HomeMy WebLinkAbout120925-03.3 PACKET STUDY STUDY SESSION MEMORANDUM 3.3
TO: Mayor and Town Council December 9, 2025
SUBJECT: Fiscal Year 2024/25 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 2024/25 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 2024/25 Audited ACFR 2 December 9, 2025
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, the Regional Traffic Impact Fees Special Revenue
Fund and the American Rescue Plan Act 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 $3,038,278 (year over year
2023/24 to 2024/25). Revenues exceeded expenditures by $13,139,499 with net operating
transfers to other funds of $10,100,221.
Actual revenues exceeded final budgeted revenues by $7,782,430. General Fund
expenditures were below budget by $3,573,675 with cost savings in most departments.
These savings were largely attributable to the timing of filling for several vacancies
position.
Note 11 of the Notes to Basic Financial Statements details the reserves and designations
against the June 30, 2025 Fund Balance. The recommended designated reserves,
described in detail below, and require approval and appropriation by the 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 2024/25 ACFR.
Contingency Fund
The recommended transfer of $500,000 to the Contingency Fund will ensure that
FY 2024/25 Audited ACFR 3 December 9, 2025
adequate funds are set aside to meet unanticipated expenses that occur during the course
of a fiscal year.
500 La Gonda
The recommended transfer of $1,250,000 will assist with the cost of replacing the roof for
500 La Gonda Way.
The recommended transfer of $1,700,000 will complete funding for phase two of the
parking lot expansion and the cost of solar relocation for 500 La Gonda Way.
Asset Replacement
The recommended transfer of $1,000,000 to the Asset Replacement Fund will assist with
the replacement of obsolete capital assets including vehicles, equipment, furnishings, and
technology.
Capital Improvement Projects Fund
The recommended transfer of $4,772,589 to the Capital Improvement Projects Fund will
assist with the funding of future projects as determined by the Town Council.
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) $17,995,095 for Operating Reserves;
2) $ 659,401 as a non-spendable receivable from the former CDA for the
Cooperative Agreement Loan;
3) $ 2,215,232 for Compensated Absences;
4) $ 881,348 for the Reserve for Debt Service;
5) $ 510,470 for the Contingency Fund;
6) $ 1,030,530 for encumbrances and carryover expenditures;
7) $ 1,816,413 for future use of the rental proceeds from the property at 500 La
Gonda Way;
8) $ 10,000 for the Reward Fund
FY 2024/25 Audited ACFR 4 December 9, 2025
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 2024/25 fiscal year will have
been designated for specific purposes.
Prepared by:
Lani Ha
Finance Director/Treasurer
Reviewed by:
Tai J. Williams
Town Manager
Attachment: A - General Fund Balance Analysis as of June 30, 2025
TOWN OF DANVILLE
GENERAL FUND BALANCE ANALYSIS
AS OF JUNE 30, 2025
June 30, 2025 June 30, 2024
TOTAL PRE-AUDIT FUND BALANCE AT 6/30/25 39,936,036$ 36,897,760$
Adjust for unrealized market value reported per GASB 31 requirement (4,519,989)$ (3,762,414)$
Adjust for unrealized leased income/loss reported per GASB 86/87 requirement (740,589)$ (605,294)$
FUND BALANCE without UNREALIZED MARKET value 34,675,458$ 32,530,052$
Less Reserves/Designations Against Fund Balance for:
Operating Reserve 17,995,095$ 16,009,768$
Receivable from CDA 659,401$ 1,759,401$
Compensated Absences/Personnel 2,215,232$ 1,465,232$
Reserved for Debt Service 844,850$ 848,843$
Contingency 881,348$ 510,470$
Encumbrances 1,030,530$ 877,166$
Emergency Reserved -$ 1,985,327$
500 La Gonda Way reserved -$ 250,000$
500 La Gonda Way rental 1,816,413$ 1,266,413$
Reward Fund 10,000$ 10,000$
Total Reserves/Designations Against Fund Balance 25,452,869$ 24,982,620$
CURRENT UNRESERVED/UNDESIGNATED FUND BALANCE AT 6/30/25 9,222,589$ 7,547,432$
Less funds recommended to be designated
Compensated Absences -$ 750,000$
Contingency 500,000$ 500,000$
500 La Gonda (Roof Replacement)1,250,000$ 300,000$
500 La Gonda (Parking lot Expansion & Solar Relocation)1,700,000$ -$
Asset Replacement 1,000,000$ 1,000,000$
RECOMMENDED UNRESERVED/UNDESIGNATED FUND BALANCE AT 6/30/25 4,772,589$ 4,997,432$
TOWN OF DANVILLE
FUND BALANCE OPTIONS
June 30, 2025
CIP - General Purpose 4,772,589$ 4,997,432$
Optional Use of Recommended Available Fund Balance at 6/30/25 4,772,589$ 4,997,432$
ATTACHMENT A
Town of Danville, California
Town Council
Reneé Morgan, Mayor • Newell Arnerich, Vice Mayor • Mark Belotz, Councilmember
Karen Stepper, Councilmember • Robert Storer, Councilmember
Town Staff
Tai J. Williams, Town Manager • Lani Ha, Finance Director/Treasurer
for the Fiscal Year ended June 30, 2025
Annual Comprehensive
Financial Report
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TOWN OF DANVILLE, CALIFORNIA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
For the Fiscal Year Ended June 30, 2025
TOWN COUNCIL
Renee Morgan, Mayor
Newell Arnerich, Vice Mayor
Mark Belotz, Councilmember
Karen Stepper, Councilmember
Robert Storer, Councilmember
TOWN MANAGER
Tai J. Williams
Prepared by the
Finance Division
Lani Ha, Finance Director/Treasurer
Danville, CA
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Town of Danville
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Table of Contents
Page
INTRODUCTORY SECTION (Unaudited)
Letter of Transmittal .......................................................................................................................................................... i
Organizational Chart .................................................................................................................................................... xvii
Directory of Public Officials ...................................................................................................................................... xviii
Certificate of Achievement for Excellence in Financial Reporting –
Government Finance Officers Association ................................................................................................................ xix
Statement of Purpose ...................................................................................................................................................... xx
FINANCIAL SECTION
Independent Auditor’s Report on Financial Statements ............................................................................................. 1
Management’s Discussion and Analysis (Required Supplementary Information) (Unaudited) ............................. 5
Basic Financial Statements:
Government-Wide Financial Statements:
Statement of Net Position ........................................................................................................................... 19
Statement of Activities ................................................................................................................................ 20
Fund Financial Statements:
Governmental Fund Financial Statements:
Balance Sheet ............................................................................................................................................. 26
Reconciliation of Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position ............................................................................. 29
Statement of Revenues, Expenditures and Changes in Fund Balances ....................................................... 30
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures and Changes in Fund Balances to Government-Wide
Statement of Activities ......................................................................................................................... 32
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Position ............................................................................................................ 37
Statement of Changes in Fiduciary Net Position ......................................................................................... 38
Index to Notes to the Basic Financial Statements .................................................................................................... 41
Notes to the Basic Financial Statements................................................................................................................... 43
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Town of Danville
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
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, 2025
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
Independent Auditor’s Report on Internal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards ........................................................................ 151
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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
December 16, 2025
Mayor and Town Council
Town of Danville
Subject: Fiscal Year 2024/25 Annual Comprehensive Financial Report
The Annual Comprehensive Financial Report (ACFR) of the Town of Danville for the fiscal
year (FY) ended June 30, 2025, 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 2024/25.
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 42,567 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, 2025, 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, 2025, $16,009,768 or 39.1% 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 $5,722,589 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 $39,936,036 represents 139.56% of total FY 2024/25
General Fund operating expenditures and 96.32% of operating expenditures from all funds.
Additionally, the Town has $35,867,028 of Special Revenue funds, and $38,311,790 in Capital
Projects funds.
The Town’s five largest revenue sources account for 86.54% of all Town revenues. These
include Property Tax providing 35.73% of revenues; Sales Tax providing 11.93%; Other
Taxes and Intergovernmental providing 19.28%; Special Assessments providing 6.25% and
Use of Money and Property providing 13.36% of revenues.
Property Tax increased by $ (4.32%) compared to FY 23-24, 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 decreased by $(96,406) (2.81%), as Building and Planning fees and
Development Engineering fees decreased compared to FY 23-24. Recreation Fees slightly
increased compared to prior year.
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Sales Tax increased by $133,572 (6.23%) as online sales activity and brick and mortar
businesses (restaurant and retail) has slightly increased. Other Taxes and intergovernmental
Fund Revenues increased by a net of $28,603 (.26%), reflecting higher revenues from Gas
Tax. Lower Measure J funds; and SPCP Special Assessments remained the same. LLAD
Special Assessments increased slightly due to new construction added. Use of money and
property increased by $1,082,039 (16.19%) reflecting higher market value of Town’s
investment and slight increase in rental revenues.
Danville’s jobless rate as of August 2025 was 4.7% as compared to 4.3% nationwide, 5.8% in
California, and 5.2% 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 2025/26 Operating
Budget and Capital Improvement Program, was completed in April 2025 and adopted on
June 17, 2025. General Fund revenues are projected to increase 4.10% from FY 2024/25 to
FY 2025/26, largely attributable to a 5.60% increase in Property Tax Revenue, 1.50% increase
in sales tax revenue, 18.30% increase in Franchise Solid Waste and 7.20% increase in
Recreation Fees and Charges. Special Purpose revenues are projected to increase 15.30%,
mostly due to increase of 34.20% in Engineering revenue, 2.50% in Gas Tax revenue, 2.50%
in Measure J revenue, 35.80% in Solid Waste VIF revenue, 45.98% increase in LLAD as the
Town passed the new LLAD assessment in May 2025; and slight to no increases in other
Special Revenues funds.
Looking forward 10 years, General Purpose revenues are projected to increase 4.10% in FY
2025/26 and an average of 1.19% thereafter. Special Purpose revenues are projected to
increase 15.3% in FY 2025/26, and an average of 1.66% through FY 2034/35.
The 10-year projection includes cost increases that average 2.94% 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.
With the formation of the new LLAD 2025-01, which allowed the increase in assessments,
the Lighting and Landscape Assessment District will most likely not require further General
Fund subsidies 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 $659,401 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 2024/25
During FY 2024/25, the Town made substantial progress on key initiatives that will have
lasting effects on community safety, infrastructure, and quality of life:
1. Landscape and Lighting Assessment District (LLAD)
In fall 2024, the Town initiated a feasibility study to consider updates to the Town-wide
LLAD 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. In spring 2025, the Town conducted a Proposition 218 ballot
proceeding, asking Danville property owners to vote on an increase in LLAD
Assessments, the first such increase since 2003. A majority of the weighted ballots
returned supported the assessment increase. This was a significant result which will
increase LLAD revenues by $1.4 million for fiscal year 2025/26.
2. Public Safety
Engage in proactive and ongoing education and outreach efforts aimed at promoting
safety for operators of e-bikes, e-scooters and all e-mobility devices. Specific focus
areas include the school and parent communities. Stepped up enforcement efforts
related to violations.
Engaged in a collaborative initiative with mental health response units A3 (Anyone,
Anywhere, Anytime) and MHET (Mental Health Evaluation Team) to implement
alternative strategies for addressing mental health crises. This effort resulted in a
reduction of involuntary mental health commitments to 72 for the year, a decrease
from the 10-year average of 91.4 commitments.
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Attained an 83% success rate in the juvenile diversion program, with five juveniles
successfully completing the program.
Handled a total of 22,658 service calls, marking an increase from 19,337, primarily
attributed to enhanced proactive community policing initiatives.
Escalated traffic enforcement efforts in response to increased collision rates and
public complaints regarding driving conduct, resulting in an increase in citations
issued from 1,922 to 3,850.
Maintained a case closure rate for violent crimes (Homicide, Rape, Robbery, and
Aggravated Assault) that is more than double the national average.
Major Capital Improvement Program (CIP) Projects
3. Downtown Master Plan Catalyst Project
Completed construction of this downtown safety project which added approximately
11,675 square feet of new public gathering space (8,500 SF at the Village Theatre Plaza,
2,800 SF at Prospect Park Plaza, and 375 SF at E. Linda Mesa Avenue), artistic lighting
elements, 18 new streetlights, three intersections with augmented bulb outs, and
enhanced traffic calming measures at two intersections.
4. Diablo Vista Park Playground Renovation
The Town Council awarded a construction contract for the Diablo Vista Park Playground
Renovation Project. The project will replace the existing play area which is the oldest
among all of the Town’s five community parks. Construction of the project began in May
and will be completed in November 2025.
5. Diablo Road Multi-Purpose Trail Project
As a result of severe 2022/23 winter storms which significantly eroded the creek bank
and altered the adjacent terrain, much of the year was spent updating preliminary
engineering efforts, including re-surveying the creekbank and adjacent roadway, re-
designing the schematic project plans, and updating hydrology studies in response to
State regulatory agencies’ conditions of approval. Updated plans and studies were
submitted to the California Department of Fish and Wildlife and the San Francisco
Regional Water Quality Control Board for final approval and authorization to proceed
with the project.
6. Town Green & Arts District Improvements - Pavilion and Maker Space
Design work was completed for a new and enlarged pavilion at the Town Green, a key
feature of the Town Green and Arts District Master Plan. The pavilion will replace the
existing bandstand with an open air structure designed for community events,
performances and gatherings. Building plans are currently in the building plan review
process. A new Arts District Maker Space (Town Studio) will be constructed adjacent to
the pavilion. Another high-priority project, the Studio is intended to be a flexible space
for recreation programming, arts and culture. The design phase of the project is
complete.
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7. San Ramon Valley Boulevard Improvements Project
Construction began on this project which included slurry sealing and restriping San
Ramon Valley Boulevard between the Town limits and Sycamore Valley Road, and a
new pavement overlay from Sycamore Valley Road to Hartz Avenue. Both segments
now include high visibility bike lane and crosswalk striping treatments and traffic signal
video detection, pedestrian signal upgrades and fiber optic installation.
8. Fiber Optic Cable Interconnect Project
Phase I of this project includes establishing fiber optic connections linking the Town
Offices with six downtown locations including the Town Meeting Hall, Danville
Community Center, Library, Village Theatre, Veterans Memorial Building and the future
Arts District Town Studio. The project also connects 17 traffic signals along the San
Ramon Valley Boulevard/Hartz Avenue Corridor. Construction of this project was
completed September 2025.
Capital Maintenance Projects and Activities
9. Parks and Athletic Facilities
Resurfaced two tennis courts at Osage Station Park.
Resurfaced the basketball court at Diablo Vista Park.
Renovated the turf in the large dog park at Hap Magee Ranch Park, rated the best
dog park in the East Bay by Diablo Magazine.
10. Community Buildings
Completed the Town Meeting Hall audio/visual renovation and replacement project.
11. Infrastructure
Awarded new contracts for roadside landscape maintenance services.
Commenced AB1572 compliance efforts, replacing non-functional grass with less
water-intensive plant material. Initial estimates related to AB1572 compliance were
in the range of $10 million.
Continued to manage street sweeping services contract, covering over 210 miles of
streets, to ensure clean roadways and prevent pollutants from entering the Town’s
34 miles of creeks.
Completed the annual creek cleaning program to reduce flood risks across the
Town’s water system through in-house and contract efforts.
12. Emergency Response and Recovery
Continued to work with the Federal Emergency Management Agency (FEMA) and the
California Office of Emergency Services (Cal OES) to recover up to $4.5 million in public
assistance related to emergency repair and recovery costs attributable to the declared
local emergency associated with the December 31, 2022, winter storms.
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13. Legislative Advocacy
Continued working with Tri-Valley Cities Coalition and state legislators to advocate for
changes to legislation in a manner that benefits Danville. The coalition tracked and
provided input on 23 state bills, 3 federal bills, and 3 state measures.
14. Community Events and Economic Development
Approved 13 Business Promotion Grants totaling $35,000, providing assistance to
over 140 local businesses. Actual reimbursed amount was $24,617.
Launched an in-house holiday marketing campaign, incorporating live performances
at the new Prospect Park Plaza. Outreach resulted in more than 147,000 social media
views and local television news coverage.
Launched monthly email newsletter to businesses, with opportunities for
promotional and educational events.
Highlighted local businesses with the Open in Danville program, featuring six
businesses on social media.
Hosted 10 community events, drawing over 55,000 attendees in total, including the
Kiwanis Danville July 4th Parade (40,000 attendees) and the Lighting of the Old Oak
Tree (10,000 attendees).
Launched the Discover Danville mobile tour app, highlighting historic sites,
restaurants, and retail. The app was viewed more than 8,700 times by more than 1,000
users last fiscal year.
15. Communications
Created marketing materials for 173 programs, events, and projects.
Launched the Not My Kid e-bike education campaign, with safety tips and training
opportunities for families.
Managed successful LLAD outreach and education campaign, resulting in property
owners approving an increased assessment.
Expanded email marketing efforts with arts newsletter and weekly family activities
newsletter. Total email subscribers were to 8,435 with more than 16,000 subscriptions
for FY 24-25.
Town social media account followers at fiscal year-end: 12,358 Instagram, 11,239
Facebook.
16. Housing and Private Development
Reviewed and processed 156 planning applications ranging from variances and land
use permits to subdivisions and development plans.
Processed 2,731 building permits, conducted 2,020 plan checks and 9,282 building
inspections.
Serviced 3,302 walk-in customers at the Town of Danville Permit Center.
Reviewed and processed 510 encroachment permits for private or utility-related
construction activity within the public right-of-way.
Opened and facilitated the resolution of 326 code enforcement cases.
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17. Recreation (check with Jessica)
4,987 households served through 1,657 recreation classes, which had a total of 16,977
participants. Of this total, 9,277 were senior participants.
Provided social connections with 1,261 volunteers for various Town programs
throughout Town.
Facilitated 243 facility rentals, comprised of 493 picnic and 25 bocce court rentals.
18. Technology and Cyber Security
Continued design of the Townwide Fiber Optic Interconnect project, incorporating
and installing conduit within street segments under construction (such as Hartz
Avenue and San Ramon Valley Boulevard).
Implemented new and refined technologies and network infrastructure in the Town
Offices. Improved bandwidth to the various Town sites and the Internet. Updated
audio/video systems at various sites.
Continued to implement additional security measures and monitor cybersecurity
issues to protect the Town from these ongoing types of attacks.
Deployed monthly email phishing tests to all users and provide yearly cyber security
awareness training.
Implemented new PCI compliant payment terminals at Permit Center and Recreation
department for taking secure credit card payments.
19. Transportation and Traffic Safety
Completed design of the Brookside Drive (between Paraiso Drive and Sycamore
Valley Road) Neighborhood Traffic Management Program (NTMP) Project. Category
1 & 2 measures including additional speed limit signs, radar display and pavement
markings will be implemented in November 2025.
Installed bicycle infrastructure including a high-visibility Class II bike lane, bike
legends, sharrows, bike box and video detection during the San Ramon Valley
Boulevard Improvements Project.
