HomeMy WebLinkAbout111423-03.1
STUDY STUDY SESSION MEMORANDUM 3.1
TO: Mayor and Town Council November 14, 2023
SUBJECT: Fiscal Year 2022/23 Annual Comprehensive Financial Report for the
Town of Danville
BACKGROUND
The Pun Group, LLP, has completed its examination of the financial statements for the
Town of Danville and has approved the draft financial reports, including unqualified
opinions as to their accuracy. The draft audit is attached to this report and the Town
Council is now being asked to accept the FY 2022/23 Annual Comprehensive Financial
Report (ACFR).
FORMAT OF THE TOWN’S FINANCIAL REPORT
The ACFR is presented in compliance with standards established by the Governmental
Accounting Standards Board (GASB). GASB established standards to communicate
information about the financial condition of the reporting entity, in this case, the Town.
These standards are expressed through GASB Statements 31, 34, 40, 44 and 54. The ACFR
is intended to provide the Town Council and other users with the information needed to
make decisions about how well the Town is managing its resources.
The ACFR is composed of three sections: Introductory, Financial and Statistical.
The Introductory Section familiarizes the reader with the Town and includes the
Transmittal Letter, the Town’s organizational chart and a directory of public officials.
The Financial Section includes the Independent Auditor’s Report, Management’s
Discussion and Analysis, Basic Financial Statements, Notes to the Financial
Statements, Required Supplementary Information and Supplemental Information.
The Statistical Section includes Financial Trends, Revenue and Debt Capacity,
Demographic and Economic Information and Operating Information.
GASB 34 presents financial information from two perspectives. The first perspective, the
Government-Wide Financial Statements, located at the beginning of the Financial Section,
groups the Town’s funds into major and non-major funds and presents them in this
condensed format. The value of the Town’s long-term debt and the Town’s
infrastructure, net of depreciation, is included in the Government-Wide Statement of Net
FY 2022/23 Audited ACFR 2 November 14, 2023
Assets and the Statement of Activities and Changes in Net Assets. The second
perspective, the Fund Financial Statements, includes the Governmental Funds Balance
Sheet and the Statement of Revenues, Expenditures and Changes in Fund Balance, but
omits long-term debt and the value of infrastructure. Reconciliation of the Government-
Wide Financial Statements and the Fund Financial Statements are presented after each of
the Fund Financial Statements.
Based on GASB criteria, the Town’s major funds are the General Fund, and the Capital
Improvement Project Fund. The Town has also chosen to present the Lighting and
Landscape Special Revenue Fund and the Regional Traffic Impact Fees Special Revenue
Fund as major funds.
The Statistical Section schedules are designed to show trends in five areas: financial,
revenue capacity, debt capacity, demographic and economic information and operating
information.
Highlights of the Town’s accomplishments and fiscal activities are presented in the
Transmittal Letter and Management Discussion and Analysis.
ECONOMIC CONDITION OF DANVILLE’S GENERAL FUND
General Fund
The General Fund realized a net increase in fund balance of $1,263,782 (year over year
2021/22 to 2022/23). Revenues exceeded expenditures by $9,124,120 with net operating
transfers to other funds of $8,076,594.
Actual revenues exceeded final budgeted revenues by $4,377,213. General Fund
expenditures were below budget by $2,147,148 with cost savings in most departments.
These savings were largely attributable to several position vacancies that went unfilled
and less expenditures in Recreation, Arts and Community Services as fewer classes,
programs and activities were offered due to the pandemic.
Note 10 of the Notes to Basic Financial Statements details the reserves and designations
against the June 30, 2023 Fund Balance. The recommended designated reserves,
described in detail below, were reviewed by the Town Council Finance Committee on
October 17, 2023, and require approval and appropriation by the full Town Council.
TOWN FUND BALANCE
It is recommended that the Town Council approve the following adjustments to fund
balance reserves, which are reflected in the FY 2022/23 ACFR.
FY 2022/23 Audited ACFR 3 November 14, 2023
Emergency Reserve Fund
The recommended transfer of $2,948,948 to the Emergency Reserve Fund will assist with
the funding of 2023 Storm related expenses.
Other Reserves Against Fund Balance
In addition to the above-designated reserves that require Town Council action to
implement, a number of other reserves and designations have either been approved by
the Town Council in prior years or are statutorily restricted and do not require further
action. These include:
1) $13,809,768 for Operating Reserves;
2) $ 2,859,401 as a non-spendable receivable from the former CDA for the
Cooperative Agreement Loan;
3) $ 1,465,232 for Compensated Absences;
4) $ 827,765 for the Reserve for Debt Service;
5) $ 782,066 for the Contingency Fund;
6) $ 822,879 for encumbrances and carryover expenditures;
7) $1,516,413 for future use of the rental proceeds from the property at 500 La
Gonda Way;
8) $ 10,000 for the Reward Fund
When the operating transfers are combined with the above reserves and the designations
requiring Town Council action, the entire excess of revenues and other sources over
expenditures and other uses in the General Fund for the 2022/23 fiscal year will have
been designated for specific purposes.
Prepared by:
Lani Ha
Finance Director/Treasurer
FY 2022/23 Audited ACFR 4 November 14, 2023
Reviewed by:
Joseph A. Calabrigo
Town Manager
Attachment: A - General Fund Balance Analysis as of June 30, 2023
TOWN OF DANVILLE
GENERAL FUND BALANCE ANALYSIS
AS OF JUNE 30, 2023
Presented to Finance Committee on 10/17/23
June 30, 2023 June 30, 2022
TOTAL PRE-AUDIT FUND BALANCE AT 6/30/23 28,940,662 26,626,208
Unavailable-500 La Gonda Operating Fund (62,149)
Adjust for unrealized market value reported per GASB 31 requirement (3,114,469)1,050,668
Adjust for unrealized leased income/loss reported per GASB 86/87 requirement (721,576)(38,077)
FUND BALANCE without UNREALIZED MARKET value & LEASED income/loss 25,042,468 27,638,799
Less Reserves/Designations Against Fund Balance for:
Operating Reserve 13,809,768 13,809,768
Receivable from CDA 2,859,401 3,959,401
Compensated Absences/Personnel 1,465,232 1,195,339
Reserved for Debt Service 827,765 809,648
Contingency 782,066 782,066
Encumbrances 822,879 1,036,271
500 La Gonda Way reserved 1,516,413 1,266,413
Reward Fund 10,000 10,000
Total Reserves/Designations Against Fund Balance 22,093,524 22,868,906
CURRENT UNRESERVED/UNDESIGNATED FUND BALANCE AT 6/30/23 2,948,948 4,769,893
TOWN OF DANVILLE
FUND BALANCE OPTIONS
AS OF JUNE 30, 2023
CIP - General Purpose 0 3,250,000
Emergency Reserve Fund 2,948,948 0
Compensation Absence 0 269,893
Assets Replacement 0 1,000,000
500 La Gonda Way 0 250,000
Optional Use of Recommended Available Fund Balance at 6/30/23 2,948,948 4,769,893
ATTACHMENT A
TOWN OF DANVILLE, CALIFORNIA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE
TOWN COUNCIL
Robert Storer, Mayor
Karen Stepper, Vice Mayor
Newell Arnerich, Councilmember
David Fong, Councilmember
Renee Morgan, Councilmember
TOWN STAFF
Joseph, A. Calabrigo, Town Manager
Lani Ha, Finance Director/Treasurer
30, 2023
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Town of Danville
Annual Comprehensive Financial Report
For the Year Ended June 30, 2023
Table of Contents
Page
INTRODUCTORY SECTION (Unaudited)
Letter of Transmittal .......................................................................................................................................................... i
Organizational Chart ..................................................................................................................................................... xiii
Directory of Public Officials ......................................................................................................................................... xiv
Certificate of Achievement for Excellence in Financial Reporting –
Government Finance Officers Association ................................................................................................................. xv
Statement of Purpose ..................................................................................................................................................... xvi
FINANCIAL SECTION
Independent Auditors’ Reports:
Report on Financial Statements .............................................................................................................................. 1
Report on Internal Control Over Financial Reporting and on Compliance and
Other Matters Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards ............................................................................................. 5
Management’s Discussion and Analysis (Required Supplementary Information) (Unaudited) ............................. 7
Basic Financial Statements:
Government-Wide Financial Statements:
Statement of Net Position ........................................................................................................................... 20
Statement of Activities ................................................................................................................................ 21
Fund Financial Statements:
Governmental Fund Financial Statements:
Balance Sheet ............................................................................................................................................. 28
Reconciliation of Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position ............................................................................. 31
Statement of Revenues, Expenditures and Changes in Fund Balances ....................................................... 32
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures and Changes in Fund Balances to Government-Wide
Statement of Activities ......................................................................................................................... 34
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Position ............................................................................................................ 38
Statement of Changes in Fiduciary Net Position ......................................................................................... 39
Index to Notes to the Basic Financial Statements .................................................................................................... 43
Notes to the Basic Financial Statements................................................................................................................... 45
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Town of Danville
Annual Comprehensive Financial Report
For the Year Ended June 30, 2023
Table of Contents (Continued)
Page
FINANCIAL SECTION (Continued)
Required Supplementary Information (Unaudited):
Budgetary Information ............................................................................................................................................. 77
Budgetary Comparison Schedules:
General Fund ............................................................................................................................................... 78
Lighting and Landscape Special Revenue Fund .......................................................................................... 80
Regional Traffic Impact Fees Special Revenue Fund ................................................................................. 81
American Rescue Plan Act Special Revenue Fund ..................................................................................... 82
Modified Approach for Town Street Infrastructure Capital Assets .......................................................................... 83
Supplementary Information:
Non-Major Governmental Funds:
Combining Balance Sheet .................................................................................................................................. 91
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances ............................................ 96
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual:
PEG Special Revenue Fund....................................................................................................................... 101
Gas Tax Special Revenue Fund ................................................................................................................ 102
Building and Planning Special Revenue Fund .......................................................................................... 103
Development Engineering Special Revenue Fund .................................................................................... 104
Child Care Special Revenue Fund ............................................................................................................. 105
Stormwater Pollution Control Program (SPCP) Special Revenue Fund ................................................... 106
Measure C/J Special Revenue Fund .......................................................................................................... 107
Donations and Contributions Special Revenue Fund ................................................................................ 108
General Development Impact Fees Special Revenue Fund ....................................................................... 109
Public Safety Special Revenue Fund ......................................................................................................... 110
Old Town Parking In-Lieu Special Revenue Fund ................................................................................... 111
Solid Waste Vehicle Impact Fee Special Revenue Fund .......................................................................... 112
Low and Moderate Income Housing Special Revenue Fund .................................................................... 113
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Town of Danville
Annual Comprehensive Financial Report
For the Year Ended June 30, 2023
Table of Contents (Continued)
Page
STATISTICAL SECTION (Unaudited)
Financial Trends:
Net Position by Component ............................................................................................................................... 118
Changes in Net Position ..................................................................................................................................... 120
Fund Balances of Governmental Funds ............................................................................................................. 124
Changes in Fund Balances of Governmental Funds .......................................................................................... 126
Revenue Capacity
Governmental Activities Tax Revenues by Source ............................................................................................ 130
Assessed Value ................................................................................................................................................... 131
Direct and Overlapping Property Tax Rates ....................................................................................................... 132
Property Tax Levies and Collections ................................................................................................................. 133
Principal Property Taxpayers .............................................................................................................................. 134
Debt Capacity:
Ratios of Outstanding Debt by Type .................................................................................................................. 136
Ratios of General Bonded Debt Outstanding ...................................................................................................... 137
Direct and Overlapping Governmental Activities Debt ...................................................................................... 139
Legal Debt Margin Information ......................................................................................................................... 140
Pledged-Revenue Coverage ................................................................................................................................ 142
Demographic and Economic Information:
Demographic and Economic Statistics .............................................................................................................. 144
Principal Employers in the Town of Danville .................................................................................................... 145
Operating Information:
Full-Time Equivalent Town Government Employees by Function ................................................................... 148
Operating Indicators by Function ...................................................................................................................... 149
Capital Asset Statistics by Function.................................................................................................................... 150
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INTRODUCTORY SECTION
(Unaudited)
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“Small Town Atmosphere
Outstanding Quality of Life”
5 1 0 L A G O N D A W A Y , D A N V I L L E , C A L I F O R N I A 9 4 5 2 6
Administration Building Engineering & Planning Transportation Maintenance Police Parks and Recreation
(925) 314-3388 (925) 314-3330 (925) 314-3310 (925) 314-3320 (925) 314-3450 (925) 314-3700 (925) 314-3400
i
November 21, 2023
Mayor and Town Council
Town of Danville
Subject: Fiscal Year 2022/23 Annual Comprehensive Financial Report
The Annual Comprehensive Financial Report (ACFR) of the Town of Danville for the fiscal
year (FY) ended June 30, 2023, is submitted in compliance with laws of the State of California
and as prescribed by the Government Accounting Standards Board (GASB) Statement 34.
This report was prepared by the Town of Danville Finance Division, and the responsibility
for the accuracy of the data and the completeness and fairness of the presentation, including
all disclosures, rests with the Town. To the best of our knowledge, the data included in the
report is accurate in all material respects and is reported in a manner designed to present
fairly the financial position and results of operations of the various funds of the Town. All
disclosures necessary to enable the reader to gain an understanding of the Town's financial
activities have been included.
The ACFR represents the culmination of all budgeting and accounting activities of the Town
during FY 2023.
GENERAL INFORMATION ABOUT THE TOWN OF DANVILLE
Incorporated in 1982, Danville is located in southern Contra Costa County, approximately
30 miles east of San Francisco and lies in the center of the San Ramon Valley. The Town
comprises an area of 18.5 square miles and has 43,352 residents.
Danville began as a small rural village during the 1850s. The first post office was established
in 1860. Although the Town is suburban, it still retains its small-town character. Older well-
maintained neighborhoods coexist with newer subdivisions and their modern amenities.
The community enjoys natural creeks, hiking and biking trails, and dedicated open space.
Mt. Diablo, at an elevation of 3,849 feet, rises to the east and Las Trampas Regional
Wilderness, elevation 2,049 feet, creates the Town's western boundary.
Danville's primary commercial district lies in the center of the community and offers
resident-serving commercial businesses, boutique shopping, and fine dining. The Old Town
area is the historical center of the Town. It is a source of pride to our residents and is the site
of many holiday and special events which attract visitors throughout the year from around
the Bay Area.
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While Danville has remained predominantly residential, neighboring cities have developed
job centers including major business parks located within minutes from the Town.
The Town operates under the Council-Manager form of government, governed by a five-
member Town Council elected at large and serving staggered four-year terms. Council
elections are held in November of even-numbered years. The Town Manager and the City
Attorney are appointed by the Town Council. The Town Manager appoints all Department
Heads and through them all other employees of the Town.
Areas of service delivery for the Town include General Government, Police Services,
Administrative Services, Development Services, Maintenance Services and Recreation, Arts
and Community Services. The Town contracts with the Contra Costa County Sheriff’s Office
to provide police services. Additional services are provided by other agencies: fire service
by the San Ramon Valley Fire Protection District, water service by the East Bay Municipal
Utility District, wastewater service by the Central Contra Costa Sanitary District, and
primary and secondary education by the San Ramon Valley Unified School District.
The Town also contracts with private companies and individuals to provide certain building
inspection, recreation and maintenance services.
REPORTING ENTITY
A preliminary step in preparing the ACFR for the Town was the identification of the
reporting entity. In accordance with Government Accounting Standards Board Statement
No. 14, related governmental entities were evaluated to determine if the Town was
financially accountable for its operations. This report includes all fund types and account
groups of the Town of Danville.
The former Community Development Agency (CDA) of the Town was dissolved by AB x1
26 on January 31, 2012. As a result, all assets and debt liabilities of the former CDA were
transferred to a Fiduciary Trust Fund, the Successor Agency (SA) to the former Community
Development Agency of the Town of Danville, in FY 2011/12. On June 27, 2012, AB 1484
was passed and directed that the Low and Moderate Income Housing assets be transferred
from the SA to the Town. The SA does not meet the definition of a "component unit," and
its financial activities and assets are therefore not included in the Town’s financial
statements. Although the SA is legally a separate entity, the governing board of the SA has
the same membership as the Town Council. The Town is responsible for day-to-day
activities, including the ability to appoint, hire, reassign or dismiss management. An
Oversight Board consisting of seven members was appointed to the SA for the purpose of
overseeing the dissolution of the CDA. The Town of Danville Financing Authority (a joint
powers authority of the Town of Danville and the former CDA) is not included as a
component unit since it is financially independent. In April 2017, the State Department of
Finance approved the Last and Final Recognized Obligation Payment Schedule (ROPS) for
the SA. This approval established the precise amount of each Redevelopment Property Tax
Trust Fund (RPTTF) payment due to the SA until all of its obligations are retired in 2035.
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The SA also completed disposition of all assets in 2017. Taken together, these steps
eliminated the need for the Oversight Board and the preparation of any further ROPS.
ECONOMIC CONDITION AND OUTLOOK
Current Economic Condition
As of June 30, 2023, the Town of Danville's financial condition continues to be sound. An
indicator of the Town’s financial condition is the level of fund balance, reserved and
unreserved, in its Governmental Funds, which include General, Special Revenue, Debt
Service and Capital Projects. The Town has a policy of retaining a minimum of 20% of the
coming year’s operating expenditures as an operating reserve against the General Fund
fund balance. As of June 30, 2023, $13,809,768 or 37.4% is designated for this purpose.
Additional reserves against the General Fund include various future operating costs,
including General Fund purchase order encumbrance carryovers; reserves for Certificate of
Participation debt issued by the Town in 2001 and 2005; a contingency for unforeseen
expenditures; compensated absences/personnel; reward funds to help recover Town
property; a reserve for the receivable for the funds loaned to the former CDA and funds to
be used for maintenance of Town’s rental property. An additional $3,351,594 has been
designated as a transfer to the Capital Improvement Program Project Fund.
The Town’s conservative Investment Policy and practices continue to protect the principal
of the Town’s investment portfolio. The Town’s portfolio is invested in U.S. Treasury bonds;
U.S. Agency bonds; the State of California’s pooled fund; LAIF; and U.S. Corporate Notes
with ratings of AA- or higher.
The total General Fund fund balance of $28,940,662 represents 114.23% of total FY 2022/23
General Fund operating expenditures and 78.35% of operating expenditures from all funds.
Additionally, the Town has $37,879,051 of Special Revenue funds, and $36,955,042 in Capital
Projects funds.
The Town’s five largest revenue sources account for 85.35% of all Town revenues. These
include Property Tax providing 36.76% of revenues; Sales Tax providing 14.49%; Other
Taxes and Intergovernmental providing 20.81%; Special Assessments providing 7.00% and
Development Impact Fees providing 6.3% of revenues.
Property Tax increased by $903,979 (5.01%) compared to FY 21-22, as assessed values were
increased. Revenue trends from the past four years illustrate strong growth in assessed
valuation. December 31, 2015 marked the sunset of the Sales Tax for Property Tax swap
known as “the triple flip” that was enacted by the passage of Proposition 57 in 2004.
Charges for Services increased by $453,859 (16.92%), as Recreation classes and programs
increased. Recreation Fees and Charges, Building and Planning fees and Development
Engineering fees all increased compared to prior year.
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Sales Tax increased by $25,122 (.34%) as online sales activity and brick and mortar
businesses (restaurant and retail) continue to remain strong. Other Taxes and
Intergovernmental Fund Revenues increased by a net of $5,497,789 (105.25%), reflecting the
receipt of Coronavirus Local Fiscal Recovery Funds (CLFRF) from the federal government,
higher revenues from Gas Tax and Measure J funds and a slight decrease in SPCP Special
Assessments. LLAD Special Assessments remained essentially flat.
The increase in Development Fees of $641,740 (24.67%), reflects an increase in permitting
activity.
Danville’s jobless rate as of September 2023 was 4.0% as compared to 3.8% nationwide, 4.7%
in California, and 4.1% in Contra Costa County.
Outlook for the Future
The Town uses a multi-year financial planning process that includes estimates of future
revenue and operating expenditure growth as well as capital needs to be financed from all
funds over the next 10 years. The annual update of this model, the 2023/24 Operating
Budget and Capital Improvement Program, was completed in April 2023 and adopted on
June 6, 2023. General Fund revenues are projected to increase 5.60% from FY 2022/23 to FY
2023/24, largely attributable to a 4.94% increase in Property Tax Revenue, 8.33% increase in
sales tax revenue and 22.19% increase in Recreation Fees and Charges. Special Purpose
revenues are projected to increase 1.30%, mostly due to increase of 2.78% in Gas Tax
revenue, 8.34% in Measure J revenue, 3.00% in Solid Waste VIF revenue, and slight to no
increases in other Special Revenues funds.
Looking forward 10 years, General Purpose revenues are projected to increase 5.60% in FY
2023/24 and an average of 1.43% thereafter. Special Purpose revenues are projected to
increase 1.30% in FY 2023/24, and an average of 1.68% through FY 2032/33.
The 10-year projection includes cost increases that average 2.18% annually, reflecting
anticipated adjustments to service demands as well as changes in the Consumer Price Index.
The Town continues to evaluate the impact of current decisions on the long-term fiscal
stability of the Town.
By FY 2026/27, all four zones in the Lighting and Landscape Assessment District will
require further General Fund subsidies, or an increase in assessments, in order to maintain
current service levels.
Despite the passage of Senate Bill 1 – The Road Repair and Accountability Act of 2017, which
significantly increased the local streets and roads funds allocated back to Danville, Gas Tax
revenues alone will not support all of the costs associated with maintaining the Town's street
system over the next 10 years. Additional General Purpose and Special Purpose revenue
resources, will continue to be needed to maintain the current Pavement Condition Index
(PCI) and street maintenance service levels.
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Furthermore, the Town’s Capital Improvement Program will continue to require an annual
infusion from the General Fund and other available resources in order to maintain the
Town’s practice of paying cash for capital projects.
The Town’s current funding of service delivery, capital projects, local streets and roads and
long-term fiscal health depends on continued growth of the economy and avoidance of
further negative fiscal actions by the State or voters. The dissolution of the former
Community Development Agency continues to have a major negative impact on the Town
by eliminating a major annual funding source for downtown improvements. While the
Town will be repaid $2.86 million in funds owed by the former Community Development
Agency through annual payments, further action from the State could adversely affect the
Town’s fiscal condition.
Additional financial information on the Town of Danville is provided in The Management
Discussion and Analysis (MD&A). The Transmittal letter and MD&A are intended to
provide complementary information to each other.
MAJOR ACCOMPLISHMENTS AND INITIATIVES
For Fiscal Year 2022/23
Major events took place in the Town during FY 2022/23 that had or will have significant
financial effects on the Town in the years to come. The Town:
1. Completed the relocation of the Town Offices and Police Department to new facilities
located at 500 La Gonda Way.
2. Ended the declared state of local emergency related to the Coronavirus pandemic
which had been in place since March 2019.
3. Declared a local state of emergency due to flooding and mudslides experienced in
several neighborhoods as a result of an atmospheric river that hit the San Francisco
Bay Area on December 31, 2022, causing an estimated $6 million in damage to public
property.
4. Initiated several emergency repair projects and recovery efforts necessitated by the
December 31, 2022 storms, including the replacement of a failing twelve foot
diameter culvert on Diablo Road and reconstruction of approximately three hundred
feet of creekbank along San Ramon Creek which resulted in the closure of Front Street
north of Diablo Road.
5. Applied to the Federal Emergency Management Agency (FEMA) and the California
Office of Emergency Services (Cal OES) to qualify for up to $6 million in public
assistance related to emergency repair and recovery costs attributable to the declared
state or a local emergency due to the December 31, 2022 storms.
6. Provided approximately 45,000 sandbags for residents to assist with storm response
efforts.
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7. Provided frequent, timely, and accurate messages to residents related to the winter
atmospheric rivers and its aftermath. Messages from the Town were viewed over
127,903 times on social media in January 2023. Frequent communication helped
keep residents safe and informed during a difficult time.
8. Completed and adopted the 2023 – 2031 Housing Element for initial submittal to
the State of California Department of Housing and Community Development.
9. Adopted a new Downtown Master Plan and began design work for the Downtown
Master Plan Catalyst projects.
10. Continued to work with Tri-Valley Cities Coalition and state legislators to advocate
for changes to legislation in a manner that benefits Danville.
11. Created and appointed a new Bicycle Advisory Commission to advise the Town
Council on matters related to bicycle circulation and safety.
12. Continued to implement the American Rescue Plan Act: reporting and implementing
approved expenditures for the use of CLRF for the first tranche of $5,323,869 received
in July 2021, and the second tranche disbursement of $5,323,869 in July 2022.
13. Named safest city in California by several online sources, including
Propertyclub.com, ADT.com, and isoldmyhouse.com. This designation is based on
factors such as reported crime data, community amenities, and overall quality of life.
These assessments include all cities with more than 30,000 residents.
14. Enhanced public safety by equipping seven police patrol vehicles with "StarChase"
pursuit mitigation devices, which allow officers to tag fleeing vehicles with GPS
trackers, reducing the risks associated with high-speed police pursuits.
15. Collaborated with various mental health agencies, including A3
(Anyone/Anywhere/Anytime), MHET (Mental Health Evaluation Team), and the
San Ramon Valley Public Safety Mental Health Program to reduce incidents of
mental health distress within the community.
16. Continued the Police Chief’s "10-8 program," a weekly live video podcast, providing
opportunities for residents to engage and interact with law enforcement via Facebook
and YouTube.
17. Achieved a 100% juvenile diversion success rate, with all 14 juveniles referred to the
program successfully completing it and avoiding further criminal activity. This
marks a positive step in reducing juvenile recidivism.
18. Adopted Design Guidelines for the Temporary Outdoor Expanded Dining Program
for restaurants.
19. Developed and produced the fifth annual "Danville Picks" Holiday Gift Guide, a
comprehensive guide to holiday shopping in Danville, featuring local businesses and
products. The Gift Guide was promoted as a part of a regional marketing campaign
that included paid advertising.
20. Hosted 11 community events attracting over 53,000 attendees. Events included the
Devil Mountain Run (2,000 attendees), Kiwanis Danville July 4th Parade (35,000
attendees), Hot Summer Sundays Car Show (8,000 attendees), and Lighting of the
Old Oak Tree (8,000 attendees). These events are intended to build community spirit
and support local businesses.
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21. Awarded 60 Business Boost Grant applications valued at $180,000. The grant
is funded through the Cares Act and designed to support local businesses through
their recovery from the Covid-19 pandemic.
22. Approved 12 Business Promotion Grant applications valued at $20,542, assisting
over 100 local businesses. Grants were used to support initiatives that boost the
visibility and success of a wide spectrum of local businesses. Businesses utilized the
grants for marketing, building improvements, upgrade of equipment and training.
23. Launched a monthly email newsletter to over 4,000 subscribers. The newsletter
provides subscribers with information about upcoming events, local businesses, and
other news and resources. It has helped to build a strong connection with the Danville
community and support local businesses.
24. Processed 162 planning applications, ranging from variances and land use permits to
subdivisions and development plans.
25. Issued 2,689 building permits (83 percent of which were received online), conducted
2,183 plan checks and 7,897 building inspections.
26. Processed 548 encroachment permits for private or utility-related construction
activity within the public right-of-way.
27. Opened and facilitated the resolution of 295 code enforcement cases, more than
doubling the case load from the prior year.
28. Continued design and environmental work toward construction of the Diablo Road
Trail project.
29. Completed the schematic design work for the Diablo Vista Park playground and
multi-use skate park.
30. Completed design for the Camino Ramon Improvements project and began
construction.
31. Began construction of the Loch Lomond, Starview, and Westridge Trash Rack
projects.
32. Continued the design for the San Ramon Valley Boulevard Improvements project.
33. Began construction of the Sycamore Valley Road Park & Ride bioretention and
pedestrian improvements.
34. Completed the first phase of the Town-wide Storm Drain Master Plan.
35. Began construction of the Oak Hill Park playground replacement project.
36. Completed design work and awarded a contract to replace five acres of synthetic turf
athletic fields at Sycamore Valley Park.
37. Continued the design of the El Pintado Pavement and Drainage Improvements
project.
38. Completed design of the Rectangular Rapid Flashing Beacons at four locations.
39. Completed Phase I of the Townwide Traffic Signal Modernization project and begin
design of Phase II consisting of the federal-funded portion of the project.
40. Completed replacement of five traffic signal battery back-up systems
41. Completed a Local Roadway Safety Plan.
42. Received $611,000 in State grants for Traffic Signal Modernization project.
43. Received $109,000 State grant for the Downtown Masterplan Catalyst Project.
44. Continued the Neighborhood Traffic Management Program consisting of five active
neighborhood applications.
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45. Installed radar speed display signs at 8 locations as part of the Neighborhood Traffic
Management Program.
46. Installed Greenbrook Drive traffic calming improvements as part of the
Neighborhood Traffic Management Program.
47. Continued with various Transportation programs including Street Smarts traffic
safety education program, Neighborhood Traffic Management Program and
participation in Danville’s TRAFFIX Student Transportation Program.
48. Continued design of Camino Tassajara and Sycamore Valley Road Sound Wall
Improvements
49. Continued with design of the Townwide Fiber Optic Cable Interconnect project.
50. Renovated the turf in the large dog park at Hap Magee Ranch Park. The dog park at
Hap Magee Ranch Park is rated the best dog park in the area by Diablo Magazine.
51. Managed the street sweeping services contract to continue providing clean and safe
streets and prevent pollution of creeks.
52. Completed the annual creek cleaning through in-house and contract efforts which
helps prevent damage to public and private property.
53. Assumed maintenance responsibility for the landscaping along the I-680 corridor on
Camino Ramon and San Ramon Valley Blvd.
