HomeMy WebLinkAboutFY2020-21 CAFR
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDING JUNE 30, 2021
Rainbow over City Hall, San Rafael, California
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For the Fiscal Year Ended
June 30, 2021
City of San Rafael, California
1400 Fifth Avenue
San Rafael, California 94901
Prepared by the Finance Department of the City of San Rafael
Volunteer Broom Pull
INTRODUCTORY SECTION
CITY OF SAN RAFAEL, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended June 30, 2021
Table of Contents
INTRODUCTORY SECTION
TABLE OF CONTENTS
Letter of Transmittal .................................................................................................................................... v
Mission Statement and Vision Statement ................................................................................................... xi
City Council and Staff ............................................................................................................................... xii
Location Map ............................................................................................................................................ xiii
Organizational Chart ................................................................................................................................. xiv
Certificate of Achievement for Excellence in Financial Reporting ........................................................... xv
FINANCIAL SECTION
Independent Auditor's Report .................................................................................................................. 1
Management’s Discussion and Analysis .................................................................................................. 5
Basic Financial Statements:
Government-wide Financial Statements:
Statement of Net Position ............................................................................................................. 25
Statement of Activities .................................................................................................................. 26
Fund Financial Statements:
Major Governmental Funds:
Balance Sheet ............................................................................................................................ 30
Balance Sheet - Reconciliation of Governmental Fund Balances to
Net Position of Governmental Activities .............................................................................. 31
Statement of Revenues, Expenditures, and Changes in Fund Balances .................................... 32
Reconciliation of the Net Change in Fund Balances - Total Governmental
Funds with the Statement of Activities ................................................................................. 33
Proprietary Funds:
Statement of Net Position .......................................................................................................... 36
Statement of Revenues, Expenses, and Changes in Fund Net Position .................................... 37
Statement of Cash Flows ........................................................................................................... 38
i
CITY OF SAN RAFAEL, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended June 30, 2021
Table of Contents
FINANCIAL SECTION (Continued)
Fiduciary Funds:
Statement of Fiduciary Net Position ......................................................................................... 40
Statement of Changes in Fiduciary Net Position ....................................................................... 41
Notes to Basic Financial Statements .................................................................................................. 43
Required Supplementary Information:
Schedule of the City’s Proportionate Share of the Net Pension Liability ..................................... 94
Schedule of Contributions – Defined Benefit Pension Plan ......................................................... 95
Schedule of Changes in Net OPEB Liability and Related Ratios ............................................... 102
Schedule of Contributions – OPEB ............................................................................................ 103
Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual -
Budgetary Basis
General Fund ........................................................................................................................... 110
Traffic and Housing Mitigation Special Revenue Fund .......................................................... 111
Gas Tax Special Revenue Fund ............................................................................................... 112
Supplementary Information:
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual
Budgetary Basis
Essential Facilities Capital Projects Fund ................................................................................ 114
Non-major Governmental Funds:
Combining Balance Sheets ......................................................................................................... 118
Combining Statements of Revenues, Expenditures, and Changes
in Fund Balance ................................................................................................................... 124
Budgeted Non-major Governmental Funds:
Combining Schedules of Revenues, Expenditures, and Changes
in Fund Balances – Budget and Actual ...................................................................... 130
ii
CITY OF SAN RAFAEL, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended June 30, 2021
Table of Contents
FINANCIAL SECTION (Continued)
Internal Service Funds:
Combining Statements of Net Position ....................................................................................... 140
Combining Statements of Revenues, Expenses and Changes in Fund Net Position ................... 142
Combining Statements of Cash Flows ........................................................................................ 144
STATISTICAL SECTION
Financial Trends:
Net Position by Component – Last Ten Fiscal Years ....................................................................... 150
Changes in Net Position – Last Ten Fiscal Years ............................................................................. 152
Fund Balances of Governmental Funds – Last Ten Fiscal Years ..................................................... 156
Changes in Fund Balance of Governmental Funds – Last Ten Fiscal Years .................................... 158
Revenue Capacity:
Assessed and Estimated Actual Value of Taxable Property – Last Ten Fiscal Years ...................... 160
Property Tax Rates - All Overlapping Governments– Last Ten Fiscal Years .................................. 161
Property Tax Rates – Direct & Overlapping Governments –
Last Ten Fiscal Years (Rate Per $100 of Assessed Value) .......................................................... 162
Principal Property Tax Payers – Current Year and Nine Years Ago ................................................ 163
Property Tax Levies and Collections – Last Ten Fiscal Years ......................................................... 164
Debt Capacity:
Ratio of Outstanding Debt by Type – Last Ten Fiscal Years ........................................................... 165
Computation of Direct and Overlapping Debt .................................................................................. 166
Computation of Legal Bonded Debt Margin .................................................................................... 167
Revenue Bond Coverage Parking Facility – Last Ten Fiscal Years ................................................. 168
iii
CITY OF SAN RAFAEL, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended June 30, 2021
Table of Contents
STATISTICAL SECTION (Continued)
Demographic and Economic Information:
Demographic and Economic Statistics – Last Ten Fiscal Years ...................................................... 169
Principal Employers – Last Ten Calendar Years .............................................................................. 170
Operating Information:
Full-Time Equivalent City Government Employees by Function
– Last Ten Fiscal Years ................................................................................................................. 173
Operating Indicators by Function/Program – Last Ten Fiscal Years ................................................ 174
Capital Asset Statistics by Function/Program – Last Ten Fiscal Years ............................................ 176
iv
Kate Colin, Mayor • Maribeth Bushey, Vice Mayor • Rachel Kertz, Councilmember • Maika Llorens Gulati, Councilmember • Eli Hill, Councilmember
November 15, 2021
Honorable Mayor, Members of the City Council and Residents of San Rafael:
The Comprehensive Annual Financial Report (“Annual Report”) of the City of San Rafael
(“City”) for the year ended June 30, 2021, is hereby submitted as required by local
ordinances, state statutes and bond covenants. This financial report has been prepared in
conformance with Generally Accepted Accounting Principles (GAAP) as promulgated by
the Governmental Accounting Standards Board (GASB) and includes the report of the
independent certified public accounting firm, Maze and Associates Accountancy
Corporation, which has issued an unmodified, or “clean” opinion on the City’s financial
statements for the fiscal year ended June 30, 2021.
The independent audit of the financial statements is part of a broader, federally mandated
examination known as a “Single Audit”, which is designed to meet the needs of federal
grantor agencies. The standards governing Single Audits require the independent auditor to
report on the audited agency’s internal controls and compliance with legal requirements,
with special emphasis on such controls and requirements involving the administration of
federal funding. These reports will be available in the City’s separately issued Single Audit
Report.
City Management is responsible for both the data accuracy, and the completeness and
fairness of the presentation of this report. To the best of our knowledge and belief, the data
presented is accurate in all material respects and is reported in a manner that presents fairly
the financial position and results of operations of the various funds and component units of
the City. Further, the Annual Report is prepared in accordance with procedures and policies
set by the Government Finance Officers Association. The analysis of the financial
condition and the result of operations can be found in the financial section of the
Management’s Discussion and Analysis document. The Annual Report is organized into
three sections:
1. Introductory section, which is unaudited, includes this letter of transmittal, an
organizational chart and a list of the City’s elected and appointed officials.
2. Financial section, includes the basic financial statements, related footnote disclosures,
and the combining and individual fund financial statements and schedules, as well as
the independent auditors' report.
3. Statistical section, which is unaudited, includes selected financial and demographic
information, presented on a multi-year basis. Generally, ten-year data is presented for
expenditures, revenues, assessed valuation for local properties and construction
activity.
v
Kate Colin, Mayor • Maribeth Bushey, Vice Mayor • Rachel Kertz, Councilmember • Maika Llorens Gulati, Councilmember • Eli Hill, Councilmember
REPORTING ENTITY – PROFILE OF THE GOVERNMENT
The City of San Rafael is located 17 miles north of San Francisco in Marin County.
Protected by its Mediterranean like setting along the shores of the San Francisco Bay, the
City enjoys a mild climate year-round. As the County seat, San Rafael is considered the
commercial, financial, cultural and civic hub of Marin County. Abundant recreational
facilities are available in and around the City. The City’s park and recreational resources
include 24 city parks, 393 acres of developed parkland, city and county open space, and
China Camp State Park. San Rafael is close to other attractions, including the Golden Gate
Bridge, Muir Woods, Point Reyes National Seashore, Mount Tamalpais, multiple state
parks, San Francisco, Oakland and the Sonoma and Napa wine country.
In 1874, the City became the first incorporated city in the county, later becoming a charter
city in 1913 by vote of City residents. The City Council comprises five members; four are
elected at-large to four-year terms while the mayor is elected separately to a four-year term.
The City’s land area is 22 square miles, including seventeen square miles of land and 5 of
water and tidelands. San Rafael's population on January 1, 2021 was 59,016.
In a normal year Downtown San Rafael is the location of many community events,
including the Thursday night Summer Market Festivals, Second Friday Art Walks, the
Twilight Criterium Bike Race, Mill Valley Film Festival, Winter Wonderland/Parade of
Lights, and is one of only 14 Cultural Arts Districts in the State of California. San Rafael is
also the heart of the County’s cultural activities with venues such as the Marin Center,
which presents numerous ballets, concerts, speaking engagements as well as the award-
winning Marin County Fair; the Falkirk Cultural Center, providing art exhibits and
children's programming; the Christopher B. Smith Film Center, and a host of other diverse
dining and entertainment venues.
The City provides a full range of municipal services required by statute or charter, namely:
police and fire protection, construction and maintenance of streets, parks, storm drains and
other infrastructure, recreation, childcare, permits, planning, code enforcement, and a
library system serving two locations along with a pop-up at the Northgate Mall. The City
performed certain infrastructure construction and economic development activities through
a separate Redevelopment Agency until its dissolution on February 1, 2012. The City of
San Rafael accepted the role of Successor Agency to the Redevelopment Agency per
Council action on January 3, 2012, and now conducts its economic development activities
with funding from its General Fund.
vi
Kate Colin, Mayor • Maribeth Bushey, Vice Mayor • Rachel Kertz, Councilmember • Maika Llorens Gulati, Councilmember • Eli Hill, Councilmember
The City and California Municipal Finance Authority compose the San Rafael Joint
Powers Financing Authority, originally established by the City and former Redevelopment
Agency for the purpose of financing redevelopment and other projects. The San Rafael
Sanitation District is a discretely presented component unit of the City and is presented
independent of City financial information. For a further explanation of these entities, refer
to Note 1 – Summary of Significant Accounting Policies in the Financial Section of the
Annual Report.
The City participates in various organizations through formally organized and separate
entities established under the Joint Exercise of Powers Act of the State of California. As
separate legal entities, these agencies exercise full powers and authorities within the
scope of the related Joint Powers Agreement including the preparation of annual
budgets, accountability for all funds, and the power to make and execute contracts.
Obligations and liabilities of the separate entities are not those of the City. For a further
explanation of these separate entities, refer to Note 12 – Jointly Governed Organizations in
the Annual Report.
Building from over a decade of community efforts to address San Rafael's aging essential
public safety facilities, the Essential Facilities project has been underway with major
milestones met during the year. In August of 2020 the City completed and placed into
service the new Public Safety Center, a state-of-the-art facility for police headquarters and
public safety services. On October 18, 2021 the City Council approved a construction bid
for Fire Station 54 and Fire Station 55. A construction timeline will be established over the
oncoming months.
ECONOMIC FACTORS
The City has a diversified economic base, which includes an assortment of high-tech,
financial, service-based, entertainment and industrial businesses. Downtown San Rafael
provides a mix of restaurants, retail shops and financial institutions. The City’s varied
economic base is reflected in its property tax base, which is 74% residential, 20%
commercial, 2% industrial, and 4% unsecured and others. The top 25 sales tax producers
provide 52% of overall sales tax revenues.
The COVID-19 continues to test the resilience of the California economy with the Delta
variant currently causing disruption to the greatly anticipated recovery. Although
Californians are now grappling with the reality of a prolonged pandemic environment,
the economy is certainly in recovery with the tech sector leading the way. However,
with a return to normality seemingly in reach, the specter of inflation looms overhead,
threatening another hurdle to overcome in our push to economic recovery.
vii
Kate Colin, Mayor • Maribeth Bushey, Vice Mayor • Rachel Kertz, Councilmember • Maika Llorens Gulati, Councilmember • Eli Hill, Councilmember
Locally, Marin County is also reeling from the effects of the pandemic, however, as the
county’s workforce is more concentrated in the finance, science and information sectors
there is hope the region’s employment figures will outperform much of the state that
relies more heavily on personal service and retail.
Demographic Data
The following is a sample of demographic and economic attributes that make San Rafael an
exceptional place to live and work.
Economic development organizations in San Rafael include the San Rafael Chamber of
Commerce, Downtown Business Improvement District, and the Marin Economic
Forum.
Marin County’s top 10 employers include Kaiser Permanente, Marin Health Medical
Center, Dominican University of California, Marin Community Clinics, Novato
Community Hospital, Hospice by the Bay, W Bradley Electric, Wells Fargo,
Community Action Marin, and BioMarin.
Major shopping areas, as measured in available retail square footage, include the
Downtown corridor (938,000 aggregate), Northgate Mall (725,000), Montecito Center
(130,000) and Northgate One (113,900).
The top three sales tax categories during the fiscal year ended June 30, 2021, for San
Rafael were: 1. Autos and Transportation (26.6%), 2. State and County Pools (23.5%),
and 3. Building and Construction (20.3%).
Several hotels and motels support tourism activity, led by a combined 471 rooms in the
Embassy Suites and Four Points Sheraton. Citywide, the total number of hotel rooms
is 787.
Establishing and maintaining affordable residential housing for sale and lease continues
to be a challenge both in San Rafael and throughout Marin County. The median rent
for an apartment in San Rafael is $2,648. The median home value in San Rafael is
$1,333,197.
Recent growth and economic vibrancy:
San Rafael ranked No. 2 on the SMU National Center for Arts Research Vibrancy
Index. This overall index is composed of three dimensions: supply, demand, and
government support. Supply is assessed by the total number of arts providers in the
community, including the number of arts and culture organizations and employees,
independent artists, and entertainment firms. Demand is gauged by the total
nonprofit arts dollars in the community, including program revenue, contributed
revenue, total expenses, and total compensation. Lastly, the level of government
support is based on state and federal arts dollars and grants.
viii
Kate Colin, Mayor • Maribeth Bushey, Vice Mayor • Rachel Kertz, Councilmember • Maika Llorens Gulati, Councilmember • Eli Hill, Councilmember
The City is enjoying a boost in development of hotel rooms thanks to a new AC
Marriott Hotel currently under construction in the heart of our Downtown. A
dual-brand Hampton Inn/H2 Hotel is also coming soon in the East San Rafael
neighborhood to serve a variety of large retailers and businesses as well as
workers within the traditionally industrial area. These two hotels combined are
expected to add 325 new hotel rooms to the City and generate much needed
Transit Occupancy Tax (TOT).
San Rafael continues to serve our local business and restaurant community,
especially during the COVID-19 pandemic, where we have supported our
restaurants by expanding temporary outdoor dining options in our parking stalls,
sidewalks, and parking lots. In coordination with the Business Improvement
District, the City has also closed streets during our weekly ‘Dining Under The
Lights’ event where patrons can enjoy a meal outdoors under the newly extended
Tivoli lights that crisscross above the heart of our Downtown.
The City also partnered with the Agricultural Institute of Marin to bring back the
Summer Thursday night market from May through September 2021.
FINANCIAL INFORMATION
The City's management is responsible for establishing and maintaining internal controls to
ensure that the City's assets are adequately protected from loss, theft or misuse. In addition,
management controls ensure that proper accounting data is collected so as to prepare
reports in conformance with generally accepted accounting principles.
Internal accounting controls are designed to provide reasonable, but not absolute, assurance
regarding: (1) the safeguarding of assets against loss from unauthorized use or disposition;
and (2) the reliability of financial records for preparing financial statements and
maintaining accountability for assets. The concept of reasonable assurance recognizes that
the cost of a control should not exceed the benefits likely to be derived. All internal control
evaluations occur within the above framework. It is management’s belief that the City's
internal accounting controls adequately safeguard assets and provide reasonable assurance
that financial transactions are properly recorded.
The City develops a budget based upon City Council priorities and department objectives.
The Finance Department maintains a traditional line item budget by major function. Budget
control is accomplished at the functional or division level within each fund. This budget
creates a comprehensive management and fiscal system aimed at achieving the objectives
of each operating level consistent with those that have been set for the community by the
City Council. Each department director is responsible for accomplishing goals within his or
her functional area and monitoring the use of her or his budget allocations consistent with
policies set by the City Council and monitored by the City Manager.
ix
Kate Colin, Mayor • Maribeth Bushey, Vice Mayor • Rachel Kertz, Councilmember • Maika Llorens Gulati, Councilmember • Eli Hill, Councilmember
ACKNOWLEDGMENTS
The preparation of this City-wide document would not have been possible without the
assistance of each of the City’s departments. In addition, Finance support staff Sara Smith,
Whitney Zimmerman, Kate Llamas, and Finance lead Shawn Plate, with oversight by
Accounting Manager Van Bach and Finance Director Nadine Atieh Hade were key to the
timely issuance of this report. We believe this document meets the Government Finance
Officers Association’s (GFOA) Certificate of Achievement for Excellence in Financial
Reporting requirements and will be submitting it to the GFOA to determine its eligibility. If
accepted, this will mark the tenth consecutive year for which the City received the award.
Lastly, we appreciate the ongoing leadership and support from the Mayor and City
Councilmembers. Their strong commitment to financial accountability and stewardship
provide inspiration to the organization and motivate a high level of achievement.
Respectfully submitted,
Jim Schutz Nadine Atieh Hade
City Manager Finance Director
x
MISSION STATEMENT
The Mission of the City of San Rafael is to enhance the quality of
life and to provide for a safe, healthy, prosperous and livable
environment in partnership with the community.
VISION STATEMENT
Our vision for San Rafael is to be a vibrant economic and cultural
center reflective of our diversity, with unique and distinct
neighborhoods in a beautiful natural environment, sustained by
active and informed residents and a responsible innovative local
government.
January 1996
xi
City Council and Staff
As of November 15, 2021
City Council
Kate Colin, Mayor
Maribeth Bushey, Vice Mayor
Maika Llorens Gulati, Councilmember
Eli Hill, Councilmember
Rachel Kertz, Councilmember
Elected Officials
Rob Epstein, City Attorney
Lindsay Lara, City Clerk
Executive Team
Jim Schutz, City Manager
Cristine Alilovich, Assistant City Manager
David Spiller, Chief of Police
Darin White, Fire Chief
Bill Guerin, Public Works Director
Alicia Giudice, Community Development Director
Susan Andrade-Wax, Library & Recreation Director
Nadine Atieh Hade, Finance Director
Jessica MacLeod, Director of Digital Service & Open Government
Carmen Valdez, Interim Human Resources Director
xii
xiii
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xiv
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of San Rafael
California
For its Comprehensive Annual
Financial Report
For the Fiscal Year Ended
June 30, 2020
Executive Director/CEO
xv
Blooms at Canal Community Garden
FINANCIAL SECTION
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of the City Council
City of San Rafael, California
Report on Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, each major fund, and the aggregate remaining fund information of the City of San Rafael (City),
California, as of and for the year ended June 30, 2021, 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 the 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 did not audit
the component unit financial statements of the San Rafael Sanitation District, which represents 25%, 57%,
and 15%, respectively, of the assets, net position, and revenues of the primary government. Those financial
statements were audited by other auditors, whose report thereon has been furnished to us and our opinion,
insofar as it relates to the amounts included for the San Rafael Sanitation District, is based solely on the
report of those auditors. 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 City’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 City’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.
1
Opinions
In our opinion, based on our audit and the report of other auditors, the financial statements referred to
above present fairly, in all material respects, the respective financial position of the governmental
activities, the business-type activities, each major fund, the aggregate remaining fund information and the
discretely presented component unit of the City as of June 30, 2021, and the respective changes in
financial position and, where applicable, cash flows thereof for the year then ended in accordance with
accounting principles generally accepted in the United States of America.
Change in Accounting Principles
Management adopted the provisions of Governmental Accounting Standards Board Statement No. 84,
Fiduciary Activities, which became effective during the year ended June 30, 2021 and required the
restatement of net position as discussed in Note 1S to the financial statements.
The emphasis of this matter does not constitute a modification to our opinions.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that Management’s
Discussion and Analysis and required supplementary information, as listed in the Table of Contents, be
presented to supplement the basic financial statements. Such information, although not a part of the basic
financial statements, is required by the Governmental Accounting Standards Board, who considers it to be
an essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management’s responses to our inquiries, the basic
financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited procedures
do not provide us with sufficient evidence to express an opinion or 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, Supplementary Information, and
Statistical Section as listed in the Table of Contents are presented for purposes of additional analysis and
are not required parts of the basic financial statements.
The Supplementary Information is the responsibility of management and was derived from and relates
directly to the underlying accounting and other records used to prepare the basic financial statements.
The information has been subjected to the auditing procedures applied in the audit of the basic financial
statements and certain additional procedures, including comparing and reconciling such information
directly to the underlying accounting and other records used to prepare the basic financial statements or to
the basic financial statements themselves, and other additional procedures in accordance with auditing
standards generally accepted in the United States of America. In our opinion, the Supplementary
Information is fairly stated, in all material respects, in relation to the basic financial statements as a whole.
2
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.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated November 15,
2021, 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.
Pleasant Hill, California
November 15, 2021
3
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
This analysis of the City of San Rafael’s (City) financial performance provides an overview of the City’s financial
activities for the fiscal year ended June 30, 2021. Please read it in conjunction with the basic financial statements and
the accompanying notes to those basic financial statements.
FINANCIAL HIGHLIGHTS
Government-wide:
Net Position – The assets and deferred outflows of the City exceeded its liabilities and deferred inflows as of
June 30, 2021 by $165 million.
Activities – During the fiscal year the City’s total revenues of $127.3 were greater than expenses of
$109.8 million for governmental and business-type activities.
Changes in Net Position – The City’s total net position increased by $17.4 million in fiscal year 2020-2021
as compared to the net position of the previous year. Net position of governmental activities increased by
$18.4 million, while net position of the business-type activities decreased by $931 thousand.
Fund Level:
Governmental Funds – As of the close of fiscal year 2020-2021, the City’s governmental funds reported
combined ending fund balances of $54.8 million, an increase of $8.7 million primarily due greater than
expected tax receipts during the fiscal year. Of this total amount, $378 thousand is nonspendable, $36 million
is restricted, $10.2 million is committed, $7.3 million is assigned, and $921 is unassigned.
Governmental fund revenues totaled $124 million, an increase of $17.2 million from the those of the previous
fiscal year. Approximately $10 million was due larger than anticipated tax remittances as well the institution
of Measure R, a quarter-cent transaction and use tax, as well as Measure C Wildfire Prevention assessments.
The remainder was mainly due to an increase in grant reimbursements for capital projects as the City ramped
up activity during the year following the stay-at-home orders that marked the end of the prior fiscal year.
Governmental fund expenditures decreased by $13.3 million to $116.5 million, from $129.8 million in the
prior year, due primarily to a $12.3 million reduction in culture and recreation activities as a result of the
COVID-19 pandemic. The remainder can be attributed to staffing measures such as furloughs and freezing
positions as the city sought to navigate the uncertain times ahead during budgeting.
Enterprise fund operating revenue decreased $1.7 million to a total of $3.4 million as a result of dramatically
reduced operations in response to the COVID-19 pandemic. Enterprise operating expenditures totaled $3.6
million, a decrease of $0.6 million over the previous year.
OVERVIEW OF FINANCIAL STATEMENTS
The Comprehensive Annual Financial Report is composed of the following:
1.Introductory section, which includes the Transmittal Letter and general information
2.Management’s Discussion and Analysis (this part)
3.Basic Financial Statements, which include the Government-wide and the Fund financial statements,
including Fiduciary Funds, along with the Notes to these financial statements
4.Combining statements for Non-Major Governmental Funds and Internal Service Funds
5.Statistical Information
5
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements, which
have three components: 1) Government-wide Financial Statements, 2) Fund Financial Statements, and 3) Notes to
the Basic Financial Statements.
The basic financial statements include the City (primary government) and all legally separate entities (component
units) for which the government is financially accountable. This report also contains other supplementary information
in addition to the basic financial statements for further information and analysis.
Government-wide Financial Statements
The government-wide financial statements present the financial picture of the City and provide readers with a broad
view of the City’s finances. These statements present governmental activities and business-type activities separately
and include all assets of the City (including infrastructure) as well as all liabilities (including long-term debt).
Additionally, certain interfund receivables, payables, and other interfund activity have been eliminated as prescribed
by generally accepted accounting principles.
The Statement of Net Position and the Statement of Activities and Changes in Net Position report information about
the City as a whole. 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 of the current year’s
revenues and expenses are taken into account, regardless of when cash is received or paid.
The Statement of Net Position presents information on all of the City’s assets, deferred outflows/inflows of resources,
and liabilities, with the difference reported as net position. Over time, increases in net position may serve as a useful
indicator of whether the financial position of the City is improving or deteriorating.
The Statement of Activities and Changes in Net Position presents information showing how the City’s net position
changed during the year. All changes in net position are reported as soon as the underlying event giving rise to the
change occurs, regardless of timing of related cash flows.
In the Statement of Net Position and the Statement of Activities and Changes in Net Position, City activities are
separated as follows:
Governmental Activities – Most of the City’s basic services are reported in this category, including Public Safety,
Public Works and Parks, Community Development, Cultural and Recreation, and Government Administration
(finance, human resources, legal, City Clerk and City Manager operations). Property tax, sales and use taxes, user
fees, interest income, franchise fees, hotel taxes, business licenses, and property transfer taxes, plus state and federal
grants finance these activities.
Business-type Activities – The City charges fees to customers to cover the full costs of certain services it provides.
The City’s Parking Services program is the City’s sole business-type activity.
Discretely Presented Component Units – The government–wide financial statements include not only the City itself
(the primary government), but also the San Rafael Sanitation District, a legally separate entity for which the City is
financially accountable. Financial information for the San Rafael Sanitation District is reported separately from the
financial information presented for the primary government.
The government-wide financial statements can be found on pages 25 through 27 of this report.
6
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
Fund Financial Statements and Major Component Unit Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for
specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and
demonstrate compliance with finance-related legal requirements. All of the funds of the City are divided into three
categories: governmental funds, proprietary funds, and fiduciary funds.
The fund financial statements provide detailed information about each of the City’s most significant funds called
major funds. Each major fund is presented individually with all non-major funds summarized and presented in a
single column. Further detail on the non-major funds is presented on pages 118 through 145 of this report.
Governmental Funds – Governmental funds are used to account for essentially the same functions reported as
governmental activities in the government-wide financial statements. However, unlike the government-wide
financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable
resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may
be useful in evaluating a government’s near-term financial capacity.
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 government funds with similar information presented for
governmental activities in the government-wide financial statements. By doing so, readers may better understand the
long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheet and
the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to
facilitate this comparison between governmental funds and governmental activities. These reconciliations are
presented on the page immediately following each governmental fund financial statement.
The City has thirty-two governmental funds, of which four are considered major funds for presentation purposes.
Each major fund is presented separately in the governmental fund balance sheet and in the governmental fund
statement of revenues, expenditures, and changes in fund balances. The City’s four major funds are: the General
Fund, Traffic and Housing Mitigation, Gas Tax and Essential Facilities Capital Projects. Data from the other twenty-
eight governmental funds are combined into a single, aggregated presentation. The basic governmental fund financial
statements can be found on pages 30 through 33 of this report. Individual fund data for each of these non-major
governmental funds is provided in the form of combining statements on pages 118 through 138 of this report.
Proprietary Funds – The City maintains two different types of proprietary funds - enterprise funds and internal
service funds. Enterprise funds are used to report the same functions presented as business-type activities in the
government-wide financial statements. The City uses an enterprise fund to account for its Parking Services program
and reports it as a major fund. Internal service funds are used to accumulate and allocate costs internally among the
City’s various functions. The City uses internal service funds to account for its building maintenance; vehicle,
equipment and computer replacement; workers’ compensation; general liability; self-insured dental program; other
employee and retiree benefits programs. Because these services predominantly benefit governmental rather than
business-type functions, they have been included within governmental activities in the government wide financial
statements.
Proprietary funds provide the same type of information as the government-wide financial statements, only in more
detail. Like the government-wide financial statements, proprietary fund financial statements use the accrual basis of
accounting. There is no reconciliation needed between the government-wide financial statements for business-type
activities and the proprietary fund financial statements.
The proprietary fund financial statements can be found on pages 36 through 38 of this report.
7
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
Fiduciary Funds – Fiduciary funds are used to account for resources held for the benefit of parties outside the
government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of
those funds are not available to support the City’s own programs. The City acts as an agent on behalf of others,
holding amounts collected, and disbursing them as directed or required. The City’s fiduciary activities are reported
in the separate Statements of Fiduciary Net Position and the Statement of Changes in Fiduciary Net Position. The
City’s fiduciary funds include a private purpose trust fund to account for activities of the City of San Rafael Successor
Agency and an agency fund that accounts for resources held by the City in a custodial capacity for the Pt. San Pedro
Road Assessment District. Information for the fiduciary funds can be found on pages 40 through 41 of this report.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the
government-wide and fund financial statements. The notes to the financial statements can be found on pages
43 through 93 of this report.
Required Supplementary Information
In addition to the basic financial statements and accompanying notes, this report also presents certain required
supplementary information. One section includes budgetary comparison statements for the General Fund and major
funds (general, gas tax, and traffic and housing mitigation). The other section includes schedules of funding progress
for the Marin County Employees’ Retirement System and the City’s OPEB plan. All budgeted positions that are filled
by either full-time or permanent part-time employees (working seventy-five percent of full-time equivalent) are
eligible to participate in the system and the OPEB plan. Required supplementary information can be found on pages
94 through 107 of this report.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
Statement of Net Position
Net position measures the difference between (a) assets and deferred outflows of resources and (b) liabilities and
deferred inflows of resources. During this fiscal year, the net position of the City was $156.5 million from
Governmental Activities and $9 million from Business-type Activities, for a total of $165.5 million. This represents
an increase of $17.4 million from the prior year net position.
8
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
The following is the condensed Statement of Net Position for the fiscal years ended June 30, 2021 and 2020:
Current governmental assets increased by $21.4 million, primarily resulting from an increase in cash and investments
following the receipt of $8 million in American Rescue Plan Act (ARPA) funds in May of 2021 as well as positive
results of activities for the year. In addition, there was a $3.7 million increase in intergovernmental receivables as
capital project reimbursements ramped up during the year. The $5.8 million increase in capital assets reflects project-
to-date activity for the public safety facility construction and improvements in combination with major traffic
infrastructure improvements. The increase of $11 million in deferred outflows is primarily a result the impact of
pension-related investment losses during the measurement year. In order to decrease the volatility of the measurement
of net pension liability gains and losses in excess of those projected are capitalized and amortized over a five-year
period. Current and other liabilities increased by approximately $7.6 million, primarily due to the receipt of ARPA
funds at the end of the year that were classified as unearned revenue. Noncurrent governmental liabilities increased
by $19 million a result of the increase in net pension liability, partially offset by the reduction long-term debt from
principal payments during the year. Deferred inflows decreased by $6.7 million mainly as a result of the difference
between projected and actual earning on investments during the measurement period that resulted in a net deferred
outflow.
The net position in business-type activities reflects the fiscal activity of the Parking Services program and decreased
by $931 thousand from the previous year as operating revenue continues to be significantly impacted by the ongoing
pandemic. Capital assets decreased by $226 thousand due to current year depreciation. The increase in deferred
outflows and related decrease in deferred inflows was due to the pension-related adjustment mentioned above. The
$407 thousand increase in noncurrent liabilities is driven by the increase in net pension liabilities.
Increase Increase
2021 2020 (Decrease) 2021 2020 (Decrease)
Current and other assets $106,662 $85,240 $21,422 $2,536 $3,371 ($835)
Capital assets 279,337 273,513 5,824 15,505 15,731 (226)
Total assets 385,999 358,753 27,246 18,041 19,102 (1,061)
Deferred outflows (Notes 9 and 11)57,577 46,498 11,079 1,864 1,506 358
Current and other liabilities 23,067 15,423 7,644 464 432 32
Noncurrent liabilities 242,272 223,220 19,052 9,793 9,386 407
Total liabilities 265,339 238,643 26,696 10,257 9,818 439
Deferred inflows (Notes 9 and 11)21,739 28,481 (6,742) 678 890 (212)
Net Position:
Net investment in capital assets 228,253 230,737 (2,484) 11,174 11,104 70
Restricted 36,175 23,522 12,653 0 0 0
Unrestricted (107,930) (116,133) 8,203 (2,205) (1,204) (1,001)
Total net position $156,498 $138,126 $18,372 $8,969 $9,900 ($931)
Governmental Activities Business-Type Activities
Summary of Net Position
(in thousands)
9
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
At June 30, 2021, the largest portion of total net position in the amount of $239.4 million consisted of the City’s
investment in capital assets net of related debt. This component represents the total amount of funds required to
acquire capital assets less any related debt used for such acquisition that is still outstanding. The City uses these
assets to provide services to residents. The capital assets of the City are not sources of income for repayment of debt
as most assets are not revenue generating and generally are not liquidated to repay debt. Therefore, debt service
payments are funded from other sources available to the City.
A portion of the City's total net position, $36.2 million, is subject to external restrictions, and their use is determined
by those restrictions whether legal or by covenant. The remaining portion, unrestricted negative $110.1 million,
represents the extent to which the net investment in capital assets and restricted net position exceed total net assets.
Invested in Capital Assets (net)$239,427
Restricted 36,175
Unrestricted (110,135)
Total Net Position $165,467
Net Position as of 6/30/2021
(in thousands)
10
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
Statement of Activities - Governmental
The following is the condensed Statement of Activities and Changes in Net Position for the fiscal years ended June
30, 2021 and 2020:
Increase
2021 2020 (Decrease)
REVENUES
Program revenues:
Charges for services $19,764 $19,142 $622
Operating grants and contributions 5,133 5,546 (413)
Capital grants and contributions 8,719 1,348 7,371
Total program revenues 33,616 26,036 7,580
General revenues:
Property taxes 30,994 26,492 4,502
Sales taxes 39,599 33,783 5,816
Paramedic tax 5,153 4,923 230
Transient occupancy tax 1,798 2,411 (613)
Franchise tax 3,974 4,029 (55)
Business license tax 2,575 2,825 (250)
Other taxes 2,997 2,153 844
Investment earnings 389 1,908 (1,519)
Miscellaneous 2,840 2,471 369
Total general revenues 90,319 80,995 9,324
TOTAL REVENUES 123,935 107,031 16,904
EXPENS ES
General government 12,255 15,630 (3,375)
Public safety 54,737 50,001 4,736
Public works and parks 20,750 21,661 (911)
Community/economic development 5,804 5,314 490
Culture and recreation 10,619 11,828 (1,209)
Interest on long-term debt 1,936 1,975 (39)
TOTAL EXPENSES 106,101 106,409 (308)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENSES 17,834 622 17,212
Transfers in 538 586 (48)
Net Change in Net Position 18,372 1,208 17,164
Beginning Net Position 138,126 136,918 1,208
Ending Net Position, June 30 $156,498 $138,126 $18,372
Governmental Activities
Summary of Changes in Net Position
(in thousands)
11
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
The City’s governmental activities net position increased by $18.4 million during fiscal year 2020-2021. Year-over-
year increases in revenues of $16.9 million were the result of a number of factors. First, sales and use tax remittances
greatly outperformed forecasts as government stimulus in response to the COVID-19 pandemic infused the economy
with unexpected capital, boosting construction and auto sales significantly. Also impacting the increase was the
addition of the Measure R transaction and use tax during the year as well as the timely passage of the Wayfair decision
providing remittances from online sales that have soared. Secondly, the City saw over $7 million in increased capital
grant activity as the City ramped up capital projects following a brief lull after regrouping following initial stay-at-
home orders in the third and fourth quarters of the previous fiscal year. Lastly, property tax revenues increased 17%
with the addition of assessments resulting from the passage of Measure C supporting wildfire prevention activities as
well as property transfer taxes, which are grouped with property taxes for reporting purposes, that almost doubled
from the previous year as low interest rates and other pandemic related pressures have fueled a red-hot housing
market.