Completed design for five Iron Horse Trail Crossings at West Prospect Avenue, West
Linda Mesa Avenue, Love Lane, Del Amigo Road, Hartford Avenue, plus two School
Crossing Safety Improvements at Railroad Avenue/Love Lane and Stone Valley
Road/Monte Sereno Drive. The project is currently under construction and projected
to be complete in Spring 2026.
Completed design for raised crosswalks, high-visibility signage, pavement markings
and drainage improvements along the Iron Horse Trail Crossings at Greenbrook
Drive, Paraiso Drive, and El Capitan Drive. The project will go out to bid in
November 2025.
Speed surveys conducted for all required road segments in Danville. Surveys are
required every 5-years per the California Vehicle Code and the Manual on Uniform
Traffic Control Devices (MUTCD).
Continued to work with regional and subregional agencies such as the Contra Costa
Transportation Authority (CCTA) and Tri-Valley Transportation Council (TVTC) to
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implement regional improvements to intraregional travel and minimize cut-through
traffic in Danville.
20. Public Recognition:
Recognized for the outstanding financial reporting for the Annual Comprehensive
Financial Report from the Government Finance Officers Association for 21
consecutive years.
For Fiscal Year 2025/26
The Town will continue its momentum into FY 2025/26 with the following key projects and
initiatives:
1. Public Safety
Continue to engage in proactive and ongoing education and outreach efforts aimed
at promoting safety for operators of e-bikes, e-scooters and all e-mobility devices.
Specific focus areas include the school and parent communities.
Data-Driven Policing: Employ advanced data analytics to optimize the deployment
of officers' proactive efforts, ensuring that policing strategies are informed and
adjusted based on quality data and analysis.
Expanding Collaborative Programs: Deepen partnerships with mental health
professionals to ensure that police officers are equipped with the latest training in de-
escalation techniques, crisis intervention, and mental health awareness.
Neighborhood Watch Expansion: Encourage and organize more neighborhood
watch groups that actively involve community members in local safety, fostering a
partnership between police and residents.
Mental Health Support System: Establish or enhance a comprehensive mental health
support system for officers, including regular check-ins, access to counseling, and
stress management workshops. This initiative supports not just the officer’s well-
being but also indirectly impacts the quality of community interactions by having
mentally healthy officers on duty.
Major Capital Improvement Program (CIP) Projects
1. Diablo Road Multi-Purpose Trail Project
This project will construct a new, paved, multi-purpose trail connecting the existing
multi-purpose trail (the Barbara Hale trail) which currently terminates at Fairway Drive
with the existing trail/EVA at the Magee Preserve development approximately .8 miles
to the east. A construction contract was awarded in August 2025. The project is projected
to be completed in Winter 2026.
2. Major CIP Project – Diablo Vista Park Playground Renovation Project: Construction
of this project includes installation of play equipment, game tables, a shade structure,
picnic tables and exercise equipment. The project is expected to be completed by
December 1.
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3. Town Green & Arts District Improvements - Pavilion and Maker Space
Design work was completed for a new and enlarged pavilion at the Town Green, a key
feature of the Town Green and Arts District Master Plan. The new pavilion will replace
the existing bandstand at the Town Green with an open air structure designed for
community events, performances and gatherings. A new Arts District Maker Space
(Town Studio) will be constructed adjacent to the pavilion and will provide a flexible
space for recreation programming, arts and culture. Construction of the pavilion and the
studio are expected to begin in Summer 2026.
4. Sycamore Valley Road Improvements Project: This project will repave Sycamore Valley
Road from Camino Ramon to Camino Tassajara. The overall scope of the project includes
dig out repairs and pavement overlay, replacement of green bike lane striping, addition
of a class IIB buffered bicycle lanes and ADA curb ramps. Design of the project is
complete and will be combined with Phase II of the fiber optic project. Both projects will
go out to bid Winter 2026.
5. Pavement Management Project: The 2025/26 Pavement Management Project will
include a slurry seal maintenance treatment. Design has been completed. The project
will go out to bid in March of 2026 with a projected construction start of Summer 2026.
Capital Maintenance Projects and Activities
6. Parks and Athletic Facilities:
Replace the playground at Danville South Park.
Repair and seal the safety surface at the Osage Station Park playground.
7. Public Works Infrastructure
Repaint the exterior of the Veterans Memorial Building.
Continue AB1572 compliance efforts, replacing non-functional grass with less
water-intensive plant material. Initial estimates related to AB1572 compliance were
in the range of $10 million.
Continue to manage street sweeping services contract, covering over 210 miles of
streets, to ensure clean roadways and prevent pollutants from entering the Town’s
34 miles of creeks.
Complete the annual creek cleaning program to reduce flood risks across the
Town’s water system through in-house and contract efforts.
8. Emergency Response and Recovery
Complete and adopt the updated Emergency Operations Plan.
9. Legislative Advocacy: Continue to work with the Tri-Valley Cities Coalition and state
legislators to advocate for changes to legislation in a manner that benefits Danville.
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10. Community Events and Economic Development
Manage an expanded Scarecrow Stroll program, utilizing the walking tour app to
track voting and encourage local shopping.
Launch business workshops series with the Chamber and SCORE.
Secure membership in California Main Street and Main Street America programs.
Revise Business Promotion Grant Program to encourage flexibility for more
businesses and event types.
10. Communications
Launch a seniors-focused email newsletter.
Redesign activity guide for better highlighting of programs and activities.
Develop protocols and update outreach tools for ADA compliance
Revise social media strategy to align with revised algorithm results.
11. Housing and Private Development
The Nova is a 50-unit senior condominium development located on a 1.88-acre site
at 375 West El Pintado Road. The project is currently under construction.
The Orchard is a 43- unit affordable apartment development for low and very low-
income households. The project is currently under construction.
Darby Plaza is a 99-unit four-story senior condominium development located on
3.17-acre site at 425 El Pintado Road. The project is fully entitled.
The Lanes at 200 Boone Court is a 47 unit townhome development with two junior
accessory dwelling units on a 1.62-acre parcel. The project is currently under
planning review.
The Ivy at 828 Diablo Road is a 105-unit senior living and memory care facility on a
2.68-acre parcel by O&I Development. The project is currently undergoing a Phase II
site remediation overseen by a third party.
Evergreen Estates is an 18-unit single family development on 19.5-acre site located at
2570 Camino Tassajara and 45 Sherburne Hills Road, with all 18 residences to include
Accessory Dwelling Units (ADUs). The Draft Environmental Impact Report is
currently under review.
Martin Hills Ranch is 20-unit single family home development on the 100-acre
Elworthy East Property. The Draft Environmental Impact Report is currently under
review.
Danville Village Apartments at 107 Town & Country Drive is a 200-unit, four story
residential apartment building on a 3.89-acre site. The project design is being
modified by the Developer based on Design Review Board comments.
Community Presbyterian Church submitted a development plan for expansion of the
existing church and school to include a new Youth Ministry Building, outdoor
pavilion, expanded church sanctuary, sports fields and parking. The project is
currently under Planning review.
Wood Ranch Event Venue is a small, boutique indoor-outdoor event center on a 17-
acre parcel located at 2900 Camino Tassajara. The project is currently under Planning
Review.
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12. Recreation: Continue to work with the Parks, Recreation and Arts Commission and Arts
Advisory Board toward the implementation and expansion of the strategies and
recommendations of the Plan Update, focusing on the Town Green, Town Studio, Art
Integration (Visual and Performing Arts), Community Outreach, Transportation, Park
Facilities, and Social Vision
13. Technology and Cyber Security
Configure and deploy new hi-definition 4K security cameras at Library, Town Green,
Community Center, and Village Theatre.
Deploy a new solution for handling public LiveScan services in the police
department.
Continue collaborating with Development Services and Transportation on the
Townwide Fiber Optic Interconnect project for Phase 2.
Continue updating desktop computers to the Windows 11 operating system.
Continue to evaluate and implement new security measures and monitor
cybersecurity issues to protect the Town from ongoing attacks.
Continue deploying monthly email phishing tests to all users and provide yearly
cyber security awareness training in October for Cyber Security Awareness month.
8. Transportation and Traffic Safety
Brookside Drive Neighborhood Traffic Management Program (NTMP)
improvements including additional speed limit signs, radar display and pavement
markings will be installed in November 2025.
Construction of five Iron Horse Trail Crossings (at West Prospect Avenue, West
Linda Mesa Avenue, Love Lane, Del Amigo Road, Hartford Avenue, plus two School
Crossing Safety Improvements at Railroad Avenue/Love Lane and Stone Valley
Road/Monte Sereno Drive) are currently under construction and projected to be
complete in Spring 2026.
Iron Horse Trail Improvements at the Greenbrook Drive, Paraiso Drive, and El
Capitan Drive trail crossings will go out to bid in November 2025. Improvements
include raised crosswalks, high-visibility signage, pavement markings and drainage
improvements.
The Town will continue to work with regional and subregional agencies such as the
Contra Costa Transportation Authority (CCTA) and Tri-Valley Transportation
Council (TVTC) to implement regional improvements to intraregional travel and
minimize cut-through traffic in Danville.
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.
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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 2024/25, 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.
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 2023/24, 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 $65,243 in the General Fund to offset a liability and
finance anticipated settlement of claims.
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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, 2025
financial statements was performed by The Pun Group, LLP. Their opinion is included with
the general purpose financial statements.
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,
Tai J. Williams Lani Ha
Town Manager Finance Director/Treasurer
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Town of Danville
Organizational Chart
xvii
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Town of Danville
Directory of Public Officials
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TOWN COUNCIL
Renee Morgan Mayor
Newell Arnerich Vice Mayor
Mark Belotz Councilmember
Karen Stepper Councilmember
Robert Storer Councilmember
TOWN STAFF
Tai J. Williams Town Manager
Robert Ewing City Attorney
Marie Sunseri City Clerk
Dave Casteel Assistant Town Manager/Maintenance Services Director
Thomas Rossberg Chief of Police
Lani Ha Finance Director/Treasurer
Diane Friedmann Development Services Director
Jessica Wallner Recreation, Arts & Community Services Director
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Town of Danville
Certificate of Achievement for Excellence in Financial Reporting –
Government Finance Officers Association
xix
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Town of Danville
Statement of Purpose
xx
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 AUDITOR’S 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, 2025, 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, 2025, 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 Auditor’s 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 audit. 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 – Change in Accounting Principle
As discussed in Note 15 to the financial statements, the Town implemented Governmental Accounting Standards
Board (“GASB”) Statement No. 101, Compensated Absences, effective July 1, 2024. The implementation of this
standard required the Town to change its method of accounting for compensated absences and resulted in a
restatement of beginning net position as of July 1, 2024. 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
Auditor’s 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 auditor’s 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 audit was 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 auditor’s 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 December 16, 2025, 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
December 16, 2025
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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, 2025. 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, 2025 increased $2,026,415 or .68% from $299,493,013 (as previously
reported) to $301,519,428.
Total liabilities were $14,107,700. Total assets were $321,228,733. Of this amount $75,452,723 is classified as
unrestricted and, with the future receipt of $659,401 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 $113,678,682. Of this amount $33,469,679
is restricted by external parties, $75,992,469 is committed for ongoing and future activities and $181,855 and
$441,315, respectively, 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 has not been rendered by the Town, and $561,266 has been assigned for ongoing operations.
The Town's General Fund fund balance increased 8.2% from $36,897,758 to $39,936,036. The fund balance
includes funds reserved or designated for debt service, future capital projects, ongoing operations, and an
operating reserve of $16,009,768 (39.1%) of FY 24/25 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, $659,401 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 for at June 30, 2025 and 2024 was the following:
Increase
2025 2024 (Decrease)
Current and other assets 129,094,585$ 129,997,756$ (903,171)$
Capital assets, net 192,134,148 192,522,026 (387,878)
Total assets 321,228,733 322,519,782 (1,291,049)
Current liabilities 10,398,467 14,891,125 (4,492,658)
Long-term liabilities 3,709,233 4,705,649 (996,416)
Total liabilities 14,107,700 19,596,774 (5,489,074)
Deferred inflows of resources 5,601,605 3,429,995 2,171,610
Net position:
Net investment in capital assets 187,755,279 188,179,513 (424,234)
Restricted for:
Debt service 2,662,484 1,777,459 885,025
Special projects 32,616,844 38,406,783 (5,789,939)
Unrestricted 78,484,821 71,129,258 7,355,563
Total net position 301,519,428$ 299,493,013$ 2,026,415$
Table 1
Net Position
Governmental Activities
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The Town’s Net Positions from Governmental Activities increased .68% from 299,493,013 to $301,519,428. This
increase of $2,026,415 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 decreased $(1,291,049):
Current and other assets decreased $(903,171) reflecting an increase in cash and investments. Capital assets,
net of depreciation, decreased $(387,878) reflecting expenditures for capital projects during the year.
Total liabilities decreased $(5,489,074):
Current liabilities decreased by a net of $(4,492,658), due largely to decrease in accounts payable, wages
payable, retention (for capital projects), and deposit payable.
Non-current liabilities decreased a net of $(996,416) reflecting payment of long-term debt principal of $600,000
that was paid according to schedule, an increase of $111,236 and restatement of $377,348 per GASB 101 in
compensated absences; and a decrease in Subscription liability of $(74,094).
Net Position:
Restricted net position decreased a net of $(4,904,914). Special Revenue funds were spent for capital projects
as budgeted. Debt Service funds increased by $885,025 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 decreased by $2,757,841 as less funds were needed compared to prior year for
operations or appropriated for capital expenditures.
Unrestricted net position, which is designated by Council for specific future capital improvements or economic
stability, increased by $7,355,563, reflecting solid revenues and controlled costs, which enabled the transfer of
$4.23 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. 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 Town as whole.
Table 2
Revenues and Expenses
Governmental Activities
2025 2024 Increase (Decrease)
Revenues - Governmental Activities
Program revenues:
Charges for services $ $10,600,195 $ 10,511,778 $ 88,417
Operating grants and contributions 2,869,273 3,876,515 (1,007,242)
Capital grants and contributions 5,657,909 3,759,810 1,898,099
Total program revenues 19,127,377 18,148,103 979,274
General revenues:
Taxes:
Property 20,765,297 19,905,678 859,619
Sales 6,932,759 6,799,187 133,572
Motor vehicle 68,850 53,934 14,916
Franchise 2,648,941 3,502,709 (853,768)
Other 343,114 360,676 (17,562)
Investment earnings 6,483,704 5,392,910 1,090,794
Miscellaneous 1,584,448 2,879,111 (1,294,663)
Reimbursement from Successor Agency 859,018 867,219 (8,201)
Total general revenues 39,686,131 39,761,424 (75,293)
Total revenues 58,813,508 57,909,527 903,981
Expenses - Governmental Activities
General government 2,827,351 2,432,702 394,649
Police services 11,921,599 11,971,294 (49,695)
Maintenance services
and Lighting and landscape 11,715,263 10,525,094 1,190,169
Development services 20,085,162 15,427,297 4,657,865
Administrative services 5,024,036 4,468,171 555,865
Recreation, arts & community services 4,657,216 4,359,029 298,187
Interest on long-term debt 179,118 204,389 (25,271)
Total expenses 56,409,745 49,387,976 7,021,769
Changes in Net Position $ 2,403,763 $ 8,521,551 $ (6,117,788)
Net Position:
Beginning of year, as restated 299,115,665 290,971,462 8,521,551
Restatement (377,348) - (377,348)
Beginning of year, as restated 299,115,665 - 299,115,665
End of year $ 301,519,428 $ 299,493,013 $ 2,026,415
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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 decreased
by $(6,117,788) reflecting higher change in expenses and higher change in revenues.
Increase
2025 2024 (Decrease)
Revenues:
General revenues 39,686,131$ 39,761,424$ (75,293)$
Total general revenues 39,686,131 39,761,424 (75,293)
Net Expenses:
General government (2,825,336) (2,210,206) (615,130)
Police services (11,284,869) (11,556,873) 272,004
Maintenance services
and Lighting and landscape (8,049,889) (6,881,818) (1,168,071)
Development services (7,548,543) (3,733,185) (3,815,358)
Administrative services (4,726,483) (4,170,618) (555,865)
Recreation, arts, & community services (2,668,130) (2,482,784) (185,346)
Interest on long-term debt (179,118) (204,389) 25,271
Total net expenses (37,282,368) (31,239,873) (6,042,495)
Net Cost of Services 2,403,763$ 8,521,551$ (6,117,788)$
Table 3
Cost of Services
Governmental Activities
Variances shown above are reflected in the net numbers of Tables 2 and 3 and are discussed following Table 3.
Program revenues increased by $979,274. An increase of $88,417 in Charges for Services was due to increase
in Recreations classes, increased activity in Police Services, and increase in the Development Services activity.
Operating Grants decreased a net of $(1,007,242) as grants for Police and Development Services decreased, as
there were less state grants for the Planning division, compare to last fiscal year. Capital Grants and
Contributions increased a net of $1,898,099 as grant for capital projects increased compare to last fiscal year’s
grant.
General revenues increased $903,981 reflecting the net reported increase $859,619 in property tax revenues,
decreased $(853,768) in franchise fees, increased $1,090,794 in investment earning, and decreased $(1,294,663)
in miscellaneous, net with an increase in net reported $133,572 in sales tax revenues.
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 $39,936,036 a net increase of $3,038,278 over last
year. Revenues exceeded expenses by $13,139,499 and transfers out of $(10,102,433) were made for future capital
projects and additional funding for parks and building maintenance in the Lighting and Landscape Assessment District
($1,450,000). Major revenue sources that exceeded budget include property and transfer taxes of $2,406,517 sales taxes
of $367,759, Other taxes of $90,129, intergovernmental of $121,977, Miscellaneous of $497,355 and uses of money
and property of $4,268,297 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 Charges for services $(49,091) and Licenses and permits $(2,781), as actual revenues received were lower than
forecasted. Across the board, cost containment resulted in operating expenditures below budget in all programs. Budget
to actual cost savings totaled $2,132,852. 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 $859,619. This was attributable to
continued strong growth in assessed valuation. Sales tax showed an increase of $133,572. The online sales activity and
brick and mortar businesses (restaurant and retail) showed modest increase compared to last year. Other taxes increased
by $79,463, with motor vehicle receipts and franchise fees reflecting the increase in solid waste revenues per contract
with the authority. Charges for services decreased by $(49,091) as Recreation classes and activities and in-person
operation returned to the pre pandemic level of service. Fines and forfeitures increased slightly by $7,875, reflected in
higher traffic and parking volumes. Uses of money increased by $4,268,297 due to increase in rental from Town
facilities and higher market value of the Town’s investments as of June 30, 2025.
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 decreased by $(289,514) which compares favorably to the planned
and previously projected higher reduction in this fund balance. Cost containment efforts and a budgeted transfer in from
the General Fund of $1,450,000 account for this increase in fund balance.
The Regional Traffic Impact Fees fund balance is reported higher by $139,176 reflecting the increase in revenues, and
decrease in expenditures.
