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SUPPLEMENTAL MATERIAL <br />3 <br /> <br />Agenda Item #13: Accept the audited financial statements of the City of Pleasanton <br />including the Annual Comprehensive Financial Report and other related audit reports for <br />the fiscal year ended June 30, 2025 <br /> <br />5. The discussion states that the PARS Conservative portfolio of $20.9 million <br />resides as a restricted pension reserve in the General Fund. The PARS Capital <br />Growth portfolio is in an internal service fund. Why is one counted in the General <br />Fund and the other not? <br />A. It was set up this way due to the original funding source. <br /> <br />6. The report (page 221) states there was a $4.3 million loss on disposal of capital <br />assets related to PFAS treatment and rehab rehabilitation project plus other <br />projects. “Capital assets previously recorded were deleted” - which assets were <br />deleted and what does that mean? The PFAS treatment project design was put <br />on the shelf for possible future use if the groundwater wells project does not pan <br />out. <br />A. The $4.3 million is the cost allocated to complete water related CIP projects <br />that were terminated or no longer considered capital in nature due to the <br />changes in project scope. Since the projects are not proceeding at this point, <br />it was removed. If there is a change in the future, the design work can still be <br />used for the project. Please see detail listing of projects on page 25- <br />Management's Discussion and Analysis, Business-type activities section, <br />bullet #3 of the FY25 Annual Comprehensive Financial Report (ACFR). <br /> <br />7. What is the date by which CALPERS informed the City what its investment <br />earnings were for 2023/24 (when we could know how much higher than expected <br />it was)? <br />A. CalPERS usually reports the preliminary investment return in July and <br />calculates the final return later. The final investment return was 9.5% for FY <br />2023/24 and 12.1% for FY 2024/25. <br /> <br />8. The report (page 238) states pre-funded pension contributions of $27.3 million <br />were made through June 30, 2025. Is this the annual contribution for the fiscal <br />year? <br />A. No. The $27.3 million stated in the transmittal letter represents the cumulative <br />lump-sum payments made to CalPERS through June 30, 2025. The City has <br />not made additional payments in the last several years.