Measure H & L Sales Tax Committee Meeting

CITY OF PLACERVILLE MEASURES H/L SALES TAX COMMITTEE MEETING AGENDA MONDAY, JUNE 3, 2024 OPEN SESSION: 6:00 PM TOWN HALL SMALL UPSTAIRS ROOM 549 MAIN STREET, PLACERVILLE, CA 95667 2024 Susan Rodman, Chairperson Garry Silvey, Vice-Chairperson Elizabeth Zangari, Secretary Thomas Cumpston, Committee Member Mickey Kaiserman, Committee Member Ryan Carter, Alternate Committee Member Advance Correspondence/Written Comments: You may submit your comments by e-mail to the Staff Liaison at dwarren@cityofplacerville.org, or you may submit your comments in-person at the Finance Department, City Hall – 1st Floor, 3101 Center Street by 2:00 p.m. the day before the meeting to give the Staff Liaison adequate time to forward your comments to the Committee. Please be aware that, while these comments will be provided to the members of the Committee and will become part of the public record, they will not be read aloud at the time of the meeting. Comments must not be slanderous and must relate to the business within the jurisdiction of the Committee. All written communication will be kept on file in the Finance Department. ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 1 Visit us on “The Web” at www.cityofplacerville.org 6:00 P.M. OPEN SESSION 1. CALL TO ORDER AND PLEDGE OF ALLEGANCE TO THE FLAG: 2. ROLL CALL: Carter, Cumpston, Kaiserman, Rodman, Silvey, Zangari 3. ADOPTION OF AGENDA: 4. ELECTION OF OFFICERS: 4.1 Nominations for Chairperson At this time, the Staff Liaison will request nominations from the Committee for the election of Chairperson. Any Committee Member may make a nomination, and a second. A voice vote will be taken. Following a majority vote by the Committee, the elected Chairperson will call for nominations for Vice-Chairperson. 4.2 The Chairperson Calls for Nominations for Vice-Chairperson The newly elected Chairperson will call for a motion and a second to nominate candidate(s) within the Committee for the position of Vice- Chairperson. Following a majority vote by the Committee, the elected Chairperson will call for nominations for Secretary. 4.3 The Chairperson Calls for Nominations for Secretary The newly elected Chairperson will call for a motion and a second to nominate candidate(s) within the Committee for the position of Secretary. Following a majority vote for the election of Secretary, the regular order of business will resume. 5. PUBLIC COMMENT - BRIEF – NON-AGENDA ITEMS: 5.1 Written Communication 5.2 Oral Communication ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 2 Visit us on “The Web” at www.cityofplacerville.org 6. MINUTES OF THE MEASURES H/L SALES TAX COMMITTEE MEETING OF APRIL 15, 2024 (Mr. Warren): Recommendation by the Staff Liaison that the Measures H/L Sales Tax Committee approve the minutes of the Committee meeting held April 15, 2024. 7. APPOINMENT OF MELISSA MCCONNEL AS CITY ENGINEER (Mr. Warren): The Staff Liaison will provide an update on the recent appointment of Melissa McConnell as City Engineer. 8. STREETS, SEWER SYSTEM, AND WATER SYSTEM CAPITAL IMPROVEMENT PROGRAM PROJECT HIGHLIGHTS (Ms. McConnell): The Interim City Engineer will present a brief update on the major street, sewer system, and water system Capital Improvement Program (CIP) projects funded by the Measure H and/or Measure L sales taxes. 9. CLEAN WATER MAGAZINE’S ARTICLE ABOUT THE CITY OF PLACERVILLE’S 1938 PWA WASTEWATER PROJECT (PART 1 Mr. Warren): A copy of the Clean Water Magazine’s article about the City of Placerville’s 1938 PWA Wastewater Project is included in the agenda packet for informational purposes only. 10. FUTURE MEASURES H/L SALES TAX COMMITTEE MEETING DAY PREFERENCE(S) (Mr. Warren): The Staff Liaison requests feedback from the Measures H/L Sales Tax Committee on the preferred meeting day(s) of the month for future Committee meetings. 11. MEASURE H FUND QUARTERLY FINANCIAL REPORT AS OF MARCH 31, 2024 (Mr. Warren): Recommendation by the Staff Liaison that the Measures H/L Sales Tax Committee acknowledge and file the Measure H Fund financial report for the quarter ended March 31, 2024. ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 3 Visit us on “The Web” at www.cityofplacerville.org 12. FORECASTED MEASURE H SALES TAX REVENUES AND FUND BALANCE FOR FISCAL YEARS 2023/2024 AND 2024/2025 (Mr. Warren): The Staff Liaison will review the forecasted Measure H Sales Tax revenues and fund balance analysis for Fiscal Years 2023/2024 and 2024/2025. 13. MEASURE L FUND QUARTERLY FINANCIAL REPORT AS OF MARCH 31, 2024 (Ms. Tornincasa): Recommendation by the Assistant Finance Director that the Measures H/L Sales Tax Committee acknowledge and file the Measure L Fund financial report for the quarter ended March 31, 2024. 14. FORECASTED MEASURE L SALES TAX REVENUES AND FUND BALANCE FOR FISCAL YEARS 2023/2024 AND 2024/2025 (Ms. Tornincasa): The Assistant Finance Director will review the forecasted Measure L Sales Tax revenues and fund balance analysis for Fiscal Years 2023/2024 and 2024/2025. 15. HDL CALIFORNIA FORECAST SALES TAX TRENDS & ECONOMIC DRIVERS REPORT AS OF APRIL 2024 (Mr. Warren): A copy of the HDL California Forecast Sales Tax Trends & Economic Drivers report as of April 2024 is included in the agenda packet for informational purposes only. 16. PROPOSED FISCAL YEAR 2024/2025 MEASURE H FUND AND MEASURE L FUND CAPITAL IMPROVEMENT PROGRAM BUDGETS (Ms. McConnell): Recommendation by the City Engineer that the Measures H/L Sales Tax Committee approve a recommendation to the City Council to approve the proposed Measure H Fund Capital Improvement Program Budget in the amount of $1,806,507 and the proposed Measure L Fund Capital Improvement Program Budget in the amount of $2,847,766 for Fiscal Year 2024/2025 as presented. ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 4 Visit us on “The Web” at www.cityofplacerville.org 17. WATER AND WASTEWATER COST OF SERVICE STUDY STATUS UPDATE (Mr. Warren): The Staff Liaison will provide a status update on the current water and wastewater cost of service study and receive input from the Committee. 18. UPCOMING ITEMS: Items tentatively scheduled for the next Committee meeting include: The Street, Sewer System, and Water System Capital Improvement Program project highlights, water and wastewater cost of service study update, and the 2023 Water Usage Report. 19. REQUESTS FOR FUTURE AGENDA ITEMS (Mr. Warren): 20. NEXT MEETING: Monday, August 19, 2024 at 6:00 PM. 21. ADJOURNMENT: Pursuant to the Executive Order, and in compliance with the Americans with Disabilities Act, if you need special assistance to participate in the Committee meeting, please contact the Staff Liaison’s Office (530) 642-5223 within 48 hours of the meeting. Government Code 54950 (The Brown Act) requires that a brief description of each item to be transacted or discussed be posted at least 72 hours prior to a regular meeting. The City posts the Agenda on the City Hall window and on the City’s website: www.cityofplacerville.org. _____________________________________________________________ CERTIFICATION OF AGENDA POSTING I, David R. Warren, Staff Liaison/Assistant City Manager/Director of Finance of the City of Placerville, declare that the foregoing Agenda for the June 3, 2024, Meeting of the Measures H/L Sales Tax Committee was posted and available for review on May 31, 2024 at the City Hall of the City of Placerville, 3101 Center Street, Placerville, CA 95667. ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 5 Visit us on “The Web” at www.cityofplacerville.org  The Agenda is also available on the City website at www.cityofplacerville.org Attest: Staff Liaison/Assistant City Manager/Director of Finance ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 6 Visit us on “The Web” at www.cityofplacerville.org  CITY OF PLACERVILLE MEASURES H/L SALES TAX COMMITTEE MEETING MINUTES MONDAY, APRIL 15, 2024 OPEN SESSION: 6:00 PM TOWN HALL 549 MAIN STREET, PLACERVILLE, CA 95667 2024 Susan Rodman, Chairperson Garry Silvey, Vice-Chairperson Elizabeth Zangari, Secretary Thomas Cumpston, Committee Member Mickey Kaiserman, Committee Member Ryan Carter, Alternate Committee Member 6:00 P.M. OPEN SESSION 1. CALL TO ORDER AND PLEDGE OF ALLEGANCE TO THE FLAG: The meeting was called to order at 6:00 PM by Chairperson Rodman, and the Pledge of Allegiance to the Flag was recited. ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 1 Visit us on “The Web” at www.cityofplacerville.org 2. ROLL CALL: Present: Cumpston, Kaiserman, Rodman, Silvey, Zangari Absent: Carter 3. ADOPTION OF AGENDA: It was moved by Committee Member Kaiserman and seconded by Secretary Zangari to adopt the agenda as presented. The motion passed by the following vote: AYES: Cumpston, Kaiserman, Rodman, Silvey, Zangari NOES None ABSENT: None ABSTAIN: None 4. PUBLIC COMMENT - BRIEF – NON-AGENDA ITEMS: 4.1 Written Communication No written communication was received by the Committee. 4.2 Oral Communication No oral communication was received by the Committee. 5. MINUTES OF THE MEASURE H/L SALES TAX COMMITTEE MEETING OF FEBRUARY 5, 2024 (Mr. Warren): The Committee requested a correction to agenda item 12. Following discussion by the Committee, it was moved by Committee Member Cumpston and seconded by Committee Member Kaiserman to adopt the minutes for the Measures H/L Sales Tax Committee meeting held on February 5, 2024, as amended. The motion passed by the following vote: AYES: Cumpston, Kaiserman, Rodman, Silvey, Zangari NOES None ABSENT: None ABSTAIN: None ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 2 Visit us on “The Web” at www.cityofplacerville.org 6. STREETS, SEWER SYSTEM, AND WATER SYSTEM CAPITAL IMPROVEMENT PROGRAM PROJECT HIGHLIGHTS (Ms. McConnell): The Interim City Engineer presented a brief update on the major street, sewer system, and water system Capital Improvement Program (CIP) projects funded by the Measure H and/or Measure L sales taxes and responded to questions posed by the Committee. 7. MEASURE H FUND QUARTERLY FINANCIAL REPORT AS OF DECEMBER 31, 2023 (Mr. Warren): The Staff Liaison presented the Measure H Fund financial report for the quarter ended December 31, 2023, and responded to questions posed by the Committee. Following discussion by the Committee, it was moved by Vice- Chairperson Silvey and seconded by Committee Member Kaiserman to acknowledge and file the Measure H Fund financial report for the quarter ended December 31, 2023. The motion passed by the following vote: AYES: Cumpston, Kaiserman, Rodman, Silvey, Zangari NOES None ABSENT: None ABSTAIN: None 8. MEASURE L FUND QUARTERLY FINANCIAL REPORT AS OF DECEMBER 31, 2023 (Mr. Warren): The Staff Liaison presented the Measure L Fund financial report for the quarter ended December 31, 2023, and responded to questions posed by the Committee. Following discussion by the Committee, it was moved by Secretary Zangari and seconded by Committee Member Kaiserman to acknowledge and file the Measure L Fund financial report for the quarter ended December 31, 2023. The motion passed by the following vote: AYES: Cumpston, Kaiserman, Rodman, Silvey, Zangari NOES None ABSENT: None ABSTAIN: None ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 3 Visit us on “The Web” at www.cityofplacerville.org 9. HDL CALIFORNIA FORECAST SALES TAX TRENDS & ECONOMIC DRIVERS AS OF DECEMBER 2023 (Mr. Warren): A copy of the HDL Sales Tax Trends and Economic Drivers report as of December 2023 was included in the agenda packet for informational purposes only. 10. DRAFT FISCAL YEAR 2024/2025 MEASURE H FUND AND MEASURE L FUND CAPITAL IMPROVEMENT PROGRAM BUDGETS (Ms. McConnell): The Interim City Engineer presented the draft Fiscal Year 2024/2025 Measure H Fund and Measure L Fund Capital Improvement Program Budgets and received comments from the Committee. 11. WATER AND WASTEWATER COST OF SERVICE STUDY STATUS UPDATE (Mr. Warren): The Staff Liaison provided a status update on the current water and wastewater cost of service study and received questions and comments from the Committee. 12. CONSIDER RECOMMENDING TO THE CITY COUNCIL THE USE OF UP TO $1,016,070 IN FISCAL YEAR 2024/2025 MEASURE H FUND NET REVENUES FOR WATER RECLAMATION FACILITY DEBT SERVICE IN DEVELOPING THE CURRENT WATER AND WASTEWATER COST SERVICE STUDY (Mr. Warren): The Staff Liaison presented the item and responded to questions posed by the Committee. Following discussion by the Committee, it was moved by Committee Member Cumpston and seconded by Committee Member Kaiserman that the Measures H/L Sales Tax Committee recommend to the City Council the use of up to $1,016,070 in Fiscal Year 2024/2025 Measure H Fund net revenues for the Water Reclamation Facility debt service in developing the current water and wastewater cost of service study. The motion passed by the following vote: AYES: Cumpston, Kaiserman, Rodman, Silvey, Zangari NOES None ABSENT: None ABSTAIN: None ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 4 Visit us on “The Web” at www.cityofplacerville.org 13. UPCOMING ITEMS: Items tentatively scheduled for the next Committee meeting include: Election of Officers, The Street, Sewer System, and Water System Capital Improvement Program project highlights, water and wastewater cost of service study update, Measure H Fund financial report for the quarter ended March 31, 2024, Measure L Fund financial report for the quarter ended March 31, 2024, HDL Trends & Economic Drivers Report as of December 2023, Measure H Fund balance projections for Fiscal Years 2023/2024 and 2024/2025, Measure L Fund balance projections for Fiscal Years 2023/2024 and 2024/2025, and the Proposed Fiscal Year 2024/2025 Measure H Fund and Measure L Fund Capital Improvement Program Budget, and the 2023 Water Usage Report. 14. REQUESTS FOR FUTURE AGENDA ITEMS (Mr. Warren): No future agenda items were requested by the Committee. 