The fund balance in the Capital Improvement Projects Fund increased by a net of $3,470,795 reflecting capital
expenditures and a net transfer in of $7,555,433, helping to offset appropriated capital expenditures in excess of
revenues.
Non-major Special Revenue Funds decreased by a net of $(5,720,957), 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: increase of the Building and Planning Fund by $1,067,761 due to higher revenues resulting from more
building and planning activities and additional state grant and less expenditures; increase of Development Engineering
Fund by $87,332 due to higher revenues resulting from higher volume of engineering services; increase of the Old Town
Parking In-Lieu by $59,480 due to increase of new downtown businesses activities; and Low and Moderate Income
Housing increase by $154,514 from interest income; offset by the decrease of PEG Fund by $(189,242) as a result of
transfer of fund to Asset Replacement and the decrease of subscribers from the cable services; decreased of Gas Tax
Fund by $(1,938,064) due to the Capital Improvement Program (CIP) expenditures spent pending grant receipts;
decreased in Stormwater Pollution Control Program Fund by $(51,694) due to less revenues from assessment fees and
higher expenditures due to more use of consulting services; and the Solid Waste Vehicle Impact Fees Fund decrease by
$(2,141,213) due to higher expenditures in CIP compared to last fiscal year.
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The Non-Major Capital Improvement Funds, increased by a net of $889,987, due to an increase of $1,103,799 in the
Asset Replacement General Fund due to the transfer in from General Fund and other funds and less expenditures; offset
by a decrease of $(134,577) in the Park Facilities Fund due to higher expenses for various CIP projects; and a decrease
of $(65,677) in the Northeast Road Improvements Special Assessment due to higher expenses for various CIP projects.
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 $13,139,499. 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 $3,573,675. The
budget to actual variance in appropriations reflects conservation efforts, leaving postponement of some operational
activities by management. These proactive fiscal measures enabled the Town to transfer $4,231,004 (including
$1,450,000 to LLAD) to fund future capital projects throughout the Town.
Economic Factors
Economic recovery from the Coronavirus pandemic has been aided by strong property values that continue to increase
the Town share of property taxes. Sales tax, which acts as a benchmark for local business performance, reached an all-
time high level by the end of 2022, before dropping off in 2023. Sales tax revenue continues to exceed the Town’s
budget forecasts.
New fiscal challenges are expected to be driven by a variety of factors. Inflation, interest rates, oil prices and stock
market volatility continue to affect the nation’s economy. Recent economic data suggests positive but slower growth
this year fueled by consumer spending. Inflationary trends are subsiding, but core levels remain above targets set by the
Federal Reserve. The cumulative effects of restrictive monetary policy and tighter financial conditions suggest that the
economy will gradually soften, and the Fed will continue to lower rates at a measured pace through this year with the
ability to move more aggressively should employment data warrant.
As of June 30, 2025, the Town'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.
Next Year’s Budget
The 2025/26 Budget will continue to focus on the Town’s highest priorities while reserving funding for capital projects
and maintaining strong reserves. The Town will continue to rely upon a combination of General Fund and Special
Revenues to provide ongoing service. The Town’s five largest revenue sources are Property Tax, Sales Tax, Other
Taxes and Intergovernmental, Special Assessments and Use of Money and Property. These sources will continue
account for more than 82% of all Town revenues.
From a service delivery standpoint, current service levels will be carried forward into 2025/26. The economy will
continue to impact availability and costs for utilities, materials and supplies, contracted services and personnel.
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets
At the end of FY 2025, the Town had a book value of $192,134,148 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 a decrease of $(387,878) net of additions, retirements and depreciation, resulting in a .20% decrease over last
year.
Changes reflect construction of capital assets, offset by depreciation expenses.
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Depreciation 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, 2025 was 80, an increase from last year’s
pavement condition of 78. 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 $3,000,000 per year for the next three years. Further detail
may be found in Note 1F to the Financial Statements and in Note 3 of the Required Supplementary Information.
Accumulated
Depreciation/
Original Cost Amortization Book Value
Land 31,821,867$ -$ 31,821,867$
Buildings and parking lots 64,393,897 (18,179,007) 46,214,890
Park improvements 24,267,438 (23,179,865) 1,087,573
Furniture and equipment 6,046,861 (4,610,337) 1,436,524
Subscription assets 161,099 (89,154) 71,945
Construction in progress 13,105,925 - 13,105,925
Infrastructure 169,367,157 (70,971,733) 98,395,424
Total 309,164,244$ (117,030,096)$ 192,134,148$
Increase
2025 2024 (Decrease)
Land 31,821,867$ 31,821,867$ -$
Buildings and parking lots 46,214,890 47,722,318 (1,507,428)
Park improvements 1,087,573 1,294,070 (206,497)
Furniture and equipment 1,436,524 1,544,502 (107,978)
Subscription assets 71,945 126,695 (54,750)
Construction in progress 13,105,925 11,767,848 1,338,077
Infrastructure 98,395,424 98,244,726 150,698
Total 192,134,148$ 192,522,026$ (387,878)$
June 30, 2025 vs. June 30 2024
Table 4
Capital Assets (Net of Accumulated Depreciation)
June 30, 2025
Table 5
Capital Assets (Net of Accumulated Depreciation/Amortization)
The Town’s five-year Capital Improvement Plan projects will cost $33,053,319 through FY 2028/29. 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 $18,499,317 for pavement
management. Additional details can be found in the Town's 2024/25 Operating Budget and Capital Improvement
Program document available at www.danville.ca.gov/Council_and_Government/Departments/Finance/.
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Debt
At year end, the Town had $5,304,233 in Certificates of Participation (COPs) and Subscription Liabilities and
Compensated Absences outstanding versus $5,489,743 last year, a net decrease of $(185,510), as shown in Table 6
below.
Table 6
Outstanding Debt
June 30, 2025 vs June 30, 2024
2025 2024
Increase
(Decrease)
2001 & 2005 Certificates of Participation $ 3,510,000 $ 4,110,000 $ (600,000)
Subscription liabilities - 74,094 (74,094)
Compensated Absences 1,794,233 1,305,649 488,584
Total $ 5,304,233 $ 5,489,743 $ (185,510)
The $(600,000) decrease in the COP amount is due to scheduled debt service payments, decrease of $(74,094) in the
Subscription liabilities, and the $488,584 increase in Compensated Absences is due to higher cost of personnel compare
to last year, personnel earning more leaves hours than used and the restatement of the Compensated Absences.
Additional information on outstanding debt is presented in Note 8 to the Basic Financial Statements.
CONTACTING THE TOWN’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, taxpayers, customers, investors, and creditors with a general
overview of the Town’s finances and to show the Town’s accountability for the money it receives. If you have questions
about this report or need additional financial information, contact the Town’s Finance Department at the Town of
Danville, 510 La Gonda Way, Danville, California 94526-1740
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BASIC FINANCIAL STATEMENTS
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GOVERNMENT-WIDE FINANCIAL STATEMENTS
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Governmental
Activities
ASSETS
Current assets:
Cash and investments (Note 3)116,405,082$
Receivables (net of allowances):
Accounts 3,412,389
Due from Successor Agency within one year (Note 7)659,401
Leases (Note 4)662,824
Interest 801,342
Total receivables 5,535,956
Prepaid items 181,855
Total current assets 122,122,893
Noncurrent assets:
Restricted cash and investments (Note 3):
Held with fiscal agents 1,809,649
Held by the Town -
Total restricted cash and investments 1,809,649
Leases receivable (Note 4)5,162,043
Capital assets (Note 5):
Nondepreciable 138,003,677
Depreciable/amortizable, net 54,130,471
Total capital assets, net 192,134,148
Total noncurrent assets 199,105,840
Total assets 321,228,733
LIABILITIES
Current liabilities:
Accounts payable 5,113,145
Accrued wages payable 389,765
Retention payable 868,869
Deposits payable 241,416
Interest payable 49,000
Claims liabilities (Note 12)2,903
Unearned revenue (Note 8)2,138,369
Long-term debt - due within one year (Note 9)1,595,000
Total current liabilities 10,398,467
Noncurrent liabilities:
Long-term debt - due in more than one year: (Note 9)
Certificates of participation 2,880,000
Compensated absences 829,233
Total noncurrent liabilities 3,709,233
Total liabilities 14,107,700
DEFERRED INFLOWS OF RESOURCES
Lease-related deferred inflows of resources (Note 4)5,601,605
Total deferred inflows of resources 5,601,605
NET POSITION
Net investment in capital assets (Note 11)187,755,279
Restricted for:
Capital projects 4,028,564
Debt service 2,662,484
Assessment districts 1,317,535
Transportation 9,902,696
Public safety 662,541
Housing 2,116,000
Community development 374,929
Public works 13,894,560
Other programs 320,019
Total restricted 35,279,328
Unrestricted 78,484,821
Total net position 301,519,428$
Town of Danville
Statement of Net Position
June 30, 2025
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 2,827,351$ 1,015$ 1,000$ -$ (2,825,336)$
Police services 11,921,599 310,255 326,475 - (11,284,869)
Maintenance services
and lighting and landscape 11,715,263 3,643,936 1,000 20,438 (8,049,889)
Development services 20,085,162 4,358,350 2,540,798 5,637,471 (7,548,543)
Administrative services 5,024,036 297,553 - - (4,726,483)
Recreation, arts, & community services 4,657,216 1,989,086 - - (2,668,130)
Interest expense 179,118 - - - (179,118)
Total governmental activities 56,409,745$ 10,600,195$ 2,869,273$ 5,657,909$ (37,282,368)
General revenues:
Taxes:
Property 20,765,297
Sales 6,932,759
Motor vehicle license fee 68,850
Franchise 2,648,941
Other 343,114
Total taxes 30,758,961
Investment earnings (Note 3) 6,483,704
Miscellaneous 1,584,448
Reimbursement from Successor Agency (Note 7) 859,018
Total general revenues 39,686,131
Change in net position 2,403,763
Net position - beginning of year, as previously reported 299,493,013
Restatement (Note 15)(377,348)
Net position - beginning of year, as restated 299,115,665
Net position - end of year 301,519,428$
Program Revenues
Town of Danville
Statement of Activities
For the Year Ended June 30, 2025
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
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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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Lighting and
Landscape
Assessment Regional Traffic American Rescue
District Impact Fees Plan Act
Special Revenue Special Revenue Special Revenue
General Fund Fund Fund Fund
ASSETS
Cash and investments $ 41,806,981 $ 4,772,931 $ 4,637,726 $ 1,221,788
Cash and investments with fiscal agents 852,835 - - -
Receivables (net of allowances):
Accounts 1,966,119 38,887 5,480 -
Leases 5,824,867 - - -
Due from Successor Agency of former CDA 659,401 - - -
Interest 464,035 28,457 19,616 -
Prepaid items 181,855 - - -
Total assets $ 51,756,093 $ 4,840,275 $ 4,662,822 $ 1,221,788
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable $ 3,620,601 $ 390,190 $ 11,486 $ 317,300
Accrued wages payable 268,921 40,718 - -
Retention payable - - - 238,488
Deposits payable 198,746 - - -
Claims liabilities 2,903 - - -
Unearned revenue 1,152,489 59,734 - 884,086
Total liabilities 5,243,660 490,642 11,486 1,439,874
Deferred Inflows of Resources:
Unavailable revenue 974,792 - - -
Lease-related deferred inflows of resources 5,601,605 - - -
Total deferred inflows of resources 6,576,397 - - -
Fund Balances:
Nonspendable 181,855 - - -
Restricted 852,835 1,317,535 4,651,336 -
Committed 37,680,679 - - -
Assigned 561,266 3,032,098 - -
Unassigned (deficit) 659,401 - - (218,086)
Total fund balances 39,936,036 4,349,633 4,651,336 (218,086)
Total liabilities, deferred inflows of resources
and fund balances $ 51,756,093 $ 4,840,275 $ 4,662,822 $ 1,221,788
(Continued)
Major Funds
Town of Danville
Governmental Funds
Balance Sheet
June 30, 2025
See accompanying Notes to the Basic Financial Statements.
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Major Funds
Capital
Improvement Non-Major Total
Capital Projects Governmental Governmental
Fund Funds Funds
ASSETS
Cash and investments $ 29,680,457 $ 34,285,199 $ 116,405,082
Cash and investments with fiscal agents - 956,814 1,809,649
Receivables (net of allowances):
Accounts 85,039 1,316,864 3,412,389
Leases - - 5,824,867
Due from Successor Agency of former CDA - - 659,401
Interest 166,207 123,027 801,342
Prepaid items - - 181,855
Total assets $ 29,931,703 $ 36,681,904 $ 129,094,585
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable $ 390,917 $ 382,651 $ 5,113,145
Accrued wages payable 2,168 77,958 389,765
Retention payable 97,413 532,968 868,869
Deposits payable - 42,670 241,416
Claims liabilities - - 2,903
Unearned revenue - 42,060 2,138,369
Total liabilities 490,498 1,078,307 8,754,467
Deferred Inflows of Resources:
Unavailable revenue 85,039 - 1,059,831
Lease-related deferred inflows of resources - - 5,601,605
Total deferred inflows of resources 85,039 - 6,661,436
Fund Balances:
Nonspendable - - 181,855
Restricted - 26,647,973 33,469,679
Committed 29,356,166 8,955,624 75,992,469
Assigned - - 3,593,364
Unassigned (deficit) - - 441,315
Total fund balances 29,356,166 35,603,597 113,678,682
Total liabilities, deferred inflows of resources
and fund balances $ 29,931,703 $ 36,681,904 $ 129,094,585
(Concluded)
Balance Sheet (Continued)
Governmental Funds
Town of Danville
June 30, 2025
See accompanying Notes to the Basic Financial Statements.
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Total Fund Balances - Total Governmental Funds $ 113,678,682
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 138,003,677
Depreciable/amortizable capital assets, net 54,130,471
Total capital assets 192,134,148
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. (49,000)
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.
1,059,831
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 (1,595,000)
Long-term liabilities - due in more than one year:
- Certificates of participation (2,880,000)
- Compensated absences payable (829,233)
Total long-term debt (5,304,233)
Net Position of Governmental Activities 301,519,428$
Town of Danville
Reconciliation of Governmental Funds Balance Sheet to the
Government-Wide Statement of Net Position
June 30, 2025
See accompanying Notes to the Basic Financial Statements.
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Lighting and
Landscape
Assessment Regional Traffic American Rescue
District4 Impact Fees Plan Act
Special Revenue Special Revenue Special Revenue
General Fund Fund Fund Fund
REVENUES:
Property taxes $ 20,765,297 $ - $ - $ -
Sales taxes 6,932,759 - - -
Special assessments - 3,053,116 - -
Other taxes 2,664,129 - - -
Charges for services 2,157,074 - - -
Licenses and permits 347,219 - - -
Development fees - - 125,705 -
Intergovernmental 160,716 - - 3,798,968
Fines and forfeitures 157,875 - - -
Use of money and property 5,819,518 126,510 99,709 -
Reimbursement from Successor Agency 859,018 - - -
Miscellaneous 931,575 137,081 - -
Total revenues 40,795,180 3,316,707 225,414 3,798,968
EXPENDITURES:
Current:
General government 2,771,468 - - -
Police services 10,727,781 - - -
Maintenance services 3,383,491 - - -
Lighting and landscape - 4,726,540 - -
Development services 1,105,364 35,609 84,110 3,029,926
Administrative services 4,562,596 294,072 2,128 -
Recreation, arts, & community services 4,245,963 - - -
Capital outlay - - - 769,042
Debt service:
Principal 674,094 - - -
Interest 184,924 - - -
Total expenditures 27,655,681 5,056,221 86,238 3,798,968
REVENUES OVER (UNDER) EXPENDITURES 13,139,499 (1,739,514) 139,176 -
OTHER FINANCING SOURCES (USES):
Proceeds from sale of property 1,212 - - -
Transfers in (Note 6) - 1,450,000 - -
Transfers out (Note 6) (10,102,433) - - -
Total financing sources (uses) (10,101,221) 1,450,000 - -
NET CHANGE IN FUND BALANCES 3,038,278 (289,514) 139,176 -
FUND BALANCES (DEFICIT):
Beginning of year 36,897,758 4,639,147 4,512,160 (218,086)
End of year $ 39,936,036 $ 4,349,633 $ 4,651,336 $ (218,086)
(Continued)
Major Funds
Town of Danville
Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements.
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Major Funds
Capital
Improvement Non-Major Total
Capital Projects Governmental Governmental
Fund Funds Funds
REVENUES:
Property taxes $ - $ - $ 20,765,297
Sales taxes - - 6,932,759
Special assessments - 579,153 3,632,269
Other taxes - 3,532,428 6,196,557
Charges for services - 1,092,262 3,249,336
Licenses and permits - 5,232 352,451
Development fees - 3,140,683 3,266,388
Intergovernmental 105,193 945,140 5,010,017
Fines and forfeitures - - 157,875
Use of money and property 947,585 773,110 7,766,432
Reimbursement from Successor Agency - - 859,018
Miscellaneous (1,289,827) 156,851 (64,320)
Total revenues (237,049) 10,224,859 58,124,079
EXPENDITURES:
Current:
General government - 40,120 2,811,588
Police services 299,789 500,092 11,527,662
Maintenance services 684,607 1,266,164 5,334,262
Lighting and landscape - - 4,726,540
Development services 253,995 11,748,495 16,257,499
Administrative services - 33,250 4,892,046
Recreation, arts, & community services 64,958 99,429 4,410,350
Capital outlay 2,544,240 2,465,279 5,778,561
Debt service:
Principal - - 674,094
Interest - - 184,924
Total expenditures 3,847,589 16,152,829 56,597,526
REVENUES OVER (UNDER) EXPENDITURES (4,084,638) (5,927,970) 1,526,553
OTHER FINANCING SOURCES (USES):
Proceeds from sale of property - - 1,212
Transfers in (Note 6) 7,555,433 1,197,000 10,202,433
Transfers out (Note 6) - (100,000) (10,202,433)
Total financing sources (uses) 7,555,433 1,097,000 1,212
NET CHANGE IN FUND BALANCES 3,470,795 (4,830,970) 1,527,765
FUND BALANCES (DEFICIT):
Beginning of year 25,885,371 40,434,567 112,150,917
End of year $ 29,356,166 $ 35,603,597 $ 113,678,682
(Concluded)
Town of Danville
Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued)
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements.
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Net Change in Fund Balances - Total Governmental Funds 1,527,765$
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.2,193,659
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. (2,574,542)
Revenues that have not met the revenue recognition criteria in the Fund Financial Statements are recognized as revenue
in the Government-Wide Financial Statements.695,212
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. (111,236)
Repayment of bond principal reduces long-term liabilities in the Government-Wide Statement of Net Position.