Although overall operating expenses appear to have remained flat, there was an 11 percent decline in governmental
fund operating expenses as a result of pandemic related staffing reductions that was offset by required pension and
OPEB related adjustments determined by outside Actuarial reports. The increase in Public Safety expenditures is
due to a number of factors; first, the new Wildfire Prevention program began during the fiscal year incurring roughly
$1.4 million in expenses; second, $1,000,000 was set aside in the vehicle replacement fund to replace aging fire
department vehicles; third, a significant increase in pension costs was borne during the year as a result of a prior
actuarial study; and, lastly, the fire department engaged in increased strike-team activity, increasing overtime costs
that are ultimately reimbursed by the state.
The following graph shows governmental revenues by source:
12
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
Total expenses for governmental activities were $104.2 million (excluding interest on long-term debt of $1.9 million).
Program revenues offset total expenses as follows:
Those who directly benefited from programs contributed $19.8 million in charges for services.
A total of $13.9 million in operating and capital projects were funded by outside agencies through operating
grants, capital grants, and contributions.
As a result, total expenses that were funded by tax revenues, investment income, other general revenues and fund
balance were $70.5 million.
Functional expenses for the year ended June 30, 2021, were as follows:
Function Amount Percent of Total
General government $12,255 11.6%
Public safety 54,737 51.6%
Public works and parks 20,750 19.6%
Community development 5,804 5.5%
Culture and recreation 10,619 10.0%
Interest on debt 1,935 1.8%
Total expenses $106,100 100%
Expenses by Function
(in thousands)
13
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
The net position for business-type activities decreased from the prior year by $931 thousand.
Parking services is the City’s only business-type activity with income derived from program revenues of
$3.4 million. Program revenues include parking meter coin income of $1.1 million and parking garage hourly
and monthly parking income of $0.7 million. Revenues also include parking and non-vehicle code fines
totaling $1.6 million. Total expenses for parking services were $3.7 million and transfers out to general fund
and non-major governmental fund for support totaled $538 thousand during the fiscal year 2020-2021. The
Parking services program has been acutely affected by the coronavirus pandemic as the effects of reduced
brick-and-mortar business activity and increased remote work arrangements have reduced street and garage
parking revenue by a combined $748 thousand or 30%. Parking services also suspended citation activities
for a portion of the year leading to a $963 thousand or 38% decline in citation revenue. Staffing levels were
reduced during this time as reflected in the $765 thousand or 17% decrease in operating expenses for the
period.
Increase
2021 2020 (Decrease)
Revenues
Program revenues:
Charges for services $3,352 $5,063 ($1,711)
Total program revenues 3,352 5,063 (1,711)
General revenues:
Investment Income 4 71 (67)
Total general revenues 4 71 (67)
TOTAL REVENUES 3,356 5,134 (1,778)
Expenses
General government 3,749 4,491 (742)
TOTAL EXPENSES 3,749 4,491 (742)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENSES (393) 643 (1,036)
OTHER FINANCING SOURCES (USES)
Transfers out (538) (586) 48
Net Change in Net Position (931) 57 (988)
Net Position, Beginning 9,900 9,843 57
Net Position, Ending $8,969 $9,900 ($931)
Summary of Changes in Net Position
For the periods ended June 30, 2021 and 2020 (in thousands)
Business-Type Activities
14
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
FINANCIAL ANALYSIS OF INDIVIDUAL FUNDS
Governmental Funds
Fund Balance Classifications
Fund balances are classified in five categories: nonspendable, restricted, committed, assigned, and unassigned based
on a hierarchy of constraint. Further details on fund balance classifications can be found in Note 8B.
The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balances
of spendable resources. Such information is useful in assessing the City’s financial capacity. In particular, unassigned
fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the
fiscal year.
As of June 30, 2021, the City reported a combined ending fund balance of $54.8 million of all its governmental funds
(an increase of $8.7 million from the prior year): $377 thousand is non-spendable, $36 million is restricted,
$10.2 million is committed, $7.3 million is assigned, and $921 thousand is unassigned.
General Fund – The General Fund is the primary operating fund of the City.
General Fund – The fund balance of the General Fund as of June 30, 2021, was $16.8 million (an increase of
$7 million from the prior year balance): $377 thousand is non-spendable, $8.3 million is committed, $7.2 million is
assigned and $921 thousand is unassigned. The assigned portion of the balance includes $8.3 million for emergency
and cash flow needs.
General Fund Budgetary Highlights:
The original adopted General Fund budget projected total revenue of $76.3 million and transfers-in of $3.9 million
for total resources of $80.2 million. This budget appropriated expenditures of $81 million and transfers-out of
$2 million for total appropriations of $83.3 million. Revenues were later increased to $87.9 million as sales and use
tax receipts exceeded expectations as a forecasted overall economic downturn did not materialize due, in part, to wide
ranging government stimulus programs. Transfers-out were increased by $2 million based on increased support of
recreation fund expenditures as a result of the pandemic and project support.
Actual revenues, at $88.7 million, exceeded original budgeted revenues by $12.4 million. Sales and use taxes made
up the largest portion of the increase as construction and automobile sales unexpectedly flourished, as well as the
additional revenues provided by the new Measure R quarter-cent use tax. Other impacts included increased property
tax revenues above expectations in addition to large one-time collections for fees related to large development
projects. Expenditures of $80.7 million were roughly in line with original budgeted expenditures of $81 million as
the main component of staffing remained on budget.
Fiscal year 2020-2021 General Fund revenues and transfers in of $91.8 million exceeded expenditures and transfers
out of $84.8 million by $7 million. The increase allowed the City to fully replenish the emergency reserve partially
used to absorb the loss in the prior year as well as commit to various projects and initiatives for the future.
15
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
Traffic and Housing Mitigation Fund – The City uses this fund to collect developer contributions to be used for
major street improvement and housing infrastructure projects. During the year, the fund balance increased from $4.2
million to $6.6 million. Revenues totaled $5.9 million, while $3.5 million was charged against this fund to support
the maintenance of the City-wide traffic model. The City’s matching portion of the County of Marin’s purchase of
3301 Kerner Boulevard through the State’s Project Homekey initiative accounted for $1.3 million. This site will be
converted to 44 permanent supportive housing units. As part of the same project, the City issued a grant in the amount
of $750 thousand from the Affordable Housing Trust Fund. The Innovative Deployment of Enhanced Arterial project
designed to proactively identify and correct traffic signal performance accounted for an additional $988 thousand in
expenditures. The balance in the fund is being held in anticipation of major street projects identified in the General
Plan 2040 and other qualifying expenditures.
Gas Tax Fund – The City uses this fund to manage its allocation of State gasoline taxes and local funding for street
maintenance projects. Gas tax expenditures and net transfers exceeded revenues by $2.2 million in fiscal year 2020-
2021 resulting in a decrease in fund balance from $6.5 million to $4.3 million. The activities for the year were all
planned and approved project work.
Expenditures during fiscal year 2020-2021 totaled $11 million. In addition to routine street-related maintenance of
$1.4 million, major expenditures included $4.2 million for sidewalk improvements along Francisco Boulevard , $2
million for a multi-use path along Francisco Boulevard, $1 million for resurfacing Smith Ranch Road and Lucas
Valley Road, $652 thousand related to studies and improvements to Third Street , $546 thousand to for resurfacing
the streets surrounding the new Public Safety Center, and $438 thousand for the San Rafael High School crosswalk.
The largest sources of revenues were $3.8 million in federal grants, $1.2 million from State gasoline taxes, $1.1
million in State RMRA (Road Maintenance and Rehabilitation Account) funding, $1 million in local Measure A
funding, and $908 thousand in development impact fees.
Essential Facilities Capital Projects Fund – The City uses this fund to account for major capital improvements to
public safety facilities. During the year, construction of the Public Safety Center was completed and the design phase
has been completed on Fire Stations 54 and 55 with bid selection completed in October, 2021. Expenditures during
fiscal year 2020-2021 totaled $1.1 million, transfers from the General Fund representing an allocation of Measure E
Transaction and Use Tax totaled $1.5 million and $300 thousand was allocated from paramedic tax funds.
Adopted Budget Revised Budget Actual
Revenues $76,261 $87,879 $88,703
Transfers in 3,915 3,090 3,090
Total resources 80,176 90,969 91,793
Expenditures 81,045 $81,312 80,707
Operating transfers out 2,000 2,508 2,508
Capital Transfers out - 1,538 1,538
Total uses 83,045 85,358 84,753
Net Results ($2,869) $5,611 $7,040
Summary of General Fund Budget and Actual
For the fiscal year ended June 30, 2021 (in thousands)
16
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
Non-major Governmental Funds – The City’s non-major funds are presented in the basic financial statements in the
aggregate. At June 30, 2021, non-major funds had a total fund balance of $15 million, a $1.9 million increase over
that of the previous year. The largest fund balance decrease, $905 thousand, was recorded in the Childcare Fund as
result of reduced charges for services resulting from the pandemic. The largest fund balance increase, $487 thousand,
was recorded in the Measure G- Cannabis Fund as operations and funding was accumulated during the year for
specific future projects.
Of the ending total non-major fund balances of $15.0 million: $13 million (87%) is legally restricted for specific
purposes by external funding source providers, $1.8 million (13%) is committed for special purposes by the City
Council, and $116 thousand (less than 1%) is assigned. Additional information about these aggregated non-major
funds is presented in the combining statements which immediately follow the required supplementary information.
Proprietary Funds
The City’s proprietary funds are presented in the basic financial statements in a manner similar to that found in the
government-wide financial statements, but in more detail. As noted in the Summary of Changes in Net Position –
Business-type Activities at page 26, the City’s enterprise fund net position decreased by $931 thousand during the
fiscal year. The Parking Services Fund is the City’s sole business-type (Enterprise) activity.
The parking services fund’s operating revenue decreased by $1.7 million in fiscal year 2020-2021 to $3.4 million.
The enterprise fund operating expenses were $3.6 million in fiscal year 2020-2021, a decrease of $0.7 million over
the prior fiscal year. The change in operating revenues and expenses was driven by adverse impacts on parking
operations from the pandemic environment.
The City’s Internal Service Funds are also reported in this Proprietary Fund classification. In fiscal year 2020-2021,
the Internal Services Funds were comprised of: Building Maintenance, Vehicle Replacement, Equipment
Replacement, Employee Benefits, Liability Insurance, Workers’ Compensation, Dental Insurance, Employee
Retirement, OPEB/Retiree Medical, Radio Replacement, Telephone Replacement and Sewer Maintenance. The net
position of the Internal Service Funds increased by $4.4 million. Net investment in capital assets decreased by $787
thousand, while unrestricted fund balance increased by $5.2 million. The decrease in capital assets resulted primarily
from depreciation of existing capital assets. The increase in unrestricted fund balance reflected increased allocations
to the Vehicle Replacement Fund and Equipment Replacement Fund to fund replacement of aging capital assets. The
other Internal Service Funds reported small-to-moderate changes to their respective net positions.
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets
The City’s investment in capital assets for its governmental and business-type activities as of June 30, 2021 amounts
to $295 million, net of accumulated depreciation of $197 million. This investment in capital assets includes land,
buildings, improvements, machinery and equipment, infrastructure and construction in progress. Infrastructure assets
are items that are normally immovable and of value only to the City such as roads, bridges, streets and sidewalks,
drainage systems, lighting systems, and similar items. The addition to the City’s investment in capital assets for the
current fiscal year was $14.3 million, offset by accumulated depreciation of $8.6 million.
17
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
Additions to capital assets during fiscal year 2020-2021 included:
Building and structure projects: $45.7 million
Public Safety Center - $45.5 million
B Street Community Center Renovations - $224 thousand
Infrastructure: $6.3 million
Slide Repairs at 70 Irwin Street - $1.9 million
Intersection improvements at Third and Hetherton - $521 thousand
Street resurfacing at Smith Ranch and Lucas Valley roads – $1.1 million
Francisco Boulevard West Multi-use path - $2.2 million
Street resurfacing surrounding the Public Safety Center - $546 thousand
The City’s Capital Assets for the fiscal years ending June 30, 2021 and 2020 were as follows:
Additional information on the City’s capital assets can be found in Note 5 on pages 62 through 63 of this report.
2021 2020
Governmental Activities
Land $83,662 $83,662
Construction in progress 24,617 62,961
Land improvements 9,763 9,763
Buildings and structures 119,165 73,514
Machinery and equipment 21,146 20,842
Infrastructure 213,602 207,290
Less accumulated depreciation (192,618) (184,519)
Subtotal Governmental Activities 279,337 273,513
Business-type Activities
Land 8,621 8,621
Buildings and structures 10,714 10,714
Machinery and equipment 940 1,009
Less accumulated depreciation (4,770)(4,613)
Subtotal Business-type Activities 15,505 15,731
Total Capital Assets $294,842 $289,244
Summary of Capital Assets
(in thousands)
18
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
Debt Administration
The City’s debt obligations were stable year-over-year and reflect payments of principal made during the year. The
debt of the former Redevelopment Agency is reported under the Successor Agency, which is presented as a Private-
Purpose Trust Fund on the Statement of Fiduciary Net Position. (See Note 6 of the financial statements for additional
information on the debt obligations of the City and Note 15 for additional information on the Successor Agency.)
The City’s long-term obligations for the fiscal years ending June 30, 2021 and 2020 were as follows:
2021 2020
Governmental Activity Debt:
2018 Authority Lease Revenue Bond $50,179 $52,596
2010 Taxable Pension Obligation Bonds 2,845 3,320
PG & E City Hall HVAC Retrofit Note Payable 79 113
PG & E Efficiency Note Payable 826 972
Subtotal Governmental Activity Debt 53,929 57,001
Business-Type Activity Debt:
PG & E Parking Lot Lighting Retrofit Note Payable 14 21
2012 Authority Lease Revenue Refunding Bonds, as adjusted 4,317 4,606
Subtotal Business-Type Activity Debt 4,331 4,627
Total Long-Term Obligations $58,260 $61,628
Summary of Long-Term Debt
(in thousands)
19
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
ECONOMIC CLIMATE AND NEXT YEAR’S BUDGET
As 2021 draws toward a close, the economy that once appeared resilient in the face of a global pandemic is beginning
to show weakness. As the Delta variant has laid to waste any anticipated near-term return to normalcy, the country
is now struggling with sweeping supply chain issues and inflationary pressures. The future is not as bleak as these
factors may suggest, however, as economic fundamentals remain strong with gross domestic product back above pre-
pandemic levels and balance sheets are healthy. The medium-term outlook remains quite positive, it’s the near-term
that remains murky with many variables potentially impacting our recovery.
California comes into the new year with bolstered capacity as ARPA funds along with a surplus from the prior year
put it in strong financial position to invest in the State. Unemployment remains high but is trending downward at
7.5% for August of 2021 versus 12.3% as of August 2020. California is grappling with the same supply chain and
inflation issues that the rest of the Country is experiencing as the ports of Los Angeles and Long Beach had over 70
container ships anchored in San Pedro Bay waiting to unload at the end of September. To make matters worse, the
current trucking shortage further bottlenecks the supply chain and with wages rising to combat the issue, increased
carrying costs are likely to add further pressure to prices.
Locally, Marin County’s unemployment rate is the lowest in the State at 4.4% as of August as its workforce is more
concentrated in the finance, science and information sectors sheltering the County from larger adverse effects of the
pandemic. The real estate market in Marin remains as hot as ever with median house sales reaching a peak of $1.73
million in the third quarter of calendar 2021. With some of the highest vaccination rates in the State, Marin is in
position to emerge from the pandemic strong.
In San Rafael, economic impacts remain mixed. Sales and use taxes for the first two months of fiscal year 2022 are
showing strong growth against that of the prior year, however, transient occupancy taxes remain depressed as we
navigate the prolonged pandemic environment. Receipt of ARPA funds late in fiscal year 2021 position the City to
provide meaningful impact to its communities going forward and lead Marin to post-pandemic recovery.
The City’s General Fund is as healthy as it’s ever been, bolstered by shocking sales and use tax growth in light of a global
pandemic as well as the infusion of federal funds from ARPA. Staffing is poised to return to pre-pandemic levels helping
position the City to grow its service and maintenance levels from pre-pandemic levels. The strong balance sheet headed
into the new year provides the City a unique opportunity to make significant investments to its communities and
infrastructure in the near-term while fulfilling its current obligations.
Sales tax and transactions and use tax (Measure E and Measure R) combined, represent the City’s largest tax revenue
generators, the second largest being property tax. The City is forecasting sales and use taxes to remain largely level with that
of the record remittances of the previous year as we face competing pressures of supply chain disruption and inflation.
Property taxes are expected to continue to grow three percent in the year ahead.
The City’s largest expenditure relates to personnel costs. Salaries and benefits are tied to the labor agreements with each
bargaining group. With the exception of SEIU-Childcare, which has a two-year contract expiring on October 31, 2021,
the City’s labor units are all operating under new three-year contracts that expire on June 30, 2024.
In the bond markets, the San Rafael name is recognized as a high credit municipal entity given both the City’s financial
strength and solid financial management. Because the City’s bonds are highly sought by investors and are competitive in
the marketplace, the City can borrow funds at reasonably attractive rates. The City maintains an AA issuer credit rating with
Standard & Poor’s Ratings Services.
20
CITY OF SAN RAFAEL
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2021
REQUEST FOR INFORMATION
This financial report is designed to provide our residents, businesses, customers, and investors and creditors with a
general overview of the City’s finances and to demonstrate the City’s accountability for providing high quality
services within the limits of our fiscal resources. If you have questions about this report or need additional financial
information, contact the City of San Rafael – Finance Department at 1400 Fifth Avenue, Room 204, San Rafael,
California 94901.
21
CITY OF SAN RAFAEL
STATEMENT OF NET POSITION AND
STATEMENT OF ACTIVITIES
The Statement of Net Position and the Statement of Activities summarize the entire City’s financial
activities and financial position. They are also referred to as Government-wide financial statements.
The Statement of Net Position reports the difference between the City’s total assets and deferred outflows of
resources and the City’s total liabilities and deferred inflows of resources, including all the City’s capital
assets and all its long-term debt. The Statement of Net Position focuses the reader on the composition of the
City’s net position, by subtracting total liabilities and deferred inflows of resources from total assets and
deferred outflows of resources.
The Statement of Net Position summarizes the financial position of all of the City’s Governmental Activities
in a single column, and the financial position of all the City’s Business-type Activities in a single column;
these columns are followed by a total column which presents the financial position of the entire City.
The City’s Governmental Activities include the activities of its General Fund, along with all its Special
Revenue, Capital Projects, and Debt Service Funds. Since the City’s Internal Service Funds service these
Funds, their activities are consolidated with Governmental Activities, after eliminating inter-fund
transactions and balances. The City’s Business-type Activities include all its Enterprise Fund activities.
The Statement of Activities reports increases and decreases in the City’s net position. It is also prepared on
the full accrual basis, which means it includes all the City’s revenues and all its expenses, regardless of
when cash changes hands. This differs from the “modified accrual” basis used in the Fund financial
statements, which reflect only current assets, current liabilities, deferred outflows/inflows of resources,
available revenues, and measurable expenditures.
The Statement of Activities presents the City’s expenses first, listed by program, and follows these with
the expenses of its business-type activities. Program revenues - that is, revenues which are generated
directly by these programs - are then deducted from program expenses to arrive at the net expense of each
governmental and Business-type program. The City’s general revenues are then listed in the
Governmental Activities or Business-type Activities column, as appropriate, and the Change in Net
Position is computed and reconciled with the Statement of Net Position.
Both these Statements include the financial activities of the City and the San Rafael Joint Powers
Financing Authority which are legally separate but are considered to be component units of the City
because they are controlled by the City, which is financially accountable for their activities. The balances
and the activities of the San Rafael Sanitation District, a discretely presented component unit, are
included in these statements in a separate column.
23
CITY OF SAN RAFAEL
STATEMENT OF NET POSITION
JUNE 30, 2021
Component
Primary Government Unit
San Rafael
Governmental Business-type Sanitation
Activities Activities Total District
ASSETS
Cash and investments available for operations (Note 2)$85,718,476 $1,564,712 $87,283,188 $42,815,664
Restricted cash and investments (Note 2)1,299,504 1,299,504
Receivables:
Accounts, net 2,296,837 971,117 3,267,954 1,464,376
Intergovernmental 10,396,947 10,396,947
Grants 1,257,006 1,257,006
Interest 86,061 86,061
Loans (Note 4)304,725 304,725
Long-term receivable from San Rafael Sanitation District (Note 4E)4,924,370 4,924,370
Prepaid expenses and others 377,861 377,861 65,542
Capital assets (Note 5):
Nondepreciable 108,279,316 8,620,853 116,900,169 4,152,566
Depreciable, net 171,057,690 6,884,349 177,942,039 50,562,660
Total Assets 385,998,793 18,041,031 404,039,824 99,060,808
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to pension (Note 9)52,450,338 1,737,463 54,187,801
Deferred outflows related to OPEB (Note 11) 5,126,833 126,167 5,253,000
Total Deferred Outflows of Resources 57,577,171 1,863,630 59,440,801
LIABILITIES
Accounts payable 7,608,095 82,820 7,690,915 284,568
Deposits payable 287,695 287,695
Interest payable 38,147 38,147
Developer deposits payable 457,255 457,255
Unearned revenue 8,413,802 21,174 8,434,976
Claims payable (Note 13):
Due in one year 2,944,075 2,944,075
Due in more than one year 9,324,828 9,324,828
Compensated absences (Note 1L):
Due in one year 600,763 14,774 615,537
Due in more than one year 4,205,342 103,419 4,308,761
Long-term debt (Note 6):
Due in one year 2,755,169 306,816 3,061,985
Due in more than one year 51,173,847 4,023,785 55,197,632
Long-term payable to the City of San Rafael, due in more than one year (Note 4E)4,924,370
Net OPEB liability, due in more than one year (Note 11)25,331,613 623,387 25,955,000
Net pension liability, due in more than one year (Note 9)152,236,607 5,042,969 157,279,576
Total Liabilities 265,339,091 10,257,291 275,596,382 5,208,938
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pension (Note 9)16,802,157 556,586 17,358,743
Deferred inflows related to OPEB (Note 11)4,936,517 121,483 5,058,000
Total Deferred Inflows of Resources 21,738,674 678,069 22,416,743
NET POSITION (Note 8):
Net investment in capital assets 228,252,998 11,174,601 239,427,599 54,715,226
Restricted for:
Special revenue projects:
Housing and street improvements 12,126,119 12,126,119
Stormwater 1,168,865 1,168,865
Emergency medical services 845,028 845,028
Other 9,397,748 9,397,748
Capital projects 12,637,398 12,637,398
Total Restricted Net Position 36,175,158 36,175,158
Unrestricted (107,929,957) (2,205,300) (110,135,257) 39,136,644
Total Net Position $156,498,199 $8,969,301 $165,467,500 $93,851,870
See accompanying notes to financial statements
25
CITY OF SAN RAFAEL
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2021
Program Revenues
Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions
Primary Government
Governmental Activities:
General government $12,254,642 $388,833 $100,209
Public safety 54,736,561 5,332,486 1,588,127 $838,846
Public works and parks 20,749,666 2,719,148 3,260,167 7,780,568
Community development 5,804,134 8,390,282
Culture and recreation 10,619,181 2,932,869 184,093 99,350
Interest on long-term debt and fiscal charges 1,935,532
Total Governmental Activities 106,099,716 19,763,618 5,132,596 8,718,764
Business-type Activities:
Parking services 3,748,667 3,351,864
Total Business-type Activities 3,748,667 3,351,864
Total Primary Government $109,848,383 $23,115,482 $5,132,596 $8,718,764
Component Unit
San Rafael Sanitation District $13,790,905 $16,945,721 $5,609 $277,752
General revenues:
Taxes:
Property
Sales:
Sales and Use
Measure R quarter-cent sales
Measure E half-cent sales
Measure E quarter-cent sales
Paramedic
Transient occupancy
Franchise
Business license
Other
Investment earnings
Gain from sale of capital assets
Miscellaneous
Transfers (Note 3A)
Total general revenues and transfers
Change in Net Position
Net Position, beginning of year
Net Position, end of year
See accompanying notes to financial statements
26
Component
Primary Government Unit
San Rafael
Governmental Business-type Sanitation
Activities Activities Total District
($11,765,600)($11,765,600)
(46,977,102)(46,977,102)
(6,989,783)(6,989,783)
2,586,148 2,586,148
(7,402,869)(7,402,869)
(1,935,532)(1,935,532)
(72,484,738)(72,484,738)
($396,803)(396,803)
(396,803)(396,803)
(72,484,738)(396,803) (72,881,541)
$3,438,177
30,993,516 30,993,516 1,888,197
24,771,103 24,771,103
1,133,448 1,133,448
9,129,708 9,129,708
4,564,854 4,564,854
5,153,448 5,153,448
1,797,578 1,797,578
3,973,806 3,973,806
2,575,341 2,575,341
2,996,950 2,996,950
388,645 4,065 392,710 48,614
26,784 26,784
2,813,015 2,813,015
538,405 (538,405)
90,856,601 (534,340) 90,322,261 1,936,811
18,371,863 (931,143) 17,440,720 5,374,988
138,126,336 9,900,444 148,026,780 88,476,882
$156,498,199 $8,969,301 $165,467,500 $93,851,870
Net (Expenses) Revenues and Changes in Net Position
27
FUND FINANCIAL STATEMENTS
Major funds are defined generally as having significant activities or balances in the current year. Only
individual major funds are presented in the Fund Financial Statements, while non-major funds are combined
in a single column. Individual non-major funds may be found in the Supplemental Section.
The funds described below were determined to be major funds by the City in fiscal year 2020-2021:
GENERAL FUND
Established to account for all financial resources necessary to carry out basic governmental activities of
the City which are not accounted for in another fund. The General Fund supports essential City services
such as police and fire protection, building and street maintenance, libraries, recreation, parks, and open
space maintenance.
TRAFFIC AND HOUSING MITIGATION SPECIAL REVENUE FUND
Established to maintain long-term developer contributions for major housing and street improvement
projects.
GAS TAX SPECIAL REVENUE FUND
Established to receive and expend the City’s allocation of the State gasoline taxes.
ESSENTIAL FACILITIES CAPITAL PROJECTS FUND
Established to account for major capital improvements to public safety facilities.
29
CITY OF SAN RAFAEL
GOVERNMENTAL FUNDS
BALANCE SHEET
JUNE 30, 2021
Traffic and Essential Other Total
General Housing Facilities Capital Governmental Governmental
Fund Mitigation Gas Tax Projects Fund Funds Funds
ASSETS
Cash and investments available for operations (Note 2) $19,321,465 $6,322,450 $5,032,068 $12,173,178 $13,320,514 $56,169,675
Restricted cash and investments (Note 2)593,903 8 705,593 1,299,504
Receivables:
Accounts 1,378,253 226,086 692,498 2,296,837
Intergovernmental 9,703,853 172,853 520,241 10,396,947
Grants 31,527 1,205,775 1,237,302
Interest 85,306 755 86,061
Loans (Note 4)961 34,288 269,476 304,725
Prepaids 377,861 377,861
Total Assets $31,461,602 $6,582,824 $5,236,448 $12,173,186 $16,714,852 $72,168,912
LIABILITIES
Accounts payable $4,882,382 $24,751 $891,594 $75,796 $1,205,911 $7,080,434
Deposits payable 142,824 144,871 287,695
Developer deposits payable 453,620 3,635 457,255
Unearned revenue 8,044,443 369,359 8,413,802
Total Liabilities 13,523,269 24,751 891,594 75,796 1,723,776 16,239,186
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue:
SB90 reimbursement receivable 1,092,434 1,092,434
Total Deferred Inflows of Resources 1,092,434 1,092,434
Fund Balances (Note 8):
Nonspendable 377,861 377,861
Restricted 6,558,073 4,344,854 12,097,390 13,043,198 36,043,515
Committed 8,321,000 1,831,036 10,152,036
Assigned 7,226,153 116,842 7,342,995
Unassigned 920,885 920,885
Total Fund Balances 16,845,899 6,558,073 4,344,854 12,097,390 14,991,076 54,837,292
Total Liabilities, Deferred Inflows of Resources
and Fund Balances $31,461,602 $6,582,824 $5,236,448 $12,173,186 $16,714,852 $72,168,912
Special Revenue Funds
See accompanying notes to basic financial statements
30
CITY OF SAN RAFAEL
GOVERNMENTAL FUNDS
BALANCE SHEET - RECONCILIATION OF GOVERNMENTAL
FUND BALANCES TO NET POSITION OF GOVERNMENTAL ACTIVITIES
JUNE 30, 2021
Total fund balances reported on the governmental funds balance sheet $54,837,292
Amounts reported for Governmental Activities in the Statement of Net Position are
different from those reported in the Governmental Funds because of the following:
Capital assets used in Governmental Activities are not financial resources and,
therefore, are not reported in the Governmental Funds. 266,932,869
Internal service funds are used by management to charge the cost of management of
29,176,078
Long-term liabilities, including bonds payable, are not due and payable in the current
period and, therefore, are not reported in the Governmental Funds. (53,929,016)
Compensated absences (4,806,105)
Unavailable revenue 1,092,434
Long-term receivable from San Rafael Sanitation District 4,924,370
Deferred outflows related to pension 52,450,338
Net pension liability (152,236,607)
Deferred inflows related to pension (16,802,157)
Deferred outflows related to OPEB 5,126,833
Deferred inflows related to OPEB (4,936,517)
Net OPEB liability (25,331,613)
Net Position of governmental activities $156,498,199
building, workers' compensation, employee benefits, insurance, and post-retirement healthcare
benefits to individual funds. The assets and liabilities are included in Governmental Activities in
the Statement of Net Position.
See accompanying notes to financial statements
31
CITY OF SAN RAFAEL
GOVERNMENTAL FUNDS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2021
Traffic and Essential Other Total
Housing Facilities Capital Governmental Governmental
General Mitigation Gas Tax Projects Fund Funds Funds
REVENUES
Taxes and special assessments $76,771,466 $9,576,262 $86,347,728
Licenses and permits 3,000,666 3,000,666
Fines and forfeitures 219,030 219,030
Use of money and properties 156,398 $10,666 $7,349 $8,854 483,837 667,104
Intergovernmental 4,819,890 1,254,954 7,703,287 3,081,618 16,859,749
Charges for services 2,789,005 4,575,877 1,520,508 6,179,973 15,065,363
Other revenue 946,294 23,951 216,180 688,874 1,875,299
Total Revenues 88,702,749 5,865,448 9,447,324 8,854 20,010,564 124,034,939
EXPENDITURES
Current:
General government 10,795,698 1,345,827 285,374 12,426,899
Public safety 44,558,789 9,805,083 54,363,872
Public works and parks 12,221,102 255,736 1,846,936 787,198 15,110,972
Community development 5,520,129 750,000 6,270,129
Culture and recreation 2,604,071 7,096,668 9,700,739
Capital outlay 1,177,594 9,157,141 1,105,796 2,194,535 13,635,066
Debt service:
Principal 2,563,711 2,563,711
Interest and fiscal charges 2,443,476 2,443,476
Total Expenditures 80,706,976 3,529,157 11,004,077 1,105,796 20,168,858 116,514,864
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 7,995,773 2,336,291 (1,556,753) (1,096,942) (158,294) 7,520,075
OTHER FINANCING SOURCES (USES)
Transfers in (Note 3A)3,089,518 30,000 1,836,629 2,593,443 7,549,590
Transfers out (Note 3A)(4,046,072)(646,000) (1,117,225) (519,826) (6,329,123)
Total Other Financing Sources (Uses)(956,554)(616,000) 719,404 2,073,617 1,220,467
Net Change in Fund Balances 7,039,219 2,336,291 (2,172,753) (377,538) 1,915,323 8,740,542
FUND BALANCES, BEGINNING OF YEAR 9,806,680 4,221,782 6,517,607 12,474,928 13,075,753 46,096,750
FUND BALANCES, END OF YEAR $16,845,899 $6,558,073 $4,344,854 $12,097,390 $14,991,076 $54,837,292
See accompanying notes to financial statements
Special Revenue Funds
32
CITY OF SAN RAFAEL
Reconciliation of the
NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS
with the
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2021
NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS $8,740,542
Amounts reported for Governmental Activities in the Statement of Activities are
different because of the following:
Capital Assets Transactions
Governmental funds report capital outlays as expenditures. However, in the Statement of Activities the cost of
those assets is capitalized and allocated over their estimated useful lives and reported as depreciation expense.
Capital outlay and improvement expenditures are added back to fund balance 13,660,847
Loss on disposal of capital assets is deducted from fund balance (57,523)
Depreciation expense is deducted from fund balance (6,992,063)
(Depreciation expense is net of internal service fund depreciation of $1,338,781, which has
already been allocated to serviced funds.)
Long-Term Debt Proceeds and Payments
Governmental funds record proceeds and payments as other financing sources and expenditures.
However, in the Statement of Net Position, those costs are reversed as increases and decreases
in long-term liabilities.
Repayments on long-term debt principal 2,563,711
Amortized bond premium expense is added back to fund balance 507,944
Accrual of Non-Current Items
The amount below included in the Statement of Activities does not require the use of current financial
Compensated absences (42,151)
Unavailable revenue (181,483)
Long-term receivable from San Rafael Sanitary District (12,679)
Net Pension Liability Transactions
Governmental funds record pension expense as it is paid. However,
in the Statement of Activities those costs are reversed as deferred outflows/(inflows)
and an increase/(decrease) in net pension liability. (5,716,485)
Net OPEB Liability Transactions
Governmental funds record OPEB expense as it is paid. However,
in the Statement of Activities those costs are reversed as deferred outflows/(inflows)
and an increase/(decrease) in net OPEB liability. 1,502,922
Allocation of Internal Service Fund Activities
Internal service funds are used by management to charge the costs of certain activities to individual
funds. The net revenue of the internal service fund is reported with governmental activities. 4,398,281
Change in Net Position of Governmental Activities $18,371,863
See accompanying notes to financial statements
resources and therefore is not reported as revenue or expenditures in governmental funds (net change):
33
PROPRIETARY FUND FINANCIAL STATEMENTS
Proprietary funds account for City operations financed and operated in a manner similar to a private business
enterprise. The intent of the City is that the cost of providing goods and services be financed primarily
through user charges, whether external or internal.
The City reports its only enterprise fund as a major fund.
PARKING SERVICES FUND
Established to maintain parking garages, lots, and spaces in the Downtown Parking District, and to pay
for parking enforcement and meter collection.
INTERNAL SERVICE FUNDS
Established to account for department services and financing performed for other departments within the
same governmental jurisdiction. Funding comes from charges assessed to the departments benefiting
from the service.