15. NEXT MEETING: Monday, June 3, 2024 at 6:00 PM. 16. ADJOURNMENT: The meeting was adjourned at 7:21 PM by Chairperson Rodman. Dave Warren, Staff Liaison/Director of Finance Elizabeth Zangari, Secretary ________________________________________________________________________ Measures H/L Sales Tax Committee Meeting Page 5 Visit us on “The Web” at www.cityofplacerville.org  City of Placerville Measure H Sales Tax Receipts-1st Quarter a b c d e d÷b $ Increase/ % Increase/ Dates 2023 2024 (Decrease) (Decrease) Advance (March) $ 137,364.24 $ 146,086.87 $ 8,722.63 Advance (April) 91,866.02 105,675.68 13,809.66 Quarterly Adjustment (May) 124,153.52 86,323.34 (37,830.18) Total quarter ended March 31st before adjustments 353,383.78 338,085.89 (15,297.89) -4.33% Less: Prior Period Adjustments (61,686.19) (66,603.96) (4,917.77) Total quarter ended March 31st after adjustments $ 291,697.59 $ 271,481.93 $ (20,215.66) -6.93% DRW/5/30/2024, 5:31 PM 2 Sales Tax Analysis FY 22-23 Quarter Ended 03-31-24  City of Placerville Unfunded/Under Funded Measure H Fund Projects Fiscal Year 2023/2024 As of March 31, 2024 Committee Available Recommended Measure H Measure H Funding to Unfunded Project Title Project Code Fund Budget Date Amount Broadway Maintenance Project-From Mosquito Road 42003 $ 200,000 $ 200,000 $ - to Schnell School Road Hocking Street Sewer Line Replacement 42245 450,000 - 450,000 Annual Sewer Collection Maintenance Project - 42331 25,000 - 25,000 Various Locations Secondary Clarifier No. 1 Protective Coating 42413 25,000 - 25,000 Annual Sewer Enterprise Fund Debt Service N/A 516,070 516,070 - Measure H Fund Construction Reserve N/A 356,900 306,497 50,403 Total $ 1,572,970 $ 1,022,567 $ 550,403 DRW/ 5/31/2024, 12:28 PM Measure H Unfunded Project List FY 23-24 as of 03-31-24  City of Placerville Measure H Fund Construction Reserve As of March 31, 2024 Date Resolution No. Description Amount Balance Beginning Balance $ 856,052.00 $ 856,052.00 03/31/24 N/A From Measure H Fund Net Revenues 306,497.00 1,162,549.00 01/23/24 9275 Broadway Maintenance Project From Mosquito Road to Schnell (1,162,549.00) - School Road (CIP #42003)^ Total $ - ^City Council Resolution No. 9275 approved a $1,300,000 budget appropriation from the Measure H Fund Construction Reserve for the Broadway Maintenance Project. From Mosquito Road to Schnell School Road (CIP #42003). The Measure H Fund Construction Reserve needs to fund the remaining $137,451. DRW/ 5/31/2024, 11:52 AM Measure H Fund Construction Reserve as of 03-31-24  CITY OF PLACERVILLE Statement of Net Position Measure H Fund Fiscal Year 2023/2024 As of March 31, 2024 Assets: Cash and investments $ 3,355,901 Receivables: Accounts - Interest - Total Assets 3,355,901 Liabilities: Accounts payable - Due to other funds - Total Liabilities - Net Position: Unrestricted 3,355,901 Total Net Position $ 3,355,901 Authorized Fund Balance Commitments: Placerville Station II-Mosquito Road Waterline $ 158,812 Replacement (CIP #407082) Sewer Line Relocation-Clay Street to Locust Street (CIP 28,768 #41202) Mosquito Road Sewer Main Replacement (CIP #41823) 7,771 Cedar Ravine Road Sewer Line Replacement (CIP 169,297 #41825) Modular Treatment Unit (MTU) Servicing (CIP #41901) 44,790 Broadway Maintenance Project-From Mosquito Road to 1,372,291 Schnell School Road (CIP #420033-to balance ) Storm Drain Replacement-Intersection of Broadway and 50,000 Schnell School Road (CIP #42004) Myrtle Avenue Sewer Line Repair (42010) 115,000 Cribbs Lift Station Maintenance (CIP #42011) 4,738 Modular Treatment Unit (MTU) No. 1 Servicing and 38,308 Underdrain Replacement (CIP #42107) Secondary Clarifier No. 1 Mechanism Replacement (CIP - #42108) DRW/5/31/2024, 12:27 PM 1 Measure H Fund FS FY 23-24 as of 03-31-24  CITY OF PLACERVILLE Statement of Net Position Measure H Fund Fiscal Year 2023/2024 As of March 31, 2024 Water Reclamation Facility Digester #1 Service (CIP 40,086 #42109) Giovanni Road Sewer Line Replacement (CIP #42224) 19,589 Garden Loop Sewer Line Replacement (CIP #42225) 25,000 Myrtle Avenue Sewer Main Replacement (CIP #42226) 25,000 Aeration Basin Blower No. 2 Replacement (CIP #42230) 84,013 Turbidity Meter Replacement (CIP #42231) 4,625 Secondary Scum Pumps Replacement (CIP #42232) 8,905 Waste Gas Flare Control System (CIP #42234) 9,041 Secondary Clarifier No. 3 Drive Unit (CIP #42235) 25,000 Hocking Street Sewer Line Replacement (CIP #42245) 453,797 Annual Sewer Collection System Maintenance-Various 50,000 Locations (CIP #42331) Acacia Way Sewer Line Replacement (CIP #42332) 25,000 Sewer Enterprise Fund Debt Service 516,070 Construction Reserve - Operating Reserve 80,000 Total Authorized Fund Balance Commitments 3,355,901 Unassigned Fund Balance: - Total Ending Fund Balance $ 3,355,901 DRW/5/31/2024, 12:27 PM 2 Measure H Fund FS FY 23-24 as of 03-31-24  CITY OF PLACERVILLE Statement of Revenues, Expenses and Changes in Net Position Measure H Fund Fiscal Year 2023/2024 As of March 31, 2024 % Adopted $ Remaining Remaining Budget Actual Budget Budget Operating Revenues: Sales tax $ 1,472,000 $ 900,484 $ 571,516 38.83% Total Operating Revenues 1,472,000 900,484 571,516 38.83% Operating Expenses: General and administrative - - - 0.00% Total Operating Expenses - - - 0.00% Operating Income (Loss) 1,472,000 900,484 571,516 38.83% Nonoperating Revenues and (Expenses): Interest earnings 15,000 43,343 (28,343) -188.95% Total Nonoperating Revenues 15,000 43,343 (28,343) -188.95% Income (Loss) Before Transfers 1,487,000 943,827 543,173 36.53% Transfers in - - - 0.00% Transfers out (1,472,000) - (1,472,000) 100.00% Total Transfers (1,472,000) - (1,472,000) Net Income (Loss) 15,000 943,827 (928,827) Net Position: Beginning of year 2,412,074 End of year $ 3,355,901 DRW/5/31/2024, 12:27 PM 3 Measure H Fund FS FY 23-24 as of 03-31-24  CITY OF PLACERVILLE Forecasted Statement of Revenues, Expenses and Changes in Net Position Measure H Fund Fiscal Year 2023/2024 As of June 30, 2024 % Adopted $ Remaining Remaining Budget Forecast Budget Budget Operating Revenues: Sales tax $ 1,472,000 $ 1,425,750 $ 46,250 3.14% Total Operating Revenues 1,472,000 1,425,750 46,250 3.14% Operating Expenses: General and administrative - - - 0.00% Total Operating Expenses - - - 0.00% Operating Income (Loss) 1,472,000 1,425,750 46,250 3.14% Nonoperating Revenues and (Expenses): Interest earnings 15,000 87,000 (72,000) -480.00% Total Nonoperating Revenues 15,000 87,000 (72,000) -480.00% Income (Loss) Before Transfers 1,487,000 1,512,750 (25,750) -1.73% Transfers in - - - 0.00% Transfers out (1,472,000) - (1,472,000) 100.00% Total Transfers (1,472,000) - (1,472,000) Net Income (Loss) 15,000 1,512,750 (1,497,750) Net Position: Beginning of year 2,412,074 End of year $ 3,924,824 Authorized Fund Balance Commitments: Placerville Station II-Mosquito Road Waterline $ 158,812 Replacement (CIP #407082) Sewer Line Relocation-Clay Street to Locust 28,768 Street (CIP #41202) Mosquito Road Sewer Main Replacement (CIP 7,771 #41823) Cedar Ravine Road Sewer Line Replacement 169,297 (CIP #41825) Modular Treatment Unit (MTU) Servicing (CIP 44,790 #41901) Broadway Maintenance Project-From Mosquito 1,509,742 Road to Schnell School Road (CIP #420033) DRW/5/31/2024, 1:56 PM 1 Measure H Fund FS FY 23-24 as of 03-31-24 Storm Drain Replacement-Intersection of 50,000 Broadway and Schnell School Road (CIP #42004) Myrtle Avenue Sewer Line Repair (42010) 115,000 Cribbs Lift Station Maintenance (CIP #42011) 4,738 Modular Treatment Unit (MTU) No. 1 38,308 Servicing and Underdrain Replacement (CIP #42107) Secondary Clarifier No. 1 Mechanism - Replacement (CIP #42108) Water Reclamation Facility Digester #1 Service 40,086 (CIP #42109) Giovanni Road Sewer Line Replacement (CIP 19,589 #42224) Garden Loop Sewer Line Replacement (CIP 25,000 #42225) Myrtle Avenue Sewer Main Replacement (CIP 25,000 #42226) Aeration Basin Blower No. 2 Replacement (CIP 84,013 #42230) Turbidity Meter Replacement (CIP #42231) 4,625 Secondary Scum Pumps Replacement (CIP 8,905 #42232) Waste Gas Flare Control System (CIP #42234) 9,041 