Long-term debt repayments:
- Certificates of participation 600,000
- Subscription liablity 74,094
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.5,806
Change in Net Position of Governmental Activities 2,403,763$
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, 2025
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
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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 (Note 3)896,565$ 2,039,042$
Cash and investments with fiscal agents (Note 3)387,567 361,666
Total assets 1,284,132 2,400,708
LIABILITIES
Accounts payable - 291,161
Loan payable to Town (Note 7)659,401 -
Loan payable, due within one year (Note 9)270,000 -
Loan payable, due in more than one year (Note 9)950,000 -
Interest payable 623,348 -
Deposits - 887,411
Total liabilities 2,502,749 1,178,572
NET POSITION (DEFICIT)
Restricted for individuals, organizations, and other governments - 1,222,136
Unrestricted (deficit)(1,218,617) -
Total net position (deficit)(1,218,617)$ 1,222,136$
Town of Danville
Fiduciary Activities
Statement of Fiduciary Net Position
June 30, 2025
See accompanying Notes to the Basic Financial Statements.
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Successor
Agency
Private Purpose
Trust Fund Custodial Fund
ADDITIONS:
Property tax receipts 2,292,850$ -$
Miscellaneous 256,449 -
Total additions 2,549,299 -
DEDUCTIONS:
Amount allocated to General Fund for principal payment 850,000 -
Amount allocated to General Fund for interest payment 9,018 -
Interest 289,932 -
Other 21,874 11,468
Total deductions 1,170,824 11,468
Changes in net position 1,378,475 (11,468)
NET POSITION (DEFICIT):
Beginning of year (2,597,092) 1,233,604
End of year (1,218,617)$ 1,222,136$
Town of Danville
Fiduciary Activities
Statement of Changes in Fiduciary Net Position
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements.
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39
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, 2025
41
Page
Note 1 – Reporting Entity……………………………… .................................................................................... 43
Note 2 – Summary of Significant Accounting Policies ...................................................................................... 44
A. Basis of Presentation, Basis of Accounting, and Measurement Focus ..................................................... 44
B. Cash and Investments ................................................................................................................................ 46
C. Cash and Investments with Fiscal Agent .................................................................................................. 47
D. Prepaid Items ............................................................................................................................................ 47
E. Leases Receivable ..................................................................................................................................... 47
F. Capital Assets ............................................................................................................................................ 48
G. Unearned Revenues ................................................................................................................................... 49
H. Compensated Absences ............................................................................................................................. 50
I. Long-Term Debt ....................................................................................................................................... 50
J. Subscription-Based Information Technology Arrangements (SBITAs) ................................................... 50
K. Deferred Outflows and Inflows of Resources ........................................................................................... 50
L. Net Position ............................................................................................................................................... 51
M. Fund Balance ............................................................................................................................................ 52
N. Spending Policies ...................................................................................................................................... 52
O. Property Taxes .......................................................................................................................................... 52
P. Use of Accounting Estimates .................................................................................................................... 53
Q. Implementation of New GASB Pronouncements ..................................................................................... 53
R. Upcoming Government Accounting Standards Implementation .............................................................. 53
Note 3 – Cash and Investments ........................................................................................................................... 54
A. Demand Deposits ...................................................................................................................................... 56
B. Investments ............................................................................................................................................... 56
C. External Investment Pool .......................................................................................................................... 58
D. Restricted Cash and Investments Held with Fiscal Agent ........................................................................ 58
E. Risk Disclosures ........................................................................................................................................ 58
Note 4 – Leases Receivable and Lease-Related Deferred Inflows of Resources ............................................. 61
Note 5 – Capital Assets ........................................................................................................................................ 62
A. Governmental Activities ........................................................................................................................... 62
Note 6 – Interfund Transactions ......................................................................................................................... 64
A. Transfers In/Out ........................................................................................................................................ 64
Note 7 – Loans Receivable from Successor Agency to the Former Community
Development Agency .......................................................................................................................... 64
A. Successor Agency (SA) Cooperative Agreement Loan Receivable ......................................................... 65
Note 8 – Unearned Revenue ................................................................................................................................ 65
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Town of Danville
Index to Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
42
Page
Note 9 – Long-Term Obligations ........................................................................................................................ 66
A. Governmental Activities ........................................................................................................................... 66
B. Fiduciary Fund Financial Statements ....................................................................................................... 68
Note 10 – Defined Contribution Pension Plan .................................................................................................. 69
A. Section 401(a) Qualified Defined Contribution Pension Plan .................................................................. 69
B. Section 415(m) Benefit Restoration Plan ................................................................................................. 69
Note 11 – Fund Balance Classification and Net Position ................................................................................. 70
Note 12 – Risk Management ............................................................................................................................... 71
Note 13 – Commitments and Contingencies ...................................................................................................... 72
Note 14 – Other Required Disclosures ............................................................................................................... 73
A. Expenditures Exceeding Appropriations .................................................................................................. 73
B. Deficit Net Position/Fund Balance ........................................................................................................... 74
Note 15 – Prior Period Adjustment – Change in Accounting Principle ......................................................... 74
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Town of Danville
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
43
Note 1 – Reporting Entity
The Town of Danville, California (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 42,960.
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 129.5 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, 2025
44
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.
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, 2025
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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 Assessment District 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 - This fund is used to account for development impact
fees that are collected to support infrastructure improvements that mitigate the impacts of new development
on the local transportation system.
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.
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 full accrual and economic resources measurement focus
basis of accounting.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
46
Note 2 – Summary of Significant Accounting Policies (Continued)
A. Basis of Presentation, Basis of Accounting, and Measurement Focus (Continued)
Fiduciary Fund Financial Statements (Continued)
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.
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, 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.
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Note 2 – Summary of Significant Accounting Policies (Continued)
B. Cash and Investments (Continued)
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
Certain payments applicable to future accounting periods are recorded as prepaid items. Prepaid items are
reported under the consumption method, which recognizes the expenditure/expense in the period associated with
the goods consumed or the services rendered. Prepaid items do not reflect current appropriable resources and,
thus, an equivalent portion of fund balance is reported as nonspendable in governmental funds.
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.
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.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
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Note 2 – Summary of Significant Accounting Policies (Continued)
E. Leases Receivable (Continued)
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. 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.
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
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
49
Note 2 – Summary of Significant Accounting Policies (Continued)
F. Capital Assets (Continued)
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, Basic Financial
Statements – and Management’s Discussion and Analysis – for State and Local Governments, 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, 2025. 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.
G. Unearned Revenues
For the Government-wide Financial Statements, unearned revenue is recognized in connection with a transaction
before the earnings process is completed.
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Town of Danville
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For the Year Ended June 30, 2025
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Note 2 – Summary of Significant Accounting Policies (Continued)
G. Unearned Revenues (Continued)
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, which is typically defined as
within 90 days after the balance sheet date. 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 balance sheet and revenue is recognized.
H. Compensated Absences
The Town accounts for compensated absences in accordance with GASB Statement No. 101, Compensated
Absences. Under this standard, a liability is recognized for leave benefits (such as vacation and sick leave) when
the benefits are attributable to services already rendered, accumulate for use in future periods, and are more likely
than not to be used or paid. The liability is measured using the employee’s pay rate in effect at the financial
statement date and includes salary-related payments. 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.
I. 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.
J. 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.
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.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
51
Note 2 – Summary of Significant Accounting Policies (Continued)
J. Subscription-Based Information Technology Arrangements (SBITAs) (Continued)
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.
K. Deferred Outflows and Inflows of Resources
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.
L. 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.
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Town of Danville
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Note 2 – Summary of Significant Accounting Policies (Continued)
M. 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.
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.
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Note 2 – Summary of Significant Accounting Policies (Continued)
O. Property Taxes
Property taxes are levied on all taxable real and personal property located within the Town’s boundaries. The
County of Contra Costa levies, bills, and collects property taxes and special assessments for the Town. The
County remits to the Town the full amount of its property tax and assessment levies under the Teeter Plan,
whereby the County advances participating local agencies 100 percent of the current secured tax levies, regardless
of actual collections. In exchange, the County retains all penalties and interest on delinquent accounts when
collected. Revenue is recognized in the fiscal year for which the tax and assessment are levied.
Property taxes attach as an enforceable lien on property as of January 1 and are levied and collected according to
the following schedule:
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 that affect certain reported amounts and disclosures. Accordingly, actual results could differ
from those estimates. Estimates are used in connection with the valuation of assets and liabilities, the disclosure
of contingent assets and liabilities, and the determination of revenues, expenditures, and expenses, as applicable.
Q. Implementation of New GASB Pronouncements
During fiscal year ended June 30, 2025, the Town has implemented the following new GASB statements:
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 had a moderate effect on the Town’s financial reporting for the
fiscal year ended June 30, 2025. See Note 15.
GASB Statement No. 102 – In December 2023, GASB issued Statement No. 102, Certain Risk Disclosures.
The objective of this Statement is to provide users of government financial statements with essential
information about risks related to a government's vulnerabilities due to certain concentrations or constraints
which may limit a government's ability to acquire resources or control spending. Application of this statement
is effective for the Town’s fiscal year ending June 30, 2025.
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Town of Danville
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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. 103 – In December 2023, GASB issued Statement No. Financial Reporting Model
Improvements. The objective of this Statement is to improve key components of the financial reporting model
to enhance its effectiveness in providing information that is essential for decision making and assessing a
government’s accountability. Application of this statement is effective for the Town’s fiscal year ending
June 30, 2026.
GASB Statement No. 104 – In September 2024, GASB issued Statement No. 104, Disclosure of Certain
Capital Assets. This Statement requires certain types of capital assets to be disclosed separately in the capital
assets note disclosures required by Statement 34. Lease assets recognized in accordance with Statement No.
87, Leases, and intangible right-to-use assets recognized in accordance with Statement No. 94, Public-Private
and Public-Public Partnerships and Availability Payment Arrangements, should be disclosed separately by
major class of underlying asset in the capital assets note disclosures. Subscription assets recognized in
accordance with Statement No. 96, Subscription-Based Information Technology Arrangements, also should
be separately disclosed. In addition, this Statement requires intangible assets other than those three types to be
disclosed separately by major class. Application of this statement is effective for the Town’s fiscal year
ending June 30, 2026.
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, 2025:
Primary
Government Fiduciary
Governmental Fund Financial
Activities Statements Total
Cash and investments 116,405,082$ 2,935,607$ 119,340,689$
Subtotal held by Town 116,405,082 2,935,607 119,340,689
Held by fiscal agents 1,809,649 749,233 2,558,882
Total cash and investments 118,214,731$ 3,684,840$ 121,899,571$
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Note 3 – Cash and Investments (Continued)
At June 30, 2025, 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, 2025:
Percentage of Measurement
Investment Type Fair Value Investments Input
Demand deposits 3,149,223$ N/A N/A
Investments:
U.S. Securities:
U.S. Treasury 45,099,925 37.98% Level 2
Federal Securities 19,340,758 16.29% Level 2
Asset Backed Securities 5,254,444 4.42% Level 2
Collateralized Mortgage Obligations 8,718,064 7.34% Level 2
Supranational:
Inter-American Dev Bank Note 1,007,610 0.85% Level 2
Int'l Bank Recon & Development 1,488,833 1.25% Level 2
International Finance Corp Note 931,879 0.78% Level 2
U.S. Corporate Notes/FDIC:0.00%
Amazon.com Inc. Callable Note 983,711 0.83% Level 2
Apple Inc. Callable 745,293 0.63% Level 2
Apple Inc. Note 464,203 0.39% Level 2
Bank of America NA Callable Note 1,014,183 0.85% Level 2
Bank of NY Mellon Corp Callable Note 1,259,559 1.06% Level 2
Blackrock Funding Inc. 698,425 0.59% Level 2
Caterpillar Financial Service Note 1,017,024 0.86% Level 2
Cisco Systems, Inc.1,012,126 0.85% Level 2
Colgate Palmolive Co. Note 469,101 0.40% Level 2
Honeywell International Callable Note 977,743 0.82% Level 2
John Deere Capital Corp Note 1,006,285 0.85% Level 2
JP Morgan Chase & Co. Callable Note 410,127 0.35% Level 2
Microsoft Callable Note 995,659 0.84% Level 2
Morgan Stanley Bank NA Callable Note 449,259 0.38% Level 2
Paccar Financial Corp. Note 520,376 0.44% Level 2
Pepsico Inc. Callable Note 364,536 0.31% Level 2
State Street Corp Callable Note 1,080,413 0.91% Level 2
Toyota Motor Credit Corp 970,536 0.82% Level 2
Visa Inc. 976,025 0.82% Level 2
Wal-Mart Stores Callable Note 699,370 0.59% Level 2
Local Agency Investment Fund (LAIF) 16,884,795 14.22% N/A
Money Market Funds 3,910,086 3.29% N/A
Total investments 118,750,348 100.00%
Total cash and investments 121,899,571$
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
56
Note 3 – Cash and Investments (Continued)
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 pricing 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 $3,149,223 at June 30, 2025. Bank balances as of
June 30, 2025, were $3,403,114 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.
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 October 15, 2024. 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".
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
57
Note 3 – Cash and Investments (Continued)
B. Investments (Continued)
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 4,028,049$
Unrealized gain (loss) on changes in fair value
of investments 2,455,655
Total investment earnings 6,483,704$
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.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
58
Note 3 – Cash and Investments (Continued)
C. External Investment Pool
California Local Agency Investment Fund (LAIF) – The Town is a participant in LAIF, which is regulated by
California Government Code Section 16429 under the oversight of the Treasurer of the State of California. As of
June 30, 2025, the City had $16,884,795 invested in LAIF. 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. LAIF is reported
at amortized cost, which approximates fair value.
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 $1,809,649 in the Governmental-wide
Statement of Net Position and Balance Sheet – Governmental Funds and $749,233 in the Statement of Fiduciary
Net Position. These funds have been invested only as permitted by specific State statutes governing these
investments or by applicable Town ordinance, resolution or bond indenture.
E. Risk Disclosures
Interest Rate Risk
As a means of limiting its exposure to fair value losses arising from rising interest rates, the Town’s Policy
provides that final maturities of securities limits as follows:
Maturity
Maximum
Investment
Up to six months 25%
Six months to five years 75%
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
59
Note 3 – Cash and Investments (Continued)
E. Risk Disclosures (Continued)
Interest Rate Risk (Continued)
Specific maturities of investments depend on liquidity needs. At June 30, 2025, the Town's pooled cash and
investments had the following maturities:
Investment Type Fair Value 1 year or less 1-2 years 2-3 years 3-4 years 4-5 years
Demand deposits 3,149,223$ 3,149,223$ -$ -$ -$ -$
Investments:
U.S. Securities:
U.S. Treasury 45,099,925 13,028,622 12,348,472 10,305,008 3,943,274 5,474,549
Federal Securities 19,340,758 3,000,663 3,532,257 9,795,251 1,537,402 1,475,185
Asset Backed Securities 5,254,444 25,946 275,480 791,587 2,171,822 1,989,609
Collateralized Mortgage Obligations 8,718,064 - 1,970,413 3,777,282 2,970,369 -
Supranational:
Inter-American Dev Bank Note 1,007,610 - 1,007,610 - - -
Int'l Bank Recon & Development 1,488,833 - - - 1,488,833 -
International Finance Corp Note 931,879 - 931,879 - - -
U.S. Corporate Notes/FDIC:
Amazon.com Inc. Callable Note 983,711 - - 983,711 - -
Apple Inc. Callable 745,293 745,293 - - - -
Apple Inc. Note 464,203 - - - - 464,203
Bank of America NA Callable Note 1,014,183 - 1,014,183 - - -
Bank of NY Mellon Corp Callable Note 1,259,559 - - - 1,259,559 -
Blackrock Funding Inc. 698,425 - - 698,425 - -
Cat erpillar Financial Service Note 1,017,024 - 1,017,024 - - -
Cisco Systems, Inc.1,012,126 - 1,012,126 - - -
Colgate Palmolive Co. Note 469,101 469,101 - - - -
Honeywell International Callable Note 977,743 - 977,743 - - -
John Deere Capital Corp Note 1,006,285 - 1,006,285 - - -
JP Morgan Chase & Co. Callable Note 410,127 - 410,127 - - -
Microsoft Callable Note 995,659 995,659 - - - -
Morgan Stanley Bank NA Callable Note 449,259 - 449,259 - - -
Paccar Financial Corp. Note 520,376 - 520,376 - - -
Pepsico Inc. Callable Note 364,536 - 364,536 - - -
State Street Corp Callable Note 1,080,413 - 1,080,413 - - -
Toyota Motor Credit Corp 970,536 970,536 - - - -
Visa Inc. 976,025 - - 976,025 - -
Wal-Mart Stores Callable Note 699,370 699,370 - - - -
Local Agency Investment Fund (LAIF) 16,884,795 16,884,795 - - - -
Money Market Funds 3,910,086 3,910,086 - - - -
Total investments 118,750,348 40,730,071 27,918,183 27,327,289 13,371,259 9,403,546
Total cash and investments 121,899,571$ 43,879,294$ 27,918,183$ 27,327,289$ 13,371,259$ 9,403,546$
Maturities (in years)
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.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
60
Note 3 – Cash and Investments (Continued)
E. Risk Disclosures (Continued)
Credit Risk (Continued)
At June 30, 2025, the Town's investments are rated as follows:
Moody's S&P
Investments:
U.S. Securities:
U.S. Treasury Aa1 AA+
Federal Securities Aa1 AA+
Asset Backed Securities Aaa AAA
Collateralized Mortgage Obligations Aa1 AA+
Supranational:
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
Apple Inc. Callable Aaa AA+
Apple Inc. Note Aaa AA+
Bank of America NA Callable Note Aa2 A+
Bank of NY Mellon Corp Callable Note Aa3 A
Blackrock Funding Inc. Aa3 AA-
Caterpillar Financial Service Note A2 A
Cisco Systems, Inc. A1 AA-
Colgate Palmolive Co. Note Aa3 A+
Honeywell International Callable Note A2 A
John Deere Capital Corp Note A1 A
JP Morgan Chase & Co. Callable Note Aa2 A+
Microsoft Callable Note Aaa AAA
Morgan Stanley Bank NA Callable Note Aa3 A+
Paccar Financial Corp. Note A1 A+
Pepsico Inc. Callable Note A1 A+
State Street Corp Callable Note Aa3 A
Toyota Motor Credit Corp A1 A+
Visa Inc. Aa3 AA-
Wal-Mart Stores Callable Note Aa2 A+
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, 2025
61
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, 2025, the Town recognized $668,704 in lease revenue and $129,885 in interest
revenue, and the outstanding net present value of the lease receivable amount is $5,824,867.