35
CITY OF SAN RAFAEL
PROPRIETARY FUNDS
STATEMENT OF NET POSITION
JUNE 30, 2021
Business-type
Activities - Governmental
Enterprise Fund Activities
Parking Internal
Services Service Funds
ASSETS
Current Assets:
Cash and investments available for operations (Note 2) $1,564,712 $29,548,801
Receivable:
Accounts, net 971,117
Grants 19,704
Total Current Assets 2,535,829 29,568,505
Noncurrent Assets:
Capital assets (Note 5):
Nondepreciable 8,620,853 346,647
Depreciable, net 6,884,349 12,057,490
Total Noncurrent Assets 15,505,202 12,404,137
Total Assets 18,041,031 41,972,642
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to pension (Note 9) 1,737,463
Deferred outflows related to OPEB (Note 11) 126,167
Total Deferred Outflows of Resources 1,863,630
LIABILITIES
Current Liabilities:
Accounts payable 82,820 527,661
Interest payable 38,147
Unearned revenue 21,174
Compensated absences, due in one year (Note 1L) 14,774
Claims payable, due in one year (Note 13) 2,944,075
Long-term debt, due in one year (Note 6) 306,816
Total Current Liabilities 463,731 3,471,736
Noncurrent Liabilities:
Compensated absences (Note 1L) 103,419
Claims payable (Note 13)9,324,828
Long-term debt (Note 6) 4,023,785
Net OPEB liability (Note 11) 623,387
Net pension liability (Note 9) 5,042,969
Total Noncurrent Liabilities 9,793,560 9,324,828
Total Liabilities 10,257,291 12,796,564
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pension (Note 9) 556,586
Deferred inflows related to OPEB (Note 11) 121,483
Total Deferred Inflows of Resources 678,069
NET POSITION (Note 8):
Net investment in capital assets 11,174,601 12,404,137
Unrestricted (2,205,300) 16,771,941
Total Net Position $8,969,301 $29,176,078
See accompanying notes to financial statements
36
CITY OF SAN RAFAEL
PROPRIETARY FUNDS
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
FOR THE YEAR ENDED JUNE 30, 2021
Business-type
Activities - Governmental
Enterprise Fund Activities
Parking Internal
Services Service Funds
OPERATING REVENUES
Charges for current services $1,767,713 $19,645,714
Other operating revenues 1,584,151 926,086
Intergovernmental 19,704
Total Operating Revenues 3,351,864 20,591,504
OPERATING EXPENSES
Personnel 2,199,288 3,935,030
Insurance premiums and claims 6,730,673
Maintenance and repairs 57,192 151,407
Depreciation expense (Note 5) 234,619 1,338,781
General and administrative 1,075,847 3,434,988
Total Operating Expenses 3,566,946 15,590,879
Operating Income (215,082) 5,000,625
NONOPERATING REVENUES (EXPENSES)
Investment income 4,065 52,934
Interest expense (159,113)
(Loss) gain from sale of capital assets (22,608) 26,784
Total Nonoperating Revenues (Expenses) (177,656) 79,718
Income Before Contributions and Transfers (392,738) 5,080,343
TRANSFERS OUT (Note 3A) (538,405) (682,062)
Change in Net Position (931,143) 4,398,281
NET POSITION, BEGINNING OF YEAR 9,900,444 24,777,797
NET POSITION, END OF YEAR $8,969,301 $29,176,078
See accompanying notes to financial statements
37
CITY OF SAN RAFAEL
PROPRIETARY FUNDS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2021
Business-type
Activities - Governmental
Enterprise Fund Activities
Parking Internal
Services Service Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers/other funds $1,767,713 $19,726,562
Cash payments to suppliers for goods and services (1,110,840) (13,164,301)
Cash payments to employees for salaries and benefits (2,055,896) (1,286,053)
Other revenues 1,310,490 926,086
Cash Flows from Operating Activities (88,533) 6,202,294
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Interfund payments (538,405) (682,062)
Cash Flows from Noncapital
Financing Activities (538,405) (682,062)
CASH FLOWS FROM CAPITAL
AND RELATED FINANCING ACTIVITIES
Principal payments on revenue bonds and note payable (296,816)
Interest expenses and fiscal charges (160,563)
Acquisition of capital assets (30,986) (519,649)
Proceeds from sale of property 35,187
Cash Flows from Capital and
Related Financing Activities (488,365) (484,462)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 4,065 52,934
Cash Flows from Investing Activities 4,065 52,934
NET CHANGE IN CASH AND CASH EQUIVALENTS (1,111,238) 5,088,704
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,675,950 24,460,097
CASH AND CASH EQUIVALENTS, END OF YEAR $1,564,712 $29,548,801
Reconciliation of operating income to net cash
provided by operating activities:
Operating income ($215,082) $5,000,625
Adjustments to reconcile operating income
to cash flows from operating activities:
Depreciation 234,619 1,338,781
Net change in assets and liabilities:
Accounts receivable (275,719) 61,144
OPEB system (42,078)
Accounts payable 22,199 (46,882)
Unearned revenue 2,058
Compensated absence obligations (534)
Retirement system 186,004
Claims payable (151,374)
Net Cash Provided by Operating Activities ($88,533) $6,202,294
NON-CASH TRANSACTIONS:
Retirement of capital assets ($22,608) ($8,403)
Amortization of bond discount $725
See accompanying notes to basic financial statements
38
FIDUCIARY FUND FINANCIAL STATEMENTS
Fiduciary funds are used to account for assets held by the City as an agent or custodian for other entities.
The financial activities of such funds are excluded from the Government-wide financial statements and
present fund statements that consist of a Statement of Net Position and a Statement of Changes in Net
Position.
SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY – PRIVATE PURPOSE
TRUST FUND
Established to account for the activities of the Successor Agency to the San Rafael Redevelopment
Agency.
PT. SAN PEDRO ROAD ASSESSMENT DISTRICT CUSTODIAL FUND
Established to accumulate funds for payment of principal and interest for Pt. San Pedro Road Median
Landscaping Assessment District bonds.
39
Successor Agency
to the Pt. San Pedro
Redevelopment Road Assessment
Agency District
Private-Purpose Custodial
Trust Fund Fund
ASSETS
Cash and investments (Note 2)$229,646
Receivables:
Taxes $3,547,605 940
Total Assets 3,547,605 230,586
LIABILITIES
Interest payable 14,053 21,686
Long-term debt (Note 15C):
Due within one year 3,445,000
Due more than one year 3,485,896
Total Liabilities 6,944,949 21,686
NET POSITION (DEFICIT)
Restricted for:
Other governments (3,397,344)
Bondholders 208,900
Total Net Position ($3,397,344)$208,900
See accompanying notes to financial statements
CITY OF SAN RAFAEL
FIDUCIARY FUNDS
STATEMENT OF FIDUCIARY NET POSITION
JUNE 30, 2021
40
Successor Agency
to the Pt. San Pedro
Redevelopment Road Assessment
Agency District
Private-Purpose Custodial
Trust Fund Fund
ADDITIONS
Property taxes $3,913,358 $133,955
Total Additions 3,913,358 133,955
DEDUCTIONS
General government 102,397
Payments to bondholders 79,901
Interest expense 343,589 61,722
Total Deductions 445,986 141,623
Change in Net Position 3,467,372 (7,668)
NET POSITION
Beginning of year, as restated (Note 1S)(6,864,716)216,568
End of year ($3,397,344)$208,900
CITY OF SAN RAFAEL
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FOR THE YEAR ENDED JUNE 30, 2021
See accompanying notes to financial statements
41
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A.Description of the Financial Reporting Entity
As required by generally accepted accounting principles, the financial statements present the City of
San Rafael (the City) as the Primary Government, with its component units for which the City is
considered financially accountable. The component units discussed below are included in the City's
reporting entity because of the significance of their operational and financial relationships with the
City.
B.Description of Blended Component Units
The accompanying basic financial statements include all funds and boards and commissions that
are controlled by the City Council. The basic financial statements include the City’s blended
component units, entities for which the City is considered to be financially accountable. A
blended component unit, although a legally separate entity, is in substance, part of the City’s
operations and so data from this entity is combined with the City. The City’s blended component
unit is described below.
San Rafael Joint Powers Financing Authority – The San Rafael Joint Powers Financing
Authority (Authority) was formed by the City of San Rafael and the former San Rafael
Redevelopment Agency (Agency) pursuant to Articles 1 and 2 of Chapter 5 of Division 7 of Title
1 of the Government Code of the State of California for the purpose of assisting in the financing
and refinancing of certain assessment district and redevelopment-related activities in the City. On
March 18, 2013, the Agency was replaced by the California Municipal Finance Authority
(CMFA) in order that the life of the Authority would extend beyond that of the Agency. The
Authority is administered by a governing board whose members are the City Council of the City.
Activities of the Authority related to the 2012 Authority Lease Revenue Refunding Bonds are
reported in the Parking Services Enterprise Fund. Activities of the Authority related to the 2018
Authority Lease Revenue Bonds are reported in the City’s General Fund and the Essential
Facilities Capital Projects Fund. Separate financial statements are not prepared for the Authority.
C.Description of Discretely Presented Component Unit
San Rafael Sanitation District – The San Rafael Sanitation District (District) was formed in
1947 under Section 4700 of the California Health and Safety Code to provide wastewater
transmission over the southern two-thirds of the City and adjacent unincorporated areas.
The District is governed by a three-member Board of Directors who are appointed to four-year
terms. The City Council of the City appoints two out of the three board members and has the
ability to remove the two board members at will.
The City contracts with the District to maintain the collection systems in the City and surrounding
unincorporated areas. These employees are paid through the City’s payroll department and
participate in the City’s cost-sharing multiple-employer defined benefit pension plan administered
by the Marin County Employees’ Retirement Association. The employees also participate in the
City’s healthcare benefits plan which includes a provision for postemployment benefits. These
costs are the obligation of the District and not the City. As discussed in Note 4E, a receivable
from the District has been established.
43
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The District’s activities are reported as a discretely presented component unit in a separate
column in the basic financial statements which includes the District’s assets, liabilities, revenues,
expenses, results of operations and cash flows. The District’s fiscal year ends on June 30 and its
separately issued component unit financial statements can be obtained at the San Rafael
Sanitation District, 111 Morphew Street, San Rafael, California 94901.
D.Basis of Presentation
Government-wide Statements – The Statement of Net Position and the Statement of Activities
display information about the primary government (the City) and its component units. These
statements include the financial activities of the overall City government, except for fiduciary
activities. Interfund transfers and amounts owed between funds within the primary government
have been eliminated from the statements. Amounts representing interfund services and uses
remain in the statements. These statements distinguish between the governmental and business-
type activities of the City. Governmental activities generally are financed through taxes,
intergovernmental revenues, and other nonexchange transactions. Business-type activities are
financed in whole or in part by fees charged to external parties.
The Statement of Activities presents a comparison between direct expenses and program revenues
for each segment of the business-type activities of the City and for each function of the City’s
governmental activities. Direct expenses are those that are specifically associated with a program
or 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.
Fund Financial Statements – The fund financial statements provide information about the City’s
funds, including fiduciary funds and blended component units. Separate statements for each fund
category – governmental, proprietary, and fiduciary – are presented. The emphasis of fund
financial statements is on major individual governmental and enterprise funds, each of which is
displayed in a separate column. All remaining governmental and enterprise funds are aggregated
and reported as non-major 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.
E. Major Funds and Other Reported Funds
Major funds are defined as funds that have either assets and deferred outflows of resources,
liabilities and deferred inflows of resources, 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.
44
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The City reported the following major governmental funds in the accompanying financial
statements:
General Fund – Established to account for all financial resources necessary to carry out basic
governmental activities of the City which are not accounted for in another fund.
Traffic and Housing Mitigation Special Revenue Fund – Established to maintain long-term
developer contributions for major housing and street improvement projects.
Gas Tax Special Revenue Fund – Established to receive and expend the City’s allocation of
State gasoline taxes.
Essential Facilities Capital Projects Fund – Established to account for major capital
improvements to public safety facilities.
The City reported its only enterprise fund as a major fund in the accompanying financial
statements. The enterprise fund is:
Parking Services Fund – Established to maintain parking garages, lots, and spaces in the
Downtown Parking District, and to pay for parking enforcement, meter collection, and downtown
enforcement services.
The City also reports the following fund types:
Internal Service Funds – These funds account for: building maintenance; vehicle, equipment,
radio, and telephone replacement; employee benefits; liability insurance; workers’ compensation;
dental insurance; employee retirement; retiree medical (OPEB); and sewer maintenance.
Fiduciary Funds – These funds include: Successor Agency to the Redevelopment Agency Private-
Purpose Trust Fund – which accounts for the accumulation of resources held by the Successor
Agency to the Redevelopment Agency to be used for payments at appropriate amounts and times
in the future; and Pt. San Pedro Road Assessment District Custodial Fund – which accumulates
funds for the payment of principal and interest for Pt. San Pedro Road Median Landscaping
District bonds. The financial activities of these funds are excluded from the government-wide
financial statements, but are presented in the separate Fiduciary Fund financial statements.
F. Basis of Accounting
The government-wide, proprietary, fiduciary and discretely presented component unit 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.
45
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (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 with the exception of
sales and use tax revenues which are reported as available if collected within ninety days of year-
end. Expenditures are recorded when the related fund liability is incurred, except for principal
and interest on long-term debt, claims and judgments, and compensated absences, which are
recognized as expenditures to the extent they have matured. General capital asset acquisitions are
reported as expenditures in governmental funds. Proceeds from long-term debt and acquisitions
under capital leases are reported as other financing sources.
Those revenues susceptible to accrual are property and sales taxes, certain intergovernmental
revenues, interest revenue, charges for services, fines, and forfeitures. Other receipts and taxes
are recognized as revenue when the cash is received.
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. Revenue from grants, entitlements, and donations is recognized in the fiscal year in
which all eligibility requirements have been satisfied. Under the terms of grant agreements, the
City may fund certain programs with a combination of cost-reimbursement grants, categorical
block grants, and general revenue. Thus, both restricted and unrestricted net position may be
made available to finance program expenditures. The City’s policy is to first apply restricted
grant resources to such programs, followed by general revenues if necessary.
The City considers restricted shared state revenues such as gasoline taxes and public safety sales
taxes, restricted locally imposed transportation sales taxes, fines, forfeitures, licenses, permits,
charges for services, and program grants as program revenues.
Certain indirect costs are included in program expenses reported for individual functions and
activities.
G. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position or balance sheet will sometimes report a
separate section for deferred outflows of resources. This separate financial statement element,
deferred outflows of resources, represents a consumption of net 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.
46
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
In addition to liabilities, the statement of financial position or balance sheet will sometimes report
a separate section for deferred inflows of resources. This separate financial statement element,
deferred inflows of resources, represents an acquisition of net 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. Unavailable revenue, a type of deferred inflow of resources, is reported in the
governmental funds balance sheet. The governmental funds report unavailable revenues from one
source, intergovernmental receivables. These amounts are deferred and recognized as an inflow
of resources in the period that the amounts become available.
H. Budgets, Budgetary Accounting, and Encumbrances
The City adopts an annual budget which is effective July 1 for the ensuing fiscal year. The budget
reflects estimated revenues and expenditures, except for the capital projects funds and the Peacock
Gap Assessment District and Mariposa Assessment District Debt Service Funds. Appropriations
and spending authorizations for projects in the capital projects funds and some special revenue
funds are approved by the City Council on a multi-year basis. From the effective date of the budget,
which is adopted at the department level, the amounts stated therein as proposed expenditures
become appropriations to the various City departments. The City Council may amend the budget by
resolution during the fiscal year in order to respond to emerging needs, changes in resources, or
shifting priorities. Expenditures may not exceed appropriations at the fund level, which is the legal
level of control. The City Manager is authorized to transfer budgeted amounts between accounts,
departments, or funds; the Council must approve any increase in the City’s operating expenditures,
appropriations for capital projects, and transfers between major funds and reportable fund groups.
Budgets are adopted on a basis consistent with Generally Accepted Accounting Principles for the
General Fund, Special Revenue Funds and the 1997 Financing Authority Revenue Bonds Debt
Service Fund.
Encumbrance accounting, under which purchase orders for expenditures are recorded in order to
reserve that portion of the applicable appropriation, is employed as an extension of the budgetary
process. All unencumbered appropriations lapse at year end.
For the fiscal year ended June 30, 2021, the following expenditures exceeded the budgeted
appropriations:
Expenditures
Exceeded Budget
Pt. San Pedro - Maintenance Portion Special Revenue Fund $10,172
Low and Moderate Income Housing Special Revenue Fund 11,879
Measure C - Wildfire Prevention Special Revenue Fund 575,449
The above expenditures exceeded the budgeted appropriations, however, there were sufficient
revenues to cover the excess expenditures during the fiscal year in each of the funds.
47
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
I. Cash Equivalents
For purposes of the statement of cash flows, the City considers all highly liquid investments
(including all restricted assets) with maturities of three months or less when purchased to be cash
equivalents. The City maintains a cash and investment pool that is available for use by all funds.
As the proprietary funds' share of this pool is readily available when needed, such share is also
considered to be cash equivalent.
J. Prepaids
Certain payments to vendors reflect costs applicable to future accounting periods and are
recorded as prepaid items in both the government-wide and fund financial statements. The cost of
prepaid items is recorded as expenditures/expenses when consumed rather than when purchased.
K. Capital Assets
City
Contributed capital assets are valued at their estimated acquisition value on the date contributed.
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.
Major outlays for capital assets and improvements are capitalized as projects are constructed.
Interest incurred during the construction phase is reflected in the capitalized value of the asset
constructed, net of interest earned on the invested proceeds over the same period.
City policy has set the capitalization thresholds for reporting capital assets at the following:
General capital assets ranging from $5,000 to $50,000
Infrastructure capital assets ranging from $25,000 to $250,000
Depreciation is provided using the straight-line method which means the cost of the asset is divided
by its expected useful life in years and the result is charged to expense each year until the asset is
fully depreciated. The purpose of depreciation is to spread the cost of capital assets equitably
among all users over the life of these assets. The amount charged to depreciation expense each year
represents that year’s pro rata share of the cost of capital assets.
The City has assigned the useful lives listed below to capital assets:
Buildings, improvements, and structures 20 – 50 years
Machinery and equipment 4 – 20 years
Infrastructure 15 – 50 years
48
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
District
Collection systems and facilities purchased or constructed are stated at cost. Assets contributed are
recorded at the estimated acquisition value at the date received. Interest is capitalized for assets
constructed when applicable. The costs of normal repairs and maintenance that do not add to the
value of an asset or materially extend asset lives are not capitalized. Improvements are capitalized
and depreciated over the remaining useful lives of the related capital assets, as applicable.
Applicable capital assets must be capitalized for amounts $1,000 or above and may be capitalized
for amounts from $500 to $1,000 if determined to be sensitive. Depreciation is provided by the
straight-line method over the estimated useful lives of capital assets as follows:
Subsurface lines 50 – 80 years
Sewage collection facilities 5 – 50 years
General plant and administrative facilities 3 – 15 years
L. Compensated Absences
Compensated absences are accrued as earned. Upon termination, employees are paid for all unused
vacation at their current hourly rates. Unused sick leave may be compensable up to 600 hours,
depending upon the provisions of the MOUs, which vary by bargaining unit.
The long-term portion of the liability for compensated absences for governmental fund type
operations is recorded as compensated absences in the government-wide financial statements.
Compensated absences are liquidated by the fund that has recorded the liability. Proprietary fund
liabilities are recorded within their respective funds. The long-term portion of governmental
activities compensated absences is liquidated primarily by the General Fund.
The changes in compensated absences as of June 30, 2021 were as follows:
Governmental Business-Type
Activities Activities Total
Beginning Balance $4,763,954 $118,727 $4,882,681
Additions 3,014,334 84,914 3,099,248
Payments (2,972,183) (85,448) (3,057,631)
Ending Balance $4,806,105 $118,193 $4,924,298
Current Portion $600,763 $14,774 $615,537
49
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
M.Property Tax Levy, Collection and Maximum Rates – City
State of California Constitution Article XIII A provides that the combined maximum property tax
rate on any given property may not exceed 1% of its assessed value unless an additional amount for
general obligation debt has been approved by voters. Assessed value is calculated at 100% of market
value as defined by Article XIII A and may be adjusted by no more than 2% per year unless the
property is sold, transferred, or substantially improved. The State Legislature has determined the
method of distribution of receipts from a 1% tax levy among the counties, cities, school districts and
other districts. Marin County assesses properties, bills for, and collects property taxes on the
schedule that follows:
Secured Unsecured
Valuation/lien dates January 1 January 1
Levy dates July 1 July 1
Due dates (delinquent as of) 50% on November 1 (December 10) July 1 (August 31)
50% on February 1 (April 10)
For assessment and collection purposes, property is classified as either “secured” or “unsecured” and
is listed accordingly on separate parts of the assessment roll. The “secured roll” is that part of the
assessment roll containing State-assessed property and real property having a tax lien that is
sufficient, in the opinion of the County Assessor, to secure payment of the taxes. Unsecured property
comprises all taxable property not attached to land, such as personal property or business property.
Every tax levied by a county that becomes a lien on secured property has priority over all present and
future private liens arising pursuant to State law on the secured property, regardless of the time of the
creation of the other liens. A tax levied on unsecured property does not become a lien against the
taxed unsecured property, but may become a lien on other property owned by the taxpayer.
Property taxes are levied and recorded as revenue when received in the fiscal year of levy because of
the adoption of the “alternate method of property tax distribution,” known as the Teeter Plan, by the
City and the County of Marin. The Teeter Plan authorized the auditor-controller of the County of
Marin to allocate 100% of the secured property taxes billed, but not yet paid. The County of Marin
remits tax monies to the City in three installments, as follows:
55% remitted on December 15
40% remitted on April 15
5% remitted on June 15
N.Sewer Charges – District
Sewer charges are billed and collected on behalf of the District by the County of Marin as a
special assessment on annual property tax billings. Property taxes are levied on January 1 and are
due in two equal installments on November 1 and February 1 and become delinquent December
10 and April 10, for the first and second installments, respectively. In accordance with the Teeter
Plan, the County remits to the District all charges which are assessed and the county retains
responsibility for collecting past due amounts.
The Teeter Plan provides that the County advance the District its share of the annual gross levy of
secured property taxes and special assessments. In consideration, the District gives the County of
Marin its rights to penalties and interest on delinquent secured property tax receivables and actual
proceeds collected.
50
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
O. Connection Fees – District
Connection fees represent a one-time contribution of resources to the District imposed on
contractors and developers for the purpose of financing capital improvements. Connection fees
are recognized after non-operating revenues (expenses) in the statement of revenues, expenses,
and changes in net position. The District utilizes connection fees received on a first-in-first-out
basis to finance current year capital projects. Accordingly, if there is a balance of connection fees
available at year-end, it is classified as restricted net position.
P. 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.
If the fair value of an asset or liability is measured using inputs from more than one level of the fair
value hierarchy, the measurement is considered to be based on the lowest priority level input that is
significant to the entire measurement.
Q. Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent asset and liabilities at the dates of the financial statements
and the reported amounts of revenues and expenditures/expenses during the reporting periods.
Actual results could differ from those estimates.
R. Closed Funds
The Peacock Gap Assessment District, Mariposa Assessment District and the 1997 Financing
Authority Revenue Bonds Debt Service Funds were closed as of June 30, 2021.
51
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
S. New Accounting Pronouncement
In January 2017, GASB issued GASB Statement No. 84, Fiduciary Activities. The objective of
this Statement is to improve guidance regarding the identification of fiduciary activities for
accounting and financial reporting purposes and how those activities should be reported. This
Statement describes four fiduciary funds that should be reported, if applicable: (1) pension (and
other employee benefit) trust funds, (2) investment trust funds, (3) private-purpose trust funds,
and (4) custodial funds. Custodial funds generally should report fiduciary activities that are not
held in a trust or equivalent arrangement that meets specific criteria. The provisions of this
Statement were implemented during fiscal year 2021. As part of the implementation of this
Statement, it was determined that the Pt. San Pedro Road Assessment District Agency Fund be
accounted for and reported as a Custodial Fund, which required the restatement of beginning net
position of the fund in the amount of $216,568.
NOTE 2 - CASH AND INVESTMENTS
A. Policies
The City maintains an investment policy that emphasizes safety, liquidity, and reasonable market
yield. This policy is reviewed and approved by the City Council annually.
The City invests in individual investments and in investment pools. Individual investments are
evidenced by specific identifiable securities instruments, or by an electronic entry registering the
owner in the records of the institution issuing the security, called the book entry system. In order to
increase security, the City employs the trust department of a bank as the custodian of certain City
managed investments, regardless of their form.
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’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.
52
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 2 - CASH AND INVESTMENTS (Continued)
B. Classification
Cash and investments as of June 30, 2021, are classified in the financial statements as shown below,
based on whether or not their use is restricted under the terms of City debt instruments or agency
agreements.
Statement of Net Position:
City of San Rafael:
Cash and investments available for operations $87,283,188
Restricted cash and investments 1,299,504
Total Primary Government Cash and Investments 88,582,692
San Rafael Sanitation District (Component Unit):
Cash and investments available for operations 42,815,664
Total San Rafael Sanitation District Cash and Investments 42,815,664
Statement of Fiduciary Net Position (separate statement):
Pt. San Pedro Road Assessment District Custodial Fund:
Restricted cash 229,646
Total Fiduciary Cash 229,646
Total Cash and Investments $131,628,002
53
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 2 - CASH AND INVESTMENTS (Continued)
The City does not normally allocate investments by fund. Each proprietary fund’s portion of Cash
and Investments Available for Operations is in substance a demand deposit available to finance
operations, and is considered a cash equivalent in preparing the statement of cash flows.
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 securities 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 it is more
restrictive:
Minimum Maximum Maximum
Maximum Credit Percentage of Investment in
Authorized Investment Type Maturity Quality (A) Portfolio (A)One Issuer
U.S. Government Obligations 5 years N/A No limit No limit
Federal Agency Securities and Instruments 5 years N/A No limit No limit
Repurchase Agreements 1 year N/A No limit No limit
Prime Commercial Paper 270 days A-1 25% 10% of total outstanding
commercial paper and
5% of portfolio
Banker's Acceptances 180 days A 40%$2,000,000
Medium-Term Corporate Notes 5 years A 30%5% of portfolio
Negotiable Certificates of Deposit 5 years A-1 30%5% of portfolio
Non-negotiable Certificates of Deposit 5 years N/A 30%5% of portfolio
Local Agency Investment Fund N/A N/A N/A $75m Per Account
Money Market Funds N/A AAAm 10%N/A
Mortgage and Asset-Backed Obligations 5 years AA 20%N/A
Supranational Securities 5 years AA 15%N/A
Limited Obligation Improvement Bonds Related to
Special Assessment Districts and Special Tax
Districts issued by the City of San Rafael 30 years N/A N/A N/A
(A) At time of purchase
The San Rafael Sanitation District maintains all of its cash in the County of Marin pooled
investment fund for the purpose of increasing interest earnings through pooled investment
activities.
The County Pool includes both voluntary and involuntary participation from external entities.
The District is a voluntary participant. The State of California statutes require certain special
districts and other governmental entities to maintain their cash surplus with the County Treasurer.
The District has approved by resolution, the investment policy of the County of Marin which
complies with the California Government Code.
54
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 2 - CASH AND INVESTMENTS (Continued)
D. Investments Authorized by Debt Agreements
The City must maintain required amounts of cash and investments with trustees or fiscal agents
under the terms of certain debt issues. These funds are unexpended bond proceeds or are pledged
as reserves to be used if there are insufficient resources to meet debt repayment obligations. The
California Government Code requires these funds to be invested in accordance with City
ordinance bond indentures or State statute. The table below identifies the investment types that
are authorized for investments held by fiscal agents. The table also identifies certain provisions of
these debt agreements:
Maximum
Maturity
U.S. Treasury Obligations 5 years to no
maximum
N/A No Limit
U.S. Agency Securities 3 - 5 years N/A No Limit
U.S. Agency Instruments 5 years N/A No Limit
Repurchase Agreements 1 year A-1 No Limit
Banker's Acceptances 360 days Highest Category Rating No Limit
Money Market Mutual Funds N/A Highest Category Rating No Limit
Prime Commercial Paper 270 days Highest Category Rating No Limit
N/A Highest Category Rating No Limit
Medium-Term Corporate Notes 5 Years A No Limit
Non-Negotiable Certificates of Deposit 180 Days N/A No Limit
Negotiable Certificates of Deposit 5 Years N/A No Limit
Local Agency Investment Fund N/A N/A No Limit
California Asset Management Program N/A N/A No Limit
Deposit Accounts N/A A No Limit
Defeasance Securities N/A N/A No Limit
(A) At time of purchase.
(B) Guaranteed Investment Contracts must be fully collateralized with U.S. Treasur y or U.S. Agency Obligations.
Maximum
Percentage of
Portfolio
Guaranteed Investment Contracts (fully
collateralized) (B)
Authorized Investment Type Minimum Credit Quality (A)
55
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 2 - CASH AND INVESTMENTS (Continued)
E. Fair Value Hierarchy
The following is a summary of the fair value hierarchy of the fair value of investments of the
City as of June 30, 2021:
(a)(b)(c)
Level 1 Level 2 Level 3 Total
City:
Money Market Funds $672,976 $672,976
U.S. Government Obligations $4,439,181 4,439,181
Federal Agency Securities and Instruments 13,695,845 13,695,845
Medium-Term Corporate Notes 14,048,285 14,048,285
Investment in Pt. San Pedro Bonds $1,195,628 (d)1,195,628
$4,439,181 $28,417,106 $1,195,628 34,051,915
Investments Exempt from Fair Value Hierarchy:
Local Agency Investment Fund 45,372,347
Marin County Investment Pool 81,348
Total Investments 79,505,610
Cash in banks and on hand 9,077,082
Total City Cash and Investments 88,582,692
Fiduciary:
Cash in banks 229,646
Total Fiduciary Cash 229,646
Total City and Fiduciary Cash 88,812,338
San Rafael Sanitation District:
Marin County Investment Pool 42,815,664
42,815,664
Total Cash and Investments $131,628,002
Source: The above GASB 72 Classifications in the different input levels are provided by US Bank Institution Trust &
(a)Level 1 inputs are quoted prices in active market for identical assets. These are quoted prices in active markets f
identical assets at the measurement date. An active market for the asset is a market in which transactions for the
asset occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
(b)Level 2 inputs are significant other observable inputs. These inputs include: a) Quoted prices for similar assets i
active markets; b) Quoted prices for identical or similar assets in markets that are not active; and c) Inputs othe
than quoted prices that are observable for an asset.
(c)Level 3 inputs are significant unobservable inputs. These inputs shall be used to measure fair value to the exten
that observable inputs are not available, thereby allowing for situations in which there is little, if any, market act
for the asset at the measurement date.
(d)This pertains to the City-owned bonds of its investments in Pt. San Pedro that has no trading market and is thus
listed under Level 3. This bond is valued using discounted cash flow techniques.
District's Total Cash and Investments
56
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 2 - CASH AND INVESTMENTS (Continued)
F. 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 also manages its interest rate risk by holding
most investments to maturity, thus reversing unrealized market gains and losses.
Information about the sensitivity of the fair values of the City’s investments (including investments
held by bond trustee) to market interest rate fluctuations is provided by the following table that
shows the distribution of the City’s investments by maturity or earliest call date:
12 Months More than
Type of Investment or Less 12 Months Total
City:
Money Market Funds $672,976 $672,976
Local Agency Investment Fund 45,372,347 45,372,347
Marin County Investment Pool 81,348 81,348
U.S. Government Obligations $4,439,181 4,439,181
Federal Agency Securities and Instruments 4,393,483 9,302,362 13,695,845
Medium-Term Corporate Notes 1,214,676 12,833,609 14,048,285
Investment in Pt. San Pedro Bonds 1,195,628 1,195,628
Total Investments $51,734,830 $27,770,780 79,505,610
Cash in banks and on hand 9,077,082
Total City Cash and Investments 88,582,692
Fiduciary:
Cash in banks 229,646
Total Fiduciary Cash 229,646
Total City and Fiduciary Cash 88,812,338
San Rafael Sanitation District:
Marin County Investment Pool 42,815,664
Total District's Cash and Investments 42,815,664
Total Cash and Investments $131,628,002
57
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 2 - CASH AND INVESTMENTS (Continued)
The City is a 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 reports its investment in LAIF at the fair value amount provided by LAIF,
which is the same as the value of the pool share. The balance is available for withdrawal on
demand, and is based on the accounting records maintained by LAIF, which are recorded on an
amortized cost basis. Each regular LAIF account is permitted to have up to 15 transactions per
month, with a minimum transaction amount of $5,000, a maximum transaction amount of $75
million and at least 24 hours advance notice for withdrawals of $10 million or more.
Included in LAIF’s investment portfolio are collateralized mortgage obligations, mortgage-backed
securities, other asset-backed securities, loans to certain state funds, and floating rate securities issued
by federal agencies, government-sponsored enterprises, United States Treasury Notes and Bills, and
corporations. At June 30, 2021, these investments matured in an average of 291 days.
Money Market Mutual Funds are available for withdrawal on demand. The investment portfolio of
the Money Market Mutual Fund had an average maturity of 20 days at June 30, 2021.
The County’s investment pool is not registered with the Securities and Exchange Commission as an
investment company. The pool has a credit rating of “AAA/V1.” Investments made by the Treasurer
are regulated by the California Government Code and by the County’s investment policy. The
objectives of the policy are in order of priority, safety, liquidity, yield, and public trust. The County
has established a treasury oversight committee to monitor and review the management of public
funds maintained in the investment pool in accordance with Article 6 Section 27131 of the California
Government Code. The oversight committee and the Board of Supervisors review and approve the
investment policy annually. The County Treasurer prepares and submits a comprehensive investment
report to the members of the oversight committee and the investment pool participants every month.
The report covers the types of investments in the pool, maturity dates, par value, actual costs, and fair
value.
58
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 2 - CASH AND INVESTMENTS (Continued)
G. 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. Presented below is the actual rating as of June 30, 2021, for each of the City’s or
District’s investment types as provided by Standard and Poor’s or Moody’s investment rating
systems, except as noted:
Percentage
Amount of
Investments Invested Investments NRSRO Rating
City:
Money Market Funds $672,976 < 1%AAAm
Marin County Investment Pool 81,348 < 1%Aaa/AAA
U.S. Government Obligations 4,439,181 6%AA+
Federal Agency Securities and Instruments 13,695,845 18%AA+
Medium-Term Corporate Notes 14,048,285 18% AA+, AA, A+, A, A-
Local Agency Investment Fund 45,372,347 58%Not Rated
Investment in Pt. San Pedro Bonds 1,195,628 2%Not Rated
Total City Investments 79,505,610
San Rafael Sanitation District:
Marin County Investment Pool 42,815,664 AAA/V1
Total Investments $122,321,274
H. Concentration Risk
Investments in the securities of any individual issuers, other than U.S. Treasury securities, mutual
funds, and external investment pools, that represent 5% or more of the total entity–wide investments
are as follows at June 30, 2021:
Issuer Investment Type Amount
Federal National Mortgage Association Federal Agency Securities and Instruments $5,382,813
59
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 3 - INTER-FUND TRANSACTIONS
A. Transfers
Resources may be transferred from one City fund to another. Transfers routinely fund capital
projects or capital outlays, lease or debt service payments, and operating expenses.
Transfers between funds during the fiscal year ended June 30, 2021, were as follows:
From Fund To Fund Amount
General Fund Essential Facilities Capital Projects Fund $1,537,629 (A)
Non-Major Governmental Funds 2,508,443 (B)
Gas Tax Special Revenue Fund General Fund 646,000 (C)
Essential Facilities Capital Projects Fund General Fund 1,117,225 (D)
Parking Services Enterprise Fund General Fund 453,405 (D)
Non-Major Governmental Funds 85,000 (A)
Employee Retirement Internal Service Fund General Fund 682,062 (D)
Non-Major Governmental Funds General Fund 190,826 (C), (E)
Gas Tax Special Revenue Fund 30,000 (A)
Essential Facilities Capital Projects Fund 299,000 (F)
$7,549,590
(A) Transfers for Public Safety Center Projects.
(B) Transfers for administrative costs, grant matching, recreation, and other program support.
(C) Transfers for street maintenance support and administrative costs.
(D) Transfers for debt service.
(E) Transfers to close out debt service funds.
(F) Transfers for project support.
NOTE 4 - LOANS RECEIVABLE
A. Summary of Loans Receivable
The City has identified the portion of fund balance represented by these loans as nonspendable or
restricted as discussed in Note 8. As of June 30, 2021, these loans consisted of the following:
Employee Loans $961
Centertown Associates 269,476
One "H" Street Associates 34,288
Total $304,725
B. Employee Loans
The City administers a computer loan program that supports the use of technology by employees.
Employees are permitted to borrow up to $1,500 for the purchase of computer hardware and
software. The loans are interest-free, have maximum terms of one year, and are repaid through
automatic payroll deductions. As of June 30, 2021, the balance of the employee loans receivable
was $961.
60
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 4 - LOANS RECEIVABLE (Continued)
C. Centertown Associates Loan
On August 20, 1990, the former Redevelopment Agency loaned Centertown Associates, Ltd,
$303,000 at 3% interest due semiannually. The loan was made for the construction of a 60-unit
affordable Centertown apartment complex and is fully secured by a deed of trust. The final
payment is due on July 31, 2065. With the dissolution of the Redevelopment Agency effective
February 1, 2012, the assets of the Agency’s Low and Moderate Income Housing Fund, including
the Centertown Associates loan, were assumed by the City’s Low and Moderate Income Housing
Special Revenue Fund. As of June 30, 2021, the balance of the loan including principal and
accrued interest was $269,476.
D. One “H” Street Associates Loan
On January 18, 1994, the City loaned One “H” Street Associates $100,000 at zero percent interest
with annual payments of $2,857 and the final payment is due January 18, 2034. As of June 30,
2021, the balance of this loan was $34,288.
