HomeMy WebLinkAboutItem 4.6 - 3513 FY 2019-20 CAFR (2)
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STAFF REPORT
CITY COUNCIL
DATE: December 15, 2020
TO: Honorable Mayor and City Councilmembers
FROM:
Linda Smith, City Manager
SUBJECT:
Comprehensive Annual Financial Report (CAFR) and Annual Audit for
Fiscal Year Ending June 30, 2020 and Supplemental Reports Completed
by the Auditors
Prepared by: Lisa Hisatomi, Director of Administrative Services
EXECUTIVE SUMMARY:
The City Council will receive the Comprehensive Annual Financial Report (CAFR),
for the Fiscal Year ending June 30, 2020. This report includes financial statements
prepared by Staff along with the audit prepared by Badawi and Associates, the
independent auditors selected by the City Council. The CAFR is a report which
encompasses information beyond minimum financial reportin g requirements. The
Auditors have provided a "clean opinion" based on their review.
The Auditors have also completed the following supplemental reports: 1) a
compliance audit of the Alameda County Transportation Commission Measure B
Funds; 2) a compliance audit of the Alameda County Transportation Commission
Measure F Fund Vehicle Registration Fee Program; 3) a compliance audit of the
Alameda County Transportation Commission Measure BB Funds; 4) a compliance
audit of the State of California Transportation Development Act Fund; and 5) a
review of the City's Annual Appropriations Limit Calculation.
These reports have been reviewed by the City Council Ad -Hoc Audit Subcommittee.
STAFF RECOMMENDATION:
Receive the reports.
FINANCIAL IMPACT:
Summarized financial information is discussed in this Staff Report, and Attachment 1
provides a guide to key information found in the CAFR. The full CAFR is included as
Attachment 2. All other audit reports are included as Attachments 3 -8.
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DESCRIPTION:
The City of Dublin has prepared its Comprehensive Annual Financial Report (CAFR) for
the Fiscal Year ending June 30, 2020. The CAFR (Attachment 2) includes audited
financial statements reviewed by Badawi and Associates, the independent auditors
selected by the City Council.
Ad-Hoc Audit Committee Review
The auditors met with the City Council Ad-Hoc Audit Committee, comprising City
Councilmember Josey and Councilmember Kumagai, on December 8, 2020, to review
the results of the audit. The interaction of the auditors directly with representatives of
the elected body is a key component to audit standards and provides committee
members an opportunity to discuss the report and ask questions of the auditors.
Overall, based on their testing and review, the auditors granted the Cit y a "clean
opinion" (see CAFR pages 1-3), meaning that the City's financial statements present
fairly, in all material respects, the financial position of the City.
Financial Overview
Attachment 1 provides a guide to key elements contained in the CAFR. S ome of the
important financial results include an increase of $28.7 million in net assets, as shown
in Table 1 below. This change is on an entity -wide basis and includes both capital
assets as well as restricted funds. Included in the Management Discussion and Analysis
section of the CAFR is a discussion of the changes in Net Assets (CAFR pages 6 on). It
is important to note that the amount reported as Total Net Assets includes:
1. $539.8 million (64% of total net assets) in investments in capital assets (e.g. land,
infrastructure, buildings, and equipment).
2. $109.9 million (13% of total net assets) are subject to external restrictions on how
they can be used, such as development impact fee funds.
3. $193.4 million (23% of total net assets) in net assets are unrestricted.
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TABLE 1: SUMMARY OF NET POSITION
June 30, 2020 and 2019
June 30, 2020 June 30, 2019 $ Change % Change
Item
Current and Other Assets 320,752,157 304,210,680 16,541,477 5.4%
Notes Receivable 15,919,535 15,098,282 821,253 5.4%
OPEB Asset 4,191,028 1,724,741 2,466,287 143.0%
Capital Assets 539,809,963 531,251,006 8,558,957 1.6%
Total Assets 880,672,683 852,284,709 28,387,974 3.3%
Deferred Outflows of Resources 4,964,988 4,802,003 162,985 3.39%
Current Liabilities 22,436,065 23,953,064 (1,516,999) -6.3%
Noncurrent Liabilities 15,861,699 16,318,907 (457,208) -2.8%
Total Liabilities 38,297,764 40,271,971 (1,974,207) -4.9%
Deferred Inflows of Resources 4,200,088 2,449,332 1,750,756 71.5%
Net Investment in Capital Assets 539,809,963 531,251,006 8,558,957 1.6%
Restricted 109,947,040 105,409,183 4,537,857 4.3%
Unrestricted 193,382,816 177,705,220 15,677,596 8.8%
Total Net Position 843,139,819 814,365,409 28,774,410 3.5%
Governmental Activities
Auditors’ Communication (Governance Letter) (Attachment 3)
The Governance Letter includes a report on the City's accounting and reporting
procedures, as well as recommendations for process improvements. The report does
not note any issues for Fiscal Year 2019-20.
Designations of Fund Balances
The City's Fund Balance and Reserves Policy conforms to required standards enacted
by the GASB. A listing of the FY 2019-20 year-end major fund reserves established in
accordance with this policy is shown on CAFR page 74. The following table summarizes
the fund balances for all City funds:
TABLE 2: GOVERNMENTAL FUND BALANCE CHANGES
June 30, 2020 and 2019
June 30, 2020 June 30, 2019 $ Change % Change
General Fund 190,649,221 171,225,773 19,423,448 11.3%
Affordable Housing Fund 29,121,150 28,731,551 389,599 1.4%
Measure BB Grant Fund (3,017,852) (3,619,580) 601,728 16.6%
Capital Improvement Funds 59,628,164 62,835,345 (3,207,181) -5.1%
Other Governmental Funds 15,643,367 15,405,858 237,509 1.5%
Total Governmental Funds 292,024,050 274,578,947 17,445,103 6.4%
As shown above, General Fund Reserves totaled $190.6 million as of June 30, 2020.
$58.4 million of that is available for cash flow purposes, equating to approxima tely eight
months of budgeted operating expenditures in Fiscal Year 2020-21. This exceeds the
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target as guided by the City Policy, which sets the cash flow goal at between two and
four months of the next year's budget.
Additional Reports Prepared by Auditors
In addition to the audit of the financial statements, the auditor engagement also
included the completion of specialized reports. The five supplemental reports are:
1. A compliance audit of Alameda County Transportation Commission (ACTC)
Measure B Funds
2. A compliance audit of the ACTC Vehicle Registration Fee (Measure F) Program
3. A compliance audit of the ACTC Measure BB Funds
4. A compliance audit of the Transportation Development Act (TDA) Fund
5. A review of the City's Annual Appropriations Limit Calculation
The City did not meet the threshold of $750,000 in expenditures of federal funds in
Fiscal Year 2019-20, and therefore was not required to complete a Federal Grant Single
Audit Report. The following briefly summarizes each supplemental report:
ACTC Measure B Funds Report (Attachment 4)
ACTC provides local funding via two local programs: 1) Local Street Improvements; and
2) Bicycle and Pedestrian Improvements. During Fiscal Year 2019-20, the following
projects were funded by Measure B:
- Alamo Creek Trail Repair
- Amador Valley Blvd. - Wildwood Road Intersection Improvements
- Annual Street Resurfacing
- Citywide Bicycle and Pedestrian Improvements
The compliance audit found that, based on the information reviewed and presented, the
expenditures were materially in compliance with the program requirements.
As of June 30, 2020, the Local Streets fund balance of $307,369 is assigned to a
Capital Reserve for the continued street improvement projects, and the Bike/ Pedestrian
fund balance of $202,655 is restricted to the appropriate related bike and pedestrian
program improvements.
ACTC Vehicle Registration Fee (Measure F) Report (Attachment 5)
The City of Dublin uses a Special Revenue Fund to account for the funds collected
through the ACTC's Vehicle Registration Fee. The goal of the program is to sustain the
County's transportation network through a distribution of the funds throughout the
County on successive five-year cycles.
As of June 30, 2020, the ACTC VRF fund had a balance of $284,556 in restricted funds.
The Fiscal Year 2019-20 budget appropriated funds from this source to support
upgrades to citywide traffic signals.
ACTC Measure BB Funds Report (Attachment 6)
Alameda County Measure BB was approved by the voters in November 2014, with 70%
of the vote. The fee is expected to generate about $30 billion over the next 30 years
funded by an additional one-half cent sales tax to be used for transportation related
expenditures. The program includes four categories of projects: 1) Transit; 2) Affordable
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Transit for Seniors and People with Disabilities; 3) Local Streets and Roads; and 4)
Bicycle and Pedestrian Path and Safety.
As of June 30, 2020, the Measure BB Fund had a restricted fund balance of $477,097
for Local Streets and Roads, and $198,091 restricted for Bicycle and Pedestrian
improvements. During Fiscal Year 2019-20, the following projects were funded by
Measure BB:
- Alamo Creek Trail Repair
- Amador Valley Blvd. - Wildwood Road Intersection Improvements
- Annual Street Resurfacing
- Citywide Bicycle and Pedestrian Improvements
TDA Report (Attachment 7)
TDA grants are granted by the State and distributed through the Metropolitan
Transportation Commission (MTC), which is the agency responsible for allocation of
funds to eligible agencies within the greater San Franci sco Bay area. The TDA grant
funds in the amount of $210,000 allocated to the City are for bicycle and pedestrian
improvements.
During Fiscal Year 2019-20, $71,773 was spent on the Citywide Bicycle and Pedestrian
Improvements project, and the remaining of the grant, in the amount of $138,227, has
been carried over to FY 2020-21.
Appropriation Limit Schedule Report (Attachment 8)
State law requires the adoption of an Appropriations Limit (Limit) which must be
included in the Budget document. The City Council adopts the Limit by resolution, and it
is adjusted annually based on factors establish ed in State Law. The Limit applies only to
appropriations that are funded by "proceeds of taxes." The Limit for the City of Dublin is
substantially more than the amount of revenue generated from taxes. The Auditors
reviewed the calculation used to develop the $398,039,721 Limit as presented in the
Fiscal Year 2020-21 Budget. There were no exceptions noted in the findings.
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
None.
ATTACHMENTS:
1. Summary - Key Information
2. City of Dublin CAFR Fiscal Year 2019-20
3. City of Dublin Fiscal Year 2019-20 Auditors’ Communication with Those Charged with
Governance
4. City of Dublin Fiscal Year 2019-20 Measure B Report
5. City of Dublin Fiscal Year 2019-20 Measure F Report
6. City of Dublin Fiscal Year 2019-20 Measure BB Report
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7. City of Dublin Fiscal Year 2019-20 Transportation Development Act Fund Report
8. City of Dublin Appropriations Limit Fiscal Year 2020-21
SUMMARY - KEY INFORMATION
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDING JUNE 30, 2020
City Council Meeting December 1 5, 2020
1. The reports include audited financial statements reviewed by the City's audit firm, Badawi
& Associates.
2. The auditors’ opinion is that the City's financial statements fairly represent the City's
financial position.
3. The CAFR format will allow the City to apply for a Certificate of Achievement from the
Government Finance Officers Association (GFOA). The goal is to provide financial
information of the highest quality, in a transparent manner.
4. ORGANIZATION OF REPORT:
a. Transmittal letter (pages v-xiii): provides a general overview of economic and
budgetary factors that impact the City.
b. Opinion (pages 1-3): issued by the Independent Auditor on the City’s financial
position and compliant with generally accepted accounting principles.
c. Management Discussion and Analysis (MD&A) (pages 5-20): provides an
overview of the financial activities, with a focus on significant trends, as well as
major changes in the City's major funds (i.e. General Fund and Impact Fee funds).
d. Financial Statements: a significant portion of the CAFR is comprised of financial
statements and schedules for the various funds used to account for the City's
revenue and expenditures. Pages 24-26 present the Government-Wide Statement
of Net Position, which presents the City’s finances in a format similar to financial
statements used by private corporations. That section is followed by financial
statements for each fund.
e. Statistical Section (pages 178-end): the unaudited statistical section of the CAFR
includes relevant historical data.
5. Fund Balances - A complete listing of fund reserves and designations for all major funds
is shown on page 74 of the report.
6. Audit Recommendations / Disclosures - As part of the Audit Review the independent
auditors can present recommendations for consideration by the City. The process allows
the Auditors to disclose their observations on certain practices and policies that need
improvement. The report for Fiscal Year 2019-20 does not note any findings. This
information is presented as a separate document titled " Auditors’ Communication with
Those Charged with Governance".
ATTACHMENT 1
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
Fiscal Year ended June 30, 2020
City of Dublinc a l i f o r n i a
Dublin, California
Comprehensive Annual Financial Report
For the year ended June 30, 2020
Prepared by:
Administrative Services Department
City of Dublin
Comprehensive Annual Financial Report
For the year ended June 30, 2020
Table of Contents
i
Page
INTRODUCTORY SECTION
Table of Contents ...................................................................................................................................................... i
Letter of Transmittal ................................................................................................................................................. v
Principal Officers ...................................................................................................................................................... xiv
Organizational Chart ................................................................................................................................................ xv
GFOA Certificate of Excellence in Financial Reporting ...................................................................................... xvi
FINANCIAL SECTION
Independent Auditors’ Report .............................................................................................................................. 1
Management’s Discussion and Analysis ............................................................................................................. 5
Basic Financial Statements:
Government-Wide Financial Statements:
Statement of Net Position ........................................................................................................................... 24
Statement of Activities ................................................................................................................................ 26
Fund Financial Statements:
Governmental Fund Financial Statements:
Balance Sheet .......................................................................................................................................... 30
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position ................................................................. 33
Statement of Revenues, Expenditures and Changes in Fund Balances ......................................... 34
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures, and Changes in Fund Balances to the Government-Wide
Statement of Activities ................................................................................................................... 37
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual:
General Fund ................................................................................................................................... 38
Affordable Housing Special Revenue Fund ............................................................................... 39
Measure BB Grants Special Revenue Fund ................................................................................. 40
City of Dublin
Comprehensive Annual Financial Report
For the year ended June 30, 2020
Table of Contents, Continued
ii
Page
FINANCIAL SECTION, Continued
Proprietary Fund Financial Statements:
Statement of Net Position ..................................................................................................................... 42
Statement of Revenues, Expenses and Changes in Fund Net Position ......................................... 43
Statement of Cash Flows ...................................................................................................................... 44
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Position ................................................................................................... 47
Notes to Basic Financial Statements ................................................................................................................ 51
Required Supplementary Information (Unaudited):
Defined Benefit Pension Plan
Schedule of the City’s Proportionate Share of the Net Pension Liability – Last 10 Years ................. 93
Schedule of Contributions – Last 10 Years ............................................................................................... 93
Other Post Employment Benefits (OPEB)
City Retiree Health Plan – Schedule of Changes in Net OPEB Liability and
Related Ratios ........................................................................................................................................ 94
DRFA Retiree Health Plan – Schedule of Changes in Net OPEB Liability and
Related Ratios ........................................................................................................................................ 95
Schedule of City Retiree Health Plan Contributions – Last 10 Years ................................................... 95
Supplementary Information:
General Fund – Budget Versus Actual
Schedule of Budget Versus Actual Revenue by Sources ........................................................................ 99
Schedule of Budget Versus Actual Departmental Expenditures .......................................................... 102
Budgeted Major Governmental Funds Other than General Fund and Special Revenue Funds:
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual:
General Improvements Projects Capital Projects Fund ................................................................... 107
Parks Projects Capital Projects Fund .................................................................................................. 108
Streets Projects Capital Projects Fund ................................................................................................ 109
City of Dublin
Comprehensive Annual Financial Report
For the year ended June 30, 2020
Table of Contents, Continued
iii
Page
FINANCIAL SECTION, Continued
Public Facilities Impact Fees Capital Projects Fund ......................................................................... 110
Fire Impact Fees Capital Projects Fund .............................................................................................. 111
Traffic Impact Fees Capital Projects Fund ......................................................................................... 112
Dublin Crossing Contribution Capital Projects Fund ...................................................................... 113
Non-Major Governmental Funds:
Combining Balance Sheet .................................................................................................................................. 118
Combining Statement of Revenues, Expenditures and Changes in Fund Balances ................................. 124
Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual ................. 130
Internal Service Funds:
Combining Statement of Net Position ............................................................................................................. 164
Combining Statement of Revenues, Expenses and Changes in Net Position ............................................ 166
Combining Statement of Cash Flows .............................................................................................................. 168
Fiduciary Funds:
Combining Statement of Assets and Liabilities ............................................................................................. 173
Statement of Changes in Agency Funds Assets and Liabilities ................................................................... 174
STATISTICAL SECTION (Unaudited)
Net Position by Component .................................................................................................................................... 178
Changes in Net Position ........................................................................................................................................... 180
Fund Balances of Governmental Funds ................................................................................................................. 184
Changes in Fund Balances of Governmental Funds ............................................................................................ 186
Assessed Value of Taxable Property ...................................................................................................................... 188
Direct and Overlapping Property Tax Rates ......................................................................................................... 190
Principal Property Taxpayers ................................................................................................................................. 192
Property Tax Levies and Collections ..................................................................................................................... 193
Direct and Overlapping Debt .................................................................................................................................. 194
City of Dublin
Comprehensive Annual Financial Report
For the year ended June 30, 2020
Table of Contents, Continued
iv
Page
STATISTICAL SECTION (Unaudited), Continued
Legal Debt Margin Information ........................................................................................................................... 196
Demographic and Economic Statistics ................................................................................................................ 198
Property Value, Construction, and Bank Deposits ............................................................................................ 199
Principal Employers ............................................................................................................................................... 200
Full-Time Equivalent City and Contract Government Employees by Function ........................................... 202
Operating Indicators by Function/Program ...................................................................................................... 204
Capital Asset Statistics by Function/Program ................................................................................................... 206
Top 25 Sales Tax Producers .................................................................................................................................. 208
Miscellaneous Statistical Data .............................................................................................................................. 209
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December 15, 2020
Honorable Mayor and Members of the City Council:
Presented with this letter is the City of Dublin (City) Comprehensive Annual
Financial Report (CAFR) for the year ended June 30, 2020. The information
in this Comprehensive Annual Financial Report is prepared in accordance with
Generally Accepted Accounting Principles (GAAP) as established by the
Governmental Accounting Standards Board (GASB).
The responsibility for the accuracy and fairness of this report rests with the City.
Management Staff are responsible for preparing a complete report which is based
upon reliable information. Badawi & Associates, a firm of licensed public
accountants, has issued an unmodified (“clean”) opinion on the City of Dublin’s
financial statements for the year ended June 30, 2020. The independent auditor’s
report has been included in this Comprehensive Annual Financial Report.
This letter of transmittal is designed to assist with an individual’s review of the
City’s financial statements. Specifically, it is intended to offer the reader useful
information in assessing the economic conditions impacting the City of Dublin.
It also complements the separate Management’s Discussion and Analysis
(MD&A) narrative section, which provides financial highlights of the City and
additional analysis of trends reported as part of the financial statements. The
MD&A is located immediately following the report of the independent auditors.
CITY PROFILE
The City of Dublin was incorporated in 1982 and is located in Alameda County,
in the eastern portion of the San Francisco Bay Area. In 2011, the City was named
an “All-America City” by the National Civic League, one of the nation’s oldest
and most prestigious civic organizations. And, in 2018 the City was named one
of the best places to live in the United States, according to Money Magazine.
The City provided for a permanent staffing level of approximately 94 full-
time equivalent City employees in the FY 2019-20 budget cycle, in addition to
temporary and contract personnel. The City serves an estimated population of
65,716 covering 14.91 square miles. The City’s strategic location offers
opportunities for employers, retailers, and high-quality residential
neighborhoods.
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The City operates under the Council-Manager form of government. Policy-making and legislative
authority are vested in the City Council, which consists of a directly elected Mayor, who serves
a two-year term, and four at-large Council members each elected to a four-year term. The City
Council is responsible for the City’s ordinances, operating resolutions, adoption of the annual
budget, hiring the City Manager and City Attorney and confirming the appointments made by
the Mayor to commissions and committees. The City Manager is responsible for implementing
the policies, ordinances, and directives of the City Council, overseeing the day-to-day operations
of the City, and the appointments of the City’s departments. The City Attorney provides legal
counsel on City business, drafts and reviews ordinances, resolutions and contracts, and represents
the City in certain litigation.
The City’s biennial budget serves as the foundation for the City’s financial planning and control.
The operating budget is adopted by the City Council on an annual basis prior to July 1 of each
year. During mid-cycle, a review and update are prepared and presented to the City Council for
the adoption of the second year’s budget. The City Council exercises budgetary control at the
fund level. Formal budgetary integration is employed as a management control device during
the fiscal year for the General Fund, Special Revenue Funds, Capital Projects Funds, Enterprise
Funds and Internal Service Funds. The budgeted funds are adopted on a basis consistent with
GAAP in the United States. Expenditures may not legally exceed budgeted appropriations at the
fund level. Management does not have the authority to increase the budget without the approval
of the City Council. However, the City Manager may authorize budgetary transfers from one
account to another within the same fund, appropriate funds from Committed and Assigned fund
balances that have been approved by the City Council for specific purposes and appropriate funds
for asset replacement funded by the City’s Internal Services Replacement funds.
Current City services include: the City Manager’s Office (including General Administration,
Human Resources, Communications, City Clerk/Records, Disaster Preparedness, Information
Systems, and Economic Development); Administrative Services (Finance and Risk); City
Attorney; Police Services; Fire Services; Community Development
(Building/Planning/Housing); Parks and Community Services; and Public Works
(Engineering/Maintenance). The City contracts with both public agencies and private firms to
provide a variety of key services including: Building Inspection; Fire; Police; and Public Works
maintenance. A total of 150.91 FTE contract employees were included in the City budget
in FY 2019-20.
HIGHLIGHTS
The City of Dublin is located at the intersection of Interstates 580 and 680 approximately 35
miles east of San Francisco. The City delivers a broad range of community services and has a
wide range of housing types available to meet the demands of various employers throughout
the region. Over the past several years residential builders and developers have constructed a
variety of new housing options, which include a mix of transit-oriented development adjacent to
the City’s two Bay Area Rapid Transit (BART) stations, as well as single family homes and
condominium / townhome developments. The proximity to additional job centers and colleges
and universities in the Bay Area creates an attractive environment.
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Much of the recent growth in the community, which is now in its final phases of completion,
was planned in the voter-approved 1994 Eastern Dublin Specific Plan. This vision has allowed a
strong foundation and quality neighborhoods and public facilities to be built citywide. New
developments in the Downtown Dublin Specific Plan area, specifically in the Transit District,
have provided housing opportunities as well as new potential retail space that will support a high
quality of life in Dublin. In addition, the City’s aquatics complex, The Wave, offers residents and
visitors a recreation destination with pools, slides, and play structures situated in the center of the
community.
Development over the past decade has had positive budgetary impacts, allowing the City to make
significant investment in our community-serving facilities, such as our excellent parks. While
careful financial stewardship has put Dublin in a strong fiscal position, it is important that we
look to ensure the stability of the community’s long-term fiscal condition so that we may
continue to provide high-quality services, particularly as the City reaches build-out.
Key City activities and accomplishments during FY 2019-20 include the following:
Economic Development
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Government Administration
The City has continued to implement programs to enhance community engagement efforts to better
connect and inform residents of City activities. The City strengthened social media efforts with the
addition of several new platforms and created a series of public service announcements. For the 16th
consecutive year, the City held the annual Inside Dublin Leadership Academy, a seven-week
program in which Dublin residents learned about many aspects of the City’s municipal operations
including infrastructure, public safety, and community development.
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Awards and Honors
In FY 2019-20 the City and its staff received numerous awards and honors for accomplishments
in various areas of community services and improvements. These include the following:
− “A” Grade from the American Lung Association
− “A+” Grade, “Best Places to Live,” from Niche.com
− #2 “Best Place to Live in Northern California,” from Moneyinc.com
− Achievement in Pavement Maintenance - #1 in San Francisco Bay Area for sixth straight year,
from Metropolitan Transportation Commission
− Laurie Sucgang, Manager of the Year – Administrative Management; Nancy Nelson, Staff of
the Year – Administrative Management; and consultant Lorin Jensen, Staff of the Year –
Engineering and Technology, from the Northern California Chapter of the American Public
Works Association
− Deputy Christina Blaylock, Dublin Police Services Officer of the Year; and Public Education
Assistant Rachel Messenger, Dublin Fire Services’ Person of the Year, from Dublin Rotary
Club
FINANCIAL OUTLOOK
The COVID-19 pandemic and related shelter-in-place restrictions have had a significant impact
on the national and local economies, with indicators showing signs of a coming recession.
Locally, the City faced operational impacts particularly related to the closing of City facilities and
the suspension of certain programs. In addition, the City is experiencing large revenue losses,
including taxes and investment income, that are tied to declines in the broader economy. Staff
expects these impacts to continue for the foreseeable future and prepared the current two-year
budget with this in mind.
Property Tax revenue in Fiscal Year 2019-20 increased along with a gain in net assessed valuation
by $1.7 billion (10.4%) over the prior year, which was the largest percentage growth in Alameda
County. The COVID-19 pandemic did not have a significant impact on Property Tax revenues
since the values were placed on the tax roll in calendar year 2018, and there were no significant
delinquencies.
Overall Sales Tax came in $3.4 million (13.6%) lower than Fiscal Year 2018-19. While the City
had expected a decline from the prior year due to one-time receipts in Fiscal Year 2018-19 and to
flattening sales in the Autos and Transportation sector, the COVID-19 pandemic and related
shutdowns aggravated the decline. In the first two combined quarters of calendar year 2020
compared to the same period the previous year, declines were seen in Autos and Transportation
(-9.5%), General Consumer Goods (-21.1%), Business and Industry (-10.7%), Restaurants and
Hotels (-24.5%), Building and Construction (-13.2%), and Fuel and Transportation (-21.0%).
Some of this decrease may be attributed to deferred payments, however much of it is related to
the business closures and modified operations.
Development-related revenue is the third largest revenue stream, making up 6.9% of the total
General Fund revenues in FY 2019-20. Overall development revenue came in at $6.6 million, a
decrease of $3.9 million (37.0%) from FY 2018-19, the decrease is due to the slowdown of
development activities prior to the outbreak of COVID-19, which was exacerbated by the
pandemic and related industry shutdowns. The City anticipates this downward trend will
continue as some of the larger development projects near completion. The City maintains a
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Service Continuity Reserve in the General Fund to ensure that there are future funds to cover
expenditures when development activity slows.
While FY 2019-20 finished with a General Fund surplus of approximately $19.4 million,
including General Fund transfers, long-term fiscal sustainability remains at the forefront of
budget discussions. Despite the continued growth in property tax that was occurring prior to
COVID-19, declining sales tax and development revenues, the rising costs of contracted
services, and the potential for a prolonged recovery from the impacts of COVID-19 are projected
to result in the City facing a deficit beginning in FY 2026-27 as illustrated in the 10-Year Forecast
(Figure 1). The projected deficit will guide the use of reserves and decisions made in the next
operating budget cycle.
Figure 1. 10-Year Forecast
FINANCIAL PLANNING AND POLICIES
The City Council adopted a new, two-year Strategic Plan in Fiscal Year 2019-20. Five specific
strategies were identified to establish the framework and overarching policy focus for the delivery
of public services to the community; these are contained in the City’s budget document.
Adjustments to programs presented by the City Manager in the budget were tied to the
prioritization of elements within the Strategic Plan.
The City adopts a balanced operational budget in accordance with City policies and uses a two-
year budget format. The City Council adopts a final budget and appropriates funds in advance of
the July 1st start of the new Fiscal Year. In terms of major capital investments constructed with
Impact Fees, the City has operated utilizing a pay-as-you-go philosophy. The City has typically
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operated with no debt financing, though an equipment lease was initiated in FY 2012-13 to fund
various energy-efficient improvements, including solar panels at City facilities. The City paid
off that debt in FY 2018-19.
The financial policies currently used for budgeting also provide for the use of Internal Service
funds to assure resources are available to finance the replacement of public safety vehicles and
apparatus, computer systems, and some building components. The importance of being prepared
to address long-term needs has always been a key principle supported by the City Council. The
City has also proactively financed contributions to fund both pension and retiree health liabilities.
GFOA AWARD
The Government Finance Officers Association (GFOA) has recognized the City of Dublin for
its Comprehensive Annual Financial Report covering the period ending June 30, 2019. A copy
of the award from this entity is included in this report. This award represents the 29th consecutive
year that the City’s report was recognized by the GFOA. In order to be recognized, the City was
required to produce an easily readable and efficiently organized report. The report must also
meet the standard for generally accepted accounting principles and legal requirements.
ACKNOWLEDGEMENTS
The preparation of this report was made possible by the collaborative efforts of staff in the
Administrative Services Department and other departments, as well as the City’s audit firm,
Badawi & Associates. A special thanks and acknowledgement to Yuliana Tjeng, Senior
Accountant, for her work managing the audit process. We would also like to recognize the Mayor
and City Council for their guidance and support in the City’s pursuit of excellence in financial
reporting.
Sincerely,
Linda Smith Lisa Hisatomi
City Manager Director of Administrative Services
xiv
CITY OF DUBLIN
PRINCIPAL OFFICERS
Fiscal Year 2019/2020
Mayor
David Haubert
Vice Mayor Councilmember
Arun Goel Melissa Hernandez
Councilmember Councilmember
Jean Josey Shawn Kumagai
ADMINISTRATION PERSONNEL
City Manager Linda Smith
Assistant City Manager Colleen Tribby
City Attorney John Bakker
Administrative Services Director Lisa Hisatomi
City Clerk Marsha Moore
Chief of Police Garrett Holmes
Community Development Director Jeff Baker
Economic Development Director Hazel Wetherford
Fire Marshal Bonnie Terra
Human Resources Director Julie Carter
Parks & Community Services Director La Shawn Butler
Public Works Director Andrew Russell
xv
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Dublin
California
For its Comprehensive Annual
Financial Report
For the Fiscal Year Ended
June 30, 2019
Executive Director/CEO
xvi
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of the City Council of the City of Dublin
Dublin, California
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, each major fund, and the
aggregate remaining fund information of the City of Dublin, California (City) as of and for the year ended June 30,
2020, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements
as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with
accounting principles generally accepted in the United States of America; this includes the design, implementation,
and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are
free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in
accordance with auditing standards generally accepted in the United States of America and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements
in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial
position of the governmental activities, each major fund, and the aggregate remaining fund information of the City, as
of June 30, 2020, and the respective changes in financial position, and, where applicable, cash flows thereof, and the
respective budgetary comparison for the General Fund, the Affordable Housing and Measure BB Grants Special
Revenue Funds for the year then ended in accordance with accounting principles generally accepted in the United
States of America.
To the Honorable Mayor and Members of the City Council
of the City of Dublin
Dublin, California
Page 2
2
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and
analysis, pension supplementary schedules, and OPEB supplementary schedules on pages 5-20 and 93-95 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.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the
City’s basic financial statements. The introductory section, other budgetary comparison schedules, combining and
individual nonmajor fund financial statements, budgetary comparison schedules of nonmajor funds, and statistical
section, are presented for purposes of additional analysis and are not a required part of the basic financial statements.
The other budgetary comparison schedules, combining and individual nonmajor fund financial statements, and budgetary
comparison schedules of nonmajor funds are the responsibility of management and were derived from and relate directly
to the underlying accounting and other records used to prepare the basic financial statements. Such information has been
subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional
procedures, including comparing and reconciling such information directly to the underlying accounting and other
records used to prepare the basic financial statements or 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,
other budgetary comparison schedules, combining and individual nonmajor fund financial statements, and budgetary
comparison schedules of nonmajor funds are fairly stated in all material respects in relation to the basic financial
statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the
basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.
To the Honorable Mayor and Members of the City Council
of the City of Dublin
Dublin, California
Page 3
3
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 11, 2020, 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 solely to
describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing,
and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting or on compliance.
That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the
City’s internal control over financial reporting and compliance.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
4
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5
Management’s Discussion and Analysis (MDA) June 30, 2020
As management of the City of Dublin (City), we offer readers of the City’s financial statements this
narrative overview and analysis of the financial activities of the City for the Fiscal Year (FY) ended June
30, 2020. Please read this overview in conjunction with the accompanying letter of transmittal and the
accompanying basic financial statements.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis are intended to serve as an introduction to the City’s basic financial statements,
which comprise three components:
Government-wide Financial Statements – These include the Statement of Net Position and
Statement of Activities. These statements provide information about the activities of the City as a
whole and about the overall financial condition of the City in a manner similar to a private-sector
business.
Fund Financial Statements – These statements provide additional information about the City’s
major funds, including how services were financed in the short term and fund balances available
for financing future projects.
Notes to the Financial Statements – The notes provide additional detail that is essential to a full
understanding of the information provided in the Government-wide and Fund Financial Statements.
In addition to the basic financial statements and accompanying notes, this report also presents certain
required supplementary information concerning the City’s progress in funding its obligation to provide
pension benefits to its employees.
GOVERNMENT-WIDE FINANCIAL STATEMENTS - DESCRIPTION
These statements include all assets and liabilities of the City, using the accrual basis of accounting, which
is similar to the accounting used by most private sector companies. All current year’s revenues and expenses
are accounted for regardless of when the cash is paid or received.
These statements report the City’s net position and changes to the net position during the FY. Net position
- the difference between assets and liabilities - are one way to measure the City’s financial position. Over
time, increases or decreases in the net position are among indicators used to assess whether the financial
condition of the City is improving or deteriorating. However, it is also important to consider other
nonfinancial factors, such as: changes in the City’s property tax values, sales tax outlets, and the condition
of the City’s infrastructure (i.e. parks and streets), to accurately assess the overall health of the City.
The Government-wide statements present information about the City’s activities, all of which are
considered governmental in nature. These include services provided for police, fire, community
development, streets, and culture and leisure. These services are funded from monies received from
property, sales and other taxes, direct charges for services provided, grants, contributions from other
agencies, and impact fees collected from new development.
6
GOVERNMENT-WIDE FINANCIAL STATEMENTS – ANALYSIS
Table 1 provides an analysis summarizing the year to year change in the Government-Wide net position
reported for the City of Dublin. By definition the “net position” are represented as the difference between
total assets and total liabilities.
As illustrated in the above table, the City’s net position increased by $28.8 million (3.5%) during FY 2019-
20. This is due to the following:
Total assets increased $28.4 million, due primarily to increases in cash and investments which is part
of current assets, and capital assets. Cash and investments in the General Fund increased by $22.3
million which derived from the net revenue off the expenditures excluding the capital project inter-
transfer for the fiscal year. Capital assets increased by $8.6 million due to the net impact of completion
of capital projects net off increase in depreciation expense from new depreciable assets additions toward
the end of prior year. The completion of Fallon Sports Park Phase 2, a few public art and street projects,
and the acquisition of fire apparatus and police vehicles added approximately $21 million to Capital
Assets, partially offset by $13 million in depreciation expense.
Total liabilities decreased in FY 2019-20 with a net difference of $2.0 million from the prior year.
Current liabilities primarily represent obligations outstanding for current operations (accounts payable),
capital projects (such as retention payable), deferred revenue, and deposits held. The decrease in
liabilities reflects the City’s paying down its accounts payable of approximately $0.5 million and the
$1.4 million installment payment made on the City’s long-term debt pertaining to the land acquisition
for the Dublin Crossing project.
TABLE 1: SUMMARY OF NET POSITION
June 30, 2020 and 2019
June 30, 2020 June 30, 2019 $ Change % Change
Item
Current and Other Assets 320,752,157 304,210,680 16,541,477 5.4%
Notes Receivable (See Note5) 15,919,535 15,098,282 821,253 5.4%
OPEB Asset (Note 11)4,191,028 1,724,741 2,466,287 143.0%
Capital Assets 539,809,963 531,251,006 8,558,957 1.6%
Total Assets 880,672,683 852,284,709 28,387,974 3.3%
Deferred Outflows of Resources 4,964,988 4,802,003 162,985 3.39%
Current Liabilities 22,436,065 23,953,064 (1,516,999) -6.3%
Noncurrent Liabilities 15,861,699 16,318,907 (457,208) -2.8%
Total Liabilities 38,297,764 40,271,971 (1,974,207) -4.9%
Deferred Inflows of Resources 4,200,088 2,449,332 1,750,756 71.5%
Net Investment in Capital Assets 539,809,963 531,251,006 8,558,957 1.6%
Restricted 109,947,040 105,409,183 4,537,857 4.3%
Unrestricted 193,382,816 177,705,220 15,677,596 8.8%
(See Note 8 to Financials for
Classification)
Total Net Position 843,139,819 814,365,409 28,774,410 3.5%
Governmental Activities
7
The City’s $539.8 million in net investment in capital assets represents 64.0% of total reported net
position. Capital asset investments include the City’s investments in land, infrastructure, buildings and
equipment. As the City uses these capital assets to provide current services to residents, the assets are
not available for future spending. The change in annual capital assets reflects the addition of capital
assets (including Construction in Progress) less accumulated depreciation.
Restricted net positions, including a portion of restricted net positions in the General Fund, Affordable
Housing Fund, Impact Fee Funds and Grant Funds, are resources that have external restrictions on their
use. In FY 2019-20, the City’s restricted net positions increased by a net of $4.5 million, attributed to
street improvement capital project expenses. Approximately $193.4 million of the City’s total assets
(an increase of $15.7 million over prior year) are unrestricted and may be used to meet the City’s
ongoing obligations to the community and to creditors. The bulk of unrestricted assets in the General
Fund are already committed and assigned for specific purposes, in accordance with the City’s Fund
Balance and Reserves Policy.
8
GOVERNMENTAL ACTIVITIES
Table 2 below provides a summary of major program expense categories, program revenues used to fund
specific expenses, and general City revenues available for funding all City programs. The information
presented here provides detail behind the numbers shown in the Summary of Net Position (Table 1).
TABLE 2: SUMMARY OF CHANGES IN NET POSITION
June 30, 2020 and 2019
June 30, 2020 June 30, 2019 $ Change % Change
Revenues
Program Revenues
Charges For Services 19,466,324 24,721,051 (5,254,727) -21.3%
Operating Contributions & Grants 4,940,586 7,633,916 (2,693,330) -35.3%
Capital Grants & Contributions 9,192,691 34,517,687 (25,324,996) -73.4%
Total Program Revenue 33,599,601 66,872,654 (33,273,053) -49.8%
General Revenues
Property Taxes 49,086,335 44,293,602 4,792,733 10.8%
Special Assessments Taxes 1,523,257 1,469,840 53,417 3.6%
Sales Taxes 22,506,975 26,297,803 (3,790,828) -14.4%
Other Taxes 7,280,323 8,223,510 (943,187) -11.5%
Investment Income, Unrestricted 10,485,543 8,589,252 1,896,291 22.1%
Intergovernmental, Unrestricted 306,425 287,811 18,614 6.5%
Other General Revenues 1,969,966 2,195,719 (225,753) -10.3%
Total General Revenue 93,158,824 91,357,537 1,801,287 2.0%
Total Revenues 126,758,425 158,230,191 (31,471,766) -19.9%
Expenses
Governmental Activities:
General Government 24,851,393 16,859,216 7,992,177 47.4%
Police 22,483,378 21,814,982 668,396 3.1%
Fire 14,122,166 13,583,965 538,201 4.0%
Public works 21,103,350 24,131,711 (3,028,361) -12.5%
Park and Community Services 10,548,537 11,847,056 (1,298,519) -11.0%
Community Development 5,406,572 5,606,118 (199,546) -3.6%
Total Governmental Activites 98,515,396 93,843,048 4,672,348 5.0%
Increase In Net Position 28,243,029 64,387,143 (36,144,114) -56.1%
Net Position - Beginning of Year 814,896,790 749,978,266
GASB 75 Adjustment - DRFA - 531,381 (531,381) -100.0%
Net Position - Beginning of Year as Restated 814,896,790 750,509,647 64,387,143 8.6%
Net Position - End of Year 843,139,819 814,896,790 28,243,029 3.5%
9
As shown in Table 2, revenues from all sources totaled $126.8 million and expenses for all City programs
totaled $98.5 million in FY 2019-20. The City’s net position increased $28.2 million.
Revenues
Overall revenues decreased $31.5 million, or 19.9%, in FY 2019-20 over to the prior year. Changes
included:
Charges for Services decreased $5.3 million due to the March 2020 shelter-in-place order. The City
experienced a significant decrease in Parks and Recreation program revenues as many recreation
programs were cancelled; and the slowdown of development activities prior to the outbreak of
COVID-19, which was exacerbated by the pandemic and industry shutdown, contributed to
development revenue losses.
Capital Grants and Contributions decreased $25.3 million due to a one-time $12.6 million asset
contribution from the developer for the dedication of Jordan Ranch Neighborhood Park to the City
in the prior year, and a decrease in developer in-lieu fees by $10 million due to the timing of
development activities and the impact of the COVID-19 pandemic.
Property Taxes increased $4.8 million, resulting from an increase to overall assessed property
valuations from the number of new homes built since last fiscal year, the number of property sales,
and the annual increase to taxable valuations.
Sales Taxes decreased $3.8 million as the result of non-recurring revenue in prior year, flattening
sales in the Autos and Transportation sector, and the overall decline related to the COVID-19
pandemic and related shutdowns.
Expenses
Total expenses increased $4.7 million, or 5.0%, in FY 2019-20 compared to the prior year. The following
factors contributed to the overall increase:
General Government expenses increased by a net $8.0 million due to the City’s one-time land
acquisition of $3.0 million as part of the City’s Downtown Preferred Vision project, $2.6 million
in refunds issued for the Dublin Crossing Transportation Fee received in exchange for the
developer’s credit held by the City, and an increase in the Waste Management cost, which was
offset by increase in revenues.
Public Works expenses decreased $3.0 million due to lower spending on capital improvement
maintenance projects compared to the prior year. The last payment of $0.5 million for the Energy
Efficiency lease in the prior year also contributed to lower expenses in the FY 2019-20.
Park and Community Services expenses decreased by $1.3 million due primarily to the cancellation
of recreation programs during the COVID-19 pandemic, which reduced seasonal staff salaries,
contract services costs for recreational instructors, and operating supplies costs.
10
Revenues and Expenses by Category
The following chart presents the Government-Wide FY 2019-20 revenues (in thousands). Approximately
80% of the total revenue is from four sources: 1) Property taxes, 39%; 2) Sales Taxes, 18%; 3) Charges for
Services, 15%; and 4) Investment Income, 8%. This is relatively consistent with the prior year.