A summary of changes in lease receivable for the fiscal year ended June 30, 2025 is as follows:
Amounts Amounts
Balance Balance due within due in more
July 1, 2024 Additions Reductions June 30, 2025 one year than one year
3,546,194$ 2,839,816$ (561,143)$ 5,824,867$ 662,824$ 5,162,043$
As of June 30, 2025, the required payments for these leases, including interest, are:
Total
Year Ending Lease
June 30 Principal Interest Payments
2026 662,824$ 150,281$ 813,105$
2027 594,046 131,693 725,739
2028 517,284 115,806 633,090
2029 545,966 100,407 646,373
2030 560,909 84,148 645,057
2031-2035 988,291 304,570 1,292,861
2036-2040 602,451 194,179 796,630
2041-2045 375,181 136,668 511,849
2046-2050 477,728 87,394 565,122
2051-2055 500,187 25,940 526,127
Total 5,824,867$ 1,331,086$ 7,155,953$
As of June 30, 2025, the amounts reported as deferred inflows of resources related to leases will be recognized as
lease revenue as follows:
Year Ending
June 30 Total
2026 779,057$
2027 658,563
2028 545,939
2029 545,639
2030 532,351
2031-2035 1,015,759
2036-2040 557,469
2041-2045 339,172
2046-2050 339,172
2051-2055 288,484
Total 5,601,605$
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
62
Note 5 – Capital Assets
A. Governmental Activities
Summary of changes in capital assets for the year ended June 30, 2025 was as follows:
Balance Transfers/ Balance
July 1, 2024 Additions Retirements Reclassifications June 30, 2025
Governmental Activities:
Capital assets, not being depreciated/amortized:
Land 31,821,867$ -$ -$ -$ 31,821,867$
Construction in progress 11,767,848 1,795,718 (6,995) (450,646) 13,105,925
Infrastructure - streets, concrete & asphalt pavements 93,075,885 - - - 93,075,885
Total capital assets not being depreciated/amortized 136,665,600 1,795,718 (6,995) (450,646) 138,003,677
Capital assets being depreciated/amortized:
Buildings and parking lots/street 64,393,897 - - - 64,393,897
Park improvements 24,267,438 - - - 24,267,438
Furniture and equipment 5,730,828 351,710 (35,677) - 6,046,861
Subscription assets 331,124 46,231 (216,256) - 161,099
Infrastructure:
Drainage system 56,689,603 - - 450,646 57,140,249
Bridges 12,153,067 - - - 12,153,067
Signal system 6,997,956 - - - 6,997,956
Total capital assets being depreciated/amortized 170,563,913 397,941 (251,933) 450,646 171,160,567
Accumulated depreciation/amortization:
Buildings and parking lots (16,671,579) (1,507,428) - - (18,179,007)
Park improvements (22,973,368) (206,497) - - (23,179,865)
Furniture and equipment (4,186,326) (459,688) 35,677 - (4,610,337)
Subscription assets (204,429) (100,981) 216,256 - (89,154)
Infrast ructure:
Drainage system (56,304,123) (24,980) - - (56,329,103)
Bridges (8,302,166) (175,403) - - (8,477,569)
Signal system (6,065,496) (99,565) - - (6,165,061)
Total accumulated depreciation/amortization (114,707,487) (2,574,542) 251,933 - (117,030,096)
Total capital assets, being depreciated/amortized, net 55,856,426 (2,176,601) - 450,646 54,130,471
Governmental activities capital assets, net 192,522,026$ (380,883)$ (6,995)$ -$ 192,134,148$
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
63
Note 5 – Capital Assets (Continued)
A. Governmental Activities (Continued)
Depreciation/amortization expenses by program for capital assets for the year ended June 30, 2025, were as
follows:
Police Services
Building $ 19,250
Furniture & equipment (vehicle) 372,755
Subtotal 392,005
Maintenance Services
Building 1,053,317
Parking lots 307,158
Park improvements 203,638
Furniture & equipment (vehicle) 59,444
Subtotal 1,623,557
Development Services
Furniture & equipment (vehicle) 13,129
Infrastructure - drainage 24,980
Infrastructure - bridge 175,403
Subtotal 213,512
Transportation (Community) Services
Infrastructure - signal 99,565
Subtotal 99,565
Administrative Services
Building 1,212
Furniture & equipment (vehicle) 13,793
Subscription assets 100,981
Subtotal 115,986
Parks and Recreation Services
Building 126,491
Park improvements 2,859
Furniture & equipment (vehicle) 567
Subtotal 129,917
Total depreciation/amortization expense $ 2,574,542
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
64
Note 6 – Interfund Transactions
A. Transfers In/Out
Transfers in/out for the year ended June 30, 2025, 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 1,350,000$ 7,555,433$ 1,197,000$ 10,102,433$
Non-Major Governmental Funds 100,000 - - 100,000
Total 1,450,000$ 7,555,433$ 1,197,000$ 10,202,433$
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 fiscal year 2012, the Town’s Successor Agency Trust Fund was established to replace the former Community
Development Agency pursuant to state redevelopment agency dissolution legislation (see Note 1 for additional
information). The loan receivable represents amounts advanced by the Town to the former Agency under a
Cooperative Loan Agreement to finance redevelopment activities. Below are the accounts and transactions as of and
for the year ended June 30, 2025:
Government-Wide Financial Statements
Loans Receivable
Cooperative Loan Agreement $ 659,401
Total $ 659,401
Reimbursement from Successor Agency $ 859,018
Governmental Funds Financial Statements
General Fund
Due from Successor Agency of
Former Community Development Agency 659,401$
Total 659,401$
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
65
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 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 $3,195,604 was approved in
addition to the original amount and was recognized as special item in the basic financial statements.
Fiscal Year Amount
2026 659,401$
Total 659,401$
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, 2025, unearned revenues in the Government-Wide Financial
Statements and governmental funds statements were as follows:
Governmental
Activities
American Rescue Plan Act unspent funds $ 884,086
Recreation program registration 938,757
Business licenses 209,913
Other 105,613
Total $ 2,138,369
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
66
Note 9 – Long-Term Obligations
A. Governmental Activities
A summary of changes in long-term debt for the year ended June 30, 2025 is as follows:
GASB 101 Due Due in
Balance Restatement Net
Balance Within More than
Description July 1, 2024 (Note 15) Additions Retirements Change June 30, 2025 One Year One Year
Publicly offered COPs:
2001 issue 1,245,000$ -$ -$ (395,000)$ -$ 850,000$ 415,000$ 435,000$
2005 issue 2,865,000 - - (205,000) - 2,660,000 215,000 2,445,000
Subscription liability 74,094 - - (74,094) - - - -
Compensated absences 1,305,649 377,348 - - 111,236 1,794,233 965,000 829,233
Total 5,489,743$ 377,348$ -$ (674,094)$ 111,236$ 5,304,233$ 1,595,000$ 3,709,233$
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, 2025 are as follows:
For the Years Ending
June 30, Principal Interest Total
2026 $ 415,000 $ 32,125 $ 447,375
2027 435,000 10,875 445,875
Total $ 850,000 $ 43,000 $ 893,250
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
67
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, 2025, are as follows:
For the Years Ending
June 30, Principal Interest Total
2026 $ 215,000 $ 123,025 $ 338,025
2027 225,000 113,082 338,082
2028 235,000 102,675 337,675
2029 245,000 91,806 336,806
2030 260,000 80,475 340,475
2031-2035 1,480,000 211,825 1,691,825
Total $ 2,660,000 $ 722,888 $ 3,382,888
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 were calculated using the Town’s incremental borrowing rate of 3.0%. At June 30, 2025, the
outstanding balance was $0.
Compensated Absences
The Town's liability for vested and unpaid compensated absences (accrued vacation and sick pay plus salary-
related costs) has been accrued and amounts to $1,794,233 at June 30, 2025. It is estimated that $965,000 will
either be used as time off or will be paid out in the next fiscal year.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
68
Note 9 – Long-Term Obligations (Continued)
B. Fiduciary Fund Financial Statements
Summary of changes in long-term obligations for the year ended June 30, 2025 was as follows:
Due Due in
Balance Balance Within More than
Description July 1, 2024 Additions Retirements June 30, 2025 One Year One Year
Loans payable 1,470,000$ -$ (250,000)$ 1,220,000$ 270,000$ 950,000$
Total 1,470,000$ -$ (250,000)$ 1,220,000$ 270,000$ 950,000$
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, 2025 are as follows:
For the Years Ending
June 30,Principal Interest Total
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 $ 1,220,000 $ 218,026 $ 1,438,026
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
69
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, 2025, was $10,721,163. Total
employee contributions paid by the Town amounted to $1,425,111 or 13.29% 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, 2025, the Plan had 178 participants
and the market value of the Plan amounted to $27,018,484.
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 $66,352. As
of June 30, 2025, the Plan had two participants and the market value of the Plan amounted to $622,627.
The Defined Contribution Pension Plan and the Benefit Restoration Plan are not included in the accompanying
financial statements.
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Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
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Note 11 – Fund Balance Classification and Net Position
At June 30, 2025, 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
Prepaid items $ 181,855 $ - $ - $ - $ - $ - $ 181,855
Total nonspendable 181,855 - - - - - 181,855
Restricted
Special revenue - 1,317,535 4,651,336 - - 26,647,973 32,616,844
Debt service 852,835 - - - - - 852,835
Total restricted 852,835 1,317,535 4,651,336 - - 26,647,973 33,469,679
Committed
Capital projects 18,564,331 - - - 29,356,166 8,955,624 56,876,121
Operating reserve 16,009,768 - - - - - 16,009,768
Contingency 881,348 - - - - - 881,348
Reward fund 10,000 - - - - - 10,000
Compensated absences/personnel 2,215,232 - - - - - 2,215,232
Total committed 37,680,679 - - - 29,356,166 8,955,624 75,992,469
Assigned
Economic Development consultant 14,000 - - - - - 14,000
Emergency preparedness COVID-19 85,256 - - - - - 85,256
Engineering software 10,000 - - - - - 10,000
Equipment maintenance 50,000 - - - - - 50,000
Finance consulting services 10,000 - - - - - 10,000
Human resources consulting services 60,000 - - - - - 60,000
Information technology consulting services 22,000 - - - - - 22,000
Information technology equipment 25,000 - - - - - 25,000
Internal services equipment 10,010 - - - - - 10,010
Internal services internet 22,000 - - - - - 22,000
Lighting and landscape - 3,032,098 - - - - 3,032,098
Police management canine supplies 7,000 - - - - - 7,000
Police management equipment 110,000 - - - - - 110,000
Police management software 40,000 - - - - - 40,000
Police management training 20,000 - - - - - 20,000
Town Council 5,000 - - - - - 5,000
Townwide bonus program 26,000 - - - - - 26,000
Townwide special events 20,000 - - - - - 20,000
Transportation consulting services 25,000 - - - - - 25,000
Total assigned 561,266 3,032,098 - - - - 3,593,364
Unassigned (deficit)659,401 - - (218,086) - - 441,315
Total fund balance (deficit)39,936,036$ 4,349,633$ 4,651,336$ (218,086)$ 29,356,166$ 35,603,597$ 113,678,682$
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, 2025
71
Note 11 – Fund Balance Classification and Net Position (Continued)
Net Investment in Capital Assets
The details of net investment in capital assets in the Statement of Net Position as of June 30, 2025, are presented
below:
Governmental
Activities
Capital assets, not being depreciated 138,003,677$
Capital assets, net of depreciation and amortization 54,130,471
Less: debt related to capital assets
2001 COPs (850,000)
2005 COPs (2,660,000)
Less: retentions payable (868,869)
Net investment in capital assets 187,755,279$
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 $29,000,000. 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 $1,597,054 for fiscal year
2024/2025 are in accordance with formulas established by the MPA. Actual surpluses or losses are shared according
to a formula developed from overall loss costs and spread to member entities on a percentage basis after a
retrospective rating.
Estimates of deductibles for incurred, but not reported, (IBNR) liability claims are included in the Town's claims
estimates and are based upon historical experiences as calculated by the MPA. During the year, the Town did not
receive a dividend from the MPA based on the results of prior years' actitivites. The following provides a
reconciliation of the amount accrued for estimated out of pocket amounts to be paid for IBNR deductibles:
Beginning Claims and Payments for End
of Year Changes in Current and of Year
Fiscal Year Liability Estimates Prior Years Liability
2022-2023 45,214$ 7,934$ (21,339)$ 31,809$
2023-2024 31,809 75,395 (41,961) 65,243
2024-2025 65,243 (6,151) (56,189) 2,903
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
72
Note 12 – Risk Management (Continued)
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. The Town’s net insurance cost for the year ended June 30, 2025 was the following:
Insurance cost 1,227,737$
Less: dividend received -
Net insurance cost 1,227,737$
The MPA's audited condensed financial information as of and for the year ended June 30, 2024 (most recently
available), are as follows:
Total assets 101,905,586$
Total deferred outflows of resources 1,594,333$
Total liabilities 20,965,712$
Total deferred inflows of resources 294,481$
Total net position 27,858,225$
Total operating revenues 56,395,411$
Total operating expenses 57,643,086$
Net operating (loss)(1,247,675)$
Non-operating revenues (expenses)4,842,168$
Change in net position 3,594,493$
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, 2025, the Town’s appropriations limit totals $51,850,346 and the
Town’s appropriations subject to limitation were $25,270,077.
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
73
Note 13 – Commitments and Contingencies (Continued)
2025 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, 2025. These projects are evidenced
by contractual commitments with contractors. As of June 30, 2025, the Town's outstanding contractual commitments
amount were $2,261,595.
Note 14 – Other Required Disclosures
A. Expenditures Exceeding Appropriations
For the year ended June 30, 2025, the following funds had excess expenditures over appropriations, which are
expected to be covered with existing fund balance or had sufficient available revenue:
Excess Expenditures
Fund Function over Appropriations
American Rescue Plan Act Special Revenue Fund Development services 3,029,926$
American Rescue Plan Act Special Revenue Fund Capital outlay 769,042
Gas Tax Special Revenue Fund Administrative services 1,249
Child Care Special Revenue Fund Administrative services 22
Measure C/J Special Revenue Fund Capital outlay 1,830,938
General Development Impact Fees Special Revenue Fund Recreation, arts, and community services 79,629
Public Safety Special Revenue Fund Administrative services 171
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Town of Danville
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
74
Note 14 – Other Required Disclosures (Continued)
B. Deficit Net Position/Fund Balance
The following funds have deficit fund balance or net position at June 30, 2025:
Fund Balance
American Rescue Plan Act Special Revenue Fund (218,086)$
Successor Agency Private Purpose Trust Fund (1,218,617)
Deficit balances in governmental funds are expected to be covered by future revenues or General Fund subsidy.
The deficit fund balance in the Successor Agency private-purpose trust fund is expected to be covered by receipt
of tax increment funding.
Note 15 – Prior Period Adjustment – Change in Accounting Principle
Beginning net position on the government-wide statement of activities has been restated as follows in order to
implement GASB Statement No. 101, Compensated Absences:
Governmental
Activities
Net position July 1, 2024, as previously report e 299,493,013$
GASB 101 implementation (377,348)
Restated net postion July 1, 2024 299,115,665$ DRAF
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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, 2025
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 legal level of budgetary control is at the program level. 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 accounting principles generally accepted in the United States
of America (U.S. GAAP).