E. Other Receivables – Long-Term Receivable from San Rafael Sanitation District
The City provides staffing to San Rafael Sanitation District (District) under a contractual
arrangement originated in 1987 that requires the District to pay all related employee costs
incurred by the City on its behalf. Accordingly, the cost of providing pension and post-
employment health benefits incurred by the City for the District staff but not yet funded are
reflected by the District as an obligation, and by the City as a noncurrent receivable. The
obligation as of June 30, 2021, is $4,924,370, and is composed of the following:
Defined benefit pension liability allocation $3,778,048
Other post-employment benefit liability allocation 1,146,322
Total long-term receivable from San Rafael Sanitation District $4,924,370
61
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 5 - CAPITAL ASSETS
Changes in capital assets during the fiscal year consisted of:
Balance Balance
June 30, 2020 Additions Retirements Transfers June 30, 2021
Governmental Activities
Capital assets not being depreciated:
Land $83,662,359 $83,662,359
Construction in progress 62,961,226 $13,662,829 ($52,007,098) 24,616,957
Total capital assets not being depreciated 146,623,585 13,662,829 (52,007,098) 108,279,316
Capital assets being depreciated:
Land improvements 9,762,567 9,762,567
Buildings and structures 73,513,733 ($57,524) 45,708,933 119,165,142
Machinery and equipment 20,842,395 545,222 (241,658)21,145,959
Infrastructure 207,290,196 13,140 6,298,165 213,601,501
Total capital assets being depreciated 311,408,891 558,362 (299,182) 52,007,098 363,675,169
Less accumulated depreciation for:
Land improvements (6,872,805) (265,055)(7,137,860)
Buildings and structures (22,176,356) (1,987,389)(24,163,745)
Machinery and equipment (13,844,422) (1,132,227) 233,256 (14,743,393)
Infrastructure (141,626,308) (4,946,173)(146,572,481)
Total accumulated depreciation (184,519,891) (8,330,844) 233,256 (192,617,479)
Total net capital assets being depreciated 126,889,000 (7,772,482) (65,926) 52,007,098 171,057,690
Total governmental activity capital assets $273,512,585 $5,890,347 ($65,926)$279,337,006
Balance Balance
June 30, 2020 Additions Retirements June 30, 2021
Business-type Activities
Capital assets not being depreciated:
Land $8,620,853 $8,620,853
Total capital assets not being depreciated 8,620,853 8,620,853
Capital assets being depreciated:
Buildings and structures 10,713,814 10,713,814
Machinery and equipment 1,009,130 $30,986 ($99,952)940,164
T otal capital assets being depreciated 11,722,944 30,986 (99,952) 11,653,978
Less accumulated depreciation for:
Buildings and structures (3,716,047) (205,363)(3,921,410)
Machinery and equipment (896,307) (29,256)77,344 (848,219)
Total accumulated depreciation (4,612,354) (234,619)77,344 (4,769,629)
Total net capital assets being depreciated 7,110,590 (203,633) (22,608) 6,884,349
Total business-type activity capital assets $15,731,443 ($203,633) ($22,608) $15,505,202
62
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 5 - CAPITAL ASSETS (Continued)
Balance Balance
June 30, 2020 Additions June 30, 2021
San Rafael Sanitation District
Capital assets not being depreciated:
Land and easements $115,329 $115,329
Construction in progress 1,377,642 $2,659,595 4,037,237
Total capital assets not being depreciated 1,492,971 2,659,595 4,152,566
Capital assets being depreciated:
Subsurface lines 41,453,130 457,173 41,910,303
Sewage collection facilities 45,012,915 60,250 45,073,165
General plant and administration 2,230,686 135,253 2,365,939
Total capital assets being depreciated 88,696,731 652,676 89,349,407
Less accumulated depreciation for:
Subsurface lines (13,014,065) (523,983) (13,538,048)
Sewage collection facilities (22,268,128) (1,416,554) (23,684,682)
General plant and administration (1,429,249) (134,768) (1,564,017)
Total accumulated depreciation (36,711,442) (2,075,305) (38,786,747)
Total net capital assets being depreciated 51,985,289 (1,422,629) 50,562,660
Total District's capital assets $53,478,260 $1,236,966 $54,715,226
Capital Asset Contributions - Some capital assets may have been acquired using Federal and State
grant funds, or were contributed by developers or other governments. These contributions are
accounted for as revenues at the time the capital assets are contributed.
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 program are as
follows:
Governmental Activities
General government $106,279
Public safety 651,777
Public works and parks 5,461,028
Community development 37,711
Culture and recreation 735,268
Internal service funds 1,338,781
Total Governmental Activities $8,330,844
Business-type Activities
Parking services $234,619
Total Business-type Activities $234,619
63
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 6 - LONG TERM DEBT
The City generally incurs long-term debt to finance projects or purchase assets which will have
useful lives equal to or greater than the related debt.
A summary of governmental and business-type activities transactions for the fiscal year ended
June 30, 2021, are as follows:
Authorized Balance Balance Current
and Issued June 30, 2020 Retirements June 30, 2021 Portion
Governmental Activities Bonds:
2018 Authority Lease Revenue Bonds
4.00%-5.00%, due 6/1/2034 $45,485,000 $45,485,000 $1,910,000 $43,575,000 $2,070,000
Add: unamortized bond premium 7,111,209 507,944 6,603,265
2010 Taxable Pension Obligation Bonds
6.00%-6.25%, due 7/1/2025 4,490,000 3,320,000 475,000 2,845,000 505,000
Total Governmental Activities Bonds 55,916,209 2,892,944 53,023,265 2,575,000
Governmental Activities - Direct Borrowings:
PG & E City Hall HVAC Retrofit Note Payable
0.00%, due 11/30/2023 334,585 112,718 33,280 79,438 33,280
PG & E CEC Efficiency Note Payable
1.00%, due 12/22/2026 1,104,799 971,744 145,431 826,313 146,889
Total Governmental Activities - Direct Borrowings 1,084,462 178,711 905,751 180,169
Total Governmental Activities Debt $57,000,671 $3,071,655 $53,929,016 $2,755,169
Business-type Activities:
Direct Borrowing:
PG & E Parking Lot Lighting Retrofit Note Payable
0.00%, due 11/30/2023 $66,380 $20,939 $6,816 $14,123 $6,816
2012 Authority Lease Revenue Refunding Bonds
2.00-4.00%, due 4/1/2033 6,750,000 4,615,000 290,000 4,325,000 300,000
Less: unamortized bond discount (9,247) (725) (8,522)
Total Business-type Activities Bonds 4,605,753 289,275 4,316,478 300,000
Total Business-type Activities $4,626,692 $296,091 $4,330,601 $306,816
A. 2018 Authority Lease Revenue Bonds
On March 5, 2018, the Authority issued 2018 Authority Lease Revenue Bonds in the amount of
$45,485,000 bearing interest at rates from 4.00% to 5.00%. The proceeds of the bonds were
provided for replacement of two fire stations and construction of a public safety center. The
Authority has pledged revenue pursuant to a site and facility lease between the City and the
Authority for the public safety center. The lease rental payments are due semi-annually and are in
an amount sufficient to make payments on the Bonds. Interest on the Bonds is payable
semiannually on June 1 and December 1. Principal payable on the Bonds will be paid on June 1
starting on June 1, 2021. The Bonds maturing on or prior to June 1, 2028, are not subject to
optional redemption prior to their maturity. The Bonds maturing on or after June 1, 2029, are
subject to optional redemption as a whole or in part on any date after June 1, 2028, at the option
of the Authority, at a redemption price equal to the principal amount of the Bonds subject to
redemption, plus accrued interest to the date fixed for redemption, without premium.
64
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 6 - LONG-TERM DEBT (Continued)
The Bonds are payable from any source of available funds of the City. The bond covenants
contain events of default that require the revenue of the City to be applied by the Trustee as
specified in the terms of the agreement if any of the following conditions occur: default on debt
service payments; the failure of the City to observe or perform the conditions, covenants, or
agreement terms of the debt; bankruptcy filing by the City; or if any court or competent
jurisdiction shall assume custody or control of the City.
B. 2010 Taxable Pension Obligation Bonds
On July 1, 2010, the City issued 2010 Taxable Pension Obligation Bonds in the amount of
$4,490,000 bearing interest at rates from 6.00% to 6.25%. Principal payments are due annually on
July 1 and interest is payable semiannually on January 1 and July 1. The Bonds were issued to
prefund a portion of the obligations of the City to the Marin County Employees’ Retirement
Association. Payment of the principal and interest on the Bonds is not limited to any special
source of funds and is payable from any legally available moneys of the City. The City is not
empowered or obligated to levy or pledge taxes to make payments on the Bonds. The bond
covenants contain events of default that require the revenue of the City to be applied by the
Trustee as specified in the terms of the agreement if any of the following conditions occur:
default on debt service payments; the failure of the City to observe or perform the conditions,
covenants, or agreement terms of the debt; bankruptcy filing by the City; or if any court or
competent jurisdiction shall assume custody or control of the City.
C. Pacific Gas and Electric Notes Payable
PG&E HVAC and Lighting Retrofit
On September 30, 2013, the City executed a note payable agreement with Pacific Gas and
Electric (PG&E) in the amount of $634,861, which does not bear interest. The debt was assumed
as a means to finance energy-efficient retrofit projects which include updating the existing
heating, ventilation, and air conditioning (HVAC) unit in City Hall and converting the street and
parking lot lights to light emitting diode (LED). $334,585 of the loan is for the HVAC projects
and $300,276 of the loan is for the LED projects. Repayment of the loan commenced in
December 2013, and is due monthly until paid in full in 2023.
PG&E CEC Efficiency
On September 5, 2017, City Council approved the execution of a note payable agreement with
PG&E in an amount up to $1,178,813, bearing interest at 1%. The debt was assumed as a means
to finance the execution of various energy efficiency system upgrades to City facilities and street
lights. The upgrades included interior and exterior lighting upgrades and energy management
control systems. The City made the final draw on the loan and the final loan obligation was
$1,104,799. Payments commenced in December 2019, and are due semi-annually until paid in
full in December 2026.
65
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 6 - LONG-TERM DEBT (Continued)
D. 2012 Authority Lease Revenue Refunding Bonds
On August 7, 2012, the Authority issued 2012 Authority Lease Revenue Refunding Bonds in the
amount of $6,750,000 bearing interest at rates from 2.00% to 4.00%. The proceeds of the Series
2012 Bonds were used to repay the Authority’s 2003 Authority Lease Revenue Bonds that
financed the construction of the 3rd and C Street parking structure and achieved lower interest
rates and lower annual debt service payments. The refunding resulted in a net present value
savings to the City in debt service of $670,496. In addition, the requisition price exceeded the net
carrying amount of the old debt by $295,278. The Series 2012 Bonds are payable from lease
payments made by the City to the Authority for leasing the City facilities. The rights to these
lease payments have been irrevocably transferred by the Authority to the Trustee. Activities
related to the Series 2012 Bonds are reported in the Parking Services Enterprise Fund. Principal
payments are due annually on April 1 and interest is payable semiannually on October 1 and
April 1. The Bonds maturing on or prior to April 1, 2022, are not subject to optional redemption
prior to their maturity. The Bonds maturing on or after April 1, 2023, are subject to optional
redemption as a whole or in part on any date after April 1, 2022, at the option of the Authority, at
a redemption price equal to the principal amount of the Bonds subject to redemption, plus accrued
interest to the date fixed for redemption, without premium.
The Bonds are payable from any source of available funds of the City. The bond covenants contain
events of default that require the revenue of the City to be applied by the Trustee as specified in the
terms of the agreement if any of the following conditions occur: default on debt service payments;
the failure of the City to observe or perform the conditions, covenants, or agreement terms of the
debt; bankruptcy filing by the City; or if any court or competent jurisdiction shall assume custody or
control of the City.
66
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 6 - LONG-TERM DEBT (Continued)
E. Future Debt Service
Future debt service requirements, including interest, at June 30, 2021, are as follows:
Governmental Activities
For the Year Bonds Direct Borrowings
Ended June 30 Principal Interest Principal Interest
2022 $2,575,000 $2,320,081 $180,169 $7,898
2023 2,775,000 2,204,781 181,642 6,425
2024 3,000,000 2,058,406 162,714 4,951
2025 3,245,000 1,900,250 151,351 3,436
2026 3,510,000 1,729,256 152,868 1,919
2027 - 2031 18,160,000 6,148,250 77,007 386
2032 - 2034 13,155,000 1,282,000
Totals 46,420,000 $17,643,024 905,751 $25,015
Reconciliation of Long-term debt:
Add: unamortized premium 6,603,265
$53,023,265 $905,751
Business-type Activities
For the Year Bonds Direct Borrowing
Ended June 30 Principal Interest Principal
2022 $300,000 $152,588 $6,816
2023 310,000 143,588 6,816
2024 320,000 134,288 491
2025 330,000 124,288
2026 335,000 113,562
2027 - 2031 1,880,000 382,668
2032 - 2034 850,000 51,400
Totals 4,325,000 $1,102,382 14,123
Reconciliation of Long-term debt:
Less: unamortized discount (8,522)
$4,316,478 $14,123
67
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 7 - DEBT WITHOUT CITY COMMITMENT
A.Special Assessment Debt Without City Commitment
Special assessment districts have been established in various parts of the City to provide
improvements to properties located in those districts. Properties in these districts are assessed for
the cost of improvements; these assessments are payable solely by property owners over the term
of the debt issued to finance these improvements. The City is not legally or morally obligated to
pay these debts or be the purchaser of last resort of any foreclosed properties in these special
assessment districts, nor is it obligated to advance City funds to repay these debts in the event of
default by any of these districts. The City does act as an agent for the property owners and
bondholders and at June 30, 2021, the balances of these Districts’ outstanding debt were as
follows:
Project Original Outstanding
Description Amount June 30, 2021
Pt. San Pedro Road Median Landscaping Pt. San Pedro Road
Assessment District Limited Obligation Bonds-2012 Median Landscaping $1,750,000 $1,239,200
B.Conduit Debt
The City has assisted private-sector entities by sponsoring their issuance of debt for purposes the
City deems to be in the public interest. These debt issues are secured solely by the property
financed by the debt. The City is not legally or morally obligated to pay these debts or be the
purchaser of last resort of any foreclosed properties secured by these debts, nor is it obligated to
advance City funds to repay these debts in the event of default by any of these issuers. At June
30, 2021, the balance of this issuers’ outstanding debt was as follows:
Project Original Outstanding
Description Amount June 30, 2021
San Rafael Redevelopment Agency 162-175 Belvedere
Multifamily Housing Revenue Bonds-2000A Apartments $3,590,529 $899,501
California Statewide Communities
Development Authority Revenue Bonds-2001 St. Marks School 5,605,000 2,645,000
San Rafael Redevelopment Agency San Rafael Commons
Multifamily Housing Revenue Bonds-2002 Apartments 6,100,000 4,265,000
San Rafael Redevelopment Agency
Multifamily Housing Revenue Bonds-2007 Series A Martinelli House Project 6,000,000 1,736,147
Multifamily Housing Revenue Bonds-2007 Series B Martinelli House 1,000,000 141,151
Total $22,295,529 $9,686,799
NOTE 8 - NET POSITION AND FUND BALANCE
A. Net Position
Net Position is the excess of all the City’s assets and deferred outflows of resources over all its
liabilities and deferred inflows of resources, regardless of fund. Net Position is divided into three
captions. These captions apply only to Net Position, which is determined only at the Government-
wide level and business type activity and are described below:
68
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 8 - NET POSITION AND FUND BALANCE (Continued)
Net Investment in Capital Assets describes the portion of Net Position which is represented by the
current net book value of the City’s capital assets, less the outstanding balance of any debt issued
to finance these assets.
Restricted describes the portion of Net Position which is restricted to use by the terms and
conditions of agreements with outside parties, governmental regulations, laws, or other
restrictions which the City cannot unilaterally alter.
Unrestricted describes the portion of Net Position which is not restricted to use.
B. Fund Balance
In the fund financial statements, 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 in accordance with generally accepted accounting principles, which
require the City to classify its fund balances 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 that do not represent available, spendable resources
even though they are a component of assets. Fund balances required to be maintained intact, such
as Permanent Funds, and assets not expected to be converted to cash, such as prepaids, loans
receivable, and land held for redevelopment are included. However, if proceeds realized from the
sale or collection of nonspendable assets are restricted, committed or assigned, then
Nonspendable amounts are required to be presented as a component of the applicable category.
Restricted 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 resolution of the City Council. Nonspendable amounts subject to Council
commitments are included along with spendable resources.
Assigned fund balances are amounts constrained by the City’s intent that they be used for a
specific purpose, but are neither restricted nor committed. Intent is expressed by the City
Manager, as designated by the City Council, and may be changed at the discretion of the City
Council or City Manager. This authorization is given through Resolution No. 13173 which
adopted the City’s Fund Balance Policy. This category includes nonspendables, 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.
69
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 8 - 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.
Detailed classifications of the City’s fund balances, as of June 30, 2021, are below:
Capital Project
Funds
General Fund
Traffic and
Housing
Mitigation Gas Tax
Essential Facilities
Capital Projects
Fund
Other
Governmental
Funds Total
Fund balances:
Nonspendable:
Prepaids $377,861 $377,861
Total Nonspendable 377,861 377,861
Restricted for:
Assessment District capital projects $305,090 305,090
Baypoint Lagoons Assessment District 190,369 190,369
Bedroom tax capital projects 103,275 103,275
Childcare 368,580 368,580
Development services 300,100 300,100
Emergency medical services 845,028 845,028
Street improvements and Maintenance (Gas Tax) $4,344,854 4,344,854
Grant funded programs 755,323 755,323
Household hazmat facility 443,289 443,289
Library 2,477,814 2,477,814
Library assessment 1,011,963 1,011,963
Loch Lomond Assessment District 761,291 761,291
Loch Lomond Assessment District #2 510,358 510,358
Low and Moderate Income Housing 1,223,192 1,223,192
Measure A - Open space 598,505 598,505
Measure C - Wildlife Prevention 418,949 418,949
Measure E - Public Safety Facility $12,097,390 12,097,390
Measure G - Cannabis 562,598 562,598
Parkland dedication 332,473 332,473
Public safety 129,544 129,544
Pt. San Pedro- Maintenance Portion 122,899 122,899
Recreation revolving 413,693 413,693
Stormwater 1,168,865 1,168,865
Traffic and housing mitigation $6,558,073 6,558,073
Total Restricted 6,558,073 4,344,854 12,097,390 13,043,198 36,043,515
Committed to:
Capital improvement capital projects 1,816,227 1,816,227
Emergency and cash flow 8,321,000 8,321,000
Park capital projects 14,809 14,809
Total Committed 8,321,000 1,831,036 10,152,036
Assigned to:
Contractual commitments 4,907,644 4,907,644
Furlough paybacks 533,374 533,374
Infrastructure Reserve 600,000 600,000
General plan / long range planning 1,185,135 1,185,135
Open space capital projects 116,842 116,842
Total Assigned 7,226,153 116,842 7,342,995
Unassigned 920,885 920,885
Total Fund Balances $16,845,899 $6,558,073 $4,344,854 $12,097,390 $14,991,076 $54,837,292
Special Revenue Funds
70
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 8 - NET POSITION AND FUND BALANCE (Continued)
C. Minimum Fund Balance Policy
The City Council adopted a General Fund Reserve Policy in November 2014 to establish target
reserve levels and the methodology for calculating reserve levels. The Policy also establishes
criteria for the use of reserves and a process to replenish reserves.
The Policy requires the City to strive to maintain the following fund balances:
1) Emergency and Cash Flow Reserve (10% minimum)
An emergency and cash flow reserve will be maintained for the purposes of (1) sustaining
General Fund operations in the case of a public emergency, such as a natural disaster or other
unforeseen catastrophic event; and (2) to cover sudden operating shortfalls caused by (a) a
severe drop in revenues that cannot be sufficiently offset by a corresponding reduction in
expenditures and/or other available resources, or (b) an unforeseen, unavoidable expenditure
that must be paid from the General Fund.
This reserve level is measured as a percentage of annual operating expenditures. Budgeted
operating expenditures are to be used for the purposes of budget allocations and projections,
and actual operating expenditures are to be used for the purpose of measuring this reserve at
fiscal year-end. This reserve may be expended only when the City Council determines by
resolution that such action is consistent with the purpose and intent of this policy.
In the event the balance in the Emergency and Cashflow Reserve falls below the minimum
level, the City Manager, shall recommend a plan to replenish the fund within a timeframe not
to exceed three years. This recommendation shall be approved by the City Council no later
than the time at which the next annual budget is adopted. Any variance from the stipulations
established within this policy shall require approval by the City Council along with a
statement of findings supporting the temporary or ongoing modification to this policy.
The required reserve was $8,321,000 at June 30, 2021, and the balance of the reserve,
included in the General Fund’s committed fund balance was $8,321,000 at that date. The
balance of the reserve previously was less than the requirement because City Council
approved the one-time use of up to $721,542 of the reserve to offset the revenue strain caused
by COVID-19 of which $242,248 of the reserve was used during the year ended June 30,
2020. The balance of the reserve was replenished in full by June 30, 2021.
2) Other Facilities and Infrastructure
The purpose of the assigned infrastructure reserve is to accumulate funds to be used for the
purpose of non-public safety facility construction and major improvements (e.g., library,
administrative and non-safety buildings, streets, and the stormwater system). This was
$600,000 at June 30, 2021.
The General Plan/Long Range Planning reserve included in the General Fund’s assigned fund
balance was $1,185,135 at June 30, 2021 which is specifically assigned to the City’s General
Plan, a state required plan that must address eight topic areas – Neighborhoods, Community
Design, Economic Vitality, Infrastructure, Governance, Culture and Arts, Parks and
Recreation and Air and Water Quality.
71
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 9 - PENSION PLAN
A. Plan Description
The City’s defined benefit retirement plan is administered by the Marin County Employees’
Retirement Association (MCERA), a retirement system established in July 1950 and governed by
the California Constitution; the County Employees Retirement Law of 1937 (CERL or 1937 Act,
California government Code Section 31450 et seq.); the Public Employees’ Pension Reform Act
of 2013 (PEPRA, Government Code Section 7522); the provisions of California Government
Code Section 7500 et seq; and the bylaws, procedures, and policies adopted by MCERA’s Board
of Retirement. The Marin County Board of Supervisors may also adopt resolutions, as permitted
by the CERL and PEPRA, which may affect the benefits of MCERA members.
MCERA operates as a cost-sharing multiple employer defined benefit plan for the City and eight
other participating employers: County of Marin, Local Agency Formation Commission
(LAFCO), Marin City Community Services District, Marin County Superior Court,
Marin/Sonoma Mosquito and Vector Control District, Novato Fire Protection District, Southern
Marin Fire Protection District and Tamalpais Community Services District. Separate actuarial
valuations are performed for these other agencies and districts, and the responsibility for funding
their plans rest with those entities. Post-retirement benefits are administered by MCERA to
qualified retirees.
Copies of MCERA’s annual financial reports, which include required supplementary information
(RSI) for the plan may be obtained from their office at One McInnis Parkway, Suite 100, San
Rafael, CA 94903 or online at www.mcera.org.
B. Benefit Provisions
Service Retirement: MCERA’s service retirement benefits are based on the years of credited
service, final average compensation, and age at retirement, according to the applicable statutory
formula. Members who qualify for service retirement are entitled to receive monthly retirement
benefits for life.
General members hired prior to January 1, 2013 are eligible to retire once they attain the age of
50 (except Misc Tier 2, whereby the minimum age is 55) and have acquired 10 or more years of
retirement service credit. A member with 30 years of service is eligible to retire regardless of age.
A member who is age 70 or older is eligible to retire regardless of service credit. General
members who are first hired on or after January 1, 2013 are eligible to retire once they have
attained the age of 52, and have acquired 5 years of retirement service credit, or age 70,
regardless of service.
Safety members hired prior to January 1, 2013 are eligible to retire once they attain the age of 50
and have acquired 10 or more years of retirement service credit. A member with 20 years of
service is eligible to retire regardless of age. A member who is age 70 or older is eligible to retire
regardless of service. Safety members who are first hired on or after January 1, 2013 are eligible
to retire once they have attained the age of 50, and have acquired 5 years of retirement service
credit, or age 70, regardless of service.
72
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 9 - PENSION PLAN (Continued)
Disability Retirement: A member with five years of service, regardless of age, who becomes
permanently incapacitated for the performance of duty is eligible to apply for a non-service
connected disability retirement. Any member who becomes permanently incapacitated for the
performance of duty as a result of injury or disease arising out of and in the course of
employment is eligible to apply for a service-connected disability retirement, regardless of
service length or age.
Death Benefits: MCERA provides specified death benefits to beneficiaries and members’
survivors. The death benefits provided depend on whether the member is active or retired. The
basic active member death benefit consists of a members’ retirement contributions plus interest
plus one month’s pay for each full year of service (up to a maximum of six month’s pay).
Retiring members may choose from five retirement benefit payment options. Most retirees elect
to receive the unmodified allowance which provides the maximum benefit to the retiree and
continuance of 60% of the retiree’s allowance to the surviving spouse or registered domestic
partner after the retiree’s death. Other death benefits may be available based on the years of
service, marital status, and whether the member has minor children.
Cost of Living Adjustment: Retirement allowances are indexed for inflation. Most retirees receive
automatic basic cost of living adjustments (COLA’s) based upon the Urban Consumer Price
Index (UCPI) for the San Francisco Bay Area. These adjustments go into effect on April 1 of
each year. Annual COLA increases are statutorily capped at 2%, 3%, or 4% depending upon the
member’s retirement tier. When the UCPI exceeds the maximum statutory COLA for the
member’s tier, the difference is accumulated for use in future years when the UCPI is less than
the maximum statutory COLA. The accumulated percentage carryover is known as the COLA
Bank.
C. Funding Policy
The funding policy of MCERA provides for actuarially determined periodic contributions by the
City at rates such that sufficient assets will be available to pay plan benefits when due. The
employer rates for normal cost are determined using the Entry Age Normal Actuarial Cost
Method, which takes into account those benefits that are expected to be earned in the future as
well as those already accrued.
The City contribution rates for the year ended June 30, 2021 were as follows:
Employer Employee
Contribution Rate Contribution Rate Benefit Basis
City of San Rafael Misc Tier 1 54.12%0.00% - 16.13% 2.7% @ 55 Highest year
City of San Rafael Misc Tier 2 52.17%7.34% - 11.76% 2.0% @ 55 Average three highest years
City of San Rafael Fire Tier 1 74.24%0.00% - 19.59% 3.0% @ 55 Highest year
City of San Rafael Fire Tier 2 72.96%11.40% - 17.36% 3.0% @ 55 Average three highest years
City of San Rafael Safety Police Tier 1 73.88%0.00% - 19.59% 3.0% @ 55 Highest year
City of San Rafael Safety Police Tier 2 74.95%11.40% - 17.36% 3.0% @ 55 Average three highest years
PEPRA Misc 46.24%9.22%2.0% @ 62 Average three highest years
PEPRA Safety 63.28%14.40%2.7% @ 57 Average three highest years
73
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 9 - PENSION PLAN (Continued)
These rates were determined by MCERA, based on the actuarial valuation dated June 30, 2019.
The actual rate of return on investments during that year was 5.51% on a market value basis net
of investment expenses, as compared to the prior year’s 7% assumption.
The City uses the actuarially determined percentages of payroll to calculate and pay contributions
to MCERA. Contributions to the plan from the City were $20,106,821 for the year ended June 30,
2021, based on a total payroll of $42,784,955, of which $31,697,590 represented the basis for the
plan contributions. Of the total payroll subject to plan contributions, $1,384,284 is attributable to
the San Rafael Sanitation District (SRSD), a component unit of the City.
Effective with the June 30, 2013 valuation, the Unfunded Actuarial Liability (UAL) as of June
30, 2013 is being amortized over a closed 17-year period (11 years remaining as of June 30,
2019), except for the additional UAL attributable to the outstanding unfunded actuarial loss from
2009, which is being amortized over a separate closed period (currently 19 years).
Effective with the June 30, 2014 valuation, any new sources of UAL due to actuarial gains and
losses or method changes are amortized over a closed 24-year period, with a 5-year ramp up
period at the beginning of the period, a 4-year ramp down at the end of the period, and 15 years of
level payments as a percentage of payroll between the ramping periods. This amortization method
for gains and losses is similar to a 20-year amortization period with level payments as a
percentage of payroll, in conjunction with a traditional 5-year asset smoothing.
Assumption changes are amortized over a closed 22-year period, with a 3-year ramp up period, 2-
year ramp down period, and 17 years of level payments as a percentage of payroll.
D. Pension Liability and Pension Expense
The City’s net pension liability (NPL) has been determined for the financial reporting period
ended June 30, 2021 based on the following methodology: The City’s NPL as of June 30, 2019
was updated to the measurement date of June 30, 2020 using the actual City’s plan assets as of
June 30, 2020 and estimating the change in the City’s liabilities between July 1, 2019 and June
30, 2020. This estimate is based on a projection of the City’s long-term contributions to the
pension plan relative to the projected contributions of all participating employers.
The resulting NPL for the City under this calculation is $157,279,576, or 34.3574% of the total
MCERA NPL of $457,774,963 (reference MCERA’s GASB 67/68 report as of June 30, 2020).
This compares to the previous year’s NPL of $133,877,531, or 36.6081% of the total MCERA
NPL of $365,704,670 (reference MCERA’s GASB 67/68 report as of June 30, 2019).
74
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 9 - PENSION PLAN (Continued)
In addition to the reporting of the NPL as of June 30, 2021, the City reported deferred inflows of
$17,358,743 and deferred outflows of $34,080,980 as of the measurement date June 30, 2020.
The City reported post-measurement date outflows of $20,106,821 from actual fiscal year 2020-
2021 pension contributions. Deferred outflows include deferred investment gains and adjustments
to assumptions based on actual positive results. Deferred outflows have a positive impact on net
assets (offsetting the NPL) and will be recognized in future reporting periods. Deferred inflows
include deferred investment losses, adjustments to assumptions based on actual negative results,
and contributions made after the measurement date. Deferred inflows have a negative impact on
net assets (similar to the NPL) and will be recognized in future reporting periods. The net impact
of these pension liability related entries on the City’s Statement of Net Position before allocations
to the San Rafael Sanitation District was $120,450,518. After allocations to the San Rafael
Sanitation District, the net impact on the City’s Statement of Net Position was $116,672,470.
Under generally accepted accounting principles, the City’s pension expense is based on the Plan’s
pension expense, adjusted for the City’s actual contributions and net pension liability.
Three components are used to calculate pension expense: (1) changes in the net pension liability;
(2) changes in benefit terms (if any): and (3) changes in actuarial assumptions and experience.
Pension expense is calculated using a different methodology than that used to derive the
actuarially determined annual contribution to the Plan. Actual pension contributions during the
reporting year were $20,106,821. Because pension expense is affected by annual changes in the
net pension liability, volatility is to be expected. For the current measurement period, investment
returns above the assumed rate were responsible for the decrease in net pension liability and had a
corresponding impact on pension expense.
The table below provides a summary of the key results during the reporting period:
Measurement Date Measurement Date
Description 6/30/2020 6/30/2019
Net Pension Liability $157,279,576 $133,877,531
Deferred Inflows 17,358,743 22,558,119
Deferred Outflows (34,080,980) (21,856,007)
Impact on Net Position before Deferred Outflows from Contributions 140,557,339 134,579,643
Additional Deferred Outflows - Contributions Subsequent to Measurement Date (20,106,821) (20,031,614)
Impact on Statement of Net Position before Allocations 120,450,518 114,548,029
Allocation of NPL to SRSD 5,026,185 4,354,685
Allocation of Deferred Inflows (measurement date) to SRSD 554,734 733,756
Allocation of Deferred Outflows (measurement date) to SRSD (1,089,126) (710,919)
Impact on Net Position before Allocation of Deferred Outflows
from Contributions to SRSD 4,491,793 4,377,522
Allocation of Additional Deferred Outflows (Contributions) to SRSD (713,745) (655,534)
Long-Term Receivable from SRSD, due to pension obligations (see Note 4E)3,778,048 3,721,988
Impact on Statement of Net Position, net of receivable from SRSD $116,672,470 $110,826,041
Pension Expense $25,009,310 $22,533,040
Summary of Results
75
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 9 - PENSION PLAN (Continued)
Projection of Total Pension Liability and Net Pension Liability
Total Pension Liability (TPL) is the actuarial present value of projected benefit payments
attributed to past periods of employee service. MCERA and the City have adopted a measurement
date of June 30, 2020. The beginning of year measurement of TPL is based on the actuarial
valuation as of June 30, 2019. The TPL at the end of the measurement year, June 30, 2020, is also
measured as of the valuation date of June 30, 2019 and projected to June 30, 2020.
The Plan Fiduciary Net Position (FNP) is the fair or market value of assets. The FNP at the
beginning of the year is based on the actuarial valuation as of June 30, 2019. The FNP at the end
of the measurement year, June 30, 2020, is also measured as of the valuation date of
June 30, 2019, and projected to June 30, 2020.
The Net Pension Liability (NPL) is the City’s liability for benefits provided through its defined
benefit plan administered by MCERA. It is calculated by reducing the TPL by the FNP. The long-
term portion of the governmental activities’ NPL is liquidated primarily by the General Fund.
Actuarial assumptions:
The total pension liability as of June 30, 2020 (measurement date) was determined by an actuarial
valuation as of June 30, 2019, using the following actuarial assumptions applied to all prior periods
included in the measurement. The key assumptions in the valuation were:
Expected Return on Assets 7.00% per year, net of investment expenses
Discount Rate 7.00% per year
Price Inflation 2.75% per year
Salary Increases 3.00% per year plus merit component based on employee classification
and years of service.
Administrative Expenses Administrative expenses in the actuarial valuation are assumed to be
$5.2 million for FY 2019-20, to be split between employees and
employers based on their share of the overall contributions.
Administrative expenses shown in this report are based on the actual
FY 2019-20 amounts.
Post-Retirement COLA Post-retirement COLAs are assumed at a rate of 2.7% for members
with a 4% COLA cap, 2.6% for members with a 3% COLA cap, and
1.9% for members with a 2% COLA cap.
Mortality Rates for Rates of mortality for active members are specified by CalPERS 2017
Healthy Members Pre-Retirement Non-Industrial Death Rates (plus Duty-Related Death
and Inactives rates for Safety members), with the 15-year static projection used by
CalPERS replaced by generational improvements from a base year of
2014 using Scale MP-2017.
Mortality Rates for Rates of mortality among disabled members are given by CalPERS 2017
Retired Disabled Disability Mortality rates (Non-Industrial rates for Miscellaneous members
Members and Industrial Disability rates for Safety members), adjusted by 90% for
Males (Miscellaneous and Safety) and 90% for Miscellaneous Females,
with the 15-year static projection used by CalPERS replaced by
generational improvements from a base year of 2014 using Scale MP-2017.
76
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 9 - PENSION PLAN (Continued)
Asset Allocation Policy and Expected Long-Term Rate of Return by Asset Class
The Board of Retirement has adopted an Investment Policy Statement (IPS), which provides the
framework for the management of MCERA’s investments. The IPS establishes MCERA’s
investment objectives and defines the principal duties of the Retirement Board, the custodian bank,
and the investment managers. The asset allocation plan is an integral part of the IPS and is designed
to provide an optimum and diversified mix of asset classes with return expectations to satisfy
expected liabilities while minimizing risk exposure. MCERA currently employs external investment
managers to manage its assets subject to the provisions of the policy. Plan assets are managed on a
total return basis with a long term objective of achieving and maintaining a fully funded status for
the benefits provided through the Plan. The following was the Retirement Board’s adopted asset
allocation policy as of June 30, 2020:
Long-Term
Expected Rate
Target Long-Term Expected of Return
Asset Class Allocation Real Rate of Return (with the effect of inflation)
Domestic Equity 32% 4.90% 7.65%
International Equity 22% 5.00% 7.75%
Fixed Income 23% 0.50% 3.25%
Public Real Assets 7% 3.20% 5.95%
Real Estate 8% 4.00% 6.75%
Private Equity 8% 6.25% 9.00%
Total 100%
The Long-Term returns are calculated using a 10-year geometric return derived from arithmetic
returns and the associated risk (standard deviation).
Determination of Discount Rate
The discount rate used to measure the Total Pension Liability was 7.00%. Related to the discount
rate is the funding assumption that employees will continue to contribute to the plan at the required
rates and employers will continue the historical and legally required practice of contributing to the
plan based on an actuarially determined contribution, reflecting a payment equal to annual normal
cost, a portion of the expected administrative expenses, an amortization payment for the
extraordinary losses from 2009 amortized over a closed period (19 years remaining as of the June
30, 2019 actuarial valuation), and an amount necessary to amortize the remaining Unfunded
Actuarial Liability as a level percentage of payroll over a closed period (11 years remaining as of
the June 30, 2019 actuarial valuation).
A change in the discount rate would affect the measurement of the TPL. A lower discount rate
results in a higher TPL and higher discount rates results in a lower TPL. Because the discount rate
does not affect the measurement of assets, the percentage change in the NPL can be significant for a
relatively small change in the discount rate. A one percent decrease in the discount rate increases
the TPL by approximately 13% and increases the NPL by approximately 87%. A one percent
increase in the discount rate decreases the TPL by approximately 11% and decreases the NPL by
approximately 72%.
