City of Downey Annual Comprehensive Financial Report For Fiscal Year Ended June 30, 2021

Page 92

CITY OF DOWNEY NOTES TO FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2021 Note 10:

Long-Term Debt (Continued) Capital Lease Payable The future minimum lease obligations and the net present value of these minimum lease payments are as follows: BusinessType Activities

Year Ending June 30, 2022

$

Total minimum lease payments Less: amounts representing interest

75,072 (1,988)

Present value of minimum lease payments

Note 11:

75,072

$

73,084

Compensated Absences Compensated Absences For the fiscal year ended June 30, 2021, compensated absences are as follows: Balance June 30, 2020 Compensated absences: Governmental activities Business-type activities Total compensated absences

$ 16,933,089 619,905 $ 17,552,994

Additions $ $

4,811,766 190,832 5,002,598

Reductions $ $

5,170,438 153,405 5,323,843

Balance June 30, 2021 $ 16,574,417 657,332 $ 17,231,749

Due Within One Year $ $

5,170,438 153,405 5,323,843

The compensated absences are predominantly associated with the General fund. Note 12:

Claims and Judgements Claims Payable (Self-Insurance) The City has two types of claims it has to manage and account for. The City is a member of Independent Cities Risk Management Authority (ICRMA), an Authority that provides liability insurance for several California Cities, and employs independent claims administrators to accomplish this task. The two types of claims are workers’ compensation and general liability. The self-insured retention and limits of insurance coverage (each occurrence or per employee, per year) for the respective claims are as follows:

Limit of Insurance Coverage

Self-Insured Retention Workers' Compensation General Liability

$

66

750,000 2,000,000

$

5,000,000 20,000,000


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Operating Information: Full-Time and Part-Time City Employees by Function – Last Ten Fiscal Years

1min
pages 180-181

Direct and Overlapping Property Tax Rates – Last Ten Fiscal Years

0
pages 166-167

Net Bonded Debt per Capita – Last Ten Fiscal Years

0
pages 171-172

Measure S 2017 LRB

0
page 131

LSTA Grant

2min
page 130

Gas Tax

0
page 129

Combining Balance Sheet - Governmental Funds

7min
pages 106-111

Budgetary Comparison Statement (Budgetary Basis) - CIP Grant Special Revenue Fund

1min
page 98

Notes to Required Supplementary Information

12min
pages 100-105

Schedule of Changes in the Net OPEB Liability and Related Ratios

3min
pages 92-93

Schedule of Contributions - OPEB

4min
pages 94-95

Budgetary Comparison Statement (Budgetary Basis) – General Fund

1min
page 96

Statement of Changes in Fiduciary Net Position - Fiduciary Funds

1min
page 40

Statement of Fiduciary Net Position - Fiduciary Funds

1min
page 39

Statement of Cash Flows - Proprietary Funds

1min
page 38

Statement of Net Position - Proprietary Funds

1min
page 36

Fund Financial Statements: Balance Sheet - Governmental Funds

4min
pages 28-30

Government-Wide Financial Statements: Statement of Net Position

1min
page 25

Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds

5min
pages 32-34

Statement of Revenues, Expenses and Changes in Fund Net Position - Proprietary Funds

1min
page 37

Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position

2min
page 31

Statement of Activities

5min
pages 26-27

Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities

1min
page 35
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