxicated 20.608 Minimum Penalties for Repeat Offenders for Driving While Intoxicated 20.608 Minimum Penalties for Repeat Offenders for Driving While) Intoxicated Total U.S. Department of Treasury Direct Programs: Coronavirus State andl Local Fiscal Recovery Funds U.S. Department of Health and Human Services Passed- Through Fresno-Madera Area Agencyon Aging: Aging Cluster: Special Programs fort the Aging. Titlel I, Partc U.S. Department ofH Homeland! Security Direct Programs: Assistance to Firefighters Stafing for Adequate Fire andE Emergency Response Passed-Through Califomia State Office of Emergency Services Public Assistance Grants Passed-Through County of Fresno State! Homeland Security Program (SHSP) 21.027 Coronavirus! State and Local Fiscal Recovery Funds Total 93.045 97.044 97.083 97.036 97.067 Aging Cluster Total Total U.S. Department of Health and Human Sorvices 45,787 146 See Notes to the Schedule of Expenditures ofF Federal Awards. City of Clovis Notes to the Schedule of Expenditures of Federal Awards For the Year Ended June 30, 2024 Note 1- Reporting Entity The financial reporting entity consists of (a) the primary government, City of Clovis, California (the "City"), (b) organizations for which the primary government is financially accountable, including the Clovis Community Development Agency (dissolved on February 1, 2012 and established a Successor Agency, which is reported as a private-purpose trust fund in the City's financial statements), Clovis Municipal Development Corporation, and Clovis Public Financing Authority, and (c) other organizations for which the primary government is not accountable, but for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete. Note 2- Basis of Accounting Funds received under the various grant programs have been recorded within the General Fund, special revenue, and enterprise funds of the City. The City utilizes the modified accrual method of accounting for the General Fund and special revenue funds and full accrual basis of accounting for the enterprise funds. The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and includes the federal award activity for the year ended June 30, 2024. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the City's basic financial statements. Note 3- Schedule of Expenditures of Federal Awards The accompanying Schedule presents the activity of all federal financial assistance programs of the City. Federal financial assistance received directly from federal agencies as well as federal financial assistance passed through the State of California, County of Fresno, and/or City of Fresno are included in the Schedule. The Schedule was prepared from only the accounts of various grant programs and, therefore, does not present the financial position, change in net position or fund balance, or results of operations and cash flows of the City. Note 4- Subrecipients The City passed-through $45,787 in Federal Assistance Listing No. 15.514 WaterSMART Program funding to the Fresno Metropolitan Flood Control District during the fiscal year ended June 30, 2024. Note 5 - Indirect Cost Rate The City did not elect to use the 10-percent de minimis indirect rate as allowed under the Uniform Guidance. Note 6- Contingencies Under the terms of federal and state grants, additional audits may be requested by the grantor agencies and certain costs may be questioned as not being appropriate expenditures under the terms of the grants. Such audits could lead toar request for reimbursement to the grantor agencies. 147 City of Clovis Schedule of Findings and Questioned Costs For the Year Ended June 30, 2024 SECTIONI-S SUMMARY OF AUDITORS' RESULTS Financial Statements Type of auditors' report issued: Internal control over financial reporting: Material weakness(es) identified? Significant deficiency(ies) identified? Noncompliance material to financial statements noted? Unmodified No None Reported No Federal Awards Internal control over major programs: Material weakness(es) identified? Significant deficiency(ies) identified? No None Reported Unmodified No Type of auditors' report issued on compliance for major programs Any audit findings disclosed that are required to be reported in Accordance with 2 CFR200.516(a)? Identification of major programs: Federal Assistance Listing Number 14.218 21.027 Federal Expenditures $ 998,295 328,677 1,326,972 5,387,101 24.63% $750,000 Yes Name of Federal Program or Cluster Community Development Block Grant-Entitlement Coronavirus State and Local Fiscal RecoveryFunds Major Programs: Total Major Program Expenditures Total Expenditures of Federal Awards Percentage of Total Expenditures of Federal Awards Dollar threshold used to distinguish between type A and type B programs Auditee qualified as low-risk auditee in accordance with 2 CFR200.520? 148 City of Clovis Schedule of Findings and Questioned Costs (Continued) For the Year Ended June 30, 2024 SECTONI-FINANCIAL STATEMENT FINDINGS A. Current Year Financial Statement Findings B. Prior Year Financial Statement Findings No financial statement findings were noted for the year ended June 30, 2024. No financial statement findings were noted for the year ended June 30, 2023. SECTION III - FEDERAL AWARDS FINDINGS AND QUESTIONED COSTS A. Current Year Findings and Questioned Costs = Major Federal Award Program Audit B. Prior' Year Findings and Questioned Costs - Major Federal Award Program Audit Not findings or questioned costs were noted on major federal award programs for the year ended June 30, 2024. Not findings or questioned costs were noted on major federal award programs for the year ended June 30, 2023. 149 (This page is intentionally left blank) 150 THE, PUNGROUP ACCOUNTANTSG ADVISORS 4660 La. Jolla Village Drive, Suite 100 San Diego, Califoria 92122 www.pungroup.tpa REPORT ON COMPLIANCE AND OTHER MATTERS ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS IN RELATION TO THE LOCAL TRANSPORTATION PURPOSE FUNDS PERFORMED IN Independent Auditors' Report To the Honorable Mayor and Members of City Council oft the City of Clovis Clovis, California We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Clovis, California (the "City"), as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the City's basic financial statements, and have issued our report thereon dated November 25, 2024. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the City's internal control over financial reporting ("internal control") as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, we do not express an opinion A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the City's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were on the effectiveness of the City's internal control. merit attention by those charged with governance. not identified. ORANGE COUNTY . SAN-DIEGO . SACRAMENTO . WALNUT CREEK LAS VEGAS . PHOENIX 0O6 To the Honorable Mayor and Members of City Council Report on Compliance and Other Matters oft the City of Clovis Page 2 As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, including the requirements of the California Public Utilities Code Section 142257 regulations as it applies to Local Transportation Purpose Funds noncompliance, with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with such provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported herein under the California Public Utilities Code Section 142257 regulations as applies to Local Transportation Purpose Funds and Govemment Auditing Standards. Purpose of This Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards inc considering the City's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. The San Diego, California November 25, 2024 LP faiGwf, 152 THE PUNGROUP ACCOUNTANTSG ADVISORS 4660 La Jollay Village! Drive, Suite 100 San Diego, California 92122 www.Pungroup.cpa INDEPENDENT ACCOUNTANTS REPORT ON APPLYING AGREED-UPON PROCEDURES To the Honorable Mayor and Members of City Council of the City of Clovis Clovis, California We have performed the procedures enumerated below to the accompanying Appropriations Limit Schedule of the City of Clovis, California (City) for the year ended June 30, 2024. The management of the City is responsible for the The City has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of meeting the requirements set forth in Section 1.5 of Article XIII-B of the California Constitution. These procedures, which were suggested by the League of California Cities and presented in the publication entitled Agreed-upon Procedures Applied to the Appropriations Limitation Prescribed by Article XIII-B of the California Constitution, were performed solely to assist you in meeting the requirements. This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the Appropriations Limit Schedule. procedures performed are appropriate for their purposes. The procedures and the associated findings are as follows: 1. We obtained the completed worksheets for the year ended June 30, 2024 and compared the limit and annual adjustment factors included in those worksheets to the limit and annual adjustment factors included in those worksheets to the limit and annual adjustment factors that were adopted by resolution of the City Council. We also compared the population and inflation options included in the aforementioned worksheet to those that were selected by a recorded vote of the City Council. Finding: No exceptions were noted as a result of our procedures. and agreed the resulting amount to this year's limit. Finding: No exceptions were noted as a result of our procedures. corresponding information iny worksheets used by the City. Finding: No exceptions were noted as a result of our procedures. 2. For the accompanying: Appropriations Limit Schedule, we added the last year's limit to the total adjustments, 3. We compared the current year information presented in the accompanying Appropriations Limit Schedule to 4. We compared the prior year appropriations limit presented in the accompanying Appropriations Limit Schedule to the prior year appropriations limit adopted by the City Council for the prior year. Finding: No exceptions were noted as a result of our procedures. ORANGE COUNTY . SAN DIEGO - SACRAMENTO * WALNUT CREEK - LAS VEGAS - PHOENIX 0O6n To the Honorable Mayor and Members oft the City Council oft the City of Clovis Clovis, California Page2 We were engaged by the City to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engagedt to, and did not, conduct an examination or review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the accompanying Appropriation Limit Schedule. Accordingly, we do note express such an opinion or conclusion. Had we performed additional procedures, other matters might have We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the This report is intended solely for the information and use of the City Council and management of the City and is not intended to be and should not be used by anyone other than these specified parties. However, this report is a matter come to our attention that would have been reported to you. relevant ethical requirements related to our agreed-upon procedures engagement. of public record and its distribution is not limited. Lyp fapfi The San Diego, California November 25, 2024 154 City of Clovis Appropriations Limit Schedule For the Year Ended June 30, 2024 Amount 384,447,189 Source Prior year A. Appropriations Limit FY 2023 B. Calculation Factors: 1) Population increase % 2) Inflation increase % 3) Total adjustment % C.A Annual Adjustment Increase D. Other Adjustments: 1) Loss responsibility () 2) Transfer to private () 3) Transfer tot fees () 4) Assumed responsibility( (+) . Total Adjustments F.A Appropriations Limit FY 2024 1.0080 1.0444 1.0528 20,281,589 State Department of Finance State Department of Finance (B1*B2) [A*(B3-1)] N/A N/A NIA N/A (C+D) (A+E) 20,281,589 404,728,778 155 City of Clovis Notes to Appropriations Limit Schedule For the Year Ended June 30, 2024 Note 1-F Purpose of Limited Procedures Review Under Article XIIIB of the California Constitution (the Gann Spending Limitation Initiative), California governmental agencies are restricted as to the amount of annual appropriations from proceeds of taxes. Effective for years beginning on or after. July 1, 1990, under Section 1.5 of Article XIIIB, the annual calculation of the appropriations limit iss subject to al limited procedures review in connection with the annual audit. Note 2-1 Method of Calculation Under Section 10.5 of Article XIIIB, for fiscal years beginning on or after July 1, 1990, the appropriations limit is required to be calculated based on the limit for the fiscal year 1986-87, adjusted for the inflation and population factors discussedi in Notes 3 and 4 below. Note 3-F Population Factors A California governmental agency may use as its population factor either the annual percentage change of the jurisdiction's own population or the annual percentage change in population of the county where the jurisdiction is located. The factor adopted by the Cityf for fiscal year 2024 represents the annual percentage change in population for the City. Note 4- - Inflation Factors A California governmental agency may use as its inflation factor either the annual percentage change in the 4th quarter per capita personal income (which percentage is supplied by the State Department of Finance) or the percentage change in the local assessment roll from the preceding year due to the change of local nonresidential construction. The factor adopted by the City for fiscal year 2024 represents the annual percentage change in per capita personal income. Note 5- Other Adjustments A California government agency may be required to adjust its appropriations limit when certain events occur, such as the transfer of responsibility for municipal services to, or from, another government agency or private entity. The City had no such adjustments for fiscal year 2024. 156