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File Number: 22-033 million. As of June 30, 2021, the City’s net pension liability was $204.1 million and the net OPEB liability was $2.8 million. ·The City’s governmental fund balance increased by $6.3 million for an ending fund balance of $135.3 million. Of this balance, $8.1 million is not spendable because the funds are not available due to advances and loans to other funds. A total of $54.4 million is Restricted due to the constraints placed on the use of resources, such as capital projects and debt service payments. $9.5 million is Assigned, which are General Fund encumbrances from the prior year, a one-time licensing fee set aside for projects, and a reserve to fund anticipated Other Post-Employment Benefit costs resulting from the City’s contract for fire protection services with Alameda County. Lastly, $63.3 million is Unassigned and available for spending. ·The General Fund ended the fiscal year with revenues above final budget projections by 7.3% or $8.6 million, excluding interfund transfers and one-time revenue from the sale of City property. The increase was largely due to improved sales tax and real property transfer tax revenues. Sales tax revenue increased by $4.9 million after declining in 2019- 2020 reflecting the beginning months of COVID-19. Revenues rose as the recovery occurred more quickly, businesses delaying payments caught-up more quickly, and several sales tax categories realized extraordinary growth. Real property transfer tax revenue increased by $5.8 million in 2020-21. Some of the variance stems from the voter approved tax rate increase impacting the last half of the year. In addition, an unprecedented number of high value commercial and industrial properties sold in 2020- 2021. It should be noted that total General Fund revenues, including other financing sources, reflect $4.9 million in interfund transfer from the Capital Projects Fund and $1.2 million in one-time revenue from the sale of property. General Fund expenditures were 6.4% or $7.4 million below final budget projections, excluding $3.5 million in transfers out to other funds. A portion of the unspent budget balance represents open purchase orders and deferred purchases that will incur in future fiscal years. As shelter-in-place orders were extended, City programs and activities remained closed, and some programs were deferred. The unspent balance also reflects $1.7 million that was set aside for police budget reallocation. The City achieved positive financial results by extraordinary growth in sales tax and property transfer tax revenues, and early imposition of strategies to control costs considering the COVID-19 pandemic. ·The City's business-type/enterprise activities include the Water Pollution Control Plant, Shoreline, Storm Water Utility, and Environmental Services. The total net position for all four of these funds was $65.6 million at fiscal year end June 30, 2021, an increase of $7.1 million over the prior fiscal year. The increase mainly attributed to one-time sewer connection fees and the increase in golf course revenue. Auditors’ Communication with Those Charged with Governance Professional auditing standards require the auditors to communicate in writing to management and those charged with governance. Maze and Associates has issued the Page 3 City of San Leandro Printed on 1/14/2022 239