54. Completed a large pruning project of the “Danville Oak Tree” on Diablo Road.
55. Resurfaced two Town-maintained tennis courts at Monte Vista High School.
56. Resurfaced the two basketball courts at Sycamore Valley Park.
57. Replaced HVAC units at the Village Theatre, Town Meeting Hall and Cottage at Hap
Magee Ranch Park.
58. Converted lighting at the Library and Danville Community Center to LED for energy
conservation.
59. Continue to implement additional security measures and monitor cybersecurity
issues to protect the Town from these ongoing types of attacks.
60. Implemented an entirely new telephone system with security alerting.
For Fiscal Year 2023/24
During the upcoming FY 2023/24 the Town will:
1. Achieve State of California Department of Housing and Community Development
certification for the 2023 – 2031 Housing Element and adopt the certified Housing
Element.
2. Continue to work with Tri-Valley Cities Coalition and state legislators to advocate
for changes to legislation in a manner that benefits Danville.
3. Continue to work with the Federal Emergency Management Agency (FEMA) and the
California Office of Emergency Services (Cal OES) to recover up to $6 million in
public assistance related to emergency repair and recovery costs attributable to the
declared state or a local emergency due to the December 31, 2022 storms.
4. Undertake a feasibility study to consider changes and updates to the Town-wide
Lighting and Landscape Assessment District which supports ongoing maintenance
of Town parks, buildings, roadside landscaping and street lighting, and contributes
to the Town’s overall quality of life and property values.
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5. Complete construction of the Loch Lomond, Starview, and Westridge Trash Rack
projects.
6. Complete construction of the Oak Hill Park playground replacement project.
7. Complete replacement of five acres of synthetic turf athletic fields at Sycamore Valley
Park.
8. Complete emergency repairs of the San Ramon Creek creekbank and Front Street
north of Diablo Road.
9. Complete the emergency storm drain pipeline replacement on East Linda Mesa
Avenue.
10. Begin construction for the Downtown Master Plan Catalyst projects.
11. Construct the San Ramon Valley Boulevard Improvements project.
12. Complete construction of the Sycamore Valley Road Park & Ride bioretention and
pedestrian improvements.
13. Complete construction of the Camino Ramon Improvements project.
14. Complete design and construct the El Pintado Loop Drainage and Pavement
Improvements.
15. Begin design of the Town Green Master Plan projects.
16. Complete design and begin construction of the Diablo Road Trail project.
17.Complete design and begin construction of the Diablo Vista Park playground and
multi-use skate park.
18. Complete construction of the Rectangular Rapid Flashing Beacons project at four
locations.
19. Complete design and begin construction of Phase II of the Traffic Signal
Modernization project.
20. Complete design of the Iron Horse Trail Crossings Improvements.
22. Continue design work for the $6 million project to replace the La Gonda Way bridge
at Danville Boulevard.
23. Increase the number of businesses that apply for the Business Promotion Grant
program. Develop and distribute a survey to participants to gather feedback as part
of an ongoing effort to improve program effectiveness.
24. Analyze data from the previous year's "shop local" holiday marketing campaign to
identify areas for improvement. Gather feedback from participants as part of an
ongoing effort to improve program effectiveness.
25. Relaunch the Business Concierge program to provide businesses with a one-stop
shop for resources and assistance.
26. Refocus the Business Resources webpage to make it more user-friendly and
accessible. This includes enhancing tools for site selection to make it easier for
businesses to find the right location in Danville. Improve tools for new businesses to
help them get started and succeed.
27. Develop and implement a "Welcome Wagon" program to welcome new businesses
to Danville and introduce them to Town resources. The goal of the program is to help
new businesses get started and succeed in Danville.
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28. Implement the newly adopted Community Events Policy by developing a process for
reviewing and approving requests for community event support. Track the number
and monetary value of community events that receive support from the Town, and
measure the impact of the support on the community.
29. Create and grow the Danville Police Department’s Instagram account. Utilize the
account to share public safety-related news and updates as well as to build continue
the strong connection between the community and its police department.
30. Complete design and begin construction of the Townwide Fiber Optic Interconnect.
31. Continue implementation of Townwide Bicycle Facility Improvements
32. Complete replacement of five Electric Vehicle Charging Units (10 stations) in the
downtown area.
33. Renovate the children’s reading area in the Danville Library, including new flooring,
paint and furniture.
34. Complete a drainage improvement project on Van Patten Drive to eliminate
recurring flooding on the street.
35. Resurface two more Town-maintained tennis courts at Monte Vista High School.
36. Renovate the turf in the large dog park at Hap Magee Ranch Park, which continues
to be rated as the bet dog park in the area by Diablo Magazine.
37. Manage the street sweeping services contract to continue providing clean and safe
streets and prevent pollution of creeks.
38. Complete the annual creek cleaning through in-house and contract efforts, which
helps prevent damage to public and private property.
FINANCIAL CONTROLS AND INFORMATION
The Town's financial records for general governmental operations are maintained on a
modified accrual basis with revenues recorded when available and measurable and
expenditures recorded when the services or goods are received and the liability incurred.
Town Management is responsible for establishing and maintaining an internal control
structure designed to ensure that assets are protected from loss and theft or misuse; and for
compiling accounting data which is adequate for the preparation of financial statements in
conformity with generally accepted accounting principles. The internal control structure is
designed to provide reasonable, but not absolute, assurance that these objectives are met. The
concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed
the benefits likely to be derived and (2) the valuation of costs and benefits requires estimates
and judgments by management.
Budgeting Controls
The Town maintains budgetary controls. The objective of these budgetary controls is to
ensure compliance with legal provisions embodied in the annual appropriated budget
approved by the Town Council. Activities of all governmental type funds are included in the
annual appropriated budget. For FY 2022/23, the budgetary level of control (that is the level
at which expenditures cannot legally exceed the appropriated amount) for the operating
budget was at the fund level.
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For the capital improvement budget, the level of control was the individual capital
improvement project. The Town also utilizes the encumbrance system as a management
control technique to assist in controlling expenditures. All appropriations lapse at year-end.
However, encumbrances and appropriations for unfinished capital and other projects are
reviewed and, when warranted, are reappropriated ("carried over") as part of the following
year's budget.
Risk Management
The Town is a member of the Municipal Pooling Authority (MPA), a consortium of 20
California cities, including 17 in Contra Costa County, one in San Mateo County, one in
Santa Clara County and one in San Joaquin County. The Risk Management Authority is a
risk-sharing, self-insured pool providing insurance benefits to its members. Insurance
activities are financed by charges to member cities, and no long-term debt has been incurred
by the Authority. The Town participates in the Authority's self-insured general and auto
liability programs and purchases commercial property and earthquake insurance through
MPA. Annual premiums are determined based on an actuarial study using a retrospective
method.
During FY 2022/23, the Town was responsible for the first $5,000 of general liability costs
and $2,000 and $3,000 for Town and police auto liability respectively, for each of its own
claims.
The Town’s limits of coverage per claim are $29 million for general liability and $250,000 for
auto liability. The Town has set aside $31,809 in the General Fund to offset a liability and
finance anticipated settlement of claims.
The Town is also a member of the Authority's workers' compensation pool. The Authority
is responsible for the first $500,000, per claim. This program carries excess insurance above
$500,000 per claim.
The Town has implemented various risk control techniques and loss prevention and
reduction programs, including employee training and education.
OTHER INFORMATION
Independent Audit
It is the policy of the Town of Danville to have an audit performed annually by an
independent certified public accountant. The independent audit of the June 30, 2023
financial statements was performed by The Pun Group, LLP. Their opinion is included with
the general purpose financial statements.
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Acknowledgments
The development of this report would not have been possible without the dedication and
efforts of the entire Finance Division team. We would like to express our appreciation to all
staff members of the Town and our independent auditing firm who made this report
possible.
The Town’s prudent fiscal management policies and practices are guided by the leadership
and support of the Danville Town Council. We appreciate the Town Council’s support and
continued leadership.
Respectfully submitted,
Joseph A. Calabrigo Lani Ha
Town Manager Finance Director/Treasurer
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Town of Danville
Organizational Chart
xiii
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Town of Danville
Directory of Public Officials
xiv
TOWN COUNCIL
Robert Storer Mayor
Karen Stepper Vice Mayor
Newell Arnerich Councilmember
David Fong Councilmember
Renee Morgan Councilmember
TOWN STAFF
Joseph A. Calabrigo Town Manager
Robert Ewing City Attorney
Marie Sunseri City Clerk
Tai Williams Assistant Town Manager
Allan Shields Chief of Police
Lani Ha Finance Director/Treasurer
Dave Casteel Maintenance Services Director
Henry Perezalonso Recreation, Arts & Community Services Director
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Town of Danville
Certificate of Achievement for Excellence in Financial Reporting –
Government Finance Officers Association
xv
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Town of Danville
Statement of Purpose
xvi
DANVILLE IS A COMMUNITY DEDICATED TO PROVIDING
AN EXCEPTIONAL QUALITY OF LIFE FOR ITS CITIZENS
To achieve this level of excellence, Danville will:
Value and enhance its heritage and natural environment;
Build innovative processes for citizen involvement and stimulate active participation in local government decision
making;
Foster personal responsibility, ethical standards and commitment among citizens;
Achieve high quality development in scale with the natural surroundings;
Deliver superior municipal and educational services;
Encourage the arts, cultural and recreation activities, and community celebrations; and
Exercise strong leadership in regional issues.
These goals enhance a sense of positive “small town” values related to the family, neighborhood, and community.
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FINANCIAL SECTION
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INDEPENDENT AUDITORS’ REPORT
To the Mayor and Members of the Town Council
of the Town of Danville
Danville, California
Report on the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, each major fund, and the
aggregate remaining fund information of the Town of Danville, California (the “Town”), as of and for the year ended
June 30, 2023, and the related notes to the basic financial statements, which collectively comprise the Town’s basic
financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities, each major fund, and the aggregate remaining fund information of
the Town, as of June 30, 2023, and the respective changes in financial position thereof for the year then ended in
accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America
(“GAAS”) and the standards applicable to financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States (“Government Auditing Standards”). Our responsibilities under those
standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of
our report. We are required to be independent of the Town, and to meet our other ethical responsibilities, in
accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our audit opinions.
Emphasis of a Matter
Implementation of GASB Statement No. 96
As described in Notes 2Q and 15 to the basic financial statements, the Town implemented GASB Statement No. 96,
Subscription-Based Information Technology Agreements. Our opinion is not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States of America, and for the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events,
considered in the aggregate, that raise substantial doubt about the Town’s ability to continue as a going concern for
twelve months beyond the financial statement date, including any currently known information that may raise
substantial doubt shortly thereafter.
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To the Mayor and Members of the Town Council
of the Town of Danville
Danville, California
Page 2
2
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinions.
Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an
audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material
misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for
one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually
or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and design and perform audit procedures responsive to those risks. Such procedures include examining,
on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Town’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about the Town’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified
during the audit.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management’s Discussion
and Analysis, Budgetary Information, Budgetary Comparison Schedules for General Fund, Lighting and Landscaping
Special Revenue Fund, Regional Traffic Impact Fee Special Revenue Fund, and American Rescue Plan Act Special
Revenue Fund, and Modified Approach for Town Street Infrastructure Capital Assets 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.
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To the Mayor and Members of the Town Council
of the Town of Danville
Danville, California
Page 3
3
Supplementary Information
Our audits were conducted for the purpose of forming opinions on the financial statements that collectively comprise
the Town’s basic financial statements. The combining and individual nonmajor fund financial statements are
presented for purposes of additional analysis and are not a required part of the basic financial statements. Such
information is the responsibility of management and was derived from and relates directly to the underlying
accounting and other records used to prepare the basic financial statements. The information has been subjected to the
auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including
comparing and reconciling such information directly to the underlying accounting and other records used to prepare
the basic financial statements or to the basic financial statements themselves, and other additional procedures in
accordance with GAAS and Government Auditing Standards. In our opinion, the combining and individual nonmajor
fund financial statements are fairly stated, in all material respects, in relation to the basic financial statements as a
whole.
Other Information
Management is responsible for the other information included in the annual report. The other information comprises
the introductory and statistical sections but does not include the basic financial statements and our auditors’ report
thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an
opinion or any form of assurance thereon.
In connection with our audits of the basic financial statements, our responsibility is to read the other information and
consider whether a material inconsistency exists between the other information and the basic financial statements, or
the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that
an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated __________, 2023, on our
consideration of the Town’s internal control over financial reporting and on our tests of its compliance with certain
provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to
describe the scope of our testing of internal control over financial reporting and compliance and the results of that
testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an
integral part of an audit performed in accordance with Government Auditing Standards in considering the Town’s
internal control over financial reporting and compliance.
Walnut Creek, California
__________, 2023
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REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND
OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Independent Auditors’ Report
To the Mayor and Members of the Town Council
of the Town of Danville
Danville, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America and
the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller
General of the United States, the financial statements of the governmental activities, each major fund, and the
aggregate remaining fund information of the Town of Danville, California (the “Town”), as of and for the year ended
June 30, 2023, and the related notes to the basic financial statements, which collectively comprise the Town’s basic
financial statements, and have issued our report thereon dated __________, 2023.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Town’s internal control over
financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances
for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an
opinion on the effectiveness of the Town’s internal control. Accordingly, we do not express an opinion on the
effectiveness of the Town’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements, on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will
not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a
combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to
merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and
was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant
deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we
consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not
identified.
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To the Mayor and Members of the Town Council
of the Town of Danville
Danville, California
Page 2
6
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Town’s financial statements are free from material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements, noncompliance with which could have a direct and material effect on the financial statements. However,
providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do
not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are
required to be reported under Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the
results of that testing, and not to provide an opinion on the effectiveness of the Town’s internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards
in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any
other purpose.
Walnut Creek, California
__________, 2023
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MANAGEMENT’S DISCUSSION AND ANALYSIS
The Town of Danville’s Financial Statements are issued in the format prescribed by the provisions of Government
Accounting Standards Board Statement 34 (GASB No. 34). This discussion and analysis of the Town’s financial
performance provides an overview of the Town’s financial activities for the fiscal year ended June 30, 2023. Please
read it in conjunction with the accompanying transmittal letter, the Basic Financial Statements and the accompanying
notes to those financial statements.
FINANCIAL HIGHLIGHTS
The Town’s net position as of June 30, 2023 increased $11,496,010 or 4.1% from $279,475,452 to
$290,971,462.
Total liabilities and deferred inflows of resources were $24,273,866. Total assets were $315,245,328. Of this
amount $66,412,003 is classified as unrestricted and, with the future receipt of $2,859,401 of loan receivable
from the former Community Development Agency (CDA), may be used to provide ongoing services and capital
projects to residents and creditors.
Governmental funds for the Town have combined fund balances of $103,774,755. Of this amount $35,687,006
is restricted by external parties, $61,784,328 is committed for ongoing and future activities and $1,915,461 is
classified as nonspendable and unassigned, reflecting the future of receiving the loan proceeds from the
cooperative agreement to the former Community Development Agency and fund received for services that have
not been rendered by the Town, $3,287,960 has been assigned for ongoing operations and $1,100,000 is
unassigned.
The Town's General Fund fund balance increased 4.6% from $27,676,880 to $28,940,662. The fund balance
includes funds reserved or designated for debt service, future capital projects, ongoing operations, and an
operating reserve of $13,809,768 (37.4%) of FY 22/23 operating expenditures.
In fiscal year 2015, the Sacramento County Superior Court issued a ruling on September 5, 2014, concluding that the
reentered Cooperative Agreement between the Successor Agency and the Town of Danville was an enforceable
obligation. The State appealed the Superior Court decision, and in May 2015, the State dismissed its appeal. At the
same time, the Department of Finance accepted the Agreement as an enforceable obligation. The Town has decided to
retain the amount that was approved by the Department of Finance, $2,859,401 as a loan receivable on its books, and
reserve an offsetting amount in fund balance.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the Town's basic financial statements, which
consists of three components: 1) Government-wide Financial Statements, 2) Governmental Fund Financial Statements
and 3) Notes to the Basic Financial Statements. This report also contains supplementary information in addition to the
basic financial statements.
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Reporting the Town as a Whole - Government-Wide Financial Statements
The Government-Wide Financial Statements provide a longer-term view of the financial position of the Town as a
whole, including all capital assets and long–term liabilities on the full accrual basis. This presentation is similar to that
of a private-sector business. Over time, increases or decreases in the Town’s net position may serve as one useful
indicator of the Town’s overall financial health. Other factors to consider are changes in the Town’s property tax base
and the condition of the Town’s roads.
The Statement of Activities and Changes in Net Position provides information on how the Town's net position changed
during the fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change
occurs, regardless of the timing of the related cash flows. Therefore, revenues and expenses are reported in this statement
for some items that will only result in cash flows in future fiscal periods (for example, long term debt payments due
and capital asset depreciation). There is an emphasis on measuring net revenues and expenses of each of the Town’s
programs.
The Fiduciary Fund Financial Statements provide financial information about activities for which the Town acts solely
as a trustee or agent for the benefit of those outside of the government. Fiduciary funds reported in the ACFR for
Danville include the Deposits fund and the Successor Agency Trust Fund.
In the Statement of Net Position and the Statement of Activities and Changes in Net Position, the Town's activities are
separated as follows:
Governmental Activities: All of the Town’s basic services are considered to be governmental activities, including
general government, police, maintenance, development, transportation and recreation services. Governmental
activities are generally supported by taxes and intergovernmental revenues.
Reporting the Town’s Most Significant Funds - Governmental Fund Financial Statements
The Fund Financial Statements provide detailed information about the most significant funds and group the remaining
funds together under the column heading, "Non-Major Governmental Funds.” Some funds are required to be established
by State law and by bond covenants. In addition, the Town Council may establish other funds to help it control and
manage money for particular purposes or to show that it is meeting legal responsibilities for using certain taxes, grants,
and other money.
Governmental Funds—Most of the Town’s basic services are reported in governmental funds, which focus
on how money flows into and out of those funds and the balances left at year-end that are available for
spending. These funds are reported using an accounting method called modified accrual accounting, which
measures cash and all other financial assets that can readily be converted to cash. The Governmental Fund
Statements provide a detailed short-term view of the Town’s general government operations and the basic
services it provides. Governmental funds information help determine whether there are more or fewer
financial resources that can be spent in the near future to finance the Town’s programs. Capital assets and
other long-lived assets, along with long-term liabilities, are not presented in the Governmental Fund
Financial Statements. The relationship (or differences) between governmental activities (reported in the
Statement of Net Position and the Statement of Activities and Changes in Net Position) and Governmental
Funds Financial Statements are explained in a reconciliation schedule following each Governmental Fund
Financial Statement.
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Reporting the Town’s Fiduciary Responsibilities
The Town is the trustee, or fiduciary, for certain amounts held on behalf of developers, property owners, assessment
district bond holders, the Successor Agency and others. The Town’s fiduciary activities are reported in separate
Statements of Fiduciary Net Position and Changes in Fiduciary Net Position. The Town provides a Defined Contribution
Pension Plan for all qualified employees. We exclude these activities from the Town’s other financial statements
because the Town cannot use these assets to finance its operations. The Town is responsible for ensuring that the assets
reported in these funds are used for their intended purposes.
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 Governmental Fund Financial Statements.
Other Information
In addition to the Basic Financial Statements and accompanying notes, this report also presents certain Required
Supplementary Information concerning the Town’s funding of its obligation to provide pension benefits to its
employees, budgetary comparison schedules for the General Fund, each major Special Revenue Fund and schedules
and disclosure of the modified approach for reporting the Town’s infrastructure.
THE TOWN AS A WHOLE - GOVERNMENT-WIDE FINANCIAL ANALYSIS
The Town’s combined Net Position as of June 30, 2023 and 2022 were:
Table 1
Net Position
Governmental Activities
Increase
2023 2022 (Decrease)
Current and other assets $ 122,315,458 $ 111,100,663 $ 11,214,795
Capital Assets, net of depreciation 192,929,870 188,660,632 4,269,238
Total assets 315,245,328 299,761,295 15,484,033
Current liabilities 15,402,556 12,519,902 2,882,654
Long-term liabilities 5,255,224 5,659,468 (404,244)
Total liabilities 20,657,780 18,179,370 2,478,410
Deferred inflows of resources 3,616,086 2,206,276 1,409,810
Net position:
Net investment in capital assets 188,058,533 183,525,435 4,533,098
Restricted for:
Debt service 1,641,685 1,623,569 18,116
Special projects 34,859,241 30,027,429 4,831,812
Unrestricted 66,412,003 64,299,019 2,112,984
Total net position $ 290,971,462 $ 279,475,452 $ 11,496,010
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The Town’s Net Positions from Governmental Activities increased 4.11% from $279,475,452 to $290,971,462. This
increase of $11,496,010 comes from the change in net position as recorded in the Statement of Activities and flows
through the Statement of Net Position. Program expenses by function, general revenues by major source, excess and/or
deficiency of revenues over expenses before contributions to permanent fund principal, special, and extraordinary items,
and total assets are presented in the Statement of Activities and Changes in Net Position.
The following is an explanation of the changes between fiscal years as shown in Table 1:
Total assets increased $15,484,033:
Current and other assets increased $11,214,795 reflecting an increase in cash and investments. Capital assets,
net of depreciation, increased $4,269,238 reflecting expenditures for capital projects during the year.
Total liabilities increased $2,478,410:
Current liabilities increased by a net of $2,882,654, due largely to an increase in accounts payable, wages
payable, retention (for capital projects), unearned revenue, and deposit payable.
Non-current liabilities decreased a net of $(404,244) reflecting payment of long-term debt principal of $545,000
that was paid according to schedule, and an increase of $111,692 in compensated absences.
Deferred inflows of resources increased $1,409,810 due to the addition of new leases receivable and
remeasurement of existing leases receivable.
Net Position:
Restricted net position increased a net of $4,849,928. Special Revenue funds were spent for capital projects as
budgeted. Debt Service funds increased by $18,116 reflecting the net change in annual RPTTF funds received
for scheduled debt service payments of the Town's COPs and the increase in the reserved fund for debt service.
Special Projects funds increased by $4,831,812 as funds were needed for operations or appropriated for capital
expenditures.
Unrestricted net position, which are designated by Council for specific future capital improvements or
economic stability, increased by $2,112,294, reflecting solid revenues and controlled costs, which enabled the
transfer of $4.73 million of General Fund funds to be transferred to Capital Improvement funds for future capital
projects and Asset Replacement funds and LLAD funds for its operating expenses and Contingency fund.
Capital improvements include park improvements, road maintenance, traffic control measures and general
Town improvements.
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Government Activities
Table 2 presents the gross revenues and expenditures for the fiscal years ending June 30, 2023 and 2022.
Table 2
Revenues and Expenses
Governmental Activities
2023 2022 Increase (Decrease)
Revenues - Governmental Activities
Program revenues:
Charges for services $ 10,205,661 $ 9,650,921 $ 554,740
Operating grants and contributions 2,367,059 3,445,191 (1,078,132)
Capital grants and contributions 5,050,477 1,542,184 3,508,293
Total program revenues 17,623,197 14,638,296 2,984,901
General revenues:
Taxes:
Property 18,937,827 18,033,848 903,979
Sales 7,467,848 7,443,450 24,398
Motor vehicle 44,757 50,723 (5,966)
Franchise 3,383,163 3,252,012 131,151
Other 341,405 340,497 908
Investment earnings 998,731 (2,626,475) 3,625,206
Miscellaneous 2,501,924 563,904 1,938,020
Reimbursement from Successor Agency 825,175 785,175 40,000
Total general revenues 34,500,830 27,843,134 6,657,696
Total revenues 52,124,027 42,481,430 9,642,597
Expenses - Governmental Activities
General government 2,999,255 2,673,481 325,774
Police services 10,594,467 9,972,541 621,926
Maintenance services
and lighting and landscape 11,973,823 8,990,730 2,983,093
Development services 6,931,034 7,246,100 (315,066)
Administrative services 3,798,969 3,558,462 240,507
Recreation, arts & community services 4,096,414 3,137,966 958,448
Interest on long-term debt 234,055 256,521 (22,466)
Total expenses 40,628,017 35,835,801 4,792,216
Changes in Net Position 11,496,010 6,645,629 4,850,381
Net Position:
Beginning of year, as restated 279,475,452 272,829,823 6,645,629
End of year $ 290,971,462 $ 279,475,452 $ 11,496,010
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Variances shown above are reflected in the net numbers of Table 3 and are discussed following Table 3.
Table 3 presents each program’s net cost (total cost less revenues generated by the activities). The net cost shows the
financial burden that was placed on the Town’s taxpayers by each of these functions. The net cost of programs increased
by $4,950,184 reflecting lower change in expenses and higher change in revenues.
Table 3
Cost of Services
Governmental Activities
2023 2022
Increase
(Decrease)
Revenues:
General revenues $ 34,500,830 $ 27,843,134 $ 6,657,696
Total general revenues 34,500,830 27,843,134 6,657,696
Net Expenses:
General government (2,914,844) (1,426,781) (1,488,063)
Police services (10,230,182) (9,615,158) (615,024)
Maintenance services
and lighting and landscape (8,334,239) (5,773,559) (2,560,680)
Development services 4,585,384 459,801 4,126,303
Administrative services (3,501,416) (2,925,168) (576,248)
Recreation, arts, & community services (2,375,468) (1,759,202) (616,266)
Interest on long-term debt (234,055) (256,521) 22,466
Total net expenses (23,004,820) (21,297,308) (1,707,512)
Net Cost of Services $ 11,496,010 $ 6,545,826 $ 4,950,184
Variances shown above are reflected in the net numbers of Tables 2 and 3 and are discussed following Table 3.
Program revenues increased by $ 2,984,901. An increase of $554,740 in Charges for Services was largely due
to Recreations classes restored from prior year's classes canceled due to the pandemic, decreased activity in
Police Services, and net with the increase in the Development Services activity. Operating Grants decreased a
net of ($1,078,132) as grants for Police and Development Services increased, offset by no longer receiving
funding from CLRRF (Coronavirus Local Fiscal Recovery Funds) from the federal (American Rescue Plan
Act). Capital Grants and Contributions increased a net of $3,508,293 as grant for capital projects increased with
the funding from CLFRF (Coronavirus Local Fiscal Recovery Funds) from the federal (American Rescue Plan
Act).
General revenues increased $6,657,696 reflecting the net reported increase $903,979 in property tax revenues,
increase in net reported $24,398 in sales tax revenues, increase $131,151 in franchise fees, increase $3,625,206
in investment earning, and increase $2,815,257 in miscellaneous.
The Net Direct Cost of Program Services indicates that the overall cost of government is well below the available
general revenues and transfers. This shows that the Town's ongoing revenues cover its operational and capital
expenditures. The services provided by the Town are provided in an cost effective manner and the Town is efficient in
recovering the cost of these services with program revenues from user fees and other contributions. See the Statement
of Activities for further detail on program revenues and general revenues.
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FINANCIAL ANALYSIS OF THE TOWN’S FUNDS
At year-end, the fund balance for the Town’s General Fund was $28,940,662 a net increase of $1,263,782 over last
year. Revenues exceeded expenses by $9,124,120, and transfers out of $(8,076,594) were made for future capital
projects and additional funding for parks and building maintenance in the Lighting and Landscape Assessment District
($1,300,000). Major revenue sources that exceeded budget include property and transfer taxes of $2,087,827, sales taxes
of $1,342,848, Other taxes of $212,226, charges for services of $86,703, and use of money and property of $101,756
which reported rental revenues, and Investment earning, which also reflects actual earning and unrealized market
adjustments and the effect of discounts and premiums recognized in the year. These were offset by Fine and forfeitures
$(44,271) and intergovernmental $(61,379). Across the board, cost containment resulted in operating expenditures
below budget in all programs. Budget to actual cost savings totaled $2,147,148. Capital outlay for operations was
budgeted within each program and is broken out for year-end reporting on a separate line.
Compared to last fiscal year, property and transfer tax revenues increased by $903,979. This was attributable to
continued strong growth in assessed valuation, and a robust sales market that increased the volume of property transfer
activity. Sales tax showed a slight increase, by $24,398. The online sales activity remains strong, with brick and mortar
businesses (restaurant and retail) continuing their recovery. Other taxes increased by $108,128, with motor vehicle
receipts and franchise fees reflecting the continuing recovery from the pandemic. Charges for services increased by
$694,729 as Recreation classes and activities and in-person operation continued to return to the pre pandemic level of
service. Fines and forfeitures increased slightly $28,881, again reflected higher traffic and parking volumes. Uses of
money increased by $101,756 due to increase in rental from Town facilities and lower market value of the Town’s
investments as of June 30, 2023.
Additional detail comparing the budgeted and actual amounts for the General Fund can be found in the Required
Supplementary Information, Budgetary Comparison Schedule, General Fund.
The Lighting and Landscape Special Revenue Fund increased by $268,602, which compares favorably to the planned
and previously projected reduction in this fund balance. Cost containment efforts and a budgeted transfer in from the
General Fund of $1,300,000 account for this increase in fund balance.
The Regional Traffic Impact Fees fund balance is reported higher by $43,723 reflecting the increase in revenues, and
decrease in expenditures.
The fund balance in the Capital Improvement Projects Fund increased by a net of $2,460,835 reflecting capital
expenditures and a net transfer in of $5,701,594, helping to offset appropriated capital expenditures in excess of
revenues.