77
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 9 - PENSION PLAN (Continued)
The table below shows the sensitivity of the NPL to a one percent decrease and a one percent
increase in the discount rate:
1%Discount 1%
Decrease Rate Increase
Description 6.00%7.00%8.00%
Total Pension Liability $1,196,531,719 $1,059,269,505 $946,197,520
Fiduciary Net Position 901,989,929 901,989,929 901,989,929
Net Pension Liability $294,541,790 $157,279,576 $44,207,591
75.4%85.2%95.3%Fiduciary Net Position as a Percentage of the Total Pension Liability
Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Pension
Resources
The impact of experience gains or losses and assumption changes on the Total Pension Liability
(TPL) are recognized in the proportionate share of the pension expense over the average expected
remaining service life of all active and inactive members of the plan. As of the measurement date,
this recognition period was 4 years.
The following tables show the current balance and sources of deferred outflows and inflows related
to the City’s defined benefit retirement plan, and the scheduled recognition of these deferred
amounts:
Deferred Deferred
Outflows of Inflows of
Description Resources Resources
Differences between expected and actual experience $6,897,756 $293,135
Changes in assumptions 3,504,598
Change in proportion 6,296,927 6,062,250
Difference between City contributions and proportionate
share of contributions 11,003,358
Actual FY 20-21 contributions (post measurement date)20,106,821
Net difference between projected and actual earnings
on pension plan investments 17,381,699
Deferred Inflows and Outflows Before Allocations $54,187,801 $17,358,743
Allocation of Deferred Inflows and Outflows to SRSD
As of measurement date $1,089,126 $554,734
Post-measurement date 713,745
Net Deferred Inflows and Outflows $52,384,930 $16,804,009
78
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 9 - PENSION PLAN (Continued)
The $20,106,821 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, 2022. Other amounts reported as deferred outflows of resources and deferred inflows of
resources related to pensions will be recognized as pension expense as follows:
Amortization
Year ended June 30 Amount
2022 ($64,672)
2023 4,255,724
2024 6,329,346
2025 6,201,839
Total $16,722,237
NOTE 10 - PUBLIC AGENCY RETIREMENT SYSTEM (DEFINED CONTRIBUTION
RETIREMENT PLAN)
The City contributes to the Public Agency Retirement System (PARS), which administers a defined
contribution retirement plan. A defined contribution retirement plan provides retirement benefits in
return for services rendered, provides an individual account for each participant, and specifies how
contributions to the individual’s accounts are determined instead of specifying the amount of
benefits the individual is to receive. The benefits a participant will receive depend on the amount
contributed to the participant’s account, and the returns earned on investments on those
contributions. The Plan’s trust administrator is Phase II, P.O. Box 12919, Newport Beach,
California 92658.
As established by the plan, all eligible part-time and temporary employees of the City become
participants in the plan from the date that they are hired. An eligible employee is any employee
who, at any time during which the employer maintains this plan, is not accruing a benefit under the
Marin County Employees’ Retirement Fund.
As determined by the plan, each employee must contribute 3.75% of gross earnings to the plan. The
City contributes an additional 3.75% of the employee’s gross earnings. Contributions made by an
employee and the employer vest immediately.
During the year, the City, and employees each contributed $101,631. The total covered payroll of
employees participating in the plan for the year ended June 30, 2021, was $2,710,163.
79
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 11 - POST-EMPLOYMENT HEALTH CARE BENEFITS
Plan Description
The City provides certain health care benefits for retired employees and their spouses under an
Agent Multiple-Employer Defined Benefit Plan. The benefit provisions were established under the
authority of the 1937 Act, Section 31450, et. seq. of the Government Code. Employees who meet
the vesting criteria become eligible for these benefits if they receive a retirement benefit from the
Marin County Employees’ Retirement Association within 120 days of retirement from City
employment.
The provisions and benefits of the City’s Other Post Employment Benefit Plan, in effect at June 30,
2021, are summarized as follows:
Elected Officials, Mid-Management, & Unrepresented
Management All other Bargaining Units
Eligibility
- Age 50 (age 55 if hired > 7/1/11) with 10 years services (Including reciprocity)
OR
-
-Age 70
- Disability Retirement
Benefit Hired < 1/1/09 Full premium/cap Hired < 1/1/10 Up to cap
Hired ≥ 1/1/09 PEMHCA Min Hired ≥ 1/1/10 PEMHCA Min
Surviving Spouse Benefit Continuation to surviving spouse
Medicare Part B Hired < 4/1/07 Full reimbursement None
Hired ≥ 4/1/07 None
Other No Dental, Vision, or Life Benefits
Retire directly from the City:
30 years service (Miscellaneous), 20 years service (Safety) OR
Membership in the plan consisted of the following at June 30, 2020, the measurement date:
Active plan members 346
Inactive employees or beneficiaries currently
receiving benefit payments 354
Inactive employees entitled to but not yet
receiving benefit payments 76
Total 776
Funding Policy and Actuarial Assumptions
The City’s net OPEB liability was measured using a Total OPEB Liability and Fiduciary Net
Position measured as of June 30, 2020, using an actuarial valuation as of June 30, 2019 rolled
forward to June 30, 2020 using standard update procedures. The following actuarial assumptions
were used in the valuation: (a) 6.75% investment rate of return and (b) 2.75% of general inflation
increase, and (c) a healthcare trend of declining annual increases ranging from 7.25% in 2021 to 4%
for the years starting 2076. In addition, the fixed dollar benefit amounts are assumed to be held flat
in the future and the premium related benefits are assumed to increase with the healthcare trend rate.
80
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 11 - POST-EMPLOYMENT HEALTH CARE BENEFITS (Continued)
The actuarial assumptions used in the June 30, 2019 valuation were based on the results of an
actuarial experience study for the period July 1, 2018 through June 30, 2019.
The long-term expected rate of return on OPEB 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 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 weighing 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 following table:
Long-Term
Expected
Long-Term Rate of Return
Target Expected (with the effect
Asset Class Allocation Real Rate of Return of inflation)
Global Equity 59% 4.82% 7.57%
Fixed Income 25% 1.47% 4.22%
TIPS 5% 1.29% 4.04%
Commodities 3% 0.84% 3.59%
REITs 8% 3.76% 6.51%
Total 100%
Assumed Long-Term Rate of Inflation 2.75%
Assumed Long-Term Investment Expenses n/a
Expected Long-Term Net Rate of Return 6.75%
Discount Rate 6.75%
The Expected Long-Term Rate of Return is provided by CalPERS’ Strategic Asset Allocation
Overview in October 2018 – Strategy 1.
Discount Rate
The discount rate used to measure the total OPEB liability was 6.75%. 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 these assumptions, the OPEB plan's
fiduciary net position was projected to be sufficient to make projected benefit payments and the
plan assets are expected to be invested using the strategy to achieve the expected return.
81
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 11 - POST-EMPLOYMENT HEALTH CARE BENEFITS (Continued)
Change in Net OPEB Liability
Total OPEB Plan Fiduciary Net Net OPEB
Liability Position Liability/(Asset)
(a) (b) (c) = (a) - (b)
Balance at June 30, 2020 (6/30/19 measurement date) $48,283,000 $21,676,000 $26,607,000
Changes Recognized for the Measurement Period:
Service Cost 687,000 687,000
Interest on the total OPEB liability 3,196,000 3,196,000
Contributions from the employer 3,784,000 (3,784,000)
Net investment income 770,000 (770,000)
Administrative expenses (19,000) 19,000
Benefit payments and refunds (3,225,000) (3,225,000)
Net Changes during July 1, 2020 to June 30, 2021 658,000 1,310,000 (652,000)
Balance at June 30, 2021 (6/30/20 measurement date) $48,941,000 $22,986,000 $25,955,000
Increase (Decrease)
The benefit payments and refunds include implied subsidy benefit payments in the amount of
$740,000.
Sensitivity of the net OPEB liability to changes in the discount rate
The following presents the net OPEB liability of the City, as well as what the City's net OPEB
liability would be if it were calculated using a discount rate that is 1-percentage-point lower
(5.75 percent) or 1-percentage-point higher (7.75 percent) than the current discount rate:
Discount Rate -1% Current Discount Discount Rate +1%
(5.75%)Rate (6.75%)(7.75%)
$31,318,000 $25,955,000 $21,428,000
Plan's Net OPEB Liability/(Asset)
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, as well as what the City’s net OPEB
liability would be if it were calculated using healthcare trend rates that are 1-percentage-point
lower or 1-percentage-point higher than the current rates.
Healthcare Cost
Trend Rate -1% Trend Rates Trend Rate +1%
$22,700,000 $25,955,000 $29,925,000
Plan's Net OPEB Liability/(Asset)
82
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 11 - POST-EMPLOYMENT HEALTH CARE BENEFITS (Continued)
Detailed information about the OPEB plan’s fiduciary net position is available in the separately
issued plan financial report. That report may be obtained from the California Public Employees’
Retirement System, CERBT, P.O. Box 942703, Sacramento, CA, 94229.
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources
related to OPEB
Components of OPEB Expense for fiscal year 2020-2021 were as follows:
Service Cost $687,000
Interest on Total OPEB Liability 3,196,000
Projected earning on investments (1,463,000)
Administrative expense 19,000
Recognition of deferred outflows/inflows:
Experience (1,232,000)
Assumptions 361,000
Asset Returns 210,000
OPEB Expense $1,778,000
Components of deferred outflows of resources and deferred inflows of resources related to OPEB at
June 30, 2021 were as follows:
Governmental Business-Type
Activities Activities Total
Deferred outflows of resources:
Changes of assumptions $1,462,724 $36,003 $1,498,727
Net difference between projected and
actual earnings on plan investments 421,526 10,164 431,690
Employer contributions made subsequent
to the measurement date 3,242,583 80,000 3,322,583
Total deferred outflows of resources $5,126,833 $126,167 $5,253,000
Deferred inflows of resources:
Differences between expected and actual
experience $3,188,859 $78,141 $3,267,000
Changes of assumptions 1,747,658 43,342 1,791,000
Total deferred inflows of resources $4,936,517 $121,483 $5,058,000
The difference between projected OPEB plan investment earnings and actual earnings is amortized
over a five-year period. The remaining gains and losses are amortized over the expected average
remaining service life.
83
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 11 - POST-EMPLOYMENT HEALTH CARE BENEFITS (Continued)
$3,322,583 reported as deferred outflows of resources related to contributions subsequent to the
measurement date will be recognized as a reduction of the OPEB liability in the year ended June 30,
2022. Other amounts reported as deferred outflows of resources and deferred inflows of resources
related to OPEB will be recognized as future OPEB expense as follows:
Measurement Period Amortized
Ended June 30 Amount
2022 ($857,000)
2023 (778,000)
2024 (835,000)
2025 (657,583)
($3,127,583)
The table below provides a summary of the key results during this reporting period.
Measurement Date Measurement Date
Description June 30, 2020 June 30, 2019
Net OPEB Liability $25,955,000 $26,607,000
Deferred Inflows 5,058,000 6,814,000
Deferred Outflows (1,930,417) (2,332,000)
Impact on Net Position before deferred contributions 29,082,583 31,089,000
Additional Deferred Outflows - Contributions subsequent to measurement date (3,322,583) (3,784,000)
Impact on Statement of Net Position before Allocations 25,760,000 27,305,000
Allocation of NOL to SRSD 1,155,000 1,184,000
Allocation of Deferred Inflows (measurement date) to SRSD 225,081 303,220
Allocation of Deferred Outflows (measurement date) to SRSD (85,885) (103,773)
Impact on Net Position before deferred contributions to SRSD 1,294,196 1,383,447
Allocation of Additional Deferred Outflows (contributions) to SRSD (147,874) (168,386)
Long-Term Receivable from SRSD, due to OPEB obligations (see Note 4E)1,146,322 1,215,061
Impact on Statement of Net Positions, net of receivable from SRSD $24,613,678 $26,089,939
OPEB Expense $1,778,000 $2,194,000
Covered Employee Payroll $39,920,000 $40,496,000
Summary of Results
84
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 12 - JOINTLY GOVERNED ORGANIZATIONS
The City participates in the jointly governed organizations discussed below through formally
organized and 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 organization is governed by a board consisting of representatives from member
municipalities. Each board controls the operations of the respective joint organization, 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 this
joint organization are not the City’s responsibility and the City does not have an equity interest in
the assets of each joint organization except upon dissolution of the joint organization.
A. The Marin County Integrated On-Line Library System (System)
The MARINet Library Consortium was formed to provide for the procurement, ownership,
operation, maintenance, and governance of shared library services among the libraries, public and
academic, in Marin County. Current services shared and paid for on a consortial level through
annual membership dues include an integrated library system including patron database,
cataloging system, and online catalog of materials; delivery of items between libraries in Marin, a
statewide library delivery service called Link+, numerous online resources, and more. The
Governing Board of the System consists of the library director or designated alternate of each
participant in the System. In accordance with the cost sharing formula developed by the library
directors of the participants, the City’s share of annual operating costs was $280,241 for the year
ended June 30, 2021. Financial statements of the System can be obtained from the County
Librarian, Marin County Free Library, Marin County Civic Center, 3501 Civic Center Drive, San
Rafael, California 94903.
B. The Marin General Services Authority (MGSA)
The MGSA was formed by the County of Marin and twelve local agencies to acquire street light
facilities, operate the facilities during an eminent domain action against PG&E, and coordinate
the subsequent transfer of the facilities to the individual local agencies. Each of the local agency’s
share of contributions was based on the number of street lights to be acquired in the local
agency’s individual jurisdiction in relation to the total number of street lights to be acquired by
the Marin Streetlight Acquisition Joint Powers Authority. MGSA services now include street
light maintenance, abandoned vehicle abatement, taxicab regulation, administrative responsibility
for MarinMap and the CATV program formerly administered by the Marin Telecommunications
Authority established to regulate the rates for cable television service and equipment. The City’s
contribution to MGSA was $746,336 for the year ended June 30, 2021. Financial statements of
the MGSA can be obtained at 555 Northgate Drive, Suite 230, San Rafael, California 94903.
85
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 12 - JOINTLY GOVERNED ORGANIZATIONS (Continued)
C. The Marin Emergency Radio Authority (MERA)
MERA was formed on February 28, 1998, by the County of Marin and 25 local agencies within
the County to plan, finance, implement, manage, own, and operate a County-wide public safety
and emergency radio system. The Governing Board consists of one representative from each
member. In February 2010, MERA refinanced its 1999 Revenue Bonds; the 1999 bonds were
originally issued in the amount of $26,940,000 to finance the acquisition of the system. The 2010
refunding bonds were issued at a premium of $934,832 above their par value of $18,575,000.
These bonds mature annually through 2021 and bear interest from 2% to 4%. Similar to the
original bonds, the refunding bonds are special obligations of MERA and are secured by the
Members’ service payments. On February 1, 2007, MERA borrowed $2,250,000 from Citizens
Business Bank. The note is being amortized over 14 ½ years at an annual interest rate of 4.43%.
Loan Payments are funded by member operating payments. The costs of maintenance, operation,
and debt service are divided on a pro rata share based on an agreed-upon formula established by a
majority of the Governing Board. The members entered into a Project Operating Agreement on
February 1, 1999.
Under the Operating Agreement, members are obligated to contribute service payments to cover
the Authority’s operations and debt service. The City’s portion of the obligation is 16.913%. The
first operating service payment was in July 1999. The first debt service payment was in August
2002. The City contributed $703,531 of the Authority’s operations and debt service for the fiscal
year ended June 30, 2021. The City has established a reserve in its internal service funds to pay
future service payments. Financial statements of the MERA can be obtained at 95 Rowland Way,
Novato, California 94945.
D.The Marin County Hazardous and Solid Waste Joint Powers Authority
The Authority was established by the County, local cities, and waste franchising districts to
finance, prepare and implement source reduction and recycling elements on a county-wide
integrated waste management plan as required by State Assembly Bill 939. The City’s
contribution to the Authority was $17,850 for the year ended June 30, 2021. Financial statements
of the Authority can be obtained at 3501 Civic Center Drive, San Rafael, California 94903.
86
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 12 - JOINTLY GOVERNED ORGANIZATIONS (Continued)
E. Central Marin Sanitation Agency (CMSA)
In October 1979, the District entered into a joint powers agreement with three neighboring
sanitation agencies in central Marin County forming the Central Marin Sanitation Agency
(CMSA). CMSA serves as a regional wastewater treatment plant for its four member agencies
and San Quentin Prison (SQ) and is governed by a five-member Board of Commissioners, two
appointed by the Board of Directors of the District, two appointed by the governing board of the
Ross Valley Sanitary District, and one appointed by the governing board of Sanitary District No. 2.
Total project costs for the joint venture were funded from federal (75%) and state (12.5%) clean
water grants and from local shares (12.5% total) allocated among the member agencies and SQ
based upon the weighted average of the strength and volume of sewage flows per member at
inception of the project. CMSA derives its annual funding for its operations and capital programs
almost exclusively from service charges to member agencies. The joint powers agreement does
not provide an explicit measurable right as required to establish an equity interest for any of the
joint venture participants, and in addition to, stipulates that all excess capital funds, if any, and all
excess administration, operations, and maintenance funds from whatever source, if any, are the
property of CMSA.
The financial statements of the CMSA are available at the CMSA office at 1301 Anderson Drive,
San Rafael, CA 94901 and online at www.cmsa.us.
NOTE 13 - RISK MANAGEMENT
A. City
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. The City established the
Risk Management Internal Service Fund to account for and finance its uninsured risks of loss.
The City manages risk by participating in a public entity risk pool (described below), purchasing
insurance and by retaining certain risks.
Risk Coverage
Liability Coverage
The City is a member of the California Joint Powers Risk Management Authority (CJPRMA)
which covers general liability claims up to $40,000,000. The purpose of CJPRMA is to spread the
adverse effects of general liability losses among the member agencies. The City also purchases
commercial insurance for property damage claims with an insured amount of $175,501,451. The
City is self-insured up to $750,000 for each general liability claim and $25,000 for each property
damage claim. Once the self-insured retention is met CJPRMA becomes responsible for payment
of all liability claims up to the limit. The City contributed a total of $546,304 in liability coverage
premiums during the fiscal year ended June 30, 2021. Five years after settlement of all general
liability claims for a program year, CJPRMA will retroactively adjust premium deposits for any
excess or deficiency in deposits related to paid claims and reserves. Financial statements for the
risk pool may be obtained from CJPRMA at 3201 Doolan Road, Suite 285, Livermore, California
94551.
87
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 13 - RISK MANAGEMENT (Continued)
Workers’ Compensation Coverage
The City purchases insurance for workers’ compensation through Safety National Casualty
Corporation Excess Workers’ Compensation and Employers Liability Insurance with coverage up
to statutory limits. The City is self-insured up to $1,000,000 for each worker’s compensation
claim.
Insurance Internal Service Funds and Financial Reporting
The City records estimated liabilities for claims filed up to the amounts for which it retains risk in
the General Liability and Workers Compensation Internal Service Funds. Charges to the General
Fund and other funds are based on relative general liability and workers compensation risk
associated with the activities of each fund. Charges are recorded in the funds as expenditures or
expenses and as revenues in the respective internal service funds.
Generally accepted accounting principles require municipalities to record the liability for
uninsured claims and to reflect the current portion of this liability as an expenditure in the
financial statements. As discussed above, the City has coverage for such claims, but it has
retained the risk for the deductible or uninsured portion of these claims.
The City’s liability for uninsured general liability claims and workers’ compensation claims,
including claims incurred but not reported, are reported in the Statements of Net Position. The
City’s present value liability for uninsured claims below include a provision for claims incurred
but not reported using a discount rate of 2%.
General Workers'Totals, as of June 30
Liability * Compensation * 2021 2020
Balance, beginning of year $4,353,908 $8,066,369 $12,420,277 $9,721,548
Current year claims and changes
in estimates 518,497 1,232,694 1,751,191 4,445,625
Claims paid (831,198) (1,071,367) (1,902,565) (1,746,896)
Balance, end of year $4,041,207 $8,227,696 $12,268,903 $12,420,277
Due in one year $1,376,677 $1,567,398 $2,944,075 $3,338,607
Due in more than one year 2,664,530 6,660,298 9,324,828 9,081,670
Total claim liabilities $4,041,207 $8,227,696 $12,268,903 $12,420,277
* Liability based on an actuarial valuation as of December 31, 2020, extrapolated to June 30, 2021
The claims settlements have not exceeded insurance coverage for the past three years.
88
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 13 - RISK MANAGEMENT (Continued)
B. District
The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction
of assets; errors and omissions; injuries to employees and natural disaster. The District
participates in a joint powers agreement with other entities forming the California Sanitation Risk
Management Authority (CSRMA), a public entity risk pool operating as a common risk
management and insurance program for 60 member entities. CSRMA is governed by a Board of
Directors composed of one representative from each member agency and meets three times per
year in conjunction with conferences of the California Association of Sanitation Agencies. The
Board controls the Note 1operations of CSRMA, including selection of management and
approval of operating budgets, independent of any influence by member entities.
The District pays annual premiums to CSRMA for its primary insurance and property insurance
programs. Primary and property insurance programs are fully insured wherein CSRMA
purchases insurance as a group thereby reducing its costs. CSRMA provides both fully insured
and pooled insurance programs for its participating member entities. Because all employees of
the District are contracted employees from the City of San Rafael, workers’ compensation
insurance is not carried by the District but is provided through the City.
CSRMA’s primary and property insurance programs transfer risk to commercial insurance
policies for claims above deductibles, while the District retains risk for claims to the extent of
deductibles. Settled claims for the District have not exceeded coverage provided by CSRMA in
any of the past three fiscal years.
The following summarizes active insurance policies as of June 30, 2021 together with coverage
limits for each insured event:
Insurance Program Limits Coverage Description
CSRMA - Allied World Assur.$3,000,000 Gen/Mgt liability - aggregate
CSRMA - Allied World Assur.$1,000,000 Gen/Mgt liability - occurrence
CSRMA - Allied World Assur.$1,000,000 Auto liability - accident
CSRMA - Allied World Assur.$4,000,000 Excess liability
CSRMA - Public Entity Property
Insurance Program (P.E.P.I.P.)$2,176,408 Special form property
CSRMA - Illinois Union Ins.$25,000,000 Pollution liability - tier 1
CSRMA - Illinois Union Ins.$2,000,000 Pollution liability - tier 2
CSRMA - Lloyds of London $2,000,000 Cyber liability - third party
CSRMA - Lloyds of London $2,000,000 Cyber liability - first party
CSRMA - Travelers Ins.$25,000 Identity theft
CSRMA - Lloyds of London $2,500,000 Deadly weapons - aggregate
The financial statements of CSRMA are available at their office: 100 Pine Street, 11th Floor, San
Francisco, CA 94111.
89
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 14 - COMMITMENTS AND CONTINGENCIES
A. City Litigation
The City is a defendant in several lawsuits arising from its normal operations. City management
is of the opinion that the potential claims against the City not covered by insurance resulting from
such litigation would not materially affect the basic financial statements of the City.
B. District
As of June 30, 2021, SRSD had several contracts for sewer improvement projects with remaining
obligations of approximately $2,520,000, the majority of which are expected to be completed
within the 2021-2022 fiscal year.
NOTE 15 - SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY PRIVATE-PURPOSE
TRUST FUND (SUCCESSOR AGENCY) ACTIVITIES
A. Redevelopment Dissolution
In an effort to mitigate its budget deficit, the State of California adopted ABx1 26 on June 28,
2011, amended by AB1484 on June 27, 2012, which suspended all new redevelopment activities
except for limited specified activities as of that date and dissolved redevelopment agencies on
January 31, 2012.
The suspension provisions prohibited all redevelopment agencies from a wide range of activities,
including incurring new indebtedness or obligations, entering into, or modifying agreements or
contracts, acquiring, or disposing of real property, taking actions to adopt or amend
redevelopment plans and other similar actions, except actions required by law or to carry out
existing enforceable obligations, as defined in ABx1 26.
In addition, ABx1 26 and AB1484 directed the State Controller to review the activities of all
redevelopment agencies and successor agencies to determine whether an asset transfer between
an agency and any public agency occurred on or after January 1, 2011. If an asset transfer did
occur and the public agency that received the asset is not contractually committed to a third party
for the expenditure or encumbrance of the asset, the legislation requires the State Controller to
order the asset returned to the redevelopment agency. This review was performed in May 2013,
and a report issued on July 29, 2013 (see section B of this footnote).
The City elected to become the Successor Agency to the Redevelopment Agency, and on
February 1, 2012, the Redevelopment Agency’s remaining net assets were distributed to the
Successor Agency. ABx1 26 requires the establishment of an Oversight Board to oversee the
activities of the Successor Agency and one was established on April 2, 2012. On July 1, 2018, the
County of Marin formed a county-wide Oversight Board to oversee the activities of all Successor
Agencies within the County, including San Rafael. The activities of the Successor Agency are
subject to review and approval of the Oversight Board, which is comprised of seven members.
The activities of the Successor Agency are reported in the Successor Agency to the
Redevelopment Agency Private-Purpose Trust Fund as the activities are under the control of the
Oversight Board. The City provides administrative services to the Successor Agency to wind
down the affairs of the former Redevelopment Agency.
90
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 15 - SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY PRIVATE-PURPOSE
TRUST FUND (SUCCESSOR AGENCY) ACTIVITIES (Continued)
Pursuant to the dissolution of the City of San Rafael Redevelopment Agency, certain assets of the
Redevelopment Agency were distributed to the Housing Successor and all remaining
Redevelopment Agency assets and liabilities were distributed to the Successor Agency.
The City elected to become the Housing Successor and on February 1, 2012. Assets and
Liabilities relating to the Housing Successor are reported in the City’s Low and Moderate Income
Housing Special Revenue Fund.
B. Redevelopment Property Tax Trust Fund (RPTTF)
The Successor Agency’s primary source of revenue comes from the RPTTF allocation distributed
by the County. Property tax revenues for each Project Area are deposited into the RPTTF, which
redistributes each Project Area’s tax increment under specified formulas. The County Auditor
administers the RPTTF and disburses twice annually from this fund pass-through payments to
affected taxing entities, an amount equal to the total of obligation payments that are required to be
paid from tax increment as denoted on the Recognized Obligation Payment Schedule (“ROPS”).
The disbursements are established in the treasury of the Successor Agencies, and various allowed
administrative fees and allowances. Any remaining balance is then distributed by the County
Auditor back to affected taxing entities under a prescribed method that accounts for pass-through
payments. The County Auditor is also responsible for the distributing other monies received from
the Successor Agency (from sale of assets, etc.) to the affected taxing entities. Successor agencies
in turn will use the amounts deposited into their respective funds to make payments for principal
and interest on loans and monies advanced to or indebtedness incurred by the dissolved
redevelopment agencies.
C. Long-Term Debt
1999 Tax Allocation Bonds and Capital Appreciation Bonds
On June 16, 1999, the former Agency issued Tax Allocation Bonds in the amount of $23,504,004.
The bonds were issued as Current Interest Bonds in the aggregate principal amount of
$21,115,000 and as Capital Appreciation Bonds in the original amount of $2,389,004. The
proceeds of the bonds were used to finance certain redevelopment activities of benefit to the
former Agency’s Central San Rafael Redevelopment Project Area.
In December 2009 of the former Agency exercised the redemption option of the Current Interest
Bonds. The outstanding balance of the Bonds was refunded, on a current basis, through the
issuance of the 2009 Tax Allocation Refunding Bonds as discussed below.
The Capital Appreciation Bonds mature annually after December 1 from 2018 to 2022, in
amounts ranging from $1,440,000 to $2,070,000 and bear interest at rates from 5.58% to 5.60%.
Interest on the Capital Appreciation Bonds will compound on each interest premium date and will
be payable solely at maturity. The bonds are secured, on parity with the 1992 and 1995 bonds
(refunded in 2002), by a pledge and a lien on tax revenues and amounts on deposit in certain
funds and accounts held by the fiscal agent.
91
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 15 - SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY PRIVATE-PURPOSE
TRUST FUND (SUCCESSOR AGENCY) ACTIVITIES (Continued)
2002 Tax Allocation Refunding Bonds
On October 9, 2002, the former Agency issued Tax Allocation Refunding Bonds in the amount of
$25,020,000. The proceeds of the bonds were used to refund the 1992 Tax Allocation Refunding
Bonds and the 1995 Tax Allocation Bonds. The Bonds mature annually each December 1 from
2002 to 2022, in amounts ranging from $540,000 to $1,920,000 and bear interest at rates ranging
from 2.00% to 5.25%. Interest is payable semiannually on June 1 and December 1. The Bonds
maturing on or after December 1, 2013, are subject to optional redemption prior to maturity, in
whole or in part, and by lot within any one maturity, prior to their respective maturity dates, on
any date on or after December 1, 2012, at a price equal to the principal amount, plus accrued
interest on the redemption date. The bonds are payable from tax revenues to be derived from the
redevelopment activities of the former Agency related to the Central San Rafael Redevelopment
Project Area.
2009 Tax Allocation Refunding Bonds
On December 14, 2009, the former Agency issued 2009 Tax Allocation Refunding Bonds in the
amount of $14,660,000 bearing interest at rates from 3.00% to 5.00%. The proceeds of the Series
2009 Bonds were used to refund the former Agency’s 1999 Tax Allocation Current Interest
Bonds and to advance funds to the City to finance street and parking improvements for the benefit
of the Agency’s Central San Rafael Redevelopment Project. Principal payments are due annually
on December 30 and interest payable semiannually on June 30 and December 30.
The Series 2009 Bonds maturing on or before December 1, 2019, are not subject to optional
redemption prior to their respective stated maturities. The Series 2009 Bonds maturing on or
after December 1, 2020, are subject to optional redemption as a whole or in part either on a pro
rata basis among maturities or in inverse order of maturity, and by lot within any one maturity,
prior to their respective maturity dates, at the option of the Agency, on any date on or after
December 1, 2019, at a price equal to the principal amount of such Series 2009 Bonds called for
redemption, together with interest accrued on the date fixed for redemption, without premium.
Use of Tax Increment
The former Agency pledged all future tax increment revenues for the repayment of the 1999
Capital Appreciation Bonds, and the 2002 and 2009 Tax Allocation Refunding Bonds. The
pledge of all future tax increment revenues ends upon repayment of $7.1 million in remaining
debt service on the Bonds, which is scheduled to occur in 2023. For fiscal year June 30, 2021,
tax increment revenue amounted to $3.9 million which was used to make the debt service
payment of $3.8 million. The bond covenants contain events of default that require the revenue of
the Agency to be applied by the Trustee as specified in the terms of the agreement if any of the
following conditions occur: default on debt service payments; the failure of the Agency to
observe or perform the conditions, covenants, or agreement terms of the debt; bankruptcy filing
by the Agency; or if any court or competent jurisdiction shall assume custody or control of the
Agency. The Agency’s bonds also contain a subjective acceleration clause that allows the trustees
or holders, who hold the majority of the aggregate principal amount of the notes, to accelerate
payment of the entire principal amount outstanding and interest accrued to become immediately
due if they determine that a material adverse change occurs.
92
CITY OF SAN RAFAEL
NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2021
NOTE 15 - SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY PRIVATE-PURPOSE
TRUST FUND (SUCCESSOR AGENCY) ACTIVITIES (Continued)
The following table summarizes the activity for the fiscal year ended June 30, 2021:
Authorized Balance Balance Current
and Issued June 30, 2020 Additions Retirements June 30, 2021 Portion
San Rafael Successor Agency
1999 Tax Allocation Bonds
Capital Appreciation Bonds
5.58%-5.6%, due 12/1/2022 $2,389,004 $4,529,313 $216,865 $1,440,000 $3,306,178 $1,440,000
2002 Tax Allocation Refunding Bonds
2.00%-5.25%, due 12/1/2021 25,020,000 1,205,000 590,000 615,000 615,000
2009 Tax Allocation Refunding Bonds
3.00%-5.00%, due 12/1/2022 14,660,000 4,170,000 1,320,000 2,850,000 1,390,000
Add: deferred bond premium costs 239,579 79,861 159,718
Total Successor Agency Long-term Debt $10,143,892 $216,865 $3,429,861 $6,930,896 $3,445,000
Debt Service Requirements
Annual debt service requirements are shown below:
For the Year
Ended June 30 Principal Interest
2022 $3,445,000 $120,819
2023 3,530,000 36,500
Totals 6,975,000 $157,319
Reconciliation of long-term debt:
Less: unaccreted discount (203,822)
Less: deferred bond premium costs 159,718
$6,930,896
D. Other Long-Term Obligations
During the fiscal year ending June 30, 2013, the San Rafael Successor Agency Oversight Board
approved two personnel-related obligations of the former Redevelopment Agency. On August 30,
2012, the Oversight Board approved the inclusion of $1,904,431, representing the unfunded pension
liability attributable to former Redevelopment Agency employees; the repayment was made in ten
equal, annual installments. The final payment of $190,444 was made during the year ended June 30,
2021.
E. Commitment and Contingencies
State Approval of Enforceable Obligation
The Successor Agency prepares a Recognized Obligation Payment Schedule (ROPS) semi-annually
that contains all proposed expenditures for the subsequent six-month period. The ROPS is subject to
the review and approval of the Oversight Board as well as the State Department of Finance. As of
June 30, 2021, the Successor Agency had prepared fourteen ROPS, all of which have been
approved by the Oversight Board and the California Department of Finance. The Department of
Finance has stated that all items on a future ROPS are subject to a subsequent review. The amount,
if any, of current obligations that may be denied by the Department of Finance cannot be
determined at this time. The City expects such amounts, if any, to be immaterial.
93
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
Measurement date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018
City's proportionate share 30.0453% 36.7394% 34.9538% 32.7180% 33.4752%
Proportionate share of total pension liability $677,753,565 $907,195,058 $900,629,287 $878,483,703 $947,923,920
Proportionate share of fiduciary net position 603,499,779 764,871,931 733,574,437 757,834,016 837,356,062
Proportionate share of the net pension liability $74,253,786 $142,323,127 $167,054,850 $120,649,687 $110,567,858
Plan fiduciary net position as a percentage of the total pension liability 89.04% 84.31% 84.31% 86.27% 88.34%
Covered payroll (report date)$31,073,560 $32,126,272 $32,885,135 $36,349,651 $33,106,430
Net pension liability as a percentage of covered payroll 238.96% 443.01% 508.00% 331.91% 333.98%
Measurement date 6/30/2019 6/30/2020
City's proportionate share 36.6081% 34.3574%
Proportionate share of total pension liability $1,082,900,638 $1,059,269,505
Proportionate share of fiduciary net position 949,023,107 901,989,929
Proportionate share of the net pension liability $133,877,531 $157,279,576
Plan fiduciary net position as a percentage of the total pension liability 87.64% 85.15%
Covered payroll (report date)$32,887,922 $31,697,590
Net pension liability as a percentage of covered payroll 407.07% 496.19%
* - The fiscal year ended June 30, 2015 was the first year of implementation, therefore only seven years are shown.