Budgeted amounts are as originally adopted or as amended by the Town Council. Individual amendments were not
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedules
For the Year Ended June 30, 2025
78
General Fund
Variance
Original Final From Final
Budget Budget Actual Budget
REVENUES:
Property taxes $ 18,358,780 $ 18,358,780 $ 20,765,297 $ 2,406,517
Sales taxes 6,565,000 6,565,000 6,932,759 367,759
Other taxes 2,574,000 2,574,000 2,664,129 90,129
Charges for services 2,206,165 2,206,165 2,157,074 (49,091)
Licenses and permits 350,000 350,000 347,219 (2,781)
Intergovernmental 1,200 38,739 160,716 121,977
Fines and forfeitures 150,000 150,000 157,875 7,875
Use of money and property 1,113,163 1,551,221 5,819,518 4,268,297
Reimbursement from Successor Agency 784,625 859,018 74,393
Miscellaneous 130,000 434,220 931,575 497,355
Total revenues 31,448,308 33,012,750 40,795,180 7,782,430
EXPENDITURES:
Current:
General government
Town Council 262,278 395,889 319,995 75,894
Town Manager 1,156,752 1,183,361 857,863 325,498
Town Attorney 481,502 517,266 576,848 (59,582)
Town Clerk 318,813 348,935 317,033 31,902
Community outreach 372,071 398,071 341,507 56,564
Economic development 515,319 535,978 358,222 177,756
Total general government 3,106,735 3,379,500 2,771,468 608,032
Police services
Administration 2,097,885 2,211,980 2,002,692 209,288
Patrol 6,724,517 6,828,179 5,855,259 972,920
Traffic 1,290,946 1,292,946 1,186,614 106,332
Investigations 1,175,519 1,200,353 1,086,417 113,936
PS Youth Services 603,590 603,590 490,632 112,958
Emergency preparedness 134,863 228,772 106,167 122,605
Total police services 12,027,320 12,365,820 10,727,781 1,638,039
Maintenance services
Management 445,608 564,936 533,614 31,322
Building maintenance 540,745 1,108,564 1,108,030 534
Park maintenance 1,442,347 1,483,316 1,398,705 84,611
Equipment maintenance 421,500 481,313 343,142 138,171
Total maintenance services 2,850,200 3,638,129 3,383,491 223,316
Development services
Management 31,338 31,338 26,427 4,911
Planning 239,594 239,594 223,462 16,132
Engineering 152,014 156,014 145,025 10,989
Capital project management 721,683 721,683 710,450 11,233
Transportation 23,667 - 23,667
Total development services 1,144,629 1,172,296 1,105,364 66,932
(Continued)
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedules (Continued)
For the Year Ended June 30, 2025
79
General Fund (Continued)
Variance
Original Final From Final
Budget Budget Actual Budget
EXPENDITURES (C on ti n u e d):
Current (Continued):
Administrative services
Management 357,370 357,370 345,741 11,629
Finance 762,495 818,679 670,022 148,657
Information technology 805,809 892,319 630,055 262,264
Animal control 467,608 467,608 467,608 -
Human resources 486,707 577,152 364,979 212,173
Risk management 292,012 382,833 232,524 150,309
Internal services 189,882 209,882 183,567 26,315
Total administrative services 5,029,983 5,373,943 4,562,596 811,347
Recreation, arts, and community services
Management 393,545 393,545 390,274 3,271
Sports and fitness 736,349 739,779 720,439 19,340
Facilities management 654,873 654,873 654,048 825
Culture arts 774,639 774,639 767,614 7,025
Youth services 577,816 577,816 535,722 42,094
Teen services 441,648 441,648 404,052 37,596
Adult services 159,857 159,857 138,394 21,463
Senior services 394,481 399,445 345,500 53,945
Special events 322,783 333,641 289,920 43,721
Total recreation, arts, and community services 4,455,991 4,475,243 4,245,963 226,009
Debt service:
Principal - 674,094 674,094 -
Interest - 184,924 184,924 -
Total expenditures 28,614,858 31,263,949 27,655,681 3,573,675
REVENUES OVER (UNDER) EXPENDITURES 2,833,450 1,748,801 13,139,499 4,208,755
OTHER FINANCING SOURCES (USES):
Proceeds from sale of propert - - 1,212 1,212
Transfers out - - (10,102,433) (10,102,433)
Total other financing sources (uses) - - (10,101,221) (10,101,221)
NET CHANGE IN FUND BALANCE $ 2,833,450 $ 1,748,801 3,038,278 $ 1,289,477
FUND BALANCE:
Beginning of year 36,897,758
End of year $ 39,936,036
(Concluded)
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedules (Continued)
For the Year Ended June 30, 2025
80
Lighting and Landscape Assessment District Special Revenue Fund
Variance
Original Final From Final
Budget Budget Actual Budget
REVENUES:
Special assessments $ 3,031,856 $ 3,031,856 $ 3,053,116 $ 21,260
Use of money and property 8,999 8,999 126,510 117,511
Miscellaneous 88,898 88,898 137,081 48,183
Total revenues 3,129,753 3,129,753 3,316,707 186,954
EXPENDITURES :
Current:
Maintenance services
Capital project management 257,470 228,656 - 228,656
Total maintenance services 257,470 228,656 - 228,656
Development services
Engineering 269,566 269,599 35,609 233,990
Total development services 269,566 269,599 35,609 233,990
Lighting and landscape
Building maintenance 540,745 542,682 542,553 129
Park maintenance 1,442,914 1,483,883 1,385,133 98,750
Roadside maintenance 2,321,358 2,407,241 2,037,164 370,077
Street light maintenance 919,244 919,244 761,690 157,554
Total lighting and landscape 5,224,261 5,353,050 4,726,540 626,510
Administrative services
Finance 2,616 294,655 294,072 583
Total administrative services 2,616 294,655 294,072 583
Total expenditures 5,753,913 6,145,960 5,056,221 1,089,739
REVENUES OVER (UNDER) EXPENDITURES (2,624,160) (3,016,207) (1,739,514) 1,276,693
OTHER FINANCING SOURCES (USES)
Transfers in 1,450,000 1,450,000 1,450,000 -
Total other financing sources (uses) 1,450,000 1,450,000 1,450,000 -
NET CHANGE IN FUND BALANCE $ (1,174,160) $ (1,566,207) (289,514) $ 1,276,693
FUND BALANCE:
Beginning of year 4,639,147
End of year $ 4,349,633
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedules (Continued)
For the Year Ended June 30, 2025
81
Regional Traffic Impact Fees Special Revenue Fund
Variance
Original Final From Final
Budget Budget Actual Budget
REVENUES:
Development fees -$ -$ 125,705$ 125,705$
Use of money and property - - 99,709 99,709
Miscellaneous 1,310 1,310 - (1,310)
Total revenues 1,310 1,310 225,414 224,104
EXPENDITURES:
Current:
Development services
Capital project management 1,705,082 1,542,852 84,110 1,458,742
Total development services 1,705,082 1,542,852 84,110 1,458,742
Administrative services
Finance 11,437 11,437 2,128 9,309
Total administrative services 11,437 11,437 2,128 9,309
Total expenditures 1,716,519 1,554,289 86,238 1,468,051
NET CHANGE IN FUND BALANCE (1,715,209)$ (1,552,979)$ 139,176 1,692,155$
FUND BALANCE:
Beginning of year 4,512,160
End of year 4,651,336$
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Budgetary Comparison Schedules (Continued)
For the Year Ended June 30, 2025
82
American Rescue Plan Act Special Revenue Fund
Variance
Original Final From Final
Budget Budget Actual Budget
REVENUES:
Intergovernmental -$ -$ 3,798,968$ 3,798,968$
Total revenues - - 3,798,968 3,798,968
EXPENDITURES:
Current:
Development services
Capital project management - - 3,029,926 (3,029,926)
Total development services - - 3,029,926 (3,029,926)
Capital outlay - - 769,042 (769,042)
Total expenditures - - 3,798,968 (3,798,968)
NET CHANGE IN FUND BALANCE -$ -$ - -$
FUND BALANCE (DEFICIT):
Beginning of year (218,086)
End of year (218,086)$
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Town of Danville
Required Supplementary Information (Unaudited) (Continued)
Modified Approach for Town Street Infrastructure Assets
For the Year Ended June 30, 2025
83
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 April 2024, 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 September 2023. 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)
Modified Approach for Town Street Infrastructure Assets (Continued)
For the Year Ended June 30, 2025
84
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, 2025, the Town’s street system was rated at a PCI index of 80 on the average with the detail condition as
follows:
Street Condition % of Streets
Very Good (PCI 70-100)84%
Good (PCI 50-69)12%
Poor (PCI 26-49)3%
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 $3,140,991 of the General Fund monies
on street maintenance for the fiscal year ended June 30, 2025. 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 2025 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
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
2023-24 5,086,541 3,720,080 4,138,251 7,858,331 78
2024-25 995,000 3,140,991 13,388,513 16,529,504 80
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, 2025, approximately 16% 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 $20,000,000 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 receives ad-hoc contributions from the General Fund and other sources 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 $ 111,952 $ 4,056,657 $ 8,139,707 $ 3,072,845 $ 372,875
Cash and investments with fiscal agent - - - - -
Receivables (net of allowances):
Accounts 12,740 125,370 300 - -
Interest 554 22,761 - - 2,112
Total assets $ 125,246 $ 4,204,788 $ 8,140,007 $ 3,072,845 $ 374,987
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 4,443 80,869 8,185 22,818 58
Accrued wages - 18,858 44,673 5,948 -
Retention payable 7,043 160,137 - - -
Deposits payable - - - 42,670 -
Unearned revenue - 30,120 11,940 - -
Total liabilities 11,486 289,984 64,798 71,436 58
Fund Balances:
Restricted 113,760 3,914,804 8,075,209 3,001,409 374,929
Committed - - - - -
Total fund balances 113,760 3,914,804 8,075,209 3,001,409 374,929
Total liabilities and fund balances $ 125,246 $ 4,204,788 $ 8,140,007 $ 3,072,845 $ 374,987
(Continued)
Town of Danville
Non-Major Governmental Funds
Combining Balance Sheet
June 30, 2025
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 $ 2,060,361 $ (235,133) $ 318,256 $ 3,007,176 $ 653,340
Cash and investments with fiscal agent - - - - -
Receivables (net of allowances):
Accounts 97,927 1,075,964 - - 4,563
Interest 11,197 (2,606) 1,816 15,864 4,738
Total assets $ 2,169,485 $ 838,225 $ 320,072 $ 3,023,040 $ 662,641
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 41,076 63,739 53 464 100
Accrued wages 5,163 3,316 - - -
Retention payable - 181,971 - 24,984 -
Deposits payable - - - - -
Unearned revenue - - - - -
Total liabilities 46,239 249,026 53 25,448 100
Fund Balances:
Restricted 2,123,246 589,199 320,019 2,997,592 662,541
Committed - - - - -
Total fund balances 2,123,246 589,199 320,019 2,997,592 662,541
Total liabilities and fund balances $ 2,169,485 $ 838,225 $ 320,072 $ 3,023,040 $ 662,641
(Continued)
Town of Danville
Non-Major Governmental Funds
Combining Balance Sheet (Continued)
June 30, 2025
Special Revenue
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 $ 690,966 $ 1,824,272 $ 2,103,388 $ 4,169,640 $ 818,856
Cash and investments with fiscal agent - - - - -
Receivables (net of allowances):
Accounts - - - - -
Interest 3,835 - 12,958 22,122 3,703
Total assets $ 694,801 $ 1,824,272 $ 2,116,346 $ 4,191,762 $ 822,559
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 105 1,050 346 8,316 22,516
Accrued wages - - - - -
Retention payable - 158,653 - - -
Deposits payable - - - - -
Unearned revenue - - - - -
Total liabilities 105 159,703 346 8,316 22,516
Fund Balances:
Restricted 694,696 1,664,569 2,116,000 - -
Committed - - - 4,183,446 800,043
Total fund balances 694,696 1,664,569 2,116,000 4,183,446 800,043
Total liabilities and fund balances $ 694,801 $ 1,824,272 $ 2,116,346 $ 4,191,762 $ 822,559
(Continued)
Town of Danville
Non-Major Governmental Funds
Combining Balance Sheet (Continued)
June 30, 2025
Special Revenue Capital Projects
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 $ 365,276 $ 2,331,049 $ 215,923 $ 21,645 $ 17,368
Cash and investments with fiscal agent - - 956,814 - -
Receivables (net of allowances):
Accounts - - - - -
Interest 2,297 11,971 9,525 124 56
Total assets $ 367,573 $ 2,343,020 $ 1,182,262 $ 21,769 $ 17,424
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 64 40,724 87,725 - -
Accrued wages - - - - -
Retention payable 180 - - - -
Deposits payable - - - - -
Unearned revenue - - - - -
Total liabilities 244 40,724 87,725 - -
Fund Balances:
Restricted - - - - -
Committed 367,329 2,302,296 1,094,537 21,769 17,424
Total fund balances 367,329 2,302,296 1,094,537 21,769 17,424
Total liabilities and fund balances $ 367,573 $ 2,343,020 $ 1,182,262 $ 21,769 $ 17,424
(Continued)
Capital Projects
Town of Danville
Non-Major Governmental Funds
Combining Balance Sheet (Continued)
June 30, 2025
94
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Capital Projects
Total
Non-Major
Technology Governmental
Fund Funds
ASSETS
Cash and investments $ 168,780 $ 34,285,199
Cash and investments with fiscal agent - 956,814
Receivables (net of allowances):
Accounts - 1,316,864
Interest - 123,027
Total assets $ 168,780 $ 36,681,904
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable - 382,651
Accrued wages - 77,958
Retention payable - 532,968
Deposits payable - 42,670
Unearned revenue - 42,060
Total liabilities - 1,078,307
Fund Balances:
Restricted - 26,647,973
Committed 168,780 8,955,624
Total fund balances 168,780 35,603,597
Total liabilities and fund balances $ 168,780 $ 36,681,904
(Concluded)
Town of Danville
Non-Major Governmental Funds
Combining Balance Sheet (Continued)
June 30, 2025
95
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Building/ Development
PEG Gas Tax Planning Engineering Child Care
REVENUES:
Special assessments -$ -$ -$ -$ -$
Other taxes 53,662 2,401,204 - - -
Charges for services - - 576,262 513,594 -
License and permits - - 5,232 - -
Development fees - - 2,560,531 7,664 14,086
Intergovernmental - - 6,011 - -
Use of money and property 6,024 158,757 - - 11,129
Miscellaneous - 5,610 - - -
Total revenues 59,686 2,565,571 3,148,036 521,258 25,215
EXPENDITURES:
Current:
General government 39,620 - - - -
Police services - - - - -
Maintenance services - 949,448 - - -
Development services - 3,547,588 2,030,275 433,926 39,500
Administrative services 153 6,599 - - 846
Recreation, arts & community services - - - - -
Capital outlay 159,155 - - - -
Total expenditures 198,928 4,503,635 2,030,275 433,926 40,346
REVENUES OVER (UNDER) EXPENDITURES (139,242) (1,938,064) 1,117,761 87,332 (15,131)
OTHER FINANCING SOURCES (USES):
Transfers in - - - - -
Transfers out (50,000) - (50,000) - -
Total other financing sources (uses)(50,000) - (50,000) - -
NET CHANGE IN FUND BALANCES (189,242) (1,938,064) 1,067,761 87,332 (15,131)
FUND BALANCES:
Beginning of year 303,002 5,852,868 7,007,448 2,914,077 390,060
End of year 113,760$ 3,914,804$ 8,075,209$ 3,001,409$ 374,929$
(Continued)
Town of Danville
Non-Major Governmental Funds
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances
For the Year Ended June 30, 2025
Special Revenue
96
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Stormwater
Pollution Donation General
Control Measure and Development Public
Program C/J Contributions Impact Fees Safety
REVENUES:
Special assessments 579,153$ -$ -$ -$ -$
Other taxes - - - - -
Charges for services 2,406 - - - -
License and permits - - - - -
Development fees - - - 517,459 -
Intergovernmental 10,944 638,793 - - 213,120
Use of money and property 59,502 53,434 9,028 92,910 22,562
Miscellaneous - 6,667 13,336 20,438 -
Total revenues 652,005 698,894 22,364 630,807 235,682
EXPENDITURES:
Current:
General government - - 500 - -
Police services - - - - 227,991
Maintenance services 377,522 - - 45,878 -
Development services 324,913 1,631,758 - 521,760 -
Administrative services 1,264 1,412 195 1,903 483
Recreation, arts & community services - - - 79,629 -
Capital outlay - 1,830,938 - - -
Total expenditures 703,699 3,464,108 695 649,170 228,474
REVENUES OVER (UNDER) EXPENDITURES (51,694) (2,765,214) 21,669 (18,363) 7,208
OTHER FINANCING SOURCES (USES):
Transfers in - - - - -
Transfers out - - - - -
Total other financing sources (uses)- - - - -
NET CHANGE IN FUND BALANCES (51,694) (2,765,214) 21,669 (18,363) 7,208
FUND BALANCES:
Beginning of year 2,174,940 3,354,413 298,350 3,015,955 655,333
End of year 2,123,246$ 589,199$ 320,019$ 2,997,592$ 662,541$
(Continued)
Town of Danville
Non-Major Governmental Funds
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued)
For the Year Ended June 30, 2025
Special Revenue
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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 - 1,077,562 - - -
Charges for services - - - - -
License and permits - - - - -
Development fees 40,943 - - - -
Intergovernmental - - - 76,272 -
Use of money and property 18,940 - 63,706 142,009 21,869
Miscellaneous - - 110,800 - -
Total revenues 59,883 1,077,562 174,506 218,281 21,869
EXPENDITURES:
Current:
General government - - - - -
Police services - - - 264,482 412
Maintenance services - - - - -
Development services - 3,218,775 - - -
Administrative services 403 - 19,992 - -
Recreation, arts & community services - - - - -
Capital outlay - - - - 33,906
Total expenditures 403 3,218,775 19,992 264,482 34,318
REVENUES OVER (UNDER) EXPENDITURES 59,480 (2,141,213) 154,514 (46,201) (12,449)
OTHER FINANCING SOURCES (USES):
Transfers in - - - 1,150,000 -
Transfers out - - - - -
Total other financing sources (uses)- - - 1,150,000 -
NET CHANGE IN FUND BALANCES 59,480 (2,141,213) 154,514 1,103,799 (12,449)
FUND BALANCES:
Beginning of year 635,216 3,805,782 1,961,486 3,079,647 812,492
End of year 694,696$ 1,664,569$ 2,116,000$ 4,183,446$ 800,043$
(Continued)
Town of Danville
Non-Major Governmental Funds
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued)
For the Year Ended June 30, 2025
Special Revenue Capital Projects
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 - - - - -
Use of money and property 13,296 62,478 36,559 626 281
Miscellaneous - - - - -
Total revenues 13,296 62,478 36,559 626 281
EXPENDITURES:
Current:
General government - - - - -
Police services 249 1,177 5,768 2 11
Maintenance services (108,170) 1,486 - - -
Development services - - - - -
Administrative services - - - - -
Recreation, arts & community services 19,800 - - - -
Capital outlay 130,345 214,372 96,563 - -
Total expenditures 42,224 217,035 102,331 2 11
REVENUES OVER (UNDER) EXPENDITURES (28,928) (154,557) (65,772) 624 270
OTHER FINANCING SOURCES (USES):
Transfers in 27,000 20,000 - - -
Transfers out - - - - -
Total other financing sources (uses)27,000 20,000 - - -
NET CHANGE IN FUND BALANCES (1,928) (134,557) (65,772) 624 270
FUND BALANCES:
Beginning of year 369,257 2,436,853 1,160,309 21,145 17,154
End of year 367,329$ 2,302,296$ 1,094,537$ 21,769$ 17,424$
(Continued)
Town of Danville
Non-Major Governmental Funds
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued)
For the Year Ended June 30, 2025
Capital Projects
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Non-Major
Technology Governmental
Fund Funds
REVENUES:
Special assessments -$ 579,153$
Other taxes - 3,532,428
Charges for services - 1,092,262
License and permits - 5,232
Development fees - 3,140,683
Intergovernmental - 945,140
Use of money and property - 773,110
Miscellaneous - 156,851
Total revenues - 10,224,859
EXPENDITURES:
Current:
General government - 40,120
Police services - 500,092
Maintenance services - 1,266,164
Development services - 11,748,495
Administrative services - 33,250
Recreation, arts & community services - 99,429
Capital outlay - 2,465,279
Total expenditures - 16,152,829
REVENUES OVER (UNDER) EXPENDITURES - (5,927,970)
OTHER FINANCING SOURCES (USES):
Transfers in - 1,197,000
Transfers out - (100,000)
Total other financing sources (uses)- 1,097,000
NET CHANGE IN FUND BALANCES - (4,830,970)
FUND BALANCES:
Beginning of year 168,780 40,434,567
End of year 168,780$ 35,603,597$
(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, 2025
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Original Final Actual Final Budget
REVENUES:
Other taxes 82,000$ 82,000$ 53,662$ (28,338)$
Use of money and property - - 6,024 6,024
Total revenues 82,000 82,000 59,686 (22,314)
EXPENDITURES:
Current:
General government
City Clerk 30,490 40,490 39,620 870
Total general government 30,490 40,490 39,620 870
Administrative services
Finance 558 558 153 405
Total administrative services 558 558 153 405
Capital outlay 280,056 252,297 159,155 93,142
Total expenditures 311,104 293,345 198,928 94,417
REVENUES OVER (UNDER) EXPENDITURES (229,104) (211,345) (139,242) 72,103
OTHER FINANCING SOURCES (USES):
Transfers out - - (50,000) (50,000)
Total other financing sources (uses)- - (50,000) (50,000)
NET CHANGE IN FUND BALANCE (229,104)$ (211,345)$ (189,242) 22,103$
FUND BALANCE:
Beginning of year 303,002
End of year 113,760$
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, 2025
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Original Final Actual Final Budget
REVENUES:
Other taxes 1,881,051$ 1,887,718$ 2,401,204$ 513,486$
Use of money and property 14,828 14,828 158,757 143,929
Miscellaneous - - 5,610 5,610
Total revenues 1,895,879 1,902,546 2,565,571 663,025
EXPENDITURES:
Current:
Maintenance services
Street maintenance 730,937 738,311 696,600 41,711
Traffic signal maintenance 241,500 273,800 252,848 20,952
Total maintenance services 972,437 1,012,111 949,448 62,663
Development services
Management 73,491 73,491 69,114 4,377
Capital project management 2,860,251 3,565,251 3,212,652 352,599
Transportation 403,810 430,389 265,822 164,567
Total development services 3,337,552 4,069,131 3,547,588 521,543
Administrative services
Finance 5,350 5,350 6,599 (1,249)
Total administrative services 5,350 5,350 6,599 (1,249)
Total expenditures 4,315,339 5,086,592 4,503,635 582,957
NET CHANGE IN FUND BALANCE (2,419,460)$ (3,184,046)$ (1,938,064) 1,245,982$
FUND BALANCE:
Beginning of year 5,852,868
End of year 3,914,804$
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, 2025
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Original Final Actual Final Budget
REVENUES:
Charges for services 341,200$ 341,200$ 576,262$ 235,062$