Non-major Special Revenue Funds increased by a net of $4,103,999 , reflecting normal revenues and use of these funds
for the operational or capital projects to which they are restricted. Non-major Special Revenue funds with major changes
include: the increase of PEG Fund by $66,252 as a result of more subscribers from the cable services; increased of Gas
Tax Fund increase by $943,387 due to higher revenues, resulting from the increase of demand for gasoline and the
gasoline price and less expenditures, compared to prior year; increase of the Building and Planning Fund by $1,130,994
due to higher revenues resulting from more building and planning activities and less expenditures; increase of
Development Engineering Fund by $199,864 due to higher revenues resulting from higher volume of engineering
services; increase of Child Care Fund by $66,426 due to the increase in building and planning activities; increase of
Measure J Fund by $509,797 due to higher revenues received from Contra Costa County Transportation and lowerer
expenditures for CIP projects; Public Safety Fund increase by $75,105 due to higher revenues received from the Contra
Costa County and less expenditures; Low and Moderate Income Housing increase by $641,913 from the sale of its
property; and the Solid Waste Vehicle Impact Fees Fund increase by $877,238 due to higher revenues and fund
transferred to the Capital Improvement Program (CIP) has not been expended; offset by decrease in Stormwater
Pollution Control Program Fund by $98,296 due to less revenues from assessment fees and higher expenditures due to
more use of consulting services; and the General Development Impact Fee Fund decreased by $(302,293) as
expenditures were higher resulting from expenses for CIP projects.
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The Non-Major Capital Improvement Funds, decreased by a net of $(1,113,166), due to an increase of $408,281 in the
Asset Replacement General Fund resulted from the transfer of $1,125,000 from General and other funds, and higher
expenditures from the purchase of vehicles; offset by a decrease of $(1,076,203) in the Park Facilities Fund due to
higher expenses for various CIP projects; and a decrease of $(337,264) in the Technology Fund, due to increase in
expenditures from the purchase of new technology equipment’s. All activity in the above funds reflects anticipated
revenues and appropriated transfers and expenditures for these funds.
General Fund Budgetary Highlights
Actual revenues over expenses exceeded the final budget by $9,124,120. This is primarily due to very conservative
revenue projections, the absence of State raids on local revenues, steady sales tax, and actual 5% increase in average
local property values. Final expenses for the General Fund at year end were less than budgeted by $2,147,148. The
budget to actual variance in appropriations reflects conservation efforts, leaving staffing positions vacant and
postponement of some operational activities by management. These proactive fiscal measures enabled the Town to
transfer $8,076,594 (including $1,300,000 to LLAD) to fund future capital projects throughout the Town.
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets
At the end of FY 2023, the Town had a book value of $192,929,870 invested in a broad range of capital assets, including
land, buildings, furniture and equipment, park improvements and infrastructure. (See tables 4 and 5 below.) This amount
represents an increase of $4,169,435 net of additions, retirements and depreciation, resulting in a 2.21% increase over
last year.
Changes reflect construction of capital assets, offset by depreciation/amortization expenses.
Depreciation/amortization on capital assets is recognized in the Government-Wide Financial Statements. The Town has
elected to use the modified approach for their streets and roads, wherein the value is not depreciated but rather pavement
condition and maintenance expenses are tracked. The pavement condition as of June 30, 2023 was 77, a decrease from
last year’s pavement condition of 80. This rating compares favorably with the target rating of 70. The average expense
to maintain the streets is estimated by management to be a minimum of $3,000,000 per year for the next three years.
Further detail may be found in Note 1F to the Financial Statements and in Note 3 of the Required Supplementary
Information.
Table 4
Capital Assets at June 30, 2023
(net of depreciation/amortization)
Original Cost
Accumulated
Depreciation/
Amortization
Book Value
Land $ 31,821,867 $ - $ 31,821,867
Buildings and parking lots 41,408,769 (15,679,625) 25,729,144
Park improvements 24,267,438 (22,725,629) 1,541,809
Furniture and equipment 6,033,822 (4,584,106) 1,449,716
Subscription assets 331,124 (109,747) 221,377
Construction in progress 33,610,738 - 33,610,738
Infrastructure 168,916,511 (70,361,292) 98,555,219
Total $ 306,390,269 $ (113,460,399) $ 192,929,870
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Table 5
Comparative Capital Assets at June 30, 2023 vs. June 30, 2022
(net of depreciation/amortization)
Governmental Activities
2023 2022
Increase
(Decrease)
Land $ 31,821,867 $ 31,221,867 $ 600,000
Buildings and parking lots 25,729,144 26,673,212 (944,068)
Park improvements 1,541,809 1,893,932 (352,123)
Furniture and equipment 1,449,716 381,425 1,068,291
Subscription assets 221,377 99,803 121,574
Construction in progress 33,610,738 29,620,687 3,990,051
Infrastructure 98,555,219 98,869,509 (314,290)
Total $ 192,929,870 $ 188,760,435 $ 4,169,435
The Town’s five-year Capital Improvement Plan projects will cost $40,092,233 through FY 2026/27. No debt financing
is required for these projects. Funding will come from current fund balances and projected revenues over the next five
years. The most significant projects include town-wide park renovations and enhancements with an emphasis on
Downtown Master Plan Improvements, Camino Ramon and San Ramon Valley Boulevard Improvement, Town Green
Master Plan and Diablo Road Trail project, and infrastructure maintenance including $13,000,000 for pavement
management. Additional details can be found in the Town's 2022/23 Operating Budget and Capital Improvement
Program document available at www.danville.ca.gov/Council_and_Government/Departments/Finance/.
Debt
At year end, the Town had $6,027,109 in Certificates of Participation (COPs) and Subscription Liabilities and
Compensated Absences outstanding versus $6,314,468 last year, a net decrease of $(287,359), as shown in Table 6
below.
Table 6
Outstanding Debt
June 30, 2023 vs June 30, 2022
2023 2022
Increase
(Decrease)
2001 & 2005 Certificates of Participation $ 4,690,000 $ 5,235,000 $ (545,000)
Subscription liabilities 145,949 - 145,949
Compensated absences 1,191,160 1,079,468 111,692
Total $ 6,027,109 $ 6,314,468 $ (287,359)
The $545,000 decrease in the COP amount is due to scheduled debt service payments, the new reporting of the
Subscription liabilities, and the $116,692 increase in Compensated Absences is due to higher number of personnel
compare to last year, and personnel earning more leaves hours than used.
Additional information on outstanding debt is presented in Note 9 to the Basic Financial Statements.
CONTACTING THE TOWN’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, taxpayers, customers, investors, and creditors with a general
overview of the Town’s finances and to show the Town’s accountability for the money it receives. If you have questions
about this report or need additional financial information, contact the Town’s Finance Department at the Town of
Danville, 510 La Gonda Way, Danville, California 94526-1740
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BASIC FINANCIAL STATEMENTS
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GOVERNMENT-WIDE FINANCIAL STATEMENTS
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Governmental
Activities
ASSETS
Current assets:
Cash and investments (Note 3)75,565,069$
Receivables (net of allowances):
Accounts 2,335,734
Due from Successor Agency within one year (Note 7)1,100,000
Leases (Note 4)528,284
Interest 378,037
Total receivables 4,342,055
Prepaid items 156,060
Total current assets 80,063,184
Noncurrent assets:
Restricted cash and investments (Note 3):
Held with fiscal agent 1,641,685
Held by the Town 35,628,391
Total restricted cash and investments 37,270,076
Due from Successor Agency in more than one year (Note 7) 1,759,401
Leases receivable (Note 4)3,222,797
Capital assets (Note 5):
Nondepreciable 158,508,490
Depreciable/amortizable, net 34,421,380
Total capital assets, net 192,929,870
Total noncurrent assets 235,182,144
Total assets 315,245,328
LIABILITIESCurrent liabilities:
Accounts payable 6,970,892
Accrued wages payable 273,684
Retention payable 181,337
Deposits payable 191,895
Interest payable 65,781
Claims liabilities (Note 12)31,809
Unearned revenue (Note 8)6,915,273
Long-term debt - due within one year (Note 9)771,885
Total current liabilities 15,402,556
Noncurrent liabilities:
Long-term debt - due in more than one year: (Note 9)
Certificates of participation 4,110,000
Subscription liability 74,064
Compensated absences 1,071,160
Total noncurrent liabilities 5,255,224
Total liabilities 20,657,780
DEFERRED INFLOWS OF RESOURCESLease-related deferred inflows of resources (Note 4)3,616,086
Total deferred inflows of resources 3,616,086
NET POSITIONNet investment in capital assets 188,058,533 Restricted for:
Capital projects 5,434,956 Debt service 1,641,685 Assessment districts 1,807,139Transportation13,207,208 Public safety 683,812 Housing 1,923,793 Community development 367,048 Public works 11,153,135 Other programs 282,150
Total restricted 36,500,926
Unrestricted 66,412,003
Total net position 290,971,462$
Town of Danville
Statement of Net Position
June 30, 2023
See accompanying Notes to the Basic Financial Statements.
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Net (Expense)
Revenue and
Changes in
Net Position
Operating Capital
Charges for Grants and Grants and Governmental
Functions/Programs Expenses Services Contributions Contributions Activities
Governmental activities:
General government 2,999,255$ 15,923$ 68,488$ -$ (2,914,844)$
Police services 10,594,467 173,594 190,691 - (10,230,182)
Maintenance services
and lighting and landscape 11,973,823 3,611,916 - 27,668 (8,334,239)
Development services 6,931,034 4,386,782 2,106,827 5,022,809 4,585,384
Administrative services 3,798,969 297,553 - - (3,501,416)
Recreation, arts, & community services 4,096,414 1,719,893 1,053 - (2,375,468)
Interest expense 234,055 - - - (234,055)
Total governmental activities 40,628,017$ 10,205,661$ 2,367,059$ 5,050,477$ (23,004,820)
General revenues:
Taxes:
Property 18,937,827
Sales 7,467,848
Motor vehicle license fee 44,757
Franchise 3,383,163
Other 341,405
Total taxes 30,175,000
Investment earnings (losses) (Note 3)998,731
Miscellaneous 2,501,924
Reimbursement from Successor Agency (Note 7)825,175
Total general revenues 34,500,830
Change in net position 11,496,010
Net position - beginning of year, as restated (Note 15)279,475,452
Net position - end of year 290,971,462$
Program Revenues
Town of Danville
Statement of Activities
For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements.
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FUND FINANCIAL STATEMENTS
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GOVERNMENTAL FUND FINANCIAL STATEMENTS
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Town of Danville
Governmental Fund Financial Statements
27
General Fund
The General Fund is the general operating fund of the Town. It is used to account for all financial resources except
those required to be accounted for in another fund. The major revenue sources for this fund are property taxes, sales
taxes, unrestricted revenues from the State, fines and forfeitures and interest income. Expenditures are made for
administration, legislation, public safety, parks and recreation and other services.
Lighting and Landscaping Special Revenue Fund
Assessments paid by property owners who receive street lighting services and assessments paid by all property
owners for landscape and park maintenance are received into this Fund. The income is used to pay energy costs for
the street lighting system, community roadside, median and park landscape costs.
Regional Traffic Impact Fees Fund
Development impact fees are collected for local, sub-regional and regional traffic improvements. Sub-regional and
regional fees are collected on behalf of other agencies and distributed to the lead agency for project construction.
American Rescue Plan Act Special Revenue Fund
This fund is used to track the revenues and expenditures of the American Rescue Plan Act funding received by the
Town.
Capital Improvement Capital Projects Fund
This Fund receives contributions from the General Fund for future capital improvements, in accordance with the
Town's Capital Improvement Program.
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General Fund
Lighting and
Landscape Special
Revenue Fund
Regional Traffic
Impact Fees
Special Revenue
Fund
American Rescue
Plan Act
Special Revenue
Fund
ASSETS
Cash and investments $ 28,919,790 $ 5,225,225 $ 4,454,841 $ 5,941,155
Cash and investments with fiscal agent 827,765 - - -
Receivables (net of allowances):
Accounts 1,631,340 43,962 7,412 -
Leases 3,751,081 - - -
Due from Successor Agency of former CDA 2,859,401 - - -
Interest 197,775 15,256 9,126 -
Prepaid items 156,060 - - -
Total assets $ 38,343,212 $ 5,284,443 $ 4,471,379 $ 5,941,155
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable $ 4,102,497 $ 365,144 $ - $ 94,395
Accrued wages payable 181,103 32,616 - -
Retention payable - - 17,038 -
Deposits payable 149,225 - - -
Claims liabilities 31,809 - - -
Unearned revenue 962,103 59,734 - 5,845,830
Total liabilities 5,426,737 457,494 17,038 5,940,225
Deferred Inflows of Resources:
Unavailable revenue 359,727 - - -
Lease-related deferred inflows of resources 3,616,086 - - -
Total deferred inflows of resources 3,975,813 - - -
Fund Balances:
Nonspendable 1,915,461 - - -
Restricted 827,765 1,807,139 4,454,341 930
Committed 24,829,286 - - -
Assigned 268,150 3,019,810 - -
Unassigned 1,100,000 - - -
Total fund balances 28,940,662 4,826,949 4,454,341 930
Total liabilities, deferred inflows of resources and
fund balances $ 38,343,212 $ 5,284,443 $ 4,471,379 $ 5,941,155
(Continued)
Major Funds
Town of Danville
Governmental Funds
Balance Sheet
June 30, 2023
See accompanying Notes to the Basic Financial Statements.
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Major Funds
Capital
Improvement
Capital Projects
Fund
Non-Major
Governmental
Funds
Total
Governmental
Funds
ASSETS
Cash and investments $ 28,243,777 $ 38,408,672 $ 111,193,460
Cash and investments with fiscal agent - 813,920 1,641,685
Receivables (net of allowances):
Accounts 120,918 532,102 2,335,734
Leases - - 3,751,081
Due from Successor Agency of former CDA - - 2,859,401
Interest 78,843 77,037 378,037
Prepaid items - - 156,060
Total assets $ 28,443,538 $ 39,831,731 $ 122,315,458
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable $ 555,326 $ 1,853,530 $ 6,970,892
Accrued wages payable 1,622 58,343 273,684
Retention payable 111,289 53,010 181,337
Deposits payable - 42,670 191,895
Claims liabilities - - 31,809
Unearned revenue - 47,606 6,915,273
Total liabilities 668,237 2,055,159 14,564,890
Deferred Inflows of Resources:
Unavailable revenue - - 359,727
Lease-related deferred inflows of resources - - 3,616,086
Total deferred inflows of resources - - 3,975,813
Fund Balances:
Nonspendable - - 1,915,461
Restricted - 28,596,831 35,687,006
Committed 27,775,301 9,179,741 61,784,328
Assigned - - 3,287,960
Unassigned - - 1,100,000
Total fund balances 27,775,301 37,776,572 103,774,755
Total liabilities, deferred inflows of resources and
fund balances $ 28,443,538 $ 39,831,731 $ 122,315,458
(Concluded)
June 30, 2023
Balance Sheet (Continued)
Governmental Funds
Town of Danville
See accompanying Notes to the Basic Financial Statements.
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Total Fund Balances - Total Governmental Funds $ 103,774,755
Amounts reported for governmental activities in the Statement of Net Position are different because:
Capital assets used in governmental activities are not current financial resources
and therefore are not reported in the Governmental Funds Balance Sheet.
Non-depreciable capital assets 158,508,490
Depreciable/amortizable capital assets, net 34,421,380
Total capital assets 192,929,870
Interest payable on long-term debt does not require current financial resources. Therefore, interest payable is not
reported as a liability in the Governmental Funds Balance Sheet. (65,781)
Unavailable revenues recorded in Governmental Fund Financial Statements resulting from activities
in which revenues were earned but were not available are reclassified as revenues in the
Government-Wide Financial Statements. 359,727
Long-term liabilities are not due and payable in the current period and therefore
they are not reported in the Governmental Funds Balance Sheet.
Long-term debt due within one year (771,885)
Long-term liabilities - due in more than one year:
- Certificates of participation (4,110,000)
- Subscription liability (74,064)
- Compensated absences payable (1,071,160)
Total long-term debt (6,027,109)
Net Position of Governmental Activities 290,971,462$
Town of Danville
Reconciliation of Governmental Funds Balance Sheet to the
Government-Wide Statement of Net Position
June 30, 2023
See accompanying Notes to the Basic Financial Statements.
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General Fund
Lighting and
Landscape Special
Revenue Fund
Regional Traffic
Impact Fees
Special Revenue
Fund
American Rescue
Plan Act
Special Revenue
Fund
REVENUES:
Property taxes $ 18,937,827 $ - $ - $ -
Sales taxes 7,467,848 - - -
Special assessments - 3,044,932 - -
Other taxes 2,483,194 - - -
Charges for services 2,017,446 - - -
Licenses and permits 341,405 - - -
Development fees - - 166,362 -
Intergovernmental 2,537 - - 3,455,415
Fines and forfeitures 105,729 - - -
Use of money and property 1,212,003 52,119 39,812 -
Reimbursement from Successor Agency 825,175 - - -
Miscellaneous 794,763 144,627 - -
Total revenues 34,187,927 3,241,678 206,174 3,455,415
EXPENDITURES:
Current:
General government 2,982,536 - - -
Police services 9,927,832 292,039 - -
Maintenance services 2,759,549 59,205 - -
Lighting and landscape - 3,913,128 - -
Development services 923,405 6,045 160,617 356,378
Administrative services 3,611,933 2,659 2,034 -
Recreation, arts, & community services 3,728,310 - - -
Capital outlay 271,069 - - 3,099,037
Debt service:
Principal 615,307 - - -
Interest 243,866 - - -
Total expenditures 25,063,807 4,273,076 162,651 3,455,415
REVENUES OVER (UNDER) EXPENDITURES 9,124,120 (1,031,398) 43,523 -
OTHER FINANCING SOURCES (USES):
Proceeds from sale of property - - - -
Proceeds from issuance of debt 216,256 - - -
Transfers in - 1,300,000 - -
Transfers out (8,076,594) - - -
Total financing sources (uses) (7,860,338) 1,300,000 - -
NET CHANGE IN FUND BALANCES 1,263,782 268,602 43,523 -
FUND BALANCES:
Beginning of year 27,676,880 4,558,347 4,410,818 930
End of year $ 28,940,662 $ 4,826,949 $ 4,454,341 $ 930
(Continued)
Major Funds
Town of Danville
Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements.
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Major Funds
Capital
Improvement
Capital Projects
Fund
Non-Major
Governmental
Funds
Total
Governmental
Funds
REVENUES:
Property taxes $ - $ - $ 18,937,827
Sales taxes - - 7,467,848
Special assessments - 556,698 3,601,630
Other taxes - 3,004,508 5,487,702
Charges for services - 1,118,955 3,136,401
Licenses and permits - 5,667 347,072
Development fees - 3,077,078 3,243,440
Intergovernmental 417,470 1,358,032 5,233,454
Fines and forfeitures - - 105,729
Use of money and property 305,614 288,078 1,897,626
Reimbursement from Successor Agency - - 825,175
Miscellaneous 217,385 81,518 1,238,293
Total revenues 940,469 9,490,534 51,522,197
EXPENDITURES:
Current:
General government - 500 2,983,036
Police services 476 217,619 10,437,966
Maintenance services 1,466,329 2,536,017 6,821,100
Lighting and landscape - - 3,913,128
Development services 1,161,448 4,084,323 6,692,216
Administrative services 14,694 47,238 3,678,558
Recreation, arts, & community services - 103,135 3,831,445
Capital outlay 1,538,281 1,185,869 6,094,256
Debt service:
Principal - - 615,307
Interest - - 243,866
Total expenditures 4,181,228 8,174,701 45,310,878
REVENUES OVER (UNDER) EXPENDITURES (3,240,759) 1,315,833 6,211,319
OTHER FINANCING SOURCES (USES):
Proceeds from sale of property - 600,000 600,000
Proceeds from issuance of debt - - 216,256
Transfers in 5,701,594 1,125,000 8,126,594
Transfers out - (50,000) (8,126,594)
Total financing sources (uses) 5,701,594 1,675,000 816,256
NET CHANGE IN FUND BALANCES 2,460,835 2,990,833 7,027,575
FUND BALANCES:
Beginning of year 25,314,466 34,785,739 96,747,180
End of year $ 27,775,301 $ 37,776,572 $ 103,774,755
(Concluded)
Town of Danville
Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued)
For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements.
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Net Change in Fund Balances - Total Governmental Funds 7,027,575$
Amounts reported for governmental activities in the Statement of Activities are different because:
Governmental Funds report capital outlay as expenditures. However, in the Government-Wide Statement of Activities the
cost of those assets is allocated over their estimated useful lives as depreciation/amortization expense. This is the amount
of capital assets recorded in the current period.6,094,256
Depreciation/amortization expense on capital assets is reported in the Government-Wide Statement of Activities, but they
do not require the use of current financial resources. Therefore, depreciation/amortization expense is not reported as
expenditures in Governmental Funds. (1,924,821)
Revenues that have not met the revenue recognition criteria in the Fund Financial Statements are recognized as revenue in
the Government-Wide Financial Statements.1,830
Long-term compensated absences are reported in the Government-Wide Statement of Activities, but they do not require
the use of current financial resources. Therefore, long-term compensated absences are not reported as expenditures in
Governmental Funds. The following amount represents the change in long-term compensated absences from the prior year. (111,692)
Repayment of bond principal reduces long-term liabilities in the Government-Wide Statement of Net Position.
Long-term debt repayments:
- Certificates of participation 545,000
- Subscription liablity 70,307
Issuance of debt provided current financial resources in the governmental funds, but was converted to long-term debt on
the Government-Wide Financial Statements. (216,256)
Interest expense on long-term debt is reported in the Government-Wide Statement of Activities but they do not require the
use of current financial resources. Therefore, interest expense is not reported as expenditures in Governmental Funds. The
following amount represents the change in accrued interest from the prior year.9,811
Change in Net Position of Governmental Activities 11,496,010$
Town of Danville
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in
Fund Balances to Government-Wide Statement of Activities
For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements.
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FIDUCIARY FUND FINANCIAL STATEMENTS
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Town of Danville
Fiduciary Fund Financial Statements
37
TRUST FUND
Successor Agency Trust Fund
The Successor Agency to the former Community Development Agency (CDA) of the Town of Danville was
established as a result of the passage of Assembly Bill x1 26, which dissolved all Redevelopment Agencies in the
State of California effective February 1, 2012. On January 10, 2012, pursuant to Health and Safety Code Section
34173, the Town Council declared that the Town of Danville would act in a special limited capacity as Successor
Agency for the dissolved Community Development Agency of the Town of Danville, effective February 1, 2012. The
Successor Agency is responsible for day to day administration of the former CDA, including identification and
payment of enforceable and recognized obligations of the former CDA, and disbursement of available assets. An
Oversight board, consisting of 7 members, was appointed to supervise the Successor Agency's wind down of the
former CDA.
CUSTODIAL FUNDS
Custodial Fund
This Fund is comprised of assets that are not held in a trust or equivalent arrangement that are held temporarily by the
Town on behalf of others.
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Successor
Agency
Private Purpose
Trust Fund Custodial Fund
ASSETS
Cash and investments 839,192$ 2,008,924$
Cash and investments with fiscal agents 386,074 298,625
Total assets 1,225,266 2,307,549
LIABILITIES
Accounts payable - 362,070
Loan payable to Town (Note 7)2,859,401 -
Loan payable, due within one year 230,000 -
Loan payable, due in more than one year 1,470,000 -
Interest payable 393,350 -
Deposits - 610,248
Total liabilities 4,952,751 972,318
NET POSITION (DEFICIT)
Restricted for individuals, organizations, and other governments - 1,335,231
Unrestricted (deficit)(3,727,485) -
Total net position (deficit)(3,727,485)$ 1,335,231$
Town of Danville
Fiduciary Activities
Statement of Fiduciary Net Position
June 30, 2023
See accompanying Notes to the Basic Financial Statements.
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Successor
Agency
Private Purpose
Trust Fund Custodial Fund
ADDITIONS:
Property tax receipts 2,505,177$ -$
Miscellaneous 10,902 628,119
Total additions 2,516,079 628,119
DEDUCTIONS:
Amount allocated to General Fund for principal payment 755,000 -
Amount allocated to General Fund for interest payment 70,175 -
Interest 323,175 -
Other 23,857 628,117
Total deductions 1,172,207 628,117
Changes in net position 1,343,872 2
NET POSITION (deficit):
Beginning of year (5,071,357) 1,335,229
End of year (3,727,485)$ 1,335,231$
Town of Danville
Fiduciary Activities
Statement of Changes in Fiduciary Net Position
For the Year Ended June 30, 2023
See accompanying Notes to the Basic Financial Statements.
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NOTES TO THE BASIC FINANCIAL STATEMENTS
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Town of Danville
Index to Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
43
Page
Note 1 – Reporting Entity……………………………… .................................................................................... 45
Note 2 – Summary of Significant Accounting Policies ...................................................................................... 46
A. Basis of Presentation, Basis of Accounting, and Measurement Focus ..................................................... 46
B. Cash and Investments ................................................................................................................................ 48
C. Cash and Investments with Fiscal Agent .................................................................................................. 49
D. Prepaid items ............................................................................................................................................. 49
E. Leases Receivable ..................................................................................................................................... 49
F. Land Held for Redevelopment .................................................................................................................. 50
G. Capital Assets ............................................................................................................................................ 50
H. Unearned Revenues ................................................................................................................................... 52
I. Compensated Absences ............................................................................................................................. 52
J. Long-Term Debt ....................................................................................................................................... 52
K. Subscription-Based Information Technology Arrangements (SBITAs) ................................................... 52
L. Fund Balance ............................................................................................................................................ 53
M. Net Position ............................................................................................................................................... 54
N. Spending Policies ...................................................................................................................................... 54
O. Property Taxes .......................................................................................................................................... 54
P. Use of Accounting Estimates .................................................................................................................... 54
Q. Implementation of New GASB Pronouncements ..................................................................................... 55
R. Upcoming Government Accounting Standards Implementation .............................................................. 56
Note 3 – Cash and Investments ........................................................................................................................... 56
A. Demand Deposits ...................................................................................................................................... 57
B. Investments ............................................................................................................................................... 58
C. External Investment Pool .......................................................................................................................... 59
D. Restricted Cash and Investments Held with Fiscal Agent ........................................................................ 60
E. Risk Disclosures ........................................................................................................................................ 60
Note 4 – Leases Receivable and Lease-Related Deferred Inflows of Resources ............................................. 62
Note 5 – Capital Assets ........................................................................................................................................ 63
A. Governmental Activities ........................................................................................................................... 63
Note 6 – Interfund Transactions ......................................................................................................................... 65
A. Transfers In/Out ........................................................................................................................................ 65
Note 7 – Loans Receivable from Successor Agency to the
Former Community Development Agency ...................................................................................... 65
A. Successor Agency (SA) Cooperative Agreement Loan Receivable ......................................................... 66
Note 8 – Unearned Revenue ................................................................................................................................ 66
Note 9 – Long-Term Obligations ........................................................................................................................ 67
A. Governmental Activities ........................................................................................................................... 67
B. Fiduciary Fund Financial Statements ........................................................................................................ 69
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Town of Danville
Index to Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
44
Page
Note 10 – Defined Contribution Pension Plan ................................................................................................... 70
A. Section 401(a) Qualified Defined Contribution Pension Plan .................................................................. 70
B. Section 415(m) Benefit Restoration Plan .................................................................................................. 70
Note 11 – Fund Balance Classification ............................................................................................................... 71
Note 12 – Risk Management ................................................................................................................................ 72
Note 13 – Commitments and Contingencies ...................................................................................................... 73
Note 14 – Other Required Disclosures ............................................................................................................... 74
Note 15 – Prior Period Adjustments ................................................................................................................... 74
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Town of Danville
Notes to the Basic Financial Statements
For the Year Ended June 30, 2023
45
Note 1 – Reporting Entity
The Town of Danville (the “Town”) is a largely residential community located in the San Ramon Valley area of
Contra Costa County, California. The Town was incorporated as a municipal corporation in 1982, and encompasses
eighteen square miles with a population of 42,823.
The Town operates under the Council-Manager form of government, with five elected Council members served by a
full-time Town Manager and staff. The Town’s staff of 128 employees, as well as 30 County Sheriff’s Department
employees under contract with the Town, are responsible for the following Town services:
Public Safety – The Town provides round-the-clock police services from a central station, using trained
personnel provided under contract with the County Sheriff’s Department.
Streets and Roads – The Town builds and maintains its streets, curbs, gutters and related public property
using Town employees. Major projects may be contracted to reduce costs.
Parks and recreation, public improvements, planning, zoning and other services are provided by Town
employees.
Maintenance – In addition to Town staff, the Town employs varying numbers of seasonal personnel for
maintenance and recreation services.
The accompanying financial statements include the financial activities of the Town (the primary government) and its
component units. The component units discussed below are included in the Town’s reporting entity because of the
significance of their operational or financial relationships with the Town, including the Town Council, which acts as
the governing board. In addition, Town staff performs all administrative and accounting functions for these entities,
and these entities provide their services entirely to the Town. These blended component units, although legally
separate entities, are, in substance, part of the Town’s operations.
Town of Danville Financing Authority – The Town of Danville Financing Authority (the “Authority”) is a
joint powers authority that was organized by the Town and the former Danville Community Development
Agency of the Town of Danville (“CDA”) on December 7, 1993, under the laws of the State of California. The
Authority was organized to provide financial assistance to the Town and former CDA for public improvements
for the benefit of the residents of the Town and the surrounding areas. Administrative and related normal
business expenditures incurred in the day-to-day operations of the Authority are provided by the Town.
Town of Danville Lighting and Landscaping Assessment District - The Lighting and Landscape Assessment
District Fund (the “District”) of the Town was formed in 1983 to provide a funding source for the operation,
maintenance and servicing of landscaping, street lighting and Town park facilities within the District. The
District is responsible for Town improvements including future improvements located within incorporated limits
of the Town. Because of varying degrees of operation and maintenance for each improvement type, the District is
separated into four zones: landscaping improvements (Zones A and B), street lighting (Zone C) and Town parks
(Zone D).