Cost-Sharing Multiple Employer Plan
Schedule of the City's Proportionate Share of the Net Pension Liability
Last 10 years*
94
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
Schedule of Contributions
Cost-Sharing Multiple Employer
Defined Benefit Pension Plan
Last 10 years (subject to available information: first year of implementation was Fiscal Year ended June 30, 2015)
Fiscal year ended, June 30 2015
Contractually required contribution $17,802,358
Contributions in Relation to the
Contractually required contribution 17,802,358
Contribution Deficiency/ (Excess) $0
Covered payroll $31,073,560
Contributions as a percentage of
covered payroll 57.29%
Notes to Schedule
Valuation Date / Timing 6/30/2013 (for contributions made in FY2014-2015)
Key Methods and Assumptions Used to Determine Contribution Rates (for FY2014-15):
Actuarial cost method Entry Age Normal Cost Method
Amortization method Level percentage of payroll with separate period for Extraordinary Actuarial Loss from 2009
Remaining Amortization period Unfunded liability - 17 years / Extraordinary Actuarial Loss - 25 years
Asset valuation method 5-year smoothed market, 80% /120% corridor around market
Inflation 3.25%
Salary increases 3.25% plus merit component based on employee classification and years of service
Investment Rate of Return 7.50%
Retirement Age
Healthy Mortality Sex distinct RP-2000 Combined Mortality projected to 2010 using Scale AA
with ages set back one year for male members / two years for female members
Disabled Mortality Sex distinct RP-2000 Combined Mortality projected to 2010 using Scale AA
with ages set forward three years for all members
Classic Tiers: Safety - 50, Miscellaneous - 55; PEPRA Tiers: Safety - 57, Miscellaneous - 62
95
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
Fiscal year ended, June 30 2016
Contractually required contribution $19,339,577
Contributions in Relation to the
Contractually required contribution 19,339,577
Contribution Deficiency/ (Excess)$0
Covered payroll $32,126,272
Contributions as a percentage of
covered payroll 60.20%
Notes to Schedule
Valuation Date / Timing 6/30/2014 (for contributions made in FY2015-2016)
Key Methods and Assumptions Used to Determine Contribution Rates (for FY2015-16):
Actuarial cost method Entry Age Normal Cost Method
Amortization method Level percentage of payroll with separate period for Extraordinary Actuarial Loss from 2009
Remaining Amortization period Unfunded liability - 16 years / Extraordinary Actuarial Loss - 24 years
Asset valuation method 5-year smoothed market, 80% /120% corridor around market
Inflation 3.25%
Salary increases 3.25% plus merit component based on employee classification and years of service
Investment Rate of Return 7.25%
Retirement Age
Healthy Mortality CalPERS 2014 Pre-Retirement Non-Industrial Death rates (plus Duty-Related Death rates for
Safety Members), with the 20-year static projection used by CalPERS replaced by
generational improvements from a base year of 2009 using Scale MP-2014
Disabled Mortality CalPERS 2014 Disability Mortality rates (Non-Industrial rates for Miscellaneous members
and Industrial Disability rates for Safety members), adjusted by 90% for Males and Females
(Miscellaneous and Safety) with the 20-year static projection used by CalPERS replaced by
generational improvements from a base year of 2009 using Scale MP-2014
Schedule of Contributions
Classic Tiers: Safety - 50, Miscellaneous - 55; PEPRA Tiers: Safety - 57, Miscellaneous - 62
Defined Benefit Pension Plan
Last 10 years (subject to available information: first year of implementation was Fiscal Year ended June 30, 2015)
(Continued)
Cost-Sharing Multiple Employer
96
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
Fiscal year ended, June 30 2017
Contractually required contribution $20,003,001
Contributions in Relation to the
Contractually required contribution 20,003,001
Contribution Deficiency/ (Excess)$0
Covered payroll $32,885,135
Contributions as a percentage of
covered payroll 60.83%
Notes to Schedule
Valuation Date / Timing 6/30/2015 (for contributions made in FY2016-2017)
Key Methods and Assumptions Used to Determine Contribution Rates (for FY2016-17):
Actuarial cost method Entry Age Normal Cost Method
Amortization method Level percentage of payroll with separate period for Extraordinary Gains or Losses
(24 years remaining as of 6/30/14), the remaining UAL as of June 30, 2013
(16 years as of 6/30/14), and additional layers for unexpected changes in UAL after
6/30/13 (24 years for gains and losses with a 5-year phase-in/out and 22 years for
assumption changes with a 3-year phase-in/out).
Remaining Amortization period 19 years remaining as of June 30, 2016
Asset valuation method Market Value
Inflation 2.75% per year
Salary increases 3.00% plus merit component based on employee classification and years of service
Investment Rate of Return 7.25%
Retirement Age
Healthy Mortality Sex distinct RP-2000 combined mortality projected to 2010 using Scale AA with ages
set back one year for male members/two years for female members
Disabled Mortality Sex distinct RP-2000 combined mortality projected to 2010 using Scale AA with ages
set forward three years for all members
Schedule of Contributions
Defined Benefit Pension Plan
Last 10 years (subject to available information: first year of implementation was Fiscal Year ended June 30, 2015)
Classic Tiers: Safety - 50, Miscellaneous - 55; PEPRA Tiers: Safety - 57, Miscellaneous - 62
(Continued)
Cost-Sharing Multiple Employer
97
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
Fiscal year ended, June 30 2018
Contractually required contribution $20,167,435
Contributions in Relation to the
Contractually required contribution 20,167,435
Contribution Deficiency/ (Excess) $0
Covered payroll $36,349,651
Contributions as a percentage of
covered payroll 55.48%
Notes to Schedule
Valuation Date / Timing 6/30/2016 (for contributions made in FY2017-2018)
Key Methods and Assumptions Used to Determine Contribution Rates (for FY2017-18):
Actuarial cost method Entry Age Normal Cost Method
Amortization method Level percentage of payroll with separate period for Extraordinary Gains or Losses
(22 years remaining as of 6/30/16), the remaining UAL as of June 30, 2013
(14 years as of 6/30/16), and additional layers for unexpected changes in UAL after
6/30/13 (24 years for gains and losses with a 5-year phase-in/out and 22 years for
assumption changes with a 3-year phase-in/out).
Remaining Amortization period 18 years remaining as of June 30, 2017
Asset valuation method Market Value
Inflation 2.75% per year
Salary increases 3.00% plus merit component based on employee classification and years of service
Investment Rate of Return 7.25%
Retirement Age
Healthy Mortality Sex distinct CalPERS 2014 Pre-Retirement Non-Industrial Death rates (plus Duty-Related
death rates for Safety members)
Disabled Mortality Sex distinct RP-2000 combined mortality projected to 2010 using Scale AA with ages
set forward three years for all members
Disabled Mortality Rates of mortality among disabled members are given by CalPERS 2017
Disability Mortality rates (Non-Industrial rates for Miscellaneous members
and Industrial Disability rates for Safety members), adjusted by 90% for
Males (Miscellaneous and Safety) and 90% for Miscellaneous Females,
with the 15-year static projection used by CalPERS replaced by generational
improvements from a base year of 2014 using Scale MP-2017.
Classic Tiers: Safety - 50, Miscellaneous - 55; PEPRA Tiers: Safety - 57, Miscellaneous - 62
Schedule of Contributions
Cost-Sharing Multiple Employer
Defined Benefit Pension Plan
Last 10 years (subject to available information: first year of implementation was Fiscal Year ended June 30, 2015)
(Continued)
98
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
Fiscal year ended, June 30 2019
Contractually required contribution $20,352,203
Contributions in Relation to the
Contractually required contribution 20,352,203
Contribution Deficiency/ (Excess) $0
Covered payroll $33,106,430
Contributions as a percentage of
covered payroll 61.48%
Notes to Schedule
Valuation Date / Timing 6/30/2017 (for contributions made in FY2018-2019)
Key Methods and Assumptions Used to Determine Contribution Rates (for FY2018-19):
Actuarial cost method Entry Age Normal Cost Method
Amortization method Level percentage of payroll with separate period for Extraordinary Gains or Losses
(21 years remaining as of 6/30/17), th e remaining UAL as of June 30, 2013
(13 years as of 6/30/17), and additional layers for unexpected changes in UAL after
6/30/13 (24 years for gains and losses with a 5-year phase-in/out and 22 years for
assumption changes with a 3-year phase-in/out).
Remaining Amortization period 17 years remaining as of June 30, 2018
Asset valuation method Market Value
Inflation 2.75% per year
Salary increases 3.00% plus merit component based on employee classification and years of service
Investment Rate of Return 7.00%
Retirement Age
Healthy Mortality Rates of mortality for active members are specified by CalPERS 2017
Pre-Retirement Non-Industrial Death Rates (plus Duty-Related Death
rates for Safety members), with the 20-year static projection used by
CalPERS replaced by generational improvements from a base year of
2014 using Scale MP-2017.
Disabled Mortality Rates of mortality among disabled members are given by CalPERS 2017
Disability Mortality rates (Non-Industrial rates for Miscellaneous members
and Industrial Disability rates for Safety members), adjusted by 90% for
Males (Miscellaneous and Safety) and 90% for Miscellaneous Females,
with the 20-year static projection used by CalPERS replaced by generational
improvements from a base year of 2014 using Scale MP-2017.
Schedule of Contributions
Defined Benefit Pension Plan
Last 10 years (subject to available information: first ye ar of implementation was Fiscal Year ended June 30, 2015)
(Continued)
Classic Tiers: Safety - 50, Miscellaneous - 55; PEPRA Tiers: Safety - 57, Miscellaneous - 62
Cost-Sharing Multiple Employer
99
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
Fiscal year ended, June 30 2020
Contractually required contribution $20,031,614
Contributions in Relation to the
Contractually required contribution 20,031,614
Contribution Deficiency/ (Excess) $0
Covered payroll $32,887,922
Contributions as a percentage of
covered payroll 60.91%
Notes to Schedule
Valuation Date / Timing 6/30/2018 (for contributions made in FY2019-2020)
Key Methods and Assumptions Used to Determine Contribution Rates (for FY2019-20):
Actuarial cost method Entry Age Normal Cost Method
Amortization method Level percentage of payroll with separate period for Extraordinary Gains or Losses
(20 years remaining as of 6/30/18), th e remaining UAL as of June 30, 2013
(12 years as of 6/30/18), and additional layers for unexpected changes in UAL after
6/30/13 (24 years for gains and losses with a 5-year phase-in/out and 22 years for
assumption changes with a 3-year phase-in/out).
Remaining Amortization period 12 years remaining as of June 30, 2018
Asset valuation method Market Value
Inflation 2.75% per year
Salary increases 3.00% plus merit component based on employee classification and years of service
Investment Rate of Return 7.00%
Retirement Age
Healthy Mortality
Disabled Mortality
Rates of mortality for active members are specified by CalPERS 2017 Pre-Retirement Non-Industrial Death rates (plus Duty-
Related Death rates for Safety members), with the 15-year st atic projection used by CalPERS replaced by generational
improvements from a base year of 2014 using Scale MP-2017. 0% of all Miscellaneous and 95% of all Safety pre-retirement
deaths are assumed to be service-connected.
Rates of mortality for retired members and their beneficiaries are given by CalPERS 2017 Post-Retirement Healthy Morality
rates, adjusted by 90% for Males (Miscellaneous and Safety), with the 15-year static projection used by CalPERS replaced
by generational improvements from a base year of 2014 using Scale MP-2017.
Schedule of Contributions
Defined Benefit Pension Plan
Last 10 years (subject to available information: first year of implementation was Fiscal Year ended June 30, 2015)
(Continued)
Classic Tiers: Safety - 50, Miscellaneous - 55; PEPRA Tiers: Safety - 57, Miscellaneous - 62
Cost-Sharing Multiple Employer
100
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
Fiscal year ended, June 30 2021
Contractually required contribution $20,106,821
Contributions in Relation to the
Contractually required contribution 20,106,821
Contribution Deficiency/ (Excess)$0
Covered payroll $31,697,590
Contributions as a percentage of
covered payroll 63.43%
Notes to Schedule
Valuation Date / Timing 6/30/2019 (for contributions made in FY2020-2021)
Key Methods and Assumptions Used to Determine Contribution Rates (for FY2020 - 21):
Actuarial cost method Entry Age Normal Cost Method
Amortization method Level percentage of payroll with separate period for Extraordinary Gains or Losses
(19 years remaining as of 6/30/19), the remaining UAL as of June 30, 2013
(11 years as of 6/30/19), and additional layers for unexpected changes in UAL after
6/30/13 (24 years for gains and losses with a 5-year phase-in/out and 22 years for
assumption changes with a 3-year phase-in/out).
Remaining Amortization period 11 years remaining as of June 30, 2019
Asset valuation method Market Value
Inflation 2.75% per year
Salary increases 3.00% plus merit component based on employee classification and years of service
Investment Rate of Return 7.00%
Retirement Age
Healthy Mortality
Disabled Mortality
Schedule of Contributions
Cost-Sharing Multiple Employer
Defined Benefit Pension Plan
Last 10 years (subject to available information: first year of implementation was Fiscal Year ended June 30, 2015)
(Continued)
Classic Tiers: Safety - 50, Miscellaneous - 55; PEPRA Tiers: Safety - 57, Miscellaneous - 62
Rates of mortality for active members are specified by CalPERS 2017 Pre-Retirement Non-Industrial Death rates (plus Duty-
Related Death rates for Safety members), with the 15-year static projection used by CalPERS replaced by generational
improvements from a base year of 2014 using Scale MP-2017. 0% of all Miscellaneous and 95% of all Safety pre-retirement
deaths are assumed to be service-connected.
Rates of mortality for retired members and their beneficiaries are given by CalPERS 2017 Post-Retirement Healthy Morality
rates, adjusted by 90% for Males (Miscellaneous and Safety), with the 15-year static projection used by CalPERS replaced
by generational improvements from a base year of 2014 using Scale MP-2017.
101
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
Measurement period 2015-16 2016-17 2017-18 2018-19 2019-20
Total OPEB liability
Service cost $766,000 $789,000 $822,000 $805,000 $687,000
Interest 3,447,000 3,540,000 3,435,000 3,515,000 3,196,000
Differences between expected and actual experience (4,107,000) (3,040,000)
Assumption changes 4,831,000 (2,735,000)
Benefit payments, including refunds of employee contributions (2,896,000) (3,015,000) (3,028,000) (3,072,000) (3,225,000)
Net change in total OPEB liability 1,317,000 2,038,000 1,229,000 (4,527,000) 658,000
Total OPEB liability - beginning 48,226,000 49,543,000 51,581,000 52,810,000 48,283,000
Total OPEB liability - ending (a)$49,543,000 $51,581,000 $52,810,000 $48,283,000 $48,941,000
OPEB fiduciary net position
Contributions - employer $2,896,000 $3,475,000 $3,573,000 $3,725,000 $3,784,000
Net investment income 157,000 1,675,000 1,425,000 1,224,000 770,000
Benefit payments, including refunds of employee contributions (2,896,000) (3,015,000) (3,028,000) (3,072,000) (3,225,000)
Administrative expense (7,000) (8,000) (44,000) (12,000) (19,000)
Net change in plan fiduciary net position 150,000 2,127,000 1,926,000 1,865,000 1,310,000
Plan fiduciary net position - beginning 15,608,000 15,758,000 17,885,000 19,811,000 21,676,000
Plan fiduciary net position - ending (b)$15,758,000 $17,885,000 $19,811,000 $21,676,000 $22,986,000
Plan net OPEB liability - ending (a) - (b)$33,785,000 $33,696,000 $32,999,000 $26,607,000 $25,955,000
Plan fiduciary net position as a percentage
of the total OPEB liability 31.81%34.67%37.51%44.89%46.97%
Covered employee payroll (Report Date)$32,885,000 $36,350,000 $40,496,000 $39,920,000 $39,310,000
Plan net OPEB liability as a percentage of covered employee payroll 102.74%92.70%81.49%66.65%66.03%
Historical information is required only for the measurement periods for which GASB 75 is applicable.
Other Post-Employment Benefits (OPEB)
Last Ten Fiscal Years
Agent Multiple Employer Defined Benefit Plan
SCHEDULE OF CHANGES IN NET OPEB LIABILITY AND RELATED RATIOS
102
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
SCHEDULE OF CONTRIBUTIONS
Agent Multiple Employer Defined Benefit Plan
Last Ten Fiscal Years
Other Post-Employment Benefits (OPEB)
Fiscal year 2016-17
Actuarially determined contribution $3,450,000
Contributions in relation to
the actuarially determined contribution (3,475,000)
Contribution deficiency (excess)($25,000)
Covered employee payroll $32,885,000
Contributions as a percentage of
covered employee payroll 10.49%
GASB 75 requires this information for plans funding with OPEB trusts be reported in the employer's Required Supplementary
Information for 10 years or as many years as are available upon implementation.
The June 30, 2017 actuarial valuation provided the Actuarially Determined Contributions for fiscal years ending 06/30/17.
Notes to Schedule:
Actuarially determined contribution rates are calculated as of June 30, two years prior to the end of the fiscal year in
which contributions are reported.
Methods and assumptions used to determine contribution rates:
Valuation Date June 30, 2015
Actuarial Cost Method Entry Age Normal, Level Percentage of Payroll
Amortization Method Level dollar amount, over approximate 10-year period
Remaining Amortization 19 years remaining as of June 30, 2016
Asset Valuation Method Investment gains and losses spread over 5-year rolling period
Discount Rate 7.25%
Contribution Policy City contributes full ADC
General Inflation 2.75% per annum
Mortality, Retirement, Disability, Termination Same as June 30, 2015 actuarial valuation
Mortality Improvement
Expected Long-Term Rate of Return on Investments
Salary Increases Aggregate - 3%
Merit - 6/30/14 MCERA assumptions
Medical Trend Non-Medicare - 6.5% for 2017, decreasing 0.5% per year to an ultimate
rate of 4.50% for 2021 and Medicare - 6.7% for 2017, decreasing to an
ultimate rate of 4.5% for 2021 and later years
Healthcare participation for future retirees Capped benefit: 100% currently covered, 80% currently waived
PEMHCA minimum - 60%
Cap Increases None
Mortality projected fully generational with Scale MP-14, modified
to converge to ultimate improvement rates in 2022
Same as discount rate - expected City contributions projected to
keep sufficient plan assets to pay all benefits from trust
103
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
SCHEDULE OF CONTRIBUTIONS
Last Ten Fiscal Years
Other Post-Employment Benefits (OPEB)
(Continued)
Fiscal year 2017-18
Actuarially determined contribution $3,530,000
Contributions in relation to
the actuarially determined contribution (3,563,000)
Contribution deficiency (excess) ($33,000)
Covered employee payroll $36,350,000
Contributions as a percentage of
covered employee payroll 9.80%
GASB 75 requires this information for plans funding with OPEB trusts be reported in the employer's Required Supplementary
Information for 10 years or as many years as are available upon implementation.
The June 30, 2017 actuarial valuation provided the Actuarially Determined Contributions for fiscal years ending 6/30/18 and
6/30/19.
Notes to Schedule:
Actuarially determined contribution rates are calculated as of June 30, two years prior to the end of the fiscal year in
which contributions are reported.
Methods and assumptions used to determine contribution rates:
Valuation Date June 30, 2017
Actuarial Cost Method Entry Age Normal, Level Percentage of Payroll
Amortization Method Level dollar amount, over approximate 10-year period
Remaining Amortization 18 years remaining as of June 30, 2017
Asset Valuation Method Investment gains and losses spread over 5-year rolling period
Discount Rate 6.75% at June 30, 2017; 7.25% at June 30, 2016
Contribution Policy City contributes full ADC
General Inflation 2.75% per annum
Mortality, Retirement, Disability, Termination Same as June 30, 2017 actuarial valuation
Mortality Improvement
Expected Long-Term Rate of Return on Investments
Salary Increases Aggregate - 3%
Merit - 6/30/17 MCERA assumptions
Medical Trend Non-Medicare - 7.5% for 2019, decreasing to 4.00% for
2076 and later years and Medicare - 6.5% for 2019, decreasing
to 4.00% for 2076 and later years
Healthcare participation for future retirees Capped benefit: 100% currently covered, 80% currently waived
PEMHCA minimum - 60%
Cap Increases None
Agent Multiple Employer Defined Benefit Plan
Post-retirement mortality: projected fully generational with Scale MP-2017
Pre-retirement mortality: projected 15-year static with 90% of Scale MP-2016
Same as discount rate - expected City contributions projected to keep sufficient plan
assets to pay all benefits from trust
104
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
SCHEDULE OF CONTRIBUTIONS
Last Ten Fiscal Years
Other Post-Employment Benefits (OPEB)
(Continued)
Fiscal year 2018-19
Actuarially determined contribution $3,612,000
Contributions in relation to
the actuarially determined contribution (3,725,000)
Contribution deficiency (excess) ($113,000)
Covered employee payroll $40,496,000
Contributions as a percentage of
covered employee payroll 9.20%
GASB 75 requires this information for plans funding with OPEB trusts be reported in the employer's Required Supplementary
Information for 10 years or as many years as are available upon implementation.
The June 30, 2017 actuarial valuation provided the Actuarially De termined Contributions for fiscal years ending 6/30/18 and
6/30/19.
Notes to Schedule:
Actuarially determined contribution rates are calculated as of June 30, two years prior to the end of the fiscal year in
which contributions are reported.
Methods and assumptions used to determine contribution rates:
Valuation Date June 30, 2017
Actuarial Cost Method Entry Age Normal, Level Percentage of Payroll
Amortization Method Level dollar amount, over approximate 10-year period
Remaining Amortization 18 years remaining as of June 30, 2017
Asset Valuation Method Investment gains and losses spread over 5-year rolling period
Discount Rate 6.75% at June 30, 2017; 7.25% at June 30, 2016
Contribution Policy City contributes full ADC
General Inflation 2.75% per annum
Mortality, Retirement, Disability, Termination Same as June 30, 2017 actuarial valuation
Mortality Improvement
Expected Long-Term Rate of Return on Investments
Salary Increases Aggregate - 3%
Merit - 6/30/17 MCERA assumptions
Medical Trend Non-Medicare - 7.5% for 2019, decreasing to 4.00% for
2076 and later years and Medicare - 6.5% for 2019, decreasing
to 4.00% for 2076 and later years
Healthcare participation for future retirees Capped benefit: 100% currently covered, 80% currently waived
PEMHCA minimum - 60%
Cap Increases None
Pre-retirement mortality: projected 15-year static with 90% of Scale MP-2016
Post-retirement mortality: projected fully generational with Scale MP-2017
Same as discount rate - expected City contributions projected to keep
sufficient plan assets to pay all benefits from trust
Agent Multiple Employer Defined Benefit Plan
105
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
SCHEDULE OF CONTRIBUTIONS
Last Ten Fiscal Years
Other Post-Employment Benefits (OPEB)
(Continued)
Fiscal year 2019-20
Actuarially determined contribution $3,677,000
Contributions in relation to
the actuarially determined contribution (3,784,000)
Contribution deficiency (excess) ($107,000)
Covered employee payroll $39,920,000
Contributions as a percentage of
covered employee payroll 9.48%
GASB 75 requires this information for plans funding with OPEB trusts be reported in the employer's Required Supplementary
Information for 10 years or as many years as are available upon implementation.
The June 30, 2019 actuarial valuation provided the Actuarially Determined Contributions for fiscal years ending 6/30/20 and
6/30/21.
Notes to Schedule:
Actuarially determined contribution rates are calculated as of June 30, two years prior to the end of the fiscal year in
which contributions are reported.
Methods and assumptions used to determine contribution rates:
Valuation Date June 30, 2019
Actuarial Cost Method Entry Age Normal, Level Percentage of Payroll
Amortization Method Level dollar amount, over approximate 10-year period
Remaining Amortization 16 years remaining as of June 30, 2019
Asset Valuation Method Investment gains and losses spread over 5-year rolling period
Discount Rate 6.75% at June 30, 2019 and June 30, 2018, respectively
Contribution Policy City contributes full ADC
General Inflation 2.75% per annum
Mortality, Retirement, Disability, Termination Same as June 30, 2017 actuarial valuation
Mortality Improvement
Expected Long-Term Rate of Return on Investments
Salary Increases Aggregate - 3%
Merit - 6/30/19 MCERA assumptions
Medical Trend Non-Medicare - 7.25% for 2021, decreasing to an ultimate rate
of 4.0% in 2076 and Medicare - 6.3% for 2021, decreasing to
an ultimate rate of 4.00% in 2076
Healthcare participation for future retirees Capped benefit: 90% currently covered, 70% currently waived
PEMHCA minimum - 60%
Cap Increases None
Agent Multiple Employer Defined Benefit Plan
Mortality projected fully generational with Scale MP-2019
Same as discount rate - expected City contributions projected to keep
sufficient plan assets to pay all benefits from trust
106
CITY OF SAN RAFAEL
REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2021
SCHEDULE OF CONTRIBUTIONS
Last Ten Fiscal Years
Other Post-Employment Benefits (OPEB)
(Continued)
Fiscal year 2020-21
Actuarially determined contribution $3,027,000
Contributions in relation to
the actuarially determined contribution (3,322,583)
Contribution deficiency (excess) ($295,583)
Covered employee payroll $39,310,000
Contributions as a percentage of
covered employee payroll 8.45%
GASB 75 requires this information for plans funding with OPEB trusts be reported in the employer's Required Supplementary
Information for 10 years or as many years as are available upon implementation.
The June 30, 2019 actuarial valuation provided the Actuarially Determined Contributions for fiscal years ending 6/30/20 and
6/30/21.
Notes to Schedule:
Actuarially determined contribution rates are calculated as of June 30, two years prior to the end of the fiscal year in
which contributions are reported.
Methods and assumptions used to determine contribution rates:
Valuation Date June 30, 2019
Actuarial Cost Method Entry Age Normal, Level Percentage of Payroll
Amortization Method Level dollar amount, over approximate 10-year period
Remaining Amortization 16 years remaining as of June 30, 2019
Asset Valuation Method Investment gains and losses spread over 5-year rolling period
Discount Rate 6.75% at June 30, 2020 and June 30, 2019, respectively
Contribution Policy City contributes full ADC
General Inflation 2.75% per annum
Mortality, Retirement, Disability, Termination Same as June 30, 2017 actuarial valuation
Mortality Improvement
Expected Long-Term Rate of Return on Investments
Salary Increases Aggregate - 3%
Merit - 6/30/19 MCERA assumptions
Medical Trend Non-Medicare - 7.25% for 2021, decreasing to an ultimate rate
of 4.0% in 2076 and Medicare - 6.3% for 2021, decreasing to
an ultimate rate of 4.00% in 2076
Healthcare participation for future retirees Capped benefit: 90% currently covered, 70% currently waived
PEMHCA minimum - 60%
Cap Increases None
Agent Multiple Employer Defined Benefit Plan
Mortality projected fully generational with Scale MP-2019
Same as discount rate - expected City contributions projected to keep
sufficient plan assets to pay all benefits from trust
107
GENERAL FUND AND MAJOR SPECIAL REVENUE FUND
BUDGET-TO-ACTUAL STATEMENTS
Generally accepted accounting principles dictate that budget-to-actual information in the basic financial
statements should be limited to the General Fund and major Special Revenue Funds. This section is provided
for the presentation of Budget-to-Actual Statements for the General Fund, Traffic and Housing Mitigation,
and the Gas Tax Special Revenue Funds.
Budgets are adopted on a basis consistent with Generally Accepted Accounting Principles for the General
Fund and Special Revenue Funds.
109
CITY OF SAN RAFAEL
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2021
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes and special assessments $66,064,254 $76,123,191 $76,771,466 $648,275
Licenses and permits 2,644,570 2,644,570 3,000,666 356,096
Fines and forfeitures 254,895 254,895 219,030 (35,865)
Use of money and properties 189,999 189,999 156,398 (33,601)
Intergovernmental 3,560,070 4,380,070 4,819,890 439,820
Charges for services 2,381,762 2,381,762 2,789,005 407,243
Other revenue 1,165,086 1,904,086 946,294 (957,792)
Total Revenues 76,260,636 87,878,573 88,702,749 824,176
EXPENDITURES
Current:
General government 11,176,030 10,949,532 10,795,698 153,834
Public safety 44,713,943 44,695,502 44,558,789 136,713
Public works and parks 11,841,838 12,353,333 12,221,102 132,231
Community development 5,575,867 5,575,865 5,520,129 55,736
Culture and recreation 2,621,335 2,621,330 2,604,071 17,259
Capital outlay 92,776 92,776 92,776
Debt service:
Principal 2,570,692 2,570,692 2,563,711 6,981
Interest and fiscal charges 2,452,869 2,452,869 2,443,476 9,393
Total Expenditures 81,045,350 81,311,899 80,706,976 604,923
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (4,784,714) 6,566,674 7,995,773 1,429,099
OTHER FINANCING SOURCES (USES)
Transfers in 3,914,620 3,089,518 3,089,518
Transfers out (2,000,000) (4,046,072) (4,046,072)
Total Other Financing Sources (Uses) 1,914,620 (956,554) (956,554)
Net Change in Fund Balance ($2,870,094) $5,610,120 7,039,219 $1,429,099
FUND BALANCE, BEGINNING OF YEAR 9,806,680
FUND BALANCE, END OF YEAR $16,845,899
110
CITY OF SAN RAFAEL
TRAFFIC AND HOUSING MITIGATION SPECIAL REVENUE FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2021
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and properties $70,000 $70,000 $10,666 ($59,334)
Intergovernmental 1,254,954 1,254,954
Charges for services 550,000 550,000 4,575,877 4,025,877
Other revenue 23,951 23,951
Total Revenues 620,000 620,000 5,865,448 5,245,448
EXPENDITURES
Current:
General government 25,000 25,000 1,345,827 (1,320,827)
Public works and parks 400,000 527,044 255,736 271,308
Community development 750,000 750,000
Capital outlay 1,400,000 2,609,090 1,177,594 1,431,496
Total Expenditures 1,825,000 3,911,134 3,529,157 381,977
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (1,205,000) (3,291,134) 2,336,291 5,627,425
Net Change in Fund Balance ($1,205,000) ($3,291,134) 2,336,291 $5,627,425
4,221,782
FUND BALANCE, END OF YEAR $6,558,073
FUND BALANCE, BEGINNING OF YEAR
111
CITY OF SAN RAFAEL
GAS TAX SPECIAL REVENUE FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2021
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and properties $24,000 $24,000 $7,349 ($16,651)
Intergovernmental 3,987,029 3,987,029 7,703,287 3,716,258
Charges for services 1,043,600 1,043,600 1,520,508 476,908
Other revenue 180,000 180,000 216,180 36,180
Total Revenues 5,234,629 5,234,629 9,447,324 4,212,695
EXPENDITURES
Current:
General government
Public works and parks 6,880,000 8,706,479 1,846,936 6,859,543
Capital outlay 10,277,652 9,157,141 1,120,511
Total Expenditures 6,880,000 18,984,131 11,004,077 7,980,054
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (1,645,371) (13,749,502) (1,556,753) 12,192,749
OTHER FINANCING SOURCES (USES)
Transfers in 30,000 30,000
Transfers out (1,646,000) (646,000) (646,000)
Total Other Financing Sources (Uses) (1,646,000) (616,000) (616,000)
Net Change in Fund Balance ($3,291,371) ($14,365,502) (2,172,753) $12,192,749
FUND BALANCE, BEGINNING OF YEAR 6,517,607
FUND BALANCE, END OF YEAR $4,344,854
112
SUPPLEMENTARY INFORMATION
CITY OF SAN RAFAEL
ESSENTIAL FACILITIES CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2021
Variance with
Final Budget
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property $400,000 $400,000 $8,854 ($391,146)
Total Revenues 400,000 400,000 8,854 (391,146)
EXPENDITURES
Capital outlay 8,400,000 8,655,502 1,105,796 7,549,706
Total Expenditures 8,400,000 8,655,502 1,105,796 7,549,706
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (8,000,000) (8,255,502) (1,096,942) 7,158,560
OTHER FINANCING SOURCES (USES)
Transfers in 220,394 1,836,629 1,836,629
Transfers out (1,117,225) (1,117,225) (1,117,225)
Total Other Financing Sources (Uses)(896,831) 719,404 719,404
Net Change in Fund Balance ($8,896,831) ($7,536,098) (377,538) $7,158,560
FUND BALANCE, BEGINNING OF YEAR 12,474,928
FUND BALANCE, END OF YEAR $12,097,390
114
NON-MAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
Recreation Revolving Fund – Established to administer the Community Services Department’s
program and facility rental charge and accounts for the Recreation Memorial Fund.
Baypoint Lagoons Assessment District Fund – The Baypoint Lagoons Lighting and Landscape
District was formed to protect and enhance wildlife habitat and water quality in Baypoint (Spinnaker)
Lagoon and the adjacent diked salt marsh.
Household Hazmat Facility Fund – Established to account for State mandated hazardous materials
information, collection, and reporting. Expenditures include inspection of businesses for compliance
with regulations. This fund also serves as the depository for countywide Household Hazardous Waste
Program.
Childcare Fund – Established to administer and account for childcare programs at eight sites
throughout the City.
Loch Lomond #10 Community Facilities District Fund – Established to provide maintenance for
stormwater and geotechnical mitigation facilities. A Mello Roos District was formed to fund this
maintenance.
Loch Lomond Marina #2 Community Facilities District Fund – Established to report tax
assessments and maintenance expenditures of the District.
Library Fund – Established to account for restricted library activities that are intended to be self-
funding.
Library Assessment Fund – Established to account for a special parcel tax dedicated to public library
services and facilities, equipment, and technology improvements.
Public Safety Fund – Established for special police services that are intended to be self-funding.
Stormwater Fund – Established to provide for self-funding storm drain maintenance program plus
separate programs through the County and Bay Area to educate residents about urban runoff pollution.
Development Services Fund – Established to account for development activities that are supported by
external sources of funds. This fund does not account for the operating costs of building, planning, and
engineering, which are located in the General Fund.
Grants Fund – Established to account for grants for the Library, Childcare, Police and Falkirk Cultural
Center.
Parkland Dedication Fund – Established to account for long-term developer deposits used to enhance
and maintain the park structure within City limits.
Emergency Medical Services Fund – Established to account for the Emergency Medical Services and
Transportation program that provides services to all segments of the community.
Business Improvement Fund – Established to account for activities held in Downtown San Rafael.
115
NON-MAJOR GOVERNMENTAL FUNDS (Continued)
Pt. San Pedro Maintenance Portion Special Revenue Fund – Established to account for ongoing
maintenance needs within the Pt. San Pedro assessment district.
Low and Moderate Income Housing Special Revenue Fund – Established to account for the
activities related to the assets assumed by the City as Housing Successor to the San Rafael
Redevelopment Agency for the housing activities of the former Redevelopment Agency.
Measure A Open Space Special Revenue Fund – Established to account for the use of proceeds
distributed by the County of Marin from Measure A, as well as other supplementary matching or City-
funding for the operation or maintenance of open space, park or recreation lands.
Measure G – Cannabis Special Revenue Fund – Established for the purpose of reporting tax revenue
and expenditures related to Cannabis activities authorized by Measure G.
Measure C – Wildfire Prevention Special Revenue Fund – Established for the purpose of reporting tax
revenue and expenditures related to coordinated wildfire prevention activities authorized by Measure C, a
parcel tax measure approved on March 3, 2020 by a two-thirds supermajority vote. This is a ten-year
parcel tax levying up to 10 cents per building square foot tax and $75 per multifamily unit.
DEBT SERVICE FUNDS
Peacock Gap Assessment District Fund – Established to accumulate funds for the payment of
principal and interest for the 1993 Bonds which matured in 2005. The proceeds were used to refund the
1984 Bonds, which provided for the construction of public improvements in the project area.
Mariposa Assessment District Fund – Established to accumulate funds for the payment of principal
and interest for the 1993 Bond, which matured in 2008. The proceeds were used to finance the grading
and paving of Mariposa Road.
1997 Financing Authority Revenue Bonds Fund – Established to accumulate funds for the payment
of principal and interest for the 1997 Revenue Bonds which matured in 2011. The proceeds were used
to purchase the previously issued special assessment bonds.
CAPITAL PROJECTS FUNDS
Capital Improvement Fund – Established for the costs associated with major capital improvement
projects not tied to specific funds elsewhere. Improvements could include medians, parkways,
sidewalks, and other public assets.
Bedroom Tax Fund – Established to collect funds from multiple-unit housing used to pay for
maintaining and developing parks within local neighborhoods.
Assessment Districts Fund – Established to account for ongoing construction and improvement needs
within the following assessment districts: Peacock Gap, Kerner Boulevard, Sun Valley/Lucas Valley
Open Space, East San Rafael Drainage Assessment District 1.
Park Capital Projects Fund – Established to account for capital improvements for all City owned
parks, whether paid for by City funds, grants, donations, or partnership with the community.
Open Space Fund – Established for the acquisition of open space.
116
CITY OF SAN RAFAEL
NONMAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEETS
FOR THE YEAR ENDED JUNE 30, 2021
SPECIAL REVENUE FUNDS
Baypoint Loch Lomond
Lagoons Household #10
Recreation Assessment Hazmat Community
Revolving District Facility Childcare Facilities Dist.