Charges for Services
$19,466, 15%
Operating Grants
& Contributions
$4,941, 4%
Capital Grants
& Contributions
$9,193, 7%
Property Taxes
$49,086, 39%
Special Assessments
$1,523, 1%
Sales Taxes
$22,507, 18%
Other Taxes
$7,280, 6%
Investment Income
$10,486, 8% Intergovernmental
$306, 0%
Other General
Revenues
$1,970, 2%
11
The following chart demonstrates the allocation of Government-Wide expenses in FY 2019-20 (in
thousands). Of the $98.5 million in total expenses, General Government, Public Works and Police Services
are the largest program costs, making up a combined 68% of the total, followed by Fire Services and Parks
and Community Services, at 15% and 12%, respectively.
FUND FINANCIAL STATEMENTS
These statements provide more detailed information about the City’s major funds. A fund is a grouping of
related accounts that is used to maintain control over resources that have been segregated for specific
activities or objectives. The City, like other state and local governments, uses fund accounting to ensure
and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be
divided into three categories: Governmental funds, Proprietary funds, and Fiduciary funds.
Governmental funds: Governmental funds are used to account for essentially the same functions reported
as governmental activities in the Government-wide financial statements. However, unlike the Government-
wide financial statements, Governmental fund financial statements focus on near-term inflows and outflows
of spendable resources, as well as on balances of spendable resources available at the end of the FY. Such
information may be useful in evaluating a government’s near-term financing requirements.
Because the focus of Governmental funds is narrower than that of the Government-wide financial
statements, it is useful to compare the information presented for Governmental funds with similar
information presented for governmental activities in the Government-wide financial statements. By doing
so, readers may better understand the long-term impact of the government’s near-term financing decisions.
Both the Governmental fund balance sheet and Governmental fund statement of revenues, expenditures,
and changes in fund balances provide a reconciliation to facilitate this comparison between Governmental
funds and governmental activities.
General
Government
$24,851, 25%
Police
$22,483, 23%Fire Services
$14,122, 14%
Public Works
$21,103, 21%
Parks & Community
Services $10,549,
11%
Community Development
$5,407, 6%
12
The City maintains 67 individual Governmental funds. Information is presented separately in the
Governmental fund balance sheet and in the Governmental fund statement of revenues, expenditures, and
changes in fund balances for the following 10 funds: General Fund; Affordable Housing Fund; Measure
BB Grants; three Capital Project Funds (General Improvement Projects; Parks Projects; Streets Projects);
and four Impact Fee Funds (Public Facilities Impact Fees, Fire Impact Fees, Traffic Impact Fees, and Dublin
Crossings Contribution). These funds either qualify as, or the City requested them to be classified as, major
funds due to their significance in the financing of new capital assets. Data from the other 57 Governmental
funds are combined into a single aggregated presentation, labeled as Non-Major Governmental Funds.
Individual fund data for each of these non-major governmental funds is provided in the form of combining
statements elsewhere in this report.
The City adopts an annual appropriated budget for each of its Governmental funds. A budgetary comparison
statement has been provided for each Governmental fund to demonstrate compliance with this budget.
Proprietary funds: The City maintains one type of Proprietary fund, the internal service fund (ISF), which
is an accounting device used to accumulate and allocate costs internally among the City’s various functions
and to build up reserves for future replacement of capital assets. The City uses five ISFs to account for its
fleet of vehicles, equipment, improvements to City buildings, computer systems and certain retiree costs.
Because these services solely benefit the governmental function, they have been included within
governmental activities in the Government-wide financial statements.
Proprietary fund financial statements provide the same type of information as the Government-wide
financial statements, only in more detail. All five ISF’s are combined into a single, aggregated presentation
in the Proprietary fund financial statements. Individual fund data for the ISF’s is provided in the form of
combining statements elsewhere in this report.
Fiduciary funds: The Fiduciary fund section consists of the City’s five Agency Funds. The Community
Facilities District (CFD) No. 2015-1 “Dublin Crossing” Improvement Area No. 1 is an improvement district
with outstanding bonds. The City’s role is that of a trustee, or fiduciary, in collecting assessments and
remitting bond payments. The City has no legal, contingent or moral obligation for the repayment of this
debt and merely ensures that the assets received are used for their intended purposes. The City also provides
a similar role for four Geologic Hazard Abatement Districts. California Public Resources Code section
25670 establishes that these Districts are a political subdivision of the State and not an agency or
instrumentality of a local agency. The City contractually provides support to collect funds in a fiduciary
capacity and may also arrange for activities funded by the Districts.
These fiduciary activities are excluded from the City’s fund financial statements because these assets cannot
be used to finance City operations. The activity for these funds, however, is provided for in a separate
combining statement contained elsewhere in this report.
13
FINANCIAL ANALYSIS OF THE GOVERNMENTAL FUNDS
At June 30, 2020, the City’s governmental funds reported combined ending fund balances of $292.0 million,
an increase of $17.4 million from the prior year. Table 3 below illustrates the net change in fund balances
over the prior year for these funds. A discussion of the changes follows the table; individual and non-major
funds may be found in the Supplemental.
GENERAL FUND
The General Fund is the chief operating fund of the City. At the end of FY 2019-20, total fund balance was
$190.6 million. The total unassigned amount of $66.9 million reflects an amount calculated for the
unrealized gain on investments as well as an amount related to cash flow for ongoing operations. The
undesignated cash flow reserve was $58.4 million, representing approximately eight months of budgeted
FY 2020-21 expenditures. The remaining balances are committed or assigned in accordance with a policy
adopted by the City Council as discussed in Note 8 to the financial statements.
During FY 2019-20, General Fund revenues exceeded expenditures by $28.6 million, before transfers out.
Compared to the prior year, General Fund revenues came in $4.4 million lower, from $107.3 million in FY
2018-19 to $102.9 million in FY 2019-20. This is due mainly to lower sales taxes, development revenues,
and charges for services, as a result of the COVID-19 pandemic.
Expenditures in General Fund departments totaled $74.3 million in FY 2019-20, staying nearly $11.2
million under the final budget (not including transfers out), and coming in $1.4 million higher than actual
expenditures in the prior year. The increase was primarily due to a one-time $3.0 million land acquisition
cost associated with the Downtown Preferred Vision incurred in FY 2019-20 offset with nearly $1.6 million
of expenditures savings from lower operating activities during the COVID-19 pandemic.
AFFORDABLE HOUSING FUND
The Affordable Housing Fund is a special revenue fund which accounts for funds associated with the
affordable housing programs. The fund balance totaled $29.1 million at June 30, 2020, an increase of nearly
$0.4 million over the prior year, due to revenue received in the final year. The fund balance includes an
outstanding loan receivable of $15.4 million at June 30, 2020.
TABLE 3: GOVERNMENTAL FUND BALANCE CHANGES
June 30, 2020 and 2019
June 30, 2020 June 30, 2019 $ Change % Change
General Fund 190,649,221 171,225,773 19,423,448 11.3%
Affordable Housing Fund 29,121,150 28,731,551 389,599 1.4%
Measure BB Grant Fund (3,017,852) (3,619,580) 601,728 16.6%
Capital Improvement Funds 59,628,164 62,835,345 (3,207,181) -5.1%
Other Governmental Funds 15,643,367 15,405,858 237,509 1.5%
Total Governmental Funds 292,024,050 274,578,947 17,445,103 6.4%
14
CAPITAL IMPROVEMENTS FUNDS
As previously described, the City has included seven specific capital funds in the information presented as
part of the governmental funds. Three of the funds are used to capture expenditures related to active capital
projects that are underway. The three funds are: General Improvement Projects, Parks Projects and Streets
Projects. Funding for the expenditures in these funds occurs via transfers in from other funds. The following
Capital Impact Fee Funds are also reported:
Public Facilities Fee Fund: This fund includes developer fees collected to develop parks and other public
facilities. Total revenue collected in FY 2019-20 was $5.4 million, a decrease of $1.8 million from the prior
year, which was due primarily to some large one-time fee payments that were received in the prior year.
This revenue is collected when developers process Final Maps, resulting in payments of parkland in-lieu
fees. Due to variations in project construction and acquisition timelines, expenditure patterns will fluctuate.
Expenses (excluding transfers out) in FY 2019-20 totaled $1.4 million. The City expended $1.4 million to
reduce outstanding obligations. In addition, approximately $2.3 million was transferred to the General
Improvement and Parks Capital Project Funds for parks and facilities improvements. This resulted in a net
increase in fund balance of $1.6 million. The balance is designated as restricted due to the fact that there
are legal restrictions on its use, and it is not available for general purposes.
Fire Impact Fees: This fund accounts for fees collected from new development to pay for the capital cost
associated with the provision of Fire Services. Total revenue collected in FY 2019-20 was approximately
$70,000, almost half of which was collected in the prior year, due to developers’ application of existing fire
impact fee credits. In addition, collections will fluctuate with the normal variations in development activity.
The balance is designated as restricted due to the fact that there are legal restrictions on its use, and it is not
available for general purposes.
Traffic Impact Fee (TIF) Funds: These funds account for fees collected to construct major traffic
improvements necessary to facilitate development. Fees are levied and collected on development in
proportion to its impact on the transportation needs. Revenue collected in FY 2019-20 totaled $2.3 million
(including interest earned), approximately $1.3 million less than was collected in the prior year. The balance
is designated as restricted due to the fact that there are legal restrictions on its use, and it is not available
for general purposes.
Dublin Crossing Fund: This fund accounts for fees collected to construct major traffic improvements
necessary to facilitate development of the Dublin Crossing project. Fees are levied and collected on
development in proportion to its impact on the transportation needs. Revenue collected in FY 2019-20
totaled $0.2 million (including interest earned), approximately $6.5 million lower than was collected in the
prior year. The decrease was due to no developer fee collected in FY 2019-20 based on the development
agreement between developers and the City on fee credits. The balance is designated as restricted due to
the fact that there are legal restrictions on its use, and it is not available for general purposes.
15
NON-MAJOR FUNDS
The City’s non-major funds, which are all Special Revenue Funds, are presented in the basic financial
statements in the aggregate. Total fund balance decreased $0.2 million in these funds. Based on the
designated use of the funds they can be arranged by function as shown in Table 4 below:
The full fund balances of these Special Revenue Funds are legally restricted to use under the programs
indicated in the table above and are not available for general purposes. The Parks, Culture, Arts category
shows a decrease in fund balance largely due to lower developer fee contributions earned in the Public Art
fund. More information about these aggregated non-major funds can be found in the combining statements
following the required supplementary information.
June 30, 2020 and 2019
June 30, 2020 June 30, 2019 $ Change % Change
Function
Public Safety 789,611 738,208 51,404 7.0%
Transportation 5,161,935 5,021,614 140,321 2.8%
Environmental 1,692,812 1,500,863 191,950 12.8%
Parks, Culture, Arts 4,085,126 4,838,128 (753,001) -15.6%
Health & Welfare 444,181 434,866 9,315 2.1%
Maintenance Districts 3,469,702 2,872,179 597,523 20.8%
TOTAL FUND BALANCE 15,643,367 15,405,858 237,510 1.5%
TABLE 4: ANALYSIS OF FUND BALANCES -
NON-MAJOR GOVERNMENTAL FUNDS, ARRANGED BY FUNCTION
16
GENERAL FUND BUDGETARY HIGHLIGHTS
A summary of the budgetary comparison schedule for the General Fund is shown in Table 5 below. The
complete schedule, as required, is included in the supplementary information following the notes to the
financial statements.
Over the course of the year, revisions were made to the City budget with adjustments that generally fall
into one of the following three categories:
Adjustments to carry over operating budgets from the prior year.
Adjustments to carry over capital expenditure budgets, typically in the form of transfers out to
capital improvement funds, from the prior year.
Adjustments to revenue and expenditure budgets based on current economic conditions, new
revenue sources, and/or operational spending needs after the original budget was adopted.
TABLE 5: SUMMARY OF GENERAL FUND ORIGINAL AND FINAL BUDGET AND ACTUAL
Period Ending June 30, 2020
Actual Variance from
Original Final Amount Final Budget
REVENUE
Taxes 74,901,532 75,561,532 77,399,113 1,837,581
Intergovernmental 234,919 234,919 306,425 71,506
Licenses and Permits 5,045,815 4,545,815 3,904,684 (641,131)
Charges for Services 10,069,931 10,069,931 8,692,809 (1,377,122)
Use of Money & Property 3,104,127 2,964,127 11,060,098 8,095,971
Fines and Forfeitures 111,432 111,432 85,128 (26,304)
Other Revenue 1,014,706 1,687,260 1,424,276 (262,984)
Total Revenue 94,482,462 95,175,016 102,872,533 7,697,518
EXPENDITURE
General Government 12,962,051 18,697,502 14,447,789 4,249,713
Police 22,880,699 22,999,593 22,058,087 941,506
Fire 14,534,573 14,539,964 14,069,273 470,692
Public Works 13,616,377 14,100,562 11,915,994 2,184,568
Park and Community Services 8,892,352 9,042,858 7,135,822 1,907,036
Community development 6,044,749 6,114,178 4,624,920 1,489,258
Total Expenditure 78,930,801 85,494,657 74,251,885 11,242,773
OTHER FINANCING SOURCES (USES)
Transfer In 1,075 76,075 37,098 (11,023)
Transfer Out (5,553,000) (20,347,373) (9,234,298) 11,113,075
Total Other Financing Sources (Uses) (5,551,925) (20,271,298) (9,197,200) 11,102,052
NET CHANGE IN FUND BALANCE 9,999,736 (10,590,938) 19,423,448 30,042,343
Budget Amounts
17
In the General Fund total revenues exceeded the final budget by $7.7 million as of June 30, 2020, due
mainly to the following factors:
Taxes: $1.8 million higher than budget. Property tax came in $1.5 million higher than budget, as
the result of an increase to overall assessed property valuations. Franchise taxes also came in $0.4
million higher consistent with growth in the previous year.
• Licenses and Permits: $0.6 million lower than budget. Building Permits came in $0.6 million
lower due to the slowdown of development activities prior to the outbreak of COVID-19, which
was worsened by the pandemic.
• Charges for Services: $1.4 lower than budget. Parks and Community Services came in lower
than budget due to a significant decrease in Parks and Recreation programs, as many recreation
programs were cancelled due to COVID-19.
• Use of Money & Property: $8.1 million higher than budget. Interest revenue came in $1.6
million higher than budget, reflecting the performance of the City’s investments and a healthy
balance of the investment types. The City also recognized unrealized gains on current year
investments, for a net change of $6.4 million at the end of FY 2019-20.
General Fund expenditures came in $11.2 million lower than the final budget, reflecting overall savings
across departments. The following is a discussion of the changes.
• General Government: $4.2 million lower than budget. A few General Fund Reserve-funded
capital projects had remaining budgets at the end of the fiscal year and are carried over to FY 2020-
21. There was also an extra unfunded liability contribution to CalPERS that has not been deposited
yet but is set aside in the General Fund designated reserve for pension. Nearly all City contract
costs came in lower than the budget due to COVID-19 shutdowns.
• Public Works: $2.2 million lower than budget. Some of the budget savings resulted from lower
contract services related to the City’s offsite and onsite engineering services, lower salaries expense
due to City staff vacancies, and the carry-over of workspace improvement projects to FY 2020-21.
• Parks and Community Services: $1.9 million lower than budget. Budget savings resulted from
significantly lower seasonal staff expenses than budgeted, lower recreational class instructor costs,
and lower operating supplies costs due to the closure of City facilities and activities during the
shelter-in-place order.
• Community Development: $1.5 million lower than budget. The primary driver of fiscal year
budget savings in this department was the remaining budget for specific contracted services related
to development. These fluctuate with the City’s development activities and with the timelines for
projects and are routinely carried over to the next budget year until the projects are closed. During
the shelter-in-place order, limited development activities caused building inspector and contract
services expenses to be significantly lower than the budget.
18
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets
The City’s investment in capital assets for its governmental activities, as of June 30, 2020 amounts to $539.8
million (net of accumulated depreciation). These capital assets include land and streets right-of-way,
buildings, park and roadway improvements, vehicles and other equipment, and Construction in Progress,
as summarized in Table 6 below. During FY 2019-20, the City’s investment in capital assets increased by
approximately $8.6 million (1.6%), due primarily to additions to Construction in Progress net of the
accumulated depreciation.
The City continued its active Capital Improvement Program with significant progress made on a variety of
community assets. A comprehensive list of all CIP expenditures during FY 2019-20 is presented in Table
7 below (this includes project costs that may not have any impact on changes to capital assets, such as
repairs or planning costs). For more detailed information of capital assets balances, see Note 6 to the
financial statements.
TABLE 6: SUMMARY OF INVESTMENT IN CAPITAL ASSETS
June 30, 2020 and 2019
June 30, 2020 June 30, 2019 $ Change % Change
Land 182,170,145 182,170,145 - 0.0%
Streets Right of Way 35,908,389 35,908,389 - 0.0%
Construction in Progress 80,622,398 80,094,568 527,830 0.7%
Infrastructure 416,141,645 397,499,192 18,642,453 4.7%
Buildings and Improvements 118,015,443 117,343,205 672,238 0.6%
Machinery and Equipment 22,102,587 20,295,629 1,806,958 8.9%
Subtotal 854,960,607 833,311,128 21,649,479 2.6%
Less: Accumulated Depreciation (315,150,644) (302,060,122) (13,090,521) -4.3%
Total Net of Depreciation 539,809,963 531,251,006 8,558,958 1.6%
Governmental Activities
19
TABLE 7: SUMMARY OF CAPITAL IMPROVEMENT PROJECT ACTIVITY
As of June 30, 2020
ACTUAL
FY 2019/20
GENERAL IMPROVEMENTS 9,828,253
Police Services Building 9,381,799 In Progress
Civic Center HVAC and Roof Replacement 104,694 In Progress
Cultural Arts Center 248,306 In Progress
EV Charging Stations 6,316 In Progress
Financial System Replacement 37,604 In Progress
IT Infrastructure Improvement 36,131 In Progress
Maintenance Yard Facility Improve 13,403 In Progress
PARKS 6,180,120
Don Biddle Community Park 147,630 In Progress
Emerald Glen Park Recreation & Aquatic Complex 1,460,174 In Progress
Fallon Sports Park Phase 2 130,465 Complete
Fallon Sports Park Phase 3 314,948 In Progress
Imagine Playground at Dublin Sports Grounds 3,219,009 In Progress
Mape Memorial Park Playground Replacement 289,184 Complete
Public Art-Don Biddle Community Park 200,000 In Progress
Public Art - Butterfly Knoll Park 217 In Progress
Public Art - Dog Park Art Replacement 20,000 In Progress
Public Art - Clover Park & Sunrise Park 22,675 In Progress
Public Art - Jordan Ranch Neighborhood Park 26,195 In Progress
Dublin Heritage Park Cemetery Phase 43,973 In Progress
Public Art - Public Safety Complex - Police Services Building 173,101 Complete
Public Art - Sean Diamond Park 5,049 In Progress
Public Art - Imagine Playground at DSG 127,500 In Progress
STREETS 5,488,030
Alamo Creek Trail Repair 382,924 Complete
AVB - Wildwood Rd Intersection Imprvmnts 691,502 In Progress
Annual Street Resurfacing 1,653,881 In Progress
Citywide Bicycle and Pedestrian Improvements 555,292 In Progress
Citywide Signal Communications Upgrade 255,663 In Progress
Dougherty Road Improvements - Sierra Lane to North City Limit 92,090 In Progress
Dublin Boulevard Extension - Fallon Road to North Canyon Parkway 150,099 In Progress
Dublin Boulevard Improvements - Sierra Court to Dublin Court 1,093,535 In Progress
Dublin Ranch Street Light Improvements 2,126 In Progress
San Ramon Road Trail Improvements 2,075 In Progress
Intelligent Trans Sys Upgrade 23,365 In Progress
Iron Horse Trail Bridge at Dublin Blvd 448,757 In Progress
San Ramon Road Arterial Management 368 In Progress
Tassajara Rd Impro - N Dublin to Quarry 42,167 In Progress
Tassajara Road Realignment and Design 94,186 In Progress
TOTAL 21,496,402
STATUSPROJECT NAME
20
DEBT
In FY 2013-14, the City entered into a development agreement with Dublin Crossing Venture, LLC for the
acquisition and development of a parcel of land. The City exercised its option to enter into an interest-free
loan of $5.4 million with the developer to finance the land acquisition. The loan occurred in FY 2016-17
and shall be fully repaid in July 2021.
ECONOMIC FACTORS AND NEXT YEAR’S BUDGET
The COVID-19 pandemic and related shutdowns have had a significant impact on the national and local
economies. The City of Dublin faced operational impacts beginning in FY 2019-20, due to the shelter-in-
place order issued by Alameda County and the closing of City facilities and suspension of certain programs.
In the short term, Staff is planning for the potential of property tax growth to slow, however the most
significant impact of the COVID shutdowns is a steep decrease in sales tax and other revenues, such as
hotel tax, development revenue, and recreation revenue. Even with these impacts, the City’s fiscal position
remains relatively strong.
While FY 2019-20 finished with a General Fund surplus, it is long-term fiscal sustainability that remains
at the forefront of budget discussions. If the pandemic grows more severe, further adjustments may be
needed to the City’s rolling 10-Year Forecast. It is projected that the General Fund surplus will diminish in
future years, finishing just balanced by FY 2025-26. Accordingly, in the next budget cycle the City will
focus not only on continuing to provide a high level of community service and maintain top-notch facilities,
but also on consideration of long-term budget balancing solutions and shoring up contingency reserves.
Copies of the adopted Budget and Financial Plan are available online at www.dublin.ca.gov.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of the financial position of the City for all
those with an interest in the government’s finances. Questions concerning any of the information provided
in this report or requests for additional financial information should be addressed to the following address:
City of Dublin, Finance Department, 100 Civic Plaza, Dublin, CA 94568. A copy of this financial report is
also located at the City’s website – www.dublin.ca.gov.
BASIC
FINANCIAL STATEMENTS
21
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22
GOVERNMENT-WIDE
FINANCIAL STATEMENTS
23
City of Dublin
Statement of Net Position
Primary Government
Governmental
Activities
ASSETS
Current assets:
Cash and investments (Note 3)307,056,634$
Accounts receivable 12,027,372
Accrued interest receivable 1,198,623
Prepaids 469,528
Total current assets 320,752,157
Noncurrent assets:
Notes receivable (Note 5)15,919,535
Net OPEB asset - City of Dublin (Note 11) 4,191,028
Capital assets (non-depreciable) (Note 6):
Land 182,170,145
Streets right of way 35,908,389
Construction in progress 80,622,398
Capital assets (depreciable):
Infrastructures 416,141,645
Building and improvements 118,015,443
Vehicles and equipment 22,102,587
less accumulated depreciation (315,150,644)
Total capital assets 539,809,963
Total noncurrent assets 559,920,526
Total assets 880,672,683
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources related to pension (Note 10) 3,848,592
Deferred outflows of resources related to OPEB - City of Dublin (Note 11) 1,116,396
Total deferred outflows of resources 4,964,988
June 30, 2020
See accompanying Notes to Basic Financial Statements 24
Primary Government
Governmental
Activities
LIABILITIES
Current liabilities:
Accounts payable 14,157,734
Accrued wages and other payroll liabilities 339,331
Deposits payable 4,019,284
Contract retention payable 481,120
Other payables 137,500
Unearned revenue 1,201,599
Compensated absences - due within one year 731,311
Long-term debt - due within one year (Note 7) 1,368,186
Total current liabilities 22,436,065
Noncurrent liabilities:
Claims payable 42,372
Compensated absences - due in more than one year 313,419
Net pension liability (Note 10)15,505,908
Total noncurrent liabilities 15,861,699
Total liabilities 38,297,764
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to pension (Note 10) 1,920,015
Deferred inflows of resources related to OPEB - City of Dublin (Note 11) 2,280,073
Total deferred inflows of resources 4,200,088
NET POSITION
Net investment in capital assets 539,809,963
Restricted for:
Public safety 789,607
Impact fee projects 64,891,293
Highways and streets 12,470,335
Health and welfare 30,203,975
Culture and leisure 1,591,830
Total restricted 109,947,040
Unrestricted 193,382,816
843,139,819$ Total net position
See accompanying Notes to Basic Financial Statements 25
City of Dublin
Statement of Activities
For the year ended June 30, 2020
Net (Expense)
Revenue and
Changes in Net
Position
Operating Capital
Charges for Grants and Grants and Governmental
Functions/Programs Expenses Services Contributions Contributions Total Activities
Governmental activities:
General government 24,851,393$ 7,507,286$ 3,111,013$ 9,131,930$ 19,750,229$ (5,101,164)$
Police 22,483,378 244,363 37,966 - 282,329 (22,201,049)
Fire 14,122,166 1,603,243 - - 1,603,243 (12,518,923)
Public works 21,103,350 2,471,032 1,465,928 60,373 3,997,333 (17,106,017)
Park and community services 10,548,537 3,237,611 325,679 - 3,563,290 (6,985,247)
Community development 5,406,572 4,402,789 - 388 4,403,177 (1,003,395)
Total governmental activities 98,515,396$ 19,466,324$ 4,940,586$ 9,192,691$ 33,599,601$ (64,915,795)
General Revenues:
Taxes:
Property taxes 49,086,335
Special assessment taxes 1,523,257
Sales tax 22,506,975
Other taxes 7,280,323
Total taxes 80,396,890
Intergovernmental, unrestricted 306,425
Miscellaneous 1,969,966
Unrestricted investment earnings 10,485,543
Total general revenues 93,158,824
Change in net position 28,243,029
Net position - beginning of year, as restated 814,896,790
Net position - end of year 843,139,819$
Program Revenues
See accompanying Notes to Basic Financial Statements 26
FUND
FINANCIAL STATEMENTS
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Fund Financial Statements
27
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28
The funds described below were determined to be Major Funds by the City. Individual non-major funds may be found in
the supplemental.
The General Fund -is the governments primary operating fund. It accounts for all financial resources of the City, except
those required to be accounted for in another fund.
The Affordable Housing Special Revenue Fund -is used to account for in-lieu fees received from developers of properties,
which can only be used for the design, development, and construction of citywide affordable housing projects and/or
support of affordable housing programs.
Measure BB Grants Fund -established to account for Alameda County Transportation Commission (ACTC) discretionary
funding (versus direct funding) from 2014 voter-approved increase in sales tax used for improvements on bike and
pedestrian projects.
The General Improvements Projects Capital Projects Fund -is used to manage the programming of funds and activities
associated with major Capital Improvements Projects. The fund accumulates resources for capital expenditures and utilizes
those resources to support projects that are general in nature and are not Streets, Parks, or Community Improvements
Projects.
The Parks Projects Capital Projects Fund -is used to manage the programming of funds and activities associated with
major Capital Improvements Projects. The fund Accumulates resources for capital expenditures and utilizes those resources
to support projects that would construct, improve or enhance the City's parks and facilities.
The Streets Projects Capital Projects Fund -is used to manage the programming of fund and activities associated with
major Capital Improvements Projects. The fund accumulates resources for capital expenditures and utilizes those resources
to support projects that would construct, improve, or enhance the City's trails, highways, streets, roads, bridges, as well as
street lighting and drain systems.
The Public Facilities Impact Fees Capital Projects Fund - is used to account for fees received from developers of properties,
which can only be used for the design, development and construction of new public facilities within the City.
The Fire Impact Fees Capital Projects Fund - is used to account for impact fees received from developers of properties,
which can only be used for the design, development and construction of fire capital expansion projects within the City.
The Traffic Impact Fees Capital Projects Fund - is used to account for impact fees received from developers of properties,
which can only be used for the design, development and construction of street and highway projects which serve as part of
the City's transportation network.
The Dublin Crossing Contribution Capital Projects Fund - accounts for community benefit payments specific to the Dublin
Crossing Project, separate from any developer impact fees generated by the project.
GOVERNMENTAL FUND FINANCIAL STATEMENTS
29
City of Dublin
Balance Sheet
Governmental Funds
June 30, 2020
General
General Affordable Measure BB Improvement Parks
Fund Housing Grants Projects Projects
ASSETS
Cash and investments 188,551,452$ 13,734,350$ -$ 82,924$ 686,246$
Accounts receivable 6,432,948 - 3,603,413 - -
Accrued interest receivable 1,198,623 - - - -
Due from other funds 11,887,385 - - - -
Notes receivable - 15,400,074 - - -
Prepaids 13,061 - - - -
Total assets 208,083,469 29,134,424 3,603,413 82,924 686,246
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES Liabilities:
Accounts payable 12,193,455 6,328 - 82,924 539,557
Accrued wages and other payroll liabilities 332,385 6,946 - - -
Deposits payable 3,611,407 - - - -
Contract retention payable - - - - 146,689
Other payables 137,500 - - - -
Unearned revenue 1,159,501 - - - -
Due to other funds - - 3,570,265 - -
Total liabilities 17,434,248 13,274 3,570,265 82,924 686,246
Deferred inflows of resources:
Unavailable revenue - accounts receivable - - 3,051,000 - -
Total deferred inflows of resources - - 3,051,000 - -
Fund Balances:
Nonspendable 13,061 - - - -
Restricted 1,938,000 29,121,150 - - -
Committed 57,828,475 - - - -
Assigned 64,004,658 - - - -
Unassigned 66,865,027 - (3,017,852) - -
Total fund balances 190,649,221 29,121,150 (3,017,852) - -
Total liabilities, deferred inflows of
resources, and fund balances 208,083,469$ 29,134,424$ 3,603,413$ 82,924$ 686,246$
Special Revenue Funds
See accompanying Notes to Basic Financial Statements 30
Public Dublin Other Total
Streets Facilities Fire Impact Traffic Impact Crossing Governmental Governmental
Projects Impact Fees Fees Fees Contribution Funds Funds
538,011$ 31,786,814$ 149,733$ 27,687,169$ 7,276,734$ 15,497,620$ 285,991,053$
19,126 - - 181,110 - 1,929,811 12,166,408
- - - - - - 1,198,623
- - - - - - 11,887,385
- - - - - 519,461 15,919,535
- - - - - 25,000 38,061
557,137 31,786,814 149,733 27,868,279 7,276,734 17,971,892 327,201,065
204,401 - - 761,774 - 285,656 14,074,095
- - - - - - 339,331
- - - - 6,427 401,450 4,019,284
333,610 - - - - 821 481,120
- - - - - - 137,500
19,126 - - - - 22,972 1,201,599
- 6,615,060 - 70,135 - 1,617,626 11,873,086
557,137 6,615,060 - 831,909 6,427 2,328,525 32,126,015
- - - - - - 3,051,000
- - - - - - 3,051,000
- - - - - 25,000 38,061
- 25,171,754 149,733 27,036,370 7,270,307 16,123,221 106,810,535
- - - - - - 57,828,475
- - - - - - 64,004,658
- - - - - (504,854) 63,342,321
- 25,171,754 149,733 27,036,370 7,270,307 15,643,367 292,024,050
557,137$ 31,786,814$ 149,733$ 27,868,279$ 7,276,734$ 17,971,892$ 327,201,065$
Capital Projects Funds
See accompanying Notes to Basic Financial Statements 31
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32
Reconciliation of the Governmental Funds Balance Sheet
Total Fund Balances - Total Governmental Funds 292,024,050$
Capital assets used in governmental activities were not current financial resources.
Therefore, they were not reported in the Governmental Funds Balance Sheet. Except
for the internal service funds reported below, the capital assets were adjusted as
follows:
Government-
Wide Statement
of Net Position
Internal Service
Funds Total
Non-depreciable 298,700,932$ (14,877,039)$ 283,823,893
Depreciable, net 241,109,031 (26,399,251) 214,709,780
Total capital assets 539,809,963$ (41,276,290)$ 498,533,673
Internal service funds were used by management to charge the costs of certain
activities, such as insurance, to individual funds. The assets and liabilities of the
Internal service funds were included in governmental activities in the Government-
Wide Statement of Net Position.62,536,364
Unavailable revenues recorded in the fund financial statements resulting from
activities in which revenues were earned but were not available are reclassified as
revenues in the Government-Wide Financial Statements.3,051,000
In the Government-Wide Financial Statements, deferred employer contributions for
pension and OPEB, certain differences between actuarial estimates and actual results,
and other adjustments resulting from changes in assumptions and benefits are
deferred in the current year.
Deferred outflows of resources related to pension 3,848,592
Deferred outflows of resources related to OPEB - City of Dublin 1,116,396
Deferred inflows of resources related to pension (1,920,015)
Deferred inflows of resources related to OPEB - City of Dublin (2,280,073)
Long-term liabilities were not due and payable in the current period. Therefore, they
were not reported in the Governmental Funds Balance Sheet.
Government-
Wide Statement
of Net Position
Internal Service
Funds Total
Compensated absences - due within one year (731,311) - (731,311)
Long term debt - due within one year (1,368,186) - (1,368,186)
Claims payable (42,372) - (42,372)
Compensated absences - due in more than one year (313,419) - (313,419)
Net OPEB asset - City of Dublin 4,191,028 - 4,191,028
Net pension liability (15,505,908) - (15,505,908)
Total long-term liabilities (13,770,168)$ -$ (13,770,168)
Net Position of Governmental Activities 843,139,819$
Amounts reported for governmental activities in the Statement of Net Position were
different from those reported in the Governmental Funds above because of the
following:
City of Dublin
to the Government-Wide Statement of Net Position
June 30, 2020
See accompanying Notes to Basic Financial Statements 33
City of Dublin
Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
For the year ended June 30, 2020
General
General Affordable Measure BB Improvement Parks
Fund Housing Grants Projects Projects
REVENUES:
Property taxes 49,086,335$ -$ -$ -$ -$
Sales tax 21,032,455 - - - -
Other taxes 7,280,323 - - - -
Intergovernmental 306,425 - 1,089,411 - -
Licenses and permits 3,904,684 - - - -
Charges for service 8,692,809 88,758 - - -
Interest 10,085,706 276,226 - - -
Use of property 974,392 407,337 - - -
Fines and forfeitures 85,128 - - - -
Developer fees 36,428 - - - -
Other revenue 1,387,848 11,808 - - -
Special assessments - - - - -
Total revenues 102,872,533 784,129 1,089,411 - -
EXPENDITURES:
Current:
General Government 14,447,789 17,994 - - -
Police 22,058,087 - - - -
Fire 14,069,273 - - - -
Public works 11,915,994 - - - -
Park and community services 7,135,822 - - - -
Community development 4,624,920 364,728 - - -
Capital outlay:
General improvements - - - 9,828,253 -
Parks - - - - 6,180,120
Streets - - - - -
Debt service:
Principal - - - - -
Total expenditures 74,251,885 382,722 - 9,828,253 6,180,120
REVENUES OVER (UNDER) EXPENDITURES 28,620,648 401,407 1,089,411 (9,828,253) (6,180,120)
OTHER FINANCING SOURCES (USES):
Transfers in 37,098 - - 9,828,253 6,180,120
Transfers (out) (9,234,298) (11,808) (487,683) - -
Total other financing sources (uses)(9,197,200) (11,808) (487,683) 9,828,253 6,180,120
Net change in fund balances 19,423,448 389,599 601,728 - -
FUND BALANCES (DEFICITS):
Beginning of year 171,225,773 28,731,551 (3,619,580) - -
End of year 190,649,221$ 29,121,150$ (3,017,852)$ -$ -$
Special Revenue Funds
See accompanying Notes to Basic Financial Statements 34
Public Dublin Other Total
Streets Facilities Fire Impact Traffic Impact Crossing Governmental Governmental
Projects Impact Fees Fees Fees Contribution Funds Funds
-$ -$ -$ -$ -$ -$ 49,086,335$
- - - - - - 21,032,455
- - - - - - 7,280,323
- - - - - 6,015,567 7,411,403
- - - - - - 3,904,684
- - - - - 5,652,413 14,433,980
- 623,344 3,090 526,154 172,432 319,879 12,006,831
- - - - - - 1,381,729
- - - - - 111,712 196,840
- 4,730,443 66,606 1,754,821 - 10,939 6,599,237
- - - - - 187,428 1,587,084
- - - - - 1,523,256 1,523,256
- 5,353,787 69,696 2,280,975 172,432 13,821,194 126,444,157
- - 100,000 2,846,599 - 5,739,490 23,151,872
- - - - - 119,087 22,177,174
- - - - - 175,640 14,244,913
- - - 26,083 - 1,879,056 13,821,133
- 48,141 - - - 44,312 7,228,275
- - - - - - 4,989,648
- - - - - - 9,828,253
- - - - - - 6,180,120
5,488,030 - - - - - 5,488,030
- 1,368,186 - - - - 1,368,186
5,488,030 1,416,327 100,000 2,872,682 - 7,957,585 108,477,604
(5,488,030) 3,937,460 (30,304) (591,707) 172,432 5,863,609 17,966,553
5,606,039 - - - - - 21,651,510
- (2,301,523) - (1,010,824) (3,500,724) (5,626,100) (22,172,960)
5,606,039 (2,301,523) - (1,010,824) (3,500,724) (5,626,100) (521,450)
118,009 1,635,937 (30,304) (1,602,531) (3,328,292) 237,509 17,445,103
(118,009) 23,535,817 180,037 28,638,901 10,598,599 15,405,858 274,578,947
-$ 25,171,754$ 149,733$ 27,036,370$ 7,270,307$ 15,643,367$ 292,024,050$
Capital Projects Funds
See accompanying Notes to Basic Financial Statements 35
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36
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes
Net Change in Fund Balances - Total Governmental Funds 17,445,103$
Governmental funds reported capital outlay as expenditures. However, in the Government-Wide Statement
of Activities, the cost of those assets was allocated over their estimated lives as depreciation expense. This
was the amount of capital assets recorded in the current period, net of Internal Service Funds.20,148,909
Depreciation expense on capital assets was reported in the Government-Wide Statement of Activities, but
did not require the use of current financial resources. Therefore, depreciation expense was not reported as
expenditures in the governmental funds, net of internal service funds of $2,599,243.(10,751,888)
Accrued compensated leave payments were reported as expenditures in the governmental funds, however
expense is recognized in the Government-Wide Statement of Activities based on earned leave accruals.(42,985)
Debt proceeds provide current financial resources to governmental funds, but issuing debt increased long-
term liabilities in the Government-Wide Statement of Net Position. Repayment of debt was an expenditure
in governmental funds, but the repayment reduced long-term liabilities in the Government-Wide Statement
of Net Position.
Long-term debt repayments 1,368,186
Claim payments are recorded as expenditures in the governmental funds, however claim expense is
recognized as claims are incurred on the Government-Wide Statement of Activities (4,255)
Current year employer pension and OPEB contributions are recorded as expenditures in the governmental
funds, however, these amounts are reported as a deferred outflow of resources in the Government-Wide
Statement of Net Position.2,638,726
Pension expense is reported in the Government-Wide Statement of Activities does not require the use of
current financial resources, and therefore is not reported as expenditures in governmental funds.(2,949,603)
OPEB expense is reported in the Government-Wide Statement of Activities does not require the use of
current financial resources, and therefore is not reported as expenditures in governmental funds.(235,816)
Unavailable revenues recorded in the fund financial statements resulting from activities in which revenues
were earned but were not available are reclassified as revenues in the Government-Wide Financial
Statements.(85,505)
Internal service funds were used by management to charge the costs of certain activities, such as insurance
and fleet management, to individual funds. The net revenue of the internal service funds was reported with
governmental activities.712,157
Change in Net Position of Governmental Activities 28,243,029$
Amounts reported for governmental activities in the Statement of Activities were different because:
City of Dublin
in Fund Balances to the Government-Wide Statement of Activities
For the year ended June 30, 2020
See accompanying Notes to Basic Financial Statements 37
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
General Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Property taxes 46,874,754$ 47,534,754$ 49,086,335$ 1,551,581$
Sales tax 21,227,378 21,227,378 21,032,455 (194,923)
Other taxes 6,799,400 6,799,400 7,280,323 480,923
Intergovernmental 234,919 234,919 306,425 71,506
Licenses and permits 5,045,815 4,545,815 3,904,684 (641,131)
Charges for services 10,069,931 10,069,931 8,692,809 (1,377,122)
Interest 2,000,000 2,000,000 10,085,706 8,085,706
Use of property 1,104,127 964,127 974,392 10,265
Fines and forfeitures 111,432 111,432 85,128 (26,304)
Developer fees - - 36,428 36,428
Other revenues 1,014,706 1,687,260 1,387,848 (299,412)
Total revenues 94,482,462 95,175,016 102,872,533 7,697,517
EXPENDITURES:
Current:
General government 12,962,051 18,697,502 14,447,789 4,249,713
Police 22,880,699 22,999,593 22,058,087 941,506
Fire 14,534,573 14,539,964 14,069,273 470,691
Public works 13,616,377 14,100,562 11,915,994 2,184,568
Parks and community services 8,892,352 9,042,858 7,135,822 1,907,036
Community development 6,044,749 6,114,178 4,624,920 1,489,258
Total expenditures 78,930,801 85,494,657 74,251,885 11,242,772
REVENUES OVER (UNDER) EXPENDITURES 15,551,661 9,680,359 28,620,648 18,940,289
OTHER FINANCING SOURCES (USES):
Transfers in 1,075 76,075 37,098 (38,977)
Transfers (out) (5,553,000) (20,347,373) (9,234,298) 11,113,075
Total other financing sources (uses)(5,551,925) (20,271,298) (9,197,200) 11,074,098
Net change in fund balance 9,999,736$ (10,590,939)$ 19,423,448 30,014,387$
FUND BALANCE:
Beginning of year 171,225,773
End of year 190,649,221$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
See accompanying Notes to Basic Financial Statements 38
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Affordable Housing
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Charges for services 40,620$ 40,620$ 88,758$ 48,138$
Interest 143,950 143,950 276,226 132,276
Use of property - - 407,337 407,337
Other revenues - - 11,808 11,808
Total revenues 184,570 184,570 784,129 599,559
EXPENDITURES:
Current:
General government 68,000 68,000 17,994 50,006
Community development 533,819 612,525 364,728 247,797
Total expenditures 601,819 680,525 382,722 297,803
REVENUES OVER (UNDER) EXPENDITURES (417,249) (495,955) 401,407 897,362
OTHER FINANCING SOURCES (USES):
Transfers (out) - - (11,808) (11,808)
Total other financing sources (uses)- - (11,808) (11,808)
Net change in fund balance (417,249)$ (495,955)$ 389,599 885,554$
FUND BALANCE:
Beginning of year 28,731,551
End of year 29,121,150$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
See accompanying Notes to Basic Financial Statements 39
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure BB Grants
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 200,000$ 200,000$ 1,089,411$ 889,411$
Total revenues 200,000 200,000 1,089,411 889,411
OTHER FINANCING SOURCES (USES):
Transfers (out) - (1,397,540) (487,683) 909,857
Total other financing sources (uses)- (1,397,540) (487,683) 909,857
Net change in fund balance 200,000$ (1,197,540)$ 601,728 1,799,268$
FUND BALANCE:
Beginning of year (3,619,580)
End of year (3,017,852)$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
See accompanying Notes to Basic Financial Statements 40
Proprietary fund account for City operation financed and operated in a manner similar to a private business
enterprise, The intent of the City is that the cost of providing good and services be financed primarily through
user charges.