The Town created a special revenue fund to account for each zone’s assessment revenues and expenditures. The
District is fully integrated within the Town, which performs all maintenance, administrative and accounting
functions.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
46
Note 2 – Summary of Significant Accounting Policies
A. Basis of Presentation, Basis of Accounting, and Measurement Focus
The basic financial statements of the Town have been prepared in conformity with accounting principles
generally accepted of the United States of America ("U.S. GAAP") as applied to governmental agencies. The
Governmental Accounting Standards Board ("GASB") is the accepted standard setting body for establishing
governmental accounting and financial reporting principles.
The accounts of the Town are organized on the basis of funds, each of which is considered a separate accounting
entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise
its assets, liabilities, fund equity, revenues, and expenditures or expenses, as appropriate. Governmental
resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be
spent and the means by which spending activities are controlled.
The Statement of Net Position/Balance Sheet reports separate sections for deferred outflows of resources and
deferred inflows of resources, when applicable.
Deferred Outflows of Resources represent outflows of resources (consumption of net assets) that apply to
future periods and that, therefore, will not be recognized as an expense until that time.
Deferred Inflows of Resources represent inflows of resources (acquisition of net assets) that apply to future
periods and that, therefore, are not recognized as revenue until that time.
Government – Wide Financial Statements
The Town’s Government-Wide Financial Statements include a Statement of Net Position and a Statement of
Activities. These statements present summaries of governmental activities for the Town. Fiduciary activities of
the Town are not included in these statements.
These financial statements are presented on an “economic resources” measurement focus and the accrual basis
of accounting. Accordingly, all of the Town’s assets and liabilities, including capital assets, as well as
infrastructure assets, and long-term liabilities, are included in the accompanying Statement of Net Position. The
Statement of Activities presents changes in net position. Under the accrual basis of accounting, revenues are
recognized in the period in which they are earned while expenses are recognized in the period in which the
liability is incurred.
Certain types of transactions are reported as program revenues for the Town in three categories:
Charges for services
Operating grants and contributions
Capital grants and contributions
Certain eliminations have been made in regards to interfund activities, payables and receivables. All internal
balances in the Statement of Net Position have been eliminated. The following interfund activities have been
eliminated:
Due To/From Other Funds
Transfers In/Out
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
47
Note 2 – Summary of Significant Accounting Policies (Continued)
A. Basis of Presentation, Basis of Accounting, and Measurement Focus (Continued)
Governmental Fund Financial Statements
All governmental funds are accounted for on a spending or “current financial resources” measurement focus and
the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on
the Balance Sheet. The Statement of Revenues, Expenditures and Changes in Fund Balances presents increases
(revenues and other financing sources) and decreases (expenditures and other financing uses) in net current
assets. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in
which they become both measurable and available to finance expenditures of the current period.
Revenues are recognized as soon as they are both “measurable” and “available.” Revenues are considered to be
available when they are collectible within the current period as soon as enough thereafter to pay liabilities of the
current period. For this purpose, the Town considers revenues to be available if they are collected within 60 days
of the end of the current fiscal period. The primary revenue sources, which have been treated as susceptible to
accrual by the Town, are property tax, sales tax, intergovernmental revenues and other taxes. Expenditures are
recorded in the accounting period in which the related fund liability is incurred.
The Reconciliation of the Fund Financial Statements to the Government-Wide Financial Statements is provided
to explain the differences.
The Town reports the following major Governmental Funds:
General Fund
The General Fund is the general operating fund of the Town. It is used to account for all financial resources
except those required to be accounted for in another fund. The major revenue sources for this fund are
property taxes, sales taxes, unrestricted revenues from the State, licenses and permits, fines and forfeitures
and interest income. Expenditures are made for administration, legislation, public safety, parks and recreation
and other services.
Lighting and Landscaping Special Revenue Fund
Assessments paid by property owners who receive street lighting services and assessments paid by all
property owners for landscape and park maintenance are received into this Fund. The income is used to pay
energy costs for the street lighting system and community roadside, median and park landscape costs.
Regional Traffic Impact Fees Special Revenue Fund
Development impact fees are collected for local, sub-regional and regional traffic improvements. Sub-
regional and regional fees are collected on behalf of other agencies and distributed to the lead agency for
project construction.
American Rescue Plan Act Special Revenue Fund
This fund is used to record the revenues and expenditures of proceeds from the American Rescue Plan Act.
Capital Improvement Capital Projects Fund
This Fund receives contributions from the General Fund for future capital improvements, in accordance with
the Town’s Capital Improvement Program.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
48
Note 2 – Summary of Significant Accounting Policies (Continued)
A. Basis of Presentation, Basis of Accounting, and Measurement Focus (Continued)
Fiduciary Fund Financial Statements
Fiduciary Fund Financial Statements include a Statement of Fiduciary Net Position and a Statement of Changes
in Fiduciary Net Position. The Town’s Fiduciary Funds represent a Private Purpose Trust Fund and a Custodial
Fund. The Fiduciary Funds are accounted for using the accrual basis of accounting.
The Town reports the following Private Purpose Trust Fund:
Successor Agency Trust Fund
The Successor Agency to the former Community Development Agency (“CDA”) of the Town was established
as a result of the passage of Assembly Bill x1 26, which dissolved all Redevelopment Agencies in the State of
California effective February 1, 2012. On January 10, 2012 pursuant to Health and Safety Code Section 34173,
the Town Council declared that the Town would act in a special limited capacity as Successor Agency for the
dissolved CDA, effective February 1, 2012. The Successor Agency is responsible for day to day administration
of the former CDA, including identification and payment of enforceable and recognized obligations of the
former CDA, and disbursement of available assets. An Oversight board, consisting of seven members, was
appointed to supervise the Successor Agency’s wind down of the former CDA.
The Town reports the following Custodial Fund:
Custodial Fund
This Fund is comprised of assets that are not held in a trust or equivalent arrangement that are held temporarily
by the Town on behalf of others.
B. Cash and Investments
The Town pools its available cash for investment purposes. The Town’s cash and cash equivalents are considered
to be cash on hand, demand deposits, and short-term investments with original maturity of three months or less
from the date of acquisition. Cash and cash equivalents are combined with investments and displayed as cash and
investments.
Certain disclosure requirements for deposits and investment risks were made in the following areas:
Interest rate risk
Credit risk
Overall
Custodial credit risk
Concentrations of credit risk
In addition, other disclosures are specified including use of certain methods to present deposits and investments,
highly sensitive investments, credit quality at year-end and other disclosures.
Highly liquid market investments with maturities of one year or less at time of purchase are stated at amortized
cost. All other investments are stated at fair value. Market value is used as fair value for those securities for
which market quotations are readily available.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
49
Note 2 – Summary of Significant Accounting Policies (Continued)
B. Cash and Investments (Continued)
U.S. GAAP defines fair value, establishes a framework for measuring fair value and establishes disclosures about
fair value measurement. Investments, unless otherwise specified, recorded at fair value in the Statements of Net
Position, are categorized based upon the level of judgment associated with the inputs used to measure their fair
value. Levels of inputs are as follows:
Level 1 – Inputs are unadjusted, quoted prices for identical the asset or liability in active markets at the
measurement date.
Level 2 – Inputs, other than quoted prices included in Level 1, that are observable for the asset or liability
through corroboration with market data at the measurement date.
Level 3 – Unobservable inputs that reflect management’s best estimate of what market participants would
use in pricing the asset or liability at the measurement date.
The Town maintains a cash and investment pool, which includes cash balances and authorized investments of all
funds, which the Town Treasurer invests to enhance interest earnings. The pooled interest earned is allocated to
each fund based on its average monthly cash and investment balances.
The Town participates in an investment pool managed by the State of California titled Local Agency Investment
Fund (“LAIF”), which has invested a portion of the pool funds in structured notes and asset-backed securities.
LAIF’s investments are subject to credit risk with the full faith and credit of the State of California collateralizing
these investments. In addition, these structured notes and asset-backed securities are subject to market risk with
changes in interest rates.
C. Cash and Investments with Fiscal Agents
Certain restricted cash and investments are held by fiscal agents for the redemption of bonded debt and for
acquisition and construction of capital projects.
D. Prepaid Items
Payments made to vendors that will benefit periods beyond the fiscal year end are recorded as prepaid items.
E. Leases Receivable
The Town is a lessor for leases of buildings and land and recognizes leases receivable and lease-related deferred
inflows of resources in the financial statements. Variable payments based on future performance or usage of the
underlying asset are not included in the measurement of the lease receivable.
At the commencement of a lease, the lease receivable is measured at the net present value of payments expected
to be received during the lease term. Subsequently, the lease receivable is reduced by the principal portion of
lease payments received. The deferred inflows of resources are initially measured as the initial amount of the
lease receivable, adjusted for lease payments received at or before the lease commencement date. Subsequently,
the deferred inflows of resources are recognized as revenue over the life of the lease term in a systematic and
rational method.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
50
Note 2 – Summary of Significant Accounting Policies (Continued)
E. Leases Receivable (Continued)
Key estimates and judgments include how the Town determines (1) the discount rate it uses to discount the
expected lease receipts to present value, (2) lease term, and (3) lease receipts.
The Town uses the average of the LAIF rate and the incremental borrowing rate (IBR) provided by the
Town’s financial institution at July 1, 2021 for existing leases or the current rate at the time a new lease is
executed.
The lease term includes the noncancelable period of the lease plus any option periods that are likely to be
exercised.
Lease receipts included in the measurement of the lease receivable are composed of fixed payments from the
lessee.
The Town monitors changes in circumstances that would require a remeasurement of its lease receivables and
will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to
significantly affect the amount of the lease receivable.
F. Land Held for Redevelopment
The Successor Agency of the Town holds one parcel of land acquired by the former CDA as part of that entity's
primary purpose before dissolution to develop or redevelop Town properties. The property was deeded to the
Town on March 28, 2016 for capital projects.
G. Capital Assets
Capital assets, which include lands, buildings, improvements, furniture, equipment and infrastructure assets (e.g.,
roads, bridges, signal systems and similar items) are reported in the applicable governmental activities in the
Government-Wide Financial Statements.
The Town defines infrastructure as the primary physical assets that allow the Town to conduct its business. The
Town's infrastructure assets include:
Street system
Street signal system
Park and recreation lands and improvement systems
Storm water conveyance system
Bridges
Buildings combined with site amenities such as parking and landscaped areas
Each major infrastructure system can be divided into subsystems. For example, the street system can be
subdivided into the following:
Pavement
Medians
Curb and gutters
Landscaping and land
The detail of these subsystems is not presented in the basic financial statements. However, the operating
departments maintain information regarding the subsystems.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
51
Note 2 – Summary of Significant Accounting Policies (Continued)
G. Capital Assets (Continued)
Capital assets are recorded at historical cost or estimated historical cost if actual cost was not available. Donated
assets are valued at their estimated acquisition value on the date donated. Town policy has set the capitalization
thresholds for reporting capital assets at the following:
All buildings (no threshold)
$20,000 for roads and bridges/box culverts
$10,000 for traffic signals and storm drain pipes
$5,000 for furniture, fixtures, equipment, catch basins and manholes
Depreciation is recorded on a straight-line basis over the useful lives of all other assets, except for infrastructure,
as follows:
Building and parking lots 40 years
Park improvements 5 years
Furnitures and equipment 3 - 10 years
Infrastructure 30 - 50 years
The Town elected to use the Modified Approach as defined by GASB Statement No. 34 for infrastructure
reporting of its streets, concrete and asphalt pavements. This condition assessment will be performed every three
years. Each homogeneous segment of Town-owned street was assigned a physical condition based on potential
defects. A Pavement Condition Index (PCI) was assigned to each street segment. The PCI is expressed in a
continuous scale from 0 to 100, where 0 is assigned to the least acceptable physical condition and 100 is assigned
to segments of street that have the physical characteristics of a new street.
The following conditions were defined:
Very good condition 70 - 100
Good condition 50 - 69
Poor condition 26 - 49
Very poor condition 0 - 25
The Town's policy relative to maintaining the street assets is to achieve an average rating of 65-70 for all street
segments. This acceptable rating allows minor cracking and raveling of the pavement along with minor
roughness that could be noticeable to drivers traveling at the posted speeds.
For all other infrastructure systems, the Town elected to use the Basic Approach as defined by GASB Statement
No. 34. The Town appraised its own infrastructure as of July 1, 2001 and has completed an internal update for
June 30, 2023. The 2001 appraisal determined the original cost, which is defined as the actual cost to acquire new
property in accordance with market prices at the time of first construction/acquisition. Original costs were
developed in one of three ways:
1. Historical records;
2. Standard unit costs appropriate for the construction/acquisition date;
3. Present cost indexed by a reciprocal factor of the price increase from the construction/acquisition date to
the current date.
The accumulated depreciation from the date of construction/acquisition to the current date was computed using
industry accepted life expectancies for each infrastructure subsystem. The book value was then computed by
deducting the accumulated depreciation from the original cost.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
52
Note 2 – Summary of Significant Accounting Policies (Continued)
H. Unearned Revenues
For the Government-wide Financial Statements, unearned revenue is recognized in connection with a transaction
before the earnings process is completed.
For the Governmental Fund Financial Statements, unearned revenues arise when potential revenues do not meet
both the "measurable" and "available" criteria for recognition in the current period. Unearned revenues also arise
when the government receives resources before it has a legal claim to them, as when grant monies are received
prior to incurring qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met
or when the government has a legal claim to the resources, unearned revenues are removed from the combined
balance sheet and revenue is recognized.
I. Compensated Absences
Compensated absences include general leave, which covers vacations up to the cap amount based on years of
services and hire date, and is accounted for in accordance with U.S. GAAP. It is the policy of the Town to pay
when an employee retires or terminates. This amount is funded at a level that recognizes each employee’s ability
to request leave during employment and is included as a liability in the Government-wide Financial Statements.
Compensated absences liabilities of governmental activities are generally liquidated by the General Fund (74%),
Building and Planning Special Revenue Fund (13%), and Other Special Revenue Funds (13%).
J. Long-Term Debt
In the Government-wide Financial Statements, long-term debt is reported as liabilities. Bonds payable are
reported net of the applicable bond premium or discount.
For Governmental Fund Financial Statements, bond premiums and discounts, as well as bond issuance costs, are
recognized during the current period. Bond proceeds are reported as other financing sources net of the applicable
premium or discount. Issuance costs, whether or not withheld from the actual net proceeds received, are reported
as debt service expenditures.
K. Subscription-Based Information Technology Arrangements (SBITAs)
The Town has a policy to recognize a SBITA liability and a right‐to‐use subscription asset (SBITA asset) in our
financial statements with an initial, individual value of $10,000 or more with a subscription term greater than one
year.
At the commencement of a subscription, when the subscription asset is placed into service, the SBITA liability is
measured at the present value of payments expected to be made during the subscription term. Future subscription
payments are discounted using the Town's incremental borrowing rate and the Town recognizes amortization of
the discount on the subscription liability as interest expense in subsequent financial reporting periods.
SBITA assets are measured as the sum of the initial subscription liability, payments made to the SBITA vendor
before the commencement of the lease term, and capitalizable implementation costs less any incentives received
from the SBITA vendor at or before the commencement of the subscription term. Subscription assets are
amortized using the straight-line method over the subscription term.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
53
Note 2 – Summary of Significant Accounting Policies (Continued)
K. Subscription-Based Information Technology Arrangements (SBITAs) (Continued)
Key estimates and judgments related to SBITAs include how the Town determines (1) the discount rate it uses to
discount the expected subscription payments to present value, (2) subscription term, and (3) subscription
payments.
The Town uses the interest rate charged by the SBITA vendor as the discount rate. When the interest rate
charged by the SBITA vendor is not provided, the Town generally uses its estimated incremental
borrowing rate as the discount rate for SBITAs.
The subscription term includes the period during which the Town has a noncancelable right to use the
underlying IT asset. The subscription term also includes periods covered by an option to extend if it is
reasonably certain to be exercised.
Subscription payments included in the measurement of the subscription liability are composed of fixed
payments and purchase option years that the Town is reasonably certain to exercise. The Town monitors
changes in circumstances that would require a remeasurement of a subscription and will remeasure any
subscription asset and liability if certain changes occur that are expected to significantly affect the
amount of the subscription liability.
Right-to-use subscription assets are reported along with other capital assets and subscription liabilities are
reported on the statement of net position.
L. Fund Balance
In the Governmental Fund Financial Statements, fund balances are classified in the following categories:
Nonspendable – Items cannot be spent because they are not in spendable form, such as prepaid items and
inventories, items that are legally or contractually required to be maintained intact, such as principal of an
endowment or revolving loan funds.
Restricted – Restricted fund balances encompass the portion of net fund resources subject to externally
enforceable legal restrictions. This includes externally imposed restrictions by creditors, such as through debt
covenants, grantors, contributors, laws or regulations of other governments, as well as restrictions imposed
by law through constitutional provisions or enabling legislation.
Committed – Committed fund balances encompass the portion of net fund resources, the use of which is
constrained by limitations that the government imposes upon itself at its highest level of decision making
(normally the governing body) and that remain binding unless removed in the same manner. The Town
Council is considered the highest authority for the Town. A Town resolution is required to have fund balance
committed.
Assigned – Assigned fund balances encompass the portion of net fund resources reflecting the government’s
intended use of resources. Assignment of resources can be done by the highest level of decision making or by
a committee or official designated for that purpose. The Town Council has authorized the Town Manager
and the Finance Manager/Treasurer for that purpose.
Unassigned – This category is for any balances that have no restrictions placed upon them. The General
Fund is the only fund that reports a positive unassigned fund balance amount. In other governmental funds it
is not appropriate to report a positive unassigned fund balance amount. However, in governmental funds
other than the General Fund, if expenditures incurred for specific purposes exceed the amounts that are
restricted, committed, or assigned to those purposes, it may be necessary to report a negative unassigned fund
balance in that fund.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
54
Note 2 – Summary of Significant Accounting Policies (Continued)
M. Net Position
For the Government-Wide Financial Statements, net position is classified in the following categories:
Net Investment in Capital Assets component of net position consists of capital assets net of accumulated
depreciation/amortization, reduced by the outstanding balances of bonds, mortgages, notes, subscription
liabilities, or other borrowings that are attributable to the acquisition, construction, or improvement of those
assets.
Restricted component of net position consists of restricted assets reduced by liabilities and deferred inflows
of resources related to those assets.
Unrestricted component of net position is the amount of the assets, deferred outflows of resources, liabilities,
and deferred inflows of resources that are not included in the determination of net investment in capital
assets or the restricted component of net position.
N. Spending Policies
For Government-Wide Financial Statements, when an expense is incurred for purposes for which both restricted
and unrestricted net position are available, the Town’s policy is to apply restricted net position first.
For Governmental Fund Financial Statements, the Town’s policy is to spend restricted fund balances first,
before spending unrestricted fund balances, for expenditures incurred for purposes for which both restricted and
unrestricted fund balances are available, except for instances wherein a Town ordinance or resolution specifies
the funding source or a fund balance to use.
The Town’s policy is that committed and assigned fund balances are considered to have been spent first before
unassigned fund balances have been spent, when expenditures are incurred for purposes for which amounts in
any of those unrestricted fund balance classifications could be used, except for instances wherein a Town
ordinance specifies the fund balance to use.
O. Property Taxes
Revenue is recognized in the fiscal year for which the tax and assessment is levied. The County of Contra Costa
levies, bills and collects property taxes and special assessments for the Town and remits the full assessment
regardless of the amounts received under a Teeter plan arrangement.
Property Tax Secured Unsecured
Lien Date January 1 January 1
(Preceding fiscal year) (Preceding fiscal year)
Due Date November 1 & February 1 August 31
Delinquent Date December 10 & April 10 September 1
P. Use of Accounting Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates
and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the
disclosure of contingent assets and liabilities. In addition, estimates affect the reported amount of expenses.
Actual results could differ from these estimates and assumptions.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
55
Note 2 – Summary of Significant Accounting Policies (Continued)
Q. Implementation of New GASB Pronouncements
During fiscal year ended June 30, 2023, the Town has implemented the following new GASB Pronouncements:
GASB Statement No. 91 – In May 2019, GASB issued Statement No. 91, Conduit Debt Obligations. The
primary objectives of this Statement are to provide a single method of reporting conduit debt obligations by
issuers and eliminate diversity in practice associated with (1) commitments extended by issuers, (2)
arrangements associated with conduit debt obligations, and (3) related note disclosures. This Statement
achieves those objectives by clarifying the existing definition of a conduit debt obligation; establishing that a
conduit debt obligation is not a liability of the issuer; establishing standards for accounting and financial
reporting of additional commitments and voluntary commitments extended by issuers and arrangements
associated with conduit debt obligations; and improving required note disclosures. Application of this
statement did not have an effect on the Town’s financial reporting for the year ended June 30, 2023.
GASB Statement No. 94 – In March 2020, GASB issued Statement No. 94, Public–Private and Public–
Public Partnerships and Availability Payment Arrangements. The primary objective of this Statement is to
improve financial reporting by addressing issues related to public–private and public–public partnership
arrangements (PPPs). As used in this Statement, a PPP is an arrangement in which a government (the
transferor) contracts with an operator (a governmental or nongovernmental entity) to provide public services
by conveying control of the right to operate or use a nonfinancial asset, such as infrastructure or other capital
asset (the underlying PPP asset), for a period of time in an exchange or exchange–like transaction.
Application of this statement did not have an effect on the Town’s financial reporting for the year ended
June 30, 2023.
GASB Statement No. 96 – In May 2020, GASB issued Statement No. 96, Subscription–Based Information
Technology Arrangements. This Statement provides guidance on the accounting and financial reporting for
subscription–based information technology arrangements (SBITAs) for government end users
(governments). This Statement (1) defines a SBITA; (2) establishes that a SBITA results in a right–to–use
subscription asset—an intangible asset—and a corresponding subscription liability; (3) provides the
capitalization criteria for outlays other than subscription payments, including implementation costs of a
SBITA; and (4) requires note disclosures regarding a SBITA. Application of this statement did have an effect
on the Town’s financial reporting for the year ended June 30, 2023. See Notes 5, 9, and 15.
GASB Statement No. 99 – In April 2022, GASB issued Statement No. 99, Omnibus 2022. The objectives of
this Statement are to enhance comparability in accounting and financial reporting and to improve the
consistency of authoritative literature by addressing (1) practice issues that have been identified during
implementation and application of certain GASB Statements and (2) accounting and financial reporting for
financial guarantees. Application of this statement did not have an effect on the Town’s financial reporting
for the year ended June 30, 2023.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
56
Note 2 – Summary of Significant Accounting Policies (Continued)
R. Upcoming Government Accounting Standards Implementation
The Town is currently evaluating its accounting practices to determine the potential impact on the financial
statements for the following GASB Statements:
GASB Statement No. 100 – In June 2022, GASB issued Statement No. 100, Accounting Changes and Error
Corrections – an Amendment of GASB Statement No. 62. The primary objective of this Statement is to
enhance accounting and financial reporting requirements for accounting changes and error corrections to
provide more understandable, reliable, relevant, consistent, and comparable information for making decisions
or assessing accountability. Application of this statement is effective for the Town’s fiscal year ending
June 30, 2024.
GASB Statement No. 101 – In June 2022, GASB issued Statement No. 101, Compensated Absences. The
objective of this Statement is to better meet the information needs of financial statement users by updating
the recognition and measurement guidance for compensated absences. That objective is achieved by aligning
the recognition and measurement guidance under a unified model and by amending certain previously
required disclosures. Application of this statement is effective for the Town’s fiscal year ending
June 30, 2025.
Note 3 – Cash and Investments
The following is a summary of pooled cash and investments, including restricted cash and investments held by the
Town, and cash and investments held by fiscal agents, at June 30, 2023:
Primary
Government Fiduciary
Governmental Fund Financial
Activities Statements Total
Cash and investments 75,565,069$ 2,848,116$ 78,413,185$
Restricted cash and investments:
Held by Town 35,628,391 - 35,628,391
Subtotal held by Town 111,193,460 2,848,116 114,041,576
Held by fiscal agents 1,641,685 684,699 2,326,384
Total cash and investments 112,835,145$ 3,532,815$ 116,367,960$
At June 30, 2023, cash and investments, excluding restricted cash and investments held by fiscal agent, are reported
at fair value based on quoted market prices. The following table presents the fair value measurements of investments
recognized in the accompanying Statement of Net Position measured at fair value on a recurring basis and the level
within GASB 72 fair value hierarchy in which the fair value measurements fall at June 30, 2023:
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
57
Note 3 – Cash and Investments (Continued)
Percentage of Measurement
Investment Type Fair Value Investments Input
Demand deposits 2,090,326$ N/A N/A
Investments:
U.S. Securities:
U.S. Treasury 42,464,210 37.16% Level 2
Federal Securities 24,743,011 21.65% Level 2
Asset Backed Securities 4,454,767 3.90% Level 2
Collateralized Mortgage Obligations 3,526,114 3.09% Level 2
Inter-American Dev Bank Note 1,177,688 1.03% Level 2
Int'l Bank Recon & Development 347,957 0.30% Level 2
International Finance Corp Note 951,216 0.83% Level 2
U.S. Corporate Notes/FDIC:
Amazon.com Inc. Callable Note 958,729 0.84% Level 2
American Honda Finance Note 939,572 0.82% Level 2
Apple Inc. Callable 1,188,117 1.04% Level 2
Caterpillar Financial Service Note 866,266 0.76% Level 2
Charles Schwab Corp Callable Note 964,749 0.84% Level 2
Colgate Palmolive Co. Note 452,486 0.40% Level 2
Honeywell International Callable Note 933,649 0.82% Level 2
John Deere Capital Corp Note 1,113,801 0.97% Level 2
JP Morgan Chase & Co. Callable Note 712,978 0.62% Level 2
MasterCard Inc. Callable Note 950,480 0.83% Level 2
Microsoft Callable Note 962,594 0.84% Level 2
Paccar Financial Corp. Note 364,474 0.32% Level 2
State Street Bank Callable Note 248,286 0.22% Level 2
Wal-Mart Stores Callable Note 686,030 0.60% Level 2
Local Agency Investment Fund (LAIF) 22,300,336 19.51% N/A
Money Market Funds 2,970,124 2.60% N/A
Total investments 114,277,634 100.00%
Total cash and investments 116,367,960$
Investments securities classified in Level 2 of the fair value hierarchy are valued using prices determined by the
use of matrix pricing techniques maintained by the pricining vendors for these securities. Matrix pricing is used
to value securities based on the securities’ relationship to benchmark quoted prices. Investments in LAIF are
uncategorized as deposits and withdrawls are made on the basis of $1 and not fair value.
A. Demand Deposits
The carrying amounts of the Town's cash deposits were $2,090,326 at June 30, 2023. Bank balances as of
June 30, 2023, were $2,294,142 which were fully insured and collateralized with securities held by the pledging
financial institutions in the Town’s name as discussed in the following.
The California Government Code (Code) requires California banks and savings and loan associations to secure
the Town's cash deposits by pledging securities as collateral. This Code states that collateral pledged in this
manner shall have the effect of perfecting a security interest in such collateral superior to those of a general
creditor. Thus, collateral for cash deposits is considered to be held in the Town's name.
The market value of pledged securities must equal at least 110% of the Town's cash deposits. California law also
allows institutions to secure Town deposits by pledging first trust deed mortgage notes having a value of 150%
of the Town's total cash deposits.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
58
Note 3 – Cash and Investments (Continued)
A. Demand Deposits (Continued)
The Town has waived collateral requirements for cash deposits that are fully insured up to $250,000 by the
Federal Deposit Insurance Corporation.
B. Investments
The Town reviews and refines its Investment Policy (Policy) annually, with the most recent revision approved by
the Town Council on November 15, 2022. The Policy states that the primary investment objective is safety with
investments being legally permitted and sufficiently liquid to meet forecasted needs. Maximization of interest
earnings is a secondary objective.
Further, the Policy states that the Town Treasurer has the ultimate responsibility to protect, preserve and maintain
cash and investments.
The Policy also established internal controls and reporting requirements and stipulates "Permitted Investments
and Limitation on Investments".
The Town is authorized by State statutes (California Government Code 53601) and in accordance with the
Town's Policy to invest in the following:
U.S. Treasury Securities
U.S. Government Federal Agencies
Certificates of Deposit
Bankers Acceptances
Commercial Paper (Corporations)
Medium-Term Corporate Notes
Repurchase Agreements collateralized by U.S. Securities or U.S. Government Federal Agencies
California Local Agency Investment Fund (LAIF)
U.S. Government Mortgage Pass-Through Securities
Collateralized Mortgage Obligations (CMOs)
Asset-Backed Securities (ABS)
Money Market Mutual Funds
Passbook Savings and Demand Deposits Accounts
Additionally, the Town's Policy specifies the maximum percentage of the total investment portfolio that may be
held in each of the aforementioned securities.
In addition to State statutes, the Town establishes that funds on deposit in banks must be federally insured or
collateralized and investments shall:
(1) have maximum maturity not to exceed five years;
(2) be laddered and based on cash flow forecasts; and
(3) be subject to limitations to a certain percent of the portfolio for each of the authorized investments.
Investments were stated at fair value using the aggregate method in all funds and component units, resulting in
the following investment earnings in all funds and component units:
Interest earnings 1,675,718$
Unrealized gain (loss) on changes in fair value
of investments (676,987)
Total investment earnings 998,731$
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
59
Note 3 – Cash and Investments (Continued)
B. Investments (Continued)
The Town’s investment practices are in compliance with California Government Code 53601 et seq., and the
Town’s Policy. Securities that are purchased and maintain their rating are held to maturity with no exception.