Secondary Clarifier No. 3 Drive Unit (CIP 25,000 #42235) Hocking Street Sewer Line Replacement (CIP 453,797 #42245) Annual Sewer Collection System Maintenance- 75,000 Various Locations (CIP #42331) Acacia Way Sewer Line Replacement (CIP 25,000 #42332) Secondary Clarifier No. 1 Protective Coating 50,000 (CIP #42413) Sewer Enterprise Fund Debt Service 516,070 Construction Reserve - Operating Reserve 80,000 Total Authorized Fund Balance Commitments 3,568,352 Unassigned Fund Balance: 356,472 Total Ending Fund Balance $ 3,924,824 DRW/5/31/2024, 1:56 PM 2 Measure H Fund FS FY 23-24 as of 03-31-24  CITY OF PLACERVILLE Forecasted Statement of Revenues, Expenses and Changes in Net Position Measure H Fund Fiscal Year 2024/2025 As of June 30, 2025 Draft Budget Operating Revenues: Sales tax $ 1,406,035 Total Operating Revenues 1,406,035 Operating Expenses: General and administrative - Total Operating Expenses - Operating Income (Loss) 1,406,035 Nonoperating Revenues and (Expenses): Interest earnings 44,000 Total Nonoperating Revenues 44,000 Income (Loss) Before Transfers 1,450,035 Transfers in - Transfers out - Total Transfers - Net Income (Loss) 1,450,035 Net Position: Beginning of year 3,924,824 End of year $ 5,374,859 Authorized Fund Balance Commitments: Placerville Station II-Mosquito Road Waterline Replacement (CIP $ 158,812 #407082) Sewer Line Relocation-Clay Street to Locust Street (CIP #41202) 28,768 Mosquito Road Sewer Main Replacement (CIP #41823) 7,771 Cedar Ravine Road Sewer Line Replacement (CIP #41825) 169,297 Modular Treatment Unit (MTU) Servicing (CIP #41901) 44,790 Broadway Maintenance Project-From Mosquito Road to Schnell School 1,509,742 Road (CIP #420033) DRW/5/31/2024, 1:56 PM 3 Measure H Fund FS FY 23-24 as of 03-31-24  Storm Drain Replacement-Intersection of Broadway and Schnell School 50,000 Road (CIP #42004) Myrtle Avenue Sewer Line Repair (42010) 115,000 Cribbs Lift Station Maintenance (CIP #42011) 4,738 Modular Treatment Unit (MTU) No. 1 Servicing and Underdrain 38,308 Replacement (CIP #42107) Secondary Clarifier No. 1 Mechanism Replacement (CIP #42108) - Water Reclamation Facility Digester #1 Service (CIP #42109) 40,086 Giovanni Road Sewer Line Replacement (CIP #42224) 19,589 Garden Loop Sewer Line Replacement (CIP #42225) 25,000 Myrtle Avenue Sewer Main Replacement (CIP #42226) 25,000 Aeration Basin Blower No. 2 Replacement (CIP #42230) 84,013 Turbidity Meter Replacement (CIP #42231) 4,625 Secondary Scum Pumps Replacement (CIP #42232) 8,905 Waste Gas Flare Control System (CIP #42234) 9,041 Secondary Clarifier No. 3 Drive Unit (CIP #42235) 25,000 Hocking Street Sewer Line Replacement (CIP #42245) 453,797 Annual Sewer Collection System Maintenance-Various Locations (CIP 75,000 #42331) Acacia Way Sewer Line Replacement (CIP #42332) 25,000 Secondary Clarifier No. 1 Protective Coating (CIP #42413) 50,000 Sewer Enterprise Fund Debt Service 516,070 Construction Reserve - Operating Reserve 80,000 Total Authorized Fund Balance Commitments 3,568,352 Unassigned Fund Balance: 1,806,507 Total Ending Fund Balance $ 5,374,859 DRW/5/31/2024, 1:56 PM 4 Measure H Fund FS FY 23-24 as of 03-31-24  City of Placerville Measure L Sales Tax Receipts-1st Quarter a b c d e d÷b $ Increase/ % Increase/ Dates 2023 2024 (Decrease) (Decrease) Advance (March) $ 274,492.27 $ 292,054.06 $ 17,561.79 Advance (April) 183,544.36 211,382.74 27,838.38 Quarterly Adjustment (May) 249,267.11 172,543.71 (76,723.40) Total quarter ended March 31st before adjustments 707,303.74 675,980.51 (31,323.23) -4.43% Less: Prior Period Adjustments (123,908.13) (132,912.20) (9,004.07) Total quarter ended March 31st after adjustments $ 583,395.61 $ 543,068.31 $ (40,327.30) -6.91% DRW/5/30/2024, 5:31 PM 4 Sales Tax Analysis FY 22-23 Quarter Ended 03-31-24  City of Placerville Unfunded/Under Funded Measure L Fund Projects Fiscal Year 2023/2024 As of March 31, 2024 Committee Available Recommended Measure L Project Measure L Funding to Unfunded Project Title Code Fund Budget Date Amount Broadway Sidewalks 41606 $ 300,000 $ 300,000 $ - Placerville Drive Bike and Pedestrian Facility 41816 150,000 - 150,000 Improvements Broadway Maintenance Project-From Mosquito 42003 1,000,000 1,000,000 - Road to Schnell School Road Annual Water Valve Replacement 42207 50,000 - 50,000 Annual Storm Drain Compliance 42212 40,000 - 40,000 Smith Flat Road Storm Drain and Paving 42213 100,000 - 100,000 Local Roadway Safety Plan 42248 25,000 - 25,000 Annual Road Patch Paving and Maintenance - 42321 50,000 - 50,000 Various Locations Annual Striping and Signage Maintenance-Various 42322 50,000 - 50,000 Locations Annual Water Distribution Maintenance Project- 42329 50,000 - 50,000 Various Locations Canal Street Phase 1 - Combellack Road to Cougar 42402 111,728 - 111,728 Lane Canal Street Phase 1A - Combellack Road Sidewalk 42403 101,510 - 101,510 Canal Street Phase 2 - Cougar Lane to US Highway 42404 90,000 - 90,000 50 DRW/ 5/31/2024, 2:54 PM 1 Measure L Unfunded Project List FY 23-24 as of 03-31-24  City of Placerville Unfunded/Under Funded Measure L Fund Projects Fiscal Year 2023/2024 As of March 31, 2024 Committee Available Recommended Measure L Project Measure L Funding to Unfunded Project Title Code Fund Budget Date Amount Pierroz Road and Cold Springs Road Storm Drain 42405 25,000 - 25,000 Debbie Lane Storm Drain Maintenance 42406 50,000 - 50,000 Wiltse Road Storm Drain 42407 200,000 - 200,000 Measure L Fund Construction Reserve N/A 803,308 803,308 - Total $ 3,196,546 $ 2,103,308 $ 1,093,238 DRW/ 5/31/2024, 2:54 PM 2 Measure L Unfunded Project List FY 23-24 as of 03-31-24  City of Placerville Measure L Fund Construction Reserve As of March 31, 2024 Date Resolution No. Description Amount Balance Balance Effective July 1, 2023 $ 1,235,805 $ 1,235,805 10/24/23 9248 Water Reclamation Facility Driveway Paving project (40,000) 1,195,805 (CIP #42333) 12/12/23 9259 Placerville Drive Bicycle & Pedestrian Facility (250,000) 945,805 Improvements (CIP #41816) 12/12/23 9260 Placerville Drive at Hangtown Creek Bridge (25,000) 920,805 Replacement project (CIP #41410) 12/31/23 N/A From Measure L Fund Net Revenues 803,308 1,724,113 01/09/24 9266 Placerville Station II-Overlay (CIP #407081) (35,000) 1,689,113 01/23/24 N/A From Measure L Fund Net Revenues 741,194 2,430,307 01/23/24 9275 Broadway Maintenance Project-Mosquito Road to (1,300,000) 1,130,307 Schnell School Road (CIP #42003) 02/13/24 9279 Bee Street Storm Drain Repair (CIP #42424) (105,000) 1,025,307 Total $ 1,025,307 DRW/ 5/31/2024, 4:08 PM Measure L Fund Construction Reserve as of 03-31-24  CITY OF PLACERVILLE Statement of Net Position Measure L Fund Fiscal Year 2023/2024 As of March 31, 2024 Assets: Cash and investments $ 9,159,530 Receivables: Accounts - Interest - Total Assets 9,159,530 Liabilities: Accounts payable - Due to other funds - Total Liabilities - Net Position: Unrestricted 9,159,530 Total Net Position $ 9,159,530 Authorized Fund Balance Commitments: Placerville Station II-Overlay (CIP #407081) $ 280,607 Placerville Station II-Mosquito Road Waterline 358,360 Replacement (CIP #407082) Sewer Line Relocation-Clay Street to Locust Street (CIP 322,776 #41202) Placerville Drive Bridge Widening (CIP #41410) 112,246 Broadway Sidewalks (CIP #41606) 454,556 Placerville Drive Bicycle and Pedestrian Facility 