PROPRIETARY FUND FINANCIAL STATEMENTS
41
City of Dublin
Statement of Net Position
Proprietary Funds
June 30, 2020
Governmental
Activities-
Internal Service
Funds
ASSETS
Current assets:
Cash and investments 21,065,581$
Prepaids 431,467
Total current assets 21,358,012
Capital Assets:
Land 10,774,792
Construction in progress 4,102,247
Infrastructure 745,014
Building and improvements 63,219,783
Vehicles and equipment 7,566,354
Less accumulated depreciation (45,131,900)
Net capital assets 41,276,290
Total assets 62,634,302
LIABILITIES
Current liabilities:
Accounts payable and accruals 83,639
Due to other funds 14,299
Total current liabilities 97,938
Total liabilities 97,938
NET POSITION
Net investment in capital assets 41,276,290
Unrestricted 21,260,074
Total net position 62,536,364$
See accompanying Notes to Basic Financial Statements 42
City of Dublin
Statement of Revenues, Expenses and Changes in Fund Net Position
Proprietary Funds
For the year ended June 30, 2020
Governmental
Activities-
Internal Service
Funds
OPERATING REVENUES:
Charges for services 4,097,561$
Other revenue 797,980
Total operating revenues 4,895,541
OPERATING EXPENSES:
Supplies and services 779,235
Retiree health premiums 1,726,129
Depreciation 2,599,243
Total operating expenses 5,104,607
OPERATING INCOME (LOSS)(209,066)
NONOPERATING REVENUES (EXPENSES):
Interest income 399,773
Total nonoperating revenues (expenses)399,773
INCOME (LOSS) BEFORE CONTRIBUTIONS AND TRANSFERS:190,707
Transfers in 1,229,066
Transfers (out)(707,616)
Total transfers 521,450
Change in net position 712,157
NET POSITION:
Beginning of year 61,824,207
End of year 62,536,364$
See accompanying Notes to Basic Financial Statements 43
City of Dublin
Statement of Cash Flows
Proprietary Funds
For the year ended June 30, 2020
Governmental
Activities-
Internal Service
Funds
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from other funds 4,236,597$
Payments to suppliers and service providers (2,942,654)
Other revenues 797,980
Net cash provided by (used in) operating activities 2,091,923
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Cash receipts from other funds 1,229,066
Cash disbursements to other funds (693,317)
Cash provided by (used in) noncapital financing activities 535,749
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:
Purchase of capital assets (1,761,179)
Cash used in capital and related financing activities (1,761,179)
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest received 399,773
Cash flows investing activities 399,773
Net Cash Flows 1,266,266
CASH AND CASH EQUIVALENTS - Beginning of year 19,799,315
CASH AND CASH EQUIVALENTS - End of year 21,065,581$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Operating income (loss)(209,066)$
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation 2,599,243
Change in assets and liabilities
Accounts receivable 139,036
Prepaids (224,882)
Accounts payable and accruals (212,408)
Net cash provided by (used in) operating activities 2,091,923$
See accompanying Notes to Basic Financial Statements 44
FIDUCIARY FUND FINANCIAL STATEMENTS
Agency funds are used to account for assets held by the City as an agent for individuals, private organization, and
other governments. The financial activities of these funds are excluded from the Entity-wide financial statements, but
are presented in separate Fiduciary Fund financial statements.
45
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46
City of Dublin
Statement of Fiduciary Net Position
Fiduciary Fund
June 30, 2020
Agency
Funds
ASSETS
Cash and investments 42,010,805$
Accounts receivable 29,713
Total assets 42,040,518$
LIABILITIES
Accrued payable 65,494$
Due to trustee 41,965,840
Due to bondholders 9,184
Total liabilities 42,040,518$
See accompanying Notes to Basic Financial Statements 47
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48
49
NOTES TO BASIC
FINANCIAL STATEMENTS
50
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City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
51
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements and accounting policies of the City conform with generally accepted accounting
principles applicable to governments. The Governmental Accounting Standards Board (GASB) is the
accepted standard-setting body for establishing governmental accounting and financial reporting
principles. Significant accounting policies are summarized below:
A. Reporting Entity
The City is a residential community with a significant regional commercial base, located in the TriValley
area of Alameda County, California at the crossroads of Interstate Freeways 580 and 680. The City was
incorporated as a municipal corporation on February 1, 1982. The total population estimate published by
the California Department of Finance for January 1, 2019 was 65,716. This figure includes prisoners housed
at the Alameda County Sheriff’s Department Santa Rita Jail and at the Federal Correctional Institute. The
City of Dublin was ranked based on total population at #136 out of 482 cities within California.
The City operates under the Council-Manager form of government, with five elected Council members
served by a full-time City Manager and staff. At June 30, 2020, the City's staff comprised 88 authorized
permanent employees who were responsible for City-provided services. The City provides many traditional
municipal services through contracts with both public and private agencies. Approximately 147.96 contract
employees provide a variety of municipal services from City facilities. As of June 30, 2020, the City had
approximately 25 temporary and seasonal personnel that were on active payroll status.
B. Basis of Presentation
The City's Basic Financial Statements are prepared in conformity with accounting principles generally
accepted in the United States of America. The Government Accounting Standards Board is the
acknowledged standard setting body for establishing accounting and financial reporting standards
followed by governmental entities in the U.S.A. These Standards require that the financial statements
described below be presented.
Government-wide Statements:
The Statement of Net Position and the Statement of Activities display information about the primary
government (the City). These statements include the financial activities of the overall City government,
except for fiduciary activities. Governmental activities generally are financed through taxes,
intergovernmental revenues, and other nonexchange transactions.
The Statement of Activities presents a comparison between direct expenses and program revenues for each
function of the City's governmental activities. Direct expenses are those that are specifically associated with a
program or function and, therefore, are clearly identifiable to a particular function. Program revenues
include (a) charges paid by the recipients of goods or services offered by the programs, (b) grants and
contributions that are restricted to meeting the operational needs of a particular program and (c) fees, grants
and contributions that are restricted to financing the acquisition or construction of capital assets. Revenues
that are not classified as program revenues, including all taxes, are presented as general revenues.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
52
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
B. Basis of Presentation, Continued
Fund Financial Statements:
The fund financial statements provide information about the City's funds, including fiduciary funds.
Separate statements for each fund category - governmental, proprietary, and fiduciary - are presented. The
emphasis of fund financial statements is on major individual governmental funds, each of which is
displayed in a separate column. All remaining governmental funds are aggregated and reported as
nonmajor funds.
Proprietary fund operating revenues, such as charges for services, result from exchange transactions
associated with the principal activity of the fund. Exchange transactions are those in which each party
receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment
earnings, result from nonexchange transactions or ancillary activities.
C. Major Funds
Major funds are defined as funds that have either assets, liabilities, revenues or expenditures/expenses equal
to ten percent of their fund-type total and five percent of the grand total. The General Fund is always a
major fund. The City may also select other funds it believes should be presented as major funds.
The City reported the following major governmental funds in the accompanying financial statements:
The General Fund - is the government’s primary operating fund. It accounts for all financial resources of
the City, except those required to be accounted for in another fund.
The Affordable Housing Special Revenue Fund - is used to account for in-lieu fees received from
developers of properties, which can only be used for the design, development, and construction of
citywide affordable housing projects and/or support of affordable housing programs.
The Measure BB Grants Special Revenue Fund – established to account for Alameda County
Transportation Commission (ACTC) discretionary funding (versus direct funding) from 2014 voter-
approved increase in sales tax used for improvements on bike and pedestrian projects.
The General Improvements Projects Capital Projects Fund - is used to manage the programming of funds
and activities associated with major Capital Improvements Projects. The Fund accumulates resources
for capital expenditures and utilizes those resources to support projects that are general in nature and
are not Streets, Parks, or Community Improvements projects.
The Parks Projects Capital Projects Fund - is used to manage the programming of funds and activities
associated with major Capital Improvements Projects. The Fund accumulates resources for capital
expenditures and utilizes those resources to support projects that would construct, improve, or enhance
the City's parks and facilities.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
53
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
C. Major Funds, Continued
The Streets Projects Capital Projects Fund - is used to manage the programming of funds and activities
associated with major Capital Improvements Projects. The Fund accumulates resources for capital
expenditures and utilizes those resources to support projects that would construct, improve, or enhance
the City's trails, highways, streets, roads, bridges, as well as street lighting, and storm drain systems.
The Public Facilities Impact Fees Capital Projects Fund - is used to account for impact fees received from
developers of properties, which can only be used for the design, development, and construction of new
public facilities within the City.
The Fire Impact Fees Capital Projects Fund - is used to account for impact fees received from developers
of properties, which can only be used for the design, development, and construction of fire capital
expansion projects within the City.
The Traffic Impact Fees Capital Projects Fund - is used to account for impact fees received from
developers of properties, which can only be used for the design, development and construction of street
and highway projects which serve as part of the City's transportation network.
The Dublin Crossing Contribution Capital Projects Fund - accounts for community benefit payments
specific to the Dublin Crossings Project, separate from any developer impact fees generated by the
project.
The City also reports the following fund types:
Internal Service Funds - Account for replacement of assets and internal charges collected for the
purpose of funding retirement plan side-fund obligations, post-retirement healthcare activities, and the
financing and funding for the replacements of vehicle, building and equipment, various information
technology projects, and the energy efficiency capital lease project. These activities are provided to City
departments on a cost reimbursement basis.
Fiduciary Funds - The City maintains one type of Fiduciary Funds - Agency Funds. The financial
activities of these funds are excluded from the Government-wide financial statement, but are presented
in separate Fiduciary Fund financial statements. Agency Funds are used to account for assets held by
the City as an agent for the following purposes:
The Dublin Boulevard Extension Assessment District is an Agency Fund, which is used to account for
amounts held for debt service on the Dublin Boulevard Extension Project. The Agency Fund is custodial in
nature (assets equal liabilities) and therefore does not involve measurement of results of operations. The
City is not responsible for payment of the bonds and acts only as an agent to collect assessments, pay
bondholders, and initiate foreclosure proceedings.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
54
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
C. Major Funds, Continued
The Associated Community Action Program (ACAP) is an Agency Fund. The City acts as the fiscal agent to
collect and account for the contributions received and to coordinate administrative services leading to the
agency ceasing its operation. ACAP is a Joint Powers Authority (JPA), whose members include the
Alameda County and eleven of the thirteen incorporated cities in the County. (The cities of Berkeley and
Oakland are not members). The JPA was formed to provide and administer social service related programs.
The Agency fund is custodial in nature (assets equal liabilities) and therefore does not involve measurement
of results of operations.
The Fallon Village, Schaefer Ranch, Fallon Village Annex/Jordan Ranch, and Fallon Crossing Geological
Hazard Abatement Districts (GHAD) are Agency Funds. Each fiscal year, the District Engineer prepares an
Engineer's Report which includes the budget for the GHADs for that year. The annual budget consists of
regular site monitoring, annual inspections, contract services for annual mitigation and repairs, and
administrative costs. The funds collected through special assessment are placed into a dedicated reserve
fund. The reserve fund is set aside to be used to mitigate and repair large, geologic hazards, such as
landsides in the respective Subdivisions.
The Dublin Crossing Community Facilities District (CFD) No. 2015-1 (Dublin Crossing) Fund, which is used
to account for bond issuances to finance capital facilities and infrastructure within the CFD secured by the
collection of Special Taxes on real property within the CFD. The Agency Fund is custodial in nature (assets
equal liabilities) and therefore does not involve measurement of results of operations. CFD bonds are not
debt obligations of the City.
D. Basis of Accounting
The government-wide and proprietary financial statements are reported using the economic resources
measurement focus and the full accrual basis of accounting. Revenues are recorded when earned and
expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take
place.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial
statements. Exceptions to this general rule are payments-in-lieu of taxes and other charges between the
government's business-type activities and various other functions of the government. Elimination of these
charges would distort the direct costs and program revenues reported for 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 revenues. Likewise, general revenues include all taxes.
Those revenues susceptible to accrual at both the City-wide and Fund level are property, sales and franchise
taxes, current service charges, and interest revenue. Fines and licenses and permits are not susceptible to
accrual because they are not measurable until received in cash.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
55
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
D. Basis of Accounting, Continued
Governmental funds are reported using the current financial resources measurement focus and the
modified accrual basis of accounting. Under this method, revenues are recognized when measurable and
available. The City considers all revenues reported in the governmental funds to be available if the revenues
are collected within sixty days after year-end. Expenditures are recorded when the related fund liability is
incurred, except for principal and interest on general long-term debt, claims and judgments, and
compensated absences, which are recognized as expenditures to the extent they have matured.
Governmental capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of
governmental long-term debt and acquisitions under capital leases are reported as other financing sources.
Non-exchange transactions, in which the City gives or receives value without directly receiving or giving
equal value in exchange, include taxes, grants, entitlements, and donations. On the accrual basis, revenue
from taxes is recognized in the fiscal year for which the taxes are levied or assessed. Revenues from grants,
entitlements, and donations are recognized in the fiscal year in which all eligibility requirements have been
satisfied.
Grant revenues are recognized in the fiscal year in which all eligibility requirements are met. Under the
terms of grant agreements, the City may fund certain programs with a combination of cost-reimbursement
grants, categorical block grants, and general revenues. Certain indirect costs are included in program
expenses reported for individual functions and activities.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the
City's internal service funds are charges to customers for sales and services. Operating expenses for 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 nonoperating revenues and
expenses.
E. Cash, Cash Equivalents, and Investments
The City pools cash resources from all funds in order to facilitate the management of cash. The balance in
the pooled cash account is available to meet current operating requirements. Cash in excess of current
requirements is invested in various interest-bearing accounts and other investments for varying terms.
In accordance with GASB Statement No. 40, Deposit and Investment Disclosures (Amendment of GASB No. 3),
certain disclosure requirements for Deposits and Investment Risks were made in the following areas:
• Interest Rate Risk
• Credit Risk
o Overall
o Custodial Credit Risk
o Concentrations of Credit Risk
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
56
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
E. Cash, Cash Equivalents, and Investments, Continued
In addition, other disclosures are specified including use of certain methods to present deposits and
investments, highly sensitive investments, credit quality at year-end, and other disclosures.
In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for
External Investment Pools, highly liquid money market investments with maturities of one year or less at
time of purchase are stated at amortized cost. All other investments are stated at fair value. The City
categorizes the fair value measurements of its investments based on the hierarchy established by generally
accepted accounting principles. The fair value hierarchy, which has three levels, is based on the valuation
inputs used to measure an asset’s fair value: Level 1 inputs are quoted prices in active markets for identical
assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable
inputs. The City does not have any investments that are measured using Level 3 inputs.
The City participates in an investment pool managed by the State of California entitled Local Agency
Investment Fund (LAIF) which has invested a portion of the pooled funds in Structured Notes and Asset-
Backed Securities. LAIF’s investments are subject to credit risk with the full faith and credit of the State of
California collateralizing these investments. In addition, these Structured Notes and Asset-Backed
Securities are subject to market risk as to the change in interest rates.
Cash equivalents are considered amounts in demand deposits and short-term investments with a maturity
date within three months of the date acquired by the City and are presented as “Cash and Investments” in
the accompanying Basic Financial Statements.
For the purpose of the statement of cash flows, the City considers all pooled cash and investments
(consisting of cash and investments and restricted cash and investments) held by the City as cash and cash
equivalents because the pool is used essentially as a demand deposit account from the standpoint of the
funds. The City also considers all non-pooled cash and investments (consisting of cash with fiscal agent
and restricted cash and investments held by fiscal agent) as cash and cash equivalents because investments
meet the criteria for cash equivalents defined above.
F. Property Tax Revenues
Alameda County assesses properties and bills, collects, and distributes property taxes to the City. The
County remits the entire amount paid and handles the collection of all delinquencies. The City receives
proportionate shares of prior year collections including interest and penalties. Secured and unsecured
property taxes are levied on January 1 of the preceding fiscal year. The property tax assessments are
formally due on November 1 and February I, and become delinquent after December 10 and April 10,
respectively. Taxes become a lien on the property effective January 1 of the preceding year.
G. Use of Restricted Resources
When both restricted and unrestricted resources are available for use, it is the City's policy to use restricted
resources first, and then unrestricted resources as needed.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
57
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
H. Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as
prepaid costs in both government-wide and fund financial statements, using the consumption method.
Prepaid costs in governmental funds are equally offset with nonspendable fund balance to indicate they do
not constitute resources available for appropriation. Prepaids in governmental funds are treated using the
consumption method, where the prepaid expenditure is recognized in the period in which the service is
provided or the item is put into use.
I. Compensated Absences
The City records a long-term compensated absences liability to recognize the financial effect of unused
general leave and other accrued compensated leave. The liability will be paid from future resources
primarily from the general fund.
Compensated absences activities were as follows for the year ended June 30, 2020:
J. Capital Assets
Capital assets, which include buildings, machinery and equipment, and infrastructure assets (roads,
bridges, curbs and gutters, streets and sidewalks, drainage systems, lighting systems, and park
improvements), are reported in the Governmental Activities columns of the Government-Wide Financial
Statements. Capital assets are defined by the City as assets with an initial, individual cost of more than
$5,000 for general capital assets and $100,000 for infrastructure capital assets. Such assets are recorded at
historical cost or estimated historical cost if actual historical cost is not available. Donated capital assets,
donated works of art and similar items, and capital assets received in a service concession arrangement are
reported at acquisition value.
Capital assets are depreciated over their estimated useful lives using the straight-line method. This means
the cost of the asset is divided by its expected useful life in years and the result is charged to expense each
year until the asset is fully depreciated. The purpose of depreciation is to spread the cost of capital assets
over the useful life of these assets. The amount charged to depreciation expense each year represents that
year's pro rata share of the cost of capital assets.
General Leave
Compensated
Leave Total
Beginning Balance 985,076$ 16,669$ 1,001,745$
Additions 979,513 16,395 995,908
Payments (935,667) (17,255) (952,923)
Ending Balance 1,028,922 15,809 1,044,730
Current Portion 720,245$ 11,066$ 731,311$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
58
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
J. Capital Assets, Continued
Depreciation of capital assets is charged as an expense against operations each year and the total amount of
depreciation taken over the years, called accumulated depreciation, and is reported on the Statement of Net
Position of the government-wide financial statements as a reduction in the book value of the capital assets.
The City has assigned the useful lives listed below to capital assets.
Infrastructure 15-75 Years
Buildings and Improvements 20-38 Years
Vehicles and Equipment 4-20 Years
Capital assets include land, buildings, and equipment used in City operations. Infrastructure includes
roads, bridges, curbs, sidewalks, drainage systems, street and traffic lights, park improvements and other
improvements used by all citizens.
Donated capital assets, donated works of art and similar items, and capital assets received in a service
concession arrangement are recorded at acquisition value. All other capital assets are valued at historical
cost or estimated historical cost if actual historical cost is not available.
K. Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date. The City categorizes its fair value
measurements within the fair value hierarchy established by generally accepted accounting principles. The
fair value hierarchy categorizes the inputs to valuation techniques used to measure fair value into three
levels based on the extent to which inputs used in measuring fair value are observable in the market.
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 inputs are inputs - other than quoted prices included within level 1 - that are observable for an
asset or liability, either directly or indirectly.
Level 3 inputs are unobservable inputs for an asset or liability.
L. Pension
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to
pensions, and pension expense, information about the fiduciary net position of the City’s California Public
Employees’ Retirement System (CalPERS) plans (Plans) and additions to/deductions from the Plans’
fiduciary net position have been determined on the same basis as they are reported by CalPERS. For this
purpose, benefit payments (including refunds of employee contributions) are recognized when due and
payable in accordance with the benefit terms. Investments are reported at fair value.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
59
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
M. Other Postemployment Benefits (OPEB)
For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of
resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s
plan (OPEB Plan) and additions to/deductions from the OPEB Plan’s fiduciary net position have been
determined on the same basis. For this purpose, benefit payments are recognized when currently due and
payable in accordance with the benefit terms. Investments are reported at fair value. Generally accepted
accounting principles require that the reported results must pertain to liability and asset information within
certain defined timeframes. For this report, the following timeframes are used:
Valuation Date June 30, 2019
Measurement Date June 30, 2019
Measurement Period July 1, 2018 to June 30, 2019
N. Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles
(GAAP) requires management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates.
O. Deferred Outflows / lnflows of Resources
In addition to assets, the statement of financial position or balance sheet report is a separate section for
deferred outflows of resources. This separate financial statement element, deferred outflows of resources,
represents a consumption of net position or fund balance that applies to a future period(s) and so will not be
recognized as an outflow of resources (expense /expenditure) until then.
In addition to liabilities, the statement of financial position or balance sheet report is a separate section for
deferred inflows of resources. This separate financial statement element, deferred inflows of resources,
represents an acquisition of net position or fund balance that applies to a future period(s) and so will not be
recognized as an inflow of resources (revenue) until that time.
P. Net Position and Fund Balance
Net Position
Net Position is the excess of all the City's assets and deferred outflow of resources over all its liabilities and
deferred inflow of resources, regardless of fund. Net Position are divided into three captions. These
captions apply only to Net Position, which is determined only for proprietary funds and at the
Government-wide level, and are described below:
Net Investment in Capital Assets, describes the portion of Net Position which is represented by the current
net book value of the City's capital assets, and reduced by outstanding debt that attributed to the
acquisition, construction, or improvement of the assets.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
60
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
P. Net Position and Fund Balance, Continued
Restricted describes the portion of Net Position which is restricted as to use by the terms and conditions of
agreements with outside parties, governmental regulations, laws, or other restrictions which the City
cannot unilaterally alter. These principally include developer fees received for use on capital projects and
debt service requirements.
Unrestricted describes the portion of Net Position which is not restricted to use.
When an expense is incurred for purposes for which both restricted and unrestricted net position are
available, the City’s policy is to apply restricted net position first.
Fund Balances
Governmental fund balances represent the net current assets of each fund. Net current assets generally
represent a fund's cash and receivables, less its liabilities.
The City's fund balances are classified based on spending constraints imposed on the use of resources. For
programs with multiple funding sources, the City prioritizes and expends funds in the following order:
Restricted, Committed, Assigned, and Unassigned. Each category in the following hierarchy is ranked
according to the degree of spending constraint:
Nonspendable represents balances set aside to indicate items do not represent available, spendable resources
even though they are a component of assets. Fund balances required to be maintained intact, such as
Permanent Funds, and assets not expected to be converted to cash, such as prepaids, notes receivable, and
long-term interfund loans are included. However, if proceeds realized from the sale or collection of
nonspendable assets are restricted, committed or assigned, then Nonspendable amounts are required to be
presented as a component of the applicable category.
Restricted fund balances have external restrictions imposed by creditors, grantors, contributors, laws,
regulations, or enabling legislation which requires the resources to be used only for a specific purpose.
Nonspendable amounts subject to restrictions are included along with spendable resources.
Committed fund balances have constraints imposed by resolution of the City Council which may be altered
only by formal action (resolution) of the City Council to establish, modify, or rescind a fund balance
commitment. The City Council commits fund balance through the adoption of a resolution prior to the end
of the fiscal year. Once adopted, the limitation imposed by the resolution remains in place until similar
action is taken to remove or revise the limitation. Only the highest level action (a resolution) can be
considered a commitment for fund balance classification purposes.
Assigned fund balances are amounts constrained by the City's intent to be used for a specific purpose, but
are neither restricted nor committed. Intent is expressed by the City Council or its designee and may be
changed at the discretion of the City Council or its designee. This category includes nonspendable when it
is the City's intent to use proceeds or collections for a specific purpose, and residual fund balances, if any, of
Special Revenue, Capital Projects and Debt Service Funds which have not been restricted or committed.
Through a council resolution, the City Council has designated the City Manager to determine the amount of
assigned Fund balance.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
61
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
P. Net Position and Fund Balance, Continued
Unassigned fund balance represents residual amounts that have not been restricted, committed, or assigned.
This includes the residual general fund balance and residual fund deficits, if any, of other governmental
funds.
Hierarchy of Expenditures to Classify Fund Balance Amounts
To determine the composition of ending fund balances, the City considers for expenditures made in any
governmental fund, the restricted amounts will be reduced first, followed by committed amounts, assigned
amounts, and then unassigned amounts.
2. BUDGETS AND BUDGETARY ACCOUNTING
The City follows these procedures in establishing the budgetary data reflected in the basic financial
statements:
Prior to June 30 the City Manager submits to the City Council a proposed operating budget for the
fiscal year commencing the following July 1. The operating budget includes proposed expenditures
and the means of financing them.
The public is given an opportunity to comment on the budget at a noticed City Council meeting.
Prior to July 1, the budget is legally enacted through passage of a resolution.
During the fiscal year, the City Manager is authorized to transfer budgeted amounts between line
items, provided that the transfer is within the same fund, regardless of the specific department
activity. This includes the authority to transfer from the General Fund budgeted contingency
amounts that are approved by the City Council during the budget adoption. The City Manager is
authorized to increase revenue and expenditure budget for various departmental functions, when
the net budget impact is zero.
The City Manager is authorized to increase the appropriations for the following fiscal year in an
amount not to exceed the amount of funds encumbered or designated by the City Manager as
needed for expenses that did not occur prior to the year-end, but are expected to be expended in the
next year consistent with the original purpose.
As part of the annual Budget adoption the City Council authorizes the carry-over unexpended
capital project appropriations, for those projects where work and expenditures will continue in the
subsequent year.
Formal budgetary integration is employed as a management control device during the year for the
general fund, special revenue funds and capital projects funds.
Budgets for the general, special revenue and capital projects funds are adopted on a basis consistent
with generally accepted accounting principles in the United States.
No major capital projects funds incurred expenditures in excess of their budgets for the year ended June 30,
2020.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
62
3. CASH AND INVESTMENTS
The City's dependence on property tax receipts, which are received semi-annually, requires it to maintain
significant cash reserves to finance operations during the remainder of the year. The City pools cash as
described under the policy section below.
A. Policies
California Law requires banks and savings and loan institutions to pledge government securities with a
market value of 110% of the City's cash on deposit, or first trust deed mortgage notes with a market value of
150% of the deposit, as collateral for these deposits. Under California law, this collateral is held in a separate
investment pool by another institution in the City's name and places the City ahead of general creditors of
the institution.
The City pools cash from all sources and all funds, except certain specific investments within funds and
cash with fiscal agents, so that it can be invested at the maximum yield, consistent with safety and liquidity,
while individual funds can make expenditures at any time.
The City and its fiscal agents invest in individual investments and in investment pools. Individual
investments are evidenced by specific identifiable pieces of paper called security instruments, or by an
electronic entry registering the owner in the records of the institution issuing the security, called the book
entry system. Individual investments are generally made by the City's fiscal agents as required under its
debt issues. In order to maximize security, the City employs the Trust Department of a bank as the
custodian of all City managed investments, regardless of their form.
The City's investments are carried at fair value, as required by generally accepted accounting principles.
The City adjusts the carrying value of its investments to reflect their fair value at each fiscal year end, and it
includes the effects of these adjustments in income for that fiscal year.
B. Classification
Cash and investments are classified in the financial statements as shown below, based on whether or not
their use is restricted under the terms of City agreements.
Primary Government:
Cash and investments 307,056,634$
Fiduciary Funds:
Cash and investments 42,010,805
Total cash and investments 349,067,439$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
63
3. CASH AND INVESTMENTS, Continued
B. Classification, Continued
C. Investments Authorized by the California Government Code and the City’s Investment Policy
The City's Investment Policy and the California Government Code allow the City to invest in the following,
provided the credit ratings of the issuers are acceptable to the City; and approved percentages and
maturities are not exceeded. The table below also identifies certain provisions of the California Government
Code, or the City's Investment Policy where the City's Investment Policy is more restrictive.
Cash on hand 7,757$
Deposits with financial institutions 1,781,615
Investments 317,855,050
Cash and investments with fiscal agent 29,423,017
Total cash and investments 349,067,439$
Authorized Investment Type
Maximum
Maturity
Minimum Credit
Quality
Maximum
Percentage of
Portfolio
Maximum
Investment In One
Issuer
Negotiable Certificates of Deposit 5 years A-1 30% 20%
Bankers' Acceptance 180 days A-1 40% 20% of Portfolio
U.S. Treasury Bills and Notes 5 years N/A No Limit No Limit
U.S. Government Agency Securities 5 years N/A 25% for callable 35%
California Asset Management Program N/A N/A No Limit No Limit
Commercial Paper 270 days A-1 25% 20% of Portfolio
Time Certificates of Deposit 1 year N/A 10% No Limit
State Local Agency Investment Fund N/A N/A No Limit No Limit
Asset-Backed Securities N/A AA 20% 5%
Medium-Term Notes 5 years A 30% 5%
Money Market Funds N/A AAA 20% No Limit
Municipal Securities 5 years A No Limit 5%
Supranationals 5 years AA 30% 10%
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
64
3. CASH AND INVESTMENTS, Continued
D. Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an
investment. Normally, the longer the maturity of an investment, the greater the sensitivity of its fair value
to changes in market interest rates. The City generally manages its interest rate risk by holding investments
to maturity.
Information about the sensitivity of the fair values of the City's investments (including investments held by
bond trustees) to market interest rate fluctuations is provided by the following table that shows the
distribution of the City's investments by maturity or earliest call date:
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by
California Government Code Section 16429 under the oversight of the Treasurer of the State of California.
The City’s investments with LAIF as of June 30, 2020, include a portion of the pool funds invested in
Structured Notes and Asset-Backed Securities. These investments include the following:
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 have
embedded forwards or options.
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 mortgages (such as Collateralized Mortgage Obligations) or credit card receivables.
As of June 30, 2020, the City had $50,146,126 invested in LAIF, which had invested 3.37% of the pool
investment funds in Structured Notes and Asset-Backed Securities as compared to 1.77% in the previous
year. The LAIF fair value factor of 1.004912795 was used to calculate the fair value of the investments in
LAIF.
Investment Type
12 Months or
less
13 to 24
Months
25 to 60
Months Total
Asset-Backed Securities -$ 4,001,585$ 6,751,090$ 10,752,675$
U.S. Treasury Notes 7,231,677 16,165,438 41,891,825 65,288,940
Supranationals - 2,054,056 4,859,264 6,913,320
Medium-Term Notes 9,585,153 5,471,196 36,501,026 51,557,374
U.S. Government Agency Securities 14,090,808 15,566,801 48,964,160 78,621,769
Local Agency Investment Fund 50,146,126 - - 50,146,126
California Asset Management Program 52,556,760 - - 52,556,760
Money Market Funds 2,018,086 - - 2,018,086
Total Investments 135,628,610$ 43,259,075$ 138,967,366$ 317,855,050$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
65
3. CASH AND INVESTMENTS, Continued
D. Interest Rate Risk, Continued
The City is a participant in the California Asset Management Program (CAMP). CAMP is an investment
pool offered by the California Asset Management Trust (the Trust). The Trust is a joint powers authority
and public agency created by the Declaration of Trust and established under the provisions of the California
Joint Exercise of Powers Act (California Government Code Sections 6500 et seq., or the "Act") for the
purpose of exercising the common power of its Participants to invest certain proceeds of debt issues and
surplus funds. The Pool's investments are limited to investments permitted by subdivisions (a) to (n),
inclusive, of Section 53601 of the California Government Code. The City reports its investments in CAMP at
the fair value amounts provided by CAMP, which is the same as the value of the pool share. The fair value
approximated is the City's cost. As of June 30, 2020, these investments have an average maturity of 49 days.
The City's investments include Asset-Backed Securities in the amount of $10,752,675 that are highly
sensitive to interest rate fluctuations to a greater degree than already indicated above
E. Fair Value Hierarchy
The City categorizes its fair value measurements within the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on the valuation inputs used to measure fair value of
the assets. Level 1 inputs are quoted prices in an active market for identical assets; Level 2 inputs are
significant other observable inputs; and Level 3 inputs are significant unobservable inputs.
The following is a summary of the fair value hierarchy of the fair value of investments of the City as of June
30, 2020:
Level 2 Total
Investments By Fair Value Level:
Asset-Backed Securities 10,752,675$ 10,752,675$
U.S. Treasury Notes 65,288,940 65,288,940
Supranationals 6,913,320 6,913,320
Medium-Term Notes 51,557,374 51,557,374
U.S. Government Agency Securities 78,621,769 78,621,769
Total 213,134,078$ 213,134,078
Investments Exempt From Disclosure:
Local Agency Investment Fund 50,146,126
California Asset Management Program 52,556,760
Money Market Funds 2,018,086
Total 317,855,050$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
66
3. CASH AND INVESTMENTS, Continued
E. Fair Value Hierarchy, Continued
U.S. Government agency securities, medium term notes, asset-backed securities, and commercial, classified
in Level 2 of the fair value hierarchy, are valued using matrix pricing techniques maintained by various
pricing vendors. Matrix pricing is used to value securities based on the securities' relationship to
benchmark quoted prices. The California Local Agency Investment Fund (LAIF), California Asset
Management Program and money market funds are classified as exempt in the fair value hierarchy. Fair
value is defined as the quoted market value on the last trading day of the period. These prices are obtained
from various pricing sources by our custodian bank.
F. Credit Risk
Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the
investment. This is measured by the assignment of a rating by a nationally recognized statistical rating
organization. The actual ratings as of June 30, 2020 were provided by Standard and Poor's investment rating
system except as noted. The Local Agency Investment Fund was not rated as of June 30, 2020.
G. Concentration of Credit Risk
Included in the table at Note F above are the following significant investments in any one issuer other than
U.S. Treasury securities, mutual funds, and external investment pools.
Investment Type AAA AA+ AA AA- A+ A A- Total
Asset-Backed Securities 5,975,279$ -$ 1,111,533$ -$ -$ -$ -$ 7,086,812$
U.S. Treasury Notes - 65,288,940 - - - - - 65,288,940
Supranationals 4,859,264 - - - - - - 4,859,264
Medium Term Notes 1,875,327 3,230,766 7,384,361 3,545,597 1,032,924 24,485,423 10,002,977 51,557,375
U.S. Government Agency
Securities - 78,621,769 - - - - - 78,621,769
California Asset
Management Program 52,556,760 - - - - - - 52,556,760
Money Market Funds 2,018,086 - - - - - - 2,018,086
Total 67,284,716$ 147,141,475$ 8,495,894$ 3,545,597$ 1,032,924$ 24,485,423$ 10,002,977$ 261,989,006
Not rated:
Asset-Backed Securities 3,665,862
State Local Agency Investment Fund 50,146,126
Supranationals 2,054,056
Total Investments 317,855,050$
Reporting
Unit Issuer Investment Type
Reported
Amount
Entity-wide Federal Home Loan Bank U.S. Government Agency Securities 30,121,287$
Federal Home Loan Mortgage Corporation U.S. Government Agency Securities 9,574,266
Federal National Mortgage Association U.S. Government Agency Securities 32,100,685
Federal Farm Credit Bank U.S. Government Agency Securities 6,820,320
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
67
4. INTERFUND TRANSACTIONS
A. Transfers between Funds
Transfers between funds during the year ended June 30, 2020 were as follows:
Significant transfers noted above made to major capital project funds were to fund on-going capital projects.
B. Current Interfund Balances
Current interfund balances arise in the normal course of business and are expected to be repaid shortly after
the end of the fiscal year. Significant balances in the capital project funds are a result of initiation of capital
projects expected to be funded by future fees. No formal repayment schedules have been adopted for these
temporary loans. As of June 30, 2020, the following funds have balances due to the General Fund:
Transfers Out General
General
Improvements
Projects
Capital
Projects
Parks Projects
Capital
Projects
Streets
Projects
Capital
Projects
Public
Facilities
Impact Fee
Capital
Projects
Internal
Service Funds Total
Major Funds
General Fund - 5,660,794 1,928,278 416,160 - 1,229,066 9,234,298$
Affordable Housing 11,808 11,808
Measure BB Grants - - - 487,683 - - 487,683
Public Facilities Impact
Fees Capital Projects - 248,306 2,053,217 - - 2,301,523
Traffic Impact Fees
Capital Projects - - - 1,010,824 - - 1,010,824
Dublin Crossing Contribution
Capital Projects - 3,500,724 - - - - 3,500,724
Non-major Governmental Funds 25,290 - 1,909,438 3,691,372 - 5,626,100
Governmental funds subtotal 37,098 9,409,824 5,890,933 5,606,039 - 1,229,066 22,172,960
Internal Service Funds - 418,429 289,187 - - - 707,616
Total 37,098$ 9,828,253$ 6,180,120$ 5,606,039$ -$ 1,229,066$ 22,880,576$
Transfers In
Due to General Fund:
Measure BB Grants Special Revenue Fund 3,570,265$
Public Facilities Impact Fees Capital Projects Fund 6,615,060
Traffic Impact Fees Capital Projects Fund 70,135
Non-Major Governmental Funds 1,617,626
Internal Service Funds 14,299
Total 11,887,385$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
68
5. NOTES RECEIVABLE
The following table summarizes the notes receivable outstanding as of June 30, 2020:
Revolving Home Loans - As part of the City of Dublin First Time Homebuyer Loan Program (FTHLP), the
City provides financial assistance, in the form of a deferred loan. The program targets first time
homebuyers within a certain income range purchasing their first home in Dublin. Monthly payments of
principal and interest are generally deferred until the homes are sold, or are in default. In certain situations
the loan may also be due when the homeowners refinance their primary mortgage. The total outstanding
amount due, including accrued simple interest at 3.5% per annum, as of June 30, 2020 was $1,311,423. As of
June 30, 2020, there were no loans in default.
First Time Homebuyer Loan Program 1,311,423$
Eden (Wicklow) Square Senior Affordable Housing 2,993,180
SBA Microloan Program Receivables 519,461
Arroyo Vista Predevelopment/Construction Loan - Family Housing 2,559,885
Arroyo Vista Predevelopment/Construction Loan - Senior Housing 1,339,639
Veterans Family Apartment Development Loan 7,195,947
Total 15,919,535$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
69
5. NOTES RECEIVABLE, Continued
Details of the Revolving Home Loans as of June 30, 2020 were as follows:
REPAYMENT OF
LOAN ORIGINAL ACCRUED INTEREST AND LOAN
LOAN # DATE LOAN AMOUNT INTEREST PRINCIPAL BALANCE
#07-09 9/21/2007 26,036$ 11,703$ -$ 37,739$
#07-11 10/12/2007 38,141 15,728 (53,869) -
#07-12 10/8/2007 33,051 15,467 - 48,518
#07-14 10/2/2007 19,610 8,751 - 28,361
#07-04 10/31/2007 50,000 22,171 - 72,171
#07-15 12/4/2007 24,536 10,801 - 35,337
#07-16 12/28/2007 8,000 3,503 - 11,503
#07-18 2/29/2008 24,170 10,435 - 34,605
#08-05 2/3/2009 22,619 9,039 - 31,658
#08-06 2/11/2009 55,404 22,070 - 77,474
#08-07 4/10/2009 27,425 10,776 - 38,201
#08-08 6/30/2009 39,576 15,242 - 54,818
#09-02 9/29/2009 36,595 13,775 - 50,370
#10-02 1/26/2011 40,000 13,204 - 53,204
#10-03 5/6/2011 26,700 8,555 - 35,255
#11-03 11/22/2011 30,839 9,290 - 40,129
#11-01 12/9/2011 26,025 7,812 - 33,837
#11-05 1/13/2012 29,999 8,887 - 38,886
#11-06 11/3/2012 36,415 9,959 (46,374) -
#11-08 1/31/2012 35,249 10,381 - 45,630
#11-10 4/3/2012 38,586 11,135 - 49,721
#12-01 10/30/2012 29,999 8,053 - 38,052
#12-02 1/31/2013 40,000 10,380 - 50,380
#12-04 4/12/2013 36,749 9,287 - 46,036
#12-05 4/26/2013 35,249 8,860 - 44,109
#12-07 5/15/2013 35,249 8,796 - 44,045
#12-06 6/12/2013 31,499 7,776 - 39,275
#13-01 7/31/2013 40,000 9,686 - 49,686
#13-03 10/2/2013 40,000 9,445 - 49,445
#13-04 12/9/2013 40,000 9,184 - 49,184
#15-01 7/1/2016 40,000 4,774 (44,774) -
#17-01 5/25/2018 40,000 2,942 - 42,942
#19-01 7/17/2019 40,000 528 (40,528) -
#19-02 11/22/2019 40,000 852 - 40,852
Totals 1,157,721$ 339,247$ (185,545)$ 1,311,423$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
70
5. NOTES RECEIVABLE, Continued
Eden Senior Affordable Housing Loan - (Wicklow Square) - On September 23, 2002, the City selected Eden
Housing, Inc. as the developer for the affordable senior housing at the site of the former library located at
7606 Amador Valley Boulevard. This site also houses a senior center that the City constructed during fiscal
year 2003-2004. On February 1, 2004, the City entered into an agreement and provided a loan in the amount
of $2,248,248 to the Dublin Senior Limited Partnership to support the senior housing project. The interest on
the outstanding principal balance of the loan is accrued at the rate of 3% simple interest per annum. The
entire outstanding principal balance of the loan, together with the interest accrued, shall be payable in full
on February 8, 2059, the 55th anniversary of the Initial Disbursement Date of February 18, 2004.
Repayments commenced on June 1, 2006, and on the first day of each June, 60% of the Surplus Cash
generated by the project during the previous calendar year are remitted to reduce the outstanding
indebtedness. Any payment not paid when due shall bear interest at a rate equal to 10% annum from the
due date until it is paid in full. As of June 30, 2020, the outstanding loan amount was $2,993,180.
SBA Microloan Program – The City of Dublin’s Small Business Emergency Microloan Program was
established by the Dublin City Council with the intention to assist in retaining local small businesses
(primarily restaurants and retailers) that are experiencing severe negative impacts due to the COVID-19
pandemic. The Program provides zero-interest, unsecured, short-term loans of up to $10,000 to eligible
independently or locally owned businesses with priority for restaurants and retail businesses. Loan funds
must be used to cover payroll, rent, operating expenses or working capital. Loan repayment is deferred for
36 months after loan approval. The loan may be up to 100% forgiven based on either longevity of the
business operating in Dublin or sales tax generation by the business.