ASSETS
Cash and investments $765,939 $199,902 $282,253 $377,300 $761,111
Restricted cash and investments
Receivables:
Accounts 147,219 429,502
Taxes 203 180
Grants 31,401
Interest
Loans
Total Assets $913,158 $200,105 $711,755 $408,701 $761,291
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $130,106 $9,736 $268,466 $40,121
Deposits payable
Developer deposits payable
Unearned revenue 369,359
Total Liabilities 499,465 9,736 268,466 40,121
Fund Balances:
Restricted 413,693 190,369 443,289 368,580 $761,291
Committed
Assigned
Total Fund Balances 413,693 190,369 443,289 368,580 761,291
Total Liabilities and Fund Balances $913,158 $200,105 $711,755 $408,701 $761,291
118
SPECIAL REVENUE FUNDS
Loch Lomond
Marina #2
Community Library Public Development
Facilities Dist. Library Assessment Safety Stormwater Services Grants
$509,019 $2,479,401 $1,033,685 $129,544 $1,266,638 $432,317 $776,137
1,339 7,364 6,292
$510,358 $2,479,401 $1,041,049 $129,544 $1,272,930 $432,317 $776,137
$1,587 $29,086 $104,065 $1,599 $12,545
126,983 8,269
3,635
1,587 29,086 104,065 132,217 20,814
$510,358 2,477,814 1,011,963 $129,544 1,168,865 300,100 755,323
510,358 2,477,814 1,011,963 129,544 1,168,865 300,100 755,323
$510,358 $2,479,401 $1,041,049 $129,544 $1,272,930 $432,317 $776,137
(Continued)
119
CITY OF SAN RAFAEL
NONMAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEETS
FOR THE YEAR ENDED JUNE 30, 2021
SPECIAL REVENUE FUNDS
Low and
Emergency Pt. San Pedro Moderate
Parkland Medical Business Maintenance Income
Dedication Services Improvement Portion Housing
ASSETS
Cash and investments $332,473 $745,153 $12,585 $125,477 $959,818
Restricted cash and investments
Receivables:
Accounts 109,219 6,558
Taxes 37,043 978
Grants
Interest 127
Loans 269,476
Total Assets $332,473 $891,415 $12,585 $126,455 $1,235,979
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $46,387 $12,585 $3,556 $12,787
Deposits payable
Developer deposits payable
Unearned revenue
Total Liabilities 46,387 12,585 3,556 12,787
Fund Balances:
Restricted $332,473 845,028 122,899 1,223,192
Committed
Assigned
Total Fund Balances 332,473 845,028 122,899 1,223,192
Total Liabilities and Fund Balances $332,473 $891,415 $12,585 $126,455 $1,235,979
120
CAPITAL
PROJECTS
SPECIAL REVENUE FUNDS DEBT SERVICE FUNDS FUND
1997
Measure C - Peacock Gap Mariposa Financing
Measure A Measure G - Wildfire Assessment Assessment Authority Capital
Open Space Cannabis Prevention District District Revenue Bonds Improvement
$351,846 $421,824 $608,685 $289,112
624,245
247,888 140,774 78,180
1,174,374
628
$599,734 $562,598 $686,865 $2,088,359
$1,229 $267,916 $262,513
9,619
1,229 267,916 272,132
598,505 $562,598 418,949
1,816,227
598,505 562,598 418,949 1,816,227
$599,734 $562,598 $686,865 $2,088,359
(Continued)
121
CITY OF SAN RAFAEL
NONMAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEETS
FOR THE YEAR ENDED JUNE 30, 2021
CAPITAL PROJECTS FUNDS
Total
Park Non-Major
Bedroom Assessment Capital Open Governmental
Tax Districts Projects Space Funds
ASSETS
Cash and investments $103,275 $223,742 $16,436 $116,842 $13,320,514
Restricted cash and investments 81,348 705,593
Receivables:
Accounts 692,498
Taxes 520,241
Grants 1,205,775
Interest 755
Loans 269,476
Total Assets $103,275 $305,090 $16,436 $116,842 $16,714,852
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $1,627 $1,205,911
Deposits payable 144,871
Developer deposits payable 3,635
Unearned revenue 369,359
Total Liabilities 1,627 1,723,776
Fund Balances:
Restricted $103,275 $305,090 13,043,198
Committed 14,809 1,831,036
Assigned $116,842 116,842
Total Fund Balances 103,275 305,090 14,809 116,842 14,991,076
Total Liabilities and Fund Balances $103,275 $305,090 $16,436 $116,842 $16,714,852
122
Baypoint Loch Lomond
Lagoons Household #10
Recreation Assessment Hazmat Community
Revolving District Facility Childcare Facilities Dist.
REVENUES
Taxes and special assessments $25,368 $22,558
Use of money and properties $17,682 407 $614 $1,345 1,558
Intergovernmental 14,293 260,808
Charges for services 522,804 178,015 2,408,851
Other revenue 6,779 9,720
Total Revenues 561,558 25,775 178,629 2,680,724 24,116
EXPENDITURES
Current:
General government
Public safety 146,796
Public works and parks 45,098 7,174
Community development
Culture and recreation 2,694,309 3,586,230
Capital outlay
Total Expenditures 2,694,309 45,098 146,796 3,586,230 7,174
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (2,132,751) (19,323) 31,833 (905,506) 16,942
OTHER FINANCING SOURCES (USES)
Transfers in 2,500,000
Transfers out (10,683)
Total Other Financing Sources (Uses) 2,500,000 (10,683)
Net Change in Fund Balances 367,249 (19,323) 31,833 (905,506) 6,259
Fund Balance, Beginning 46,444 209,692 411,456 1,274,086 755,032
Fund Balance, Ending $413,693 $190,369 $443,289 $368,580 $761,291
SPECIAL REVENUE FUNDS
CITY OF SAN RAFAEL
COMBINING STATEMENTS OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2021
124
Loch Lomond
Marina #2
Community Library Public Development
Facilities Dist. Library Assessment Safety Stormwater Services Grants
$167,402 $1,073,425
883 $5,022 1,585 $2,066 $36,061
$75,056 $500,068
1,185 834,407
23,310 10,319 1,770
168,285 29,517 1,075,010 85,375 838,243 36,061 500,068
67,144
13,827 161,975 430,449
498,183
7,543 795,268
30,663
13,827 7,543 795,268 161,975 528,846 497,593
154,458 21,974 279,742 (76,600) 309,397 36,061 2,475
85,000 8,443
(9,000)(30,000)
(9,000)85,000 (30,000)8,443
145,458 21,974 279,742 8,400 279,397 36,061 10,918
364,900 2,455,840 732,221 121,144 889,468 264,039 744,405
$510,358 $2,477,814 $1,011,963 $129,544 $1,168,865 $300,100 $755,323
(Continued)
SPECIAL REVENUE FUNDS
125
CITY OF SAN RAFAEL
COMBINING STATEMENTS OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2021
Low and
Emergency Pt. San Pedro - Moderate
Parkland Medical Business Maintenance Income
Dedication Services Improvement Portion Housing
REVENUES
Taxes and special assessments $6,425 $5,153,449 $145,778
Use of money and properties 639 286 112 $409,393
Intergovernmental 168,604
Charges for services 35,424 2,199,287
Other revenue 510,889 67,880 27,024
Total Revenues 42,488 8,032,515 213,770 436,417
EXPENDITURES
Current:
General government 106,879
Public safety 7,614,489
Public works and parks 178,372
Community development
Culture and recreation
Capital outlay
Total Expenditures 7,614,489 178,372 106,879
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 42,488 418,026 35,398 329,538
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out (299,000)
Total Other Financing Sources (Uses)(299,000)
Net Change in Fund Balances 42,488 119,026 35,398 329,538
Fund Balance, Beginning 289,985 726,002 87,501 893,654
Fund Balance, Ending $332,473 $845,028 $122,899 $1,223,192
SPECIAL REVENUE FUNDS
126
CAPITAL
PROJECTS
SPECIAL REVENUE FUNDS DEBT SERVICE FUNDS FUND
1997
Measure C - Peacock Gap Mariposa Financing
Measure A Measure G - Wildfire Assessment Assessment Authority Capital
Open Space Cannabis Prevention District District Revenue Bonds Improvement
$500,463 $628,118 $1,845,116
501 387 $3,964
2,062,789
23,239
500,964 628,118 1,868,742 2,066,753
107,033
34,460 1,403,087
58,371
9,359
4,429 35,588 2,123,855
72,159 141,493 1,438,675 2,123,855
428,805 486,625 430,067 (57,102)
($2,875) ($16,573) ($151,695)
(2,875) (16,573) (151,695)
428,805 486,625 430,067 (2,875) (16,573) (151,695) (57,102)
169,700 75,973 (11,118) 2,875 16,573 151,695 1,873,329
$598,505 $562,598 $418,949 $1,816,227
(Continued)
127
CITY OF SAN RAFAEL
COMBINING STATEMENTS OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2021
CAPITAL PROJECTS FUNDS
Total
Park Non-Major
Bedroom Assessment Capital Open Governmental
Tax Districts Projects Space Funds
REVENUES
Taxes and special assessments $8,160 $9,576,262
Use of money and properties 208 $884 $240 483,837
Intergovernmental 3,081,618
Charges for services 6,179,973
Other revenue $7,944 688,874
Total Revenues 8,368 884 7,944 240 20,010,564
EXPENDITURES
Current:
General government 4,318 285,374
Public safety 9,805,083
Public works and parks 787,198
Community development
Culture and recreation 3,959 7,096,668
Capital outlay 2,194,535
Total Expenditures 3,959 4,318 20,168,858
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 8,368 884 3,985 (4,078) (158,294)
OTHER FINANCING SOURCES (USES)
Transfers in 2,593,443
Transfers out (519,826)
Total Other Financing Sources (Uses)2,073,617
Net Change in Fund Balances 8,368 884 3,985 (4,078) 1,915,323
Fund Balance, Beginning 94,907 304,206 10,824 120,920 13,075,753
Fund Balance, Ending $103,275 $305,090 $14,809 $116,842 $14,991,076
128
CITY OF SAN RAFAEL
BUDGETED NONMAJOR GOVERNMENTAL FUNDS
COMBINING SCHEDULES OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2021
SPECIAL REVENUE FUNDS
Recreation Revolving Baypoint Lagoons Assessment District
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES
Taxes and special assessments $25,500 $25,368 ($132)
Use of money and properties $31,400 $17,682 ($13,718) 4,000 407 (3,593)
Intergovernmental 73,945 14,293 (59,652)
Charges for services 1,762,462 522,804 (1,239,658)
Other revenue 570 6,779 6,209
Total Revenues 1,868,377 561,558 (1,306,819) 29,500 25,775 (3,725)
EXPENDITURES
Current:
General government
Public safety
Public works and parks 229,278 45,098 184,180
Community development
Culture and recreation 3,869,165 2,694,309 1,174,856
Capital outlay
Total Expenditures 3,869,165 2,694,309 1,174,856 229,278 45,098 184,180
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (2,000,788) (2,132,751) (131,963) (199,778) (19,323) 180,455
OTHER FINANCING SOURCES (USES)
Transfers in 2,500,000 2,500,000
Transfers out
Total Other Financing Sources (Uses) 2,500,000 2,500,000
NET CHANGE IN FUND BALANCE $499,212 367,249 ($131,963) ($199,778) (19,323) $180,455
FUND BALANCES, BEGINNING OF YEAR 46,444 209,692
FUND BALANCES, END OF YEAR $413,693 $190,369
130
Loch Lomond #10
Household Hazmat Facility Childcare
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative)
$21,399 $22,558 $1,159
$2,000 $614 ($1,386) $20,000 $1,345 ($18,655) 12,000 1,558 (10,442)
385,799 260,808 (124,991)
178,470 178,015 (455) 4,200,000 2,408,851 (1,791,149)
9,720 9,720
180,470 178,629 (1,841) 4,605,799 2,680,724 (1,925,075) 33,399 24,116 (9,283)
176,835 146,796 30,039
10,929 7,174 3,755
4,726,946 3,586,230 1,140,716
176,835 146,796 30,039 4,726,946 3,586,230 1,140,716 10,929 7,174 3,755
3,635 31,833 28,198 (121,147) (905,506) (784,359) 22,470 16,942 (5,528)
(10,683) (10,683)
(10,683) (10,683)
$3,635 31,833 $28,198 ($121,147) (905,506) ($784,359) $11,787 6,259 ($5,528)
411,456 1,274,086 755,032
$443,289 $368,580 $761,291
(Continued)
Community Facilities District
SPECIAL REVENUE FUNDS
131
Library
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES
Taxes and special assessments $80,000 $167,402 $87,402
Use of money and properties 5,000 883 (4,117) $32,500 $5,022 ($27,478)
Intergovernmental 1,000 (1,000)
Charges for services 7,500 1,185 (6,315)
Other revenue 7,000 23,310 16,310
Total Revenues 85,000 168,285 83,285 48,000 29,517 (18,483)
EXPENDITURES
Current:
General government
Public safety
Public works and parks 172,500 13,827 158,673
Community development
Culture and recreation 40,000 7,543 32,457
Capital outlay
Total Expenditures 172,500 13,827 158,673 40,000 7,543 32,457
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (87,500) 154,458 241,958 8,000 21,974 13,974
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out (9,000) (9,000)
Total Other Financing Sources (Uses) (9,000) (9,000)
NET CHANGE IN FUND BALANCE ($96,500) 145,458 $241,958 $8,000 21,974 $13,974
FUND BALANCES, BEGINNING OF YEAR 364,900 2,455,840
FUND BALANCES, END OF YEAR $510,358 $2,477,814
Community Facilities District
SPECIAL REVENUE FUNDS
Loch Lomond Marina #2
CITY OF SAN RAFAEL
BUDGETED NONMAJOR GOVERNMENTAL FUNDS
COMBINING SCHEDULES OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2021
132
SPECIAL REVENUE FUNDS
Library Assessment Public Safety Stormwater
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative)
$1,089,591 $1,073,425 ($16,166)
2,500 1,585 (915) $4,001 $2,066 ($1,935)
$75,100 $75,056 ($44)
827,423 834,407 6,984
75,000 10,319 (64,681) 5,000 1,770 (3,230)
1,092,091 1,075,010 (17,081) 150,100 85,375 (64,725) 836,424 838,243 1,819
260,907 161,975 98,932
996,838 498,183 498,655
1,097,533 795,268 302,265
119,317 30,663 88,654
1,097,533 795,268 302,265 260,907 161,975 98,932 1,116,155 528,846 587,309
(5,442) 279,742 285,184 (110,807) (76,600) 34,207 (279,731) 309,397 589,128
85,000 85,000
(30,000) (30,000)
85,000 85,000 (30,000) (30,000)
($5,442) 279,742 $285,184 ($25,807) 8,400 $34,207 ($309,731) 279,397 $589,128
732,221 121,144 889,468
$1,011,963 $129,544 $1,168,865
(Continued)
133
Grants
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES
Taxes and special assessments
Use of money and properties $45,000 $36,061 ($8,939)
Intergovernmental $449,250 $500,068 $50,818
Charges for services
Other revenue
Total Revenues 45,000 36,061 (8,939) 449,250 500,068 50,818
EXPENDITURES
Current:
General government 120,005 67,144 52,861
Public safety 719,643 430,449 289,194
Public works and parks
Community development
Culture and recreation
Capital outlay
Total Expenditures 839,648 497,593 342,055
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 45,000 36,061 (8,939) (390,398) 2,475 392,873
OTHER FINANCING SOURCES (USES)
Transfers in 8,443 8,443
Transfers out
Total Other Financing Sources (Uses) 8,443 8,443
NET CHANGE IN FUND BALANCE $45,000 36,061 ($8,939) ($381,955) 10,918 $392,873
FUND BALANCES, BEGINNING OF YEAR 264,039 744,405
FUND BALANCES, END OF YEAR $300,100 $755,323
Development Services
FOR THE YEAR ENDED JUNE 30, 2021
SPECIAL REVENUE FUNDS
BUDGET AND ACTUAL
CITY OF SAN RAFAEL
BUDGETED NONMAJOR GOVERNMENTAL FUNDS
COMBINING SCHEDULES OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
134
Parkland Dedication Emergency Medical Services Business Improvement
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative)
$6,425 $6,425 $5,189,000 $5,153,449 ($35,551)
$5,000 639 (4,361) 2,750 286 (2,464)
140,000 168,604 28,604
35,424 35,424 2,601,000 2,199,287 (401,713)
450,000 510,889 60,889
5,000 42,488 37,488 8,382,750 8,032,515 (350,235)
8,142,999 7,614,489 528,510
100,000 100,000
100,000 100,000 8,142,999 7,614,489 528,510
(95,000) 42,488 137,488 239,751 418,026 178,275
(299,000) (299,000)
(299,000) (299,000)
($95,000) 42,488 $137,488 ($59,249) 119,026 $178,275
289,985 726,002
$332,473 $845,028
(Continued)
SPECIAL REVENUE FUNDS
135
Low and Moderate Income Housing
Variance Variance
Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES
Taxes and special assessments $145,000 $145,778 $778
Use of money and properties 112 112 $10,000 $409,393 $399,393
Intergovernmental
Charges for services
Other revenue 67,880 67,880 27,024 27,024
Total Revenues 145,000 213,770 68,770 10,000 436,417 426,417
EXPENDITURES
Current:
General government 95,000 106,879 (11,879)
Public safety
Public works and parks 168,200 178,372 (10,172)
Community development
Culture and recreation
Capital outlay
Total Expenditures 168,200 178,372 (10,172) 95,000 106,879 (11,879)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (23,200) 35,398 58,598 (85,000) 329,538 414,538
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE ($23,200) 35,398 $58,598 ($85,000) 329,538 $414,538
FUND BALANCES, BEGINNING OF YEAR 87,501 893,654
FUND BALANCES, END OF YEAR $122,899 $1,223,192
Pt. San Pedro-Maintenance Portion
SPECIAL REVENUE FUNDS
FOR THE YEAR ENDED JUNE 30, 2021
CITY OF SAN RAFAEL
BUDGETED NONMAJOR GOVERNMENTAL FUNDS
COMBINING SCHEDULES OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
136
SPECIAL REVENUE FUNDS
Measure A Open Space Measure G - Cannabis Measure C - Wildfire Prevention
Variance Variance Variance
Final Positive Final Positive Final Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative)
$365,003 $500,463 $135,460 $300,000 $628,118 $328,118 $913,226 $1,845,116 $931,890
501 501 387 387
23,239 23,239
365,504 500,964 135,460 300,000 628,118 328,118 913,226 1,868,742 955,516
269,932 107,033 162,899
30,068 34,460 (4,392) 863,226 1,403,087 (539,861)
164,760 58,371 106,389
13,477 9,359 4,118
210,003 4,429 205,574 35,588 (35,588)
388,240 72,159 316,081 300,000 141,493 158,507 863,226 1,438,675 (575,449)
(22,736) 428,805 451,541 486,625 486,625 50,000 430,067 380,067
($22,736) 428,805 $451,541 486,625 $486,625 $50,000 430,067 $380,067
169,700 75,973 (11,118)
$598,505 $562,598 $418,949
(Continued)
137
CITY OF SAN RAFAEL
BUDGETED NONMAJOR GOVERNMENTAL FUNDS
COMBINING SCHEDULES OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2021
DEBT SERVICE FUND
1997 Financing Authority Revenue Bonds
Variance
Final Positive
Budget Actual (Negative)
REVENUES
Taxes and special assessments
Use of money and properties
Intergovernmental
Charges for services
Other revenue
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Public works and parks
Community development
Culture and recreation
Capital outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out ($151,695) ($151,695)
Total Other Financing Sources (Uses) (151,695) (151,695)
NET CHANGE IN FUND BALANCE ($151,695) (151,695)
FUND BALANCES, BEGINNING OF YEAR 151,695
FUND BALANCES, END OF YEAR
138
INTERNAL SERVICE FUNDS
Internal service funds account for department services and financing performed for other departments
within the same governmental jurisdiction. Funding comes from charges assessed to the departments
benefiting from the service.
Building Maintenance Fund – Established to account for construction projects and cyclical large
dollar maintenance tasks (roof, painting) completed on City owned buildings.
Vehicle Replacement Fund – Established to provide for the replacement of vehicles.
Equipment Replacement Fund – Established to provide for the replacement of computers and
equipment.
Employee Benefits Fund – This fund is utilized for the payment of retiree benefits, unemployment
insurance, accumulated leave requirements and other negotiated benefits not tied to a specific
department.
Liability Insurance Fund – Established to maintain sufficient reserves for outstanding claims. All
costs associated with liability premiums are paid from this fund.
Workers’ Compensation Fund – Established to maintain sufficient reserves for injury claims. All
costs associated with workers compensation, including safety training, wellness programs, claim
expenses and insurance premiums are paid from this fund.
Dental Insurance Fund – Set up to maintain sufficient reserves for dental claims. All costs
associated with dental claims and administrations are paid from this fund.
Employee Retirement Fund – Established to maintain sufficient reserves to fund debt service
payments on the 2010 Taxable Pension Obligation Bonds and other pension related obligations.
OPEB/Retiree Medical Fund – Established to account for activities related to the funding,
administration and procurement of retiree medical benefits.
Radio Replacement Fund – Established to meet radio system operating costs, capital acquisition and
replacement, and operating lease obligations for the Public Works, Fire, Community Development and
Police Departments. The Marin Emergency Radio Authority (MERA) is a countywide JPA that has
taken the roll in procurement and installation of a new digital radio system. This fund supports San
Rafael's portion of the MERA efforts and related contractual obligations.
Telephone Replacement Fund – Established to provide ongoing support services for telephone
equipment and usage throughout the organization.
Sewer Maintenance Fund – Established to record both the cost of providing services to the San
Rafael Sanitation District and the charges for those services.
139
CITY OF SAN RAFAEL
INTERNAL SERVICE FUNDS
COMBINING STATEMENTS OF NET POSITION
JUNE 30, 2021
Building Vehicle Equipment Employee Liability
Maintenance Replacement Replacement Benefits Insurance
ASSETS
Current Assets:
Cash and investments $1,502,248 $3,753,231 $4,834,425 $175,096 $5,394,827
Grants receivable 19,704
Capital assets:
Nondepreciable assets 346,647
Depreciable assets, net 5,952,050 5,877,196 228,244
Total Assets 7,820,649 9,630,427 5,062,669 175,096 5,394,827
LIABILITIES
Current Liabilities:
Accounts payable 62,550 60,385 247,059 28,494 7,975
Claims payable - due in one year 1,376,677
Non-current Liabilities:
Claims payable - due in more than one year 2,664,530
Total Liabilities 62,550 60,385 247,059 28,494 4,049,182
NET POSITION:
Net investment in capital assets 6,298,697 5,877,196 228,244
Unrestricted 1,459,402 3,692,846 4,587,366 146,602 1,345,645
Total Net Position $7,758,099 $9,570,042 $4,815,610 $146,602 $1,345,645
140
OPEB/
Workers' Dental Employee Retiree Radio Telephone Sewer
Compensation Insurance Retirement Medical Replacement Replacement Maintenance Total
$9,225,981 $364,514 $2,683,430 $1,165,722 $4,365 $369,082 $75,880 $29,548,801
19,704
346,647
12,057,490
9,225,981 364,514 2,683,430 1,165,722 4,365 369,082 75,880 41,972,642
692 3,542 25,839 15,245 75,880 527,661
1,567,398 2,944,075
6,660,298 9,324,828
8,228,388 3,542 25,839 15,245 75,880 12,796,564
12,404,137
997,593 360,972 2,683,430 1,139,883 4,365 353,837 16,771,941
$997,593 $360,972 $2,683,430 $1,139,883 $4,365 $353,837 $29,176,078
141
Building Vehicle Equipment Employee Liability
Maintenance Replacement Replacement Benefits Insurance
OPERATING REVENUES
Charges for current services $1,060,248 $2,200,000 $3,953,346 $679,000 $1,764,880
Intergovernmental 19,704
Other operating revenues 5,086 3,671
Total Operating Revenues 1,079,952 2,205,086 3,957,017 679,000 1,764,880
OPERATING EXPENSES
Personnel 850,402 248,813
Insurance premiums and claims 1,180,700
Maintenance and repairs 127,521 1,130
General and administrative 55,543 1,896,374 220,001
Depreciation expense 289,221 981,783 67,777
Total Operating Expenses 472,285 982,913 1,964,151 1,070,403 1,429,513
Operating Income (Loss) 607,667 1,222,173 1,992,866 (391,403) 335,367
NONOPERATING REVENUES (EXPENSES)
Investment income 1,746 5,468 6,030 4,144 10,276
Gain from sale of capital assets 26,784
Total Nonoperating
Revenues (Expenses) 1,746 32,252 6,030 4,144 10,276
Net income (loss) before contributions
and transfers 609,413 1,254,425 1,998,896 (387,259) 345,643
TRANSFERS OUT
Change in Net Position 609,413 1,254,425 1,998,896 (387,259) 345,643
NET POSITION, BEGINNING OF YEAR 7,148,686 8,315,617 2,816,714 533,861 1,000,002
NET POSITION, END OF YEAR $7,758,099 $9,570,042 $4,815,610 $146,602 $1,345,645
CITY OF SAN RAFAEL
INTERNAL SERVICE FUNDS
COMBINING STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
FOR THE YEAR ENDED JUNE 30, 2021
142
OPEB/
Workers' Dental Employee Retiree Radio Telephone Sewer
Compensation Insurance Retirement Medical Replacement Replacement Maintenance Total
$2,258,229 $450,001 $3,207,725 $648,660 $666,761 $2,756,864 $19,645,714
19,704
916,927 402 926,086
2,258,229 450,001 4,124,652 648,660 667,163 2,756,864 20,591,504
186,838 2,648,977 3,935,030
1,690,665 369,760 3,489,548 6,730,673
22,756 151,407
1,281 $2,001 703,532 448,369 107,887 3,434,988
1,338,781
1,878,784 369,760 2,001 3,489,548 703,532 471,125 2,756,864 15,590,879
379,445 80,241 (2,001) 635,104 (54,872) 196,038 5,000,625
18,148 673 6,040 409 52,934
26,784
18,148 673 6,040 409 79,718
397,593 80,914 4,039 635,104 (54,872) 196,447 5,080,343
(682,062) (682,062)
397,593 80,914 (678,023) 635,104 (54,872) 196,447 4,398,281
600,000 280,058 3,361,453 504,779 59,237 157,390 24,777,797
$997,593 $360,972 $2,683,430 $1,139,883 $4,365 $353,837 $29,176,078
143
CITY OF SAN RAFAEL
INTERNAL SERVICE FUNDS
COMBINING STATEMENTS OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2021
Building Vehicle Equipment Employee Liability
Maintenance Replacement Replacement Benefits Insurance
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers/other funds $1,067,393 $2,202,128 $3,953,346 $679,000 $1,764,880
Cash payments to suppliers for goods and services (124,581) (1,130) (1,804,838) (301,519) (1,496,033)
Cash payments to employees for salaries and benefits (850,402) (248,813)
Other operating revenues 5,086 3,671
Cash Flows from Operating Activities 942,812 2,206,084 2,152,179 (472,921) 20,034
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Interfund payments
Cash Flows from Noncapital
Financing Activities
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Acquisition and construction of capital assets (15,122) (504,527)
Proceeds from sale of property 35,187
Cash Flows from Investing Activities (15,122) (469,340)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 1,746 5,468 6,030 4,144 10,276
Cash Flows from Investing Activities 1,746 5,468 6,030 4,144 10,276
Net increase (decrease) in cash and cash equivalents 929,436 1,742,212 2,158,209 (468,777) 30,310
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 572,812 2,011,019 2,676,216 643,873 5,364,517
CASH AND CASH EQUIVALENTS, END OF YEAR $1,502,248 $3,753,231 $4,834,425 $175,096 $5,394,827
Reconciliation of operating income (loss) to net cash
provided by operating activities:
Operating income (loss) $607,667 $1,222,173 $1,992,866 ($391,403) $335,367
Adjustments to reconcile operating income
to cash flows from operating activities:
Depreciation 289,221 981,783 67,777
Net change in assets and liabilities:
Accounts receivable (12,559) 2,128
Accounts payable 58,483 91,536 (81,518) (2,632)
Claims payable (312,701)
Net Cash Provided by (Used in) Operating Activities $942,812 $2,206,084 $2,152,179 ($472,921) $20,034
NON-CASH TRANSACTIONS:
Retirement of capital assets ($8,403)
144
OPEB/
Workers' Dental Employee Employee Radio Telephone Sewer
Compensation Insurance Retirement Retirement Replacement Replacement Maintenance Total
$2,258,229 $450,001 $3,279,300 $648,660 $666,761 $2,756,864 $19,726,562
(1,530,071) (373,394) ($2,001) (3,501,779) (703,532) (511,712) (2,813,711) (13,164,301)
(186,838)(1,286,053)
916,927 402 926,086
541,320 76,607 (2,001) 694,448 (54,872) 155,451 (56,847) 6,202,294
(682,062) (682,062)
(682,062) (682,062)
(519,649)
35,187
(484,462)
18,148 673 6,040 409 52,934
18,148 673 6,040 409 52,934
559,468 77,280 (678,023) 694,448 (54,872) 155,860 (56,847) 5,088,704
8,666,513 287,234 3,361,453 471,274 59,237 213,222 132,727 24,460,097
$9,225,981 $364,514 $2,683,430 $1,165,722 $4,365 $369,082 $75,880 $29,548,801
$379,445 $80,241 ($2,001) $635,104 ($54,872) $196,038 $5,000,625
1,338,781
71,575 61,144
548 (3,634) (12,231) (40,587) ($56,847) (46,882)
161,327 (151,374)
$541,320 $76,607 ($2,001) $694,448 ($54,872) $155,451 ($56,847) $6,202,294
($8,403)
145
Goat Grazing-wildfire tax dollars at work
STATISTICAL SECTION
STATISTICAL SECTION
This part of the City’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. In contrast to the financial section, the statistical section information is not
subject to independent audit.
Financial Trends
These schedules contain trend information to help the reader understand how the City’s financial performance and well-
being have changed over time:
1.Net Position by Component
2.Changes in Net Position
3.Fund Balances of Governmental Funds
4.Changes in Fund Balance of Governmental Funds
Revenue Capacity
These schedules contain information to help the reader assess the City’s most significant local revenue source, the
property tax:
1.Assessed and Estimated Actual Value of Taxable Property
2.Property Tax Rates, All Overlapping Governments
3.Property Tax Rates, Direct & Overlapping Governments
4.Principal Property Taxpayers
5.Property Tax Levies and Collections
Debt Capacity
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 to issue additional debt in the future:
1.Ratio of Outstanding Debt by Type
2.Computation of Direct and Overlapping Debt
3.Computation of Legal Bonded Debt Margin
4.Revenue Bond Coverage Parking Facility
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within which
the City’s financial activities take place:
1.Demographic and Economic Statistics
2.Principal Employers
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:
1.Full-Time Equivalent City Government Employees by Function
2.Operating Indicators by Function/Program
3.Capital Asset Statistics by Function/Program
Sources
Unless otherwise noted, the information in these schedules is derived from the Comprehensive Annual Financial Reports
for the relevant year.
149
CITY OF SAN RAFAEL
NET POSITION BY COMPONENT
Last Ten Fiscal Years
(accrual basis of accounting)
2012 2013 2014 2015
Governmental activities
Net investment in capital assets $192,361,245 $193,222,791 $190,286,275 $190,621,085
Restricted 24,693,205 35,780,412 37,339,141 33,389,224
Unrestricted 10,652,263 11,151,318 (196,824) (82,336,534)
Total governmental activities net position $227,706,713 $240,154,521 $227,428,592 $141,673,775
Business-type activities
Net investment in capital assets $10,650,558 $10,670,190 $10,786,591 $10,744,952
Unrestricted 2,495,889 2,501,498 2,049,957 (938,519)
Total business-type activities net position $13,146,447 $13,171,688 $12,836,548 $9,806,433
Primary government
Net investment in capital assets $203,011,803 $203,892,981 $201,072,866 $201,366,037
Restricted 24,693,205 35,780,412 37,339,141 33,389,224
Unrestricted 13,148,152 13,652,816 1,853,133 (83,275,053)
Total primary government net position $240,853,160 $253,326,209 $240,265,140 $151,480,208
(a) The City adjusted certain beginning balances during fiscal years 2013-2014, 2014-2015 and 2016-2017. Financial data
shown for proceeding years were not adjusted for the presentation.