Therefore, while GASB Statement No. 31 requires that investments be stated as “fair value” for annual financial
reporting purposes, the Town cannot realize either gains or losses in this valuation of the investments.
C. External Investment Pool
The Town invests in the Local Agency Investment Fund (LAIF), a State of California external investment pool.
The LAIF determines fair value on its investment portfolio based on market quotations for those securities where
market quotations are readily available and based on amortized cost or best estimate for those securities where
market value is not readily available. The Town’s investments with LAIF at June 30, 2023, include a portion of
the pool funds invested in Structured Notes and Asset-Backed Securities.
These investments may include the following:
Structured Notes which are debt securities (other than asset-backed securities) with cash flow characteristics
(coupon rate, redemption amount, or stated maturity) that depend upon one or more indices and/or that have
embedded forwards or options.
Asset-Backed Securities, the bulk of which are mortgage-backed securities, entitle its purchasers to receive a
share of the cash flows from a pool of assets such as principal and interest repayments from a pool of
mortgages (such as CMO’s) or credit card receivables.
As of June 30, 2023, the Town had $22,300,336 invested in LAIF, which had invested 2.78% of the pool
investment funds in structured notes and asset-backed securities.
The fair value of the Town’s position in the LAIF pool is the same as the value of the pool shares.
The Pooled Money Investment Board provides oversight to the State Treasurer’s pooled investment program.
The purpose of the board is to design and administer an effective cash management and investment program,
using all monies flowing through the State Treasurer’s Office bank accounts and keeping all available funds
invested in a manner consistent with the goals of safety, liquidity, and yield. The Pooled Money Investment
Board is comprised of the State Treasurer as chair, the State Controller, and the Director of Finance. The
investment program is not registered with the Securities and Exchange Commission as an investment company.
The State Treasurer’s Office reports its investments at fair value. The fair value of securities in the State
Treasurer’s pooled investment program generally is based off of quoted market prices. The value of deposits in
the State Treasurer’s pooled investment program, including the Local Agency Investment Fund, is equal to the
dollars deposited in the program.
Certain funds have elected to participate in the pooled investment program even though they have the authority
to make their own investments. Others may be required by legislation to participate in the program; as a result,
the deposits of these funds or accounts may be considered voluntary. However, these funds or accounts are part
of the State’s reporting entity. The remaining participation in the pool, the Local Agency Investment Fund, is
voluntary.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
60
Note 3 – Cash and Investments (Continued)
D. Restricted Cash and Investments Held with Fiscal Agent
Restricted cash and investments with fiscal agents, which can be only used for specific capital outlays, payment
of certain long-term debt and maintaining required reserves, consists of $1,641,685 in the Governmental-wide
Statement of Net Position and Balance Sheet – Governmental Funds and $684,699 in the Statement of Fiduciary
Net Position. These funds have been invested only as permitted by specific State statutes governing these
investments or by applicable Town ordinance, resolution or bond indenture.
E. Risk Disclosures
Interest Rate Risk
As a means of limiting its exposure to fair value losses arising from rising interest rates, the Town’s Policy
provides that final maturities of securities limits as follows:
Maturity
Maximum
Investment
Up to six months 25%
Six months to five years 75%
Specific maturities of investments depend on liquidity needs. At June 30, 2023, the Town's pooled cash and
investments had the following maturities:
Investment Type Fair Value 1 year or less 1-2 years 2-3 years 3-4 years 4-5 years
Demand deposits 2,090,326$ 2,090,326$ -$ -$ -$ -$
Investments:
U.S. Securities:
U.S. Treasury 42,464,210 6,772,334 15,432,791 12,852,327 3,190,975 4,215,783
Federal Securities 24,743,011 13,416,964 5,445,368 2,903,311 - 2,977,368
Asset Backed Securities 4,454,767 - 887,497 1,972,698 1,594,572 -
Collateralized Mortgage Obligations 3,526,114 - - - 1,898,236 1,627,878
Inter-American Dev Bank Note 1,177,688 - 1,177,688 - - -
Int'l Bank Recon & Development 347,957 347,957 - - - -
International Finance Corp Note 951,216 - 951,216 - - -
U.S. Corporate Notes/FDIC:
Amazon.com Inc. Callable Note 958,729 958,729 - - - -
American Honda Finance Note 939,572 939,572 - - - -
Apple Inc. Callable 465,844 - 465,844 - - -
Apple Inc. Note 722,273 - - 722,273 - -
Caterpillar Financial Service Note 866,266 866,266 - - - -
Charles Schwab Corp Callable Note 964,749 964,749 - - - -
Colgate Palmolive Co. Note 452,486 - - 452,486 - -
Honeywell International Callable Note 933,649 933,649 - - - -
John Deere Capital Corp Note 1,113,801 1,113,801 - - - -
JP Morgan Chase & Co. Callable Note 712,978 - 712,978 - - -
MasterCard Inc. Callable Note 950,480 - 950,480 - - -
Microsoft Callable Note 962,594 - - 962,594 - -
Paccar Financial Corp. Note 364,474 - 364,474 - - -
State Street Bank Callable Note 248,286 - - 248,286 - -
Wal-Mart Stores Callable Note 686,030 - - 686,030 - -
Local Agency Investment Fund (LAIF) 22,300,336 22,300,336 - - - -
Money Market Funds 2,970,124 2,970,124 - - - -
Total investments 114,277,634 51,584,481 26,388,336 20,800,005 6,683,783 8,821,029
Total cash and investments 116,367,960$ 53,674,807$ 26,388,336$ 20,800,005$ 6,683,783$ 8,821,029$
Maturities (in years)
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
61
Note 3 – Cash and Investments (Continued)
E. Risk Disclosures (Continued)
Credit Risk
Credit risk is the risk that a security or a portfolio will lose some or all of its value due to a real or perceived
change in the ability of the issuer to repay its debt. According to the Town’s Policy, no more than 5% of the total
portfolio may be invested in securities of any single issuer, other than the U.S. Government, its agencies and
instrumentalities and LAIF. If a security (other than LAIF) is downgraded by either Moody’s or S&P to a level
below the minimum quality required by the Town, the Town will determine whether to retain or liquidate the
security based upon criteria set forth in the Town’s Policy.
At June 30, 2023, the Town's investments are rated as follows:
Moody's S&P
Investments:
U.S. Securities:
U.S. Treasury Aaa AA+
Federal Securities Aaa AA+
Asset Backed Securities Aaa AAA
Collateralized Mortgage Obligations Aaa AA+
Inter-American Dev Bank Note Aaa AAA
Int'l Bank Recon & Development Aaa AAA
International Finance Corp Note Aaa AAA
U.S. Corporate Notes/FDIC:
Amazon.com Inc. Callable Note A1 AA
American Honda Finance Note A3 A-
Apple Inc. Callable Aaa A+
Apple Inc. Note Aaa AA+
Caterpillar Financial Service Note A2 A
Charles Schwab Corp Callable Note A2 A
Colgate Palmolive Co. Note Aa3 AA-
Honeywell International Callable Note A2 A
John Deere Capital Corp Note A2 A
JP Morgan Chase & Co. Callable Note A2 A-
MasterCard Inc. Callable Note Aa3 A+
Microsoft Callable Note Aaa AAA
Paccar Financial Corp. Note A1 A+
State Street Bank Callable Note A1 A
Wal-Mart Stores Callable Note Aa2 AA
Local Agency Investment Fund (LAIF) Not Rated Not Rated
Money Market Funds Aaa AAA
Credit Quality Rating
Custodial Credit Risk
For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the Town
will not be able to recover the value of its investments or collateral securities that are in the possession of an
outside party. The Town does not have any custodial credit risk.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
62
Note 4 – Leases Receivable and Lease-Related Deferred Inflows of Resources
The Town leases various types of property including land, buildings and easements. Leases receivable consist of
agreements with other entities for the “right–to–use” the underlying assets at various locations owned by the Town.
The remaining terms of the agreements range from 5 to 30 years. The Town applies an implied interest rate to the
total scheduled lease payments to calculate the net present value of the lease receivable. The interest rates used by the
Town to calculate the net present value of the lease receivable vary depending on the length of the lease.
For the fiscal year ended June 30, 2023, the Town recognized $505,320 in lease revenue and $86,132 in interest
revenue, and the outstanding net present value of the lease receivable amount is $3,751,081.
A summary of changes in lease receivable for the fiscal year ended June 30, 2023 is as follows:
Amounts Amounts
Balance Balance due within due in more
July 1, 2022 Additions Reductions June 30, 2023 one year than one year
2,244,353$ 1,961,328$ (454,600)$ 3,751,081$ 528,284$ 3,222,797$
As of June 30, 2023, the required payments for these leases, including interest, are:
NPV Total
Year Ending Leases Lease
June 30 Receivable Interest Payments
2024 528,284$ 103,939$ 632,223$
2025 422,411 90,323 512,734
2026 390,642 77,698 468,340
2027 324,958 67,341 392,299
2028 332,386 57,621 390,007
2029-2033 1,177,187 157,816 1,335,003
2034-2038 509,246 41,014 550,260
2039-2042 65,967 1,408 67,375
Total 3,751,081$ 597,160$ 4,348,241$
As of June 30, 2023, the amounts reported as deferred inflows of resources related to leases will be recognized as
lease revenue as follows:
Year Ending
June 30 Total
2024 579,084$
2025 456,282
2026 409,097
2027 335,033
2028 327,028
2029-2033 1,071,810
2034-2038 397,785
2039-2042 39,967
Total 3,616,086$
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
63
Note 5 – Capital Assets
A. Governmental Activities
Summary of changes in capital assets for the year ended June 30, 2023 was as follows:
Prior
Balance Period Transfers/ Balance
July 1, 2022 Adjustment Additions Retirements Reclassifications June 30, 2023
Governmental Activities:
Capital assets, not being depreciated/amortized:
Land 31,221,867$ -$ 600,000$ -$ -$ 31,821,867$
Construction in progress 29,620,687 - 4,733,526 - (743,475) 33,610,738
Infrastructure - streets, concrete & asphalt pavements 93,075,885 - - - - 93,075,885
Total capital assets not being depreciated/amortized 153,918,439 - 5,333,526 - (743,475) 158,508,490
Capital assets being depreciated/amortized:
Buildings and parking lots/street 41,408,769 - - - - 41,408,769
Park improvements 24,267,438 - - - - 24,267,438
Furniture and equipment 4,985,865 - 544,474 (239,992) 743,475 6,033,822
Subscription assets - 114,868 216,256 - - 331,124
Infrastructure:
Drainage system 56,689,603 - - - - 56,689,603
Bridges 12,153,067 - - - - 12,153,067
Signal system 6,997,956 - - - - 6,997,956
Total capital assets being depreciated/amortized 146,502,698 114,868 760,730 (239,992) 743,475 147,881,779
Accumulated depreciation/amortization:
Buildings and parking lots (14,735,557) - (944,068) - - (15,679,625)
Park improvements (22,373,506) - (352,123) - - (22,725,629)
Furniture and equipment (4,604,440) - (219,658) 239,992 - (4,584,106)
Subscription assets - (15,065) (94,682) - - (109,747)
Infrastructure:
Drainage system (56,256,667) - (23,728) - - (56,280,395)
Bridges (7,941,180) - (180,493) - - (8,121,673)
Signal system (5,849,155) - (110,069) - - (5,959,224)
Total accumulated depreciation/amortization (111,760,505) (15,065) (1,924,821) 239,992 - (113,460,399)
Total capital assets, being depreciated/amortized, net 34,742,193 99,803 (1,164,091) - 743,475 34,421,380
Governmental activities capital assets, net 188,660,632$ 99,803$ 4,169,435$ -$ -$ 192,929,870$
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
64
Note 5 – Capital Assets (Continued)
A. Governmental Activities (Continued)
Depreciation/amortization expenses by program for capital assets for the year ended June 30, 2023, were as
follows:
Police Services
Building $ 19,250
Furniture & equipment (vehicle) 135,319
Subtotal 154,569
Maintenance Services
Building 489,957
Parking lots 307,158
Park improvements 349,264
Furniture & equipment (vehicle) 62,312
Subtotal 1,208,691
Development Services
Furniture & equipment (vehicle) 5,348
Infrastructure - drainage 23,728
Infrastructure - bridge 180,493
Subtotal 209,569
Transportation (Community) Services
Furniture & equipment (vehicle) 1,362
Infrastructure - signal 110,069
Subtotal 111,431
Administrative Services
Building 1,212
Furniture & equipment (vehicle) 8,513
Subscription assets 94,682
Subtotal 104,407
Parks and Recreation Services
Building 126,491
Park improvements 2,859
Furniture & equipment (vehicle) 6,804
Subtotal 136,154
Total depreciation/amortization expense $ 1,924,821
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
65
Note 6 – Interfund Transactions
A. Transfers In/Out
Transfers in/out for the year ended June 30, 2023, were as follows:
Lighting Capital
Landscape Improvement
Special Capital Non-Major
Revenue Projects Governmental
Fund Fund Funds
Transfers Out (1) (1) (2) Total
General Fund 1,300,000$ 5,701,594$ 1,075,000$ 8,076,594$
Non-Major Governmental Funds - - 50,000 50,000
Total 1,300,000$ 5,701,594$ 1,125,000$ 8,126,594$
Transfers In
The following are explanations for the transfers in and out:
(1) Transfers in to the Capital Improvement Capital Projects Fund and Lighting and Landscape Special
Revenue Fund were to fund various capital projects.
(2) Transfers in to the Non-Major Governmental Funds from other Non-Major Governmental Funds
were to fund various capital projects.
Note 7 – Loans Receivable from Successor Agency to the Former Community Development Agency
In the fiscal year 2012, the Successor Agency Trust Fund was established to replace the Town's Community
Development Agency. Below are the accounts and transactions as of and for the year ended June 30, 2023:
Government-Wide Financial Statements
Loans Receivable
Cooperative Loan Agreement $ 2,859,401
Total $ 2,859,401
Reimbursements from Successor Agency $ 825,175
Funds Financial Statements
General Fund
Due from Successor Agency of
Former Community Development Agency 2,859,401$
Total 2,859,401$
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
66
Note 7 – Loans Receivable from Successor Agency to the Former Community Development Agency
(Continued)
A. Successor Agency (SA) Cooperative Agreement Loan Receivable
Prior to the State of California's (State) dissolution of all redevelopment agencies, the Town of Danville and the
former Community Development Agency (CDA) had entered into a Cooperation Agreement (Agreement), under
which the Town advanced funds to the former CDA that were subject to later repayment by the former CDA. The
Successor Agency to the former CDA and the Successor Agency's Oversight Board approved re-entry into the
Agreement, as provided for in AB 1X 26 (the Dissolution Act).
The State Department of Finance determined that the Agreement was not an enforceable obligation, leading the
Town to file a lawsuit in the Sacramento County Superior Court (Superior Court) against the State challenging
that determination. The Town won its suit in Superior Court, leading to an appeal by the State. In May 2015, the
State dismissed its appeal, and at the same time, the Department of Finance accepted the Agreement as an
enforceable obligation. As a result, the Town received its first payment in June 2015 under the Agreement.
The Agreement incorporated the following payment schedule, which the Successor Agency and the Town will
follow when preparing future Recognized Obligation Payment Schedule (ROPS) statements. However, due to the
fact that the State refused to allow payment for the first several years post-dissolution, those amounts will be paid
in years subsequent to those shown in the Agreement. Therefore, an additional $3,195,604 was approved in
addition to the original amount and was recognized as special item in the basic financial statements.
Fiscal Year Amount
2023-2024 1,100,000$
2024-2025 1,100,000
2025-2026 659,401
Total 2,859,401$
Note 8 – Unearned Revenue
Unearned revenue in Government-Wide Financial Statements and governmental funds statements represents amounts
for which revenues have not been earned. At June 30, 2023, unearned revenues in the Government-Wide Financial
Statements and governmental funds statements were as follows:
Governmental
Activities
American Rescue Plan Act unspent funds $ 5,845,830
Business licenses 168,873
Other Town-reimbursed fees 641,067
Recreation program registration 259,503
Total $ 6,915,273
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
67
Note 9 – Long-Term Obligations
A. Governmental Activities
A summary of changes in long-term debt for the year ended June 30, 2023 is as follows:
Due Due in
Balance Balance Within More than
Description July 1, 2022 Additions Retirements June 30, 2023 One Year One Year
Publicly offered COPs:
2001 issue 1,980,000$ -$ (355,000)$ 1,625,000$ 380,000$ 1,245,000$
2005 issue 3,255,000 - (190,000) 3,065,000 200,000 2,865,000
Subscription liability - 216,256 (70,307) 145,949 71,885 74,064
Compensated absences 1,079,468 857,515 (745,823) 1,191,160 120,000 1,071,160
Total 6,314,468$ 1,073,771$ (1,361,130)$ 6,027,109$ 771,885$ 5,255,224$
Classification
Certificates of Participation – 2001 Issue
The Town issued $6,700,000 principal amount of 2001 Certificates of Participation (2001 COPs) on
October 1, 2001. The purpose of the 2001 COPs was to provide funds to refund the outstanding 1992 Certificates
of Participation, to defease the 1994 Tax Allocation Bonds, and to provide funds for the lease of certain real
property and improvements. The 2001 COPs in the amount of $3,745,000 matured on September 1, 2018, and
bore interest rates ranging from 3.50% to 4.625%. The 2001 COPs in the amount of $635,000 mature through
September 1, 2020, and bear interest at the rate of 4.75% per annum. The 2001 COPs in the amount of
$2,320,000 mature through September 1, 2026, and bear interest at the rate of 5.00% per annum. In the event of
default, there is no acceleration clause. The Town will only be liable for lease payments on an annual basis as
they come due and the trustee woud be required to seek separate judgments for the annual lease payments.
The 2001 COPs are payable semiannually on each March 1 and September 1, commencing March 1, 2002 and
are subject to optional and mandatory early redemption provisions.
The annual debt service requirements for the 2001 COPs outstanding at June 30, 2023 are as follows:
For the Years Ending
June 30,Principal Interest Total
2024 $ 380,000 $ 71,750 $ 451,750
2025 395,000 52,375 447,375
2026 415,000 32,125 447,125
2027 435,000 10,875 445,875
Total $ 1,625,000 $ 167,125 $ 1,792,125
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
68
Note 9 – Long-Term Obligations (Continued)
A. Governmental Activities (Continued)
Certificates of Participation – 2005 Issue
The Town issued $5,600,000 principal amount of 2005 Certificates of Participation (2005 COPs) on
March 1, 2005. The purpose of the 2005 COPs was to provide funds to finance the acquisition and improvement
of certain property for use as a public parking facility and other capital improvements with the Town. The 2005
COPs in the amount of $3,155,000 mature through March 1, 2026, and bear interest rates ranging from 4.000%
to 4.625%. The 2005 COPs in the amount of $965,000 mature through March 1, 2030, and bear interest at the
rate of 4.625% per annum. In the event of default, there is no acceleration clause, however, the Town may be
forced to relinquish possession and use of the property until the curing of such default.
The 2005 COPs in the amount of $1,480,000 mature through March 1, 2035, and bear interest at the rate of
4.625% per annum. The 2005 COPs are payable semiannually on each March 1 and September 1, commencing
September 1, 2005. The 2005 COPs are subject to optional and mandatory early redemption provisions.
The annual debt service requirements for the 2005 COPs outstanding at June 30, 2023, are as follows:
For the Years Ending
June 30,Principal Interest Total
2024 $ 200,000 $ 141,250 $ 341,250
2025 205,000 132,250 337,250
2026 215,000 123,025 338,025
2027 225,000 113,082 338,082
2028 235,000 102,675 337,675
2029-2033 1,350,000 339,706 1,689,706
2034-2035 635,000 44,400 679,400
Total $ 3,065,000 $ 996,388 $ 4,061,388
In accordance with the final Recognized Obligation Payment Schedule (ROPS) approved for the Successor
Agency to the the former Community Development Agency by the State Department of Finance, the Town
receives annual repayments from the Successor Agency in an amount equivalent to the annual principal and
interest payments for the 2001 and 2005 COPs.
Subscription Liability
The Town entered into various subscription-based IT arrangements and has recorded a liability to offset the right-
to-use assets. These are calculated using the Town’s incremental borrowing rate of 3.0%.
Future minimum payments on SBITA liabilities are as follows:
For the Years Ending
June 30,Principal Interest Total
2024 $ 71,885 $ 2,364 $ 74,249
2025 74,064 185 74,249
Total $ 145,949 $ 2,549 $ 148,498
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
69
Note 9 – Long-Term Obligations (Continued)
A. Governmental Activities (Continued)
Compensated Absences
The Town's liability for vested and unpaid compensated absences (accrued vacation and sick pay) has been
accrued and amounts to $1,191,160 at June 30, 2023. It is estimated that $120,000 will be needed to cover
employees who leave employment within one year.
B. Fiduciary Fund Financial Statements
Summary of changes in long-term obligations for the year ended June 30, 2023 was as follows:
Due Due in
Balance Balance Within More than
Description July 1, 2022 Additions Retirements June 30, 2023 One Year One Year
Loans payable 1,910,000$ -$ (210,000)$ 1,700,000$ 230,000$ 1,470,000$
Total 1,910,000$ -$ (210,000)$ 1,700,000$ 230,000$ 1,470,000$
Classification
Loan Payable
The Authority issued $3,570,000 principal amount of Taxable Revenue Bonds, 2001 Series A (Bonds) on
December 1, 2001. The proceeds of the Bonds were loaned to the former CDA pursuant to a Loan Agreement,
dated as of December 1, 2001 and used to finance low and moderate income housing project within the project
area. The Bonds in the amount of $35,000 matured through August 1, 2006, and bore interest at the rate of 6.15%
per annum. The Bonds in the amount of $260,000 mature through August 1, 2011, and bear interest at the rate of
7.25% per annum. The Bonds in the amount of $1,170,000 mature through August 1, 2020, and bear interest at
the rate of 8.15% per annum. The Bonds in the amount of $2,105,000 mature through August 1, 2028, and bear
interest at the rate of 8.50% per annum.
The Bonds are payable seminannually on each February 1 and August 1, commencing August 1, 2002. The
Bonds are subject to optional and mandatory early redemption provisions.
The Bonds are special obligations of the Authority payable from and secured by loan payments made by the
former CDA under the Loan Agreement and certain other amounts on deposit in the funds and accounts
established under the Indenture. The Loan Agreement is secured by the tax increment revenues of the former
CDA. This loan has been transferred to the Successor Agency Trust Fund.
The annual debt service requirements for the Bonds outstanding at June 30, 2023 are as follows:
For the Years Ending
June 30,Principal Interest Total
2024 $ 230,000 $ 134,725 $ 364,725
2025 250,000 114,325 364,325
2026 270,000 92,225 362,225
2027 290,000 68,425 358,425
2028 315,000 42,713 357,713
2029 345,000 14,663 359,663
Total $ 1,700,000 $ 467,076 $ 2,167,076
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
70
Note 10 – Defined Contribution Pension Plan
A. Section 401(a) Qualified Defined Contribution Pension Plan
All qualified Town employees participate in the Section 401(a) qualified defined contribution pension plan as
allowed under the Internal Revenue Code. The plan type sponsored by the Town is the Money Purchase Plan
(Plan), which was last amended on July 1, 2010. The Plan is a defined contribution retirement plan in which the
employer's contribution is nondiscretionary and is based on a formula that is not related to profits. The Plan
sponsor guarantees no benefit and bears no investment risk while the Plan participants bear all investment risk
and have no guaranteed level of benefits.
An administrative committee comprised of Town personnel governs the Plan. The Town Council has the
authority to establish or amend the Plan's provisions. The Plan's provisions and contribution requirements are
established and may be amended by Town Council resolution.
Eligible employees begin participating the first day of the month following their employment date of work. The
Plan is entirely funded by Town contributions of 15% of the participants' gross pay for employees who contribute
5% of their salary to the deferred compensation plan. The Town's contributions vest at 20% per plan year of
uninterrupted employment.
Participants are eligible to begin receiving benefits at age 55 and are required to begin receiving benefits no later
than April after age 70-1/2. The employees may also roll their funds to another retirement plan upon separation
of service.
The Town's payroll for employees covered by the Plan for the year ended June 30, 2023, was $9,860,784. Total
employee contributions paid by the Town amounted to $1,336,987 or 13.56% of covered payroll and of total
payroll.
The Plan's assets are invested with Lincoln National Life, a mutual fund company that offers participants
multiple mutual fund category selections from which they can choose. As of June 30, 2023, the Plan had 169
participants and the market value of the Plan amounted to $26,308,610.
B. Section 415(m) Benefit Restoration Plan
Qualified Town employees may participate in a Section 415(m) benefit restoration plan (415 Plan) as allowed
under the Internal Revenue Code. The 415 Plan is a qualified governmental excess benefit arrangement for
employees who are not able to receive their entire contribution to the Section 401(a) Plan because of the
application of Internal Revenue Code Section 415. The 415 Plan is a defined contribution retirement plan in
which the employer's contribution is nondiscretionary and is based on a formula that is not related to profits. The
Plan sponsor guarantees no benefit and bears no investment risk while the Plan participants bear all investment
risk and have no guaranteed level of benefits.
Participants are eligible to begin receiving benefits at age 55 and are required to begin receiving benefits no later
than April after age 70-1/2.
The Plan's assets are invested with a mutual fund company that offers participants multiple mutual fund category
selections from which they can choose. Total employee contributions paid by the Town amounted to $50,386. As
of June 30, 2023, the Plan had two participants and the market value of the Plan amounted to $463,123.
The Defined Contribution Pension Plan and the Benefit Restoration Plan are not included in the accompanying
financial statements.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
71
Note 11 – Fund Balance Classification
At June 30, 2023, fund balances are classified as follows:
Regional Traffic
Lighting Impact Fee ARPA Capital
and Special Special Improvement Non-Major
General Landscape Revenue Revenue Project Governmental
Fund Fund Fund Fund Fund Funds Total
Fund Balances:
Nonspendable
Due from Successor Agency of Former CDA $ 1,759,401 $ - $ - $ - $ - $ - $ 1,759,401
Prepaid items 156,060 - - - - - 156,060
Total nonspendable 1,915,461 - - - - - 1,915,461
Restricted
Special revenue - 1,807,139 4,454,341 930 - 28,596,831 34,859,241
Debt service 827,765 - - - - - 827,765
Total restricted 827,765 1,807,139 4,454,341 930 - 28,596,831 35,687,006
Committed
Capital projects 8,762,220 - - - 27,775,301 9,179,741 45,717,262
Operating reserve 13,809,768 - - - - - 13,809,768
Contingency 782,066 - - - - - 782,066
Reward fund 10,000 - - - - - 10,000
Compensated absences/personnel 1,465,232 - - - - - 1,465,232
Total committed 24,829,286 - - - 27,775,301 9,179,741 61,784,328
As signed
Townwide bonus program 26,000 - - - - - 26,000
Town Council 5,000 - - - - - 5,000
Emergency preparedness COVID-19 78,250 - - - - - 78,250
Finance consulting services 10,000 - - - - - 10,000
Information technology consulting services 15,000 - - - - - 15,000
Information technology software 10,000 - - - - - 10,000
Human resources consulting services 60,000 - - - - - 60,000
Police management equipment 6,900 - - - - - 6,900
Police management software 20,000 - - - - - 20,000
Internal services equipment 11,000 - - - - - 11,000
Economic development consultant 9,000 - - - - - 9,000
Transportation equipment maintenance 17,000 - - - - - 17,000
Lighting and landscaping - 3,019,810 - - - - 3,019,810
Total assigned 268,150 3,019,810 - - - - 3,287,960
Unassigned 1,100,000 - - - - - 1,100,000
Total fund balance 28,940,662$ 4,826,949$ 4,454,341$ 930$ 27,775,301$ 37,776,572$ 103,774,755$
Major Funds
Operating Reserve
The Town maintains a minimum operating reserve of 20% of the fiscal year operating budget, which may only be
used in the event of a financial emergency, subject to Town Council authorization. Town Resolution No. 35-98
defines the purpose and uses of the General Fund operating reserve.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
72
Note 12 - Risk Management
The Town participates in the Municipal Pooling Authority (MPA), a joint powers agreement between 19 cities,
which provides insurance coverage for liability, auto, property and workers' compensation claims. Claim liabilities
are accrued when it is probable that a loss has occurred and the amount of that loss can be reasonably estimated.
The MPA covers claims in an amount up to $29,000,001. The Town has a deductible of $5,000 per claim for liability
cases and up to these pay for workers' compensation claims. The MPA is self-insured up to $1,000,000 per claim and
has excess coverage to a maximum of $29,000,000.
The MPA is governed by a board consisting of representatives from each member municipality. The Board, which
controls the operations of the MPA, including the selection of management and the approval of operating budgets, is
independent of any influence by member municipalities beyond their representation on the Board.
The Town's net general liability premium payments to the MPA in the amount of $499,022 for fiscal year 2022/2023
are in accordance with formulas established by the MPA. Actual surpluses or losses are shared according to a
formula developed from overall loss costs and spread to member entities on a percentage basis after a retrospective
rating.
Estimates of deductibles for incurred, but not reported, (IBNR) liability claims are included in the Town's claims
estimates and are based upon historical experiences as calculated by the MPA. During the year, the Town did not
receive a dividend from the MPA based on the results of prior years' actitivites. The following provides a
reconciliation of the amount accrued for estimated out of pocket amounts to be paid for IBNR deductibles:
Beginning Claims and Payments for End
of Year Changes in Current and of Year
Fiscal Year Liability Estimates Prior Years Liability
2020-2021 53,990$ 8,013$ (5,489)$ 56,514$
2021-2022 56,514 18,323 (29,623) 45,214
2022-2023 45,214 7,934 (21,339) 31,809
The Town has had no settlements that exceeded insurance coverage in the last three fiscal years, and no changes in
insurance coverage from the prior year.