Arroyo Vista Predevelopment/Construction Loan - Family and Senior Projects - (Emerald Vista) – On June 1, 2011,
the City entered into an agreement to provide a loan to Eden Dougherty, L.P., a California nonprofit public
benefit corporation, with a not-to-exceed $7,600,000 principal amount in accordance to the Arroyo Vista
Disposition and Development Agreement dated July 25, 2007 concerning the redevelopment of the real
property located at 6700 Dougherty Road in the City of Dublin. The City agreed to provide a loan to Eden
to assist in financing the development of the Family Project and Senior Project. The City determined that the
development of the project is in the interests of health, safety and welfare of the residents of the City, and
that the City financing is necessary to make the project affordable to low and very low income households
for a term of not less than fifty-five years. The note will not bear interest until the earlier of (i) the date that
the project's construction financing is either converted to a permanent loan or repaid in full, or (ii) twelve
months following the date of issuance of the final certificate of occupancy or equivalent for the project;
thereafter, the outstanding principal balance of the loan shall bear interest at a rate equal to three percent
simple annual interest. Annual payments shall be due and payable on a residual receipts basis in
accordance with the formula set forth in the note. The entire outstanding principal balance and accrued
interest shall be paid in full on the earlier of (i) the fifty fifth anniversary of the date of issuance of the final
certificate of occupancy or (ii) the fifty-seventh anniversary of the loan origination date. The City has the
right to accelerate maturity date and declare all sums immediately due and payable to the City upon the
occurrence of an event of developer default, including developer's failure to commence or complete
construction of the project within times period specified in the note. As of June 30, 2020, the outstanding
loan amounts for the Family Project and the Senior Project were $2,559,885 and $1,339,639, respectively.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
71
5. NOTES RECEIVABLE, Continued
Veterans Family Apartment Development Loan – On October 1, 2015, the City entered into an agreement to
provide a loan to Dublin Family, L.P., a California limited partnership. The City entered into an agreement
and provided a loan in the amount of $6,400,000 to the Dublin Family L.P. to build on the property a 66-unit
affordable multifamily rental housing project consisting of 65 affordable rental housing units primarily for
very low and low income veterans and their families, one resident manager's unit, and other related
improvements. The only payment to be received is the accrued interest. The principal is not due until the
maturity date. The entire outstanding principal balance of the loan, together with the interest accrued, shall
be payable in full on June 1, 2070. The City has the right to accelerate maturity date and declare all sums
immediately due and payable to the City upon the occurrence of an event of developer default, including
developer's failure to commence or complete construction of the project within times period specified in the
note. As of June 30, 2020, the outstanding loan amount was $7,195,947.
6. CAPITAL ASSETS
A. Current Year Activities
Capital asset activities during the year ended June 30, 2020 were as follows:
Balance Balance
July 1, 2019 Additions Retirements Transfers June 30, 2020
Non-depreciable assets:
Land 182,170,145$ -$ -$ -$ 182,170,145$
Streets right of way 35,908,389 - - 35,908,389
Construction in progress 80,094,568 21,496,402 (1,653,881) (19,314,691) 80,622,398
Total non-depreciable assets 298,173,102 21,496,402 (1,653,881) (19,314,691) 298,700,932
Depreciable assets:
Infrastructure 397,499,192 - - 18,642,453 416,141,645
Buildings and improvements 117,343,205 - - 672,238 118,015,443
Vehicles and equipment 20,295,629 2,126,543 (319,585) - 22,102,587
Total depreciable assets 535,138,026 2,126,543 (319,585) 19,314,691 556,259,675
Less accumulated depreciation:
Infrastructure (248,070,689) (7,696,252) - - (255,766,941)
Buildings and improvements (46,110,929) (3,894,803) - - (50,005,732)
Vehicles and equipment (7,878,504) (1,770,973) 271,506 - (9,377,971)
Total accumulated depreciation (302,060,122) (13,362,028) 271,506 - (315,150,644)
Total depreciable assets, net 233,077,904 (11,235,485) (48,079) 19,314,691 241,109,031
Total capital assets 531,251,006$ 10,260,917$ (1,701,960)$ -$ 539,809,963$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
72
6. CAPITAL ASSETS, Continued
B. Project Commitments
As of June 30, 2020, the City had outstanding commitments with contractors for the following projects:
C. Capital Asset Contributions
Some capital assets may be acquired using Federal and State grant funds, or they may be contributed by
developers or other governments. GASB Statement 34 requires that these contributions be accounted for as
revenues at the time the capital assets are contributed.
D. Depreciation Allocation
Depreciation expense is charged to functions and programs based on their usage of the related assets. The
amounts allocated to each function or programs are as follows:
Project Commitment
Facility Construction 97,526$
Facility Modification 202,877
Park Construction 1,782,242
Park Improvements 113,643
Street Improvements 3,061,347
Street Repair/Maintenance 167,062
Street Signal Improvements 99,457
Technology Upgrade 36,544
Miscellaneous 847,434
Governmental Activities:
General Government 1,435,868$
Police 600,864
Fire 409,950
Public Works 5,905,531
Parks and Community Service 4,612,384
Community Development 397,431
Total depreciation expense 13,362,028$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
73
7. LONG TERM DEBT
A. Current Year Transactions and Balances
Long-term debt transactions and balances during the year ended June 30, 2020 were as follows:
B. Dublin Crossing Loan Payable
As discussed in Note 14, the City entered into several agreements with various developers and merchant
builders who are developing numerous residential and commercial projects throughout the City. On
November 19th 2013, the City entered into one of these agreements with Dublin Crossing Venture LLC
(Developer), for the acquisition and development of a parcel of land. The City acquired the land and
subsequently conveyed it to the Developer on March 23, 2017. Included in the development plan are
residential units, commercial uses, a community park, a neighborhood park, privately owned open space,
and an elementary school site. The City exercised its option to enter into an interest-free loan of $5,450,042
with the Developer to finance the land acquisition. The repayment of the loan is due in four annual
installments. Installment payments commenced in July 2018 shall be fully repaid in July 2021.
C. Debt Service Requirements
The annual debt service requirement on the loan payable is as follows:
Due in
Balance Balance Due Within More than
July 1, 2019 Additions Deletions June 30, 2020 One Year One Year
Governmental Activities:
Dublin Crossing Loan Payable 2,736,372 - (1,368,186) 1,368,186 1,368,186 -
Total long-term debt 2,736,372$ -$ (1,368,186)$ 1,368,186$ 1,368,186$ -$
Year Ending
June 30, Principal
2021 1,368,186$
Total 1,368,186$
,
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
74
8. FUND BALANCES
Detailed classifications of the City's Fund Balances, as of June 30, 2020, are stated below:
General Public Dublin Other
General Affordable Measure BB Improvement Parks Streets Facilities Fire Impact Traffic Impact Crossing Governmental
Fund Housing Grants Projects Projects Projects Impact Fees Fees Fees Contribution Funds Total
Nonspendable:
Prepaids 13,061$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 25,000$ 38,061$
Subtotal Non-Spendable Fund Balance 13,061 - - - - - - - - - 25,000 38,061
Restricted for:
Cemetery Endowment 60,000 - - - - - - - - - - 60,000
Public Safety Programs - - - - - - - - - - 789,607 789,607
Street Maintenance and Construction - - - - - - - - - - 9,333,830 9,333,830
Health and Welfare Programs - - - - - - - - - - 1,082,825 1,082,825
Heritage Park Maintenance 750,000 - - - - - - - - - - 750,000
Recycling Programs - - - - - - - - - - 762,830 762,830
Impact Fee Capital Projects - - - - - - 25,171,754 149,733 27,036,370 - - 52,357,857
Capital Improvement Projects - - - - - - - - - 7,270,307 4,154,129 11,424,436
Developer Contribution - Heritage Park 19,000 - - - - - - - - - - 19,000
Developer Contribution - Nature Park 60,000 - - - - - - - - - - 60,000
Downtown Community Benefit Program 1,049,000 - - - - - - - - - - 1,049,000
Housing - 29,121,150 - - - - - - - - - 29,121,150
Subtotal Restricted Fund Balance 1,938,000 29,121,150 - - - - 25,171,754 149,733 27,036,370 7,270,307 16,123,221 106,810,535
Committed to:
Economic Stability 8,000,000 - - - - - - - - - - 8,000,000
Downtown Public Improvements 8,454,625 - - - - - - - - - - 8,454,625
Emergency Communications 532,113 - - - - - - - - - - 532,113
Fire Services OPEB 5,324,225 - - - - - - - - - - 5,324,225
Innovations and New Opportunities 1,065,471 - - - - - - - - - - 1,065,471
Maintenance Facility 58,350 - - - - - - - - - - 58,350
Don Biddle Community Park 1,500,000 - - - - - - - - - - 1,500,000
Historic Park Cemetery Expansion 1,447,764 - - - - - - - - - - 1,447,764
One Time Initiatives 5,497,010 - - - - - - - - - - 5,497,010
Contribution to Public Facility Fee 6,000,000 - - - - - - - - - - 6,000,000
Fallon Sports Park 3,110,500 - - - - - - - - - - 3,110,500
Utility Undergrounding 1,170,190 - - - - - - - - - - 1,170,190
Dublin Sports Ground 1,502,671 - - - - - - - - - - 1,502,671
Economic Development 126,359 - - - - - - - - - - 126,359
Public Safety 2,000,000 - - - - - - - - - - 2,000,000
Cultural Arts Center 4,539,197 - - - - - - - - - - 4,539,197
Advance to Public Facility Fee 7,500,000 - - - - - - - - - - 7,500,000
Subtotal Committed Fund Balance 57,828,475 - - - - - - - - - - 57,828,475
Assigned to:
Non-street CIP 2,462,100 - - - - - - - - - - 2,462,100
Employees Accrued Leave 1,044,730 - - - - - - - - - - 1,044,730
Operating Carryovers 1,724,011 - - - - - - - - - - 1,724,011
ClP Carryovers 3,502,246 - - - - - - - - - - 3,502,246
Catastrophic Loss and Recovery 17,702,316 - - - - - - - - - - 17,702,316
Service Continuity Obligations 3,150,000 - - - - - - - - - - 3,150,000
Pension and Post Employment Benefits 15,000,000 - - - - - - - - - - 15,000,000
Fiscally Responsible Adjustment 325,000 - - - - - - - - - - 325,000
Internal Service Fund 1,500,000 - - - - - - - - - - 1,500,000
Municipal Regional Permit 2,282,905 - - - - - - - - - - 2,282,905
HVAC Replacement 4,202,041 - - - - - - - - - - 4,202,041
Relocate Parks 250,000 - - - - - - - - - - 250,000
Pension Rate Stabilization 2,000,000 - - - - - - - - - - 2,000,000
Parks and Street Contingency Maintenance 226,227 - - - - - - - - - - 226,227
Commercial Facade Improvement Grant 374,157 - - - - - - - - - - 374,157
Police Service Building 258,925 - - - - - - - - - - 258,925
Village Parkway Pavement 5,000,000 - - - - - - - - - - 5,000,000
Climate Action Plan 3,000,000 - - - - - - - - - - 3,000,000
Subtotal Assigned Fund Balance 64,004,658 - - - - - - - - - - 64,004,658
Unassigned Fund Balance:
Fund Balance Deficits - - (3,017,852) - - - - - - - (504,854) (3,522,706)
Unrealized Gain on Investments/(Loss) 8,453,240 - - - - - - - - - - 8,453,240
Cash Flow Per City Policy 58,411,787 - - - - - - - - - - 58,411,787
Subtotal Unassigned Fund Balance 66,865,027 - (3,017,852) - - - - - - - (504,854) 63,342,321
Total Fund Balance (Deficit)190,649,221$ 29,121,150$ (3,017,852)$ -$ -$ -$ 25,171,754$ 149,733$ 27,036,370$ 7,270,307$ 15,643,367$ 292,024,050$
Major Funds
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
75
8. FUND BALANCES, Continued
A. Minimum Fund Balance Policies
The City's Reserve Policy requires the City to maintain an Unrestricted General Funds, for cash flow
purposes, of minimum equal to two months of budgeted operating expenditures with a goal to achieve a
maximum of four months. As of June 30, 2020 the cash flow reserves, which are part of the Unassigned
Fund Balance, were above the minimum at approximately 8 months, which were over the desired target of
4 months. Funds may be appropriated as to Undesignated Capital Contribution by designation from City
Council only for high priority one time capital expenditures provided the minimum fund balance would
remain.
B. Fund Balance Deficits
The funds listed in the table below had fund balance deficits as of June 30, 2020. These deficits are expected
to be eliminated by future revenues.
9. DEFERRED COMPENSATION PLAN
City employees may defer a portion of their compensation under a City sponsored deferred compensation
plan created in accordance with Internal Revenue Code Section 457. Under this plan, participants are not
taxed on the deferred portion of their compensation until it is distributed to them; distributions may be
made only at termination of employment, retirement, death, or in an emergency as defined by the Plan. In
accordance with GASB Statement No. 32, the funds have been placed in a trust administered by ICMA
Retirement Corporation and are not available to the City's general creditors. Accordingly, the City does not
report the assets in the financial statements.
10. PENSION PLAN
A. General Information about the CalPERS Pension Plan
Plan Description and Summary of Balances by Plan - All qualified permanent and probationary employees
are eligible to participate in the City's Miscellaneous (all other) Employee Pension Rate Plan. The City's
Miscellaneous Rate Plan is part of the public agency cost-sharing multiple-employer defined benefit
pension plan (PERF C), which is administered by the California Public Employees' Retirement System
(CalPERS). PERF C consists of a miscellaneous pool and a safety pool (also referred to as "risk pools"),
which comprised individual employer miscellaneous and safety rate plans, respectively. Individual
employers may sponsor more than one miscellaneous and safety rate plan. The employer participates in
one cost-sharing multiple-employer defined benefit pension plan regardless of the number of rate plans the
employer sponsors. The City sponsors two rate plans (miscellaneous). Benefit provisions under the Plan are
established by State statute and City resolution. CalPERS issues publicly available reports that include a full
description of the pension plan regarding benefit provisions, assumptions and membership information
that can be found on the CalPERS website.
Fund Fund Deficit
Measure BB Grants Special Revenue Fund 3,017,852$
TDA Fund 71,773
State Grant Park 354,170
Federal COVID-19 Financial Assistance Fund 53,911
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
76
10. PENSION PLAN, Continued
A. General Information about the CalPERS Pension Plan, Continued
Benefits Provided - CalPERS provides service retirement and disability benefits, annual cost of living
adjustments and death benefits to plan members, who must be public employees and beneficiaries. Benefits
are based on years of credited service, equal to one year of full time employment. All members are eligible
for non-duty disability benefits after 10 years of service. The death benefit is one of the following: the Basic
Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living
adjustments for each plan are applied as specified by the Public Employees' Retirement Law. The Pension
Reform Act of 2013 (PEPRA), Assembly Bill 340, is applicable to employees new to CalPERS and hired after
December 31, 2012.
The Plan's provisions and benefits in effect as of June 30, 2020, are summarized as follows:
Contributions - Section 20814(c) of the California Public Employees' Retirement Law requires that the
employer contribution rates for all public employers be determined on an annual basis by the actuary and
shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plan
are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate is
the estimated amount necessary to finance the costs of benefits earned by employees during the year, with
an additional amount to finance any unfunded accrued liability. The City is required to contribute the
difference between the actuarially determined rate and the contribution rate of employees.
For the measurement period ended June 30, 2019, the City's contributions to the Plan were $1.241,065.
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to
Pensions
As of June 30, 2020, the City reported $15,505,908 in net pension liabilities for its proportionate share of the
net pension liability of the Plan.
The City's net pension liability for the Plan is measured as the proportionate share of the net pension
liability. The net pension liability of the Plan is measured as of June 30, 2019, and the total pension liability
for the Plan used to calculate the net pension liability was determined by an actuarial valuation as of June
30, 2018 rolled forward to June 30, 2019 using standard update procedures. The City's proportion of the net
pension liability was based on a projection of the City's long-term share of contributions to the pension plan
relative to the projected contributions of all participating employers, actuarially determined.
Miscellaneous
Miscellaneous PEPRA
Hire Date Prior to January 1, 2013 After January 1, 2013
Benefit formula 2.7% @ 55 2% @ 62
Benefit vesting schedule 5 years service 5 years service
Benefit payment Monthly for life Monthly for life
Retirement age 55 62
Monthly benefits, as a % of annual salary 2.70% 2.00%
Required employee contribution rates 8.000% 6.250%
Required employer contribution rates 13.182% 6.999%
Required unfunded liability payment 910,035$ 2,686$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
77
10. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to
Pensions, Continued
The City's proportionate share of the net pension liability for the Plan as of the measurement dates June 30,
2017 and 2018 was as follows:
For the year ended June 30, 2020, the City recognized net pension expense of $2,949,603 for the
Miscellaneous Plan on the Statement of Activities. As of June 30, 2020, the City reported deferred outflows
of resources and deferred inflows of resources related to pensions from the following sources:
Proportion - June 30, 2018 0.14569%
Proportion - June 30, 2019 0.15132%
Change - Increase (Decrease) 0.00563%
Deferred Outflows
of Resources
Deferred Inflows of
Resources
Pension contributions subsequent
to measurement date 1,522,330$ -$
Changes of assumptions 739,392 262,109
Differences between expected
and actual experience 1,076,950 83,442
Changes in employer's
proportion 507,260 198,072
Differences between the
employer's contribution and the
employer's proportionate share of
contributions 2,660 1,105,294
Net differences between
projected and actual earnings on
plan investments - 271,098
Total 3,848,592$ 1,920,015$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
78
10. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to
Pensions, Continued
The $1,522,330 reported as deferred outflows of resources related to contributions subsequent to the
measurement date will be recognized as a reduction of the net pension liability in the year ended June 30,
2021. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized as pension expense as follows:
Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate - The
following presents the City's proportionate share of the net pension liability for the Plan, calculated using
the discount rate for the Plan, as well as what the City's proportionate share of the net pension liability
would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point
higher than the current rate:
Fiscal Year
Ending June 30:
2021 680,676$
2022 (360,550)
2023 31,350
2024 54,771
Thereafter -
1% Decrease 6.15%
Net Pension Liability 24,703,399$
Current Discount Rate 7.15%
Net Pension Liability 15,505,908$
1% Increase 8.15%
Net Pension Liability 7,914,029$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
79
10. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to
Pensions, Continued
Actuarial Assumptions - For the measurement period ended June 30, 2019, the total pension liabilities were
determined by rolling forward the June 30, 2018 total pension liability. The June 30, 2018 total pension
liabilities were based on the following actuarial methods and assumptions:
All other actuarial assumptions used in the June 30, 2018 valuation were based on the results of a January
2014 actuarial experience study for the period 1997 to 2011. Further details of the Experience Study can
found on the CalPERS website.
Discount Rate - The discount rate used to measure the total pension liability was 7.15% for the Plan. To
determine whether the municipal bond rate should be used in the calculation of a discount rate for each
plan, CalPERS stress tested plans that would most likely result in a discount rate that would be different
from the actuarially assumed discount rate. Based on the testing, none of the tested plans run out of assets.
Therefore, the current 7.15% discount rate is adequate and the use of the municipal bond rate calculation is
not necessary. The long term expected discount rate of 7.15% will be applied to all plans in the Public
Employees Retirement Fund (PERF). The stress test results are presented in a detailed report that can be
obtained from the CalPERS website.
The long-term expected rate of return on pension plan investments was determined using a building-block
method in which best-estimate ranges of expected future real rates of return (expected returns, net of
pension plan investment expense and inflation) are developed for each major asset class.
In determining the long-term expected rate of return, CalPERS took into account both short-term and long-
term market return expectations as well as the expected pension fund cash flows. Using historical returns of
all the funds' asset classes, expected compound returns were calculated over the short-term (first 10 years)
and the long-term (11-60 years) using a building-block approach. Using the expected nominal returns for
both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate
of return was set by calculating the single equivalent expected return that arrived at the same present value
of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected
rate of return was then set equivalent to the single equivalent rate calculated above and rounded down to the
nearest one quarter of one percent.
Valuation Date June 30, 2018
Measurement Date June 30, 2019
Actuarial Cost Method Entry-Age Normal Cost Method
Actuarial Assumptions:
Discount Rate 7.15%
Inflation 2.50%
Projected Salary Increases Varies by entry age and service
Investment Rate of Return (1)7.15%
Mortality Derived by CalPERS' Membership Data for all Funds
(1) Net of pension plan administrative expenses
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
80
10. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to
Pensions, Continued
The table below reflects the long-term expected real rate of return by asset class. The rate of return was
calculated using the capital market assumptions applied to determine the discount rate and asset allocation.
These rates of return are net of administrative expenses.
Pension Plan Fiduciary Net Position - Detailed information about each pension plan's fiduciary net
position is available in the separately issued CalPERS financial reports.
11. OTHER POST EMPLOYMENT BENEFITS
A. City of Dublin Retiree Health Plan
Plan Description - City of Dublin (City) Retiree Health Plan is a single-employer defined benefit healthcare
plan administered by the California Public Employees Retirement System (CalPERS). The plan provides
medical insurance benefits to eligible retirees and their eligible dependents in accordance with Public
Employee Retirement Law (Article 2). The Public Employees Retirement System Board of Administration
has the responsibility to approve health benefit plans and may contract with carriers offering health benefit
plans. The Board of Administration is responsible for adopting all rules and regulations, including the
scope and content of basic health plans. The California Government Code also defines certain rules for
contract agencies, such as the City of Dublin, to purchase health insurance benefits.
Asset Class (1)
Assumed Asset
Allocation
Real Return
Years 1 - 10 (2)
Real Return
Years 11+ (3)
Global Equity 50.00% 4.80% 5.98%
Fixed Income 28.00% 1.00% 2.62%
Inflation Sensitive 0.00% 0.77% 1.81%
Private Equity 8.00% 6.30% 7.23%
Real Assets 13.00% 3.75% 4.93%
Liquidity 1.00% 0.00% -0.92%
Total 100.00%
(2) An expected inflation of 2.00% used for this period.
(3) An expected inflation of 2.92% used for this period
(1) In the System's CAFR, 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 Securities.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
81
11. OTHER POST EMPLOYMENT BENEFITS, Continued
A. City of Dublin Retiree Health Plan, Continued
Contributions - There is no requirement imposed by CalPERS, to contribute any amount beyond the pay-as-
you-go contributions. The cost of monthly insurance premiums may be shared between the retiree and the
City. The contribution and cost sharing varies depending on: date of hire; the dependent status; and plan
selected. The City contributes PEMHCA to retirees hired after January 1, 2016. A minimum employer
monthly contribution requirement is established and may be amended by the CalPERS Board of
Administration and applicable laws. Within the parameters of the law, individual contracting agencies,
such as the City, are allowed to establish and amend the level of contributions made by the employer
towards the monthly cost of the plans. Changes to the employer contribution rate towards retiree benefits
are recorded in a resolution adopted by the City Council.
For the measurement period 2018-19, the City contributed $1,116,396.
Employees Covered
Net OPEB Liability
The City’s net OPEB liability was measured as of June 30, 2019 and the total OPEB liability used to the
calculate the net OPEB liability was determined by an actuarial valuation dated June 30, 2019, based on the
following actuarial methods and assumptions:
Inactive employees or beneficiaries
currently receiving benefits 67
Inactive employees entitled to but not yet
receiving benefits 5
Active employees 92
Total 164
Valuation Date June 30, 2019
Measurement Date June 30, 2019
Actuarial Cost Method Entry-Age Normal Cost Method
Actuarial Assumptions:
Discount Rate 6.25%
Inflation 2.75%
Contribution Policy Contributes full ADC
Salary Increases Varies by Entry Age and Service
Investment Rate of Return 6.25%
Mortality CalPERS 1997-2015 Experience Study
Post Retirement Benefit
Increase
Post-retirement mortality pro jected fully generational
with Scale MP-2019
Healthcare Trend Non-Medicare - 7.25% for 20211, decreasing to an ultimate
rate of 4.0% in 2076 and later years
Medicare - 6.3% for 2021, decreasing to an ultimate rate of
4.0% in 2076 and later years
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
82
11. OTHER POST EMPLOYMENT BENEFITS, Continued
A. City of Dublin Retiree Health Plan, Continued
Net OPEB Liability, Continued
The long-term expected rate of return on OPEB plan investments was determined using a building- block
method in which expected future real rates of return (expected returns, net of OPEB plan investment
expense and inflation) are developed for each major asset class. These ranges are combined to produce the
long-term expected rate of return by weighting the expected future real rates of return by the target asset
allocation percentage and by adding expected inflation. The target allocation and best estimates of
arithmetic real rates of return for each major asset class are summarized in the table on the following page.
Discount Rate
The discount rate used to measure the total OPEB liability was 6.25 percent. The projection of cash flows
used to determine the discount rate assumed that City contributions will be made at rates equal to the
actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net
position was projected to be available to make all projected OPEB payments for current active and inactive
employees and beneficiaries. Therefore, the long-term expected rate of return on OPEB plan investments
was applied to all periods of projected benefit payments to determine the total OPEB liability.
Target Expected Real
Asset Class Allocation* Rate of Return
Global Equity 59.00% 4.82%
Fixed Income 25.00% 1.47%
TIPS 5.00% 1.29%
Commodities 3.00% 0.84%
REITS 8.00% 3.76%
Assumed Long-Term Rate of Inflation 2.75%
Assumed Long-Term Investment Expenses n/a
Expected Long-Term Net Rate of Return, Rounded 6.25%
Discount Rate** 6.25%
* P olicy target effective October 1, 2018
**The fiduciary net position is projected to be sufficient to m ake projected benefit payments, and
the plan assets are expected to be invested using the strategy to achieve the expected return.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
83
11. OTHER POST EMPLOYMENT BENEFITS, Continued
A. City of Dublin Retiree Health Plan, Continued
Changes in the Net OPEB Liability
The changes in the Net OPEB liability for the OPEB Plan are as follows:
Sensitivity of the Net OPEB Liability to Changes in the Discount Rate
The following presents the net OPEB liability of the City if it were calculated using a discount rate that is
one percentage point lower or one percentage point higher than the current rate, for measurement period
ended June 30, 2019:
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
Balance at June 30, 2019 $ 18,304,030 $ 20,028,771 $ (1,724,741)
Changes in the year:
Service cost 843,905 - 843,905
Interest on the total pension
liability 1,169,182 - 1,169,182
Differences between actual and
expected experience (1,450,926) - (1,450,926)
Changes in assumptions (716,501) - (716,501)
Changes in benefit terms - - -
Contribution - employer - 1,073,623 (1,073,623)
Contribution - employee - - -
Net investment income - 1,244,479 (1,244,479)
Administrative expenses - (6,155) 6,155
Benefit payments , including
refunds of employee
contributions (882,052) (882,052) -
Net changes (1,036,392) 1,429,895 (2,466,287)
Balance at June 30, 2020 $ 17,267,638 $ 21,458,666 $ (4,191,028)
Increase (Decrease)
Current
1% Decrease Discount Rate 1% Increase
(5.25%) (6.25%) (7.25%)
Net OPEB Liability (Asset) $ (1,967,741) (4,191,028)$ (6,016,634)$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
84
11. OTHER POST EMPLOYMENT BENEFITS, Continued
A. City of Dublin Retiree Health Plan, Continued
Sensitivity of the Net OPEB Liability to Changes in the Health Care Cost Trend Rates
The following presents the net OPEB liability of the City if it were calculated using health care cost trend
rates that are one percentage point lower or one percentage point higher than the current rate, for
measurement period ended June 30, 2019:
Recognition of Deferred Outflow and Deferred Inflows of Resources
Gains and losses related to changes in total OPEB liability and fiduciary net position are recognized in
OPEB expense systematically over time. Amounts are first recognized in OPEB expense for the year the
gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of
resources related to OPEB and are to be recognized in future OPEB expense. The recognition period differs
depending on the source of the gain or loss:
OPEB Expense and Deferred Outflows/(Inflows) of Resources Related to OPEB
For the fiscal year ended June 30, 2020, the City recognized OPEB expense of $233,508. For the fiscal year
ended June 30, 2020, the City reported deferred outflows of resources related to OPEB from the following
sources:
Current Healthcare
1% Decrease Trend Rate 1% Increase
(6.25% - 3.0%) (7.25% - 4.0%) (8.25% to 5.0%)
Net OPEB Liability (Asset) $ (6,040,829) (4,191,028)$ (1,995,876)$
Net difference between projected 5 years
and actual earnings on OPEB plan
investments
All other amounts Expected average remaining
service lifetime (EARSL)
(6.5 years at June 30, 2018)
Deferred Outflows
of Resources
Deferred Inflows of
Resources
OPEB contributions subsequent to
measurement date $ 1,116,396 $ -
Differences between actual and expected
experience - 1,227,707
Changes in assumptions - 606,270
Net differences between projected and
actual earnings on plan investments - 446,096
Total 1,116,396$ 2,280,073$
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
85
11. OTHER POST EMPLOYMENT BENEFITS, Continued
A. City of Dublin Retiree Health Plan, Continued
OPEB Expense and Deferred Outflows/(Inflows) of Resources Related to OPEB, Continued
The $1,116,396 reported as deferred outflows of resources related to contributions subsequent to the June
30, 2019 measurement date will be recognized as a reduction of the net OPEB liability during the fiscal year
ending June 30, 2021. Other amounts reported as deferred outflows of resources related to OPEB will be
recognized as expense as follows:
B. Dougherty Regional Fire Authority Health Plan
The City provides certain health care benefits for Dougherty Regional Fire Authority retirees as required
under contract signed with PERS and the dissolution agreement of the Authority. The cost of retiree health
care benefits is recognized as expenditure as premiums are paid. For the year ended June 30, 2020 those cost
totaled $39,867.
12. HEALTH, GENERAL LIABILITY, AND WORKERS’ COMPENSATION COVERAGE
A. Risk Pool
The City participates in the PLAN JPA, a non-profit public benefit corporation established to provide
liability insurance coverage, claims administration and risk management services, and legal defense to its
participating members. The liability insurance coverage is provided by a combination self-insurance
collectively funded by PLAN JPA and the purchase of commercial insurance for large losses.
PLAN JPA provides the first $5 million of coverage as self-funded general liability and automobile liability
coverage per occurrence. PLAN JPA purchases commercial excess liability insurance in two layers of $10
million and $15 million each to provide total coverage of claims up to $30 million per occurrence. The City
has a deductible of $50,000 per occurrence. PLAN JPA also provides $2 million of employee bonds (theft
coverage) in excess of a $10,000 deductible.
Fiscal Year
Ending June 30:
2021 (529,592)$
2022 (527,592)
2023 (391,593)
2024 (331,119)
2025 (333,450)
Thereafter (166,727)
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
86
12. HEALTH, GENERAL LIABILITY, AND WORKERS’ COMPENSATION COVERAGE, Continued
A. Risk Pool, Continued
PLAN JPA also provides property insurance coverage. This coverage also comprises self-insured layer
combined with commercial insurance. The first $100,000 of losses are self-funded by PLAN JPA from
premiums collected from the participants in the program. PLAN JPA purchases an insurance policy to
cover losses above $100,000 per occurrence and the annual aggregate losses of the pool are insured above
$225,000. The insurance provides coverage for property damage among all participants to $1 billion. The
City deductible for property and vehicle losses is $5,000. For any single loss in excess of $25,000 the
deductible is waived.
The City's contributions to the PLAN JPA for liability coverage are based on a formula which considers the
ratio of the City's payroll to the total payrolls of all entities participating in the same layer of each program,
in each program year's loss history and population. Actual surpluses or losses are shared according to a
formula developed from overall loss costs and spread to member entities on a percentage basis after a
retrospective rating.
There have been no significant reductions in any of the City's areas of insurance coverage and no settlement
amounts have exceeded coverage in the past three years. Audited financial information for the PLAN JPA
can be obtained from Bickmore, 1750 Creekside Oaks Drive, Suite 200, Sacramento, CA 95833.
B. Workers’ Compensation Coverage
The City participates in The Cities Group, created by a joint powers agreement (JPA) to provide workers'
compensation coverage paid from the pooled contributions of its membership with no deductible to the
City. Any claim in excess of $1 million is covered up to $10 million through a policy with Safety National
Casualty Corp purchased by The Cities Group. The Cities Group acts as an administrator, claim adjuster
and provides other risk management services as provided by State law. Each member of The Cities Group
pays a premium commensurate with the level of coverage requested and shares surpluses and deficits
proportionately to its participation in The Cities Group. During the year ended June 30, 2020, the City paid
The Cities Group $6,833 in premium. Financial Statements may be obtained from The Cities Group, PO Box
111, Burlingame, CA 94011-0111.
C. Liability for Uninsured Claims
The GASB requires municipalities to record their liability for uninsured claims and reflect the current
portion of this liability as expenditures in their financial statements. As discussed above, the City has
coverage for such claims, but it has retained the risk for the deductible or the uninsured portion of these
claims in the PLAN JPA and The Cities Group plans. GASB Statement No. 10, "Financial Reporting for Risk
Financing and Related Insurance Issues" require that this amount be separately identified and recorded as a
liability.
The City's liability for uninsured claims, limited to general liability and workers compensation claims as
discussed above, includes a provision for incurred but not reported (IBNR) losses. This amount was
estimated based on claims experience. The reserve recorded, $42,372, is adequate to cover IBNR claims.
Therefore no adjustment was made in fiscal year 2019-2020 as the City's exposure is for the $5,000
deductible per general liability claim.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
87
13. JOINT POWERS AGREEMENTS
The City participates in joint ventures discussed below through separate entities established under the Joint
Exercise of Powers Act of the State of California. As separate legal entities, these entities exercise full powers
and authorities within the scope of the related Joint Powers Agreements including the preparation of
annual budgets, accountability for all funds, the power to make and execute contracts and the right to sue and
be sued. Each joint venture is governed by a board consisting of representatives from member
municipalities. Each board controls the operations of the respective joint venture, including selection of
management and approval of operating budgets, independent of any influence by member municipalities
beyond their representation on that board. Obligations and liabilities of these joint ventures are not the City's
responsibility and the City does not have an equity interest in the assets of each joint venture except upon
dissolution of the joint venture.
A. Animal Control Services
The Cities of Dublin, Pleasanton, and Livermore and the County of Alameda have entered a joint powers
agreement, dated September 15, 1992, under which Alameda County constructed an animal shelter facility
on County's property. The agreement provided that the County would retain ownership of the land and
that each participating agencies would receive an equity interest in the facility. Certificates of Participation
were issued to construct the facility. Under the agreement the entities will share in the debt service costs of
the project based upon their use of the animal shelter.
In fiscal year 2019-2020, the City contributed $190,631 or 12.27% toward the annual operating shelter
services and $36,490 representing 3.23% of the animal field service expenditures.
The City has not recorded an equity interest for the animal shelter agreement. As noted above the ongoing
financial interest is limited to the statistics of live animals handled in the appropriate fiscal year. No Joint
Powers Authority was established as part of this agreement therefore, separate financial statements are not
issued.
14. OTHER COMMITMENTS AND CONTINGENT LIABILITIES
The City participates in several Federal and State grant programs. These programs have been audited by the
City's independent accountants in accordance with the provisions of the Federal Single Audit Act and
applicable State requirements. No cost disallowances were proposed as a result of these audits. However,
these programs are still subject to further examination by the grantors and the amount, if any, of
expenditures which may be disallowed by the granting agencies cannot be determined at this time. The City
expects such amounts, if any, to be immaterial.
The City is a defendant in a number of lawsuits that have arisen in the normal course of business, the
outcome of which cannot be predicted with certainty. In the opinion of the City Attorney, these actions
when finally adjudicated will not have a material adverse effect on the financial position of the City.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
88
14. OTHER COMMITMENTS AND CONTINGENT LIABILITIES, Continued
A. Reimbursements to the City of Pleasanton
On January 23, 1996, the City adopted a fee for the purpose of reimbursing the City of Pleasanton for the
costs of making improvements to the interchanges of Interstate 580 at Hacienda Drive and Tassajara
Road/Santa Rita Road that benefit development in both Pleasanton and future development in Eastern
Dublin. The Cities entered into an agreement on November 3, 1998, to allow for an automatic annual
escalator factor in the amount of the fee assessed to developers based upon the LAIF interest rate and to
repay the City of Pleasanton. The amount of the contingent liability outstanding at June 30, 2020, was
$2,788,913 which is net of the $68,636 in payments made by the City to reduce this contingent liability
during the year. The accounting for the amount due is not recorded as indebtedness since future payments
are contingent upon the future collection of development fees assessed for reimbursement of these
improvements.
B. Other Development Agreements
The City entered into several agreements with various developers and merchant builders who are
developing numerous residential and commercial projects throughout the City. The City agreed to grant the
developers' impact fee credits since the developers constructed certain improvements beyond what was
needed to serve their specific projects. The value of credits does not increase for inflation nor do they accrue
interest. Any unused credits may be used by the developers on other projects located within the Traffic
Impact Fee area. The value of the credits as of June 30, 2020 was $109,238,770. The reduction of $2,681,429 to
the credit balance was mainly due to credit used for the fiscal years which was $4,036,540.
C. Alameda County Fire Department (ACFD)
The City of Dublin contracts to have the Alameda County Fire Department to provide fire services. As part
of the contract, the City pays for its share of ACFD's retiree health plan and retirement plan. In 2012 ACFD
began working with CalPERS to create side funds within its OPEB trust to allow for member agencies to
fund their share of the obligation. In preparation for this, in June 2012 the City Council authorized a
contribution of $6.487 million towards the liability that was then moved to a General Fund Reserve, which
was reclassified as an assigned fund balance upon the City's implementation of GASB Statement No. 54.
Since then, the City continued to add funds to that fund balance assignment.
After ACFD successfully implemented the OPEB trust side funds, the City was notified that as of June 30,
2020, the City’s Actuarial Accrued Liability (AAL) for benefits was $12,950,000 and the Actuarial Value of
Plan Asset was $11,744,000 resulting in an Unfunded Actuarial Accrued Liability (UAAL) of $1,206,000.
15. DEBT WITHOUT GOVERNMENT COMMITMENT
On August 31, 2017, the City issued $32,740,000 of City 2017 Improvement Area No. 1 Special Tax Bonds by
and through its Community Facilities District No. 2015-1 (Dublin Crossing) Improvement Area No. 1. The
Bonds are special tax obligations of the City, authorized pursuant to the Mello-Roos Community Facilities
Act of 1982, as amended, being California Government Code Section 53311, et seq. The bonds were issued
to construction and acquire certain public facilities and/or reimburse the payment of fees for capital
improvements.
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2020
89
15. DEBT WITHOUT GOVERNMENT COMMITMENT, Continued
On July 18, 2019 the City issued $37,745,000 of City 2019 Improvement Area No. 2 Special Tax Bonds by and
through its Community Facilities District No. 2015-1 (Dublin Crossing) Improvement Area No. 2. The
Bonds are special tax obligations of the City, authorized pursuant to the Mello-Roos Community Facilities
Act of 1982, as amended, being California Government Code Section 53311, et seq. The bonds were issued
to construction and acquire certain public facilities and/or reimburse the payment of fees for capital
improvements.
The Bonds are not general obligations of the City nor any political subdivision and the full faith and credit
of the City is not pledged for the repayment thereof. Since these debts do not constitute an obligation of the
City and the City is not obligated to make payment beyond the available bond reserves, these bonds have
not been reflected in the long-term debt in the accompanying financial statements. The outstanding
indebtedness on June 30, 2020 was $70,485,000.
16. TAX ABATEMENTS
The City has entered into multiple sales tax reimbursement agreements for the purpose of attracting new
businesses within the City through the construction and improvement of property sites. The City is
expected to make annual reimbursement payments over a five (5) to ten (10) year period in which the
amount of each reimbursement payment commitment is based on total sales tax received and derived using
formulas in the approved agreements.
For financial reporting purposes, the GASB Statement No. 77 defines a tax abatement as resulting from an
agreement between a government and an individual or entity in which the government promises to forgo
tax revenues and the individual or entity promises to subsequently take a specific action that contributes to
economic development or otherwise benefits the government or its citizens. According to GASB Statement
No. 77, the substance of these sales tax reimbursement agreements meets the definition of “tax abatements."
For the fiscal year ended June 30, 2020, under these sales-tax reimbursement agreements, the City has
abatements totaling $137,500.
Pursuant to the Sales and Use Tax law (chapter 8 - Article 1 - section 7056), in order to protect the
confidential information of sales taxes collected and abatements provided to each of the specific agencies,
the City has presented the aggregate amount abated during the current fiscal year.
17. PRIOR PERIOD ADJUSTMENTS
The City recorded a prior period adjustment to remove the net OPEB liability relating to DRFA
previously recorded in error.
Net Position, as Net OPEB Deferred Outflows Net Position, as
Previously Reported Liability of Resources Restated at
at June 30, 2019 related to DRFA related to DRFA June 30, 2020
Government-Wide Statements
Governmental Activities 814,365,409$ 573,269$ (41,888)$ 814,896,790$
Prior Period Adjustments
90
91
REQUIRED
SUPPLEMENTARY INFORMATION
92
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City of Dublin
Required Supplementary Information
For the year ended June 30, 2020
93
1. DEFINED BENEFIT PENSION PLAN
A. Schedule of the City’s Proportionate Share of the Net Pension Liability – Last 10 Years*
B. Schedule of Contributions – Last 10 Years*
Fiscal year: 2020 2019 2018 2017 2016 2015 *
Measurement date: 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 6/30/2014
Proportion of the net pension liability 0.15132% 0.14569% 0.14518% 0.15006% 0.14788% 0.12593%
Proportionate share of the net pension
liability 15,505,908$ 14,038,811$ 14,398,145$ 12,984,969$ 10,150,590$ 7,835,901$
Covered payroll 10,124,753$ 9,753,107$ 10,443,838$ 9,268,029$ 8,463,027$ 8,716,918$
Proportionate Share of the net pension
liability as percentage of covered payroll 153.15.% 143.94.% 137.86.% 140.10.% 119.94.% 89.89.%
Plan fiduciary net position as a percentage
of the total pension liability 75.26.% 75.26.% 73.31.% 74.06.% 78.40.% 79.82.%
Notes to Schedule:
* Fiscal year 2015 was the 1st year of implementation.
Fiscal year 2020 2019 2018 2017 2016 2015 *
Contractually required contribution
(actuarially determined) 1,522,330$ 1,241,065$ 1,018,096$ 988,634$ 869,497$ 1,411,959$
Contribution in relation to the actuarially
determined contributions (1,522,330) (1,241,065) (1,018,096) (1,738,634) (869,497) (1,411,959)
Contribution deficiency (excess)-$ -$ -$ (750,000)$ -$ -$
Covered payroll $ 11,248,715 $ 10,124,753 $ 9,753,107 $ 10,443,838 $ 9,268,029 $ 8,463,027
Contributions as a percentage of covered
payroll 13.53% 12.26% 10.44% 26.79% 22.41% 18.59%
Note to Schedule
Valuation date** 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013 6/30/2012
* Fiscal year 2015 was the 1st year of implementation.