Licenses and permits - - 5,232 5,232
Development fees 2,235,000 2,235,000 2,560,531 325,531
Intergovernmental 177,000 177,000 6,011 (170,989)
Total revenues 2,753,200 2,753,200 3,148,036 394,836
EXPENDITURES:
Current:
Development services
Management 291,844 291,844 287,192 4,652
Planning 512,474 875,818 434,829 440,989
Building 1,415,608 1,671,493 1,203,234 468,259
Code enforcement 132,884 132,884 105,020 27,864
Total development services 2,352,810 2,972,039 2,030,275 941,764
Total expenditures 2,352,810 2,972,039 2,030,275 941,764
REVENUES OVER (UNDER) EXPENDITURES 400,390 (218,839) 1,117,761 1,336,600
OTHER FINANCING (USES)
Transfers out - - (50,000) (50,000)
Total other financing (uses)- - (50,000) (50,000)
NET CHANGE IN FUND BALANCE 400,390$ (218,839)$ 1,067,761 1,286,600$
FUND BALANCE:
Beginning of year 7,007,448
End of year 8,075,209$
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, 2025
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Original Final Actual Final Budget
REVENUES:
Charges for services 301,705$ 301,705$ 513,594$ 211,889$
Development fees 500 500 7,664 7,164
Total revenues 302,205 302,205 521,258 219,053
EXPENDITURES:
Current:
Development services
Engineering 476,765 476,765 433,926 42,839
Total development services 476,765 476,765 433,926 42,839
Total expenditures 476,765 476,765 433,926 42,839
NET CHANGE IN FUND BALANCE (174,560)$ (174,560)$ 87,332 261,892$
FUND BALANCE:
Beginning of year 2,914,077
End of year 3,001,409$
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, 2025
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Original Final Actual Final Budget
REVENUES
Development fees -$ -$ 14,086$ 14,086$
Use of money and property 1,200 1,200 11,129 9,929
Total revenues 1,200 1,200 25,215 24,015
EXPENDITURES
Current:
Development services
Engineering 474,340 474,340 39,500 434,840
Total development services 474,340 474,340 39,500 434,840
Administrative services
Management - 600 846 (246)
Finance 224 224 - 224
Total administrative services 224 824 846 (22)
Total expenditures 224 824 40,346 (22)
REVENUES OVER (UNDER) EXPENDITURES 976 376 (15,131) 23,993
NET CHANGE IN FUND BALANCE 976$ 376$ (15,131) 23,993$
FUND BALANCE:
Beginning of year 390,060
End of year 374,929$
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, 2025
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Original Final Actual Final Budget
REVENUES:
Special assessments 567,786$ 567,786$ 579,153$ 11,367$
Charges for services 1,010 1,010 2,406 1,396
Intergovernmental 34,288 44,185 10,944 (33,241)
Use of money and property 9,536 9,536 59,502 49,966
Total revenues 612,620 622,517 652,005 29,488
EXPENDITURES:
Current:
Maintenance services
Steet maintenance 434,542 434,542 377,522 57,020
Total maintenance services 434,542 434,542 377,522 57,020
Development services
Capital project management (9,005) 18,180 13,386 4,794
Clean water program 318,097 318,097 311,527 6,570
Total development services 309,092 336,277 324,913 11,364
Administrative services
Finance 1,492 1,492 1,264 228
Total administrative services 1,492 1,492 1,264 228
Total expenditures 745,126 772,311 703,699 68,612
NET CHANGE IN FUND BALANCE (132,506)$ (149,794)$ (51,694) 98,100$
FUND BALANCE:
Beginning of year 2,174,940
End of year 2,123,246$
Budgeted
Town of Danville
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Stormwater Pollution Control Program Special Revenue Fund
For the Year Ended June 30, 2025
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Original Final Actual Final Budget
REVENUES:
Intergovernmental 41,000$ 33,000$ 638,793$ 605,793$
Use of money and property 10,139 10,139 53,434 43,295
Miscellaneous 8,000 6,667 6,667 -
Total revenues 59,139 49,806 698,894 649,088
EXPENDITURES:
Current:
Development services
Management 73,491 73,491 69,201 4,290
Capital project management 10,229,436 10,640,997 1,446,240 9,194,757
Transportation 222,423 229,089 116,317 112,772
Total development services 10,525,350 10,943,577 1,631,758 9,311,819
Administrative services
Finance 1,637 1,637 1,412 225
Administrative services 1,637 1,637 1,412 225
Capital outlay - - 1,830,938 (1,830,938)
Total expenditures 10,526,987 10,945,214 3,464,108 7,481,106
NET CHANGE IN FUND BALANCE (10,467,848)$ (10,895,408)$ (2,765,214) 8,130,194$
FUND BALANCE:
Beginning of year 3,354,413
End of year 589,199$
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, 2025
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REVENUES:
Use of money and property 974$ 974$ 9,028$ 8,054$
Miscellaneous 3,760 13,760 13,336 (424)
Total revenues 4,734 14,734 22,364 7,630
EXPENDITURES:
Current:
General government
Town Council 500 500 500 -
Total general government 500 500 500 -
Police services
Patrol - 26,041 - 26,041
Total police services - 26,041 - 26,041
Administrative services
Finance - - 195 (195)
Total administrative services - - 195 (195)
Recreation, arts & community services
Culture arts 2,000 2,000 - 2,000
Total recreation, arts & community services 2,000 2,000 - 2,000
Total expenditures 2,500 28,541 695 27,846
NET CHANGE IN FUND BALANCE 2,234$ (13,807)$ 21,669 35,476$
FUND BALANCE:
Beginning of year 298,350
End of year 320,019$
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, 2025
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Original Final Actual Final Budget
REVENUES:
Development fees 182,319$ 204,819$ 517,459$ 312,640$
Use of money and property - - 92,910 92,910
Miscellaneous - - 20,438 20,438
Total revenues 182,319 204,819 630,807 425,988
EXPENDITURES:
Current:
Maintenance services
Capital project management 614,138 913,125 25,438 887,687
Park maintenance - - 20,440 (20,440)
Total maintenance services 614,138 913,125 45,878 867,247
Development services
Capital project management 1,600,462 1,754,962 521,760 1,233,202
Total development services 1,600,462 1,754,962 521,760 1,233,202
Administrative services
Finance 3,666 3,666 1,903 1,763
Total administrative services 3,666 3,666 1,903 1,763
Recreation, arts & community services
Recreation management - - 79,629 (79,629)
Total recreation, arts & community services - - 79,629 (79,629)
Total expenditures 2,218,266 2,671,753 649,170 2,022,583
NET CHANGE IN FUND BALANCE (2,035,947)$ (2,466,934)$ (18,363) 2,448,571$
FUND BALANCE:
Beginning of year 3,015,955
End of year 2,997,592$
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, 2025
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Original Final Actual Final Budget
REVENUES:
Intergovernmental 123,000$ 123,000$ 213,120$ 90,120$
Use of money and property 1,246 1,246 22,562 21,316
Total revenues 124,246 124,246 235,682 111,436
EXPENDITURES:
Current:
Police services
Youth services 229,748 229,748 227,991 1,757
Total police services 229,748 229,748 227,991 1,757
Administrative services
Finance 312 312 483 (171)
Total administrative services 312 312 483 (171)
Total expenditures 230,060 230,060 228,474 1,586
NET CHANGE IN FUND BALANCE (105,814)$ (105,814)$ 7,208 113,022$
FUND BALANCE:
Beginning of year 655,333
End of year 662,541$
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, 2025
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Original Final Actual Final Budget
REVENUES:
Development fees -$ -$ 40,943$ 40,943$
Use of money and property - - 18,940 18,940
Total revenues - - 59,883 59,883
EXPENDITURES:
Current:
Administrative services
Finance 563 563 403 160
Total administrative services 563 563 403 160
Total expenditures 563 563 403 160
NET CHANGE IN FUND BALANCE (563)$ (563)$ 59,480 60,043$
FUND BALANCE:
Beginning of year 635,216
End of year 694,696$
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, 2025
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Original Final Actual Final Budget
REVENUES:
Other taxes 925,376$ 925,376$ 1,077,562$ 152,186$
Total revenues 925,376 925,376 1,077,562 152,186
EXPENDITURES:
Current:
Development services
Capital project management 3,419,852 4,319,852 3,218,775 1,101,077
Total development services 3,419,852 4,319,852 3,218,775 1,101,077
Total expenditures 3,419,852 4,319,852 3,218,775 1,101,077
NET CHANGE IN FUND BALANCE (2,494,476)$ (3,394,476)$ (2,141,213) 1,253,263$
FUND BALANCE:
Beginning of year 3,805,782
End of year 1,664,569$
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, 2025
112
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Original Final Actual Final Budget
REVENUES:
Use of money and property -$ -$ 63,706$ 63,706$
Miscellaneous - - 110,800 110,800
Total revenues - - 174,506 174,506
EXPENDITURES:
Current:
Administrative services
Finance 2,800 28,773 19,992 8,781
Total administrative services 2,800 28,773 19,992 8,781
Total expenditures 2,800 28,773 19,992 8,781
NET CHANGE IN FUND BALANCE (2,800)$ (28,773)$ 154,514 183,287$
FUND BALANCE:
Beginning of year 1,961,486
End of year 2,116,000$
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, 2025
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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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2016 2017 2018 2019 2020
Governmental Activities:
Net investment in capital assets 154,909,051$ 155,792,439$ 162,998,663$ 166,215,901$ 174,968,722$
Restricted 26,812,236 24,437,153 23,784,733 24,398,492 26,961,172
Unrestricted 68,822,679 72,257,190 64,907,258 65,271,882 61,659,221
Total Governmental Activities Net Position 250,543,966$ 252,486,782$ 251,690,654$ 255,886,275$ 263,589,115$
Primary Government:
Net investment in capital assets 154,909,051$ 155,792,439$ 162,998,663$ 166,215,901$ 174,968,722$
Restricted 26,812,236 24,437,153 23,784,733 24,398,492 26,961,172
Unrestricted 68,822,679 72,257,190 64,907,258 65,271,882 61,659,221
Total Primary Governmental Net Position 248,532,815$ 252,486,782$ 251,690,654$ 251,690,654$ 263,589,115$
Source: Town Audited Financial Statements
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
Last Ten Fiscal Years
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2021 2022 2023 2024 2025
Governmental Activities:
Net investment in capital assets 177,508,851$ 189,012,026$ 188,179,513$ 188,179,513$ 187,755,279$
Restricted 29,438,411 - 40,184,242 40,184,242 35,279,328
Unrestricted 65,882,561 (1,360,455) 71,129,258 71,129,258 78,484,821
Total Governmental Activities Net Position 272,829,823$ 187,651,571$ 299,493,013$ 299,493,013$ 301,519,428$
Primary Government:
Net investment in capital assets 177,508,851$ 189,012,026$ 188,179,513$ 188,179,513$ 187,755,279$
Restricted 29,438,411 - 40,184,242 40,184,242 35,279,328
Unrestricted 65,882,561 (1,360,455) 71,129,258 71,129,258 78,484,821
Total Primary Governmental Net Position 272,829,823$ 187,651,571$ 299,493,013$ 299,493,013$ 301,519,428$
Source: Town Audited Financial Statements
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
-50
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150
200
250
2016 2017 2018 2019 20202021 2022 2023 2024 2025
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Net Position by Component
Net investment in capital assets Restricted Unrestricted
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Expenses:
Governmental activities:
General Government 1,592,763$ 1,658,023$ 1,821,906$ 1,648,107$ 1,988,737$
Police Services 8,914,297 9,107,939 9,668,148 9,908,945 9,824,261
Maintenance Services & Lighting & Landscape 8,262,373 7,963,358 7,824,106 8,512,749 9,400,476
Development Services 5,233,296 8,568,817 12,113,185 12,589,561 5,769,904
Administrative Services 4,080,262 3,690,675 3,511,181 3,625,899 3,816,145
Recreation Services 3,847,434 4,129,417 4,016,368 4,273,896 3,794,136
Interest on long-term debt 364,866 345,931 345,473 325,210 325,210
Total governmental activities expenses 32,295,291 35,464,160 39,300,367 40,884,367 34,916,610
Total primary government expenses 32,295,291$ 35,464,160$ 39,300,367$ 40,884,367$ 34,916,610$
Program Revenues:
Governmental Activities:
Charges for Services:
General Government 10$ 30$ 30$ 1,126$ -$
Police Services 424,470 314,597 295,805 308,210 296,126
Maintenance Services, Lighting & Landscape 3,036,737 3,142,080 3,060,686 3,046,475 3,059,330
Development Services 4,285,454 3,575,751 3,792,303 4,473,140 3,374,462
Administrative Services 35,186 36,308 36,400 38,126 31,693
Recreation, Arts & Community Services 2,079,801 2,196,610 2,058,014 2,041,182 1,427,112
Operating grants and contributions 950,437 911,003 1,205,123 2,132,610 1,873,835
Capital grants and contributions 1,276,567 2,591,351 2,521,475 3,880,922 1,358,781
Total governmental activities program revenues 12,088,662$ 12,767,730$ 12,969,836$ 15,921,791$ 11,421,339$
Total primary government program revenues 12,088,662$ 12,767,730$ 12,969,836$ 15,921,791$ 11,421,339$
Net (Expense)/Revenue
Governmental activities (20,206,629)$ (22,696,430)$ (22,696,430)$ (24,962,576)$ (23,495,271)$
Total Primary Government, Net Expenses (20,206,629)$ (22,696,430)$ (22,696,430)$ (24,962,576)$ (23,495,271)$
Source: Town Audited Financial Statements
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
Last Ten Fiscal Years
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2021 2022 2023 2024 2025
Expenses:
Governmental activities:
General Government 1,727,404$ 2,773,284$ 2,999,255$ 2,432,702$ 2,827,351$
Police Services 9,141,598 9,972,541 10,594,467 11,971,294 11,921,599
Maintenance Services & Lighting & Landscape 8,999,904 8,990,730 11,973,823 10,525,094 11,715,263
Development Services 6,231,119 7,246,100 6,931,034 15,427,297 20,085,162
Administrative Services 3,632,890 3,558,462 3,798,969 4,468,171 5,024,036
Recreation Services 2,722,675 3,137,966 4,096,414 4,359,029 4,657,216
Interest on long-term debt 282,675 256,521 234,055 204,389 179,118
Total governmental activities expenses 32,738,265 35,935,604 40,628,017 49,387,976 56,409,745
Total primary government expenses 32,738,265$ 35,935,604$ 40,628,017$ 49,387,976$ 56,409,745$
Program Revenues
Governmental Activities:
Charges for Services:
General Government -$ 10$ 15,923$ 23,184$ 1,015$
Police Services 187,548 179,616 173,594 189,558 310,255
Maintenance Services, Lighting & Landscape 3,047,952 3,050,308 3,611,916 3,641,347 3,643,936
Development Services 3,738,947 4,471,835 4,386,782 4,484,293 4,358,350
Administrative Services 28,145 570,388 297,553 297,553 297,553
Recreation, Arts & Community Services 846,805 1,378,764 1,719,893 1,875,843 1,989,086
Operating grants and contributions 2,271,372 3,445,191 2,367,059 3,876,515 2,869,273
Capital grants and contributions 2,169,054 1,542,184 5,050,477 3,759,810 5,657,909
Total governmental activities program revenues 12,289,823$ 14,638,296$ 17,623,197$ 18,148,103$ 19,127,377$
Total primary government program revenues 12,289,823$ 14,638,296$ 17,623,197$ 18,148,103$ 19,127,377$
Net (Expense)/Revenue
Governmental activities (20,448,442)$ (21,297,308)$ (23,004,820)$ (31,239,873)$ (37,282,368)$
Total Primary Government, Net Expenses (20,448,442)$ (21,297,308)$ (23,004,820)$ (31,239,873)$ (37,282,368)$
Source: Town Audited Financial Statements
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 14,153,561$ 13,978,818$ 14,629,253$ 15,354,728$ 16,025,356$
Sales taxes 4,569,470 5,546,298 5,914,835 6,126,449 5,753,805
Motor Vehicle taxes 17,629 19,203 22,821 21,310 35,829
Franchise Taxes 2,299,491 2,419,118 2,588,989 2,609,820 2,836,124
Other taxes 404,744 371,237 362,196 390,562 367,376
Investment earnings 1,265,876 296,610 368,995 3,028,554 3,183,434
Miscellaneous 741,674 1,235,646 854,998 834,318 1,838,208
Gain (loss) on sale of capital assets - - - - 345,523
Transfers from Successor Agency 780,818 772,316 792,316 792,456 812,456
Special item 3,195,604 - - - -
Total governmental activities 27,428,867$ 24,639,246$ 25,534,403$ 29,158,197$ 31,198,111$
Total primary government 27,428,867$ 24,639,246$ 25,534,403$ 29,158,197$ 31,198,111$
Change in Net Position
Governmental activities 4,732,437$ 1,942,816$ (7,796,128)$ 4,195,621$ 7,702,840$
Total primary government 4,732,437$ 1,942,816$ (7,796,128)$ 4,195,621$ 7,702,840$
Source: Town Audited Financial Statements
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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2021 2022 2023 2024 2025
General Revenues and Other
Changes in Net Position
Governmental Activities
Taxes
Property taxes 17,210,607$ 18,033,848$ 18,937,827$ 19,905,678$ 20,765,297$
Sales taxes 6,653,905 7,443,450 7,467,848 6,799,187 6,932,759
Motor Vehicle taxes 32,180 50,723 44,757 53,934 68,850
Franchise Taxes 3,044,834 3,252,012 3,383,163 3,502,709 2,648,941
Other Taxes 338,449 340,497 341,405 360,676 343,114
Investment earnings 174,503 (2,626,475) 998,731 5,392,910 6,483,704
Miscellaneous 1,447,189 563,904 2,501,924 2,879,111 1,584,448
Gain (loss) on sale of capital assets (1,568) - - - -
Transfers from Successor Agency 789,051 785,175 825,175 867,219 859,018
Special item - - - - -
Total governmental activities 29,689,150$ 27,843,134$ 34,500,830$ 39,761,424$ 39,686,131$
Total primary government 29,689,150$ 27,843,134$ 34,500,830$ 39,761,424$ 39,686,131$
Change in Net Position
Governmental activities 9,240,708$ 6,545,826$ 11,496,010$ 8,521,551$ 2,403,763$
Total primary government 9,240,708$ 6,545,826$ 11,496,010$ 8,521,551$ 2,403,763$
Source: Town Audited Financial Statements
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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2016 2017 2018 2019 2020
General Fund
Nonspendable 10,427,986$ 9,427,986$ 8,427,986$ 7,325,019$ 5,167,108$
Restricted 809,504 809,820 813,965 820,547 815,484
Committed 18,374,622 17,249,253 17,868,716 19,005,310 20,401,468
Assigned 344,844 313,036 169,060 117,735 190,888
Unassigned - - - - -
Total General Fund 29,956,956 27,800,095 27,279,727 27,268,611 26,574,948
All Other Governmental Funds
Special revenue funds
Restricted 26,129,555 23,594,077 22,970,768 23,577,945 26,145,688
Assigned - - - 2,469,321 2,617,844
Committed 38,430,064 42,743,649 36,532,398 37,060,728 34,072,908
Assigned 2,364,889 2,507,297 2,574,079 - -
Unassigned (deficit)- - - - -
Total all other Governmental Funds 66,924,508 68,845,023 62,077,245 63,107,994 62,836,440
Total Governmental Funds 96,881,464$ 96,645,118$ 89,356,972$ 90,376,605$ 89,411,388$
Source: Town Audited Financial Statements
(Modified Accrual Basis of Accounting)
Fiscal Year
Town of Danville
Fund Balances of Governmental Funds
Last Ten Fiscal Years
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2021 2022 2023 2024 2025
General Fund
Nonspendable 4,064,888$ 2,976,418$ 1,915,461$ 846,011$ 181,855$
Restricted 809,518 809,649 827,765 848,842 852,835
Committed 28,158,818 22,299,041 24,829,286 33,807,639 37,680,679
Assigned 402,500 491,770 268,150 295,266 561,266
Unassigned 1,100,000 1,100,002 1,100,000 1,100,000 659,401
Total General Fund 34,535,724 27,676,880 28,940,662 36,897,758 39,936,036
All Other Governmental Funds
Special revenue funds
Restricted 28,628,893 30,841,349 34,859,241 38,406,783 32,616,844
Assigned 2,845,856 2,621,578 3,019,810 3,113,454 3,032,098
Committed 30,013,137 35,607,373 36,955,042 33,951,008 38,311,790
Assigned - - - - -
Unassigned (deficit)- - - (218,086) (218,086)
Total all other Governmental Funds 61,487,886 69,070,300 74,834,093 75,253,159 73,742,646
Total Governmental Funds 96,023,610$ 96,747,180$ 103,774,755$ 112,150,917$ 113,678,682$
Source: Town Audited Financial Statements
(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 14,153,561$ 13,978,818$ 14,629,253$ 15,354,728$ 16,025,356$
Sales taxes 4,558,712 5,535,422 5,910,069 6,124,320 5,740,046
Special assessments 3,270,354 3,264,713 3,645,895 3,581,582 3,594,673
Gas & other taxes 3,590,353 3,554,065 3,775,380 4,310,196 4,722,089
Charges for services 2,752,180 2,859,100 2,874,896 2,867,332 2,021,562
Licenses and permits 404,744 371,237 362,196 396,710 367,376
Development fees 3,705,128 3,096,371 3,275,723 4,286,391 2,471,063
Intergovernmental 1,026,474 1,918,820 1,735,441 2,853,143 1,208,170
Fines and forfeitures 267,732 163,825 167,822 187,979 128,312
Uses of money and property 2,024,361 995,448 1,054,042 3,924,193 4,265,728
Miscellaneous 1,155,013 897,019 279,040 424,954 944,642
Reimbursement from Successor Agency - - - - 812,456
Total Revenues 36,908,612 36,634,838 37,709,757 44,311,528 42,301,473
EXPENDITURES:
Current:
General government 1,591,047 1,622,521 1,830,739 1,624,096 1,922,014
Police services 8,691,261 8,881,254 9,426,989 9,690,883 9,658,510
Maintenance services 4,381,322 3,686,266 3,339,317 3,305,068 4,411,816
Lighting and landscape 3,127,403 3,374,354 3,644,177 4,067,377 3,703,613
Development services 4,986,759 8,186,500 11,741,330 12,346,910 5,549,402
Administrative services 4,000,431 3,536,546 3,472,727 3,555,297 3,777,435
Recreation, arts & community services 3,467,371 3,693,259 3,697,618 3,920,497 3,508,153
Capital outlay 6,466,296 2,102,572 8,692,182 4,781,767 13,198,230
Debt service:
Principal - - - - 480,000
Interest and fiscal charges - - - - 332,456
Total Expenditures 36,711,890 35,083,272 45,845,079 43,291,895 46,541,629
REVENUES OVER (UNDER)
EXPENDITURES 196,722 1,551,566 (8,135,322) 1,019,633 (4,240,156)
OTHER FINANCING SOURCES (USES):
Proceeds from sale of assets - - - - 3,274,939
Transfers in 8,710,450 9,937,410 7,276,333 8,765,719 11,932,028
Transfers out (8,710,450) (9,937,410) (7,276,333) (8,765,719) (11,932,028)
Total other financing sources (uses)- - - - 3,274,939
Extraordinary/Special item*3,195,604 - - - -
NET CHANGE IN FUND BALANCES 3,392,326$ 1,551,566$ (8,135,322)$ 1,019,633$ (965,217)$
Debt service as a percentage of noncapital
expenditures 0.00%0.00%0.00%0.00%2.44%
Source: Town Audited Financial Statements
Town of Danville
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
* Extraordinary/special item in 2016 was for assets transferred from the former Community Development Agency (CDA) of the Town of Danville
subsequent to a due diligence review by the State of California subsequent to the dissolution of California Redevelopment Agencies.