350,000 Improvements (CIP #41816) Canal Street Reconstruction (CIP #41821) 67,445 Inflow & Infiltration Reduction (CIP #41824) 91,579 Cedar Ravine Road Sewer Line Replacement (CIP 154,597 #41825) Ray Lawyer Drive Pavement Rehabilitation-From 29,994 Placerville Drive to Fair Lane and Armory Drive (CIP #41906) Conrad Street Sewer Line Replacement-Coloma Street to 200,550 Cottage Street (CIP #41916) Broadway Maintenance Project-From Mosquito Road to 2,437,159 Schnell School Road (CIP #42003)-to balance DRW/5/31/2024, 4:07 PM 1 Measure L Fund FS FY 23-24 as of 03-31-24  CITY OF PLACERVILLE Statement of Net Position Measure L Fund Fiscal Year 2023/2024 As of March 31, 2024 Storm Drain Replacement at the Intersection of 10,654 Broadway and Schnell School Road (CIP #42004) Water Valve Replacement (CIP #42007) 141,980 Benham Street Pavement Rehabilitation (CIP #42103) 21,444 Lead Water Service Replacement (CIP #42106) 141,785 Modular Treatment Unit (MTU) No. 1 Servicing and 190,000 Underdrain Replacement (CIP #42107) Dimity Lane Repaving (CIP #42203) 14,054 Coon Hollow Road Repaving (CIP #42204) 3,638 Middletown Road Repaving (CIP #42205) 7,179 Thompson Way Repaving (CIP #42206) 146,417 Sherman Street Repaving (CIP #42208) 47,176 Cedar Ravine Culvert Replacement (CIP #42211) 25,000 Annual Storm Drain Compliance (CIP #42212) 39,062 Smith Flat Road Storm Drain and Paving (CIP #42213) 300,000 Bedford Avenue Utilities and Repaving (CIP #42214) 25,000 Coloma Street Utilities and Repaving (CIP #42215) 25,000 Ronald Loop Utilities and Repaving (CIP #42216) 25,000 Lewis Street Utilities and Paving (CIP #42217) 25,000 Clark Street Utilities and Paving (CIP #42218) 25,000 Darlington Avenue Utilities and Paving (CIP #42219) 25,000 Lead Water Service Replacement (CIP #42220) 38,406 Conrad Street Water Main Replacement (CIP #42221) 25,000 Cottage Street Water Main Replacement (CIP #42222) 25,000 Miller Way Sewer Line and Waterline Replacement (CIP 25,000 #42223) Local Roadway Safety Plan (CIP #42248 2,640 Clay Street Patch Paving and Slurry-From Coleman Street 60,000 to Franklin Court (CIP #42250) Martin Lane Maintenance (CIP #42311) 25,000 Conrad Court Maintenance (CIP #42312) 25,000 Bee Street Maintenance (CIP #42313) 25,000 Coleman Street Maintenance (CIP #42314) 25,000 Pleasant Street Maintenance (CIP #42315) 25,000 DRW/5/31/2024, 4:07 PM 2 Measure L Fund FS FY 23-24 as of 03-31-24  CITY OF PLACERVILLE Statement of Net Position Measure L Fund Fiscal Year 2023/2024 As of March 31, 2024 Hocking Street Culvert Repair Improvements (CIP 50,000 #42316) Reservoir Street Maintenance (CIP #42317) 50,000 Sacramento Street Maintenance (CIP #42318) 50,000 Jacquier Road Paving (CIP #42319) 200,000 Storm Drain Replacement-Upper Broadway and Point 150,000 View Drive (CIP #42320) Annual Patch Paving and Maintenance-Various Locations 140,000 (CIP #42321) Annual Street Striping and Signage Maintenance-Various 120,000 (42322) Upper Main Street Maintenance (CIP #42323) 125,000 Sheridan Street Paving (CIP #42324) 82,432 Mallard Lane Maintenance (CIP #42325) 25,000 Washington Street Maintenance (CIP #42326) 25,000 Bear Rock Road Rehabilitation (CIP #42327) 19,818 Annual Water Distribution Maintenance-Various 120,000 Locations (CIP #42329) Lead Water Service Line Replacement (CIP #42330) 150,000 Annual Sewer Collection System Maintenance-Various 50,000 Locations (CIP #42331) Water Reclamation Facility Driveway Paving (CIP 100,000 #42333) Gravity Belt Thickener Poly Blend Unit Replacement 35,000 (CIP #42334) Activated Sludge Pump No. 3 Replacement (CIP 25,000 #42335) Forni Road Storm Drain Repair (CIP #42345) 112,669 Bee Street Storm Drain Repair (CIP #42424) 105,000 Construction Reserve 1,025,307 Operating Reserve - Total Authorized Fund Balance Commitments 9,159,530 Unassigned Fund Balance: - Total Ending Fund Balance $ 9,159,530 DRW/5/31/2024, 4:07 PM 3 Measure L Fund FS FY 23-24 as of 03-31-24  CITY OF PLACERVILLE Statement of Revenues, Expenses and Changes in Net Position Measure L Fund Fiscal Year 2023/2024 As of March 31, 2024 % Adopted $ Remaining Remaining Budget Actual Budget Budget Operating Revenues: Sales tax $ 2,941,000 $ 1,814,154 $ 1,126,846 38.32%0 Total Operating Revenues 2,941,000 1,814,154 1,126,846 38.32% Operating Expenses: General and administrative - - - 0.00% Total Operating Expenses - - - 0.00% Operating Income (Loss) 2,941,000 1,814,154 1,126,846 38.32% Nonoperating Revenues and (Expenses): Interest earnings 76,000 125,834 (49,834) -65.57% Total Nonoperating Revenues 76,000 125,834 (49,834) 0.00% Income (Loss) Before Transfers 3,017,000 1,939,988 1,077,012 35.70% Transfers in - - - 0.00% Transfers out - - - 0.00% Total Transfers - - - Net Income (Loss) 3,017,000 1,939,988 1,077,012 Net Position: Beginning of year 7,219,542 End of year $ 9,159,530 DRW/5/31/2024, 4:07 PM 4 Measure L Fund FS FY 23-24 as of 03-31-24  CITY OF PLACERVILLE Forecasted Statement of Revenues, Expenses and Changes in Net Position Measure L Fund Fiscal Year 2023/2024 As of June 30, 2024 % Adopted $ Remaining Remaining Budget Forecast Budget Budget Operating Revenues: Sales tax $ 2,941,000 $ 2,851,499 $ 89,501 3.04%0 Total Operating Revenues 2,941,000 2,851,499 89,501 3.04% Operating Expenses: General and administrative - - - 0.00% Total Operating Expenses - - - 0.00% Operating Income (Loss) 2,941,000 2,851,499 89,501 3.04% Nonoperating Revenues and (Expenses): Interest earnings 76,000 252,000 (176,000) -231.58% Total Nonoperating Revenues 76,000 252,000 (176,000) 0.00% Income (Loss) Before Transfers 3,017,000 3,103,499 (86,499) -2.87% Transfers in - - - 0.00% Transfers out - - - 0.00% Total Transfers - - - Net Income (Loss) 3,017,000 3,103,499 (86,499) Net Position: Beginning of year 7,219,542 End of year $ 10,323,041 Authorized Fund Balance Commitments: Placerville Station II-Overlay (CIP #407081) $ 280,607 Placerville Station II-Mosquito Road Waterline 358,360 Replacement (CIP #407082) Sewer Line Relocation-Clay Street to Locust 322,776 Street (CIP #41202) Placerville Drive Bridge Widening (CIP 112,246 #41410) Broadway Sidewalks (CIP #41606) 454,556 Placerville Drive Bicycle and Pedestrian Facility 500,000 Improvements (CIP #41816) Canal Street Reconstruction (CIP #41821) 67,445 DRW/5/31/2024, 4:53 PM 1 Measure L Fund FS FY 23-24 as of 03-31-24 Inflow & Infiltration Reduction (CIP #41824) 91,579 Cedar Ravine Road Sewer Line Replacement 154,597 (CIP #41825) Ray Lawyer Drive Pavement Rehabilitation- 29,994 From Placerville Drive to Fair Lane and Armory Drive (CIP #41906) Conrad Street Sewer Line Replacement-Coloma 200,550 Street to Cottage Street (CIP #41916) Broadway Maintenance Project-From Mosquito 2,571,735 Road to Schnell School Road (CIP #42003) Storm Drain Replacement at the Intersection of 10,654 Broadway and Schnell School Road (CIP #42004) Water Valve Replacement (CIP #42007) 141,980 Benham Street Pavement Rehabilitation (CIP 21,444 #42103) Lead Water Service Replacement (CIP #42106) 141,785 Modular Treatment Unit (MTU) No. 1 190,000 Servicing and Underdrain Replacement (CIP #42107) Dimity Lane Repaving (CIP #42203) 14,054 Coon Hollow Road Repaving (CIP #42204) 3,638 Middletown Road Repaving (CIP #42205) 7,179 Thompson Way Repaving (CIP #42206) 146,417 Annual Water Valve Replacement (CIP 50,000 #42207) Sherman Street