** Date of actuarial valuation used to determine the contractually required contribution.
City of Dublin
Required Supplementary Information
For the year ended June 30, 2020
94
2. OTHER POST EMPLOYMENT BENEFITS (OPEB)
A. City Retiree Health Plan - Schedule of Changes in Net OPEB Liability and Related Ratios During the
Measurement Period – Last 10 Years (1)
(1) Fiscal year 2018 was the 1st year of implementation.
Measurement Period 2019 2018 2017
Total OPEB Liability
Service Cost 843,905$ 852,382$ 827,000$
Interest on the total OPEB liability 1,169,182 1,099,559 1,032,000
Differences between expected and actual experience (1,450,926) - -
Changes of assumptions (716,501) - -
Benefit payments, including refunds of employee contributions (882,052) (776,911) (805,000)
Net change in total OPEB liability (1,036,392) 1,175,030 1,054,000
Total OPEB liability - beginning 18,304,030 17,129,000 16,075,000
Total OPEB liability - ending (a)17,267,638$ 18,304,030$ 17,129,000$
Plan Fiduciary Net Position
Contributions - employer 1,073,623$ 1,588,507$ 1,878,000$
Net investment income 1,244,479 1,431,381 1,665,000
Benefit payments, including refunds of employee contributions (882,052) (776,911) (805,000)
Administrative expense (6,155) (33,206) (8,000)
Net change in plan fiduciary net position 1,429,895 2,209,771 2,730,000
Plan fiduciary net position - beginning 20,028,771 17,819,000 15,089,000
Plan fiduciary net position - ending (b)21,458,666$ 20,028,771$ 17,819,000$
Net OPEB liability/(asset) - ending (a) - (b)(4,191,028)$ (1,724,741)$ (690,000)$
Plan fiduciary net position as a percentage of the total OPEB liability 124.3% 109.4% 104.0%
Covered-employee payroll 10,037,794$ 9,997,000$ 10,431,000$
Net OPEB liability as a percentage of covered-employee payroll -41.8% -17.3% -6.6%
City of Dublin
Required Supplementary Information
For the year ended June 30, 2020
95
2. OTHER POST EMPLOYMENT BENEFITS (OPEB), Continued
B. DRFA Retiree Health Plan - Schedule of Changes in Total OPEB Liability and Related Ratios During
the Measurement Period – Last 10 Years (1)
(1) Fiscal year 2018 was the 1st year of implementation.
C. Schedule of City Retiree Health Plan Contributions – Last 10 Years (1)
(1) Fiscal year 2018 was the 1st year of implementation.
Measurement Period 2019 2018 2017
Total OPEB Liability
Service Cost -$ -$ -$
Interest on the total OPEB liability 21,375 21,087 18,608
Changes in benefit terms - - -
Differences between expected and actual experience (42,037) (2,375) -
Changes of assumptions 8,160 (13,873) (40,627)
Benefit payments, including refunds of employee contributions (41,888) (41,174) (42,587)
Net change in total OPEB liability (54,390) (36,335) (64,606)
Total OPEB liability - beginning 573,269 609,604 674,210
Total OPEB liability - ending (a)518,879$ 573,269$ 609,604$
Covered-employee payroll Not Applicable Not Applicable Not Applicable
Net OPEB liability as a percentage of covered-employee payroll Not Applicable Not Applicable Not Applicable
Fiscal Year Ended June 30 2020 2019 2018
Actuarially Determined Contribution (ADC) 138,000$ 851,000$ 861,000$
Contributions in relation to the ADC (1,116,396) (1,075,930) (1,589,000)
Contribution deficiency (excess) (978,396) (224,930) (728,000)
Covered-employee payroll 10,533,380$ 10,037,794$ 9,997,000$
Contributions as a percentage of covered-employee payroll 10.60% 10.72% 15.89%
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96
SUPPLEMENTARY INFORMATION
97
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98
Schedule of Budget Versus Actual Revenues By Sources
General Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Property taxes:
Current year secured 36,288,609$ 36,698,609$ 37,872,078$ 1,173,469$
Current year unsecured 1,934,792 1,934,792 1,971,750 36,958
Supplemental property tax 1,253,653 1,253,653 1,437,350 183,697
Prior year secured 390,810 390,810 381,783 (9,027)
Prior year unsecured - - (2,533) (2,533)
Property tax penalties - - 126,071 126,071
In lieu property tax 7,006,890 7,256,890 7,299,836 42,946
Sub-total 46,874,754 47,534,754 49,086,335 1,551,581
Taxes other than property:
Sales and use tax 21,227,378 21,227,378 21,032,455 (194,923)
Real property transfer tax 750,000 750,000 632,828 (117,172)
Hotel transient occupancy tax 1,400,000 1,400,000 1,567,987 167,987
Franchise taxes 4,649,400 4,649,400 5,079,508 430,108
Sub-total 28,026,778 28,026,778 28,312,778 286,000
Licenses and permits:
Animal licenses 7,000 7,000 6,074 (926)
Building permits 4,646,546 4,146,546 3,546,120 (600,426)
Business license 130,000 130,000 151,758 21,758
Construction and demolition permits 20,864 20,864 15,949 (4,915)
Encroachment permits 84,500 84,500 36,610 (47,890)
Fire permits 71,055 71,055 54,265 (16,790)
Grading permits 5,000 5,000 10,175 5,175
Planning permits 60,758 60,758 69,033 8,275
Miscellaneous permits 20,092 20,092 14,700 (5,392)
Sub-total 5,045,815 4,545,815 3,904,684 (641,131)
Fines and forfeitures:
Parking citations 72,432 72,432 62,945 (9,487)
Business license penalties 4,000 4,000 - (4,000)
Other court fines 35,000 35,000 22,183 (12,817)
Sub-total 111,432 111,432 85,128 (26,304)
Revenues from use of money and property:
Interest 2,000,000 2,000,000 3,602,131 1,602,131
Internal designated - - 50,314 50,314
Change in fair market value - - 6,433,261 6,433,261
Rents and concessions:
Field and court rentals 185,480 185,480 239,620 54,140
Facility rentals 396,141 396,141 308,894 (87,247)
Leased property 522,506 382,506 425,878 43,372
Sub-total 3,104,127 2,964,127 11,060,098 8,095,971
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
99
Schedule of Budget Versus Actual Revenues By Sources (Continued)
General Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Intergovernmental:
Motor vehicle-in-lieu - - 51,110 51,110
Mandated costs 10,000 10,000 16,617 6,617
Homeowner's property tax relief 224,919 224,919 238,698 13,779
Sub-total 234,919 234,919 306,425 71,506
Charges for services:
General government
Building use insurance 26,816 26,816 19,772 (7,044)
Sales of maps and documents 500 500 95 (405)
Public safety
Police charges for services 39,140 39,140 40,121 981
Fire charges for services 180,000 180,000 289,936 109,936
Santa Rita fire services 764,160 764,160 1,251,744 487,584
Waste mangement
Waste management admin fees 1,030,134 1,030,134 1,306,029 275,895
Environmental programs
EV charges 2,000 2,000 21,725 19,725
Parks and community services
Aquatic programs 1,259,943 1,259,943 753,910 (506,033)
Cemetery 6,222 6,222 1,320 (4,902)
Cultural arts 193,225 193,225 112,581 (80,644)
Family programs 1,329,242 1,329,242 781,084 (548,158)
Community events and festivals 156,325 156,325 45,426 (110,899)
Heritage center 17,650 17,650 8,063 (9,587)
Preschool programs 251,822 251,822 164,227 (87,595)
Recreational activities 300,000 300,000 140,917 (159,083)
Senior programs 92,420 92,420 68,145 (24,275)
Sports programs 773,118 773,118 638,449 (134,669)
Community development
Engineering plan checking 2,892,500 2,892,500 2,114,067 (778,433)
Local share permit surcharge - SMIP 14,332 14,332 17,809 3,477
Local share permit surcharge - Zone 7 drainage fees 17,067 17,067 3,440 (13,627)
Zoning and subdivision fees 722,575 722,575 624,573 (98,002)
Local share permit surcharge - Green building 740 740 920 180
Public works
PFD development services - - 288,456 288,456
Sub-total 10,069,931 10,069,931 8,692,809 (1,377,122)
Budgeted Amounts
City of Dublin
For the year ended June 30, 2020
100
Schedule of Budget Versus Actual Revenues By Sources (Continued)
General Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Developer fees:
Developer fees - - 36,428 36,428
Sub-total - - 36,428 36,428
Other revenues:
Contributions 96,745 97,645 65,600 (32,045)
Sales of property 202,910 202,910 140,470 (62,440)
Miscellaneous 70,000 80,665 138,816 58,151
Reimbursement - general 445,051 636,024 1,012,566 376,542
Reimbursement - public damage - 29,016 30,396 1,380
Reimbursement - community benefit assessment 200,000 641,000 - (641,000)
Sub-total 1,014,706 1,687,260 1,387,848 (299,412)
Total revenues by sources 94,482,462$ 95,175,016$ 102,872,533$ 7,697,517$
Budgeted Amounts
City of Dublin
For the year ended June 30, 2020
101
Schedule of Budget Versus Actual Departmental Expenditures
General Fund
For the year ended June 30, 2020
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
General government:
City council 513,787 516,287 455,832 60,455
City manager 1,322,373 1,322,373 1,405,865 (83,492)
City clerk 593,347 623,347 530,425 92,922
Election 3,120 3,120 1,273 1,847
Human resources 829,472 904,472 747,782 156,690
Insurance 534,766 686,766 688,570 (1,804)
City attorney 927,780 927,780 669,143 258,637
Finance 2,124,795 2,163,145 1,684,163 478,982
Non departmental ISF 1,838,100 3,949,796 1,613,248 2,336,548
Disaster preparedness 148,103 258,103 287,731 (29,628)
Crossing guards 225,842 241,401 168,906 72,495
Animal control 421,653 421,653 227,122 194,531
Waste management 78,896 78,896 48,127 30,769
Community TV 144,135 142,995 118,773 24,222
Economic development 1,240,031 4,284,662 3,887,249 397,413
Public information 364,103 516,461 439,241 77,220
Library services 950,722 950,722 783,480 167,242
Dougherty Regional Fire Authority 701,026 705,523 690,859 14,664
Sub-total 12,962,051 18,697,502 14,447,789 4,249,713
Police:
Police admin/support services 3,505,108 3,769,688 3,388,018 381,670
Patrol 10,303,814 10,039,234 9,313,482 725,752
Traffic 1,186,404 1,186,404 1,475,274 (288,870)
Investigations 2,686,471 2,686,471 3,269,386 (582,915)
Crime prevention/school resource services 1,786,732 1,786,732 1,640,699 146,033
Communications/dispatch 1,395,240 1,500,947 1,254,996 245,951
Police operations support 2,016,930 2,030,117 1,716,232 313,885
Sub-total 22,880,699 22,999,593 22,058,087 941,506
Fire:
Administration 13,820,485 13,820,485 13,398,257 422,228
Fire prevention 486,863 486,863 479,632 7,231
Fire station maintenance 227,225 232,616 191,384 41,232
Sub-total 14,534,573 14,539,964 14,069,273 470,691
City of Dublin
Budgeted Amounts
102
Schedule of Budget Versus Actual Departmental Expenditures (Continued)
General Fund
For the year ended June 30, 2020
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Public works:
Building management 1,817,370 1,695,005 1,566,172 128,833
Public safety complex 272,884 206,264 133,653 72,611
Traffic signals 92,104 160,214 90,426 69,788
Street lighting 28,649 28,649 22,267 6,382
Parks/facilities development 315,831 342,134 327,024 15,110
Public works administration 863,588 1,012,604 966,645 45,959
Street maintenance 42,745 107,988 72,639 35,349
Street sweeping 172,466 228,466 211,284 17,182
Street landscaping 1,713,872 1,816,596 1,426,130 390,466
Street tree maintenance 288,318 288,318 251,564 36,754
Environmental services 683,412 704,112 572,973 131,139
Engineering 3,361,656 3,546,729 2,502,379 1,044,350
Park maintenance 3,963,482 3,963,483 3,772,838 190,645
Sub-total 13,616,377 14,100,562 11,915,994 2,184,568
Parks and community services:
Cultural and special events 1,015,946 1,015,946 682,646 333,300
Heritage Center 512,475 509,352 481,526 27,826
Parks and community services administration 1,234,627 1,287,551 1,197,151 90,400
Shannon Center 1,604,878 1,624,878 1,187,135 437,743
Stager and other facility operations 1,055,220 1,055,220 905,443 149,777
Senior Center 736,838 764,861 676,807 88,054
The Wave 2,732,368 2,785,050 2,005,114 779,936
Sub-total 8,892,352 9,042,858 7,135,822 1,907,036
City of Dublin
Budgeted Amounts
103
Schedule of Budget Versus Actual Departmental Expenditures (Continued)
General Fund
For the year ended June 30, 2020
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Community development:
Planning 2,569,782 2,604,211 1,908,331 695,880
Building and safety 3,474,967 3,509,967 2,716,589 793,378
Sub-total 6,044,749 6,114,178 4,624,920 1,489,258
Total current expenditures 78,930,801 85,494,657 74,251,885 11,242,772
Total expenditures 78,930,801$ 85,494,657$ 74,251,885$ 11,242,772$
Budgeted Amounts
City of Dublin
104
The General Improvements Projects Capital Projects Fund -is used to manage the programming of
funds and activities associated with major Capital Improvements Projects. The fund accumulates
resources for capital expenditures and utilizes those resources to support projects that are general in
nature and are not Streets, Parks, or Community Improvements Projects.
The Parks Projects Capital Projects Fund -is used to manage the programming of funds and
activities associated with major Capital Improvements Projects. The fund accumulates resources for
capital expenditures and utilizes those resources to support projects that would construct, improve,
or enhance the City's parks and facilities.
The Streets Projects Capital Projects Fund -is used to manage the programming of fund and
activities associated with major Capital Improvements Projects. The fund accumulates resources for
capital expenditures and utilizes those resources to support projects that would construct, improve,
or enhance the City's trails, highways, streets, roads, bridges, as well as street lighting and drain
systems.
The Public Facilities Impact Fees Capital Projects Fund - is used to account for fees received from
developers of properties, which can only be used for the design, development and construction of
new public facilities within the City.
The Fire Impact Fees Capital Projects Fund - is used to account for impact fees received from
developers of properties, which can only be used for the design, development and construction of fire
capital expansion projects within the City.
The Traffic Impact Fees Capital Projects Fund - is used to account for impact fees received from
developers of properties, which can only be used for the design, development and construction of
street and highway projects which serve as part of the City's transportation network.
The Dublin Crossing Contribution Capital Projects Fund - accounts for community benefit payments
specific to the Dublin Crossing Project, separate from any developer impact fees generated by the
project.
BUDGETED MAJOR GOVERNMENTAL FUNDS OTHER THAN
GENERAL FUND AND SPECIAL REVENUE FUNDS
105
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106
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
General Improvement Projects Capital Projects Fund
For the year ended June 30, 2020
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
EXPENDITURES:
Capital outlay:
General improvements 3,585,900$ 17,027,307$ 9,828,253$ 7,199,054$
Total expenditures 3,585,900 17,027,307 9,828,253 7,199,054
REVENUES OVER (UNDER) EXPENDITURES (3,585,900) (17,027,307) (9,828,253) 7,199,054
OTHER FINANCING SOURCES (USES):
Transfers in 3,585,900 17,027,307 9,828,253 (7,199,054)
Total other financing sources (uses)3,585,900 17,027,307 9,828,253 (7,199,054)
Net change in fund balance -$ -$ - -$
FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
Budgeted Amounts
107
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Parks Project Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
EXPENDITURES:
Capital outlay:
Parks 8,110,304$ 22,764,916$ 6,180,120$ 16,584,796$
Total expenditures 8,110,304 22,764,916 6,180,120 16,584,796
REVENUES OVER (UNDER) EXPENDITURES (8,110,304) (22,764,916) (6,180,120) 16,584,796
OTHER FINANCING SOURCES (USES):
Transfers in 8,110,304 22,764,916 6,180,120 (16,584,796)
Total other financing sources (uses)8,110,304 22,764,916 6,180,120 (16,584,796)
Net change in fund balance -$ -$ - -$
FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
108
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Streets Projects Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
EXPENDITURES:
Capital outlay:
Streets 14,909,405$ 25,771,220$ 5,488,030$ 20,283,190$
Total expenditures 14,909,405 25,771,220 5,488,030 20,283,190
REVENUES OVER (UNDER) EXPENDITURES (14,909,405) (25,771,220) (5,488,030) 20,283,190
OTHER FINANCING SOURCES (USES):
Transfers in 14,909,405 25,889,229 5,606,039 (20,283,190)
Total other financing sources (uses)14,909,405 25,889,229 5,606,039 (20,283,190)
Net change in fund balance -$ 118,009$ 118,009 -$
FUND BALANCE:
Beginning of year (118,009)
End of year -$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
109
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Public Facilities Impact Fees Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 71,920$ 71,920$ 623,344$ 551,424$
Developer fees 6,593,298 2,429,143 4,730,443 2,301,300
Total revenues 6,665,218 2,501,063 5,353,787 2,852,724
EXPENDITURES:
Current:
Parks and community services - 55,812 48,141 7,671
Debt service:
Principal 1,368,187 1,368,187 1,368,186 1
Total expenditures 1,368,187 1,423,999 1,416,327 7,672
REVENUES OVER (UNDER) EXPENDITURES 5,297,031 1,077,064 3,937,460 2,860,396
OTHER FINANCING SOURCES (USES):
Transfers (out) (5,174,904) (15,044,967) (2,301,523) 12,743,444
Total other financing sources (uses)(5,174,904) (15,044,967) (2,301,523) 12,743,444
Net change in fund balance 122,127$ (13,967,903)$ 1,635,937 15,603,840$
FUND BALANCE:
Beginning of year 23,535,817
End of year 25,171,754$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
110
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Fire Impact Fees Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 2,385$ 2,385$ 3,090$ 705$
Developer fees 187,915 101,016 66,606 (34,410)
Total revenues 190,300 103,401 69,696 (33,705)
EXPENDITURES:
Current:
General government 60,000 100,000 100,000 -
Total expenditures 60,000 100,000 100,000 -
REVENUES OVER (UNDER) EXPENDITURES 130,300 3,401 (30,304) (33,705)
Net change in fund balance 130,300$ 3,401$ (30,304) (33,705)$
FUND BALANCE:
Beginning of year 180,037
End of year 149,733$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
111
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Traffic Impact Fees Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 204,147$ 204,147$ 526,154$ 322,007$
Developer fees 3,545,487 1,211,450 1,754,821 543,371
Total revenues 3,749,634 1,415,597 2,280,975 865,378
EXPENDITURES:
Current:
General government 500,000 3,498,404 2,846,599 651,805
Public works - 67,758 26,083 41,675
Total expenditures 500,000 3,566,162 2,872,682 693,480
REVENUES OVER (UNDER) EXPENDITURES 3,249,634 (2,150,565) (591,707) 1,558,858
OTHER FINANCING SOURCES (USES):
Transfers (out) (9,890,241) (11,205,243) (1,010,824) 10,194,419
Total other financing sources (uses)(9,890,241) (11,205,243) (1,010,824) 10,194,419
Net change in fund balance (6,640,607)$ (13,355,808)$ (1,602,531) 11,753,277$
FUND BALANCE:
Beginning of year 28,638,901
End of year 27,036,370$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
112
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Dublin Crossing Contribution Capital Project Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 83,119$ 83,119$ 172,432$ 89,313$
Other revenues 1,000,000 1,000,000 - (1,000,000)
Total revenues 1,083,119 1,083,119 172,432 (910,687)
OTHER FINANCING SOURCES (USES):
Transfers (out) - (3,500,724) (3,500,724) -
Total other financing sources (uses)- (3,500,724) (3,500,724) -
Net change in fund balance 1,083,119$ (2,417,605)$ (3,328,292) (910,687)$
FUND BALANCE:
Beginning of year 10,598,599
End of year 7,270,307$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
113
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114
Public Safety
Special Criminal Activity established to account for receipt of funds derived from asset forfeitures.
Vehicle Abatement established to account for the use of funds received from vehicle registration of Dublin
residents for the towing of abandoned vehicles in city limits.
Supplemental Law Enforcement (SLES/COPS)established to account for police expenditures funded by a State
grant.
Traffic Safety established to account for the receipt of traffic fines and traffic safety expenditures.
Federal Asset seizure established to account for the receipts and expenditures of the Federal seizure funds.
Emergency Medical Services (EMS)established to account for excise taxes received to fund the costs of
providing Emergency Medical Services.
Enforcement Grants established to account for miscellaneous grants received for police expenditures not
reported in the above funds.
Transportation:
State Gas Tax established to account for the receipt of state gasoline taxes and expenditures.
Measure B Sales Tax - Local Streets established to account for an Alameda County voter sales tax used for
improvements on streets and roads.
Measure B Sales Tax - Bike/Pedestrian established to account for an Alameda County voter approved increase
in sales tax used for bike and pedestrian related projects.
Measure B Grants established to account for transportation projects financed by grants, funded by an Alameda
County voter approved increase in sales tax.
Measure BB Sales Tax - Streets and Roads established to account for an Alameda County voter approved
increase in sales tax used for improvements on streets and roads.
Measure BB Sales Tax - Bike/Pedestrian established to account for Alameda County voter approved increase in
sales tax used for bike and pedestrian related projects.
Transportation Fund for Clean Air (TFCA)established to account for a portion of vehicle registration fee used
for achieving the reduction of motor vehicle emissions.
Road Maintenance & Rehabilitation Account (RMRA)established to account for Senate Bill 1 that increases
gasoline and diesel taxes and vehicle registration fees to fund for basic road maintenance, rehabilitation, and
critical safety projects on local streets and roads.
NON-MAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than major capital
projects) that are legally restricted to expenditures for specific purposes.
115
ACTC Vehicle Registration Fee established to account for an Alameda County Transportation Commission
(ACTC) voter approved increase in vehicle registration fee that is distributed by ACTC to be used for street road
system maintenance.
TDA established to account for the financial activities associated with allocations funded by the State of
California Transportation Development Act (TDA) for the Pedestrian/Bicycle Projects.
Environmental:
Garbage/Recycling established to account for the following activities:
Measure D Recycling established to account for the use of funds received which are levied by the County
pursuant to a charter amendment and are provided for recycling and related activities. This fund also
accounts for other locally derived funds for recycling related activities.
Garbage Service established to account for the use of funds received which are levied by the county on behalf
of the City for garbage pitch-up and removal and recycling services.
Local Recycling established to account for locally derived funds collected for a commercial organic and
recycling program and activities retained by the City at the end of the franchise held by Waste Management
Inc. These funds are independent of the funds distributed by Stop Waste pursuant to the Alameda County
Recycling Measure.
AVI Economic Benefit/business Assistance Program established to account for the grant received from Amador
Valley Industry and to provide business owners funding for eligible environmental related improvements.
Storm Water Management established to account for the following activities:
Storm Water Management established to account for the funds received from the State and designated
specifically for the use of storm water related activities.
Village Parkway Storm Water Management established to account for funds designated for management of
the Village Parkway area storm water units.
Box Culvert established to account for the funds designated for the maintenance and repairs of box culvert in
the East Dublin area.
SPECIAL REVENUE FUNDS, Continued
NON-MAJOR GOVERNMENTAL FUNDS
116
Parks, Cultural, and Arts:
Public Art established to account for the fees received from developers of properties, which can only be used for
the purchase design, development, and construction of Public Art projects within the City of Dublin.
Miscellaneous Special Revenue established to account for the following activities:
Cable TV Facilities established to account for Cable TV Facilities fees collected from Cable Television
providers and passed through to the City for local cable television as allowed under State and Federal
franchising laws.
Noise Mitigation established to account for the fees received from developers of properties, which can only
be used for the noise mitigation measures.
Citywide Events (Customer Service) Fund established to account for event ticket sales and donations, to be
spent on special events citywide.
Community Development Block Grant (CDBG)used to account for grants and expenditures related to
Community Development Block Grants received.
HCD Housing Related Parks Grant established to account for a Housing-Related Park (HRP) Grant funding
from the Department of Housing and Community Development pursuant to the Housing and Emergency
Shelter Trust Fund Act of 2006 (Proposition IC.)
State Grant Park used to account for local assistance grant funding from the State for park constructions.
COVID-19 Grants established to account for the use of funds received from the Federal Coronavirus Aid, Relief
and Economic Security (CARES) Act to provide funding for necessary expenses incurred due to the COVID-19
public health emergency.
Federal COVID-19 Financial Assistance established to account for the use of funds from an East Bay
Community Energy Grant to provide funding for rental assistance for lower income households impacted by
COVID-19.
Maintenance Districts established to account for revenue and related expenditures of lighting and landscape
districts.
SPECIAL REVENUE FUNDS, Continued
NON-MAJOR GOVERNMENTAL FUNDS
117
City of Dublin
Combining Balance Sheet
Governmental Funds
June 30, 2020
Special Supplemental
Criminal Vehicle Law Traffic Federal Asset
Activity Abatement Enforcement Safety Seizure
ASSETS
Cash and investments 429,287$ 215,138$ 155,792$ 67,264$ 642$
Accounts receivable - 17,169 - 6,118 -
Notes receivable - - - - -
Prepaids - - - - -
Total assets 429,287 232,307 155,792 73,382 642
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable 1,751 - - 12,115 -
Deposits payable 399,151 - - - -
Contract retention payable - - - - -
Unearned revenue - - - - -
Due to other funds - - - - -
Total liabilities 400,902 - - 12,115 -
Fund Balances:
Nonspendable - - - - -
Restricted:
Public safety programs 28,385 232,307 155,792 61,267 642
Street maintenance and construction - - - - -
Health and welfare programs - - - - -
Culture and leisure - - - - -
Capital improvement projects - - - - -
Unassigned - - - - -
Total fund balances 28,385 232,307 155,792 61,267 642
Total liabilities, deferred inflows of
resources, and fund balances 429,287$ 232,307$ 155,792$ 73,382$ 642$
Special Revenue Funds
118
Emergency Measure B Measure B Measure BB
Medical Enforcement Sales Tax Sales Tax Measure B Sales Tax
Services Grants State Gas Tax Local Streets Bike/Pedestrian Grants Streets and Roads
223,317$ 132,994$ 2,572,424$ 211,832$ 170,410$ -$ 391,482$
968 - - 95,538 34,744 271,109 85,615
- - - - - - -
- - - - - - -
224,285 132,994 2,572,424 307,370 205,154 271,109 477,097
46,065 - 58,732 - 2,500 - -
- - - - - - -
- - 821 - - - -
- - - - - - -
- - - - - 86,522 -
46,065 - 59,553 - 2,500 86,522 -
- - - - - - -
178,220 132,994 - - - - -
- - 2,512,871 307,370 202,654 184,587 477,097
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
178,220 132,994 2,512,871 307,370 202,654 184,587 477,097
224,285$ 132,994$ 2,572,424$ 307,370$ 205,154$ 271,109$ 477,097$
Special Revenue Funds
119
City of Dublin
Combining Balance Sheet
Governmental Funds
June 30, 2020
ACTC
Measure BB Transportation Road Maint & Vehicle
Sales Tax for Clean Air Rehab Account Registration
Bike/Pedestrian (TFCA) (RMRA) Fee TDA
ASSETS
Cash and investments 169,782$ -$ 895,687$ 239,480$ -$
Accounts receivable 28,309 - 170,796 51,206 -
Notes receivable - - - - -
Prepaids - - - - -
Total assets 198,091 - 1,066,483 290,686 -
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable - - - 6,130 -
Deposits payable - - - - -
Contract retention payable - - - - -
Unearned revenue - - - - -
Due to other funds - - - - 71,773
Total liabilities - - - 6,130 71,773
Fund Balances:
Nonspendable - - - - -
Restricted:
Public safety programs - - - - -
Street maintenance and construction 198,091 - 1,066,483 284,556 -
Health and welfare programs - - - - -
Culture and leisure - - - - -
Capital improvement projects - - - - -
Unassigned - - - - (71,773)
Total fund balances 198,091 - 1,066,483 284,556 (71,773)
Total liabilities, deferred inflows of
resources, and fund balances 198,091$ -$ 1,066,483$ 290,686$ -$
Special Revenue Funds
120
AVI Economic
Benefit/Business Storm Miscellaneous Community
Garbage/ Assistance Water Box Special Development
Recycling Program Management Culvert Public Art Revenue Block Grant
1,005,541$ -$ 241,787$ 388,625$ 4,154,129$ 272,958$ -$
98,463 - - - - 34,934 43,554
- 519,461 - - - - -
- - - - - - -
1,104,004 519,461 241,787 388,625 4,154,129 307,892 43,554
18,634 15,151 - - - - 2,936
- - - - - 2,299 -
- - - - - - -
22,972 - - - - - -
- 26,646 - - - - 40,618
41,606 41,797 - - - 2,299 43,554
- - - - - - -
- - - - - - -
- - 241,787 388,625 - - -
1,062,398 - - - - 20,427 -
- 477,664 - - - 285,166 -
- - - - 4,154,129 - -
- - - - - - -
1,062,398 477,664 241,787 388,625 4,154,129 305,593 -
1,104,004$ 519,461$ 241,787$ 388,625$ 4,154,129$ 307,892$ 43,554$
Special Revenue Funds
121
City of Dublin
Combining Balance Sheet
Governmental Funds
June 30, 2020
Federal
COVID-19 1983-1 1983-2
State Grant COVID-19 Financial Street Stagecoach
Park Grants Assistance Lighting Landscape
ASSETS
Cash and investments -$ -$ 3,452$ 498,989$ 262,372$
Accounts receivable 980,534 - - 1,989 -
Notes receivable - - - - -
Prepaids - 25,000 - - -
Total assets 980,534 25,000 3,452 500,978 262,372
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable - 25,000 - 20,074 8,099
Deposits payable - - - - -
Contract retention payable - - - - -
Unearned revenue - - - - -
Due to other funds 1,334,704 - 57,363 - -
Total liabilities 1,334,704 25,000 57,363 20,074 8,099
Fund Balances:
Nonspendable - 25,000 - - -
Restricted:
Public safety programs - - - - -
Street maintenance and construction - - - 480,904 254,273
Health and welfare programs - - - - -
Culture and leisure - - - - -
Capital improvement projects - - - - -
Unassigned (354,170) (25,000) (53,911) - -
Total fund balances (354,170) - (53,911) 480,904 254,273
Total liabilities, deferred inflows of
resources, and fund balances 980,534$ 25,000$ 3,452$ 500,978$ 262,372$
Special Revenue Funds
Maintenance Districts
122
1986-1 1997-1 1999-1 Dublin Total Nonmajor
Dougherty Santa Rita East Dublin Crossing Governmental
Landscape Landscape Street Lighting CFD No. 2017-1 Funds
453,655$ 1,023,696$ 1,150,169$ 166,716$ 15,497,620$
210 6,766 1,609 180 1,929,811
- - - - 519,461
- - - - 25,000
453,865 1,030,462 1,151,778 166,896 17,971,892
9,096 37,225 22,148 - 285,656
- - - - 401,450
- - - - 821
- - - - 22,972
- - - - 1,617,626
9,096 37,225 22,148 - 2,328,525
- - - - 25,000
- - - - 789,607
444,769 993,237 1,129,630 166,896 9,333,830
- - - - 1,082,825
- - - - 762,830
- - - - 4,154,129
- - - - (504,854)
444,769 993,237 1,129,630 166,896 15,643,367
453,865$ 1,030,462$ 1,151,778$ 166,896$ 17,971,892$
Special Revenue Funds
Maintenance Districts
123
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
For the year ended June 30, 2020
Special Supplemental
Criminal Vehicle Law Traffic Federal Asset
Activity Abatement Enforcement Safety Seizure
REVENUES:
Intergovernmental -$ 43,169$ 155,948$ -$ -$
Charges for service - - - - -
Interest 787 4,611 2,862 2,450 13
Fines and forfeitures - - - 111,712 -
Developer fees - - - - -
Other revenue 14,609 - - - -
Special assessments - - - - -
Total revenues 15,396 47,780 158,810 114,162 13
EXPENDITURES:
Current:
General Government - - - - -
Police 16,601 - 100,000 - -
Fire - - - - -
Public works - - - 209,142 -
Park and community services - - - - -
Total expenditures 16,601 - 100,000 209,142 -
REVENUES OVER (UNDER) EXPENDITURES (1,205) 47,780 58,810 (94,980) 13
OTHER FINANCING SOURCES (USES):
Transfers (out) - (24,215) - - -
Total other financing sources (uses)- (24,215) - - -
Net change in fund balances (1,205) 23,565 58,810 (94,980) 13
FUND BALANCES (DEFICITS):
Beginning of year 29,590 208,742 96,982 156,247 629
End of year 28,385$ 232,307$ 155,792$ 61,267$ 642$
Special Revenue Funds
124
Measure BB
Emergency Measure B Measure B Sales Tax
Medical Enforcement Sales Tax Sales Tax Bike Measure B Streets and
Services Grants State Gas Tax Local Streets /Pedestrian Grants Roads
-$ 33,466$ 1,393,603$ 577,055$ 209,866$ 184,587$ 516,735$
- - - - - - -
3,733 2,240 54,698 8,944 4,086 - 7,848
- - - - - - -
- - - - - - -
- - 220 - - - -
203,886 - - - - - -
207,619 35,706 1,448,521 585,999 213,952 184,587 524,583
- - - - - - -
- 2,486 - - - - -
175,640 - - - - - -
- - 588,858 - 7,578 - -
- - - - - - -
175,640 2,486 588,858 - 7,578 - -
31,979 33,220 859,663 585,999 206,374 184,587 524,583
- - (1,073,596) (822,068) (319,885) - (354,100)
- - (1,073,596) (822,068) (319,885) - (354,100)
31,979 33,220 (213,933) (236,069) (113,511) 184,587 170,483
146,241 99,774 2,726,804 543,439 316,165 - 306,614
178,220$ 132,994$ 2,512,871$ 307,370$ 202,654$ 184,587$ 477,097$
Special Revenue Funds
125
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
For the year ended June 30, 2020
Measure BB ACTC
Sales Tax Transportation Road Maint & Vehicle
Bike/ for Clean Air Rehab Account Registration
Pedestrian (TFCA) (RMRA) Fee TDA
REVENUES:
Intergovernmental 170,864$ -$ 1,118,465$ 289,579$ -$
Charges for service - - - - -
Interest 3,388 - 15,049 5,477 -
Fines and forfeitures - - - - -
Developer fees - - - - -
Other revenue - - 72,599 - -
Special assessments - - - - -
Total revenues 174,252 - 1,206,113 295,056 -
EXPENDITURES:
Current:
General Government - - - - -
Police - - - - -
Fire - - - - -
Public works - - - 205,986 -
Park and community services - - - - -
Total expenditures - - - 205,986 -
REVENUES OVER (UNDER) EXPENDITURES 174,252 - 1,206,113 89,070 -
OTHER FINANCING SOURCES (USES):
Transfers (out) (181,041) (344) (815,044) (51,737) (72,503)
Total other financing sources (uses)(181,041) (344) (815,044) (51,737) (72,503)
Net change in fund balances (6,789) (344) 391,069 37,333 (72,503)
FUND BALANCES (DEFICITS):
Beginning of year 204,880 344 675,414 247,223 730
End of year 198,091$ -$ 1,066,483$ 284,556$ (71,773)$
Special Revenue Funds
126
AVI Economic
Benefit/Business Storm Miscellaneous Community
Garbage/ Assistance Water Box Special Development
Recycling Program Management Culvert Public Art Revenue Block Grant
236,501$ -$ -$ -$ -$ -$ 105,195$
5,508,322 - - - - 144,091 -
23,011 8,203 4,949 7,757 93,142 4,314 -
- - - - - - -
- - - - 9,305 1,634 -
- 100,000 - - - - -
- - - - - - -
5,767,834 108,203 4,949 7,757 102,447 150,039 105,195
5,503,129 47,063 - - - 30,192 105,195
- - - - - - -
- - - - - - -
75,462 - 10,000 - - - -
- - - - 44,312 - -
5,578,591 47,063 10,000 - 44,312 30,192 105,195
189,243 61,140 (5,051) 7,757 58,135 119,847 -
- - - - (574,737) - -
- - - - (574,737) - -
189,243 61,140 (5,051) 7,757 (516,602) 119,847 -
873,155 416,524 246,838 380,868 4,670,731 185,746 -
1,062,398$ 477,664$ 241,787$ 388,625$ 4,154,129$ 305,593$ -$
Special Revenue Funds
127
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
For the year ended June 30, 2020
Federal
COVID-19 1983-1 1983-2
State Grant COVID-19 Financial Street Stagecoach
Park Grants Assistance Lighting Landscape
REVENUES:
Intergovernmental 980,534$ -$ -$ -$ -$
Charges for service - - - - -
Interest - - - 8,342 4,486
Fines and forfeitures - - - - -
Developer fees - - - - -
Other revenue - - - - -
Special assessments - - - 313,740 99,901
Total revenues 980,534 - - 322,082 104,387
EXPENDITURES:
Current:
General Government - - 53,911 - -
Police - - - - -
Fire - - - - -
Public works - - - 216,697 59,039
Park and community services - - - - -
Total expenditures - - 53,911 216,697 59,039
REVENUES OVER (UNDER) EXPENDITURES 980,534 - (53,911) 105,385 45,348
OTHER FINANCING SOURCES (USES):
Transfers (out) (1,334,704) - - - -
Total other financing sources (uses)(1,334,704) - - - -
Net change in fund balances (354,170) - (53,911) 105,385 45,348
FUND BALANCES (DEFICITS):
Beginning of year - - - 375,519 208,925
End of year (354,170)$ -$ (53,911)$ 480,904$ 254,273$
Maintenance Districts
Special Revenue Funds
128
1986-1 1997-1 1999-1 Dublin Total Nonmajor
Dougherty Santa Rita East Dublin Crossing Governmental
Landscape Landscape Street Lighting CFD No. 2017-1 Funds
-$ -$ -$ -$ 6,015,567$
- - - - 5,652,413
8,095 17,846 21,382 2,166 319,879
- - - - 111,712
- - - - 10,939
- - - - 187,428
133,125 368,560 307,797 96,247 1,523,256
141,220 386,406 329,179 98,413 13,821,194
- - - - 5,739,490
- - - - 119,087
- - - - 175,640
83,202 217,007 204,190 1,895 1,879,056
- - - - 44,312
83,202 217,007 204,190 1,895 7,957,585
58,018 169,399 124,989 96,518 5,863,609
- - (2,126) - (5,626,100)
- - (2,126) - (5,626,100)
58,018 169,399 122,863 96,518 237,509
386,751 823,838 1,006,767 70,378 15,405,858
444,769$ 993,237$ 1,129,630$ 166,896$ 15,643,367$
Maintenance Districts
Special Revenue Funds
129
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Special Criminal Activity Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 644$ 644$ 787$ 143$
Other revenues - - 14,609 14,609
Total revenues 644 644 15,396 14,752
EXPENDITURES:
Current:
Police - 44,415 16,601 27,814
Total expenditures - 44,415 16,601 27,814
REVENUES OVER (UNDER) EXPENDITURES 644 (43,771) (1,205) 42,566
Net change in fund balance 644$ (43,771)$ (1,205) 42,566$
FUND BALANCE:
Beginning of year 29,590
End of year 28,385$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
130
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Vehicle Abatement Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 34,000$ 34,000$ 43,169$ 9,169$
Interest 6,106 6,106 4,611 (1,495)
Total revenues 40,106 40,106 47,780 7,674
OTHER FINANCING SOURCES (USES):
Transfers (out) - (75,000) (24,215) 50,785
Total other financing sources (uses)- (75,000) (24,215) 50,785
Net change in fund balance 40,106$ (34,894)$ 23,565 58,459$
FUND BALANCE:
Beginning of year 208,742
End of year 232,307$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
131
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Supplemental Law Enforcement Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 100,000$ 100,000$ 155,948$ 55,948$
Interest 73 73 2,862 2,789
Total revenues 100,073 100,073 158,810 58,737
EXPENDITURES:
Current:
Police 100,000 100,000 100,000 -
Total expenditures 100,000 100,000 100,000 -
REVENUES OVER (UNDER) EXPENDITURES 73 73 58,810 58,737
Net change in fund balance 73$ 73$ 58,810 58,737$
FUND BALANCE:
Beginning of year 96,982
End of year 155,792$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
132
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Traffic Safety Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 1,588$ 1,588$ 2,450$ 862$
Fines and forfeitures 160,000 160,000 111,712 (48,288)
Total revenues 161,588 161,588 114,162 (47,426)
EXPENDITURES:
Current:
Public works 302,092 303,689 209,142 94,547
Total expenditures 302,092 303,689 209,142 94,547
REVENUES OVER (UNDER) EXPENDITURES (140,504) (142,101) (94,980) 47,121
Net change in fund balance (140,504)$ (142,101)$ (94,980) 47,121$
FUND BALANCE:
Beginning of year 156,247
End of year 61,267$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
133
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Federal Asset Seizure Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest -$ -$ 13$ 13$
Total revenues - - 13 13
EXPENDITURES:
Current:
Police - 2,602 - 2,602
Total expenditures - 2,602 - 2,602
REVENUES OVER (UNDER) EXPENDITURES - (2,602) 13 2,615
Net change in fund balance -$ (2,602)$ 13 2,615$
FUND BALANCE:
Beginning of year 629
End of year 642$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
134
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Emergency Medical Services Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest -$ -$ 3,733$ 3,733$
Special assessments 200,089 200,089 203,886 3,797
Total revenues 200,089 200,089 207,619 7,530
EXPENDITURES:
Current:
Fire 191,779 191,779 175,640 16,139
Total expenditures 191,779 191,779 175,640 16,139
REVENUES OVER (UNDER) EXPENDITURES 8,310 8,310 31,979 23,669
Net change in fund balance 8,310$ 8,310$ 31,979 23,669$
FUND BALANCE:
Beginning of year 146,241
End of year 178,220$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
135
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Enforcement Grants Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ 50,000$ 33,466$ (16,534)$
Interest 44 44 2,240 2,196
Total revenues 44 50,044 35,706 (14,338)
EXPENDITURES:
Current:
Police - 50,000 2,486 47,514
Total expenditures - 50,000 2,486 47,514
REVENUES OVER (UNDER) EXPENDITURES 44 44 33,220 33,176
Net change in fund balance 44$ 44$ 33,220 33,176$
FUND BALANCE:
Beginning of year 99,774
End of year 132,994$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
136
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
State Gas Tax Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 1,578,330$ 1,578,330$ 1,393,603$ (184,727)$
Interest 17,300 17,300 54,698 37,398