Because dividends cannot be guaranteed and may fluctuate significantly, these types of results should not be used to
forecast future years' results.
Insurance cost 516,371$
Less: dividend received (17,349)
Net insurance cost 499,022$
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
73
Note 12 – Risk Management (Continued)
The MPA's audited condensed financial information as of and for the year ended June 30, 2022, are as follows:
Total assets 83,445,725$
Total deferred outflows of resources 1,367,618$
Total liabilities 60,447,844$
Total deferred inflows of resources 1,264,839$
Total net position 23,100,660$
Total operating revenues 41,229,074$
Total operating expenses 42,807,473$
Net operating (loss)(1,578,399)$
Non-operating revenues (expenses)(2,821,109)$
Change in net position (4,399,508)$
Detailed financial information may be obtained from the Municipal Pooling Authority (MPA) in Walnut Creek,
California.
Note 13 – Commitments and Contingencies
Lawsuits
The Town is a defendant in a number of lawsuits which have arisen in the normal course of business. While
substantial damages are alleged in some of these actions, their outcome cannot be predicted with certainty. In the
opinion of the Town Attorney, these actions, when finally adjudicated, will not have a material adverse effect on the
financial position of the Town.
Annual Appropriations
Under Article XIIIB of the California Constitution (the Gann Spending Limitation Initiative), the Town is restricted
as to the amount of annual appropriations, and if certain proceeds of taxes exceed allowed appropriations, the excess
must either be refunded to the State Controller or refunded to the taxpayers through revised tax rates or revised fee
schedules. For the fiscal year ended June 30, 2023, the Town’s appropriations limit totals $49,825,433 and the
Town’s appropriations subject to limitation were $24,054,155.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2023
74
Note 13 – Commitments and Contingencies (Continued)
2023 Appropriation Limit
Proposition 4, passed by the voters in 1978, requires that the Town Council adopt an annual appropriation limit for
proceeds of taxes. This limit fixes the amount of general tax revenue that can be appropriated in a given fiscal year.
Any excess must be returned to the taxpayers. The limit is adjusted each year by established adjustment factors.
Proposition 111, passed by the voters in June 1990, allows each local agency's governing body to annually choose
which adjustment factors are to be used. The Town Council has the discretion to choose one of two inflation
factors: (1) population growth in California per capita income or (2) growth in nonresidential assessed valuation
from new construction within the Town. Additionally, the Town Council may choose from one of two population
adjustment factors: population growth within the Town or population growth within Contra Costa County. The
Town chose to use the population growith within Contra Costa County. The chosen population adjustment factor is
multiplied by the growth in California per capita income.
Construction Commitments
The Town has several outstanding or planned construction projects as of June 30, 2023. These projects are
evidenced by contractual commitments with contractors. As of June 30, 2023, the Town's outstanding contractual
commitments amount were $3,205,201.
Note 14 – Other Required Disclosures
A. Expenditures Exceeding Appropriations
For the year ended June 30, 2023, the following funds had excess expenditures over appropriations, which are
expected to be covered with existing fund balance or had sufficient available revenue:
Excess Expenditures
Fund Function over Appropriations
General Fund General government 430,025$
General Fund Maintenance services 126,849
Lighting and Landscaping Special Revenue Fund Administrative services 233
Public Safety Special Revenue Fund Administrative services 171
Note 15 – Prior Period Adjustments
In order to implement GASB Statement No. 96, Subscription-Based Information Technology Arrangements
(SBITAs), net position as of July 1, 2022 has been restated as follows:
Governmental
Activities
Net position July 1, 2022 279,375,649$
GASB 96 implementation 99,803
Restated net postion July 1, 2022 279,475,452$
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REQUIRED SUPPLEMENTARY INFORMATION
(UNAUDITED)
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Town of Danville
Required Supplementary Information (Unaudited)
For the Year Ended June 30, 2023
77
Note 1 – Budgetary Information
The Town follows these procedures in establishing the budgetary data for all governmental funds except for capital
projects funds:
Town Council determines community needs, priorities and opportunities for the upcoming year commencing
July 1.
By June 30, the Town Manager submits to the Town Council a proposed operating budget for the year
commencing July 1. The operating budget includes proposed expenditures and the means of financing them.
Public hearings are conducted to obtain taxpayer comments.
The budget is legally enacted through passage of a resolution during a Town Council meeting in the month
of June.
The Town Manager is authorized to transfer budgeted amounts within an activity, for example, within a
program (legal, finance, etc.). The Town Manager is able to authorize the purchase of office equipment
instead of the original budgeted for expense to pay for consultants, for example. However, any revisions that
alter the total expenditures (increase/decrease budget for a program) must be approved by the Town Council.
Formal budgeting is employed as a management control device during the year.
Budgets are adopted on a basis consistent with generally accepted accounting principles (GAAP).
Budgeted amounts are as originally adopted or as amended by the Town Council. Individual amendments were not
material in relation to the original appropriations. FINAL
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedule
For the Year Ended June 30, 2023
78
Note 2 – Budgetary Comparison Schedule
General Fund
Variance
Original Final From Final
Budget Budget Actual Budget
REVENUES:
Property taxes $ 16,850,000 $ 16,850,000 $ 18,937,827 $ 2,087,827
Sales taxes 6,125,000 6,125,000 7,467,848 1,342,848
Other taxes 2,270,968 2,270,968 2,483,194 212,226
Charges for services 1,930,743 1,930,743 2,017,446 86,703
Licenses and permits 350,000 350,000 341,405 (8,595)
Intergovernmental 1,010 63,916 2,537 (61,379)
Fines and forfeitures 150,000 150,000 105,729 (44,271)
Use of money and property 1,110,247 1,110,247 1,212,003 101,756
Reimbursement from Successor Agency - 784,925 825,175 40,250
Miscellaneous 174,915 174,915 794,763 619,848
Total re ve nu e s 28,962,883 29,810,714 34,187,927 4,377,213
EXPENDITURES:
Current:
General government
Town Council 233,346 301,252 238,858 62,394
Town Manager 775,871 801,871 614,458 187,413
Town Attorney 429,750 636,313 578,236 58,077
Town Clerk 328,512 328,512 255,115 73,397
Community outreach 261,684 270,929 221,349 49,580
Emergency preparedness 135,378 213,634 1,074,520 (860,886)
Total general government 2,164,541 2,552,511 2,982,536 (430,025)
Police services
Administration 1,738,492 1,844,890 1,603,421 241,469
Patrol 6,278,863 6,351,825 5,456,292 895,533
Traffic 1,313,314 1,313,438 1,073,433 240,005
Investigations 1,006,615 1,006,615 993,646 12,969
PS Youth Services 551,432 551,432 451,109 100,323
Animal control 349,930 349,930 349,931 (1)
Total police services 11,238,646 11,418,130 9,927,832 1,490,298
Maintenance services
Management 408,809 408,809 358,883 49,926
Building maintenance 480,084 493,409 916,137 (422,728)
Park maintenance 1,292,136 1,352,694 1,112,986 239,708
Equipment maintenance 384,500 427,714 371,543 56,171
Total maintenance services 2,565,529 2,682,626 2,759,549 (126,849)
Development services
Management 309,166 309,166 143,814 165,352
Planning 239,594 239,594 190,582 49,012
Engineering - 300 290 10
Capital project management 678,754 678,754 582,240 96,514
Transportation - 24,000 6,479 17,521
Total development services 1,227,514 1,251,814 923,405 328,409
(Continued)
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedule (Continued)
For the Year Ended June 30, 2023
79
Note 2 – Budgetary Comparison Schedule (Continued)
General Fund (Continued)
Variance
Original Final From Final
Budget Budget Actual Budget
EXPENDITURES (Continued):
Current (Continued):
Administrative services
Management 208,132 208,132 215,311 (7,179)
Finance 892,536 933,511 786,841 146,670
Information technology 790,332 816,996 631,187 185,809
Human resources 489,706 558,126 289,029 269,097
Economic development 450,513 688,074 659,658 28,416
Risk management 779,200 779,200 777,787 1,413
Internal services 275,012 347,593 252,120 95,473
Total administrative services 3,885,431 4,331,632 3,611,933 719,699
Recreation, arts, and community services
Management 429,873 440,981 383,228 57,753
Sports and fitness 716,325 727,958 531,256 196,702
Facilities management 556,440 556,440 526,721 29,719
Culture arts 690,642 690,642 634,485 56,157
Youth services 516,116 516,116 481,863 34,253
Teen services 422,461 422,461 401,114 21,347
Adult services 132,805 132,805 103,617 29,188
Senior services 359,598 361,631 287,647 73,984
Library service 172,620 172,620 151,539 21,081
Special events 257,748 275,342 226,840 48,502
Total recreation, arts, and community services 4,254,628 4,296,996 3,728,310 510,933
Capital outlay - - 271,069 (271,069)
Debt service:
Principal - 545,000 615,307 (70,307)
Interest - 239,925 243,866 (3,941)
Total expenditures 25,336,289 27,318,634 25,063,807 2,147,148
REVENUES OVER (UNDER) EXPENDITURES 3,626,594 2,492,080 9,124,120 2,230,065
OTHER FINANCING SOURCES (USES):
Proceeds from debt issuance - - 216,256 216,256
Transfers out (4,726,594) (8,076,594) (8,076,594) -
Total other financing sources (uses) (4,726,594) (8,076,594) (7,860,338) 216,256
NET CHANGE IN FUND BALANCE $ (1,100,000) $ (5,584,514) 1,263,782 $ 2,446,321
FUND BALANCE:
Beginning of year 27,676,880
End of year $ 28,940,662
(Concluded)
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedule (Continued)
For the Year Ended June 30, 2023
80
Note 2 – Budgetary Comparison Schedule (Continued)
Lighting and Landscape Special Revenue Fund
Variance
Original Final From Final
Budget Budget Actual Budget
REVENUES:
Special assessments $ 3,031,853 $ 3,031,853 $ 3,044,932 $ 13,079
Use of money and property 8,999 8,999 52,119 43,120
Miscellaneous 88,898 88,898 144,627 55,729
Total revenues 3,129,750 3,129,750 3,241,678 111,928
EXPENDITURES:
Current:
Police services
Administration - 292,039 292,039 -
Total police services - 292,039 292,039 -
Maintenance services
Capital project management 220,039 220,039 - 220,039
Building maintenance 59,160 66,952 59,205 7,747
Total maintenance services 279,199 286,991 59,205 227,786
Development services
Engineering 291,209 291,209 6,045 285,164
Total maintenance services 291,209 291,209 6,045 285,164
Lighting and landscape
Building maintenance 420,426 425,959 397,930 28,029
Park maintenance 1,380,205 1,440,762 1,142,414 298,348
Roadside maintenance 2,123,757 2,192,035 1,766,785 425,250
Street light maintenance 787,430 817,018 605,999 211,019
Total lighting and landscape 4,711,818 4,875,774 3,913,128 962,646
Administrative services
Finance 2,426 2,426 2,659 (233)
Total administrative services 2,426 2,426 2,659 (233)
Capital outlay - - - -
Total expenditures 5,284,652 5,748,439 4,273,076 1,475,363
REVENUES OVER (UNDER) EXPENDITURES (2,154,902) (2,618,689) (1,031,398) 1,587,291
OTHER FINANCING SOURCES (USES)
Transfers in - - 1,300,000 1,300,000
Total other financing sources (uses) - - 1,300,000 1,300,000
NET CHANGE IN FUND BALANCE $ (2,154,902) $ (2,618,689) 268,602 $ 2,887,291
FUND BALANCE:
Beginning of year 4,558,347
End of year $ 4,826,949
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedule (Continued)
For the Year Ended June 30, 2023
81
Note 2 – Budgetary Comparison Schedule (Continued)
Regional Traffic Impact Fees Special Revenue Fund
Variance
Original Final From Final
Budget Budget Actual Budget
REVENUES:
Development fees -$ -$ 166,362$ 166,362$
Intergovernmental 237,790 111,885 - (111,885)
Use of money and property - - 39,812 39,812
Miscellaneous 1,310 1,310 - (1,310)
Total revenues 239,100 113,195 206,174 92,979
EXPENDITURES:
Current:
Development services
Capital project management 949,688 826,783 160,617 666,166
Total development services 949,688 826,783 160,617 666,166
Administrative services
Finance 10,398 10,398 2,034 8,364
Total administrative services 10,398 10,398 2,034 8,364
Capital outlay - - - -
Total expenditures 960,086 837,181 162,651 674,530
NET CHANGE IN FUND BALANCE (720,986)$ (723,986)$ 43,523 767,509$
FUND BALANCE:
Beginning of year 4,410,818
End of year 4,454,341$
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedule (Continued)
For the Year Ended June 30, 2023
82
Note 2 – Budgetary Comparison Schedule (Continued)
American Rescue Plan Act Special Revenue Fund
Variance
Original Final From Final
Budget Budget Actual Budget
REVENUES:
Intergovernmental -$ -$ 3,455,415$ 3,455,415$
Total revenues - - 3,455,415 3,455,415
EXPENDITURES:
Current:
Development services
Capital project management 1,500,000 3,250,000 356,378 2,893,622
Total development services 1,500,000 3,250,000 356,378 2,893,622
Capital outlay 6,678,306 6,052,175 3,099,037 2,953,138
Total expenditures 8,178,306 9,302,175 3,455,415 5,846,760
NET CHANGE IN FUND BALANCE (8,178,306)$ (9,302,175)$ - 9,302,175$
FUND BALANCE:
Beginning of year 930
End of year 930$
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedule (Continued)
For the Year Ended June 30, 2023
83
Note 3 – Modified Approach for Town Street Infrastructure Capital Assets
The Town defines infrastructure as the basic physical assets including the street system; traffic control
improvements; park and recreation lands and improvement system; storm water conveyance systems; and site
amenities such as parking and landscaped areas used by the Town in the conduct of its business. Each major
infrastructure system can be divided into subsystems. For example, the street system can be divided into asphalt
pavements, concrete curb and gutters, medians, traffic control devices (signs, signals and pavement markings),
landscaping and land. Subsystem detail is not presented in these Basic Financial Statements; however, the Town
maintains detailed information on these subsystems.
The Town has elected to use the "Modified Approach" for infrastructure reporting for its Streets Pavement System.
Eligible infrastructure capital assets are not required to be depreciated under the following requirements:
The Town manages the eligible infrastructure capital assets using an asset management system with
characteristics of: (1) an up-to-date inventory; (2) perform condition assessments and summarize the results
using a measurement scale; and (3) estimate annual amount to maintain and preserve at the established
condition assessment level.
The Town documents that the eligible infrastructure capital assets are being preserved approximately at or
above the established and disclosed condition assessment level.
In September 2023, the Town commissioned a study to update the physical condition assessment of the arterials and
collector for residential streets. The prior assessment study was completed in August 2020. The streets, primarily
asphalt pavements, were defined as all physical features associated with the operation of motorized vehicles that exist
within the limits of right of way. Town owned streets are classified based on land use, access and traffic utilization
into the following four classifications: arterial/major, secondary, collector and local. This condition assessment will
be performed at least every three years. Street assessments have historically been funded with grants and performed
approximately every three years. Each street was assigned a physical condition based on potential defects. A
Pavement Condition Index (PCI), a nationally recognized index, was assigned to each street and expressed in a
continuous scale from 0 to 100, where 0 is assigned to the least acceptable physical condition and 100 is assigned to
the physical characteristics of a new street.
The following conditions were defined:
PCI
Conditions
PCI
Rating
Very Good 70-100
Good 50-69
Poor 26-49
Very Poor 0-25
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedule (Continued)
For the Year Ended June 30, 2023
84
Note 3 – Modified Approach for Town Street Infrastructure Capital Assets (Continued)
The Town's policy is to achieve a minimum average rating of 70 for all streets, which is a "very good" rating. As of
June 30, 2023, the Town’s street system was rated at a PCI index of 77 on the average with the detail condition as
follows:
Street Condition % of Streets
Very Good (PCI 70-100)70%
Good (PCI 50-69)20%
Poor (PCI 26-49)9%
Very Poor (PCI 0-25)1%
100%
The Town’s streets are constantly deteriorating as a result of following four factors: (1) traffic using the streets; (2)
the sun’s ultra-violet rays drying out and breaking down the top layer of pavement; (3) utility company/private
development interests trenching operations; and (4) water damage from natural precipitation and other urban runoff.
The Town is continuously taking actions to arrest the deterioration through short-term maintenance activities such as
pothole patching, street sweeping, and sidewalk repairs. The Town expended $2,649,986 of the General Fund monies
on street maintenance for the fiscal year ended June 30, 2023. These expenditures delayed deterioration. The Town
has estimated that the amount of annual expenditures required to maintain the Town’s streets at the average PCI
rating of 70 through the year 2023 is a minimum of $3,000,000.
A schedule of estimated annual amount calculated to maintain and preserve its streets at the current level compared
to actual expenditures for street maintenance for the last ten years is presented below. The availability and use of
other funds has enabled the Town to maintain the underlying drainage, associated curbs and gutters and to repair
small but costly pavement areas needing complete replacement.
Other Funds Total PCI
Fiscal Year Final Budget Actual Actual Actual Rating
2013-14 $ 3,000,000 $ 914,271 $ 583,827 $ 1,498,098 74
2014-15 3,000,000 2,800,816 1,359,695 4,160,511 74
2015-16 3,000,000 684,250 708,280 1,392,530 76
2016-17 3,000,000 1,417,001 2,986,762 4,403,763 75
2017-18 3,000,000 6,184,143 1,906,277 8,090,420 80
2018-19 3,000,000 3,629,281 3,865,363 7,494,644 78
2019-20 3,000,000 966,845 140,711 1,107,556 81
2020-21 - 1,792,695 256,185 2,048,880 81
2021-22 250,000 294,363 2,103,352 2,397,715 80
2022-23 900,000 2,649,980 523,839 3,173,875 77
General Fund
The Town also has an on-going street rehabilitation program funded in the Capital Improvement Program that is
intended to improve the condition rating of Town streets. The rehabilitation program is formulated based on
deficiencies identified as a part of its Pavement Management System. As of June 30, 2023, approximately 30% of the
Town's streets were rated below the average standard of 70. The Town will continue to rehabilitate these segments of
the streets. Total deficiencies (deferred maintenance) identified in the Pavement Management System amounted to
approximately $20,500,000 for all streets.
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SUPPLEMENTARY INFORMATION
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NON-MAJOR GOVERNMENTAL FUNDS
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Town of Danville
Non-Major Governmental Funds
88
SPECIAL REVENUE FUNDS
PEG Fund
Any state video franchisee offering service within the Town pays sixty cents ($0.60) per month per subscriber to
support Public, Educational and Governmental ("PEG") channel facilities. This fund is restricted to capital
expenditures allowing the Town to provide PEG programming to residents.
Gas Tax Fund
This fund is used to account for the portion of the taxes paid on the purchase of gasoline, which the Town receives
from the State of California. Use of the fund is restricted to street and related improvements and maintenance costs.
Building/Planning Fund
This fund receives fees for planning applications and permits and building inspection and plan review fees collected
during the building permit process. Use of this fund is restricted to offsetting the costs of providing building and
planning services to permittees.
Development Engineering Fund
This fund receives fees for permits and plan review for engineering and subdivision applications. Use of this fund is
restricted to offsetting the costs of providing these services.
Child Care Fund
This Fund receives child care fees paid by new developments. All funds are restricted to the development or
promotion of child care facilities within Danville.
Stormwater Pollution Control Program (SPCP) Fund
This Fund is used to account for National Pollution Discharge Elimination Services (NPDES) assessments paid by
property owners for administration, inspection and maintenance of storm drain systems, including street sweeping,
necessary to comply with the stormwater pollution permits issued by the Regional Water Quality Control Board.
Measure C/J Fund
Since 1988, Contra Costa County voters have paid a one-half cent sales tax for transportation purposes to be
collected through 2034. Eighteen percent of the funds collected throughout the County are distributed back to each
local jurisdiction on the basis of population and road miles. Receipt of these funds is tied to compliance with the
Town’s General Plan Growth Management Element. Use of this fund is restricted to street and pavement
management and transportation planning.
Donations and Contributions Fund
The Town receives donations and contributions for selected programs such as the police K-9 program and downtown
beautification. Use of these funds is restricted to the specific terms of the individual donation.
General Development Impact Fees Fund
The Town levies a number of development impact fees to mitigate the impacts of new development, primarily
transportation impact fees. The use of these funds is limited by the specific purpose of the individual fee and the
impact to be mitigated.
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Town of Danville
Non-Major Governmental Funds (Continued)
89
SPECIAL REVENUE FUNDS
Public Safety Fund
Special revenues for police programs are reported in this fund. Included are Supplemental Law Enforcement Services
Funds (SLESF) funds provided by the State, Abandoned Vehicle and Asset Seizure revenues. The use of these funds
is limited to use by the Police Department by the specific purpose of the fee.
Old Town Parking In-Lieu Fund
A development impact mitigation fee imposed on new developments in the Downtown Business District which rely,
at least in part, on off-site public parking. Use of the Fund is restricted to the provision of additional Town-owned
parking.
Solid Waste Vehicle Impact Fee Fund
This fund receives impact fees collected through the solid waste franchise to partially offset the impacts associated
with solid waste, recycling and yard waste refuse vehicles using Town streets. The use of this Fund is restricted to
street and pavement rehabilitation.
Low and Moderate Income Housing Fund
Prior to the State of California’s dissolution of redevelopment agencies in 2011, the Town’s Community
Development Agency (CDA) maintained a Low and Moderate-Income Housing Fund as required by the law. Upon
dissolution, the Town opted to create a Successor Housing Agency to assume all of the housing assets and liabilities
of the former CDA. The use of this Fund is restricted to the creation, rehabilitation or addition of low or moderate-
income housing within the Town.
CAPITAL PROJECTS FUNDS
Asset Replacement General Fund
Contributions are made into this Fund from the General Fund for the eventual replacement and refurbishment of
fixed assets.
Asset Replacement Library Fund
Contributions are made into this Fund from private donations and the General Fund for the eventual replacement and
refurbishment of Library equipment.
Civic Facilities Capital Projects Fund
This Fund receives contributions from the General Fund and is used to account for the construction of community
facilities such as the Danville Library, Community Center, Town Offices, Oak Hill Park Community Center and
future new park and recreation facilities.
Park Facilities Fund
Contributions are made into this Fund from the General Fund for the construction and renovation of parks within the
Town.
Northeast Road Improvements Assessment District Fund
During the period from 1985 to 1990, the Northeast Road Improvements Assessment District (NERIAD) were
formed within the Town of Danville to construct improvements in these areas.
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Town of Danville
Non-Major Governmental Funds (Continued)
90
Tassajara Road Improvements Assessment District Fund
Assessment District formed for the Tassajara Ranch developments to fund the development of Diablo Vista Park,
traffic improvements to mitigate project related impacts, and maintenance of existing improvements for the benefit of
district properties.
Sycamore Valley Assessment District Fund
Development impact fees are collected on residential units in excess of the original 278 units located within the
Sycamore Valley Benefit District. Funds are used for traffic mitigation, projects and maintenance of existing
improvements for the benefit of the benefit district properties.
Technology Fund
This Fund was created in FY 2011/12 and receives contributions from the General Fund for the implementation of
the Town's five-year Technology Master Plan.