Modified Accrual Basis of Accounting)
Fiscal Year
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2021 2022 2023 2024 2025
REVENUES:
Property taxes 17,210,607$ 18,033,848$ 18,937,827$ 19,905,678$ 20,765,297$
Sales taxes 6,652,729 7,442,726 7,467,848 6,799,187 6,932,759
Special assessments 3,611,436 3,610,222 3,601,630 3,630,298 3,632,269
Gas & other taxes 4,828,113 5,223,367 5,487,702 5,902,893 6,196,557
Charges for services 1,495,953 2,682,710 3,136,401 3,343,396 3,249,336
Licenses and permits 338,449 340,497 347,072 394,611 352,451
Development fees 2,941,817 2,571,419 3,243,440 3,141,447 3,266,388
Intergovernmental 1,659,443 2,980,425 5,233,454 5,275,078 5,010,017
Fines and forfeitures 86,104 76,848 105,729 144,658 157,875
Uses of money and property 1,771,567 (2,007,851) 1,897,626 6,684,393 7,766,432
Miscellaneous 587,430 731,381 1,238,293 1,815,777 (64,320)
Reimbursement from Successor Agency 789,051 785,175 825,175 867,219 859,018
Total Revenues 41,972,699 42,470,767 51,522,197 57,904,635 58,124,079
EXPENDITURES:
Current:
General government 1,732,686 2,764,179 2,983,036 2,413,686 2,811,588
Police services 9,065,799 9,909,768 10,437,966 11,668,630 11,527,662
Maintenance services 3,816,120 3,537,339 6,821,100 5,042,665 5,334,262
Lighting and landscape 3,903,054 4,181,235 3,913,128 4,306,195 4,726,540
Development services 6,065,680 6,671,315 6,692,216 10,090,876 16,257,499
Administrative services 3,606,353 3,503,165 3,678,558 4,346,711 4,892,046
Recreation, arts & community services 2,470,377 2,866,846 3,831,445 4,097,971 4,410,350
Capital outlay 3,911,357 7,542,018 6,094,256 6,694,520 5,778,561
Debt service:
Principal 500,000 520,000 615,307 651,855 674,094
Interest and fiscal charges 289,051 265,175 243,866 215,364 184,924
Total Expenditures 35,360,477 41,761,040 45,310,878 49,528,473 56,597,526
REVENUES OVER (UNDER)
EXPENDITURES 6,612,222 709,727 6,211,319 8,376,162 1,526,553
OTHER FINANCING SOURCES (USES):
Proceeds from sale of assets - 13,843 600,000 - 1,212
Transfers in 3,797,793 13,967,014 8,126,594 3,817,697 10,202,433
Transfers out (3,797,793) (13,967,014) (8,126,594) (3,817,697) (10,202,433)
Total other financing sources (uses)- 13,843 816,256 - 1,212
Extraordinary/Special item*- - - - -
NET CHANGE IN FUND BALANCES 6,612,222$ 723,570$ 7,027,575$ 8,376,162$ 1,527,765$
Debt service as a percentage of noncapital
expenditures 2.51%2.29%2.19%2.02%1.69%
Source: Town Audited Financial Statements
Town of Danville
Changes in Fund Balances of Governmental Funds (Continued)
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
Fiscal Year
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REVENUE CAPACITY
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Property Motor Business
Fiscal Property Sales Franchise Transfer Vehicle License &
Year Tax Tax Tax Tax Tax Other Taxes Total
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
2024 19,339,061 6,799,187 3,502,709 566,617 53,934 360,676 30,175,000
2025 19,595,678 6,932,759 2,648,941 1,169,619 68,850 343,114 30,758,961
Source: Town Audited Financial Statements
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
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%
2024 18,001,816,440 70,758,118 5,923,057 48,191,698 201,385,802 17,925,303,511 0.07780%
2025 18,968,303,460 66,967,402 6,822,457 45,079,807 210,738,275 18,876,434,851 0.07783%
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.
Source: County of Contra Costa
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
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%
2024 0.00000%1.00% 0.0544% 0.0134% 0.0203%0.07780%
2025 0.00000%1.00% 0.0521% 0.0148% 0.0155%0.07783%
Notes:
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.
Source: County of Contra Costa
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
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%
2024 20,531,904 100% n/a 20,531,904 100%
2025 21,362,979 100% n/a 21,362,979 100%
Notes:
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
Property Tax Levies and Collections
Town of Danville
Last Ten Fiscal Years
Collected Within the
Fiscal Year of the Levy Total Collections To Date
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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 105,148,090$ 1 0.59%
Danville Livery & Mercantile 55,662,133 2 0.31% 43,209,289$ 1 0.39%
Davidon Homes 52,203,879 3 0.29%
Danville Park Apartments LLC 44,525,600 4 0.25%
Reg8 Tassajara Crossing, LLC 44,388,187 5 0.25% 37,458,470 2 0.34%
ROIC California, LLC 38,000,000 6 0.21% 21,091,000 5 0.19%
Costco Wholesale Corporation 33,341,227 7 0.19% 23,786,990 3 0.21%
Rose Garden Associates Danville, LLC 30,651,973 8 0.17% 23,770,000 4 0.21%
Carl A and Jan A Cox Trust 23,117,130 9 0.13%
600 VENTURES LLC 21,669,777 10 0.12%
Danville Park RE LLC 18,115,082 6 0.16%
Rassier Properties Danville Medical Ctr.15,605,691 7 0.14%
Montair Associates, LLC 15,274,101 8 0.14%
JKDSQ, LLC 13,346,073 9 0.12%
Diablo Lodge, LLC 13,328,051 10 0.12%
JKDSQ, LLC
Totals 448,707,996$ 2.51% 224,984,747$ 2.02%
Notes:
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 Companies
Town of Danville
Principal Property Taxpayers
Current Year and Nine Fiscal Years Ago
2025 2016
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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
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
2024 4,110,000 74,094 4,835,949 **98.29
2025 3,510,000 - 3,510,000 **81.94
Notes:
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.
** Not available
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)
2016 -$ -$ -$ -$
2017 - - - -
2018 - - - -
2019 - - - -
2020 - - - -
2021 - - - -
2022 - - - -
2023 - - - -
2024 - - - -
2025 - - - -
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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2024-2025 Assessed Valuation:17,987,613,311$
Redevelopment Incremental Valuation 614,036,426$
Adjusted Assessed Valuation:
Total Debt Town's Share of
OVERLAPPING TAX AND ASSESSMENT DEBT:6/30/2025 % Applicable (1)Debt (6/30/2025)
Bay Area Rapid Transit District 2,391,260,000$ 1.717% 41,057,934$
Contra Costa Community College District 591,375,000 6.458% 38,223,288
San Ramon Valley Unified School District 310,930,000 27.544% 85,642,559
East Bay Regional Park District 145,930,000 2.678% 3,908,005
SUBTOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 168,831,786$
DIRECT AND OVERLAPPING GENERAL FUND DEBT:
Contra Costa County General Fund Obligations 150,845,000$ 6.414% 9,711,401$
San Ramon Valley Unified School District General Fund Obligations 10,614,704 27.348% 2,923,714
San Ramon Valley Fire Protection District - COP 46,605,000 27.497% 12,906,789
Town of Danville subscription liability 10,046 100% 10,046
Town of Danville Certificates of Participation (COP) 3,510,000 100% 3,510,000
Contra Costa Mosquito District General Fund Obligations 8,050,000 6.438% 518,259
SUBTOTAL DIRECT AND OVERLAPPING GENERAL FUND DEBT 29,580,209$
Less: Contra Costa County obligations supported from revenue funds (2,229,791)
TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT 27,350,418$
OVERLAPPING TAX INCREMENT DEBT (Successor Agency) 1,220,000$ 100% 1,220,000
TOTAL DIRECT DEBT 3,520,046$
TOTAL GROSS OVERLAPPING DEBT 196,111,949$
TOTAL NET OVERLAPPPING DEBT 193,882,158
GRAND TOTAL DIRECT AND OVERLAPPING DEBT (2) 199,631,995$
NET COMBINED TOTAL DEBT 197,402,204$
(1)
(2)
Ratios to 2023/2024 Assessed Valuation:
Total Overlapping Tax and Assessment Debt 0.94%
Total Direct Debt ($5,235,000)0.02%
Gross Combined Total Debt 1.11%
Net Combined Total Debt 1.10%
Ratios to Redevelopment Successor Agency Incremental Valuation ($557,378,782):
Total Overlapping Tax Increment Debt 0.20%
Source: California Municipal Statistics, Inc.
Note: This schedule presents fiscal capacity and debt for overlapping governments. It is intended to demonstrate the total property tax burden on
the taxpayers within Danville and the total debt that their property taxes will be expected to pay. This schedule excludes tax and revenue
anticipation notes, revenue bonds, mortgage revenue bonds, tax allocation bonds, obligations, lease and subscription obligations.
Town of Danville
Direct and Overlapping Governmental Activities Debt
Current Year
The percentage of overlapping debt applicable to the Town is estimated using taxable assessed property value. Applicable percentages were
estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the Town divided by the
district's total taxable assessed value.
Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue, and non-bonded lease and subscription obligations.
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2016 2017 2018 2019 2020
Debt Limit 418,385,065$ 443,452,765$ 465,663,742$ 489,520,363$ 515,538,025$
Total net debt
applicable to limit - - - - -
Legal debt margin 418,385,065$ 443,452,765$ 465,663,742$ 489,520,363$ 515,538,025$
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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2021 2022 2023 2024 2025
Debt Limit 563,209,695$ 606,625,534$ 642,952,636$ 672,198,882$ 707,866,307$
Total net debt
applicable to limit - - - - -
Legal debt margin 515,538,025$ 606,625,534$ 642,952,636$ 672,198,882$ 707,866,307$
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 18,876,464,851$
Add back: exempt real property 210,738,275
Total assessed value 19,087,203,126$
Debt Limit (3.75% of assessed value) 707,866,307$
Total net debt applicable to limit -
Legal Debt Margin 707,866,307$
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 2025
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 Coverage Increment Principal Interest Coverage
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 -
2024 - 580,000 215,364 - - 230,000 134,725 -
2025 - 600,000 184,625 - - 250,000 114,325 -
Source: Town Audited Financial Statements
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
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%
2024 42,567 ******** 29,680 4.1%
2025 42,960 ******** 28,615 5.1%
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 265 1 33.9%435 1 47.1%
Bay Club Crow Canyon 94 2 12.0%
Face Reality Acne Clinic 67 3 8.6%47 7 5.1%
Brookdale Danville Diablo Road 66 4 8.4%58 5 6.3%
Sunrise Assisted Living Of Danville 66 5 8.4%
Danville Post Acute Rehabilitation 57 6 7.3%
Lunardi's Market 57 7 7.3%60 4 6.5%
Locanda Ravello 40 8 5.1%
Piatti Restaurant 37 9 4.0%37 9 4.0%
Smart & Final 35 10 4.5%36 10 3.9%
Walgreens 35 10 4.5%39 8 4.2%
Trader Joe's 86 2 9.3%
Marshalls of Danville 77 3 8.3%
Safeway 48 6 5.2%
Total Employees: 819 923
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
2025 2024
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OPERATING INFORMATION
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Function 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Legislative 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Administration 6.50 8.25 8.25 7.75 7.75 6.75 6.75 6.25 7.00 7.00
Legal 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Police Services* 37.75 37.75 37.75 37.75 37.75 37.75 37.75 37.75 38.75 37.75
Development Services 29.75 27.00 27.00 26.50 25.50 23.50 23.50 23.50 23.50 23.50
Transportation Services 3.25 3.75 3.25 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Community Services
Maintenance 31.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00 31.75 31.75
Recreation, Arts &
Community Services 37.75 38.25 38.25 42.00 42.00 42.00 42.00 42.00 41.00 33.00
Finance 5.25 5.25 5.25 5.00 5.00 5.00 5.00 5.00 4.00 4.00
Support Services 4.50 4.50 4.50 4.50 4.50 4.50 4.50 6.00 6.00 6.00
Community Events 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50
Human Resources 2.50 2.50 2.50 2.25 2.25 2.00 2.00 2.00 2.00 2.00
Total 154.25 160.75 160.75 160.25 161.25 158.00 158.00 159.00 159.50 150.50
Source: Adopted Town Budgets
Town of Danville
Full-Time Equivalent Town Government Employees by Function
Last Ten Fiscal Years
Fiscal Year
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Function 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Police:1
Arrests 515 500 447 391 281 165 229 250 328 312
Traffic violations 3,875 2,605 3,702 2,786 2,482 1,177 959 3,093 3,684 4,341
Parking violations 1,625 1,774 1,367 1,593 1,346 482 868 1,380 1,086 1,375
Public works:
Street resurfacing (miles) 24 15.2 5.9 5.5 10.23 0 6.2 6.4 16.3 11.5
Pot holes repaired 181 249 84 309 149 163 84 547 109 481
Parks and recreation:
Course registration 18,147 20,352 19,174 18,146 13,593 4,592 12,912 15,763 20,539 17,189
Facility rentals/permits 2 716 804 786 638 538 8 97 172 540 221
Picnic rentals 241 413 406 354 205 130 545 590 530 493
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
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Function 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Police:
Stations 1111111111
Patrol units 12 13 13 13 13 13 13 13 13 13
Public works:
Street (miles) 144.6 144.6 144.6 157.89 158.15 158.15 158.28 158.49 158.49 158.49
Street lights 1,417 1,417 1,158 1,158 1,158 1,158 1,158 1,158 1,182 1,200
Signalized intersections 51 52 54 54 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 9999
Pickleball courts 0000022222
Community centers 3333333333
Source: Various Town departments
Town of Danville
Capital Asset Statistics by Function
Last Ten Fiscal Years
Fiscal Year
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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 Auditor’s 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, 2025, 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 December 16, 2025.
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
152
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
December 16, 2025
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