Other revenues - - 220 220
Total revenues 1,595,630 1,595,630 1,448,521 (147,109)
EXPENDITURES:
Current:
Public works 679,692 728,718 588,858 139,860
Total expenditures 679,692 728,718 588,858 139,860
REVENUES OVER (UNDER) EXPENDITURES 915,938 866,912 859,663 (7,249)
OTHER FINANCING SOURCES (USES):
Transfers (out) (1,769,833) (3,592,111) (1,073,596) 2,518,515
Total other financing sources (uses)(1,769,833) (3,592,111) (1,073,596) 2,518,515
Net change in fund balance (853,895)$ (2,725,199)$ (213,933) 2,511,266$
FUND BALANCE:
Beginning of year 2,726,804
End of year 2,512,871$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
137
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure B Sales Tax Local Streets Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 500,000$ 500,000$ 577,055$ 77,055$
Interest 354 354 8,944 8,590
Total revenues 500,354 500,354 585,999 85,645
OTHER FINANCING SOURCES (USES):
Transfers (out) (506,640) (915,675) (822,068) 93,607
Total other financing sources (uses)(506,640) (915,675) (822,068) 93,607
Net change in fund balance (6,286)$ (415,321)$ (236,069) 179,252$
FUND BALANCE:
Beginning of year 543,439
End of year 307,370$
-
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
138
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure B Sales Tax Bike / Pedestrian Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 170,000$ 170,000$ 209,866$ 39,866$
Interest 875 875 4,086 3,211
Total revenues 170,875 170,875 213,952 43,077
EXPENDITURES:
Current:
Public works 17,961 17,961 7,578 10,383
Total expenditures 17,961 17,961 7,578 10,383
REVENUES OVER (UNDER) EXPENDITURES 152,914 152,914 206,374 53,460
OTHER FINANCING SOURCES (USES):
Transfers (out) (123,000) (412,782) (319,885) 92,897
Total other financing sources (uses)(123,000) (412,782) (319,885) 92,897
Net change in fund balance 29,914$ (259,868)$ (113,511) 146,357$
FUND BALANCE:
Beginning of year 316,165
End of year 202,654$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
139
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure B Grants Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ -$ 184,587$ 184,587$
Total revenues - - 184,587 184,587
OTHER FINANCING SOURCES (USES):
Transfers (out) - (8,965) - 8,965
Total other financing sources (uses)- (8,965) - 8,965
Net change in fund balance -$ (8,965)$ 184,587 193,552$
FUND BALANCE:
Beginning of year -
End of year 184,587$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
140
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure BB Sales Tax Streets and Roads Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 450,000$ 450,000$ 516,735$ 66,735$
Interest 1,355 1,355 7,848 6,493
Total revenues 451,355 451,355 524,583 73,228
OTHER FINANCING SOURCES (USES):
Transfers (out) (442,000) (639,619) (354,100) 285,519
Total other financing sources (uses)(442,000) (639,619) (354,100) 285,519
Net change in fund balance 9,355$ (188,264)$ 170,483 358,747$
FUND BALANCE:
Beginning of year 306,614
End of year 477,097$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
141
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure BB Sales Tax Bike / Pedestrian Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 140,000$ 140,000$ 170,864$ 30,864$
Interest 2,041 2,041 3,388 1,347
Total revenues 142,041 142,041 174,252 32,211
OTHER FINANCING SOURCES (USES):
Transfers (out) (120,000) (273,541) (181,041) 92,500
Total other financing sources (uses)(120,000) (273,541) (181,041) 92,500
Net change in fund balance 22,041$ (131,500)$ (6,789) 124,711$
FUND BALANCE:
Beginning of year 204,880
End of year 198,091$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
142
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Transportation for Clean Air (TFCA) Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ 146,000$ -$ (146,000)$
Total revenues - 146,000 - (146,000)
OTHER FINANCING SOURCES (USES):
Transfers (out) (345) (146,345) (344) 146,001
Total other financing sources (uses)(345) (146,345) (344) 146,001
Net change in fund balance (345)$ (345)$ (344) 1$
FUND BALANCE:
Beginning of year 344
End of year -$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
143
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Road Maintenance & Rehabilitation Account (RMRA) Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 1,046,742$ 1,046,742$ 1,118,465$ 71,723$
Interest 5,902 5,902 15,049 9,147
Other revenues 71,317 71,317 72,599 1,282
Total revenues 1,123,961 1,123,961 1,206,113 82,152
OTHER FINANCING SOURCES (USES):
Transfers in 67,853 67,853 - (67,853)
Transfers (out) (1,118,059) (1,598,013) (815,044) 782,969
Total other financing sources (uses)(1,050,206) (1,530,160) (815,044) 715,116
Net change in fund balance 73,755$ (406,199)$ 391,069 797,268$
FUND BALANCE:
Beginning of year 675,414
End of year 1,066,483$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
144
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
ACTC Vehicle Registration Fee Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 250,000$ 250,000$ 289,579$ 39,579$
Interest 1,819 1,819 5,477 3,658
Total revenues 251,819 251,819 295,056 43,237
EXPENDITURES:
Current:
Public works 205,986 205,986 205,986 -
Total expenditures 205,986 205,986 205,986 -
REVENUES OVER (UNDER) EXPENDITURES 45,833 45,833 89,070 43,237
OTHER FINANCING SOURCES (USES):
Transfers (out) (181,200) (216,744) (51,737) 165,007
Total other financing sources (uses)(181,200) (216,744) (51,737) 165,007
Net change in fund balance (135,367)$ (170,911)$ 37,333 208,244$
FUND BALANCE:
Beginning of year 247,223
End of year 284,556$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
145
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
TDA Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ 210,000$ -$ (210,000)$
Total revenues - 210,000 - (210,000)
OTHER FINANCING SOURCES (USES):
Transfers (out) (730) (210,730) (72,503) 138,227
Total other financing sources (uses)(730) (210,730) (72,503) 138,227
Net change in fund balance (730)$ (730)$ (72,503) (71,773)$
FUND BALANCE:
Beginning of year 730
End of year (71,773)$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
146
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Garbage / Recycling Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 210,100$ 210,100$ 236,501$ 26,401$
Charges for services 4,759,988 5,490,347 5,508,322 17,975
Interest 6,401 6,401 23,011 16,610
Other revenues 1,000 1,000 - (1,000)
Total revenues 4,977,489 5,707,848 5,767,834 59,986
EXPENDITURES:
Current:
General government 4,777,232 5,507,591 5,503,129 4,462
Public works 284,150 209,041 75,462 133,579
Total expenditures 5,061,382 5,716,632 5,578,591 138,041
REVENUES OVER (UNDER) EXPENDITURES (83,893) (8,784) 189,243 198,027
OTHER FINANCING SOURCES (USES):
Transfers (out) - (170,306) - 170,306
Total other financing sources (uses)- (170,306) - 170,306
Net change in fund balance (83,893)$ (179,090)$ 189,243 368,333$
FUND BALANCE:
Beginning of year 873,155
End of year 1,062,398$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
147
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
AVI Economic Benefit / Business Assistance Program Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest -$ -$ 8,203$ 8,203$
Other revenues 100,000 100,000 100,000 -
Special assessments - - - -
Total revenues 100,000 100,000 108,203 8,203
EXPENDITURES:
Current:
General government 100,000 619,461 47,063 572,398
Total expenditures 100,000 619,461 47,063 572,398
REVENUES OVER (UNDER) EXPENDITURES - (519,461) 61,140 580,601
Net change in fund balance -$ (519,461)$ 61,140 580,601$
FUND BALANCE:
Beginning of year 416,524
End of year 477,664$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
148
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Storm Water Management Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 2,970$ 2,970$ 4,949$ 1,979$
Total revenues 2,970 2,970 4,949 1,979
EXPENDITURES:
Current:
Public works 12,040 12,040 10,000 2,040
Total expenditures 12,040 12,040 10,000 2,040
REVENUES OVER (UNDER) EXPENDITURES (9,070) (9,070) (5,051) 4,019
Net change in fund balance (9,070)$ (9,070)$ (5,051) 4,019$
FUND BALANCE:
Beginning of year 246,838
End of year 241,787$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
149
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Box Culvert Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 5,011$ 5,011$ 7,757$ 2,746$
Total revenues 5,011 5,011 7,757 2,746
Net change in fund balance 5,011$ 5,011$ 7,757 2,746$
FUND BALANCE:
Beginning of year 380,868
End of year 388,625$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
150
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Public Art Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 33,650$ 33,650$ 93,142$ 59,492$
Developer fees - - 9,305 9,305
Total revenues 33,650 33,650 102,447 68,797
EXPENDITURES:
Current:
Parks and community services 53,500 80,190 44,312 35,878
Total expenditures 53,500 80,190 44,312 35,878
REVENUES OVER (UNDER) EXPENDITURES (19,850) (46,540) 58,135 104,675
OTHER FINANCING SOURCES (USES):
Transfers (out) (335,400) (1,184,635) (574,737) 609,898
Total other financing sources (uses)(335,400) (1,184,635) (574,737) 609,898
Net change in fund balance (355,250)$ (1,231,175)$ (516,602) 714,573$
FUND BALANCE:
Beginning of year 4,670,731
End of year 4,154,129$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
151
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Misellaneous Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Charges for services 183,000$ 183,000$ 144,091$ (38,909)$
Interest 3,479 3,479 4,314 835
Developer fees 1,583 1,583 1,634 51
Total revenues 188,062 188,062 150,039 (38,023)
EXPENDITURES:
Current:
General government 42,442 42,442 30,192 12,250
Total expenditures 42,442 42,442 30,192 12,250
REVENUES OVER (UNDER) EXPENDITURES 145,620 145,620 119,847 (25,773)
Net change in fund balance 145,620$ 145,620$ 119,847 (25,773)$
FUND BALANCE:
Beginning of year 185,746
End of year 305,593$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
152
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Community Development Block Grant Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 100,570$ 100,570$ 105,195$ 4,625$
Total revenues 100,570 100,570 105,195 4,625
EXPENDITURES:
Current:
General government 100,570 115,696 105,195 10,501
Total expenditures 100,570 115,696 105,195 10,501
REVENUES OVER (UNDER) EXPENDITURES - (15,126) - 15,126
Net change in fund balance -$ (15,126)$ - 15,126$
FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
153
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Maintenance Districts 1983-1 Street Lighting Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 3,051$ 3,051$ 8,342$ 5,291$
Special assessments 326,067 326,067 313,740 (12,327)
Total revenues 329,118 329,118 322,082 (7,036)
EXPENDITURES:
Current:
Public works 224,984 224,984 216,697 8,287
Total expenditures 224,984 224,984 216,697 8,287
REVENUES OVER (UNDER) EXPENDITURES 104,134 104,134 105,385 1,251
Net change in fund balance 104,134$ 104,134$ 105,385 1,251$
FUND BALANCE:
Beginning of year 375,519
End of year 480,904$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
154
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Maintenance Districts 1983-2 Stagecoach Landscape Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 1,781$ 1,781$ 4,486$ 2,705$
Special assessments 100,588 100,588 99,901 (687)
Total revenues 102,369 102,369 104,387 2,018
EXPENDITURES:
Current:
Public works 100,804 100,804 59,039 41,765
Total expenditures 100,804 100,804 59,039 41,765
REVENUES OVER (UNDER) EXPENDITURES 1,565 1,565 45,348 43,783
Net change in fund balance 1,565$ 1,565$ 45,348 43,783$
FUND BALANCE:
Beginning of year 208,925
End of year 254,273$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
155
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Maintenance Districts 1986-1 Dougherty Landscape Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 4,943$ 4,943$ 8,095$ 3,152$
Special assessments 158,347 158,347 133,125 (25,222)
Total revenues 163,290 163,290 141,220 (22,070)
EXPENDITURES:
Current:
Public works 134,447 134,447 83,202 51,245
Total expenditures 134,447 134,447 83,202 51,245
REVENUES OVER (UNDER) EXPENDITURES 28,843 28,843 58,018 29,175
Net change in fund balance 28,843$ 28,843$ 58,018 29,175$
FUND BALANCE:
Beginning of year 386,751
End of year 444,769$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
156
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Maintenance Districts 1997-1 Santa Rita Landscape Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 5,577$ 5,577$ 17,846$ 12,269$
Special assessments 379,190 379,190 368,560 (10,630)
Total revenues 384,767 384,767 386,406 1,639
EXPENDITURES:
Current:
Public works 327,928 327,928 217,007 110,921
Total expenditures 327,928 327,928 217,007 110,921
REVENUES OVER (UNDER) EXPENDITURES 56,839 56,839 169,399 112,560
Net change in fund balance 56,839$ 56,839$ 169,399 112,560$
FUND BALANCE:
Beginning of year 823,838
End of year 993,237$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
157
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Maintenance Districts 1999-1 East Dublin Street Lighting Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 3,441$ 3,441$ 21,382$ 17,941$
Special assessments 320,721 320,721 307,797 (12,924)
Total revenues 324,162 324,162 329,179 5,017
EXPENDITURES:
Current:
Public works 208,183 208,183 204,190 3,993
Total expenditures 208,183 208,183 204,190 3,993
REVENUES OVER (UNDER) EXPENDITURES 115,979 115,979 124,989 9,010
OTHER FINANCING SOURCES (USES):
Transfers (out) (37,285) (761,615) (2,126) 759,489
Total other financing sources (uses)(37,285) (761,615) (2,126) 759,489
Net change in fund balance 78,694$ (645,636)$ 122,863 768,499$
FUND BALANCE:
Beginning of year 1,006,767
End of year 1,129,630$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
158
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Community Facilities District No. 2017-1 Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 174$ 174$ 2,166$ 1,992$
Special assessments 39,274 39,274 96,247 56,973
Total revenues 39,448 39,448 98,413 58,965
EXPENDITURES:
Current:
Public works 17,166 17,166 1,895 15,271
Streets 7,556 7,556 - 7,556
Total expenditures 24,722 24,722 1,895 22,827
REVENUES OVER (UNDER) EXPENDITURES 14,726 14,726 96,518 81,792
Net change in fund balance 14,726$ 14,726$ 96,518 81,792$
FUND BALANCE:
Beginning of year 70,378
End of year 166,896$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
159
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
State Grant Park Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ 1,358,000$ 980,534$ (377,466)$
Total revenues - 1,358,000 980,534 (377,466)
REVENUES OVER (UNDER) EXPENDITURES - 1,358,000 980,534 (377,466)
OTHER FINANCING SOURCES (USES):
Transfers (out) - (1,358,000) (1,334,704) 23,296
Total other financing sources (uses)- (1,358,000) (1,334,704) 23,296
Net change in fund balance -$ -$ (354,170) (354,170)$
FUND BALANCE:
Beginning of year -
End of year (354,170)$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
160
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
COVID-19 Grants Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Property taxes -$ -$ -$ -$
Sales tax - - - -
Other taxes - - - -
Intergovernmental - - - -
Licenses and permits - - - -
Charges for services - - - -
Interest - - - -
Use of property - - - -
Fines and forfeitures - - - -
Developer fees - - - -
Other revenues - - - -
Special assessments - - - -
Total revenues - - - -
EXPENDITURES:
Current:
General government - - - -
Police - - - -
Fire - - - -
Public works - - - -
Parks and community services - - - -
Economic development - - - -
Community development - - - -
Capital outlay:-
General improvements - - - -
Community improvements - - - -
Parks and community services - - - -
Streets - - - -
Debt service:-
Principal - - - -
Total expenditures - - - -
REVENUES OVER (UNDER) EXPENDITURES - - - -
OTHER FINANCING SOURCES (USES):
Proceeds from long-term debt - - - -
Transfers in - - - -
Transfers (out) - - - -
Total other financing sources (uses)- - - -
Net change in fund balance -$ -$ - -$
FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
161
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Federal COVID-19 Financial Assistance Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ 811,404$ -$ (811,404)$
Total revenues - 811,404 - (811,404)
EXPENDITURES:
Current:
General government - 811,404 53,911 757,493
Total expenditures - 811,404 53,911 757,493
REVENUES OVER (UNDER) EXPENDITURES - - (53,911) (53,911)
Net change in fund balance -$ -$ (53,911) (53,911)$
FUND BALANCE:
Beginning of year -
End of year (53,911)$
City of Dublin
For the year ended June 30, 2020
Budgeted Amounts
162
INTERNAL SERVICE FUNDS
Vehicle Replacement this fund is an interest bearing Internal Service Fund established to finance necessary
vehicle replacements.
Building Replacement this fund is an interest bearing Internal Service Fund established to finance future
major building component repair expenditures.
Equipment Replacement this fund is an interest bearing Internal Service fund established to finance
necessary equipment replacements.
Retiree Health Care this fund is an interest bearing Internal Service Fund established to account for the
contribution made to the California Employers' Retiree Benefit Trust Fund for future retiree health care
benefits.
Information Technology accounts for all information and technology costs, including staffing.
163
City of Dublin
Combining Statement of Net Position
Internal Service Funds
June 30, 2020
Vehicle Building Equipment
Replacement Replacement Replacement
ASSETS
Current assets:
Cash and investments 3,559,908$ 9,902,784$ 6,659,491$
Prepaids - - -
Total current assets 3,559,908 9,902,784 6,659,491
Capital Assets:
Land - 10,774,792 -
Construction in progress - 3,333,121 51,564
Infrastructure - 622,831 122,183
Building and improvements - 63,177,051 -
Vehicles and equipment 5,801,039 - 1,719,231
Less accumulated depreciation (3,803,726) (40,424,546) (881,441)
Net capital assets 1,997,313 37,483,249 1,011,537
Total assets 5,557,221 47,386,033 7,671,028
LIABILITIES
Current liabilities:
Accounts payable and accruals 11,655 - 23,557
Due to other funds - - -
Total current liabilities 11,655 - 23,557
Total liabilities 11,655 - 23,557
NET POSITION (DEFICIT)
Net investment in capital assets 1,997,313 37,483,249 1,011,537
Unrestricted 3,548,253 9,902,784 6,635,934
Total net position (deficit)5,545,566$ 47,386,033$ 7,647,471$
164
Retiree Information
Health Care Technology Total
-$ 943,398$ 21,065,581$
178,472 252,995 431,467
39,436 1,196,393 21,358,012
- - 10,774,792
- 717,562 4,102,247
- - 745,014
- 42,732 63,219,783
- 46,084 7,566,354
- (22,187) (45,131,900)
- 784,191 41,276,290
39,436 1,980,584 62,634,302
(11,719) 60,146 83,639
14,299 - 14,299
2,580 60,146 97,938
2,580 60,146 97,938
- 784,191 41,276,290
36,856 1,136,247 21,260,074
36,856$ 1,920,438$ 62,536,364$
165
City of Dublin
Combining Statement of Revenues, Expenses and Changes in Fund Net Position
Internal Service Funds
For the year ended June 30, 2020
Vehicle Building Equipment
Replacement Replacement Replacement
OPERATING REVENUES:
Charges for services 526,265$ 220,593$ 872,675$
Other revenue - - -
Total operating revenues 526,265 220,593 872,675
OPERATING EXPENSES:
Supplies and services (778,224) (271,470) 245,789
Retiree health premiums - - -
Depreciation 330,275 2,114,107 144,601
Total operating expenses (447,949) 1,842,637 390,390
OPERATING INCOME (LOSS)974,214 (1,622,044) 482,285
NONOPERATING REVENUES (EXPENSES):
Interest income 70,235 179,187 123,099
Total nonoperating revenues (expenses)70,235 179,187 123,099
INCOME (LOSS) BEFORE
CONTRIBUTIONS AND TRANSFERS:1,044,449 (1,442,857) 605,384
Transfers in - 1,000,000 229,066
Transfers (out)- (393,881) (37,604)
Total transfers - 606,119 191,462
Change in net position 1,044,449 (836,738) 796,846
NET POSITION (DEFICIT):
Beginning of year 4,501,117 48,222,771 6,850,625
End of year 5,545,566$ 47,386,033$ 7,647,471$
166
Retiree Information
Health Care Technology Total
928,474$ 1,549,554$ 4,097,561$
797,980 - 797,980
1,726,454 1,549,554 4,895,541
- 1,583,140 779,235
1,726,129 - 1,726,129
- 10,260 2,599,243
1,726,129 1,593,400 5,104,607
325 (43,846) (209,066)
2,991 24,261 399,773
2,991 24,261 399,773
3,316 (19,585) 190,707
- - 1,229,066
- (276,131) (707,616)
- (276,131) 521,450
3,316 (295,716) 712,157
33,540 2,216,154 61,824,207
36,856$ 1,920,438$ 62,536,364$
167
City of Dublin
Combining Statement of Cash Flows
Internal Service Funds
For the year ended June 30, 2020
Vehicle Building Equipment
Replacement Replacement Replacement
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from customers 526,265$ 220,593$ 872,675$
Payments to suppliers and service providers 789,879 271,470 (347,455)
Other revenues - - -
Net cash provided by (used in) operating activities 1,316,144 492,063 525,220
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:
Cash receipts from other funds - 1,000,000 229,066
Cash disbursements to other funds - (393,881) (37,604)
Net cash provided by (used in) noncapital financing activities - 606,119 191,462
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:
Purchase of capital assets (1,168,526) (393,876) (162,646)
Net cash used in capital and related financing activities (1,168,526) (393,876) (162,646)
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest received 70,235 179,187 123,099
Net cash provided by investing activities 70,235 179,187 123,099
Net Cash Flows 217,853 883,493 677,135
CASH AND CASH EQUIVALENTS - Beginning of year 3,342,055 9,019,291 5,982,356
CASH AND CASH EQUIVALENTS - End of year 3,559,908$ 9,902,784$ 6,659,491$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Operating income (loss)974,214$ (1,622,044)$ 482,285$
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation 330,275 2,114,107 144,601
Change in assets and liabilities
Prepaids - - -
Accounts payable and accruals 11,655 - (101,666)
Net cash provided by (used in) operating activities 1,316,144$ 492,063$ 525,220$
168
Retiree Information
Health Care Technology Total
1,067,510$ 1,549,554$ 4,236,597$
(1,904,555) (1,751,993) (2,942,654)
797,980 - 797,980
(39,065) (202,439) 2,091,923
- - 1,229,066
14,299 (276,131) (693,317)
14,299 (276,131) 535,749
- (36,131) (1,761,179)
- (36,131) (1,761,179)
2,991 24,261 399,773
2,991 24,261 399,773
(21,775) (490,440) 1,266,266
21,775 1,433,838 19,799,315
-$ 943,398$ 21,065,581$
325$ (43,846)$ (209,066)
- 10,260 2,599,243
(14,320) (210,562) (224,882)
(164,106) 41,709 (212,408)
(39,065)$ (202,439)$ 2,091,923$
169
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170
AGENCY FUNDS
Fallon Village Geologic Hazard abatement District this assessment district was established in
2007, in accordance with a condition of approval for the Fallon Village development project. The
District was formed to provide a mechanism for ongoing maintenance on open space areas within
the development. The boundary of this assessment district encompasses approximately 175 acres of
land, located generally east of Fallon Road.
Schaefer Ranch Geologic Hazardous Abatement District this assessment district was established in
2006, in accordance with a condition of approval for the Fallon Village development project. The
District was formed to provide a mechanism for ongoing maintenance of open space areas within
the development. The boundary of this assessment district encompasses approximately 500 acres of
land, located at the westerly boundary of the City limits north of interstate 580, and south of the
unincorporated area of Alameda County.
Fallon Crossing (North Tassajara) Geologic Hazard Abatement District this assessment district
was established to account for the maintenance of open space areas in accordance with a condition
of approval for the fallon Crossings development project. The boundary of the District encompasses
68 acres of land located on the northeast side of Tassajara Road, about 2 1/4 Miles north of
Interstate Highway 580, Tassajara Road and Moller Creek, a tributary of Tassajara Creek, border the
western and northeastern limits of the site.
Dublin Crossing Community Facilities District (CFD) No. 2015-1 (Dublin Crossing) Fund is used to
account for bond issuances to finance capital facilities and infrastructure within the CFD secured by the
collection of Special Taxes on real property within the CFD. The Agency Fund is custodial in nature
(assets equal liabilities) and therefore does not involve measurement of results of operations. CFD
bonds are not debt obligations of the City.
Dublin Boulevard Extension Assessment District to account form the special assessment established to
fund the improvements to Dublin Boulevard.
Geologic Hazard Abatement Districts two districts were formed under provisions in the California
Public Code, Which establishes in section 25670 that a district is a political subdivision of the State and
is not an agency or instrumentality of a local agency. The City acts as a trustee of the funds collected
and may contractually provide or arrange for services paid for by the District. Fiscal Year 2008-2009
was the first year that tax roll assessments were levied by the Districts.
171
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172
City of Dublin
Combining Statement of Assets and Liabilities
All Agency Funds
June 30, 2020
Dublin
Boulevard Fallon Community
Extension Crossing Facilities
Assessment Fallon Schnaefer (North District Total
District Village Ranch Tassajara) No. 2015-1 Agency Funds
Assets:
Cash and investments 9,184$ 6,129,834$ 4,885,051$ 1,176,419$ 29,810,317$ 42,010,805$
Accounts receivable - 6,301 5,688 2,216 15,508 29,713
Total assets 9,184$ 6,136,135$ 4,890,739$ 1,178,635$ 29,825,825$ 42,040,518$
Liabilities:
Accounts payable -$ 10,564$ 29,127$ 1,309$ 24,494$ 65,494$
Due to trustee - 6,125,571 4,861,612 1,177,326 29,801,331 41,965,840
Due to bondholders 9,184 - - - - 9,184
Total liabilities 9,184$ 6,136,135$ 4,890,739$ 1,178,635$ 29,825,825$ 42,040,518$
Geologic Hazard Abatement Districts
173
City of Dublin
Agency Funds
Statement of Changes in Agency Funds Assets and Liabilities
For the year ended June 30, 2020
Balance Balance
July 1, 2019 Additions Deductions June 30, 2020
Dublin Boulevard Extension Assessment District
Assets:
Cash and investments 9,001$ 183$ -$ 9,184$
Total assets 9,001$ 183$ -$ 9,184$
Liabilities:
Due to bondholders 9,001$ 183$ -$ 9,184$
Total liabilities 9,001$ 183$ -$ 9,184$
Fallon Village Geologic Hazardous Abatement District
Assets:
Cash and investments 5,190,597$ 1,206,921$ 267,684$ 6,129,834$
Accounts receivable 3,966 10,267 7,932 6,301
Total assets 5,194,563$ 1,217,188$ 275,616$ 6,136,135$
Liabilities:
Accounts payable 36,283$ 204,999$ 230,718$ 10,564$
Due to trustee 5,158,280 967,291 - 6,125,571
Total liabilities 5,194,563$ 1,172,290$ 230,718$ 6,136,135$
Schaefer Ranch Geologic Hazardous Abatement District
Assets:
Cash and investments 4,397,231$ 604,985$ 117,165$ 4,885,051$
Accounts receivable - 5,688 - 5,688
Total assets 4,397,231$ 610,673$ 117,165$ 4,890,739$
Liabilities:
Accounts payable 17,822$ 104,326$ 93,021$ 29,127$
Due to trustee 4,739,409 122,203 - 4,861,612
Total liabilities 4,757,231$ 226,529$ 93,021$ 4,890,739$
174
Balance Balance
July 1, 2019 Additions Deductions June 30, 2020
Fallon Crossing (North Tassajara) Geologic Hazardous Abatement District
Assets:
Cash and investments 752,582$ 450,471$ 26,634$ 1,176,419$
Accounts receivable 2,066 4,282 4,132 2,216
Total assets 754,648$ 454,753$ 30,766$ 1,178,635$
Liabilities:
Accounts payable 297$ 11,001$ 9,989$ 1,309$
Due to trustee 754,351 422,975 - 1,177,326
Total liabilities 754,648$ 433,976$ 9,989$ 1,178,635$
Communities Facilities District No. 2015-1
Assets:
Cash and investments 12,195,414$ 49,331,781$ 31,716,878$ 29,810,317$
Accounts receivable 4,079 19,587 8,158 15,508
Total assets 12,199,493$ 49,351,368$ 31,725,036$ 29,825,825$
Liabilities:
Accounts payable 333$ 3,004,033$ 2,979,872$ 24,494$
Due to other 12,199,160 17,602,171 - 29,801,331
Total liabilities 12,199,493$ 20,606,204$ 2,979,872$ 29,825,825$
Totals - All Agency Funds
Assets:
Cash and investments 22,544,825$ 51,594,341$ 32,128,361$ 42,010,805$
Accounts receivable 10,111 39,824 20,222 29,713
Total assets 22,554,936$ 51,634,165$ 32,148,583$ 42,040,518$
Liabilities:
Accounts payable 54,735$ 3,324,359$ 3,313,600$ 65,494$
Due to other 12,199,160 17,602,171 - 29,801,331
Due to trustee 10,652,040 1,512,469 - 12,164,509
Due to bondholders 9,001 183 - 9,184
Total liabilities 22,914,936$ 22,439,182$ 3,313,600$ 42,040,518$
175
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176
Index
Financial Trends
Revenue Capacity
Debt Capacity
Demographic and Economic Information
Operating Information
These schedules contain service and infrastructure data to help the reader understand how the
information in the City’s financial report relates to the services the City provides and the
activities it performs.
STATISTICAL SECTION
This part of the City of Dublin’s comprehensive annual financial report presents detailed information as
a context for understanding what the information in the financial statements, note disclosures, and
required supplementary information says about the City's overall financial health.
These schedules contain trend information to help the reader understand how the City’s
financial performance and well-being have changed over time.
These schedules contain information to help the reader assess the City’s most significant local
revenue source, the property tax.
These schedules present information to help the reader assess the affordability of the City’s
current levels of outstanding debt and the City’s ability issues additional debt in the future.
These schedules offer demographic and economic indicators to help the reader understand the
environment within which the City’s financial activities take place.
177
2011 2012 2013
Governmental Activities
Net Investment In Capital Assets 433,779,703$ 433,548,888$ 432,722,323$
Restricted 21,453,867 36,714,724 52,548,095
Unrestricted 76,303,907 86,063,259 99,084,771
Total primary government 531,537,477$ 556,326,871$ 584,355,189$
Source: City of Dublin Administrative Services Department
Fiscal Year
CITY OF DUBLIN
NET POSITION BY COMPONENT
LAST TEN FISCAL YEARS
(Accrual Basis of Accounting)
178
2014 2015 2016 2017 2018 2019 2020
445,529,366$ 444,832,546$ 460,963,292$ 487,123,214$ 501,516,781$ 531,251,006$ 539,809,963$
60,808,540 74,738,217 97,592,438 94,745,655 107,452,493 105,409,183 109,947,040
97,918,858 107,176,361 111,725,077 120,464,219 141,008,993 177,705,220 193,382,816
604,256,764$ 626,747,124$ 670,280,807$ 702,333,088$ 749,978,267$ 814,365,409$ 843,139,819$
//////
Fiscal Year
179
2011 2012 2013
Expenses
Governmental Activities
General government 9,322,322$ 10,116,219$ 10,265,476$
Police
Fire
Public works
Parks and community service
Economic development
Public safety 24,413,496 26,781,283 26,846,045
Highways and streets 10,142,946 6,709,217 7,241,263
Health and Welfare 12,749,042 146,204 3,753,875
Culture and leisure services 9,304,429 9,804,128 10,772,868
Community development 5,482,552 6,089,415 9,979,877
Interest on long-term debt
Total Governmental Activities Expenses 71,414,787 59,646,466 68,859,404
Program Revenues
Governmental Activities
Charges for Services
General government 225,109$ 140,418$ 142,353$
Police
Fire
Public works
Parks and community service
Economic development
Public safety 1,821,404 1,061,352 2,482,060
Highways and streets 450,937 738,662 470,063
Health and Welfare 2,874,952 3,063,223 3,422,782
Culture and leisure services 2,214,407 1,909,812 2,463,146
Community development 5,546,417 9,051,970 9,540,241
Operating Contributions and Grants 2,220,247 1,008,318 1,135,050
Capital Contributions and Grants 15,745,614 23,668,070 28,689,753
Total Governmental Activities Program Revenues 31,099,087$ 40,641,825$ 48,345,448$
Source: City of Dublin Administrative Services Department
Fiscal Year
CITY OF DUBLIN
CHANGES IN NET POSITION
LAST TEN FISCAL YEARS
(Accrual Basis of Accounting)
180
2014 2015 2016 2017 2018 2019 2020
17,665,221$ 10,774,480$ 19,280,680$ 13,549,013$ 16,120,440$ 14,460,805$ 24,851,393$
15,325,113 18,316,420 17,080,942 19,423,830 21,814,982 22,483,378
12,198,769 14,725,476 13,687,195 13,315,788 14,152,331 14,122,166
15,336,225 13,883,008 18,351,543 17,103,824 24,131,711 21,103,350
12,149,716 14,625,459 11,193,876 15,640,280 12,750,878 10,548,537
679,313 555,564 864,697 683,362 926,223
27,770,111
4,305,390 43,787
4,057,796
9,018,161
9,169,788 5,713,196 11,410,946 14,249,950 7,074,630 5,606,118 5,406,572
125,881
71,986,467 72,176,812 92,797,553 88,977,216 89,531,822 93,843,048 98,515,396
153,544$ 5,777,971$ 5,209,378$ 5,402,925$ 6,060,099$ 6,520,152$ 7,507,286$
399,802 362,054 322,231 335,929 330,280 244,363
1,746,581 1,633,056 1,426,973 1,551,899 1,708,807 1,603,243
2,987,235 2,698,767 3,386,621 3,517,700 3,132,543 2,471,032
3,009,383 2,931,553 2,950,625 4,638,050 5,287,193 3,237,611
2,164,085
484,801
3,631,344
2,753,911
10,393,367 7,657,467 13,217,027 9,334,477 10,139,788 7,742,076 4,402,789
1,674,815 955,677 1,629,137 8,008,289 12,577,699 7,633,916 4,940,586
20,914,994 21,931,981 38,433,119 21,133,748 23,438,110 34,517,687 9,192,691
42,170,861$ 44,466,097$ 66,114,091$ 51,965,889$ 62,259,274$ 66,872,654$ 33,599,601$
Fiscal Year
181
2011 2012 2013
Net (Expense)/Revenue
Governmental Activities (40,315,700)$ (19,004,641)$ (20,513,956)$
General Revenues and Other Changes in Net Position
Governmental Activities
Taxes
Property taxes 21,918,484 22,246,360 23,590,102
Special assessment taxes
Sales tax 12,969,119 14,996,932 15,359,340
Other taxes 3,798,515 4,295,675 5,054,257
Motor vehicle tax, unrestricted 250,974
Investment income, unrestricted 536,047 865,719 (399,590)
Other general revenues 1,079,419 1,389,349 4,938,165
Total Governmental Activities 40,552,558 43,794,035 48,542,274
Change in Net Position
Governmental Activities 236,858$ 24,789,394$ 28,028,318$
Source: City of Dublin Administrative Services Department
Fiscal Year
CITY OF DUBLIN
CHANGES IN NET POSITION
LAST TEN FISCAL YEARS
(Accrual Basis of Accounting)
182
2014 2015 2016 2017 2018 2019 2020
(29,815,606)$ (27,710,715)$ (26,683,462)$ (37,011,327)$ (27,272,548)$ (26,970,394)$ (64,915,795)$
25,286,308 29,437,951 33,598,601 36,964,785 40,628,040 44,293,602 49,086,335
1,359,212 1,416,721 1,472,933 1,469,840 1,523,257
17,833,314 1,264,204 22,070,547 21,186,333 21,134,636 26,297,803 22,506,975
5,427,627 19,211,823 6,606,016 6,834,545 43,787 8,223,510 7,280,323
6,159,654
853,147 2,937,999 (710,595) (558,269) 8,589,252 10,485,543
316,785 1,022,209 3,644,670 3,371,819 3,335,600 2,483,530 2,276,391
49,717,181 57,095,841 70,217,045 69,063,608 66,056,727 91,357,537 93,158,824
19,901,575$ 29,385,126$ 43,533,583$ 32,052,281$ 38,784,179$ 64,387,143$ 28,243,029$
Fiscal Year
183
2011* 2012 2013
General Fund
Reserved
Unreserved, designated for:
Advance to TVTD W. BART station contribution
Affordable Housing
Authorized expenditures
Capital improvments
Cash Flow & Operation Stability
Catastrophic Loss & Business Recovery
Capital Improvements Projects Carryover
Compensated Absences
Economic Uncertainty
Emergency Communication System
Fire Retiree Medical
Innovation & New Opportunities
Investment Market Value Adjustment
Operation Carryover
Service Continuity Obligation
Unreserved, undesigned
Non-Spendable 4,096,768$ 3,433,886$ 2,836,130$
Restricted 500,000
Committed 27,893,755 24,176,650 36,020,171
Assigned 17,407,053 22,080,677 23,912,896
Unassigned 14,745,685 15,072,535 14,047,932
Total General Fund 64,143,261$ 64,763,748$ 77,317,129$
All Other Governmental Funds
Reserved
Unreserved, Reported In:
Special Revenue Funds
Capital Projects Funds
Undesignated
Non-spendable
Restricted 21,453,867$ 38,073,638$ 53,646,702
Committed
Assigned
Unassigned (1,735,988) (1,358,914) (1,098,607)
Total All Other Governmental Funds 19,717,879$ 36,714,724$ 52,548,095$
Total Governmental Funds 83,861,140$ 101,478,472$ 129,865,224$
* GASB 54 implemented in fiscal year 10/11
Source: City of Dublin Administrative Services Department
CITY OF DUBLIN
FUND BALANCES OF GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
Fiscal Year
184
2014 2015 2016 2017 2018 2019 2020
43,787
2,465,678$ 1,475,691$ 729,883$ 198,878$ 7,391$ 12,818$ 13,061$
500,000 500,000 579,000 1,762,000 1,938,000 1,938,000 1,938,000
34,124,267 38,531,179 38,928,755 36,213,714 43,740,492 47,267,326 57,828,475
29,259,333 35,875,264 39,078,695 50,126,807 57,267,840 60,771,810 64,004,658
13,228,484 21,324,360 29,867,693 34,114,263 39,158,943 61,235,819 66,865,027
79,621,549$ 97,706,494$ 109,184,026$ 122,415,662$ 142,112,666$ 171,225,773$ 190,649,221$
650 25,000
61,710,448 75,646,848 84,453,929 82,686,743 105,476,681 107,090,763 104,872,535
21,743
(923,409) (930,131) 13,138,509 11,808,233 (1,998,366) (3,737,589) (3,522,706)
60,787,039$ 74,738,460$ 97,592,438$ 94,494,976$ 103,478,965$ 103,353,174$ 101,374,829$
140,408,588$ 172,444,954$ 206,776,464$ 216,910,638$ 245,591,631$ 274,578,947$ 292,024,050$
Fiscal Year
185
2011 2012 2013
Revenues
Property taxes 22,067,074$ 22,398,847$ 23,742,336$
Taxes other than property 17,210,947 19,761,015 20,915,025
Intergovernmental 3,946,271 3,962,572 4,534,748
Licenses and permits 2,752,748 4,501,736 5,224,932
Charges for services 8,743,460 10,331,501 11,979,079
Investment income 952,819 1,068,138 (185,467)
Use of property 978,642 659,857 580,507
Fines and forfeitures 303,595 284,993 326,027
Developer fees 9,390,001 15,965,329 19,545,692
Special assessments 904,739 944,455 980,775
Other revenues 4,135,091 4,509,762 9,134,201
Total Revenues 71,385,387 84,388,205 96,777,855
Expenditures
Current:
General Government 7,935,407 7,001,850 7,600,102
Police
Fire
Public works
Park and community service
Economic development
Public safety 24,546,456 26,298,962 26,643,549
Highways and streets 3,030,540 2,768,068 3,096,498
Health and welfare 12,775,536 4,422,468 4,149,599
Culture and leisure services 7,223,808 8,248,229 8,919,816
Community development 5,609,603 7,362,732 8,586,129
Capital outlay:
General 599,965 6,641,674 8,866,096
Health and welfare
Community improvements 328,418 213,777 81,234
Culture and leisure 996,669 2,324,586
Parks 3,809,723
Streets 4,513,072 2,959,555 4,946,527
Debt service:
Principal
Total Expenditures 70,372,528 66,913,984 75,214,136
Excess of Revenues Over (Under) Expenditures 1,012,859 17,474,221 21,563,719
Other Financing Sources (Uses)
Proceeds from Debt
Transfers In 9,163,360 10,898,009 16,338,838
Transfers Out (9,163,360) (10,754,898) (9,515,805)
Total Other Financing Sources (Uses) 143,111 6,823,033
Net Change In Fund Balances $1,012,859 $17,617,332 $28,386,752
Debt Service as a percentage
of non-capital expenditures 0.0% 0.0% 0.0%
Source: City of Dublin Administrative Services Department
Fiscal Year
CITY OF DUBLIN
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
186
2014 2015 2016 2017 2018 2019 2020
25,448,254$ 29,437,951$ 33,598,601$ 36,964,784$ 40,628,040$ 44,293,602$ 49,086,335$
23,769,133 25,371,476 28,676,662 28,020,877 27,089,866 32,949,484 28,312,778
2,574,159 3,245,822 3,303,521 9,352,861 12,415,367 8,961,332 7,411,403
5,944,985 6,025,685 6,139,420 7,770,259 7,706,579 6,631,083 3,904,684
12,326,848 13,737,934 13,846,381 14,185,768 17,859,770 16,786,806 14,433,980
1,101,634 1,071,936 3,689,940 168,792 666,808 10,345,636 12,006,831
1,591,784 2,352,810 6,751,864 1,539,669 1,669,841 1,519,342 1,381,729
323,601 320,629 290,871 260,220 275,665 265,971 196,840
43,787 18,578,172 37,240,622 19,454,100 17,096,267 15,169,147 6,599,237
1,025,239 1,264,201 1,359,214 1,416,721 1,472,932 1,469,839 1,523,256
2,712,998 3,473,012 1,323,855 1,724,880 7,344,731 4,881,209 1,587,084
76,862,422 104,879,628 136,220,951 120,858,931 134,225,866 143,273,451 126,444,157
8,411,507 10,663,140 20,110,958 12,421,915 13,355,989 13,958,554 23,151,872
15,697,432 17,886,990 17,183,853 19,355,889 21,983,278 22,177,174
11,930,245 12,265,614 13,442,239 13,431,891 14,269,535 14,244,913
8,481,686 8,616,323 13,433,983 10,718,547 14,708,764 13,821,133
9,731,003 10,791,185 8,934,718 13,585,706 9,708,040 7,228,275
808,272 604,777 891,602 664,909 936,191
27,381,497
3,042,476
4,379,634
9,349,729
9,102,734 6,059,180 11,348,674 11,652,735 6,700,773 5,543,073 4,989,648
13,316,472 1,241,494 666,478 1,922,766 2,380,766 11,240,369 9,828,253
21,497 68,190 117,104 3,854 76,795
9,451,657 4,742,328 23,469,847 26,113,810
10,606,254 1,081,809 6,180,120
2,403,926 3,568,142 3,652,808 10,516,675 12,832,455 14,666,554 5,488,030
1,345,484 1,368,186 1,368,186
86,861,129 72,991,112 109,530,758 116,518,150 105,055,458 109,464,353 108,477,604
(9,998,707) 31,888,516 26,690,193 4,340,781 29,170,408 33,809,098 17,966,553
5,450,042
25,192,268 9,625,456 27,912,037 38,313,026 24,363,489 27,100,426 21,651,510
(20,385,523) (9,455,561) (29,903,351) (37,969,675) (24,852,904) (31,922,207) (22,172,960)
4,806,745 169,895 (1,991,314) 5,793,393 (489,415) (4,821,781) (521,450)
($5,191,962) $32,058,411 $24,698,879 $10,134,174 $28,680,993 $28,987,317 $17,445,103
0.0% 0.0% 0.0% 0.0% 1.7% 1.9% 1.5%
Fiscal Year
187
Fiscal
Year Real Property Net Taxable
Ended Residential Commercial Industrial Unsecured/ Less: Assessed City Wide Avg.