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Building/ Development
PEG Gas Tax Planning Engineering Child Care
ASSETS
Cash and investments $ 140,276 $ 5,199,851 $ 5,708,010 $ 2,695,260 $ 366,255
Cash and investments with fiscal agent - - - - -
Receivables (net of allowances):
Accounts 195,384 176,295 100 - -
Interest 955 14,541 - - 825
Total assets $ 336,615 $ 5,390,687 $ 5,708,110 $ 2,695,260 $ 367,080
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 38 247,062 45,883 21,430 32
Accrued wages - 15,126 36,357 765 -
Retention payable - - - - -
Deposits payable - - - 42,670 -
Unearned revenue - 30,120 17,486 - -
Total liabilities 38 292,308 99,726 64,865 32
Fund Balances:
Restricted 336,577 5,098,379 5,608,384 2,630,395 367,048
Committed - - - - -
Total fund balances 336,577 5,098,379 5,608,384 2,630,395 367,048
Total liabilities and fund balances $ 336,615 $ 5,390,687 $ 5,708,110 $ 2,695,260 $ 367,080
(Continued)
Town of Danville
Non-Major Governmental Funds
Combining Balance Sheet
June 30, 2023
Special Revenue
91
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Stormwater
Pollution Donation General
Control and Development Public
Program Measure C/J Contributions Impact Fees Safety
ASSETS
Cash and investments $ 2,190,711 $ 2,853,497 $ 317,884 $ 3,362,159 $ 677,104
Cash and investments with fiscal agent - - - - -
Receivables (net of allowances):
Accounts 148,982 - 83 6,541 4,717
Interest 6,366 8,264 555 8,977 2,225
Total assets $ 2,346,059 $ 2,861,761 $ 318,522 $ 3,377,677 $ 684,046
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 53,512 135,141 37,302 408,603 87
Accrued wages 2,207 3,741 - - 147
Retention payable - - - 8,615 -
Deposits payable - - - - -
Unearned revenue - - - - -
Total liabilities 55,719 138,882 37,302 417,218 234
Fund Balances:
Restricted 2,290,340 2,722,879 281,220 2,960,459 683,812
Committed - - - - -
Total fund balances 2,290,340 2,722,879 281,220 2,960,459 683,812
Total liabilities and fund balances $ 2,346,059 $ 2,861,761 $ 318,522 $ 3,377,677 $ 684,046
(Continued)
Special Revenue
Town of Danville
Non-Major Governmental Funds
Combining Balance Sheet (Continued)
June 30, 2023
92
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Low and
Old Town Solid Waste Moderate Asset Asset
Parking In- Vehicle Impact Income Replacement Replacement
Lieu Fees Housing General Library
ASSETS
Cash and investments $ 622,396 $ 3,073,529 $ 1,918,135 $ 3,436,773 $ 822,103
Cash and investments with fiscal agent - - - - -
Receivables (net of allowances):
Accounts - - - - -
Interest 1,686 - 5,890 8,937 1,890
Total assets $ 624,082 $ 3,073,529 $ 1,924,025 $ 3,445,710 $ 823,993
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 66 4,000 232 253,984 9,562
Accrued wages - - - - -
Retention payable - - - - -
Deposits payable - - - - -
Unearned revenue - - - - -
Total liabilities 66 4,000 232 253,984 9,562
Fund Balances:
Restricted 624,016 3,069,529 1,923,793 - -
Committed - - - 3,191,726 814,431
Total fund balances 624,016 3,069,529 1,923,793 3,191,726 814,431
Total liabilities and fund balances $ 624,082 $ 3,073,529 $ 1,924,025 $ 3,445,710 $ 823,993
(Continued)
Special Revenue Capital Projects
Town of Danville
Non-Major Governmental Funds
Combining Balance Sheet (Continued)
June 30, 2023
93
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Northeast
Road Tassajara Sycamore
Improvements Ranch Valley
Civic Park Special Assessment Assessment
Facilities Facilities Assessment District District
ASSETS
Cash and investments $ 338,333 $ 4,107,100 $ 341,328 $ 36,357 $ 16,952
Cash and investments with fiscal agent - - 813,920 - -
Receivables (net of allowances):
Accounts - - - - -
Interest 1,074 12,119 2,597 110 26
Total assets $ 339,407 $ 4,119,219 $ 1,157,845 $ 36,467 $ 16,978
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 9,386 614,848 156 1 1
Accrued wages - - - - -
Retention payable 180 44,215 - - -
Deposits payable - - - - -
Unearned revenue - - - - -
Total liabilities 9,566 659,063 156 1 1
Fund Balances:
Restricted - - - - -
Committed 329,841 3,460,156 1,157,689 36,466 16,977
Total fund balances 329,841 3,460,156 1,157,689 36,466 16,977
Total liabilities and fund balances $ 339,407 $ 4,119,219 $ 1,157,845 $ 36,467 $ 16,978
(Continued)
Capital Projects
Town of Danville
Non-Major Governmental Funds
Combining Balance Sheet (Continued)
June 30, 2023
94
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Capital Projects
Total
Non-Major
Technology Governmental
Fund Funds
ASSETS
Cash and investments $ 184,659 $ 38,408,672
Cash and investments with fiscal agent - 813,920
Receivables (net of allowances):
Accounts - 532,102
Interest - 77,037
Total assets $ 184,659 $ 39,831,731
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 12,204 1,853,530
Accrued wages - 58,343
Retention payable - 53,010
Deposits payable - 42,670
Unearned revenue - 47,606
Total liabilities 12,204 2,055,159
Fund Balances:
Restricted - 28,596,831
Committed 172,455 9,179,741
Total fund balances 172,455 37,776,572
Total liabilities and fund balances $ 184,659 $ 39,831,731
(Concluded)
Town of Danville
Non-Major Governmental Funds
Combining Balance Sheet (Continued)
June 30, 2023
95
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Building/ Development
PEG Gas Tax Planning Engineering Child Care
REVENUES:
Special assessments -$ -$ -$ -$ -$
Other taxes 67,489 2,059,781 - - -
Charges for services - - 523,396 593,819 -
License and permits - - 5,667 - -
Development fees - - 2,896,318 2,204 63,492
Intergovernmental - - 35,930 - -
Use of money and property 3,954 56,675 - - 3,720
Miscellaneous - 840 - - -
Total revenues 71,443 2,117,296 3,461,311 596,023 67,212
EXPENDITURES:
Current:
General government - - - - -
Police services - - - - -
Maintenance services - 858,275 - - -
Development services - 309,794 2,280,317 396,159 -
Administrative services 191 5,840 - - 786
Recreation, arts & community services - - - - -
Capital outlay 5,000 - - - -
Total expenditures 5,191 1,173,909 2,280,317 396,159 786
REVENUES OVER (UNDER) EXPENDITURES 66,252 943,387 1,180,994 199,864 66,426
OTHER FINANCING SOURCES (USES):
Proceeds from sale of property - - - - -
Transfers in - - - - -
Transfers out - - (50,000) - -
Total other financing sources (uses)- - (50,000) - -
NET CHANGE IN FUND BALANCES 66,252 943,387 1,130,994 199,864 66,426
FUND BALANCES:
Beginning of year 270,325 4,154,992 4,477,390 2,430,531 300,622
End of year 336,577$ 5,098,379$ 5,608,384$ 2,630,395$ 367,048$
(Continued)
Special Revenue
Town of Danville
Non-Major Governmental Funds
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances
For the Year Ended June 30, 2023
96
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Stormwater
Pollution Donation General
Control Measure and Development Public
Program C/J Contributions Impact Fees Safety
REVENUES:
Special assessments 556,698$ -$ -$ -$ -$
Other taxes - - - - -
Charges for services 1,740 - - - -
License and permits - - - - -
Development fees - - - 115,064 -
Intergovernmental 11,125 1,102,869 - - 180,440
Use of money and property 27,803 28,238 3,267 68,169 9,114
Miscellaneous - 360 12,333 6,541 -
Total revenues 597,366 1,131,467 15,600 189,774 189,554
EXPENDITURES:
Current:
General government - - 500 - -
Police services - - 4,345 - 114,003
Maintenance services 8,686 - - 401,602 -
Development services 685,519 354,356 - 21,065 -
Administrative services 1,457 1,542 177 2,040 446
Recreation, arts & community services - - 23,711 63,060 -
Capital outlay - 265,772 450 4,300 -
Total expenditures 695,662 621,670 29,183 492,067 114,449
REVENUES OVER (UNDER) EXPENDITURES (98,296) 509,797 (13,583) (302,293) 75,105
OTHER FINANCING SOURCES (USES):
Proceeds from sale of property - - - - -
Transfers in - - - - -
Transfers out - - - - -
Total other financing sources (uses)- - - - -
NET CHANGE IN FUND BALANCES (98,296) 509,797 (13,583) (302,293) 75,105
FUND BALANCES:
Beginning of year 2,388,636 2,213,082 294,803 3,262,752 608,707
End of year 2,290,340$ 2,722,879$ 281,220$ 2,960,459$ 683,812$
(Continued)
Special Revenue
Town of Danville
Non-Major Governmental Funds
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued)
For the Year Ended June 30, 2023
97
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Low and
Old Town Solid Waste Moderate Asset Asset
Parking In- Vehicle Impact Income Replacement Replacement
Lieu Fees Housing General Library
REVENUES:
Special assessments -$ -$ -$ -$ -$
Other taxes - 877,238 - - -
Charges for services - - - - -
License and permits - - - - -
Development fees - - - - -
Intergovernmental - - - - -
Use of money and property 7,577 - 21,275 31,313 (10,088)
Miscellaneous - - 22,745 8,816 -
Total revenues 7,577 877,238 44,020 40,129 (10,088)
EXPENDITURES:
Current:
General government - - - - -
Police services - - - 4,631 -
Maintenance services - - - 243,427 9,488
Development services - - - 24,404 -
Administrative services 382 - 2,107 19,128 430
Recreation, arts & community services - - - - -
Capital outlay - - - 465,258 -
Total expenditures 382 - 2,107 756,848 9,918
REVENUES OVER (UNDER) EXPENDITURES 7,195 877,238 41,913 (716,719) (20,006)
OTHER FINANCING SOURCES (USES):
Proceeds from sale of property - - 600,000 - -
Transfers in - - - 1,125,000 -
Transfers out - - - - -
Total other financing sources (uses)- - 600,000 1,125,000 -
NET CHANGE IN FUND BALANCES 7,195 877,238 641,913 408,281 (20,006)
FUND BALANCES:
Beginning of year 616,821 2,192,291 1,281,880 2,783,445 834,437
End of year 624,016$ 3,069,529$ 1,923,793$ 3,191,726$ 814,431$
(Continued)
Special Revenue Capital Projects
Town of Danville
Non-Major Governmental Funds
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued)
For the Year Ended June 30, 2023
98
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Northeast
Road Tassajara Sycamore
Improvements Ranch Valley
Civic Park Special Assessment Assessment
Facilities Facilities Assessment District District
REVENUES:
Special assessments -$ -$ -$ -$ -$
Other taxes - - - - -
Charges for services - - - - -
License and permits - - - - -
Development fees - - - - -
Intergovernmental - 27,668 - - -
Use of money and property 3,829 57,038 (24,465) 496 163
Miscellaneous - 29,883 - - -
Total revenues 3,829 114,589 (24,465) 496 163
EXPENDITURES:
Current:
General government - - - - -
Police services - - 4,916 - -
Maintenance services 33,969 980,570 - - -
Development services - 12,709 - - -
Administrative services 254 2,989 875 4 11
Recreation, arts & community services - 16,364 - - -
Capital outlay - 178,160 27,968 - -
Total expenditures 34,223 1,190,792 33,759 4 11
REVENUES OVER (UNDER) EXPENDITURES (30,394) (1,076,203) (58,224) 492 152
OTHER FINANCING SOURCES (USES):
Proceeds from sale of property - - - - -
Transfers in - - - - -
Transfers out - - - - -
Total other financing sources (uses)- - - - -
NET CHANGE IN FUND BALANCES (30,394) (1,076,203) (58,224) 492 152
FUND BALANCES:
Beginning of year 360,235 4,536,359 1,215,913 35,974 16,825
End of year 329,841$ 3,460,156$ 1,157,689$ 36,466$ 16,977$
(Continued)
Capital Projects
Town of Danville
Non-Major Governmental Funds
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued)
For the Year Ended June 30, 2023
99
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Capital Projects
Total
Non-Major
Technology Governmental
Fund Funds
REVENUES:
Special assessments -$ 556,698$
Other taxes - 3,004,508
Charges for services - 1,118,955
License and permits - 5,667
Development fees - 3,077,078
Intergovernmental - 1,358,032
Use of money and property - 288,078
Miscellaneous - 81,518
Total revenues - 9,490,534
EXPENDITURES:
Current:
General government - 500
Police services 89,724 217,619
Maintenance services - 2,536,017
Development services - 4,084,323
Administrative services 8,579 47,238
Recreation, arts & community services - 103,135
Capital outlay 238,961 1,185,869
Total expenditures 337,264 8,174,701
REVENUES OVER (UNDER) EXPENDITURES (337,264) 1,315,833
OTHER FINANCING SOURCES (USES):
Proceeds from sale of property - 600,000
Transfers in - 1,125,000
Transfers out - (50,000)
Total other financing sources (uses)- 1,675,000
NET CHANGE IN FUND BALANCES (337,264) 2,990,833
FUND BALANCES:
Beginning of year 509,719 34,785,739
End of year 172,455$ 37,776,572$
(Concluded)
Town of Danville
Non-Major Governmental Funds
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued)
For the Year Ended June 30, 2023
100
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Variance From
Original Final Actual Final Budget
REVENUES:
Other taxes 82,000$ 82,000$ 67,489$ (14,511)$
Use of money and property - - 3,954 3,954
Total revenues 82,000 82,000 71,443 (10,557)
EXPENDITURES:
Current:
General government
City Clerk 32,421 32,421 - 32,421
Total general government 32,421 32,421 - 32,421
Administrative services
Finance 514 514 191 323
Total administrative services 514 514 191 323
Capital outlay 257,297 257,297 5,000 252,297
Total expenditures 290,232 290,232 5,191 285,041
NET CHANGE IN FUND BALANCE (208,232)$ (208,232)$ 66,252 274,484$
FUND BALANCE:
Beginning of year 270,325
End of year 336,577$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
PEG Special Revenue Fund
For the Year Ended June 30, 2023
101
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Variance From
Original Final Actual Final Budget
REVENUES:
Other taxes -$ -$ 2,059,781$ 2,059,781$
Use of money and property - - 56,675 56,675
Miscellaneous - - 840 840
Total revenues - - 2,117,296 2,117,296
EXPENDITURES:
Current:
Maintenance services
Street maintenance 666,039 677,214 605,427 71,787
Traffic signal maintenance 233,500 265,361 252,848 12,513
Total maintenance services 899,539 942,575 858,275 84,300
Development services
Management 69,984 69,984 45,556 24,428
Transportation 331,514 348,910 264,238 84,672
Total development services 401,498 418,894 309,794 109,100
Administrative services
Finance 4,903 4,903 5,840 (937)
Total administrative services 4,903 4,903 5,840 (937)
Total expenditures 1,305,940 1,366,372 1,173,909 192,463
NET CHANGE IN FUND BALANCE (1,305,940)$ (1,366,372)$ 943,387 2,309,759$
FUND BALANCE:
Beginning of year 4,154,992
End of year 5,098,379$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Gas Tax Special Revenue Fund
For the Year Ended June 30, 2023
102
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Variance From
Original Final Actual Final Budget
REVENUES:
Charges for services 341,200$ 341,200$ 523,396$ 182,196$
Licenses and permits - - 5,667 5,667
Development fees 1,635,000 1,635,000 2,896,318 1,261,318
Intergovernmental 177,000 177,000 35,930 (141,070)
Total revenues 2,153,200 2,153,200 3,461,311 1,308,111
EXPENDITURES:
Current:
Development services
Management 251,924 251,924 233,227 18,697
Planning 559,052 1,043,765 555,843 487,922
Building 1,478,001 1,598,001 1,397,902 200,099
Code enforcement 114,329 114,329 93,345 20,984
Total development services 2,403,306 3,008,019 2,280,317 727,702
Total expenditures 2,403,306 3,008,019 2,280,317 727,702
REVENUES OVER (UNDER) EXPENDITURES (250,106) (854,819) 1,180,994 2,035,813
OTHER FINANCING (USES)
Transfers out - - (50,000) (50,000)
Total other financing (uses)- - (50,000) (50,000)
NET CHANGE IN FUND BALANCE (250,106)$ (854,819)$ 1,130,994 1,985,813$
FUND BALANCE:
Beginning of year 4,477,390
End of year 5,608,384$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Building and Planning Special Revenue Fund
For the Year Ended June 30, 2023
103
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Variance From
Original Final Actual Final Budget
REVENUES:
Charges for services 301,705$ 301,705$ 593,819$ 292,114$
Development fees 500 500 2,204 1,704
Total revenues 302,205 302,205 596,023 293,818
EXPENDITURES:
Current:
Development services
Engineering 460,698 485,571 396,159 89,412
Total development services 460,698 485,571 396,159 89,412
Total expenditures 460,698 485,571 396,159 89,412
NET CHANGE IN FUND BALANCE (158,493)$ (183,366)$ 199,864 383,230$
FUND BALANCE:
Beginning of year 2,430,531
End of year 2,630,395$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Development Engineering Special Revenue Fund
For the Year Ended June 30, 2023
104
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Original Final Actual Final Budget
REVENUES
Development fees -$ -$ 63,492$ 63,492$
Use of money and property 1,199 1,199 3,720 2,521
Total revenues 1,199 1,199 67,212 66,013
EXPENDITURES
Current:
Administrative services
Management - 600 600 -
Finance 207 207 186 21
Total administrative services 207 807 786 21
Total expenditures 207 807 786 21
NET CHANGE IN FUND BALANCE 992$ 392$ 66,426 66,034$
FUND BALANCE:
Beginning of year 300,622
End of year 367,048$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Child Care Special Revenue Fund
For the Year Ended June 30, 2023
105
FINAL
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Variance From
Original Final Actual Final Budget
REVENUES:
Special assessments 562,154$ 562,154$ 556,698$ (5,456)$
Charges for services 1,010 1,010 1,740 730
Intergovernmental 34,050 34,050 11,125 (22,925)
Use of money and property 572,700 572,700 27,803 (544,897)
Total revenues 1,169,914 1,169,914 597,366 (572,548)
EXPENDITURES:
Current:
Maintenance services
Steet maintenance 13,859 18,859 8,686 10,173
Total maintenance services 13,859 18,859 8,686 10,173
Development services
Capital project management 93,000 93,000 87,000 6,000
Clean water program 724,213 587,093 598,519 (11,426)
Total development services 817,213 680,093 685,519 (5,426)
Administrative services
Finance 13,833 1,383 1,457 (74)
Total administrative services 13,833 1,383 1,457 (74)
Capital outlay - - - -
Total expenditures 844,905 700,335 695,662 4,673
NET CHANGE IN FUND BALANCE 325,009$ 469,579$ (98,296) (567,875)$
FUND BALANCE:
Beginning of year 2,388,636
End of year 2,290,340$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Stormwater Pollution Control Program (SPCP) Special Revenue Fund
For the Year Ended June 30, 2023
106
FINAL
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Variance From
Original Final Actual Final Budget
REVENUES:
Intergovernmental 8,807,700$ 8,889,214$ 1,102,869$ (7,786,345)$
Use of money and property 10,139 10,139 28,238 18,099
Miscellaneous - - 360 360
Total revenues 8,817,839 8,899,353 1,131,467 (7,767,886)
EXPENDITURES:
Current:
Development services
Management 69,984 69,984 44,855 25,129
Capital project management 4,263,172 4,749,686 157,213 4,592,473
Transportation 222,154 222,154 152,288 69,866
Total development services 4,555,310 5,041,824 354,356 4,687,468
Administrative services
Finance 1,518 1,518 1,542 (24)
Administrative services 1,518 1,518 1,542 (24)
Capital outlay 4,875,272 4,630,772 265,772 4,365,000
Total expenditures 9,432,100 9,674,114 621,670 9,052,444
NET CHANGE IN FUND BALANCE (614,261)$ (774,761)$ 509,797 1,284,558$
FUND BALANCE:
Beginning of year 2,213,082
End of year 2,722,879$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Measure C/J Special Revenue Fund
For the Year Ended June 30, 2023
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Original Final Actual Final Budget
REVENUES:
Use of money and property 974$ 974$ 3,267$ 2,293$
Miscellaneous 3,760 3,760 12,333 8,573
Total revenues 4,734 4,734 15,600 10,866
EXPENDITURES:
Current:
General government
Town Council 500 500 500 -
Total general government 500 500 500 -
Police services
Patrol - 26,713 4,345 22,368
Total police services - 26,713 4,345 22,368
Maintenance services
Park maintenance 3,000 3,000 - 3,000
Total maintenance services 3,000 3,000 - 3,000
Administrative services
Finance 275 275 177 98
Total administrative services 275 275 177 98
Recreation, arts & community services
Recreation management 93,494 93,494 23,711 69,783
Culture arts 2,000 2,000 - 2,000
Total recreation, arts & community services 95,494 95,494 23,711 71,783
Capital outlay - - 450 (450)
Total expenditures 99,269 125,982 29,183 96,799
NET CHANGE IN FUND BALANCE (94,535)$ (121,248)$ (13,583) 107,665$
FUND BALANCE:
Beginning of year 294,803
End of year 281,220$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Donations and Contributions Special Revenue Fund
For the Year Ended June 30, 2023
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Original Final Actual Final Budget
REVENUES:
Development fees -$ -$ 115,064$ 115,064$
Use of money and property - - 68,169 68,169
Miscellaneous 165,670 185,670 6,541 (179,129)
Total revenues 165,670 185,670 189,774 4,104
EXPENDITURES:
Current:
Maintenance services
Park maintenance 826,434 846,434 401,602 444,832
Total maintenance services 826,434 846,434 401,602 444,832
Development services
Capital project management 59,888 66,664 21,065 45,599
Total development services 59,888 66,664 21,065 45,599
Administrative services
Finance 3,371 3,371 2,040 1,331
Total administrative services 3,371 3,371 2,040 1,331
Recreation, arts & community services
Recreation management 468,691 593,691 63,060 530,631
Total recreation, arts & community services 468,691 593,691 63,060 530,631
Capital outlay 298,160 308,160 4,300 303,860
Total expenditures 1,656,544 1,818,320 492,067 1,326,253
NET CHANGE IN FUND BALANCE (1,490,874)$ (1,632,650)$ (302,293) 1,330,357$
FUND BALANCE:
Beginning of year 3,262,752
End of year 2,960,459$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
General Development Impact Fees Special Revenue Fund
For the Year Ended June 30, 2023
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Original Final Actual Final Budget
REVENUES:
Intergovernmental 124,000$ 124,000$ 180,440$ 56,440$
Use of money and property 1,246 1,246 9,114 7,868
Total revenues 125,246 125,246 189,554 64,308
EXPENDITURES:
Current:
Police services
Youth services 140,000 140,000 114,003 25,997
Total police services 140,000 140,000 114,003 25,997
Administrative services
Finance 275 275 446 (171)
Total administrative services 275 275 446 (171)
Total expenditures 140,275 140,275 114,449 25,826
NET CHANGE IN FUND BALANCE (15,029)$ (15,029)$ 75,105 90,134$
FUND BALANCE:
Beginning of year 608,707
End of year 683,812$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Public Safety Special Revenue Fund
For the Year Ended June 30, 2023
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Original Final Actual Final Budget
REVENUES:
Use of money and property -$ -$ 7,577$ 7,577$
Total revenues - - 7,577 7,577
EXPENDITURES:
Current:
Administrative services
Finance 512 512 382 130
Total administrative services 512 512 382 130
Total expenditures 512 512 382 130
NET CHANGE IN FUND BALANCE (512)$ (512)$ 7,195 7,707$
FUND BALANCE:
Beginning of year 616,821
End of year 624,016$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Old Town Parking In-Lieu Special Revenue Fund
For the Year Ended June 30, 2023
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Original Final Actual Final Budget
REVENUES:
Other taxes 872,257$ 872,257$ 877,238$ 4,981$
Total revenues 872,257 872,257 877,238 4,981
EXPENDITURES:
Current:
Development services
Capital project management 1,925,000 2,775,000 - 2,775,000
Total development services 1,925,000 2,775,000 - 2,775,000
Total expenditures 1,925,000 2,775,000 - 2,775,000
NET CHANGE IN FUND BALANCE (1,052,743)$ (1,902,743)$ 877,238 2,779,981$
FUND BALANCE:
Beginning of year 2,192,291
End of year 3,069,529$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Solid Waste Vehicle Impact Fee Special Revenue Fund
For the Year Ended June 30, 2023
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Original Final Actual Final Budget
REVENUES:
Use of money and property -$ -$ 21,275$ 21,275$
Miscellaneous - - 22,745 22,745
Total revenues - - 44,020 44,020
EXPENDITURES:
Current:
Administrative services
Finance 2,800 3,708 2,107 1,601
Total administrative services 2,800 3,708 2,107 1,601
Total expenditures 2,800 3,708 2,107 1,601
REVENUES OVER (UNDER) EXPENDITURES (2,800) (3,708) 41,913 45,621
OTHER FINANCING SOURCES (USES)
Proceeds from sale of property - - 600,000 600,000
Total other financing sources (uses)- - 600,000 600,000
NET CHANGE IN FUND BALANCE (2,800)$ (3,708)$ 641,913 645,621$
FUND BALANCE:
Beginning of year 1,281,880
End of year 1,923,793$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Low and Moderate Income Housing Special Revenue Fund
For the Year Ended June 30, 2023
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STATISTICAL SECTION
(Unaudited)
Included in this section of the Town of Danville annual comprehensive financial report is detailed information to assist in
analysis and understanding of the information presented in the financial statements, notes and required supplementary
information.
Contents
Financial Trends
These schedules contain trend information to help the reader understand how the Town's financial position has changed
over time.
Revenue Capacity
These schedules contain detailed information to help the reader assess the Town's most significant local revenue source,
property tax.
Debt Capacity
These schedules present information to help the reader assess the affordability of the Town's current levels of outstanding debt
and the Town's ability to issue debt in the future.
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within which the
Town's financial activities take place.
Operating Information
These schedules provide service and infrastructure data to help the reader understand how the information in the Town's
financial report relates to the services the Town provides and the activities it performs.
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FINANCIAL TRENDS
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2014 2015 2016 2017 2018
Governmental Activities:
Net investment in capital assets 145,858,981$ 149,697,964$ 154,909,051$ 155,792,439$ 162,998,663$
Restricted 48,477,964 23,655,107 26,812,236 24,437,153 23,784,733
Unrestricted 51,728,377 69,968,657 68,822,679 72,257,190 64,907,258
Total Governmental Activities Net Position 246,065,322$ 243,321,728$ 250,543,966$ 252,486,782$ 251,690,654$
Primary Government:
Net investment in capital assets 145,858,981$ 149,697,964$ 154,909,051$ 155,792,439$ 162,998,663$
Restricted 48,477,964 23,655,107 26,812,236 24,437,153 23,784,733
Unrestricted 51,728,377 69,968,657 68,822,679 72,257,190 64,907,258
Total Primary Governmental Net Position 246,065,322$ 243,321,728$ 248,532,815$ 252,486,782$ 251,690,654$
(Accrual Basis of Accounting)
Fiscal Year
Town of Danville
Net Position by Component
Last Ten Fiscal Years
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2019 2020 2021 2022 2023
Governmental Activities:
Net investment in capital assets 166,215,901$ 174,968,722$ 177,508,851$ 183,525,435$ 188,058,533$
Restricted 24,398,492 26,961,172 29,438,411 31,650,998 36,500,926
Unrestricted 65,271,882 61,659,221 65,882,561 64,299,019 66,412,003
Total Governmental Activities Net Position 255,886,275$ 263,589,115$ 272,829,823$ 279,475,452$ 290,971,462$
Primary Government:
Net investment in capital assets 166,215,901$ 174,968,722$ 177,508,851$ 183,525,435$ 188,058,533$
Restricted 24,398,492 26,961,172 29,438,411 31,650,998 36,500,926
Unrestricted 65,271,882 61,659,221 65,882,561 64,299,019 66,412,003
Total Primary Governmental Net Position 251,690,654$ 263,589,115$ 272,829,823$ 279,475,452$ 290,971,462$
Note:
The Town of Danville does not have any business-type activities.
(Accrual Basis of Accounting)
Fiscal Year
Town of Danville
Net Position by Component (Continued)
Last Ten Fiscal Years
0
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2014 2015 2016 2017 20182019 2020 2021 2022 2023
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Net investment in capital assets Restricted Unrestricted
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Expenses:
Governmental activities:
General Government 1,707,946$ 1,527,466$ 1,592,763$ 1,658,023$ 1,821,906$
Police Services 7,192,736 8,565,667 8,914,297 9,107,939 9,668,148
Maintenance Services & Lighting & Landscape 6,136,448 7,589,476 8,262,373 7,963,358 7,824,106
Development Services 7,545,035 14,348,084 5,233,296 8,568,817 12,113,185
Administrative Services 2,301,375 3,244,813 4,080,262 3,690,675 3,511,181
Recreation Services 3,711,977 3,877,829 3,847,434 4,129,417 4,016,368
Interest on long-term debt 415,129 369,274 364,866 345,931 345,473
Total governmental activities expenses 29,010,646 39,522,609 32,295,291 35,464,160 39,300,367
Total primary government expenses 29,010,646$ 39,522,609$ 32,295,291$ 35,464,160$ 39,300,367$
Program Revenues:
Governmental Activities:
Charges for Services:
General Government -$ -$ 10$ 30$ 30$
Police Services 499,517 429,625 424,470 314,597 295,805
Maintenance Services, Lighting & Landscape 3,110,836 3,033,384 3,036,737 3,142,080 3,060,686
Development Services 3,686,295 4,196,817 4,285,454 3,575,751 3,792,303
Administrative Services - - 35,186 36,308 36,400
Recreation, Arts & Community Services 2,178,636 2,433,110 2,079,801 2,196,610 2,058,014
Operating grants and contributions 933,466 1,110,167 950,437 911,003 1,205,123
Capital grants and contributions 1,936,672 1,676,661 1,276,567 2,591,351 2,521,475
Total governmental activities program revenues 12,345,422$ 12,879,764$ 12,088,662$ 12,767,730$ 12,969,836$
Total primary government program revenues 12,345,422$ 12,879,764$ 12,088,662$ 12,767,730$ 12,969,836$
Net (Expense)/Revenue
Governmental activities (16,665,224)$ (26,642,845)$ (20,206,629)$ (22,696,430)$ (22,696,430)$
Total Primary Government, Net Expenses (16,665,224)$ (26,642,845)$ (20,206,629)$ (22,696,430)$ (22,696,430)$
Notes:
1. Depreciation was netted against program expenditures beginning in 2004.
2. The Town of Danville does not have any business-type activities.
*FY 2008-09 Transportation Services program was combined with Development Services program
**FY 2014-15: Legislative, Town Manager and Legal Services programs were combined with General Government
Community Development program was combined with Development Services
(Accrual Basis of Accounting)
Fiscal Year
Town of Danville
Changes in Net Position
Last Ten Fiscal Years
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Expenses:
Governmental activities:
General Government 1,648,107$ 1,988,737$ 1,727,404$ 2,773,284$ 2,999,255$
Police Services 9,908,945 9,824,261 9,141,598 9,972,541 10,594,467
Maintenance Services & Lighting & Landscape 8,512,749 9,400,476 8,999,904 8,990,730 11,973,823
Development Services 12,589,561 5,769,904 6,231,119 7,246,100 6,931,034
Administrative Services 3,625,899 3,816,145 3,632,890 3,558,462 3,798,969
Recreation, Arts & Community Services 4,273,896 3,794,136 2,722,675 3,137,966 4,096,414
Interest on long-term debt 325,210 325,210 282,675 256,521 234,055
Total governmental activities expenses 40,884,367 34,916,610 32,738,265 35,935,604 40,628,017
Total primary government expenses 40,884,367$ 34,916,610$ 32,738,265$ 35,935,604$ 40,628,017$
Program Revenues
Governmental Activities:
Charges for Services:
General Government 1,126$ -$ -$ 10$ 15,923$
Police Services 308,210 296,126 187,548 179,616 173,594
Maintenance Services, Lighting & Landscape 3,046,475 3,059,330 3,047,952 3,050,308 3,611,916
Development Services 4,473,140 3,374,462 3,738,947 4,471,835 4,386,782
Administrative Services 38,126 31,693 28,145 570,388 297,553
Recreation, Arts & Community Services 2,041,182 1,427,112 846,805 1,378,764 1,719,893
Operating grants and contributions 2,132,610 1,873,835 2,271,372 3,445,191 2,367,059
Capital grants and contributions 3,880,922 1,358,781 2,169,054 1,542,184 5,050,477
Total governmental activities program revenues 15,921,791$ 11,421,339$ 12,289,823$ 14,638,296$ 17,623,197$
Total primary government program revenues 15,921,791$ 11,421,339$ 12,289,823$ 14,638,296$ 17,623,197$
Net (Expense)/Revenue
Governmental activities (24,962,576)$ (23,495,271)$ (20,448,442)$ (21,297,308)$ (23,004,820)$
Total Primary Government, Net Expenses (24,962,576)$ (23,495,271)$ (20,448,442)$ (21,297,308)$ (23,004,820)$
Notes:
1. Depreciation was netted against program expenditures beginning in 2004.
2. The Town of Danville does not have any business-type activities.
*FY 2008-09 Transportation Services program was combined with Development Services program
**FY 2014-15: Legislative, Town Manager and Legal Services programs were combined with General Government
Community Development program was combined with Development Services
(Accrual Basis of Accounting)
Fiscal Year
Town of Danville
Changes in Net Position (Continued)
Last Ten Fiscal Years
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General Revenues and Other
Changes in Net Position
Governmental Activities
Taxes
Property taxes 12,716,297$ 13,593,483$ 14,153,561$ 13,978,818$ 14,629,253$
Sales taxes 3,947,577 4,098,412 4,569,470 5,546,298 5,914,835
Motor Vehicle taxes 18,486 17,857 17,629 19,203 22,821
Franchise Taxes 2,155,691 2,215,165 2,299,491 2,419,118 2,588,989
Other taxes 385,044 391,856 404,744 371,237 362,196
Investment earnings 900,451 636,474 1,265,876 296,610 368,995
Miscellaneous 1,514,199 1,559,647 741,674 1,235,646 854,998
Gain (loss) on sale of capital assets - - - - -
Transfers from Successor Agency 790,542 769,972 780,818 772,316 792,316
Special item - - 3,195,604 - -
Total governmental activities 22,428,287$ 23,282,866$ 27,428,867$ 24,639,246$ 25,534,403$
Total primary government 22,428,287$ 23,282,866$ 27,428,867$ 24,639,246$ 25,534,403$
Change in Net Position
Governmental activities (4,214,558)$ 3,076,237$ 4,732,437$ 1,942,816$ (7,796,128)$
Total primary government (4,214,558)$ 3,076,237$ 4,732,437$ 1,942,816$ (7,796,128)$
Note:
The Town of Danville does not have any business-type activities.
(Accrual Basis of Accounting)
Fiscal Year
Town of Danville
Changes in Net Position (Continued)
Last Ten Fiscal Years
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General Revenues and Other
Changes in Net Position
Governmental Activities
Taxes
Property taxes 15,354,728$ 16,025,356$ 17,210,607$ 18,033,848$ 18,937,827$
Sales taxes 6,126,449 5,753,805 6,653,905 7,443,450 7,467,848
Motor Vehicle taxes 21,310 35,829 32,180 50,723 44,757
Franchise Taxes 2,609,820 2,836,124 3,044,834 3,252,012 3,383,163
Other Taxes 390,562 367,376 338,449 340,497 341,405
Investment earnings 3,028,554 3,183,434 174,503 (2,626,475) 998,731
Miscellaneous 834,318 1,838,208 1,447,189 563,904 2,501,924
Gain (loss) on sale of capital assets - 345,523 (1,568) - -
Transfers from Successor Agency 792,456 812,456 789,051 785,175 825,175
Special item - - - - -
Total governmental activities 29,158,197$ 31,198,111$ 29,689,150$ 27,843,134$ 34,500,830$
Total primary government 29,158,197$ 31,198,111$ 29,689,150$ 27,843,134$ 34,500,830$
Change in Net Position
Governmental activities 4,195,621$ 7,702,840$ 9,240,708$ 6,545,826$ 11,496,010$
Total primary government 4,195,621$ 7,702,840$ 9,240,708$ 6,545,826$ 11,496,010$
Note:
The Town of Danville does not have any business-type activities.