Repaving (CIP #42208) 47,176 Cedar Ravine Culvert Replacement (CIP 25,000 #42211) Annual Storm Drain Compliance (CIP #42212) 79,062 Smith Flat Road Storm Drain and Paving (CIP 400,000 #42213) Bedford Avenue Utilities and Repaving (CIP 25,000 #42214) Coloma Street Utilities and Repaving (CIP 25,000 #42215) Ronald Loop Utilities and Repaving (CIP 25,000 #42216) Lewis Street Utilities and Paving (CIP #42217) 25,000 Clark Street Utilities and Paving (CIP #42218) 25,000 DRW/5/31/2024, 4:53 PM 2 Measure L Fund FS FY 23-24 as of 03-31-24 Darlington Avenue Utilities and Paving (CIP 25,000 #42219) Lead Water Service Replacement (CIP #42220) 38,406 Conrad Street Water Main Replacement (CIP 25,000 #42221) Cottage Street Water Main Replacement (CIP 25,000 #42222) Miller Way Sewer Line and Waterline 25,000 Replacement (CIP #42223) Local Roadway Safety Plan (CIP #42248 27,640 Clay Street Patch Paving and Slurry-From 60,000 Coleman Street to Franklin Court (CIP #42250) Martin Lane Maintenance (CIP #42311) 25,000 Conrad Court Maintenance (CIP #42312) 25,000 Bee Street Maintenance (CIP #42313) 25,000 Coleman Street Maintenance (CIP #42314) 25,000 Pleasant Street Maintenance (CIP #42315) 25,000 Hocking Street Culvert Repair Improvements 50,000 (CIP #42316) Reservoir Street Maintenance (CIP #42317) 50,000 Sacramento Street Maintenance (CIP #42318) 50,000 Jacquier Road Paving (CIP #42319) 200,000 Storm Drain Replacement-Upper Broadway 150,000 and Point View Drive (CIP #42320) Annual Patch Paving and Maintenance-Various 190,000 Locations (CIP #42321) Annual Street Striping and Signage 170,000 Maintenance-Various (42322) Upper Main Street Maintenance (CIP #42323) 125,000 Sheridan Street Paving (CIP #42324) 82,432 Mallard Lane Maintenance (CIP #42325) 25,000 Washington Street Maintenance (CIP #42326) 25,000 Bear Rock Road Rehabilitation (CIP #42327) 19,818 Annual Water Distribution Maintenance- 170,000 Various Locations (CIP #42329) Lead Water Service Line Replacement (CIP 150,000 #42330) Annual Sewer Collection System Maintenance- 50,000 Various Locations (CIP #42331) DRW/5/31/2024, 4:53 PM 3 Measure L Fund FS FY 23-24 as of 03-31-24 Water Reclamation Facility Driveway Paving 100,000 (CIP #42333) Gravity Belt Thickener Poly Blend Unit 35,000 Replacement (CIP #42334) Activated Sludge Pump No. 3 Replacement 25,000 (CIP #42335) Forni Road Storm Drain Repair (CIP #42345) 112,669 Canal Street Phase 1 - Combellack Road to 111,728 Cougar Lane (CIP #42402) Canal Street Phase 1 - Combellack Road 101,510 Sidewalk (CIP #42403) Canal Street Phase 2 - Cougar Lane to US 90,000 Highway 50 (CIP #42404) Pierroz Road and Cold Springs Road Storm 25,000 Drain (CIP #42405) Debbie Lane Storm Drain Maintenance (CIP 50,000 #42406) Wiltse Road Storm Drain (CIP #42407-to 135,697 balance ) Bee Street Storm Drain Repair (CIP #42424) 115,000 Construction Reserve 1,015,307 Operating Reserve - Total Authorized Fund Balance Commitments 10,323,041 Unassigned Fund Balance: - Total Ending Fund Balance $ 10,323,041 DRW/5/31/2024, 4:53 PM 4 Measure L Fund FS FY 23-24 as of 03-31-24  CITY OF PLACERVILLE Forecasted Statement of Revenues, Expenses and Changes in Net Position Measure L Fund Fiscal Year 2024/2025 As of June 30, 2025 Forecast Operating Revenues: Sales tax $ 2,812,069 Total Operating Revenues 2,812,069 Operating Expenses: General and administrative - Total Operating Expenses - Operating Income (Loss) 2,812,069 Nonoperating Revenues and (Expenses): Interest earnings 100,000 Total Nonoperating Revenues 100,000 Income (Loss) Before Transfers 2,912,069 Transfers in - Transfers out - Total Transfers - Net Income (Loss) 2,912,069 Net Position: Beginning of year 10,323,041 End of year $ 13,235,110 Authorized Fund Balance Commitments: Placerville Station II-Overlay (CIP #407081) $ 280,607 Placerville Station II-Mosquito Road Waterline Replacement (CIP 358,360 #407082) Sewer Line Relocation-Clay Street to Locust Street (CIP #41202) 322,776 Placerville Drive Bridge Widening (CIP #41410) 112,246 Broadway Sidewalks (CIP #41606) 454,556 Placerville Drive Bicycle and Pedestrian Facility Improvements (CIP 500,000 #41816) Canal Street Reconstruction (CIP #41821) 67,445 Inflow & Infiltration Reduction (CIP #41824) 91,579 DRW/5/31/2024, 4:53 PM 5 Measure L Fund FS FY 23-24 as of 03-31-24  Cedar Ravine Road Sewer Line Replacement (CIP #41825) 154,597 Ray Lawyer Drive Pavement Rehabilitation-From Placerville Drive to 29,994 Fair Lane and Armory Drive (CIP #41906) Conrad Street Sewer Line Replacement-Coloma Street to Cottage Street 200,550 (CIP #41916) Broadway Maintenance Project-From Mosquito Road to Schnell School 2,571,735 Road (CIP #42003) Storm Drain Replacement at the Intersection of Broadway and Schnell 10,654 School Road (CIP #42004) Water Valve Replacement (CIP #42007) 141,980 Benham Street Pavement Rehabilitation (CIP #42103) 21,444 Lead Water Service Replacement (CIP #42106) 141,785 Modular Treatment Unit (MTU) No. 1 Servicing and Underdrain 190,000 Replacement (CIP #42107) Dimity Lane Repaving (CIP #42203) 14,054 Coon Hollow Road Repaving (CIP #42204) 3,638 Middletown Road Repaving (CIP #42205) 7,179 Thompson Way Repaving (CIP #42206) 146,417 Annual Water Valve Replacement (CIP #42207) 50,000 Sherman Street Repaving (CIP #42208) 47,176 Cedar Ravine Culvert Replacement (CIP #42211) 25,000 Annual Storm Drain Compliance (CIP #42212) 79,062 Smith Flat Road Storm Drain and Paving (CIP #42213) 400,000 Bedford Avenue Utilities and Repaving (CIP #42214) 25,000 Coloma Street Utilities and Repaving (CIP #42215) 25,000 Ronald Loop Utilities and Repaving (CIP #42216) 25,000 Lewis Street Utilities and Paving (CIP #42217) 25,000 Clark Street Utilities and Paving (CIP #42218) 25,000 Darlington Avenue Utilities and Paving (CIP #42219) 25,000 Lead Water Service Replacement (CIP #42220) 38,406 Conrad Street Water Main Replacement (CIP #42221) 25,000 Cottage Street Water Main Replacement (CIP #42222) 25,000 Miller Way Sewer Line and Waterline Replacement (CIP #42223) 25,000 Local Roadway Safety Plan (CIP #42248 27,640 Clay Street Patch Paving and Slurry-From Coleman Street to Franklin 60,000 Court (CIP #42250) Martin Lane Maintenance (CIP #42311) 25,000 Conrad Court Maintenance (CIP #42312) 25,000 Bee Street Maintenance (CIP #42313) 25,000 Coleman Street Maintenance (CIP #42314) 25,000 Pleasant Street Maintenance (CIP #42315) 25,000 Hocking Street Culvert Repair Improvements (CIP #42316) 50,000 Reservoir Street Maintenance (CIP #42317) 50,000 Sacramento Street Maintenance (CIP #42318) 50,000 Jacquier Road Paving (CIP #42319) 200,000 DRW/5/31/2024, 4:53 PM 6 Measure L Fund FS FY 23-24 as of 03-31-24  Storm Drain Replacement-Upper Broadway and Point View Drive (CIP 150,000 #42320) Annual Patch Paving and Maintenance-Various Locations (CIP 190,000 #42321) Annual Street Striping and Signage Maintenance-Various (42322) 170,000 Upper Main Street Maintenance (CIP #42323) 125,000 Sheridan Street Paving (CIP #42324) 82,432 Mallard Lane Maintenance (CIP #42325) 25,000 Washington Street Maintenance (CIP #42326) 25,000 Bear Rock Road Rehabilitation (CIP #42327) 19,818 Annual Water Distribution Maintenance-Various Locations (CIP 170,000 #42329) Lead Water Service Line Replacement (CIP #42330) 150,000 Annual Sewer Collection System Maintenance-Various Locations (CIP 50,000 #42331) Water Reclamation Facility Driveway Paving (CIP #42333) 100,000 Gravity Belt Thickener Poly Blend Unit Replacement (CIP #42334) 35,000 Activated Sludge Pump No. 3 Replacement (CIP #42335) 25,000 Forni Road Storm Drain Repair (CIP #42345) 112,669 Canal Street Phase 1 - Combellack Road to Cougar Lane (CIP #42402) 111,728 Canal Street Phase 1 - Combellack Road Sidewalk (CIP #42403) 101,510 Canal Street Phase 2 - Cougar Lane to US Highway 50 (CIP #42404) 90,000 Pierroz Road and Cold Springs Road Storm Drain (CIP #42405) 25,000 Debbie Lane Storm Drain Maintenance (CIP #42406) 50,000 Wiltse Road Storm Drain (CIP #42407 200,000 Bee Street Storm Drain Repair (CIP #42424) 115,000 Construction Reserve 1,015,307 Operating Reserve - Total Authorized Fund Balance Commitments 10,387,344 Unassigned Fund Balance: 2,847,766 Total Ending Fund Balance $ 13,235,110 DRW/5/31/2024, 4:53 PM 7 Measure L Fund FS FY 23-24 as of 03-31-24 CALIFORNIA FORECAST SALES TAX TRENDS & ECONOMIC DRIVERS APRIL 2024 Sonoma, CA 888.861.0220 | solutions@hdlcompanies.com | hdlcompanies.com  STATEWIDE 2023/24 | 2024/25 SALES TAX TRENDS TOTAL -1.1% | 2.0% Overview: As 2024 unfolds, many of the same economic conditions remain in play, with varying effects on the overall outlook. Monitoring the Fed to gauge when interest rates will recede is a primary focus. Monthly unemployment trends and inflation results will determine how swiftly and significantly borrowing costs decrease. Results from the final quarter of 2023 confirmed a shift in consumer behavior, with people opting for essential household items over more expensive purchases. With the exception of Business/Industry and Restaurants/Hotels, all other groups saw negative comparisons to the fourth quarter of 2022. Consumer debt has soared while personal savings dwindle, suggesting only modest gains in the coming fiscal year. 2023/24 | 2024/25 2023/24 | 2024/25 Autos/Transportation -3.6% | 2.0% Fuel/Service Stations -2.6% | 1.4% The pricing dynamics of new vehicles, particularly within electric and This sector experienced an overall reduction in the fourth quarter, luxury segments, are adjusting following a period of significant inflation. primarily due to the initially skyrocketing, then plummeting prices of Simultaneously, as dealership inventories stabilize, manufacturers are regular and diesel fuel. Oil barrel costs rose more than anticipated, intensifying incentives, leading to reduced transactional values and which mitigated the overall reduction in sales tax. A normal historical impacting tax receipts. Dealerships are facing heightened competition pattern of prices at the pump, including a boost in the spring and and prevailing high lending rates, prompting potential buyers to summer months followed by a drop in late fall and early winter, is exercise caution. Reports indicate a substantial tightening of credit anticipated throughout calendar years 2024 and 2025. We forecast a conditions, affecting even creditworthy borrowers and contributing to minor overall increase in FY 2024 - 25 before returning to stable 2% a deceleration in market activity. Projections suggest a gradual market growth in the outer years. normalization through 2024, a modest resurgence anticipated in the latter half of the year driven by expected reductions in financing rates. General Consumer Goods -1.8% | 1.6% Core retail categories fell short of expectations for the 2023 holiday Building/Construction -1.3% | 3.1% quarter, leading to a contraction in direct local tax allocations across Strong demand for repairs to address storm-damaged roofing nearly all business types. This reinforces the anticipated pullback and bolstered the construction sector. Both material suppliers and roofing tightening of family budgets. Recent CPI readings suggest that core contractors reported a second consecutive quarter of new business goods prices are flat, so expect near-term results to be more influenced leading to long wait lists. Contractors are optimistic about new project by changes in consumption rather than price. While borrowing costs bids for infrastructure work funded by the Infrastructure Investment remain elevated and access to cheap credit is now a thing of the past, and Jobs Act, as they drive more business for asphalt and concrete the forecast lowered near-term expectations for the current fiscal batch plants. Conversely, home improvement centers and lumber year. The sooner the Fed implements rate cuts, the sooner consumers retailers experienced declines. Mortgage rates are decreasing, but not could feel some relief and return to purchasing beyond essential enough to stimulate new construction. When the Fed indicates that goods. The outlook expects mild growth in the 2024-25 fiscal year. conditions warrant a reversal of prior rate hikes, a swift response from this sector is anticipated. Expansion in statewide construction activity Restaurants/Hotels 1.9% | 3.3% is projected for FY 2026-27. Nationally, rising menu prices are reaching a tipping point where diners are opting to eat out less frequently. In California, this Business/Industry 0.5% | 1.7% is worsened by the upcoming minimum wage hike for fast food Following several years of expansion, this group experienced a 2.2% restaurants, effective April 1. Savvy restaurateurs are strategically dip. Of the group’s 21 different sectors, only six landed in positive implementing increases to mitigate sticker shock while preparing for territory. Fulfillment centers, accounting for 31% of total revenues, the rising operating costs. Meanwhile, other establishments have ended the quarter essentially even as ecommerce continued to fill responded with significant, noticeable menu price surges, garnering more orders from warehouses based in California. The largest gain attention nationwide. As consumers still desire to eat out and travel, occurred in energy/utilities, driven by regional energy/solar projects. they are making more cost-conscious decisions, resulting in slower Most significantly, the medical/biotech sector contracted as equipment growth. and supply needs tapered off. Both heavy and light industry faced inventory, pricing, and demand challenges, while sales in business- State and County Pools -0.4% | 2.0% to-business and office equipment/IT slowed down. Considering the Ecommerce as a means of purchasing products remained strong. influencing variables for these various sectors, HdL projects limited Online holiday spending across the country grew 5% when compared growth for the current year followed by slow expansion in succeeding to the same period last year. More sales were made via mobile than years. desktop for the first time. Additionally, “buy now pay later” emerged as a popular alternative to credit card or cash usage; however, Food/Drugs -2.7% | 1.5% payment obligations rise in the spring and summer months. Year- Although inflation has softened, consumer spending at grocery stores to-date pool receipts declined in the first two quarters, affected by declined 5% in Q4 of 2023. Shoppers, anticipating flat sales, pulled taxpayer filing changes and significant reductions in private party back on spending. Convenience-liquor stores experienced diminishing auto sales. Expansion of AI and voice search deployment along profits as younger adults turned to