June 30 Property Property Property Other Property Exemptions Value Total Direct Tax Rate
2011 5,967,980,343 1,285,382,821 209,573,141 843,686,092 -115,875,189 8,190,747,208 0.2386%
2012 6,114,540,497 1,263,207,583 246,434,460 859,683,607 -120,225,737 8,363,640,410 0.2386%
2013 6,378,930,469 1,330,147,064 245,481,519 948,525,966 -112,296,063 8,790,788,955 0.2380%
2014 7,135,260,308 1,336,760,537 246,334,563 1,035,990,618 -172,869,596 9,581,476,430 0.2373%
2015 8,431,051,125 1,391,578,857 274,410,187 1,138,571,747 -185,639,690 11,049,972,226 0.2367%
2016 9,662,162,719 1,481,865,501 277,588,684 1,261,568,728 -152,705,687 12,530,479,945 0.2365%
2017 10,563,641,612 1,572,348,815 276,986,936 1,412,347,150 -151,208,054 13,674,116,459 0.2363%
2018 11,483,621,200 1,634,851,757 279,900,741 1,494,613,752 -91,891,868 14,801,095,582 0.2363%
2019 12,705,642,088 1,713,788,644 284,936,683 1,623,924,258 -181,733,659 16,146,558,014 0.2363%
2020 14,169,003,039 1,819,769,185 302,957,585 1,719,280,594 -181,569,809 17,829,440,594 0.2360%
116,410,913 5,205,377
Source: HDL Coren & Cone and Alameda County Assessor Combined Tax Rolls, 2010/11 through 2019/20
Note: Actual property value data not available in California.
(1) California cities do not set their own direct tax rate. The state constitution establishes the rate at 1% and allocates a portion
of that amount by an annual calculation, to all the taxing entities within a tax rate area.
(2) The City-wide Direct Tax Rate is an average, the actual tax rate for each property varies according to its tax rate area. This average tax
rate is net of State Shifts of local property tax revenue to Education and net of Admin fees.
CITY OF DUBLIN, CALIFORNIA
Assessed Value of Taxable Property
Last Ten Fiscal Years
188
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189
CITY OF DUBLIN, CALIFORNIA
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(Rate per $100 of assessed value)
City Direct Rates
Castro Valley Chabot-Las Positas Dublin East Bay
Fiscal Basic Total Bay Area Unified Community Unified Regional
Year Levy Direct Rapid Transit School Bonds College Boards Bonds 1A & B Park
2010-11 1.00000 0.23860 0.00570 0.10230 0.01950 0.08160 0.01080
2011-12 1.00000 0.23860 0.00310 0.10040 0.02110 0.10110 0.00840
2012-13 1.00000 0.23860 0.00410 0.09890 0.02140 0.09700 0.00710
2013-14 1.00000 0.23796 0.00430 0.09240 0.02190 0.09930 0.00510
2014-15 1.00000 0.23730 0.00750 0.08510 0.02140 0.11470 0.00780
2015-16 1.00000 0.23669 0.00450 0.08520 0.02170 0.10770 0.00850
2016-17 1.00000 0.23650 0.00260 0.00000 0.01980 0.07670 0.00670
2017-18 1.00000 0.00236 0.00800 0.00000 0.02460 0.09720 0.00320
2018-19 1.00000 0.00236 0.00700 0.00000 0.04430 0.14520 0.00570
2019-20 1.00000 0.00236 0.01200 0.00000 0.04220 0.14600 0.00600
Source: HDL Coren & Cone and Alameda County Assessor Combined Tax Rolls, 2010/11 through 2019/20
(1) Overlapping rates are those of local and county governments that apply to property owners within the City.
Not all overlapping rates apply to all city property owners. These are voter approved levies in addition to
the 1% State levy.
(2) The City's share of the 1% Levy is based on the City's share of the general fund tax rate area with the largest
net taxable value within the City.
Overlapping Rates (1)
190
Flood Zone 7 Livermore Valley Total City's Share
State Water Joint Unified County Wide Direct & Overlapping of 1% Levy per
Bonds School Board Go Bond Tax Rate Proposition 13
0.02030 0.06740 0.00000 1.30760 0.2818
0.02500 0.06350 0.00000 1.32260 0.2818
0.03070 0.06270 0.00000 1.32190 0.2818
0.02280 0.06070 0.00000 1.30650 0.2818
0.02570 0.05960 0.00000 1.32180 0.2818
0.02500 0.04970 0.00000 1.30230 0.2817
0.03430 0.00000 0.00000 1.14010 0.2818
0.03330 0.00000 0.00000 1.16630 0.2818
0.03320 0.00000 0.01120 1.24660 0.2818
0.03090 0.00000 0.01080 1.24790 0.2818
191
CITY OF DUBLIN, CALIFORNIA
Principal Property Tax Payers
Current year and Nine Years Ago
2019-20 2010-11
Percentage Percentage
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Value Value Rank Value
Kaiser Foundation Hospitals $ 255,587,787 1 1.43%
Avalon Dublin Station II, LP 171,932,223 2 0.96%
GH Pacvest, LLC 139,433,300 3 0.78%
4800 Tassajara Road Apts Invest LLC 124,593,791 4 0.70%
Dublin Station Owner, LLC 119,276,036 5 0.67%
Dublin Crossing, LLC 114,106,648 6 0.64%
Dublin Corporate Center Owner, LLC 113,299,560 7 0.63%
Ross Dress for Less, Inc 112,215,466 8 0.63%
Essex Dublin Owner, LP 107,625,352 9 0.60%
Bere Island Properties I, LLC 96,092,894 10 0.54%
Trust NOIP Dublin, LP $ 103,000,000 1 1.26%
Dublin Corporate Center, LP 85,500,000 2 1.04%
Avalon at Dublin Station, LP 84,406,681 3 1.03%
Bere Island Properties I, LLC 83,224,142 4 1.02%
4800 Tassajara Road Apts Invest LLC 78,150,770 5 0.95%
Tishman Speyer Archstone Smith Emerald 77,368,249 6 0.94%
DR Horton Bay, Inc 73,781,334 7 0.90%
BIT Holding Sixty-Three 71,208,094 8 0.87%
Kaiser Foundation Hospitals 62,784,487 9 0.77%
BJF ROF Jordan Ranch LLC 49,352,629 10 0.60%
Subtotal $ 1,354,163,057 7.58% $ 768,776,386 9.38%
Source: HDL Coren & Cone and Alameda County Assessor Combined Tax Rolls
192
CITY OF DUBLIN, CALIFORNIA
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal
Year Current Percent Delinquent Total
Ended Total Tax of Levy Tax Tax Percent
June 30 Tax Levy Collections Collected Collections Collections of Levy
2011 23,079,068 22,159,873 96.02% 533,248 22,693,121 98.33%
2012 23,566,230 22,761,802 96.59% 432,891 23,194,693 98.42%
2013 24,769,806 23,997,036 96.88% 527,988 24,525,024 99.01%
2014 27,001,559 26,200,578 97.03% 432,070 26,632,648 98.63%
2015 31,129,982 30,434,412 97.77% 412,643 30,847,054 99.09%
2016 35,304,627 34,734,843 98.39% 357,472 35,092,315 99.40%
2017 38,529,558 38,100,547 98.89% 335,955 38,436,502 99.76%
2018 41,708,007 41,594,518 99.73% 362,487 41,957,005 100.60%
2019 45,499,386 45,357,078 99.69% 330,947 45,688,025 100.41%
2020 50,245,147 50,102,147 99.72% 379,250 50,481,396 100.47%
Source: Alameda County Assessor Office
193
Total Property Tax Assessed Value of Taxable Property
Percentage
Outstanding Debt Applicable to Estimated Share of
6/30/2020 City of Dublin
(1)Overlapping Debt
OVERLAPPING TAX AND ASSESSMENT DEBT:
Alameda County 218,000,000$ 5.769% 12,576,420$
Bay Area Rapid Transit District 1,282,740,000 2.225% 28,540,965
Chabot-Las Positas Community College District 626,920,000 13.427% 84,176,548
Dublin Joint Unified School District 536,817,544 99.978% 536,699,444
East Bay Regional Park District 155,835,000 3.483% 5,427,733
City of Dublin Community Facilities District No. 2015-1 70,395,000 100.00% 70,395,000
California Statewide Communities Development Authority 1915 Act Bonds 859,511 100.00% 859,511
TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 738,675,621$
DIRECT AND OVERLAPPING GENERAL FUND DEBT
Alameda County General Fund Obligations 830,130,000 5.769% 47,890,200
Alameda-Contra Costa Transit District Certificates of Participation 11,655,000 0.188% 21,911
City of Dublin Loans Payable 1,368,186 100.00% 1,368,186
TOTAL DIRECT AND OVERLAPPING GENERAL FUND DEBT 49,280,297$
TOTAL DIRECT DEBT 1,368,186$
TOTAL OVERLAPPING DEBT 786,587,732$
COMBINED TOTAL DEBT (2)787,955,918$
RATIOS TO ASSESSED VALUATION:
4.13%
Total Direct Debt ($1,368,186)..………..…………………………0.01%
Combined Total Debt….………….…….…………………………4.40%
Source: California Municipal Statistics, Inc.
Notes:
(1) The percentage of overlapping debt applicable to the City is estimated using taxable assessed property value. Applicable percentages were
estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's
total taxable assessed value.
(2) Excludes tax and revenue anticipation notes, enterprise revenue and mortgage revenue and non-bonded capital lease obligations
CITY OF DUBLIN, CALIFORNIA
Direct and Overlapping Debt
June 30, 2020
Total Overlapping Tax and Assessment Debt..……………………
194
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195
2010-11 2011-2012 2012-13 2013-14
Debt limit 311,498,340$ 318,144,981$ 333,865,688$ 361,622,926$
Total net debt applicable to limit - - - -
Legal debt margin 311,498,340$ 318,144,981$ 333,865,688$ 361,622,926$
Total net debt applicable to the limit
as a percentage of debt limit 0.0% 0.0% 0.0% 0.0%
(1) Source: City of Dublin Administrative Services Department
(3) The government code provision was enacted when assessed valuation was based upon 25% of market
value. Effective with the 1981-82 fiscal year, each parcel in now assessed at 100% of market value (as of the
most recent change in ownership parcel) in ownership for that parcel. The computations shown above
reflect a conversion of assessed valuation data for each fiscal year from the current full valuation perspective
to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California
for local governments located within the state.
Fiscal Year
(2) The legal debt margin for the City of Dublin, California, is calculated using a debt limit of 15 percent of the assessed
value of property within the City limits. (Gov Code of State of California)
CITY OF DUBLIN, CALIFORNIA
Legal Debt Margin Information
Last Ten Fiscal Years
196
Legal Debt Margin Calculation for Fiscal Year 2019-20
Assessed value (net) - June 30, 2020 (1) $ 17,829,440,594
Debt limit: 15% of assessed value 2,674,416,089
Less total bonded debt, general obligation -
Legal debt margin (2) $ 2,674,416,089
Conversion Percentage for Calculation of Debt Limit (3) 25%
$ 668,604,022
2014-15 2015-16 2016-17 2017-18 2018-19 2019-20
416,774,836$ 469,892,998$ 512,779,367$ 555,041,084$ 605,495,926$ 668,604,022$
- - - - - -
416,774,836$ 469,892,998$ 512,779,367$ 555,041,084$ 605,495,926$ 668,604,022$
0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fiscal Year
197
CITY OF DUBLIN, CALIFORNIA
Demographic And Economic Statistics
Last Ten Calendar Years
(Dollars in Thousands)
Per Capita Rank in Size
Fiscal City Personal Personal Unemployment of
Year Population (1) Income, in thousands (1) Income (1) Rate (2) California Cities (1)
2010 45,672 1,700,094 34,823 6.9% 179
2011 46,785 1,677,944 35,865 6.3% 182
2012 49,890 1,819,688 36,474 4.2% 175
2013 53,462 2,321,908 43,431 3.5% 181
2014 54,695 2,333,289 42,660 3.6% 185
2015 57,349 2,562,296 44,679 2.9% 156
2016 59,686 2,836,816 47,529 2.7% 153
2017 60,939 3,101,125 50,889 2.8% 153
2018 63,445 3,441,955 54,251 2.7% 147
2019 64,826 3,789,339 58,454 2.5% 140
Sources: (1) US Census Buraeu, most recent estimates July 1, 2019
(2) State of California, Employment Development Department March 2019 Benchmark
198
Total Number of Commercial Residential
Fiscal Year Ended Building Permits Construction Value Construction Value
30-Jun Issued (1) (1) (1) Bank Deposits (2)
2011 1,471 40,005,124 165,324,045 1,281,183,000
2012 2,110 28,775,536 344,927,791 N/A
2013 2,425 21,139,964 386,984,935 N/A
2014 2,443 57,812,261 322,511,777 N/A
2015 2,068 60,793,275 295,988,465 N/A
2016 2,812 102,148,173 323,747,409 N/A
2017 2,806 177,500,725 308,916,668 N/A
2018 2,803 54,086,352 383,817,023 N/A
2019 2,350 119,498,163 272,846,465 N/A
2020 1,866 45,031,310 157,262,586 N/A
Source: 1) City of Dublin Community Development Department
Property Value, Construction, and Bank Deposits
Last Ten Fiscal Years
CITY OF DUBLIN, CALIFORNIA
2) Findley Reports, Inc Bank Deposits represents the amount of cash deposits held by financial
institutions within the city annually, Jan thru Dec.
199
Estimated Estimated
Number of Number of
Employer Employees Rank Employees Rank
United States Government
& Federal Correction Institute 1,450 1 1,400 1
County of Alameda 975 4 1,165 2
Dublin Unified School District 1,096 3 1,115 3
Ross Stores Headquarters 1,100 2 1,100 4
Kaiser Permanente 600 5 510 5
Zeiss Meditec 450 6 450 6
TriNet N/A N/A 400 7
Target Stores 380 9 380 8
Patelco Credit Union 400 7 380 8
City of Dublin 400 8 332 10
Whole Foods 350 10 N/A N/A
Subtotal 7,201 7,232
Total City Day Population
Source: City of Dublin Economic Development Division
20202019
CITY OF DUBLIN, CALIFORNIA
Principal Employers
Current Year and Prior Year
(Dollars in thousands)
200
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201
2011 2012 2013 2014 2015
Function
General government
City Manager 6.00 6.50 6.50 6.50 6.34
Administrative Services 11.50 11.50 11.50 11.75 11.75
Economic Development 1.50 2.50 2.50 3.50 3.50
Other Services 3.32 3.57 3.09 3.45 3.95
Public Safety
Police 59.00 59.00 59.00 60.00 59.00
Fire 39.74 39.64 39.64 39.64 39.64
Disaster Preparedness 0.46 0.46 0.59 0.59 0.33
Transportation
Public Works 5.45 5.45 5.45 5.48 5.88
Streets Maintenance 9.85 9.85 10.08 10.32 11.60
Engineering 8.00 9.00 9.00 9.00 8.00
Health and welfare
Environmental 2.50 3.00 2.59 2.59 1.50
Housing 3.00 2.25 2.25 2.50 2.50
Waste Management 0.33 0.33 1.08 1.08 1.83
Culture and leisure services
Parks Community Services 15.60 15.55 16.25 15.50 16.81
Park Maintenance 8.94 9.36 10.10 11.65 13.07
Parks/ Facilities Management 2.00 2.25 2.25 3.45 4.30
Library Services 0.42 0.42 0.37 0.37 0.38
Heritage & Cultural Arts 3.59 3.26 3.70 5.92 4.40
Community Development
Planning & Building 19.25 20.95 22.45 23.45 24.45
Total 200.45 204.84 208.39 216.74 219.23
Source: City of Dublin Administrative Services Department
Note: Include Full Time, Part Time, Temporary, and Contract Employees
CITY OF DUBLIN CALIFORNIA
Full-Time Equivalent City and Contract Government Employees by Function
Last Ten Fiscal Years
202
2016 2017 2018 2019 2020
6.34 7.34 7.34 5.90 5.95
11.75 11.75 11.75 12.00 12.00
3.50 3.50 3.50 3.80 3.80
4.20 4.93 4.54 5.75 6.35
61.00 61.00 63.00 65.00 67.00
39.91 39.99 39.99 39.58 39.58
0.33 0.33 0.33 0.25 0.25
5.45 6.45 6.45 6.35 6.35
14.10 16.25 17.31 22.27 22.27
8.00 10.75 10.75 9.25 9.25
1.50 3.00 3.00 2.60 2.60
2.56 1.75 1.75 1.90 1.90
1.83 0.33 0.33 0.35 0.35
16.10 17.80 17.80 11.99 10.63
15.55 15.68 17.45 17.27 17.27
4.96 4.74 3.92 6.11 5.22
0.38 0.42 0.42 0.00 0.00
3.50 4.30 4.30 5.00 5.00
24.64 26.39 25.91 28.38 29.14
225.60 236.70 239.84 243.75 244.91
203
Function/Program 2011 2012 2013
Police:
Calls for Service 39,474 38,580 34,966
Citations Issued 9,023 9,229 8,699
Arrests 1,624 1,542 1,419
Fire:
Emergency calls 2,244 2,323 2,688
Inspections 2,833 3,308 3,538
Building Plan Reviews and Consultations 498 1,319 1,492
Public Works:
Bike Path Maintenance (hours) 603 625 668
Street Sign Maintenance (number of signs) 258 313 205
Curb Painting (linear feet) 5,464 6,523 6,400
Replace Street Asphalt (square feet) 57,000 26,000 37,000
Street Sweeping (curb miles) 5,294 5,519 5,901
Parks and Community Services:
Museum Visitors 3,680 4,415 8,612
Afterschool Recreation (participants/day) 240 27 228
Preschool Classes Participants 628 610 571
Youth Basketball League Participants 710 729 812
Senior Center Average Daily Attendance 206 217 211
Community Development:
Planning Applications 66 62 77
Building Permits 1,471 2,110 2,425
Building Inspections 11,308 15,961 26,045
Source: City of Dublin
CITY OF DUBLIN CALIFORNIA
Operating Indicators by Function/Program
Last Ten Fiscal Years
204
2014 2015 2016 2017 2018 2019 2020
34,567 32,496 35,005 38,688 38,568 38,480 34,643
8,530 7,175 7,087 7,164 7,051 7,968 5,806
1,934 1,091 1,225 1,315 1,653 1,821 1,510
2,859 2,667 2,734 2,848 3,247 3,245 3,443
3,664 3,948 4,304 4,141 4,034 4,284 2,964
1,561 1,072 1,633 1,654 1,195 797 490
749 416 799 695 742 969 863
426 368 510 359 1,838 2,569 546
5,808 32,512 2,922 3,846 3,216 3,893 14,502
18,112 15,800 31,000 73,436 75,087 1,636,012 2,270,000
5,931 5,953 5,993 6,026 8,033 7,936 7,210
8,256 5,272 3,591 3,525 3,422 2,757 2,011
322 364 363 367 405 416 334
430 327 335 158 131 160 185
911 994 1,074 1,156 1,035 1,075 792
220 233 236 274 279 299 245
59 56 52 58 48 31 40
2,443 2,068 2,812 2,806 2,803 2,350 1,866
22,345 20,197 20,784 25,186 25,574 20,951 13,339
205
2011 2012 2013
Function/Program
Public safety:
Police stations 1 1 1
Fire stations 3 3 3
Public works:
Street Lights 3,780 4,281 4,354
Miles of Streets 113 115 116
Miles of curbs 223 237 242
Traffic Signals 85 89 91
City Street Trees 7,418 7,268 7,408
City Landscape (acres) 57 65 67
Parks and recreation:
Number of Community Facilities 7 7 7
Number of City Parks 18 18 18
Acres of City Parks 209 209 209
Acres of Open Space 125 125 125
Source: City of Dublin
CITY OF DUBLIN, CALIFORNIA
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
206
2014 2015 2016 2017 2018 2019 2020
1 1 1 1 1 1 1
3 3 3 3 3 3 3
4,513 4,520 4,530 4,540 4,631 4,631 4,736
120 120 120 127 128 151 151
248 248 248 254 256 305 305
93 93 94 95 97 98 98
7,477 7,521 8,556 8,526 8,776 9,263 12,355
69 70 74 74 103 107 150
7 6 6 7 7 7 7
20 20 20 18 20 21 21
220 220 220 277 282 289 289
125 125 125 125 125 125 125
Fiscal Year
207
Business Name Business Category
Ashley Homestore Home Furnishings
Best Buy Electronics/Appliances Stores
Carl Zeiss Ophthalmic Systems Health/Medical
Chevrolet Motor Vehicle Dealer
Dougherty Road Shell Service Station
Dick's Sporting Goods Sporting Goods/Bike Store
Dublin Hyundai Motor Vehicle Dealer
Dublin Mazda Motor Vehicle Dealer
Dublin Nissan Motor Vehicle Dealer
Dublin Toyota Motor Vehicle Dealer
Dublin Volkswagen Motor Vehicle Dealer
Fallon Gateway Chevron Service Station
Graybar Electric Electrical Equipment
Hacienda Crossings Shell Service Stations
HD Supply Lumber/Building Materials
Henry Schein Health/Medical
Honda Motor Vehicle Dealer
Lowes Lumber/Building Materials
Nordstrom Rack Family Apparel
Pace Supply Plumbing/Electrical Supplies
Safeway Grocery/Liquor Store
Safeway Gas Service Stations
Target Discount Department Store
Tesla Motors Motor Vehicle Dealer
Whole Foods Market Grocery/Liquor Store
Source: City of Dublin Office of Economic Development
CITY OF DUBLIN, CALIFORNIA
Top 25 Sales Tax Producers
2019-20
208
General
Date of Incorporation February 1, 1982
Form of Government Council/ Manager
Total Population (Estimated per the California Dept. of Finance, January 1, 2020) 65,716
Number of Registered Voters 32,013
Employees, City, and Contract (Full Time Equivalent) 244.91
Area (Square Miles)14.91
Parks and Recreation
Parks 21
Acres in Parks 289
Acres in Open Space 125
Public Education
Elementary Schools 7
K-8 1
Middle Schools 2
High School 1
Continuation High School 1
Education Center 1
School Enrollment 12,977
Police Protection
Number of Stations 1
Police Personnel (Full Time Equivalent) 67
Fire Protection
Number of Stations 3
Fire Personnel (Full Time Equivalent) 39.58
Community Facilities
Dublin Civic Center 1
Dublin Senior Center 1
Dublin Heritage Center 1
Dublin Public Library 1
Shannon Community Center 1
Emerald Glen Activity Center 1
The Wave (Aquatics Facility)1
Source: City of Dublin
CITY OF DUBLIN, CALIFORNIA
Miscellaneous Statistical Data
June 30, 2020
209
City of
Dublin
Dublin, California
Auditors’ Communication with
Those Charged with Governance
For the year ended June 30, 2020
December 11, 2020
To The Honorable Mayor and Members
of the City Council of the City of Dublin
Dublin, California
We have audited the financial statements of the governmental activities, each major fund, and the
aggregate remaining fund information of the City of Dublin, California (City) for the year ended June 30,
2020. Professional standards require that we provide you with information about our responsibilities
under generally accepted auditing standards, Government Auditing Standards, as well as certain
information related to the planned scope and timing of our audit.
Our Responsibilities under U.S. Generally Accepted Auditing Standards and Government Auditing
Standards
As stated in our engagement letter dated April 17, 2020, our responsibility, as described by professional
standards, is to express opinions about whether the financial statements prepared by management with
your oversight are fairly presented, in all material respects, in conformity with U.S. generally accepted
accounting principles. Our audit of the financial statements does not relieve you or management of your
responsibilities.
As part of our audit, we considered the internal control of the City. Such considerations were solely for
the purpose of determining our audit procedures and not to provide any assurance concerning internal
control.
As part of obtaining reasonable assurance about whether the financial statements are free from material
misstatement, we performed tests of the City’s compliance with certain provisions of laws, regulations,
contracts, and grants. However, providing an opinion on compliance with those provisions is not an
objective of our audit.
Planned Scope and Timing of the Audit
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements; therefore, our audit involves judgment about the number of transactions to be
examined and the areas to be tested.
Our audit included obtaining an understanding of the city and its environment, including internal
control, sufficient to assess the risks of material misstatement of the financial statements and to design
the nature, timing, and extent of further audit procedures. Material misstatements may result from (1)
errors, (2) fraudulent financial reporting, (3) misappropriation of assets, or (4) violations of laws or
governmental regulations that are attributable to the entity or to acts by management or employees
acting on behalf of the entity.
We performed the audit according to the timing previously communicated to you on the engagement
letter.
To The Honorable Mayor and Members
of the City Council of the City of Dublin
Dublin, California
Page 2
Significant Audit Matters
Qualitative Aspects of Accounting Practices
Management is responsible for the selection and use of appropriate accounting policies. The significant
accounting policies used by the City are described in Note 1 to the financial statements.
We noted no transactions entered into by the City during the year for which there is a lack of authoritative
guidance or consensus. All significant transactions have been recognized in the financial statements in
the proper period.
Accounting estimates are an integral part of the financial statements prepared by management and are
based on management’s knowledge and experience about past and current events and assumptions
about future events. Certain accounting estimates are particularly sensitive because of their significance
to the financial statements and because of the possibility that future events affecting them may differ
significantly from those expected. The most sensitive estimates affecting the City’s financial statements
were:
Depreciable lives and estimated residual value of property and equipment
Investments valuations
Allowance for uncollectible accounts
Accumulated depreciation
Pension plans (actuarial assumptions)
Net Other Post-employment Benefits (OPEB) plan (actuarial assumptions)
Certain financial statement disclosures are particularly sensitive because of their significance to financial
statement users. The most sensitive disclosure(s) affecting the financial statements were:
Summary of Significant Accounting Policies
Cash and Investments
Long Term Debt
Capital Assets
Employee Retirement Plans
Other Postemployment Benefits (OPEB) Plan
Commitments and Contingencies
The financial statement disclosures are neutral, consistent, and clear.
To The Honorable Mayor and Members
of the City Council of the City of Dublin
Dublin, California
Page 3
Difficulties Encountered in Performing the Audit
We encountered no significant difficulties in dealing with management in performing and completing
our audit.
Corrected and Uncorrected Misstatements
Professional standards require us to accumulate all known and likely misstatements identified during
the audit, other than those that are clearly trivial, and communicate them to the appropriate level of
management. Management has recorded all proposed adjustments.
Disagreements with Management
For purposes of this letter, a disagreement with management is a financial accounting, reporting, or
auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial
statements or the auditor’s report. We are pleased to report that no such disagreements arose during the
course of our audit.
Management Representations
We have requested certain representations from management that are included in the management
representation letter dated December 11, 2020.
Management Consultations with Other Independent Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting
matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves
application of an accounting principle to the City’s financial statements or a determination of the type of
auditor’s opinion that may be expressed on those statements, our professional standards require the
consulting accountant to check with us to determine that the consultant has all the relevant facts. To our
knowledge, there were no such consultations with other accountants.
Other Audit Findings or Issues
We generally discuss a variety of matters, including the application of accounting principles and auditing
standards, with management each year prior to retention as the City’s auditors. However, these
discussions occurred in the normal course of our professional relationship and our responses were not a
condition to our retention.
Other Matters
We applied certain limited procedures to the required supplementary information (RSI) that
supplements the basic financial statements. Our procedures consisted of inquiries of management
regarding 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 did not audit the RSI and do not express
an opinion or provide any assurance on the RSI.
We were engaged to report on the combining and individual fund financial statements and budgetary
comparison schedules which accompany the financial statements but are not RSI. With respect to this
supplementary information, we made certain inquiries of management and evaluated the form, content,
and methods of preparing the information to determine that the information complies with accounting
principles generally accepted in the United States of America, the method of preparing it has not changed
To The Honorable Mayor and Members
of the City Council of the City of Dublin
Dublin, California
Page 4
from the prior period, and the information is appropriate and complete in relation to our audit of the
financial statements. We compared and reconciled the supplementary information to the underlying
accounting records used to prepare the financial statements or to the financial statements themselves.
We were not engaged to report on the introductory section and statistical section, which accompany the
financial statements but are not RSI. Such information has not been subjected to the auditing procedures
applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or
provide any assurance on it.
Restriction on Use
This information is intended solely for the use of 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.
Very truly yours,
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
Measure B Funds
Dublin, California
Financial Statements and
Independent Auditor’s Reports
For the year ended June 30, 2020
City of Dublin
Alameda County Transportation Commission – Measure B Funds
Financial Statements
For the year ended June 30, 2020
Table of Contents
Page
Independent Auditor’s Report .............................................................................................................................. 1
Financial Statements:
Balance Sheets ..................................................................................................................................................... 5
Statement of Revenues, Expenditures and
Changes in Fund Balances ............................................................................................................................. 6
Notes to Financial Statements .............................................................................................................................. 7
Supplementary Information:
Budgets and Budgetary Accounting ................................................................................................................. 12
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual:
Measure B – ACTC Streets and Roads Special Revenue Fund .................................................................. 13
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual:
Measure B – ACTC Bikes and Pedestrians Special Revenue Fund ........................................................... 14
Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and
Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards ...................................................................................................................... 15
Independent Auditor’s Report on Measure B Compliance ........................................................................... 17
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Report on the Financial Statements
We have audited the accompanying financial statements of the Measure B Funds (Measure B Funds) of the
City of Dublin, California (City), as of and for the year ended June 30, 2020 and the related notes to the
financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s
internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 2
2
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of the Measure B Funds of the City as of June 30, 2020, and the changes in financial position for the
year then ended in accordance with accounting principles generally accepted in the United States of
America.
Emphasis of Matter
As discussed in Note 1, the financial statements present only the Measure B Funds and do not purport to,
and do not, present fairly the financial positions of the City as of June 30, 2020, and the changes in its
financial position for the year then ended in accordance with accounting principles generally accepted in
the United States of America. Our opinion is not modified with respect to this matter.
Other Matters
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Measure B Funds’ financial statements. The budgetary comparison information is presented
for purposes of additional analysis and are not a required part of the financial statements.
The budgetary comparison information is the responsibility of management and was derived from and
relates directly to the underlying accounting and other records used to prepare the financial statements.
Such information has been subjected to the auditing procedures applied in the audit of the financial
statements and certain additional procedures, including comparing and reconciling such information
directly to the underlying accounting and other records used to prepare the financial statements or to the
financial statements themselves, and other additional procedures in accordance with auditing standards
generally accepted in the United States of America. In our opinion, the budgetary comparison information
is fairly stated, in all material respects, in relation to the financial statements as a whole.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 3
3
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 11, 2020,
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 internal control over financial
reporting or on compliance. That report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering City’s internal control over financial reporting and
compliance.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
4
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City of Dublin
Alameda County Transportation Commission- Measure B Funds
Balance Sheet
ACTC ACTC
Streets and Bikes and
Roads Pedestrians Total
ASSETS:
Cash and investments 211,832$ 170,410$ 382,242$
Direct local distribution program receivables 95,537 34,745 130,282
Total assets 307,369$ 205,155$ 512,524$
LIABILITIES AND FUND BALANCES:
Accounts payable and accrued liabilities -$ 2,500$ 2,500$
Total liabilities - 2,500 2,500
Fund Balances:
Restricted 307,369 202,655 510,024
Total fund balances 307,369 202,655 510,024
307,369$ 205,155$ 512,524$
June 30, 2020
Total liabilities and fund balances
See accompanying Notes to Financial Statements.
5
City of Dublin
Alameda County Transportation Commission- Measure B Funds
Statement of Revenues, Expenditures and Changes in Fund Balances
ACTC ACTC
Streets and Bikes and
Roads Pedestrians Total
REVENUES:
Measure B revenue 577,055$ 209,866$ 786,921$
Interest Income 8,944 4,086 13,030
Total revenues 585,999 213,952 799,951
EXPENDITURES:
Bikes and Pedestrians - 7,578 7,578
Streets and Roads 822,068 319,885 1,141,953
Total expenditures 822,068 327,463 1,149,531
EXPENDITURES (236,069) (113,511) (349,580)
FUND BALANCES:
Beginning of year 543,438 316,166 859,604
End of year 307,369$ 202,655$ 510,024$
For the year ended June 30, 2020
REVENUES OVER (UNDER)
See accompanying Notes to Financial Statements.
6
City of Dublin
Alameda County Transportation Commission – Measure B Funds
Notes to Financial Statements, Continued
For the year ended June 30, 2020
7
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
All transactions of the Alameda County Transportation Commission – Measure B Funds (Measure B
Funds) of the City of Dublin, California (City), are included as a separate special revenue fund in the basic
financial statements of the City. Measure B Funds are used to account for the City’s share of revenues
earned and expenditures incurred under the City’s local streets and roads, and bike and pedestrian
programs. The accompanying financial statements are for Measure B Funds only and are not intended to
fairly present the financial position or results of operations of the City.
B. Basis of Accounting and Measurement Focus
The accompanying financial statements are prepared on the modified accrual basis of accounting.
Revenues are generally recorded when measurable and available, and expenditures are recorded when
the related liabilities are incurred.
The accounting and financial reporting treatment applied to a fund is determined by its measurement
focus. All governmental funds are accounted for using a current financial resources measurement focus,
wherein only current assets and current liabilities generally are included on the balance sheet. Operating
statements of governmental funds present increases (revenues and other financing sources) and decreases
(expenditures and other financing uses) in net current assets.
C. Fund Accounting
The operations of the Measure B Funds are accounted for in separate special revenue funds. The funds
are separate accounting entities with a set of self-balancing accounts which comprise their assets,
liabilities, fund equity, revenues, and expenses.
D. Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in
the United States of America requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenditures during the reporting
period. Actual results could differ from those estimates.
2. MEASURE B FUNDS
Under Measure B, approved by the voters of Alameda County in 1986 (ACTA Old Measure B) and in 2000,
(ACTC Measure B), the City receives a portion of the proceeds of an additional one-half cent sales tax to be
used for transportation-related expenditures. This measure was adopted with the intention that the funds
generated by the additional sales tax will not fund expenditures previously paid for by property taxes but,
rather, would be used for additional projects and programs.
Major projects funded by Measure B were as follows:
Streets and Roads Program – To improve, repair, and overlay city streets.
Bike and Pedestrian Program – To provide sidewalk and American Disability Act (ADA) improvements and
to implement the bikeway network.
City of Dublin
Alameda County Transportation Commission – Measure B Funds
Notes to Financial Statements, Continued
For the year ended June 30, 2020
8
3. CASH AND INVESTMENTS
Measure B funds are pooled with the City’s cash and investments in order to generate optimum interest
income.
The City pools its available cash for investment purposes. The City’s cash and cash equivalents are
considered to be cash on hand, demand deposits, and short-term investments with original maturity of three
months or less from date of acquisition. Cash and cash equivalents are combined with investments and
displayed as Cash and Investments.
Measure B Funds had the following cash and investments at June 30, 2020:
Cash and Investments $ 382,242
A. Investments
Under the provisions of the City’s investment policy, and in accordance with California Government
Code, the following investments are authorized:
City of Dublin
Alameda County Transportation Commission – Measure B Funds
Notes to Financial Statements, Continued
For the year ended June 30, 2020
9
3. CASH AND INVESTMENTS, Continued
A. Investments, Continued
In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and
for External Investment Pools, investments were stated at fair value using the aggregate method in all funds
and component units. The City’s investments are carried at fair market value as required by generally
accepted accounting principles. The City accounts for all changes in fair value that occurred during the
year and are reflected in the fund balance for the fiscal year. These investment value changes are
unrealized since the City’s policy is to generally hold and buy investments until maturity dates.
B. Risk Disclosures
Interest Risk – Interest rate risk is the fluctuation in fair value of investments due to changes in interest
rates. The City’s exposure to losses caused by rising interest rates is minimized by limiting the average
maturity of the City’s investment not to exceed five years.
Credit Risk – Credit risk is the risk of loss of value of a security or investment due to downgrade of its
rating due to a change in the ability of the issuer to fulfill its debt obligation. With the exception of U.S.
Treasury securities and authorized pools, no more than 50% of the City’s total investment portfolio will
be invested in a single security type or with a single financial institution to reduce the City’s exposure to
credit risks.
Custodial Credit Risk – The custodial credit risk for an investment is the risk that in the event of the failure of
the counterparty, the City will not be able to recover the value of its investments or collateral securities that
are in the possession of an outside party. None of the City’s investments were subject to custodial credit risk.
C. Local Agency Investment Fund
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by
California Government Code Section 16429 under the oversight of the Treasurer of the State of California.
The City’s investments with LAIF at June 30, 2020, include a portion of the pool funds invested in
Structured Notes and Asset-Backed Securities. These investments include the following:
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 have
embedded forwards or options.
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 mortgages (such as Collateralized Mortgage Obligations) or credit card receivables.
As of June 30, 2020, the City invested in LAIF, which had invested 3.37% of the pool investment funds in
Structured Notes and Asset-Backed Securities as compared to 1.77% in the previous year. The LAIF fair
value factor of 1.004912795 was used to calculate the fair value of the investments in LAIF.
City of Dublin
Alameda County Transportation Commission – Measure B Funds
Notes to Financial Statements, Continued
For the year ended June 30, 2020
10
4. DIRECT LOCAL DISTRIBUTION PROGRAM RECEIVABLES
The receivables represent the Measure B sales tax revenues for the fiscal year received from the Alameda
County Transportation Commission after June 30, 2020.
5. COMMITMENTS AND CONTINGENCIES
The City participates in several grant programs. These programs are subject to further examination by the
grantors and the amount, if any, of expenditures which may be disallowed by the granting agencies cannot
be determined at this time. The City expects such amounts, if any, to be immaterial.
11
SUPPLEMENTARY INFORMATION
City of Dublin
Alameda County Transportation Commission – Measure B Funds
Supplementary Information
For the year ended June 30, 2020
12
1. BUDGETS AND BUDGETARY ACCOUNTING
The City follows these procedures in establishing the budgetary data reflected in the basic financial
statements:
x Prior to June 30 the City Manager submits to the City Council a proposed operating budget for the
fiscal year commencing the following July 1. The operating budget includes proposed expenditures
and the means of financing them.
x The public is given an opportunity to comment on the budget at a noticed City Council meeting. Prior
to July 1, the budget is legally enacted through passage of a resolution.
x During the fiscal year, the City Manager is authorized to transfer budgeted amounts between line
items, provided that the transfer is within the same fund, regardless of the specific department
activity. This include the authority to transfer from the General Fund budgeted contingency amounts
that are approved by the City Council during the budget adoption. The City Manager is authorized
to increase revenue and expenditure budget for various departmental functions, when the net budget
impact is zero.
x The City Manager is authorized to increase the appropriations for the following fiscal year in an
amount not to exceed the amount of funds encumbered or designated by the City Manager as needed
for expenses that did not occur prior to the year-end, but are expected to be expended in the next year
consistent with the original purpose.
x Formal budgetary integration is employed as a management control device during the year for the
general fund, special revenue funds and capital projects funds.
x Budgets for the general, special revenue and capital projects funds are adopted on a basis consistent
with generally accepted accounting principles in the United States.
City of Dublin
Supplementary Information, Continued
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure B - ACTC Streets and Roads
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Measure B revenue 500,000$ 500,000$ 577,055$ 77,055$
Interest Income 354 354 8,944 8,590
Total revenues 500,354 500,354 585,999 85,645
EXPENDITURES:
Streets and Roads 506,640 915,675 822,068 93,607
Total expenditures 506,640 915,675 822,068 93,607
Net change in fund balance (6,286)$ (415,321)$ (236,069) 179,252$
FUND BALANCE:
Beginning of year 543,438
End of year 307,369$
Budgeted Amounts
For the year ended June 30, 2020
13
City of Dublin
Supplementary Information, Continued
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure B - ACTC Bikes and Pedestrians
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Measure B revenue 170,000$ 170,000$ 209,866$ 39,866$
Interest Income 875 875 4,086 3,211
Total revenues 170,875 170,875 213,952 43,077
EXPENDITURES:
Bikes and Pedestrians 17,961 17,961 7,578 10,383
Streets and Roads 123,000 412,782 319,885 92,897
Total expenditures 140,961 430,743 327,463 103,280
Net change in fund balance 29,914 (259,868) (113,511) 146,357
FUND BALANCE:
Beginning of year 316,166
End of year 202,655$
Budgeted Amounts
For the year ended June 30, 2020
14
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN
AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, 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 Measure B Funds (Measure
B Funds) of the City of Dublin, California (City), as of and for the year ended June 30, 2020, and the related
notes to the financial statements, and have issued our report thereon dated December 11, 2020.
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) to determine the 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 the effectiveness of the City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity’s
financial statements will not be prevented, or detected and corrected on a timely basis. A significant
deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a
material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses
may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Measure B Funds’ 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 amounts. However, providing an opinion on compliance
with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion.
The results of our tests disclosed no instances of noncompliance or other matters that are required to be
reported under Government Auditing Standards.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 2
16
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this
communication is not suitable for any other purpose.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
INDEPENDENT AUDITOR’S REPORT ON MEASURE B COMPLIANCE
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Compliance
We have audited the City of Dublin’s (City) compliance with the types of compliance requirements
described in the agreement between the City and Alameda County Transportation Commission applicable
to the City’s Measure B 2000 Funds (Measure B Funds) for the year ended June 30, 2020.