Fiscal Year
Town of Danville
Changes in Net Position (Continued)
Last Ten Fiscal Years
(Accrual Basis of Accounting)
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General Fund
Nonspendable -$ -$ 10,427,986$ 9,427,986$ 8,427,986$
Restricted 809,635 809,718 809,504 809,820 813,965
Committed 17,118,585 17,067,689 18,374,622 17,249,253 17,868,716
Assigned 9,482,365 9,397,184 344,844 313,036 169,060
Unassigned - - - - -
Total General Fund 27,410,585 27,274,591 29,956,956 27,800,095 27,279,727
All Other Governmental Funds
Special revenue funds
Restricted 28,492,880 24,215,659 26,129,555 23,594,077 22,970,768
Assigned - - - - -
Debt service fund
Restricted 811,448 813,511 - - -
Capital projects funds
Restricted 356,953 356,953 - - -
Committed 42,268,737 39,887,688 38,430,064 42,743,649 36,532,398
Assigned - 2,183,781 2,364,889 2,507,297 2,574,079
Total all other Governmental Funds 71,930,018 67,457,592 66,924,508 68,845,023 62,077,245
Total Governmental Funds 99,340,603$ 94,732,183$ 96,881,464$ 96,645,118$ 89,356,972$
Note: Information presented according to GASB 54 which was implemented in 2010
(Modified Accrual Basis of Accounting)
Fiscal Year
Town of Danville
Fund Balances of Governmental Funds
Last Ten Fiscal Years
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General Fund
Nonspendable 7,325,019$ 5,167,108$ 4,064,888$ 2,976,418$ 1,915,461$
Restricted 820,547 815,484 809,518 809,649 827,765
Committed 19,005,310 20,401,468 28,158,818 22,299,041 24,829,286
Assigned 117,735 190,888 402,500 491,770 268,150
Unassigned - - 1,100,000 1,100,002 1,100,000
Total General Fund 27,268,611 26,574,948 34,535,724 27,676,880 28,940,662
All Other Governmental Funds
Special revenue funds
Restricted 23,577,945 26,145,688 28,628,893 30,841,349 34,859,241
Assigned 2,469,321 2,617,844 2,845,856 2,621,578 3,019,810
Debt service fund
Restricted - - - - -
Capital projects funds
Restricted - - - - -
Committed 37,060,728 34,072,908 30,013,137 35,607,373 36,955,042
Assigned - - - - -
Total all other Governmental Funds 63,107,994 62,836,440 61,487,886 69,070,300 74,834,093
Total Governmental Funds 90,376,605$ 89,411,388$ 96,023,610$ 96,747,180$ 103,774,755$
Note: Information presented according to GASB 54 which was implemented in 2010
(Modified Accrual Basis of Accounting)
Fiscal Year
Town of Danville
Fund Balances of Governmental Funds (Continued)
Last Ten Fiscal Years
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REVENUES:
Property taxes 12,716,297$ 13,593,483$ 14,153,561$ 13,978,818$ 14,629,253$
Sales taxes 3,943,899 4,080,378 4,558,712 5,535,422 5,910,069
Special assessments 3,999,378 4,033,766 3,270,354 3,264,713 3,645,895
Gas & other taxes 3,579,918 3,574,570 3,590,353 3,554,065 3,775,380
Charges for services 2,455,673 2,792,321 2,752,180 2,859,100 2,874,896
Licenses and permits 385,033 391,856 404,744 371,237 362,196
Development fees 2,926,192 3,166,893 3,705,128 3,096,371 3,275,723
Intergovernmental 181,003 547,347 1,026,474 1,918,820 1,735,441
Fines and forfeitures 248,965 242,325 267,732 163,825 167,822
Uses of money and property 1,507,294 1,379,939 2,024,361 995,448 1,054,042
Miscellaneous 1,060,380 1,589,780 1,155,013 897,019 279,040
Reimbursement from Successor Agency - - - - -
Total Revenues 33,004,032 35,392,658 36,908,612 36,634,838 37,709,757
EXPENDITURES:
Current:
General government 1,708,465 1,526,324 1,591,047 1,622,521 1,830,739
Police services 6,980,859 8,356,060 8,691,261 8,881,254 9,426,989
Maintenance services 2,547,337 3,728,641 4,381,322 3,686,266 3,339,317
Lighting and landscape 3,043,620 3,105,346 3,127,403 3,374,354 3,644,177
Development services 6,920,225 14,097,237 4,986,759 8,186,500 11,741,330
Administrative services 2,207,468 3,362,284 4,000,431 3,536,546 3,472,727
Recreation, arts & community services 3,593,125 3,523,333 3,467,371 3,693,259 3,697,618
Capital outlay 2,382,338 5,102,019 6,466,296 2,102,572 8,692,182
Debt service:
Principal - - - - -
Interest and fiscal charges - - - - -
Total Expenditures 29,383,437 42,801,244 36,711,890 35,083,272 45,845,079
REVENUES OVER (UNDER)
EXPENDITURES 3,620,595 (7,408,586) 196,722 1,551,566 (8,135,322)
OTHER FINANCING SOURCES (USES):
Proceeds from sale of assets - - - - -
Proceeds from debt issuance - - - - -
Transfers in 6,248,451 6,300,714 8,710,450 9,937,410 7,276,333
Transfers out (6,248,451) (6,300,714) (8,710,450) (9,937,410) (7,276,333)
Total other financing sources (uses)- - - - -
Extraordinary/Special item*- - 3,195,604 - -
NET CHANGE IN FUND BALANCES 3,620,595$ (7,408,586)$ 3,392,326$ 1,551,566$ (8,135,322)$
Debt service as a percentage of noncapital
expenditures 0.00%0.00%0.00%0.00%0.00%
Modified Accrual Basis of Accounting)
Fiscal Year
Town of Danville
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
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2019 2020 2021 2022 2023
REVENUES:
Property taxes 15,354,728$ 16,025,356$ 17,210,607$ 18,033,848$ 18,937,827$
Sales taxes 6,124,320 5,740,046 6,652,729 7,442,726 7,467,848
Special assessments 3,581,582 3,594,673 3,611,436 3,610,222 3,601,630
Gas & other taxes 4,310,196 4,722,089 4,828,113 5,223,367 5,487,702
Charges for services 2,867,332 2,021,562 1,495,953 2,682,710 3,136,401
Licenses and permits 396,710 367,376 338,449 340,497 347,072
Development fees 4,286,391 2,471,063 2,941,817 2,571,419 3,243,440
Intergovernmental 2,853,143 1,208,170 1,659,443 2,980,425 5,233,454
Fines and forfeitures 187,979 128,312 86,104 76,848 105,729
Uses of money and property 3,924,193 4,265,728 1,771,567 (2,007,851) 1,897,626
Miscellaneous 424,954 944,642 587,430 731,381 1,238,293
Reimbursement from Successor Agency - 812,456 789,051 785,175 825,175
Total Revenues 44,311,528 42,301,473 41,972,699 42,470,767 51,522,197
EXPENDITURES:
Current:
General government 1,624,096 1,922,014 1,732,686 2,764,179 2,983,036
Police services 9,690,883 9,658,510 9,065,799 9,909,768 10,437,966
Maintenance services 3,305,068 4,411,816 3,816,120 3,537,339 6,821,100
Lighting and landscape 4,067,377 3,703,613 3,903,054 4,181,235 3,913,128
Development services 12,346,910 5,549,402 6,065,680 6,671,315 6,692,216
Administrative services 3,555,297 3,777,435 3,606,353 3,503,165 3,678,558
Recreation, arts & community services 3,920,497 3,508,153 2,470,377 2,866,846 3,831,445
Capital outlay 4,781,767 13,198,230 3,911,357 7,542,018 6,094,256
Debt service:
Principal - 480,000 500,000 520,000 615,307
Interest and fiscal charges - 332,456 289,051 265,175 243,866
Total Expenditures 43,291,895 46,541,629 35,360,477 41,761,040 45,310,878
REVENUES OVER (UNDER)
EXPENDITURES 1,019,633 (4,240,156) 6,612,222 709,727 6,211,319
OTHER FINANCING SOURCES (USES):
Proceeds from sale of assets - 3,274,939 - 13,843 600,000
Proceeds from debt issuance - - - - 216,256
Transfers in 8,765,719 11,932,028 3,797,793 13,967,014 8,126,594
Transfers out (8,765,719) (11,932,028) (3,797,793) (13,967,014) (8,126,594)
Total other financing sources (uses)- 3,274,939 - 13,843 816,256
Extraordinary/Special item*- - - - -
NET CHANGE IN FUND BALANCES 1,019,633$ (965,217)$ 6,612,222$ 723,570$ 7,027,575$
Debt service as a percentage of noncapital
expenditures 0.00%2.50%2.57%2.27%2.24%
(Modified Accrual Basis of Accounting)
Fiscal Year
Town of Danville
Changes in Fund Balances of Governmental Funds (Continued)
Last Ten Fiscal Years
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REVENUE CAPACITY
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Community
Development
Agency Tax Property Motor Business
Fiscal Property Sales Increment Franchise Transfer Vehicle License &
Year Tax (1) Tax (2)Tax Tax Tax Other Taxes Total
2014 12,221,986$ 3,947,577$ -$ 2,155,691$ 494,311$ 18,486$ 385,044$ 18,634,531$
2015 13,076,172 4,098,412 - 2,215,165 517,311 17,857 391,856 19,223,095
2016 12,534,667 4,569,470 - 2,299,491 568,870 17,629 404,744 20,316,773
2017 13,392,392 5,546,298 - 2,419,118 586,426 19,203 371,237 20,394,871
2018 13,980,610 5,914,835 - 2,588,989 648,643 22,821 362,196 22,334,674
2019 14,740,670 6,126,449 - 2,609,820 614,058 21,310 390,562 24,502,869
2020 16,360,607 5,753,805 - 2,836,124 850,000 35,829 367,376 26,203,741
2021 17,210,607 6,653,905 - 3,044,834 850,000 32,180 338,449 28,103,216
2022 17,020,160 7,443,450 - 3,252,012 1,013,688 50,723 340,497 29,120,530
2023 18,421,172 7,467,848 - 3,383,163 516,655 44,757 341,405 30,175,000
Note:
1. The State shifted revenues from motor vehicle fees/tax and sales tax to property tax beginning 2005.
2. The former Community Development Agency was dissolved by AB x1 26 on January 31, 2012.
Town of Danville
Governmental Activities Tax Revenues By Source
Last Ten Fiscal Years
(Accrual Basis of Accounting)
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Fiscal
Year Less: Total Taxable Total
Ended Tax Exempt Assessed Direct
June 30 Secured Unsecured Secured Unsecured Property Value Rate
2014 9,812,406,625$ 52,547,546$ 2,315,399$ 39,737,234$ 171,279,730$ 9,735,727,074$ 0.07827%
2015 10,526,929,712 44,289,615 2,298,728 45,995,923 169,288,561 10,450,225,417 0.07752%
2016 11,231,575,805 49,320,732 3,732,903 42,680,915 170,375,283 11,156,935,072 0.07758%
2017 11,904,105,603 47,645,411 3,290,428 43,296,151 172,930,520 11,825,407,073 0.07763%
2018 12,497,304,292 48,065,757 3,371,837 45,354,774 176,396,870 12,417,699,790 0.07767%
2019 13,131,043,886 53,546,262 5,685,542 48,122,854 184,522,193 13,053,876,351 0.07769%
2020 13,815,833,911 53,545,615 5,301,255 49,668,729 176,668,847 13,747,680,663 0.07772%
2021 15,100,093,985 50,900,862 5,470,622 51,204,460 188,744,738 15,018,925,191 0.07774%
2022 16,250,530,439 63,082,569 5,281,835 48,291,089 190,505,017 16,176,680,915 0.07775%
2023 17,203,527,256 64,829,758 5,293,380 49,385,188 177,631,946 17,145,403,636 0.07777%
Note:
In 1978 the voters of the State of California passed Proposition 13 which limited basic property taxes to a total maximum rate of
1% based upon the assessed value of the property being taxed. Each year the assessed value of property may be increased by an
"inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only reassessed at the time that it is
sold to a new owner. At those times, the new assessed value is the purchase price. The estimated market value of taxable
property is not available.
Town of Danville
Assessed Value
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
Assessed Value
Real Property Personal Property
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Total
San Ramon Bay Area Direct &
Fiscal County Valley Unified Rapid Transit Overlapping
Year Danville
Wide 1 School District (BART) Miscellaneous Rate
2014 0.07827% 1.00% 0.0696% 0.0075% 0.0138% 0.07827%
2015 0.07752%1.00% 0.0651% 0.0045% 0.0121% 0.07752%
2016 0.07758%1.00% 0.0624% 0.0026% 0.0125% 0.07758%
2017 0.07763%1.00% 0.0652% 0.0080% 0.0152% 0.07763%
2018 0.07767%1.00% 0.0552% 0.0084% 0.0135% 0.07767%
2019 0.07769%1.00% 0.0750% 0.0070% 0.0131% 0.07769%
2020 0.07720%1.00% 0.0750% 0.1200% 0.0282% 0.07720%
2021 0.07774%1.00% 0.0750% 0.1390% 0.0175% 0.07774%
2022 0.07767%1.00% 0.0750% 0.0060% 0.0196% 0.07767%
2023 0.07777%1.00% 0.0657% 0.0140% 0.0220% 0.07767%
Note:
1 Countywide rate of 1% is levied with the proceeds distributed to all taxing agencies according to formulas specified by State legislature.
2 Individual agencies' rates are for payments of voter approved indebtedness.
Town of Danville
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(Rate Expressed in Percentage)
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Fiscal Total Tax
Year Levied and Delinquent
Ended Collected for Percentage Tax Collected Percentage
June 30 Fiscal Year of Levy Collections Amount of Levy
2014 13,190,148$ 100% n/a 13,190,148$ 100%
2015 14,171,661 100% n/a 14,171,661 100%
2016 14,736,156 100% n/a 14,736,156 100%
2017 14,430,722 100% n/a 14,430,722 100%
2018 14,629,254 100% n/a 14,629,254 100%
2019 15,928,730 100% n/a 15,928,730 100%
2020 16,678,857 100% n/a 16,678,857 100%
2021 17,330,169 100% n/a 17,330,169 100%
2022 18,204,149 100% n/a 18,204,149 100%
2023 19,616,343 100% n/a 19,616,343 100%
Note:
1. The data in this table includes basic and supplemental city property taxes, Redevelopment Agency tax
increments, ERAF refunds, property tax in-lieu of motor vehicle license fees and the sales tax triple flip.
2. Contra Costa County assesses, bills, collects and distributes property taxes to all taxing entities including the Town.
Under a State law, known as the Teeter Plan, the County remits the entire amount levied to the Town. The County
handles all delinquencies and retains all interest and penalties.
Source: County of Contra Costa
Last Ten Fiscal Years
Collected Within the
Fiscal Year of the Levy Total Collections To Date
Property Tax Levies and Collections
Town of Danville
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Taxable Percentage of Taxable Percentage of
Assessed Total Taxable Assessed Total Taxable
Employer Value Rank Assessed Value Value Rank Assessed Value
MM Danville Apartments, LLC 101,149,849$ 1 0.63%
Danville Livery & Mercantile 53,559,508 2 0.33% 23,522,878$ 3 0.24%
Reg8 Tassajara Crossing, LLC 42,664,545 3 0.26% 36,558,737 1 0.38%
Danville Park Apartments LLC 42,500,000 4 0.26% 17,679,967 6 0.18%
ROIC California, LLC 37,500,000 5 0.23%
Davidon Homes 36,515,099 6 0.23%
Costco Wholesale Corporation 30,806,319 7 0.19% 23,215,641 2 0.24%
Rose Garden Associates Danville, LLC 29,461,722 8 0.18% 20,250,000 4 0.21%
Carl A and Jan A Cox Trust 18,480,322 9 0.11%
Rassier Properties Danville Medical Ctr. 17,686,171 10 0.11% 14,077,755 9 0.14%
Alamo Group Iron Horse LLC 19,981,000 5 0.21%
KB Home Sout Bay, Inc 15,874,472 7 0.16%
Montair Associates, LLC 14,907,234 8 0.15%
Diablo Lodge 13,007,919 10 0.14%
Totals 410,323,535$ 2.53% 199,075,603$ 2.05%
Note:
The amounts shown above include assessed value data for both the Town and the Successor Agency.
Because of the many ways a business or individual can hold title, the above list is an approximation of the top taxpayers within
the Town of Danville.
Source: HdL
Town of Danville
Principal Property Taxpayers
Current Year and Nine Fiscal Years Ago
2023 2014
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DEBT CAPACITY
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Certificate Total Percentage
Fiscal of Subscription Primary of Personal Per
Year Participation1 Liabilities2 Government Income Capita
2014 8,860,000$ -8,860,000$ **205.35$
2015 8,860,000 -8,860,000 **202.79
2016 8,055,000 -8,055,000 **187.92
2017 7,635,000 -7,635,000 **178.12
2018 7,195,000 -7,195,000 **167.85
2019 6,735,000 -6,735,000 **148.77
2020 6,255,000 -6,255,000 **140.16
2021 5,755,000 -5,755,000 **131.08
2022 5,235,000 -5,235,000 **119.23
2023 4,690,000 145,949 4,835,949 **110.35
Note:
1. COP is paid with property tax increment of the Property Tax Trust Fund.
2. Subscription liabilities came about from implementation of GASB 96 in 2023.
Town of Danville
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental Activities
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General Tax Less: Amount
Fiscal Obligation Allocation Available in
Year Bonds Bonds Debt Service Fund Total (net)
2014 -$ -$ -$ -$
2015 - - - -
2016 - - - -
2017 - - - -
2018 - - - -
2019 - - - -
2020 - - - -
2021 - - - -
2022 - - - -
2023 - - - -
Note: The Town of Danville does not have any General Bonded debt.
Town of Danville
Ratios of General Bonded Debt Outstanding
Outstanding General Bonded Debt
Last Ten Fiscal Years
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2021-2022 Assessed Valuation:16,240,782,715$
Redevelopment Incremental Valuation 557,378,782$
Adjusted Assessed Valuation:
Total Debt Town's Share of
OVERLAPPING TAX AND ASSESSMENT DEBT:6/30/2023 % Applicable (1)Debt (6/30/2023)
Bay Area Rapid Transit District 2,484,285,000$ 1.705% 42,357,059$
Contra Costa Community College District 649,015,000 6.458% 41,913,389
San Ramon Valley Unified School District 383,235,000 27.067% 103,730,217
East Bay Regional Park District 175,955,000 2.699% 4,749,025
SUBTOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 192,749,690$
DIRECT AND OVERLAPPING GENERAL FUND DEBT:
Contra Costa County General Fund Obligations 193,515,000$ 6.437% 12,456,561$
San Ramon Valley Unified School District General Fund Obligations 15,667,512 27.067% 4,240,725
San Ramon Valley Fire Protection District - COP 46,233,247 27.215% 12,582,378
Town of Danville Certificates of Participation (COP) 4,690,000 100% 4,690,000
SUBTOTAL DIRECT AND OVERLAPPING GENERAL FUND DEBT 33,969,664$
Less: Contra Costa County obligations supported from revenue funds (3,278,323)
TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT 30,691,341$
OVERLAPPING TAX INCREMENT DEBT (Successor Agency) 1,700,000$ 100% 1,700,000
TOTAL DIRECT DEBT 4,690,000
TOTAL GROSS OVERLAPPING DEBT 223,729,354$
TOTAL NET OVERLAPPPING DEBT 220,451,031
GRAND TOTAL DIRECT AND OVERLAPPING DEBT (2) 228,419,354$
NET COMBINED TOTAL DEBT 225,141,031$
(1)
(2)
Ratios to 2022/2023 Assessed Valuation:
Total Overlapping Tax and Assessment Debt 1.19%
Total Direct Debt ($5,235,000)0.03%
Gross Combined Total Debt 1.41%
Net Combined Total Debt 1.39%
Ratios to Redevelopment Successor Agency Incremental Valuation ($557,378,782):
Total Overlapping Tax Increment Debt 0.30%
Source: HDL Coren & Cone
Note: This schedule presents fiscal capacity and debt for overlapping governments. It is intended to demonstrate the total property tax burden on
the taxpayers within Danville and the total debt that their property taxes will be expected to pay. This schedule excludes tax and revenue
anticipation notes, revenue bonds, mortgage revenue bonds, tax allocation bonds, obligations, lease and subscription obligations.
Town of Danville
Direct and Overlapping Governmental Activities Debt
Current Year
The percentage of overlapping debt applicable to the Town is estimated using taxable assessed property value. Applicable percentages were
estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the Town divided by the
district's total taxable assessed value.
Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue, and non-bonded lease and subscription obligations.
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2014 2015 2016 2017 2018
Debt Limit 365,089,765$ 391,883,453$ 418,385,065$ 443,452,765$ 465,663,742$
Total net debt
applicable to limit - - - - -
Legal debt margin 365,089,765$ 391,883,453$ 418,385,065$ 443,452,765$ 465,663,742$
Total net debt applicable to the
limit as a percentage of debt limit 0.00% 0.00% 0.00% 0.00% 0.00%
Note: The Government Code of the State of California provides for a legal debt limit of 3.75% of gross assessed valuation.
Source: County of Contra Costa
Town of Danville
Legal Debt Margin Information
Last Ten Fiscal Years
Fiscal Year
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2019 2020 2021 2022 2023
Debt Limit 489,520,363$ 515,538,025$ 563,209,695$ 606,625,534$ 645,952,636$
Total net debt
applicable to limit - - - - -
Legal debt margin 489,520,363$ 515,538,025$ 515,538,025$ 606,625,534$ 645,952,636$
Total net debt applicable to the
limit as a percentage of debt limit 0.00% 0.00% 0.00% 0.00% 0.00%
Assessed Value 17,145,403,636$
Add back: exempt real property 177,631,946
Total assessed value 17,323,035,582$
Debt Limit (3.75% of assessed value) 642,952,636$
Total net debt applicable to limit -
Legal Debt Margin 642,952,636$
Note: The Government Code of the State of California provides for a legal debt limit of 3.75% of gross assessed valuation.
Source: County of Contra Costa
Legal Debt Margin Calculation for Fiscal Year 2023
Town of Danville
Legal Debt Margin Information (Continued)
Last Ten Fiscal Years
Fiscal Year
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Fiscal Tax Tax
Year Increment Principal Interest
Coverage1 Increment Principal Interest Coverage
2014 -$ 370,000$ 420,541$ - -$ 95,000$ 263,889$ -
2015 - 395,000 404,973 - - 105,000 255,739 -
2016 - 410,000 388,256 - - 120,000 246,570 -
2017 - 420,000 370,819 - - 130,000 236,383 -
2018 - 440,000 352,316 - - 140,000 225,380 -
2019 - 460,000 332,456 - - 155,000 213,359 -
2020 - 480,000 311,356 - - 165,000 200,289 -
2021 - 500,000 289,051 - - 180,000 186,261 -
2022 - 520,000 265,176 - - 195,000 170,638 -
2023 - 545,000 243,866 - - 210,000 153,425 -
Note:
1. Fund balance used to cover debt service
Debt Service Debt Service
Town of Danville
Pledged-Revenue Coverage
Last Ten Fiscal Years
Certificates of Participation Taxable Revenue Bond
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DEMOGRAPHIC AND ECONOMIC INFORMATION
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Median Persons per Per Personal Public
Household Household Capita Income School Unemployment
Year Population 1 Income Unit 2 Income (in thousands)Enrollment 3 Rate 4
2014 43,146 **2.77 **** 31,398 3.3%
2015 43,691 140,809 2.79 **** 31,954 4.1%
2016 42,865 **2.97 **** 32,255 3.9%
2017 43,355 ******** 32,425 3.5%
2018 44,396 ******** 32,504 2.9%
2019 45,270 ******** 32,138 2.7%
2020 44,626 ******** 31,911 10.0%
2021 43,906 ******** 30,726 4.7%
2022 43,352 ******** 30,068 6.5%
2023 42,823 ******** 29,680 4.2%
Note:
Per Capita Income and Personal Income is for County of Contra Costa since reliable Town specific data is not available.
Sources:
1. California State Department of Finance
2. U.S. Department of Commerce Census, Bureau American Community Surveys
3. California Department of Education (Schools within the San Ramon Valley Unified School District)
4. California State Employment Development Department
**Figures not available
Town of Danville
Demographic and Economic Statistics
Last Ten Fiscal Years
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Number of % of Number of % of
Employer Employees 1 Rank Top 10
Employees 1 Rank Top 10
Costco 437 1 43.9%420 1 38.1%
Common Interest Management Services 106 2 10.6%109 3 9.9%
Lunardi's Market 82 3 8.2%64 6 5.8%
Trader Joe's 77 4 7.7%79 5 7.2%
Sunrise Assisted Living of Danville 58 5 5.8%51 8 4.6%
Danville Nursing & Rehabilitation Center 51 6 5.1%51 9 4.6%
Brookdale Danville Diablo Road 50 7 5.0%50 10 4.5%
Lucky 49 8 4.9%
Piatti Restaurant 43 9 4.3%
Safeway 43 10 4.3%
Keller Williams Realty 143 2 13.0%
Crow Canyon Management Corp.80 4 7.3%
Marshalls of Danville 55 7 5.0%
Total Employees: 996 1,102
Note:
1. Data complied from Town of Danville Business License Division.
Town of Danville
Principal Employers in the Town of Danville
Current Year and Previous Year
2023 2022
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OPERATING INFORMATION
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Function 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Legislative 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Administration 4.00 6.75 6.50 8.25 8.25 7.75 7.75 6.75 6.75 6.25
Legal 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Police Services* 34.00 36.75 37.75 37.75 37.75 37.75 37.75 37.75 37.75 37.75
Development Services 25.50 25.50 29.75 27.00 27.00 26.50 25.50 23.50 23.50 23.50
Transportation Services 4.25 4.25 3.25 3.75 3.25 3.00 3.00 3.00 3.00 3.00
Community Services
Maintenance 24.00 29.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00
Recreation, Arts &
Community Services 15.25 37.75 37.75 38.25 38.25 42.00 42.00 42.00 42.00 42.00
Finance 5.50 5.25 5.25 5.25 5.25 5.00 5.00 5.00 5.00 5.00
Support Services 3.00 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 6.00
Community Events** 0.25 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50
Human Resources 2.00 2.00 2.50 2.50 2.50 2.25 2.25 2.00 2.00 2.00
Total 119.75 119.75 154.25 160.75 160.75 160.25 161.25 158.00 158.00 159.00
Source: Adopted Town Budgets
* includes 30 County contract sworn officers in FY 2016/17
FY 2014-15: Legislative, Administration and Legal were combined with General Government
**Community Services and Special Events were combined with Recreation, Arts & Community Services
Town of Danville
Full-Time Equivalent Town Government Employees by Function
Last Ten Fiscal Years
Fiscal Year
148
FINAL
DRAF
T
11.6.2
0
2
3
_
v
2
Function 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Police:1
Arrests 574 618 515 500 447 391 281 165 229 250
Traffic violations 6,001 5,345 3,875 2,605 3,702 2,786 2,482 1,177 959 3,093
Parking violations 2,373 1,619 1,625 1,774 1,367 1,593 1,346 482 868 1,380
Public works:
Street resurfacing (miles) 18.7 14.2 24 15.2 5.9 5.5 10.23 0 6.2 6.4
Pot holes repaired 160 111 181 249 84 309 149 163 84 547
Parks and recreation:
Course registration 22,191 17,176 18,147 20,352 19,174 18,146 13,593 4,592 12,912 15,763
Facility rentals/permits 2 13,894 816 716 804 786 638 538 8 97 172
Picnic rentals 535 460 241 413 406 354 205 130 545 590
Note:
1. Police Statistics are reported end of calendar year
2. Facility rentals were previously tracked by the number of bookings, which may have included multiple bookings on one rental permit.
As a result of the implementation of Active Network, a new registration software, rentals are now tracked only by rental permit.
Source: Various Town departments
Town of Danville
Operating Indicators by Function
Last Ten Fiscal Years
Fiscal Year
149
FINAL
DRAF
T
11.6.2
0
2
3
_
v
2
Function 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Police:
Stations 1111111111
Patrol units 12 13 12 13 13 13 13 13 13 13
Public works:
Street (miles) 144.6 144.6 144.6 144.6 144.6 157.89 158.15 158.15 158.28 158.49
Street lights 1,417 1,417 1,417 1,417 1,158 1,158 1,158 1,158 1,158 1,158
Signalized intersections 51 52 51 52 54 54 54 54 54 54
Parks and recreation:
Parks acreage 312.5 312.5 312.5 312.5 312.5 312.5 312.5 312.5 312.5 312.5
Parks 5555555555
Swimming pools 0000000000
Tennis courts 10 10 10 10 10 10 10 10 9 9
Pickleball courts 0000000222
Community centers 3333333333
Source: Various Town departments
Town of Danville
Capital Asset Statistics by Function
Last Ten Fiscal Years
Fiscal Year
150
FINAL
DRAF
T
11.6.2
0
2
3
_
v
2