Fiscal Year Ended June 30,
($130,000)
($80,000)
($30,000)
$20,000
$70,000
$120,000
$170,000
$220,000
$270,000
$320,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Th
o
u
s
a
n
d
s
Net investment in capital assets Restricted Unrestricted
150
2016 2017 2018 2019 2020 2021
$193,707,175 $199,202,842 $217,170,376 $231,844,210 $230,737,025 $228,252,998
31,286,725 29,225,643 25,549,583 23,288,874 23,522,748 36,175,158
(93,273,480) (112,913,181) (122,577,233) (118,215,177) (116,133,437) (107,929,957)
$131,720,420 $115,515,304 $120,142,726 $136,917,907 $138,126,336 $156,498,199
$10,958,058 $10,968,642 $10,951,518 $11,023,426 $11,104,751 $11,174,601
(1,136,050) (871,620) (886,848) (1,180,121) (1,204,307) (2,205,300)
$9,822,008 $10,097,022 $10,064,670 $9,843,305 $9,900,444 $8,969,301
$204,665,233 $210,171,484 $228,121,894 $242,867,636 $241,841,776 $239,427,599
31,286,725 29,225,643 25,549,583 23,288,874 23,522,748 36,175,158
(94,409,530) (113,784,801) (123,464,081) (119,395,298) (117,337,744) (110,135,257)
$141,542,428 $125,612,326 $130,207,396 $146,761,212 $148,026,780 $165,467,500
151
CITY OF SAN RAFAEL
CHANGES IN NET POSITION
Last Ten Fiscal Years
(Accrual Basis of Accounting)
2012 2013 2014 2015
Expenses
Governmental Activities:
General government $10,171,332 $10,202,530 $9,085,672 $9,099,858
Public safety 39,876,910 41,966,065 43,800,158 39,968,631
Public works and parks 17,423,033 17,695,164 22,125,336 16,893,164
Community development 4,587,557 3,403,158 3,451,244 3,128,373
Culture and recreation 11,020,663 11,330,058 11,846,818 11,198,151
Interest on long-term debt and fiscal charges 1,224,991 283,805 327,350 284,288
Total Governmental Activities Expenses 84,304,486 84,880,780 90,636,578 80,572,465
Business-Type Activities:
Parking services 3,446,482 3,545,387 4,125,476 4,249,597
Total Business-Type Activities Expenses 3,446,482 3,545,387 4,125,476 4,249,597
Total Primary Government Expenses $87,750,968 $88,426,167 $94,762,054 $84,822,062
Component Unit:
San Rafael Sanitation District $10,185,779 $10,169,082 $11,378,055 $11,375,239
Program Revenues
Governmental Activities:
Charges for services:
General government $1,986,791 $2,655,749 $2,838,940 $1,379,523
Public safety 7,122,396 6,478,321 6,014,034 4,966,251
Public works and parks 5,214,267 7,837,472 6,101,460 3,078,267
Community development 3,255,367 3,984,204 3,279,251 3,796,684
Culture and recreation 5,873,147 6,075,129 6,417,003 6,537,646
Operating grants and contributions 3,158,281 4,085,073 4,698,142 4,185,450
Capital grants and contributions 2,705,696 5,876,993 762,719 1,308,027
Total Government Activities Program Revenues 29,315,945 36,992,941 30,111,549 25,251,848
Business-Type Activities:
Charges for services:
Parking services 3,901,175 3,990,706 4,485,394 5,173,557
Total Business-Type Activities Program Revenues 3,901,175 3,990,706 4,485,394 5,173,557
Total Primary Government Program Revenues $33,217,120 $40,983,647 $34,596,943 $30,425,405
Component Unit:
San Rafael Sanitation District
Charges for service $12,368,889 $12,413,123 $13,732,496 $14,629,758
Operating grants and contributions
Capital grants and contributions
Total Component Unit Program Revenues $12,368,889 $12,413,123 $13,732,496 $14,629,758
Net (Expense)/Revenue
Governmental Activities ($54,988,541) ($47,887,839) ($60,525,029) ($55,320,617)
Business-Type Activities 454,693 445,319 359,918 923,960
Total Primary Government Net Expense ($54,533,848) ($47,442,520) ($60,165,111) ($54,396,657)
Component Unit Activities $2,183,110 $2,244,041 $2,354,441 $3,254,519
Fiscal Year Ended June 30,
152
2016 2017 2018 2019 2020 2021
$12,952,983 $10,996,269 $9,835,941 $11,967,641 $15,629,601 $12,254,642
55,399,798 44,366,734 53,231,197 49,899,296 50,000,809 54,736,561
22,929,289 19,845,719 22,084,433 19,270,613 21,661,442 20,749,666
4,307,269 4,242,743 4,040,195 5,781,826 5,314,692 5,804,134
15,026,680 14,131,000 13,285,563 12,819,429 11,828,353 10,619,181
277,263 271,263 884,336 1,848,263 1,974,834 1,935,532
110,893,282 93,853,728 103,361,665 101,587,068 106,409,731 106,099,716
4,762,851 4,188,152 4,627,716 5,038,553 4,491,375 3,748,667
4,762,851 4,188,152 4,627,716 5,038,553 4,491,375 3,748,667
$115,656,133 $98,041,880 $107,989,381 $106,625,621 $110,901,106 $109,848,383
$11,654,767 $11,255,194 $12,235,868 $12,601,257 $13,853,263 $13,790,905
$526,495 $421,393 $517,542 $377,606 $394,882 $388,833
4,939,658 4,264,939 5,628,478 5,304,832 5,824,555 5,332,486
5,157,289 1,804,698 2,362,375 4,158,338 3,082,495 2,719,148
4,004,178 3,850,107 3,814,892 4,312,259 5,470,010 8,390,282
6,683,059 6,941,013 6,819,303 5,750,846 4,370,442 2,932,869
4,678,338 3,965,351 5,142,670 4,584,855 5,545,731 5,132,596
1,470,953 1,702,993 974,603 8,042,524 1,348,640 8,718,764
27,459,970 22,950,494 25,259,863 32,531,260 26,036,755 33,614,978
5,212,181 5,268,991 5,203,585 5,362,016 5,063,318 3,351,864
5,212,181 5,268,991 5,203,585 5,362,016 5,063,318 3,351,864
$32,672,151 $28,219,485 $30,463,448 $37,893,276 $31,100,073 $36,966,842
$15,414,530 $16,014,016 $16,829,908 $16,964,083 $16,874,361 $16,945,721
36,945 58,440 5,907 5,719 5,609
79,245 105,734 1,433,871 175,217 277,752
$15,414,530 $16,130,206 $16,994,082 $18,403,861 $17,055,297 $17,229,082
($83,433,312) ($70,903,234) ($78,101,802) ($69,055,808) ($80,372,976) ($72,484,738)
449,330 1,080,839 575,869 323,463 571,943 (396,803)
($82,983,982) ($69,822,395) ($77,525,933) ($68,732,345) ($79,801,033) ($72,881,541)
$3,862,215 $4,875,012 $4,758,214 $5,802,604 $3,202,034 $3,438,177
153
CITY OF SAN RAFAEL
CHANGES IN NET POSITION
(continued)
Last Ten Fiscal Years
(Accrual Basis of Accounting)
2012 2013 2014 2015
General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property $20,107,637 $17,317,772 $18,439,619 $19,039,443
Sales 22,355,749 24,262,282 27,758,971 32,269,915
Special assessments
Paramedic 3,807,545 3,804,985 3,816,070 3,820,240
Motor vehicles
Transient occupancy 1,866,575 2,185,287 2,332,277 2,661,878
Franchise 3,076,094 3,331,160 3,260,958 3,272,390
Business license 2,332,146 2,507,785 2,588,728 2,670,071
Other 3,574,918 2,929,915 3,452,171 3,295,751
Investment earnings 205,413 991,762 184,171 216,066
Gain (loss) from sale of capital assets
Miscellaneous 542,816 2,580,882 1,140,743 2,254,901
Special item - Court fines repayment
Transfers 57,960 423,817 449,917 432,630
Total Government Activities 57,926,853 60,335,647 63,423,625 69,933,285
Business-Type Activities:
Investment earnings 7,675 3,739 4,375 7,008
Gain (loss) from sale of capital assets
Transfers (57,960)(423,817)(449,917)(432,630)
Total Business-Type Activities (50,285)(420,078)(445,542)(425,622)
Total Primary Government $57,876,568 $59,915,569 $62,978,083 $69,507,663
Component Unit:
San Rafael Sanitation District
Property Taxes $1,192,566 $1,177,469 $1,345,018 $1,319,852
Investment earnings 38,191 25,591 151,729 171,804
Miscellaneous
Aid from other governmental agencies 9,613 56,589 22,125 35,090
Total Component Unit $1,240,370 $1,259,649 $1,518,872 $1,526,746
Special Item
Governmental Activities $4,462,815
Component Unit Activities ($4,462,815)
Change in Net Position
Governmental Activities $2,938,312 $12,447,808 $2,898,596 $19,075,483
Business-Type Activities 404,408 25,241 (85,624) 498,338
Total Primary Government $3,342,720 $12,473,049 $2,812,972 $19,573,821
Change in Net Position
Component Unit Activities $3,423,480 $3,503,690 $3,873,313 $318,450
Fiscal Year Ended June 30,
154
2016 2017 2018 2019 2020 2021
$19,998,567 $23,343,140 $24,627,373 $25,903,240 $26,491,505 $30,993,516
34,348,089 31,819,259 34,119,502 35,626,646 33,784,770 39,599,113
4,226,020 5,485,637 4,923,148 4,934,584 4,923,092 5,153,448
3,063,263 2,984,758 3,115,151 3,203,499 2,410,745 1,797,578
3,418,277 3,610,824 3,726,841 3,627,254 4,029,050 3,973,806
2,824,664 2,774,803 2,790,212 2,788,496 2,824,722 2,575,341
3,465,193 1,824,830 2,245,882 1,783,170 2,152,617 2,996,950
300,091 210,628 556,745 1,450,434 1,907,591 388,645
26,784
1,387,315 2,448,604 5,991,713 5,904,968 2,470,926 2,813,015
448,478 536,000 632,657 608,698 586,387 538,405
73,479,957 75,038,483 82,729,224 85,830,989 81,581,405 90,856,601
14,723 10,810 24,436 63,870 71,583 4,065
(448,478)(536,000)(632,657)(608,698)(586,387)(538,405)
(433,755)(525,190)(608,221)(544,828)(514,804)(534,340)
$73,046,202 $74,513,293 $82,121,003 $85,286,161 $81,066,601 $90,322,261
$1,367,172 $1,528,047 $1,620,584 $1,727,221 $1,833,137 $1,888,197
46,225 97,090 234,379 519,793 876,369 48,614
10,690 7,768 489
$1,413,397 $1,625,137 $1,865,653 $2,254,782 $2,709,995 $1,936,811
($9,953,355) $4,135,249 $4,627,422 $16,775,181 $1,208,429 $18,371,863
15,575 555,649 (32,352)(221,365)57,139 (931,143)
($9,937,780) $4,690,898 $4,595,070 $16,553,816 $1,265,568 $17,440,720
$5,275,612 $6,500,149 $6,623,867 $8,057,386 $5,912,029 $5,374,988
155
2012 2013 2014 (b) 2015 (b)
General Fund
Nonspendable $527,509 $527,235 $503,338 $399,299
Restricted 76,188
Committed 651,121 800,876
Assigned 1,516,644 2,476,676 6,866,149 12,374,002
Unassigned 1,588,500
Total General Fund $2,771,462 $3,804,787 $7,369,487 $14,361,801
All Other Governmental Funds
Nonspendable $788,031 $51,521 $8,719 $2,359
Restricted 16,856,959 20,769,546 30,185,064 31,742,184
Committed 5,135,257 8,447,495 2,185,825 931,871
Assigned 5,283,559 6,511,850 4,959,533 712,810
Unassigned
Total all other governmental funds $28,063,806 $35,780,412 $37,339,141 $33,389,224
(a) The change in total fund balance for the General Fund and other governmental funds
is explained in Management's Discussion and Analysis.
(b)The City adjusted certain beginning balances during fiscal years 2013-2014, 2014-2015 and 2015-2016.
Financial data shown for preceding years were not adjusted for the presentation.
CITY SAN RAFAEL
FUND BALANCES OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
Fiscal Year Ended June 30,
($5,000)
$15,000
$35,000
$55,000
$75,000
$95,000
2012 2013 2014 (b) 2015 (b) 2016 (b) 2017 2018 2019 2020 2021
Th
o
u
s
a
n
d
s
Total Fund Balance
156
2016 (b)2017 2018 2019 2020 2021 (a)
$476,316 $508,446 $1,008,234 $37,271 $7,540 $377,861
8,321,000
16,440,910 14,900,945 11,214,720 11,391,084 9,799,140 7,226,153
1,772,577 1,295,041 1,104,216 920,885
$18,689,803 $16,704,432 $12,222,954 $12,532,571 $9,806,680 $16,845,899
$9,449 $302,366 $27,627 $7,813
27,552,245 $25,812,405 73,489,688 53,260,504 34,288,302 $36,043,515
3,799,421 3,491,708 1,754,983 1,901,271 1,884,153 1,831,036
119,183 115,103 115,942 118,139 120,920 116,842
(11,118)
$31,480,298 $29,419,216 $75,662,979 $55,307,541 $36,290,070 $37,991,393
157
2012 2013 2014 2015
Revenues
Taxes and special assessments $51,395,116 $51,549,306 $56,686,142 $61,804,228
Licenses and permits 1,648,890 1,929,387 1,934,755 2,456,820
Fines and forfeitures 801,758 734,005 669,553 556,076
Use of money and properties 315,561 325,043 363,089 444,757
Intergovernmental 10,537,396 11,869,889 11,953,308 13,233,503
Charges for services 19,649,433 23,575,374 19,949,333 15,346,794
Other revenue 870,957 4,092,411 2,045,407 1,777,003
Total Revenues 85,219,111 94,075,415 93,601,587 95,619,181
Expenditures
Current:
General government 8,783,873 10,529,480 8,678,833 10,203,687
Public safety 39,311,551 41,377,062 41,900,762 43,954,515
Public works and parks 11,518,822 12,002,448 13,697,957 12,758,643
Community development 3,755,504 2,961,275 3,296,375 3,416,859
Culture and recreation 10,345,673 10,591,057 11,106,367 11,616,777
Capital outlay 1,312,383 4,009,454 2,154,900 4,498,924
Capital improvement/special projects 3,604,171 5,284,720 7,168,776 2,186,986
Debt service:
Principal 2,518,320 208,642 75,172
Interest and fiscal charges 735,221 283,805 327,350 284,288
Total Expenditures 81,885,518 87,039,301 88,539,962 88,995,851
Excess (deficiency) of revenues over
(under) expenditures 3,333,593 7,036,114 5,061,625 6,623,330
Other Financing Sources (Uses)
Issuance of debt
Proceeds from PG&E loans 568,481
Transfers in 4,539,646 8,425,474 3,655,302 4,348,149
Transfers (out)(4,864,293)(6,711,657)(3,053,865)(3,051,499)
Total other financing sources (uses)(324,647)1,713,817 1,169,918 1,296,650
Extraordinary Item
Transfer to Successor Agency (2,352,584)
Net Change in fund balances $3,008,946 $6,397,347 $6,231,543 $7,919,980
Debt service as a percentage of
noncapital expenditures 4.2%0.4%0.7%0.4%
CITY OF SAN RAFAEL
CHANGES IN FUND BALANCE OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
Fiscal Year Ended June 30,
158
2016 2017 2018 2019 2020 2021
$65,866,218 $71,166,891 $74,893,789 $77,101,185 $76,410,697 $86,347,728
2,588,411 2,559,841 2,718,166 2,661,500 3,047,144 3,000,666
435,829 400,283 384,268 337,680 350,388 219,030
460,206 349,349 654,531 1,583,060 1,537,869 667,104
13,685,003 8,063,156 8,878,974 15,602,264 9,287,181 16,859,749
14,366,744 13,425,161 14,660,094 15,166,876 13,834,843 15,065,363
3,208,749 1,842,053 5,219,414 5,158,042 2,309,226 1,875,299
100,611,160 97,806,734 107,409,236 117,610,607 106,777,348 124,034,939
11,349,079 10,557,416 10,010,100 12,553,499 16,689,526 12,426,899
47,071,166 49,018,153 51,805,708 51,678,876 50,071,531 54,363,872
14,390,699 16,752,961 17,647,312 15,617,622 17,453,823 15,110,972
3,670,108 3,759,564 4,051,224 4,988,260 5,276,887 6,270,129
12,048,104 12,646,728 12,823,771 12,468,008 11,179,410 9,700,739
4,813,757 2,100,926 22,815,967 38,701,047 25,984,748 13,635,066
4,826,576 7,403,249
75,172 175,172 280,172 495,172 618,316 2,563,711
277,263 271,263 1,005,636 2,356,207 2,482,778 2,443,476
98,521,924 102,685,432 120,439,890 138,858,691 129,757,019 116,514,864
2,089,236 (4,878,698)(13,030,654)(21,248,084)(22,979,671)7,520,075
46,565,800 23,999
7,533,364 9,287,007 68,351,964 15,482,297 13,797,526 7,549,590
(6,582,555)(8,454,762)(68,373,222)(14,280,034)(12,585,216)(6,329,123)
950,809 832,245 46,544,542 1,202,263 1,236,309 1,220,467
$3,040,045 ($4,046,453)$33,513,888 ($20,045,821) ($21,743,362)$8,740,542
0.4%0.5%1.3%2.8%3.0%4.9%
159
CITY OF SAN RAFAEL
ASSESSED AND ESTIMATED ACTUAL
VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Real Property Total Real Total
Fiscal Residential Commercial Industrial Secured Unsecured Total Estimated Direct
Year Property Property Property Other Property Property Assessed (a) Full Market (a) Tax Rate (b)
2012 7,317,280,602$ 2,036,262,351$ 247,485,238$ 118,579,648$ 9,719,607,839$ 384,950,872$ 10,104,558,711$ 10,104,558,711$ 0.17827%
2013 7,265,617,525 1,987,170,644 245,917,096 115,453,836 9,614,159,101 384,534,108 9,998,693,209 9,998,693,209 0.17456%
2014 7,558,708,224 2,009,718,415 245,674,195 130,594,237 9,944,695,071 402,261,887 10,346,956,958 10,346,956,958 0.11985%
2015 7,991,224,952 2,120,065,908 249,864,918 115,675,852 10,476,831,630 417,217,272 10,894,048,902 10,894,048,902 0.11657%
2016 8,511,358,216 2,221,843,976 263,830,302 108,982,883 11,106,015,377 400,942,059 11,506,957,436 11,506,957,436 0.11672%
2017 9,025,896,811 2,390,814,514 267,468,956 135,689,202 11,819,869,483 423,545,667 12,243,415,150 12,243,415,150 0.11693%
2018 9,522,645,933 2,532,439,852 276,751,912 128,305,868 12,460,143,565 417,902,554 12,878,046,119 12,878,046,119 0.11709%
2019 10,042,494,232 2,681,917,170 285,601,803 107,472,477 13,117,485,682 409,129,431 13,526,615,113 13,526,615,113 0.11742%
2020 10,545,909,554 2,850,424,603 293,144,677 127,151,762 13,816,630,596 442,888,708 14,259,519,304 14,259,519,304 0.11724%
2021 11,011,781,157 2,956,073,592 305,080,963 143,953,920 14,416,889,632 460,690,899 14,877,580,531 14,877,580,531 0.11734%
(a)
(b)
Data Source: Marin County Assessor 2011/12 - 2020/21 Combined Tax Rolls
The State Constitution requires property to be assessed at one hundred percent of the most recent purchase price, plus an increment of no more than two percent annually, plus any local over-rides. These
values are considered to be full market values.
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.
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Mi
l
l
i
o
n
s
Unsecured Property Secured Property
160
Fiscal School Misc. Special
Year City County (1)Districts Districts Total
2012 0.154 0.295 0.7831 0.0461 1.2779 0.17827%
2013 0.154 0.295 0.7743 0.0461 1.2691 0.17456%
2014 0.154 0.295 0.7890 0.0461 1.2838 0.11985%
2015 0.154 0.295 0.7651 0.0461 1.2599 0.11657%
2016 0.154 0.295 0.7846 0.0695 1.3028 0.11672%
2017 0.154 0.295 0.8251 0.0553 1.3291 0.11693%
2018 0.154 0.295 0.8127 0.0661 1.3275 0.11709%
2019 0.154 0.295 0.8495 0.0650 1.3635 0.11742%
2020 0.154 0.295 0.8289 0.0635 1.3414 0.11724%
2021 0.154 0.295 0.8246 0.0678 1.3414 0.11734%
Notes:
(1) Like other cities, San Rafael includes several property tax rate areas with different rates. A mean average is indicated.
Data Source: Marin County Assessors Office 2011/12 - 2020/21 Tax Rate Tables
CITY OF SAN RAFAEL
PROPERTY TAX RATES
ALL OVERLAPPING GOVERNMENTS
LAST TEN FISCAL YEARS
Total
Direct Rate
161
2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21
Basic Levy (1)1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000
Dixie School Bonds 0.01840 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000
Marin Community College Bonds 0.01750 0.01780 0.02040 0.01800 0.01650 0.01420 0.03380 0.03390 0.02690 0.02650
Marin Healthcare Bond 0.00000 0.00000 0.00000 0.00000 0.02350 0.00930 0.02010 0.01900 0.01750 0.02180
Miller Creek School Bonds 0.00000 0.01540 0.01500 0.01470 0.04170 0.03830 0.02090 0.03450 0.03280 0.03030
Ross Elementary School 0.06550 0.06640 0.06570 0.06030 0.06150 0.06030 0.06190 0.06180 0.05710 0.05800
Ross Valley School Bonds 0.06130 0.06110 0.05960 0.05700 0.05550 0.05370 0.05680 0.05390 0.05270 0.05190
San Rafael Elementary Bonds 0.04740 0.02170 0.03320 0.02620 0.02570 0.05350 0.05030 0.07290 0.07050 0.06950
San Rafael High Bonds 0.02680 0.04960 0.05130 0.04850 0.04710 0.07100 0.05680 0.06170 0.06000 0.05830
Tamalpais Union High School 0.04100 0.03710 0.03860 0.03520 0.03130 0.02880 0.02690 0.02580 0.02390 0.02260
Total Direct & Overlapping Tax Rates 1.27790 1.26910 1.28380 1.25990 1.30280 1.32910 1.32750 1.36350 1.34140 1.33890
City's Share of 1% Levy Per Prop 13 0.12311 0.12313 0.12306 0.12233 0.12233 0.12233 0.12233 0.12232 0.12232 0.12231
Total Direct Rate 0.17827 0.17456 0.11985 0.11657 0.11672 0.11693 0.11709 0.11742 0.11724 0.11734
Notes:
Data Source: Marin County Assessors Office 2011/12 - 2020/21 Tax Rate Tables
CITY OF SAN RAFAEL
PROPERTY TAX RATES
DIRECT & OVERLAPPING GOVERNMENTS
LAST TEN FISCAL YEARS (RATE PER $100 OF ASSESSED VALUE)
(1) In 1978, California voters passed Proposition 13 which set the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject
property resides within. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of any voter
approved bonds.
162
CITY OF SAN RAFAEL
PRINCIPAL PROPERTY TAX PAYERS
CURRENT FY 2020/21 AND FY 2011/2012
Percentage Percentage
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Value Value Value
California Corporate Center ACQ LLC 287,573,990$ 1.99%
MGP XI Northgate LLC 231,346,654 1.56%
Professional Financial Investors Inc 160,767,462 1.12%
BRE Properties Inc 66,209,344 0.46%
South Valley Apartments LLC 56,285,166 0.39%
Nort Bay 4040 TT LLC 53,672,399 0.37%
Kaiser 51,186,581 0.34%
Regency Center II Associates LP 49,995,939 0.35% 41,904,940$ 0.41%
Northbay Properties II 48,724,358 0.34% 41,269,164 0.41%
Pur San Rafael LLC 46,243,829 0.32%
Bay Apartment Communities Inc 35,800,438 0.35%
Northgate Mall Associates 128,055,911 1.27%
SR Corporation Center Phase 1 79,314,980 0.78%
SR Corporation Center Phase 2 71,241,415 0.71%
Sutter Health 48,659,081 0.48%
Robert Dickson Trust 44,303,303 0.44%
County of Marin 42,050,428 0.42%
Marin Sanitary Service 38,636,950 0.38%
Subtotal 1,052,005,722$ 7.07% 571,236,610$ 5.65%
Total Net Assessed Valuation:
Fiscal Year 2020-2021 14,877,580,531$
Fiscal Year 2011-2012 10,104,558,711$
FY 2020-2021 FY 2011-2012
163
Delinquent taxes
Fiscal as a Percent of
Year Rate Levies Allocations Collections Apportionments Delinquencies Allocations
2012 1.00 (2)20,704,368$ (2)20,704,368$ (2)0.0%
2013 1.00 (2)20,883,041 (2)20,883,041 (2)0.0%
2014 1.00 (2)22,001,357 (2)22,001,357 (2)0.0%
2015 1.00 (2)22,376,457 (2)22,376,457 (2)0.0%
2016 1.00 (2)23,636,093 (2)23,636,093 (2)0.0%
2017 1.00 (2)25,173,651 (2)25,173,651 (2)0.0%
2018 1.00 (2)26,088,961 (2)26,088,961 (2)0.0%
2019 1.00 (2)27,718,712 (2)27,718,712 (2)0.0%
2020 1.00 (2)28,709,606 (2)28,709,606 (2)0.0%
2021 1.00 (2)29,762,184 (2)29,762,184 (2)0.0%
Notes:
(1) Includes deductions for County property tax administration.
(2) Information not applicable. All general purpose property taxes are levied by the county and allocated
to other governmental entities.
CITY OF SAN RAFAEL
PROPERTY TAX LEVIES AND COLLECTIONS (1)
LAST TEN FISCAL YEARS
$6
$9
$12
$16
$19
$22
$25
$28
$31
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Mi
l
l
i
o
n
s
Allocations Apportionments
164
CITY OF SAN RAFAEL
RATIO OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
Pension Lease
Fiscal Note Obligation Revenue
Year Payable Bonds Bonds Total
2012 169,000$ 4,490,000$ 4,659,000$
2013 169,000 4,490,000 4,659,000
2014 528,839 4,490,000 5,018,839
2015 453,667 4,490,000 4,943,667
2016 378,495 4,490,000 4,868,495
2017 303,323 4,390,000 4,693,323
2018 1,308,951 4,185,000 53,612,097$ 59,106,048
2019 1,233,779 3,765,000 53,104,153 58,102,932
2020 1,084,462 3,320,000 52,596,209 57,000,671
2021 905,751 2,845,000 50,178,265 53,929,016
Parking Total Percentage
Fiscal Services Note Primary of Personal Per
Year Bonds Payable Total Government Income (a) Capita (a)
2012 6,445,000$ 6,445,000$ 11,104,000$ 0.46% 190.45
2013 6,445,000 6,445,000 11,104,000 0.44% 190.85
2014 6,186,403 61,836$6,248,239 11,267,078 0.43%192.38
2015 5,942,128 55,020 5,997,148 10,940,815 0.41% 184.77
2016 5,692,853 48,204 5,741,057 10,609,552 0.38% 175.13
2017 5,433,577 41,388 5,474,965 10,168,288 0.35% 167.13
2018 5,164,303 34,572 5,198,875 64,304,923 2.04% 1,060.25
2019 4,890,027 27,755 4,917,782 63,020,714 2.00% 1,049.54
2020 4,605,753 20,939 4,626,692 61,627,363 1.87% 1,030.44
2021 4,316,478 14,123 4,330,601 58,259,617 n/a 987.18
In August 2012, the series 2003 parking services bonds were refunded with series 2012 refunding bonds.
Data Sources:City of San Rafael
State of California, Department of Finance (population)
U.S. Department of commerce, Bureau of the Census (income)
(a) See Schedule of Demographic and Economic Statistics for personal income and population data.
Governmental Activities
Business-Type Activities
$-
$10
$20
$30
$40
$50
$60
$70
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Mi
l
l
i
o
n
s
Total Governmental
Total Business
165
CITY OF SAN RAFAEL
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
June 30, 2021
2020-21 Assessed Valuation:14,877,580,531$
Total Debt City's Share of
OVERLAPPING TAX AND ASSESSMENT DEBT:6/30/2021 % Applicable (1) Debt 6/30/2021
Marin Community College District 450,805,000$ 17.259% 77,804,435$
San Rafael High School District 170,443,727 78.341% 133,527,320
Tamalpais Union High School District 93,045,000 0.064%59,549
Miller Creek School District (Formerly Dixie School District)29,095,810 66.779% 19,429,891
Ross School District 16,511,647 1.245% 205,570
Ross Valley School District 39,586,751 0.011%4,355
San Rafael School District 129,726,453 83.457% 108,265,806
Marin Healthcare District 365,855,000 20.670% 75,622,229
Marin Emergency Radio Authority Parcel Tax Obligations 29,715,000 17.233% 5,120,786
City of San Rafael 1915 Act Bonds 1,239,200 100.000% 1,239,200
TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 421,279,141$
DIRECT AND OVERLAPPING GENERAL FUND DEBT:
Marin County Certificates of Participation 79,636,865$ 17.233% 13,723,821$
Marin County Pension Obligation Bonds 70,500,000 17.233% 12,149,265
Marin County Transit District General Fund Obligations 24,072 17.233%4,148
Marin Municipal Water District General Fund Obligations 19,584 21.921%4,293
Marin Community College District Certification of Participation 12,540,834 17.259% 2,164,423
San Rafael School District Certificates of Participation 2,855,000 83.457% 2,382,697
City of San Rafael General Fund Obligations 55,414,617 100.000% 55,414,617 (2)
City of San Rafael Pension Obligations 2,845,000 100.000% 2,845,000
TOTAL DIRECT AND OVERLAPPING GENERAL FUND DEBT 88,688,264
Less: City of San Rafael lease revenue bonds supported by parking revenues 4,316,478
TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT 84,371,786$
OVERLAPPING TAX INCREMENT DEBT (Successor Agency)4,450,264$ 100.000% 4,450,264$
TOTAL GROSS DIRECT DEBT 58,259,617
TOTAL NET DIRECT DEBT 53,943,139
TOTAL OVERLAPPING DEBT 456,158,052
GROSS COMBINED TOTAL DEBT 514,417,669 (3)
NET COMBINED TOTAL DEBT 510,101,191
(2) Includes $905,751 PG&E notes.
Ratios to 2020-21 Assessed Valuation:
Total Overlapping Tax and Assessment Debt 2.83%
Total Gross Direct Debt ($58,259,617)0.39%
Total Net Direct Debt ($53,943,139)0.36%
Gross Combined Total Debt 3.46%
Net Combined Total Debt 3.43%
Ratios to Redevelopment Incremental Valuation ($3,231,506,699)
Total Overlapping Tax Increment Debt 0.14%
Data Source: Avenu Insights & Analytics, California Municipal Statistics, Inc.
(1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable
percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries
of the city divided by the district's total taxable assessed value.
(3) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease
166
ASSESSED VALUATION:14,877,580,531$
BONDED DEBT LIMIT (3.75% OF ASSESSED VALUE) (a)557,909,270
LESS AMOUNT OF DEBT SUBJECT TO LIMIT:53,929,016
LEGAL BONDED DEBT MARGIN 503,980,254$
Total net debt
Total Net Debt Legal applicable to the limit
Fiscal Debt Applicable to Debt as a percentage
Year Limit Limit Margin of debt limit
2012 378,920,952$ 4,659,000$ 374,261,952$ 1.24%
2013 374,950,995 4,659,000 370,291,995 1.26%
2014 388,010,886 5,018,839 382,992,047 1.31%
2015 408,526,834 4,943,667 403,583,167 1.22%
2016 431,510,904 4,868,495 426,642,409 1.14%
2017 459,128,068 4,693,323 454,434,745 1.03%
2018 482,926,729 59,106,048 423,820,681 13.95%
2019 507,248,067 58,102,932 449,145,135 12.94%
2020 534,731,974 57,000,671 477,731,303 11.93%
2021 557,909,270 53,929,016 503,980,254 10.70%
NOTE: (a)
Source: City of San Rafael's Finance Department
CITY OF SAN RAFAEL
COMPUTATION OF LEGAL BONDED DEBT MARGIN
June 30, 2021
California Government Code, Section 43605 sets the debt limit at 15%. The Code section was enacted prior to
the change in basing assessed value to full market value when it was previously 25% of market value. Thus,
the limit shown as 3.75% is one-fourth of that value.
167
CITY OF SAN RAFAEL
REVENUE BOND COVERAGE
PARKING FACILITY
LAST TEN FISCAL YEARS
Debt Service Requirements
Net Revenue
Fiscal Gross Operating Available for
Year Revenue (1) Expenses (2) Debt Service Principal Interest Total Coverage
2012 3,908,664$ 2,870,718$ 1,037,946$ 185,000$ 312,291$ 497,291$ 2.09
2013 3,994,446 3,121,964 872,481 310,000 240,012 550,012 1.59
2014 4,489,769 3,716,552 773,217 245,000 210,063 455,063 1.70
2015 5,180,554 4,031,161 1,149,393 245,000 205,163 450,163 2.55
2016 5,226,904 3,739,321 1,487,583 250,000 199,613 449,613 3.31
2017 5,279,801 2,425,281 2,854,520 260,000 192,038 452,038 6.31
2018 5,219,721 4,320,695 899,026 270,000 184,163 454,163 1.98
2019 5,425,883 4,283,754 1,142,130 275,000 176,025 451,025 2.53
2020 5,134,901 4,072,433 1,062,468 284,999 167,700 452,699 2.35
2021 3,355,929 3,332,327 23,602 290,000 161,288 451,288 0.05
Notes: On March 26, 2003, the City Financing Authority issued lease revenue bonds for the design and construction of a new parking facility.
On August 12, 2012, the City Financing Authority refunded the series 2003 lease revenue bonds with series 2012 lease
revenue refunding bonds to take advantage of lower interest rates.
(1) Includes all Parking Facility Operating Revenues and Non-operating Interest Revenue
(2) Includes all Parking Facility Operating Expenses less Depreciation and Interest
Data Source: San Rafael Finance Department Revenue and Expenditure Status Reports
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Coverage
168
CITY OF SAN RAFAEL
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
Personal Per Capita Average Marin City
Fiscal City
Income (2)Personal Unemployment County Population
Year Population (1)(in thousands)Income (2) Rate (3)Population % of County
2012 58,305 2,438,291$ 41,908$ 5.50% 254,790 22.88%
2013 58,182 2,538,895 43,351 4.70% 254,007 22.91%
2014 58,566 2,621,228 44,531 4.50% 255,846 22.89%
2015 59,214 2,699,436 44,558 3.70% 258,972 22.87%
2016 60,582 2,817,497 46,308 3.40% 262,274 23.10%
2017 60,842 2,943,227 48,374 3.30% 263,604 23.08%
2018 60,651 3,152,985 52,509 2.30% 263,886 22.98%
2019 60,046 3,156,708 52,781 2.20% 262,879 22.84%
2020 59,807 3,301,286 55,938 6.70% 260,831 22.93%
2021 59,016 n/a n/a n/a 257,774 22.89%
Source: (1) State of California, Department of Finance - Demographic Research Unit. The data represents the City's population as of
January 1, of each year.
(2) US Census Bureau, most recent American Community Survey
(3) Unemployment Data: California Employment Development Department
0.00%
2.50%
5.00%
7.50%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Unemployment Rate (%)
22.00%
22.50%
23.00%
23.50%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
City Population as a % of County
Population
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
Personal Income (2) (in
thousands)
$30
$35
$40
$45
$50
$55
$60
Th
o
u
s
a
n
d
s
Per Capita Personal
Income (2)
169
CITY OF SAN RAFAEL
PRINCIPAL EMPLOYERS
FISCAL YEAR 2020-2021
LAST TEN CALENDAR YEARS
Employer # (A) # (A) # (A) # (A)
Kaiser Permanente 2,059 1.64% 2,014 6.22% 2,092 6.62% 2,061 6.52%
BioMarin Pharmaceutical Inc. 0.00% 950 2.93%
San Rafael Elementary/High Schools Dist(s) 700 0.56% 700 2.16% 700 2.22% 700 2.22%
City of San Rafael 405 0.32% 410 1.27% 410 1.30% 454 1.44%
Dominican University of California 394 0.31% 421 1.30% 319 1.01% 456 1.44%
Buckelew Programs 0.00% 103 0.32% 106 0.34% 240 0.76%
Lifehouse 0.00% 100 0.31%
EO Products 108 0.09% 150 0.46%
Toyota Marin 0.00% 141 0.44%
Ghilotti Bros., Inc. 298 0.24%
Community Action Marin 270 0.21%
Equator Coffees, LLC 88 0.07%
Totals 4,322 3.44% 4,989 15.40% 4,508 14.27% 5,650 17.88%
#Number of FTE employees in Marin locations
(A)Percentage of total employment
2020 2019 20172018
Note: From the EDD website, it shows that the Total 2020 Employment in the City of San Rafael was 125,600 of which it is used as the denominator
for the 2020 percentages are calculated.
Data Sources: State of California, Employment Development Department, Labor Market Information Division & North Bay Business Journal (Annual Book of
Lists)
170
# (A) # (A) # (A) # (A) # (A) # (A)
662 2.02% 1,575 4.82% 1,637 5.26% 1,756 5.74% 1,803 6.68% 1,330 4.93%
650 1.98% 650 1.99% 600 1.93% 600 1.96% 600 2.22% 600 2.22%
577 1.76% 581 1.78% 666 2.14% 643 2.10% 521 1.93% 592 2.19%
485 1.48% 422 1.29% 354 1.14% 347 1.13% 346 1.28% 336 1.24%
186 0.57%
5,314 16.20% 5,620 17.19% 6,025 19.37% 6,079 19.87% 6,715 24.87% 6,007 22.25%
20152016 2014 2013 2012 2011
171
CITY OF SAN RAFAEL
FULL-TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION
LAST TEN FISCAL YEARS
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Function
General Government 55.23 53.23 55.11 58.11 60.61 62.11 60.11 63.11 62.11 61.41
Public Safety 162.00 163.00 168.00 171.75 175.75 176.55 175.35 175.65 175.30 181.50
Public Works and Parks 62.00 60.00 61.00 62.00 62.00 63.00 66.67 66.00 68.00 69.00
Community Development 18.25 18.25 17.80 17.80 19.80 20.00 21.00 22.00 21.75 21.75
Culture and Recreation 81.56 80.76 83.66 84.23 84.25 84.35 87.35 85.82 78.07 78.07
Total 379.04 375.24 385.57 393.89 402.41 406.01 410.48 412.58 405.23 411.73
Data Source: City of San Rafael's Finance Department
0
50
100
150
200
250
300
350
400
450
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
FT
E
'
s
General Government Public Safety Public Works and Parks Community Development Culture and Recreation
173
CITY OF SAN RAFAEL
OPERATING INDICATORS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
2012 2013 2014 2015
Function/Program
Public safety:
Fire:
Inspection permit issued 282 307 261 282
Police:
Police calls for service 39,537 42,707 51,261 55,805
Law violations:
Part I crimes 2,101 2,523 2,289 2,533
Physical arrests (adult and juvenile) 2,981 2,951 3,227 3,450
Traffic violations 4,048 3,448 4,498 4,168
Parking violations 32,492 30,881 38,814 36,398
Public works
Street resurfacing (miles) (Eng Div) N/A 2.70 9.00 6.40
Potholes repaired N/A N/A N/A N/A
Asphalt used for street repairs (tons) 178.9 7,500 10,700 11,000
Culture and recreation:
Recreation class participants 12,075 7,082 9,857 10,023
Recreation Facility Rentals
Childcare School-Age program participants
Library:
Items in collection 159,180 125,920 168,620 127,763
Total items borrowed 366,460 392,230 478,960 443,639
Note: N/A denotes information not available.
174
2016 2017 2018 2019 2020 2021
198 233 186 123 167 207
57,026 53,567 51,013 47,919 47,968 43,649
2,523 2,392 2,326 1,893 2,988 2,546
3,453 2,526 2,019 1,923 2,527 1,893
3,252 3,341 2,758 2,944 2,342 2,161
34,803 36,169 36,208 40,407 28,029 24,099
6.76 2.32 2.50 4.30 14.30 5.00
N/A N/A N/A N/A 967 1,368
7,195 5,800 4,730 7,200 5,885 3,650
12,725 13,493 12,842 N/A N/A N/A
5,146 3,875 1,550
7,592 6,270 2,132
227,890 117,354 115,812 123,432 140,610 103,399
469,790 327,297 324,452 356,301 199,903 113,385
175
CITY OF SAN RAFAEL
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
2012 2013 2014 2015
Function/Program
Public safety:
Fire stations 6666
Police stations 1111
Police Fleet
Public works
Miles of streets 173 173 173 173
Street lights 4,435 4,435 4,435 4,435
Parking District lights
Traffic Signals 89 89 89 89
Culture and recreation:
Community services:
City parks 20 20 20 20
City parks acreage 42424242
Playgrounds 14 14 14 14
City trails 20 20 20 20
Community gardens 1111
Cultural Art Centers
Community centers 4444
Senior centers 0000
Sports centers 0000
Performing arts centers 0000
Swimming pools 1111
Tennis courts 10 10 10 10
Basketball Courts 5555
Baseball/softball diamonds 5555
Soccer/football fields 2222
Library:
City Libraries 2222
Wastewater:
Miles of sanitary sewers 179 179 145 145
Data Source: City of San Rafael's Finance Department
176
2016 2017 2018 2019 2020 2021
666666
111111
173 173 173 173 173 173
4,435 4,435 4,435 4,435 4,435 4,435
89 89 89 89 90 90
20 20 20 20 24 24
42 42 42 42 99 99
14 14 14 14 14 14
20 20 20 20 20 20
111122
11
444433
000000
000000
000000
111111
10 10 10 10 10 10
555566
555555
222222
222222
145 145 145 145 145 145
177