caffeinated non-alcoholic drinks. with improvements in personalized customer experiences through Cannabis retail sales saw a dismal 10% decrease as businesses and technology investments are expected to bolster future use taxes investors alike endure ongoing challenges from the illicit market. generated via online transactions. The slight downturn for FY 2023- Furthermore, as one major drug store chain begins closing multiple 24 should turn positive next year. locations across the state, consumers are turning to competitors or ecommerce. As this sector right-sizes through closures, mergers, and building consumer confidence, anticipate fewer taxes to be captured in the current year before gradually rising in the coming fiscal year. HdL Companies California Forecast April 2024  NATIONAL AND STATEWIDE ECONOMIC DRIVERS 2023/24 | 2024/25 2023/24 | 2024/25 U.S. Real GDP Growth 2.5% | 1.9% U.S. Unemployment Rate 3.9% | 4.2% Real GDP grew at an annual rate of 3.2% in 4Q2023, driven by increases Unemployment in the nation remains low despite a slight increase in consumer spending, exports, and local and state government from 3.7% in January to 3.9% in February. In January, there were expenditures. Despite a decline in confidence, consumer spending 1.44 job openings for every unemployed person, indicating a tight rose a solid 2.6%, inflation adjusted, over the past year. Top categories labor market, despite higher interest rates. The U.S. job openings for spending growth include recreational vehicles and goods (12%), rate was 5.3%; lower than its peak in March 2022, but still higher new cars (4%), restaurants and hotels (4%) and recreational services than before the pandemic. Tight labor markets will continue to push (4%). The U.S. will almost certainly experience a reasonable pace of up real earnings, which grew at rate of 3.6% in 2023. The labor force GDP growth in 2024, led by solid growth in consumer demand. Labor participation rate remained steady at 62.5%, slightly below the 63.3% markets will remain tight, industrial production will be steady, and long rate right before the pandemic began, which is surprising given the run interest rates will likely stay in the same range. In many ways 2024 strong real earnings growth. will resemble 2023 with a steady, moderately expanding economy. Strong consumer demand suggests inflation will be running hotter CA Residential than the 2% pace that the Federal Reserve hopes to achieve. Building Permits 110,931 | 112,638 Excess demand for housing continues to be a significant issue in CA Unemployment Rate 5.2% | 5.4% California. Although the number of residential permits in the state remains above pre-pandemic levels, there are concerns that the The unemployment rate in California has steadily increased current level is insufficient to close the demand gap. Residential since reaching a low of 3.8% in August 2022. In February 2024, permits rose sharply after 2020 and this trend has persisted, unemployment reached 5.3%, marking a 0.8 percentage-point reaching an all-time high at the end of 2023. In the fourth quarter of increase year-over-year, and a 0.1 percentage-point increase from 2023, the number of residential permits increased slightly at a rate the previous month. The state’s unemployment rate remains elevated compared to the 3.9% rate in the United States overall. California of 6.8% year-over-year. Given the recent easing of mortgage rates, continues to struggle with its labor supply, which fell by 6,900 in residential permits will likely continue to expand, and a moderate February. Since February 2020, the state’s labor force has declined increase in permits is expected in the near term. by 243,400 workers, a 1.2% decrease. This lack of growth can be attributed to the low number of housing permits issued in California; CA Median Existing a workforce cannot grow if there is nowhere for workers to live. Home Price $717,173| $762,767 Following the pandemic recession, the median price of a single-family CA Total Nonfarm home in California peaked at $837,600 in April 2022. That median Employment Growth 0.8% | 0.7% declined steadily for nearly a year, reaching $693,800 in January 2023. California’s total nonfarm employment has grown 20.3% since the Since then, price growth has accelerated, with the state’s median economic recovery from the pandemic began. As of February 2024, price rising 11.3% year-over-year by February 2024. Currently, home California had recovered all the jobs that were lost in March and prices are 38.9% above their pre-pandemic peak in February 2020, April 2020, and there are now 294,100 more people employed in with a median price of $784,500. The state’s severe housing shortage the state compared to pre-pandemic February 2020. Total nonfarm is the primary reason prices have exhibited robust growth despite employment in California has grown 1.7% over this time compared high mortgage rates and declining sales. Existing homeowners are to a 3.6% increase nationally. Job growth has experienced a drag as reluctant to sell because they are “locked-in” to low mortgage rates, the labor force has declined in California. Given the sluggishness in further exacerbating the housing shortage. labor force growth, the labor market in California is likely to continue cooling. Proposition 172 While Proposition 172 (the 1/2 cent tax rate designated for Public Safety) projections closely track with the statewide Bradley-Burns, calculations vary somewhat due to the state’s allocation methodology. HdL estimates an average statewide decrease of 1.1% for fiscal year 2023-24 and a modest 1.8% gain in 2024-2025. Current projections reflect the county allocation factors published by the SCO in late August 2023 (which should likely change in April 2024). Recent reductions in Bradley-Burns countywide pool allocations elevated direct allocation distributions for a portion of internet-related sales, thus, pro-rata factors are impacted for many counties. Watch our webinar for more info! HdL Companies California Forecast April 2024  City of Placerville Proposed Measure H Fund and Measure L Fund Capital Improvement Program Budget Fiscal Year 2024/2025 As of May 31, 2024 Measure H Measure L Project Fund Fund Total Tunnel Street Maintenance - Phase 1 (New) $ - $ 25,000 $ 25,000 Sewer Line Relocation-Clay Street to Locust Street - 250,000 250,000 (CIP #41202) Placerville Drive Bridge Widening (CIP #41410) - 22,940 22,940 Thompson Way Repaving (CIP #42206) - 225,000 225,000 Sherman Street Repaving (CIP #42208) - 25,000 25,000 Annual Storm Drain Compliance (CIP #42212) - 20,000 20,000 Smith Flat Road Storm Drain and Paving (CIP 200,000 1,700,000 1,900,000 #42213) Storm Drain Replacement-Upper Broadway and Point - 200,000 200,000 View Drive (CIP #42320) Sheridan Street Paving (CIP #42324) - 40,000 40,000 Canal Street, Phase 1 - Combellack Road to Cougar - 60,322 60,322 Lane (CIP #42402) Canal Street, Phase 2 -Cougar Lane to US Highway 50 - 66,000 66,000 (CIP #42404) Sewer Enterprise Fund Debt Service 516,070 - 516,070 Measure L Fund Construction Reserve - 157,504 157,504 Measure H Fund Construction Reserve 1,090,437 - 1,090,437 Lead Water Service Replacement (New) - 56,000 56,000 Total $ 1,806,507 $ 2,847,766 $ 4,654,273 DRW/5/31/2024, 5:58 PM 1 CIP Book FY 24-25 as of 05-31-24