Management’s Responsibility
Compliance with the requirements referred to above is the responsibility of the City’s management.
Auditor’s Responsibility
Our responsibility is to express an opinion on the City’s compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States; the standards applicable to financial audits contained in Government Audit Standards issued
by the Comptroller General of the United States; and the agreement between the City and Alameda County
Transportation Commission. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the compliance requirements referred to above
that could have a material effect on the Measure B Funds occurred. An audit also includes examining, on a
test basis, evidence about the City’s compliance with those requirements and performing such other
procedures as we considered necessary in the circumstances. We believe that our audit provides a
reasonable basis for our opinion. Our audit does not provide a legal determination of the City’s compliance
with those requirements.
Opinion
In our opinion the City complied, in all material respects, with the compliance requirements referred to
above that are applicable to the Measure B Funds for the year ended June 30, 2020.
Other Matter
Under Measure B, approved by the voters of Alameda County in 2000, the City has received under
Alameda County Transportation Improvement Authority Measure B a total of 12 months of revenue from
July 2019 through June 2020. The Local Street and Roads program has received $577,055 and the Bike and
Pedestrian program has received $209,866. This financial statement reflects twelve months of revenue for
the Paratransit, Local Streets and Roads, and the Bike and Pedestrian programs.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 2
18
Internal Control Over Compliance
Management of the City is responsible for establishing and maintaining effective internal control over
compliance with the compliance requirements referred to above. In planning and performing our audit, we
considered the City’s internal control over compliance to determine the auditing procedures for the purpose
of expressing our opinion on compliance, but not for the purpose of expressing an opinion on the
effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the
effectiveness of the City’s internal control over compliance.
A deficiency in internal control over compliance 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, noncompliance on a timely basis. A material weakness in internal control over
compliance is a deficiency, or combination of deficiencies in internal control over compliance, such that
there is a reasonable possibility that material noncompliance with a compliance requirement will not be
prevented, or detected and corrected, on a timely basis.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over
compliance that might be material weaknesses or significant deficiencies. We did not identify any
deficiencies in internal control over compliance that we consider to be material weaknesses. However,
material weaknesses may exist that have not been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing
of internal control over compliance and the results of that testing based on the agreement between the City
and Alameda County Transportation Commission. Accordingly, this report is not suitable for any other
purpose.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
Measure F Alameda
County Vehicle
Registration Fee Fund
Dublin, California
Financial Statements and
Independent Auditor’s Reports
For the year ended June 30, 2020
City of Dublin
Measure F Alameda County Vehicle Registration Fee Fund
Financial Statements
For the year ended June 30, 2020
Table of Contents
Page
Independent Auditor’s Report ............................................................................................................................. 1
Financial Statements:
Balance Sheet ...................................................................................................................................................... 3
Statement of Revenues, Expenditures and
Changes in Fund Balance .............................................................................................................................. 4
Notes to Financial Statements ............................................................................................................................. 5
Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance
and Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards ..................................................................................................................... 11
Independent Auditor’s Report on Measure F Compliance ........................................................................... 13
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Report on the Financial Statements
We have audited the accompanying financial statements of the Measure F Alameda County Vehicle
Registration Fee Fund (VRF Fund) of the City of Dublin, California (City), as of and for the year ended June
30, 2020 and the related notes to the financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s
internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinions.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 2
2
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of the VRF Fund of the City as of June 30, 2020, and the changes in financial position for the year
then ended in accordance with accounting principles generally accepted in the United States of America.
Emphasis of Matter
As discussed in Note 1, the financial statements present only the VRF Fund and do not purport to, and do
not, present fairly the financial positions of the City as of June 30, 2020, and the changes in its financial
position for the year then ended in accordance with accounting principles generally accepted in the United
States of America. Our opinion is not modified with respect to this matter.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 11, 2020,
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 internal control over financial
reporting or on compliance. That report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering City’s internal control over financial reporting and
compliance.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
City of Dublin
Measure F Alameda County Vehicle Registration Fee Fund
Balance Sheet
June 30, 2020
ASSETS:
Cash and investments 239,480$
Direct local distribution program receivables 51,206
Total assets 290,686$
LIABILITIES AND FUND BALANCES:
Other accrued liabilities 6,130$
Total liabilities 6,130
Fund Balance:
Restricted 284,556
Total fund balance 284,556
Total liabilities and fund balance 290,686$
See accompanying Notes to Financial Statements.
3
City of Dublin
Measure F Alameda County Vehicle Registration Fee Fund
Statement of Revenues, Expenditures and Changes in Fund Balance
REVENUES:
Measure F revenues 289,579$
Use of money and property 5,477
Total revenues 295,056
EXPENDITURES:
Contractual services 205,986
Streets and roads 51,737
Total expenditures 257,723
EXPENDITURES 37,333
FUND BALANCE:
Beginning of year 247,223
End of year 284,556$
For the year ended June 30, 2020
REVENUES OVER
See accompanying Notes to Financial Statements.
4
City of Dublin
Measure F Alameda County Vehicle Registration Fee Fund
Notes to Financial Statements
For the year ended June 30, 2020
5
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
All transactions of the Measure F Alameda County Vehicle Registration Fees are reported in a special
revenue fund (VRF Fund) of the City of Dublin, California (City). The special revenue fund is included
as part of the State Construction and Maintenance fund in the basic financial statements of the City. The
Fund is used to account for the City’s revenues earned and expenditures incurred under the City’s
various street maintenance and construction projects. The accompanying financial statements are for
the VRF Fund only and are not intended to fairly present the financial position of the City.
B. Basis of Accounting
The accompanying financial statements are prepared on the modified accrual basis of accounting.
Revenues are generally recorded when measurable and available, and expenditures are recorded when
the related liabilities are incurred.
The accounting and financial reporting treatment applied to a fund is determined by its measurement
focus. All governmental funds are accounted for using a current financial resources measurement focus,
wherein only current assets and current liabilities generally are included on the balance sheet.
Operating statements of governmental funds present increases (revenues and other financing sources)
and decreases (expenditures and other financing uses) in net current assets.
C. Fund Accounting
The operations of the VRF Fund are accounted for as part of the State Construction and Maintenance
Fund. Funds are separate accounting entities with a set of self-balancing accounts which comprise their
assets, liabilities, fund equity, revenues, and expenditures.
D. Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in
the United States of America requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenditures during the reporting
period. Actual results could differ from those estimates.
E. Cash, Cash Equivalents and Investments
The City pools its available cash for investment purposes. The City’s cash and cash equivalents are
considered to be cash on hand, demand deposits, and short-term investments with original maturity of
three months or less from date of acquisition. Cash and cash equivalents are combined with investments
and displayed as Cash and Investments.
City of Dublin
Measure F Alameda County Vehicle Registration Fee Fund
Notes to Financial Statements
For the year ended June 30, 2020
6
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
E. Cash, Cash Equivalents, and Investments, Continued
In accordance with GASB Statement No. 40, Deposit and Investment Disclosures (Amendment of GASB
No. 3), certain disclosure requirements for Deposits and Investment Risks were made in the following
areas:
Interest Rate Risk
Credit Risk
Overall
Custodial Credit Risk
Concentrations of Credit Risk
In addition, other disclosures are specified including use of certain methods to present deposits and
investments, highly sensitive investments, credit quality at year-end and other disclosures.
In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and
for External Investment Pools, highly liquid market investments with maturities of one year or less at time
of purchase are stated at amortized cost.
The City participates in an investment pool managed by the State of California titled Local Agency
Investment Fund (LAIF) which has invested a portion of the pooled funds in Structured Notes and
Asset-Backed Securities. LAIF’s investments are subject to credit risk with the full faith and credit of the
State of California collateralizing these investments. In addition, these Structured Notes and Asset-
Backed Securities are subject to market risk as to change in interest rates.
F. Revenues and Receivables
During the course of normal operations, the fund carries various receivable balances for
intergovernmental revenue and interest. Revenues are recorded when received in cash, except revenues
subject to accrual (generally 60 days after year-end) are recognized when due. The primary revenue
sources, which have been treated as susceptible to accrual by the fund, are Measure F vehicle
registration fees.
City of Dublin
Measure F Alameda County Vehicle Registration Fee Fund
Notes to Financial Statements
For the year ended June 30, 2020
7
2. MEASURE F ALAMEDA COUNTY VEHICLE REGISTRATION FEES
The Measure F Alameda County Vehicle Registration Fee (VRF) Program was approved by the voters in
November 2010, with 63 percent of the vote. The fee will generate about $10.7 million per year by a $10 per
year vehicle registration fee. The collection of the $10 per year vehicle registration fee started in the first
week of May 2011.
The goal of the VRF program is to sustain the County’s transportation network and reduce traffic
congestion and vehicle related pollution. The program includes four categories of projects:
x Local Road Improvement and Repair Program (60 percent)
x Transit for Congestion Relief (25 percent)
x Local Transportation Technology (10 percent)
x Pedestrian and Bicyclist Access and Safety Program (5 percent)
3. CASH AND INVESTMENTS
The VRF Fund’s cash and investments are pooled with the City’s cash and investments in order to generate
optimum interest income.
The City pools its available cash for investment purposes. The City’s cash and cash equivalents are
considered to be cash on hand, demand deposits, and short-term investments with original maturity of
three months or less from date of acquisition. Cash and cash equivalents are combined with investments
and displayed as Cash and Investments.
VRF Fund had the following cash and investments at June 30, 2020:
Cash and Investments $ 239,480
City of Dublin
Measure F Alameda County Vehicle Registration Fee Fund
Notes to Financial Statements
For the year ended June 30, 2020
8
3. CASH AND INVESTMENTS, Continued
A. Investments
The City's Investment Policy and the California Government Code allow the City to invest in the
following, provided the credit ratings of the issuers are acceptable to the City; and approved
percentages and maturities are not exceeded. The table below also identifies certain provisions of the
California Government Code, or the City's Investment Policy where the City's Investment Policy is more
restrictive.
In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain
Investments and for External Investment Pools, investments were stated at fair value using the
aggregate method in all funds and component units. The City’s investments are carried at fair market
value as required by generally accepted accounting principles. The City accounts for all changes in fair
value that occurred during the year and are reflected in the fund balance for the fiscal year. These
investment value changes are unrealized since the City’s policy is to hold and buy investments until
maturity dates.
City of Dublin
Measure F Alameda County Vehicle Registration Fee Fund
Notes to Financial Statements
For the year ended June 30, 2020
9
3. CASH AND INVESTMENTS, Continued
B. Risk Disclosures
Interest Risk – Interest rate risk is the fluctuation in fair value of investment due to changes in interest
rates. The City’s exposure to losses caused by rising interest rates is minimized by limiting the average
maturity of the City’s investment not to exceed five years.
Credit Risk – Credit risk is the risk of loss of value of a security or investment due to downgrade of its
rating due to a change in the ability of the issuer to fulfill its debt obligation. With the exception of U.S.
Treasury securities and authorized pools, no more than 50% of the City’s total investment portfolio will
be invested in a single security type or with a single financial institution to reduce the City’s exposure to
credit risks.
Custodial Credit Risk – The custodial credit risk for an investment is the risk that in the event of the
failure of the counterparty, the City will not be able to recover the value of its investments or collateral
securities that are in the possession of an outside party. None of the City’s investments were subject to
custodial credit risk.
C. Local Agency Investment Fund
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by
California Government Code Section 16429 under the oversight of the Treasurer of the State of
California. The City’s investments with LAIF at June 30, 2020, include a portion of the pool funds
invested in Structured Notes and Asset-Backed Securities. These investments include the following:
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 have embedded forwards or options.
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 mortgages (such as Collateralized Mortgage Obligations) or credit card receivables.
As of June 30, 2020, the City had invested in LAIF, which had invested 3.37% of the pool investment
funds in Structured Notes and Asset-Backed Securities as compared to 1.77% in the previous year. The
LAIF fair value factor of 1.004912795 was used to calculate the fair value of the investments in LAIF.
4. DIRECT LOCAL DISTRIBUTION PROGRAM RECEIVABLES
The receivables represent the Measure F VRF revenues for the fiscal year received from the Alameda
County Transportation Commission after June 30, 2020.
5. COMMITMENTS AND CONTINGENCIES
The City participates in several grant programs. These programs are subject to any further examination by
the grantors and the amount, if any, of expenditures which may be disallowed by the granting agencies
cannot be determined at this time. The City expects such amounts, if any, to be immaterial.
10
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INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, 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 Measure F Alameda County
Vehicle Registration Fee Fund (VRF Fund) of the City of Dublin, California (City), as of and for the year
ended June 30, 2020, and the related notes to the financial statements, and have issued our report thereon
dated December 11, 2020.
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) to determine the 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 the effectiveness of the City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity’s
financial statements will not be prevented, or detected and corrected on a timely basis. A significant
deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a
material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses
may exist that have not been identified.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 2
12
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the VRF Fund’s financial statements are free from
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the
determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The
results of our tests disclosed no instances of noncompliance or other matters that are required to be
reported under Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this
communication is not suitable for any other purpose.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
INDEPENDENT AUDITOR’S REPORT ON MEASURE F COMPLIANCE
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Compliance
We have audited the City of Dublin’s (City) compliance with the types of compliance requirements
described in the agreement between the City and Alameda County Transportation Commission applicable
to the City’s Measure F Alameda County Vehicle Registration Fee Fund (VRF Fund) for the year ended June
30, 2020.
Management’s Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants
applicable to the VRF Fund.
Auditor’s Responsibility
Our responsibility is to express an opinion on City’s compliance based on our audit. 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 of the United States; and the agreement between the City and Alameda County
Transportation Commission applicable to Measure F Alameda County Vehicle Registration Fee Fund.
Those standards and the agreement require that we plan and perform the audit to obtain reasonable
assurance about whether noncompliance with the types of compliance requirements referred to above that
could have a direct and material effect on the VRF Fund. An audit includes examining, on a test basis,
evidence about the City’s compliance with those requirements and performing such other procedures as we
considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for VRF Fund.
However, our audit does not provide a legal determination of the City’s compliance.
Opinion on Measure F Funds
In our opinion, the City complied, in all material respects, with the types of compliance requirements
related to the agreement between the City and Alameda County Transportation Commission applicable to
the VRF Fund for the year ended June 30, 2020.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 2
14
Report on Internal Control Over Compliance
Management of City is responsible for establishing and maintaining effective internal control over
compliance with the types of compliance requirements referred to above. In planning and performing our
audit of compliance, we considered the City’s internal control over compliance to determine the auditing
procedures that are appropriate in the circumstances for the purpose of expressing an opinion on
compliance, but not for the purpose of expressing an opinion on the effectiveness of internal control over
compliance. Accordingly, we do not express an opinion on the effectiveness of City’s internal control over
compliance.
A 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
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 governance.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over
compliance that might be material weaknesses or significant deficiencies. We did not identify any
deficiencies in internal control over compliance that we consider to be material weaknesses. However,
material weaknesses may exist that have not been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing
of internal control over compliance and the results of that testing based on the requirements of the
agreement between the City and Alameda County Transportation Commission applicable to the VRF Fund.
Accordingly, this report is not suitable for any other purpose.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
Measure BB Funds
Dublin, California
Financial Statements and
Independent Auditor’s Reports
For the year ended June 30, 2020
City of Dublin
Alameda County Transportation Commission – Measure BB Funds
Financial Statements
For the year ended June 30, 2020
Table of Contents
Page
Independent Auditor’s Report ............................................................................................................................. 1
Financial Statements:
Balance Sheets ...................................................................................................................................................... 5
Statement of Revenues, Expenditures and
Changes in Fund Balances .............................................................................................................................. 6
Notes to Financial Statements ............................................................................................................................... 7
Supplementary Information:
Budgets and Budgetary Accounting .................................................................................................................. 12
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual:
Measure BB – ACTC Streets and Roads Special Revenue Fund ................................................................. 13
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual:
Measure BB – ACTC Bikes and Pedestrians Special Revenue Fund .......................................................... 14
Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and
Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards ....................................................................................................................... 15
Independent Auditor’s Report on Measure BB Compliance ......................................................................... 17
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Report on the Financial Statements
We have audited the accompanying financial statements of the Measure BB Funds (Measure BB Funds) of the
City of Dublin, California (City), as of and for the year ended June 30, 2020 and the related notes to the
financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes the
design, implementation, and maintenance of internal control relevant to the preparation and fair presentation
of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our
audit in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of
the risks of material misstatement of the financial statements, whether due to fraud or error. In making those
risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal
control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of significant accounting estimates made by management,
as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinions.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 2
2
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of the Measure BB Funds of the City as of June 30, 2020, and the changes in financial position for the
year then ended in accordance with accounting principles generally accepted in the United States of America.
Emphasis of Matter
As discussed in Note 1, the financial statements present only the Measure BB Funds and do not purport to,
and do not, present fairly the financial positions of the City as of June 30, 2020, and the changes in its financial
position for the year then ended in accordance with accounting principles generally accepted in the United
States of America. Our opinion is not modified with respect to this matter.
Other Matters
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Measure BB Funds’ financial statements. The budgetary comparison information is presented
for purposes of additional analysis and are not a required part of the financial statements.
The budgetary comparison information is the responsibility of management and was derived from and
relates directly to the underlying accounting and other records used to prepare the financial statements. Such
information has been subjected to the auditing procedures applied in the audit of the financial statements
and certain additional procedures, including comparing and reconciling such information directly to the
underlying accounting and other records used to prepare the financial statements or to the financial
statements themselves, and other additional procedures in accordance with auditing standards generally
accepted in the United States of America. In our opinion, the budgetary comparison information is fairly
stated, in all material respects, in relation to the financial statements as a whole.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 3
3
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 11, 2020,
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 internal control over financial reporting or
on compliance. That report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering City’s internal control over financial reporting and compliance.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
4
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City of Dublin
Alameda County Transportation Commission- Measure BB Funds
Balance Sheets
June 30, 2020
ACTC ACTC
Streets and Bikes and
Roads Pedestrians Total
ASSETS:
Cash and investments 391,482$ 169,782$ 561,264$
Direct local distribution program receivables 85,615 28,309 113,924
Total assets 477,097$ 198,091$ 675,188$
FUND BALANCES:
Restricted 477,097 198,091 675,188
Total fund balances 477,097 198,091 675,188
Total fund balances 477,097$ 198,091$ 675,188$
See accompanying Notes to Financial Statements.
5
City of Dublin
Alameda County Transportation Commission- Measure BB Funds
Statement of Revenues, Expenditures and Changes in Fund Balances
ACTC ACTC
Streets and Bikes and
Roads Pedestrians Total
REVENUES:
Measure BB revenue 516,735$ 170,864$ 687,599$
Use of money and property 7,848 3,388 11,236
Total revenues 524,583 174,252 698,835
EXPENDITURES:
Bikes and Pedestrians - 20,000 20,000
Streets and Roads 354,100 161,041 515,141
Total expenditures 354,100 181,041 535,141
EXPENDITURES 170,483 (6,789) 163,694
FUND BALANCES:
Beginning of year 306,614 204,880 511,494
End of year 477,097$ 198,091$ 675,188$
For the year ended June 30, 2020
REVENUES OVER (UNDER)
See accompanying Notes to Financial Statements.
6
City of Dublin
Alameda County Transportation Commission – Measure BB Funds
Notes to Financial Statements, Continued
For the year ended June 30, 2020
7
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
All transactions of the Alameda County Transportation Commission – Measure BB Funds (Measure BB
Funds) of the City of Dublin, California (City), are included as a separate special revenue fund in the basic
financial statements of the City. Measure BB Funds are used to account for the City’s share of revenues
earned and expenditures incurred under the City’s paratransit, local streets and roads, and bike and
pedestrian programs. The accompanying financial statements are for Measure BB Funds only and are not
intended to fairly present the financial position or results of operations of the City.
B. Basis of Accounting and Measurement Focus
The accompanying financial statements are prepared on the modified accrual basis of accounting.
Revenues are generally recorded when measurable and available, and expenditures are recorded when
the related liabilities are incurred.
The accounting and financial reporting treatment applied to a fund is determined by its measurement
focus. All governmental funds are accounted for using a current financial resources measurement focus,
wherein only current assets and current liabilities generally are included on the balance sheet. Operating
statements of governmental funds present increases (revenues and other financing sources) and decreases
(expenditures and other financing uses) in net current assets.
C. Fund Accounting
The operations of the Measure BB Funds are accounted for in separate special revenue funds. The funds
are separate accounting entities with a set of self-balancing accounts which comprise their assets,
liabilities, fund equity, revenues, and expenses.
D. Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in
the United States of America requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenditures during the reporting
period. Actual results could differ from those estimates.
2. MEASURE BB FUNDS
Under Measure BB, approved by the voters of Alameda County in 2014, the City receives a portion of the
proceeds of an additional one-half cent sales tax to be used for transportation-related expenditures. This
measure was adopted with the intention that the funds generated by the additional sales tax will not fund
expenditures previously paid for by property taxes but, rather, would be used for additional projects and
programs.
Major projects funded by Measure BB were as follows:
Streets and Roads Program – To improve, repair, and overlay city streets.
Bike and Pedestrian Program – To provide sidewalk and American Disability Act (ADA) improvements and
to implement the bikeway network.
City of Dublin
Alameda County Transportation Commission – Measure BB Funds
Notes to Financial Statements, Continued
For the year ended June 30, 2020
8
3. CASH AND INVESTMENTS
Measure BB funds are pooled with the City’s cash and investments in order to generate optimum interest
income.
The City pools its available cash for investment purposes. The City’s cash and cash equivalents are
considered to be cash on hand, demand deposits, and short-term investments with original maturity of three
months or less from date of acquisition. Cash and cash equivalents are combined with investments and
displayed as Cash and Investments.
Measure BB Funds had the following cash and investments at June 30, 2020:
Cash and Investments $561,264
A. Investments
The City's Investment Policy and the California Government Code allow the City to invest in the
following, provided the credit ratings of the issuers are acceptable to the City; and approved percentages
and maturities are not exceeded. The table below also identifies certain provisions of the California
Government Code, or the City's Investment Policy where the City's Investment Policy is more restrictive.
City of Dublin
Alameda County Transportation Commission – Measure BB Funds
Notes to Financial Statements, Continued
For the year ended June 30, 2020
9
3. CASH AND INVESTMENTS, Continued
A. Investments, Continued
In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and
for External Investment Pools, investments were stated at fair value using the aggregate method in all funds
and component units. The City’s investments are carried at fair market value as required by generally
accepted accounting principles. The City accounts for all changes in fair value that occurred during the
year and are reflected in the fund balance for the fiscal year. These investment value changes are
unrealized since the City’s policy is to generally hold and buy investments until maturity dates.
B. Risk Disclosures
Interest Risk – Interest rate risk is the fluctuation in fair value of investments due to changes in interest
rates. The City’s exposure to losses caused by rising interest rates is minimized by limiting the average
maturity of the City’s investment not to exceed five years.
Credit Risk – Credit risk is the risk of loss of value of a security or investment due to downgrade of its
rating due to a change in the ability of the issuer to fulfill its debt obligation. With the exception of U.S.
Treasury securities and authorized pools, no more than 50% of the City’s total investment portfolio will
be invested in a single security type or with a single financial institution to reduce the City’s exposure to
credit risks.
Custodial Credit Risk – The custodial credit risk for an investment is the risk that in the event of the failure of
the counterparty, the City will not be able to recover the value of its investments or collateral securities that
are in the possession of an outside party. None of the City’s investments were subject to custodial credit risk.
C. Local Agency Investment Fund
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by
California Government Code Section 16429 under the oversight of the Treasurer of the State of California.
The City’s investments with LAIF at June 30, 2020, include a portion of the pool funds invested in
Structured Notes and Asset-Backed Securities. These investments include the following:
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 have
embedded forwards or options.
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 mortgages (such as Collateralized Mortgage Obligations) or credit card receivables.
As of June 30, 2020, the City had invested in LAIF, which had invested 3.37% of the pool investment funds
in Structured Notes and Asset-Backed Securities as compared to 1.77% in the previous year. The LAIF
fair value factor of 1.004912795 was used to calculate the fair value of the investments in LAIF.
City of Dublin
Alameda County Transportation Commission – Measure BB Funds
Notes to Financial Statements, Continued
For the year ended June 30, 2020
10
4. DIRECT LOCAL DISTRIBUTION FROGRAM RECEIVABLES
The receivables represent the Measure BB sales tax revenues for the fiscal year received from the Alameda
County Transportation Commission after June 30, 2020.
5. COMMITMENTS AND CONTINGENCIES
The City participates in several grant programs. These programs are subject to further examination by the
grantors and the amount, if any, of expenditures which may be disallowed by the granting agencies cannot
be determined at this time. The City expects such amounts, if any, to be immaterial.
11
SUPPLEMENTARY INFORMATION
City of Dublin
Alameda County Transportation Commission – Measure BB Funds
Supplementary Information
For the year ended June 30, 2020
12
1. BUDGETS AND BUDGETARY ACCOUNTING
The City follows these procedures in establishing the budgetary data reflected in the basic financial
statements:
x Prior to June 30 the City Manager submits to the City Council a proposed operating budget for the
fiscal year commencing the following July 1. The operating budget includes proposed expenditures
and the means of financing them.
x The public is given an opportunity to comment on the budget at a noticed City Council meeting. Prior
to July 1, the budget is legally enacted through passage of a resolution.
x During the fiscal year, the City Manager is authorized to transfer budgeted amounts between line
items, provided that the transfer is within the same fund, regardless of the specific department
activity. This include the authority to transfer from the General Fund budgeted contingency amounts
that are approved by the City Council during the budget adoption. The City Manager is authorized
to increase revenue and expenditure budget for various departmental functions, when the net budget
impact is zero.
x The City Manager is authorized to increase the appropriations for the following fiscal year in an
amount not to exceed the amount of funds encumbered or designated by the City Manager as needed
for expenses that did not occur prior to the year-end, but are expected to be expended in the next year
consistent with the original purpose.
x Formal budgetary integration is employed as a management control device during the year for the
general fund, special revenue funds and capital projects funds.
x Budgets for the general, special revenue and capital projects funds are adopted on a basis consistent
with generally accepted accounting principles in the United States.
City of Dublin
Supplementary Information, Continued
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure BB - ACTC Streets and Roads
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Measure BB revenue 450,000$ 450,000$ 516,735$ 66,735$
Use of money and property 1,355 1,355 7,848 6,493
Total revenues 451,355 451,355 524,583 73,228
EXPENDITURES:
Streets and Roads 442,000 639,619 354,100 285,519
Total expenditures 442,000 639,619 354,100 285,519
Net change in fund balance 9,355$ (188,264)$ 170,483 358,747$
FUND BALANCE:
Beginning of year 306,614
End of year 477,097$
Budgeted Amounts
For the year ended June 30, 2020
13
City of Dublin
Supplementary Information, Continued
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure BB - ACTC Bikes and Pedestrians
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Measure BB revenue 140,000$ 140,000$ 170,864$ 30,864$
Use of money and property 2,041 2,041 3,388 1,347
Total revenues 142,041 142,041 174,252 32,211
EXPENDITURES:
Bikes and Pedestrians 20,000 20,000 20,000 -
Streets and Roads 100,000 253,541 161,041 92,500
Total expenditures 120,000 273,541 181,041 92,500
Net change in fund balance 22,041$ (131,500)$ (6,789) 124,711$
FUND BALANCE:
Beginning of year 204,880
End of year 198,091$
Budgeted Amounts
For the year ended June 30, 2020
14
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN
AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, 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 Measure BB Funds (Measure
BB Funds) of the City of Dublin, California (City), as of and for the year ended June 30, 2020, and the related
notes to the financial statements, and have issued our report thereon dated December 11, 2020.
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 in relation to Measure BB Funds (internal control) to determine the 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 the effectiveness of the City’s internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial
statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness,
yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material weaknesses
or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in
internal control that we consider to be material weaknesses. However, material weaknesses may exist that
have not been identified.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 2
16
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Measure BB Funds’ 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 amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results
of our tests disclosed no instances of noncompliance or other matters that are required to be reported under
Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and
the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or
on compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
INDEPENDENT AUDITOR’S REPORT ON MEASURE BB COMPLIANCE
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Compliance
We have audited the City of Dublin’s (City) compliance with the types of compliance requirements described
in the agreement between the City and Alameda County Transportation Commission applicable to the City’s
Measure BB Funds (Measure BB Funds) for the year ended June 30, 2020.
Management’s Responsibility
Management of the City is responsible for compliance with the requirements of laws, regulations, contracts,
and grants applicable to its Measure BB Funds.
Auditor’s Responsibility
Our responsibility is to express an opinion on City’s compliance based on our audit. 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 of the United States; and the agreement between the City and Alameda County
Transportation Commission applicable to Measure BB. Those standards and the agreement require that we
plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of
compliance requirements referred to above that could have a direct and material effect on the Measure BB
Funds. An audit includes examining, on a test basis, evidence about the City’s compliance with those
requirements and performing such other procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for Measure BB Funds.
However, our audit does not provide a legal determination of the City’s compliance.
Opinion
In our opinion, the City complied, in all material respects, with the types of compliance requirements related
to the agreement between the City and Alameda County Transportation Commission applicable to Measure
BB for the year ended June 30, 2020.
Other Matter
Under Measure BB, approved by the voters of Alameda County in 2014, the City has received a total of 12
months of revenue from July 2019 through June 2020. The Local Street and Roads program has received
$516,735, and the Bike and Pedestrian program has received $170,864.
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
Page 2
18
Internal Control Over Compliance
Management of City is responsible for establishing and maintaining effective internal control over
compliance with the types of compliance requirements referred to above. In planning and performing our
audit of compliance, we considered the City’s internal control over compliance to determine the auditing
procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance,
but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance.
Accordingly, we do not express an opinion on the effectiveness of City’s internal control over compliance.
A 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 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 governance.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over compliance
that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal
control over compliance that we consider to be material weaknesses. However, material weaknesses may
exist that have not been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of
internal control over compliance and the results of that testing based on the requirements of agreement
between the City and Alameda County Transportation Commission applicable to Measure BB. Accordingly,
this report is not suitable for any other purpose.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
Transportation
Development
Act Fund
Dublin, California
Financial Statements and
Independent Auditor’s Reports
For the year ended June 30, 2020
City of Dublin
Transportation Development Act Fund
Financial Statements
For the year ended June 30, 2020
Table of Contents
Page
Independent Auditor’s Report ................................................................................................................................. 1
Financial Statements:
Balance Sheet .......................................................................................................................................................... 3
Statements of Revenues, Expenditures and
Changes in Fund Balances ............................................................................................................................. 4
Notes to Financial Statements ............................................................................................................................. 5
Independent Auditor’s Report on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards ................................................................ 7
Independent Auditor’s Report on
Transportation Development Act Funds Compliance .................................................................................. 9
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of City Council
of the City of Dublin
Dublin, California
Report on the Financial Statements
We have audited the accompanying financial statements of the Transportation Development Act Fund
(TDA Fund) of the City of Dublin, California (City), as of and for the year ended June 30, 2020, and the
related notes to the financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s
internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinions.
To the Honorable Mayor and Members of City Council
of the City Dublin
Dublin, California
Page 2
2
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of the TDA Fund of the City as of June 30, 2020, and the changes in financial position for the year
then ended in accordance with accounting principles generally accepted in the United States of America.
Emphasis of Matter
As discussed in Note 1, the financial statements present only the TDA Fund and do not purport to, and do
not, present fairly the financial positions of the City as of June 30, 2020, and the changes in its financial
position for the year then ended in accordance with accounting principles generally accepted in the United
States of America. Our opinion is not modified with respect to this matter.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 11, 2020,
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 internal control over financial
reporting or on compliance. That report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering City’s internal control over financial reporting and compliance.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
City of Dublin
Transportation Development Act Fund
Balance Sheet
June 30, 2020
2020
ASSETS
Intergovernmental receivables 72,503$
Total assets 72,503$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Due to City of Dublin 71,773$
Total liabilities 71,773
Deferred inflows of resources:
Unavailable revenues 72,503
Fund Balances:
Unassigned (71,773)
Total liabilities, deferred inflows of
resources, and fund balances (71,773)$
See accompanying Notes to Financial Statements.
3
City of Dublin
Transportation Development Act Fund
Statements of Revenues, Expenditures and Changes in Fund Balances
For the year ended June 30, 2020
2020
Revenues:
TDA Revenues -$
Total Revenues -
Expenditures:
Citywide Bicycle and Pedestrians Improvements 72,503
Total Expenditures 72,503
Net change in fund balances (72,503)
Fund Balances:
Beginning of year 730
End of year (71,773)$
See accompanying Notes to Financial Statements.
4
City of Dublin
Transportation Development Act Fund
Notes to Financial Statements
For the year ended June 30, 2020
5
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
The City of Dublin, California (City) has received funds under the Transportation Development Act
(TDA), Article 3.0 which provides funding for the Update Bike and Pedestrian Master Plan project. The
project is funded by the Metropolitan Transportation Commission (MTC). All transactions of the
Transportation Development Act Fund (TDA Fund) of the City are included as a separate capital
project fund in the basic financial statements of the City. The financial statements are intended to
present the TDA Fund, and not the financial position and the changes in fund balances of the City as a
whole.
B. Basis of Accounting and Measurement Focus
The accompanying financial statements are prepared on the modified accrual basis of accounting.
Revenues are generally recorded when measurable and available (generally 60 days after year-end),
and expenditures are recorded when the related liabilities are incurred.
The accounting and financial reporting treatment applied to a fund is determined by its measurement
focus. All governmental funds are accounted for using a current financial resources measurement
focus, wherein only current assets and current liabilities generally are included on the balance sheet.
Operating statements of governmental funds present increases (revenues and other financing sources)
and decreases (expenditures and other financing uses) in net current assets.
C. Fund Accounting
The operations of the TDA Fund are accounted for in a separate capital projects fund. The fund is a
separate accounting entity with a set of self-balancing accounts which comprise its assets, liabilities,
fund equity, revenues, and expenses.
D. Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in
the United States of America requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date
of the financial statements and the reported amounts of revenues and expenditures during the
reporting period. Actual results could differ from those estimates.
City of Dublin
Transportation Development Act Fund
Notes to Financial Statements
For the year ended June 30, 2020
6
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
E. Receivables
During the course of normal operations, the fund carries various receivable balances for unreimbursed
eligible TDA expenditures.
F. Deferred inflows of resources
In addition to liabilities, the statement of financial position will sometimes report a separate section for
deferred inflows of resources. This separate financial statement element, deferred inflows of resources,
represents an acquisition of net position that applies to a future period(s) and so will not be recognized
as an inflow of resources (revenue) until that time.
G. Fund balance
The TDA fund balance is restricted by third party to be used in accordance with the Transportation
Development Act (TDA). The fund had a deficit balance and reported the fund balance as unassigned
as of June 30, 2020. The TDA funds are distributed on a reimbursement basis for which a claim has yet
to be filed, which resulted in the fund having a deficit balance.
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN
AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of City Council
of the City of Dublin
Dublin, 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 Transportation
Development Act Fund (TDA Fund) of the City of Dublin, California (City), as of and for the year ended
June 30, 2020, and the related notes to the financial statements, and have issued our report thereon dated
December 11, 2020.
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 in relation to the TDA Fund (internal control) to determine the 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 the effectiveness of the City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity’s
financial statements will not be prevented, or detected and corrected on a timely basis. A significant
deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a
material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses
may exist that have not been identified.
To the Honorable Mayor and Members of City Council
of the City of Dublin
Dublin, California
Page Two
8
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the TDA Fund’s financial statements are free from
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the
determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The
results of our tests disclosed no instances of noncompliance or other matters that are required to be reported
under Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this
communication is not suitable for any other purpose.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
INDEPENDENT AUDITOR’S REPORT ON TRANSPORTATION
DEVELOPMENT ACT FUNDS COMPLIANCE
To the Honorable Mayor and Members of City Council
of the City of Dublin
Dublin, California
Compliance
We have audited the City of Dublin’s (City) compliance with the types of compliance requirements
described in Section 6666 of the Rules and Regulations of the California Administrative Code in the Transportation
Development Act Statutes and Administrative Code for 1987 (Act) and the allocation instructions and
resolutions of the Metropolitan Transportation Commission applicable to the City’s Transportation
Development Act Fund (TDA Fund) for the year ended June 30, 2020.
Management’s Responsibility
Compliance with the requirements referred to above is the responsibility of the City’s management.
Auditor’s Responsibility
Our responsibility is to express an opinion on the City’s compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States; the standards applicable to financial audits contained in Government Audit Standards issued
by the Comptroller General of the United States; Section 6666 of the Rules and Regulations of the California
Administrative Code in the Transportation Development Act Statutes and Administrative Code for 1987 (the Act)
and the allocation instructions and resolutions of the Metropolitan Transportation Commission. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether
noncompliance with the compliance requirements referred to above that could have a material effect on the
TDA Fund occurred. An audit also includes examining, on a test basis, evidence about the City’s
compliance with those requirements and performing such other procedures as we considered necessary in
the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does
not provide a legal determination of the City’s compliance with those requirements.
Opinion
In our opinion the City complied, in all material respects, with the compliance requirements referred to above
that are applicable to the Transportation Development Act funds for the year ended June 30, 2020.
To the Honorable Mayor and Members of City Council
of the City of Dublin
Dublin, California
10
Internal Control Over Compliance
Management of the City is responsible for establishing and maintaining effective internal control over
compliance with the compliance requirements referred to above. In planning and performing our audit, we
considered the City’s internal control over compliance to determine the auditing procedures for the purpose
of expressing our opinion on compliance, but not for the purpose of expressing an opinion on the
effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the
effectiveness of the City’s internal control over compliance.
A deficiency in internal control over compliance 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, noncompliance on a timely basis. A material weakness in internal control over compliance is a
deficiency, or combination of deficiencies in internal control over compliance, such that there is a reasonable
possibility that material noncompliance with a compliance requirement will not be prevented, or detected
and corrected, on a timely basis.
Our consideration of internal control over compliance 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
deficiencies, significant deficiencies, or material weaknesses in internal control over compliance. We did not
identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as
defined above.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of
internal control over compliance and the results of that testing based on the Act. Accordingly, this report is
not suitable for any other purpose.
This report is intended for the information of the Mayor, City Council Members, management, and the
Metropolitan Transportation Commission and is not intended to be and should not be used by anyone other
than these specified parties.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
Dublin, California
Independent Accountants’ Report on
Agreed-Upon Procedures Applied to
Appropriations Limit Schedule
For the fiscal year ending June 30, 2021
INDEPENDENT ACCOUNTANTS’ REPORT ON LIMITED PROCEDURES
REVIEW OF APPROPRIATIONS LIMIT UNDER ARTICLE XIIIB
OF THE CALIFORNIA CONSTITUTION
To the Honorable Mayor and Members of City Council of the City of Dublin
Dublin, California
We have performed the procedures enumerated below to the accompanying Appropriations Limit Schedule
of the City of Dublin (City) for the fiscal year ending June 30, 2021. These procedures, which were agreed to
by the City and the League of California Cities (as 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 of Section 1.5 of Article XIII-B of the
California Constitution. The City management is responsible for the Appropriations Limit Schedule. This
agreed-upon procedures engagement was conducted in accordance with attestation standards established
by the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the
responsibility of those parties specified in this report. Consequently, we make no representation regarding
the sufficiency of the procedures described below either for the purpose for which this report has been
requested or any other purpose.
The procedures performed and our findings are described below:
1. We obtained the completed worksheets used by the City to calculate its appropriations limit for the
fiscal year ending June 30, 2021, and determined that the limit and annual calculation factors were
adopted by resolution of City Council. We also determined that the population and inflation
options were selected by a recorded vote of City Council.
Findings: No exceptions were noted as a result of our procedures.
2. For the accompanying Appropriations Limit Schedule, we added the prior year’s limit to the total
adjustments, and agreed the resulting amount to the current year’s limit.
Findings: No exceptions were noted as a result of our procedures.
3. We agreed the current year information presented in the accompanying Appropriations Limit
Schedule to corresponding information in worksheets used by the City.
Findings: No exceptions were noted as a result of our procedures.
4. We agreed the prior year appropriations limit presented in the accompanying Appropriations Limit
Schedule to the prior year appropriations limit adopted by the City Council during the prior year.
Findings: No exceptions were noted as a result of our procedures.
To the Honorable Mayor and Members of City Council
of the City of Dublin
Dublin, California
Page 2
We were not engaged to and did not conduct an examination, the objective of which would be the
expression of an opinion on the accompanying Appropriation Limit Schedule. Accordingly, we do not
express such an opinion. Had we performed additional procedures, other matters might have come to our
attention that would have been reported to you. No procedures have been performed with respect to the
determination of the appropriation limit for the base year, as defined by Article XIII-B of the California
Constitution.
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.
Badawi and Associates
Certified Public Accountants
Berkeley, California
December 11, 2020
City of Dublin
Appropriations Limit Schedule
Amount Source
A. Appropriations limit for the year ended June 30, 2020 372,487,106$ Prior year resolution
B. Calculation Factors:
1. Population increase % 1.0282 State Department of Finance
2. Inflation increase %1.0393 County of Alameda
3. Total adjustment factor % 1.0686 B1*B2
C. Annual Adjustment Increase 25,552,615 [(B3-1)A)]
D. Other Adjustments -
E. Total Adjustments 25,552,615 (C+D)
F.Appropriations limit for the year ending June 30, 2021 398,039,721$ (A+E)
For the fiscal year ending June 30, 2021
City of Dublin
Notes to Appropriations Limit Schedule
For the fiscal year ending June 30, 2021
1. 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 is subject to a limited procedures review in connection with the
annual audit.
2. METHOD OF CALCULATION
Under Section 10.5 of Article XIIIB, for fiscal years beginning on or after July 1990, the appropriations limit
is required to be calculated based on the limit for the fiscal year 1986-1987, adjusted for the inflation and
population factors discussed in Notes 3 and 4 below.
3. INFLATION FACTORS
A California governmental agency may adjust its appropriations limit by 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 of Dublin for the fiscal year 2020-2021
represents the percentage change in the local assessment roll from the preceding year due to the change of
local nonresidential construction.
4. POPULATION FACTORS
A California governmental agency may adjust its appropriations limit by either the annual percentage
change of the jurisdiction’s own population, or the annual percentage change in population in the County
where the jurisdiction is located. The factor adopted by the City of Dublin for fiscal year 2020-2021
represents the annual percentage change in population for the City.
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. There were no adjustments made for fiscal year ending June 30, 2021.