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6.A. - Page 86 of 114
<br />CITIES
<br />Fiscal
<br />Year
<br />Covered
<br />Payroll
<br />Pension
<br />Contribution
<br />Cost
<br />Contribution
<br />Rate (i.e.,
<br />Pension
<br />Contribution
<br />Cost as % of
<br />Payroll)
<br />Unfunded
<br />Liability
<br />Funded
<br />Percentage
<br />Unfunded
<br />Liability if
<br />Discount
<br />Rate is
<br />Reduced
<br />1%
<br />General
<br />Fund
<br />Spending
<br />Pension
<br />Contribution
<br />Cost as % of
<br />General
<br />Fund
<br />Spending
<br />Daly City
<br />2017-18
<br />$42,809
<br />$13,132
<br />30.7%
<br />$164,352
<br />74.1%
<br />$248,373
<br />$77,663
<br />16.9%
<br />2016-17
<br />$43,398
<br />$11,631
<br />26.8%
<br />$139,861
<br />75.7%
<br />$213,918
<br />$77,139
<br />15.1%
<br />2015-16
<br />$42,608
<br />$12,081
<br />28.4%
<br />$112,195
<br />80.0%
<br />$185,217
<br />$79,062
<br />15.3%
<br />2014-15
<br />$42,226
<br />$8,862
<br />21.0%
<br />$99,631
<br />81.9%
<br />$169,965
<br />$72,649
<br />12.2%
<br />East Palo Alto*
<br />2017-18
<br />$9,258
<br />$1,643
<br />17.7%
<br />$10,854
<br />73.3%
<br />$16,132
<br />$19,673
<br />8.3%
<br />2016-17
<br />$8,464
<br />$1,493
<br />17.6%
<br />$9,459
<br />74.1%
<br />$13,750
<br />$18,109
<br />8.2%
<br />2015-16
<br />$8,078
<br />$1,372
<br />17.0%
<br />$8,112
<br />78.4%
<br />$12,086
<br />$17,735
<br />7.7%
<br />2014-15
<br />$7,926
<br />$1,477
<br />18.6%
<br />$7,856
<br />79.8%
<br />$11,417
<br />$16,524
<br />8.9%
<br />Foster City
<br />2017-18
<br />$20,859
<br />$6,506
<br />31.2%
<br />$78,061
<br />68.1%
<br />$111,419
<br />$37,842
<br />17.2%
<br />2016-17
<br />$19,875
<br />$7,209
<br />36.3%
<br />$69,207
<br />68.8%
<br />$98,575
<br />$36,416
<br />19.8%
<br />2015-16
<br />$18,697
<br />$5,294
<br />28.3%
<br />$56,390
<br />76.3%
<br />$84,686
<br />$33,048
<br />16.0%
<br />2014-15
<br />$17,696
<br />$4,552
<br />25.7%
<br />$50,458
<br />78.2%
<br />$77,534
<br />$31,322
<br />14.5%
<br />Half Moon Bay
<br />2017-18
<br />$3,118
<br />$881
<br />28.2%
<br />$10,902
<br />72.9%
<br />$16,491
<br />$12,188
<br />7.2%
<br />2016-17
<br />$2,423
<br />$594
<br />24.5%
<br />$9,502
<br />74.6%
<br />$14,557
<br />$10,418
<br />5.7%
<br />2015-16
<br />$2,014
<br />$583
<br />28.9%
<br />$7,319
<br />80.1%
<br />$12,332
<br />$8,781
<br />6.6%
<br />2014-15
<br />$1,987
<br />$529
<br />26.6%
<br />$6,736
<br />81.6%
<br />$11,620
<br />$8,352
<br />6.3%
<br />Hillsborough**
<br />2017-18
<br />$10,233
<br />$2,412
<br />23.6%
<br />$25,911
<br />73.6%
<br />$39,430
<br />$22,258
<br />10.8%
<br />2016-17
<br />$8,661
<br />$2,158
<br />24.9%
<br />$22,387
<br />74.8%
<br />$34,262
<br />$21,224
<br />10.2%
<br />2015-16
<br />$9,089
<br />$1,893
<br />20.8%
<br />$17,187
<br />78.6%
<br />$28,063
<br />$19,693
<br />9.6%
<br />2014-15
<br />$8,625
<br />$1,605
<br />18.6%
<br />$14,770
<br />79.8%
<br />$25,822
<br />$18,721
<br />8.6%
<br />Menlo Park***
<br />2017-18
<br />$23,371
<br />$5,555
<br />23.8%
<br />$57,358
<br />74.7%
<br />$87,527
<br />$52,491
<br />11.8%
<br />2016-17
<br />$23,112
<br />$5,565
<br />24.1%
<br />$50,993
<br />74.4%
<br />$77,514
<br />$47,314
<br />11.8%
<br />2015-16
<br />$19,868
<br />$4,747
<br />23.9%
<br />$38,881
<br />79.2%
<br />$64,170
<br />$42,565
<br />11.2%
<br />2014-15
<br />$19,969
<br />$4,228
<br />21.2%
<br />$34,371
<br />80.6%
<br />$58,596
<br />$40,581
<br />10.4%
<br />*Note: East Palo Alto has stated to the Grand Jury that it believes it is more representative of its financial situation to include in "General Fund Spending" the
<br />"operating transfers out of [its] General Fund to other City funds. The transfers primarily relate to the support of infrastructure -related programs including NPDES,
<br />Drainage District and pay -go funded Capital Improvement projects." If these operating transfers out are included, then General Fund Spending with transfers would be
<br />$21.77 million in FY 2017-18, $21.92 million in FY 2016-17, $21.2 million in FY 2015-16 and $20.15 million in FY 20-14-15 and Contribution Cost as a % of General
<br />Fund Spending with these transfers would be 7.5% in FY 2017-18,6.8% in FY 2016-17, 6.5% in FY 2015-16 and 7.3% in FY 2014-15. (Email from East Palo Alto,
<br />dated June 7, 2019.)
<br />**Note: Hillsborough makes the same comment as East Palo Alto and notes that, transfers out of the general fund should be included in "General Fund Spending"
<br />above as follows: For FY 2017-18, add $2.07 million for a new total of $24.33 million; for FY 2016-17, add $3.86 million for a new total of $25.09 million; for FY
<br />2016-17, add $0.461 million for a new total of $20.15 million; and for FY 2014-15, add $0.742 million for a new total of $19.46 million. These higher General Fund
<br />Spending amounts would result in decreases in the percentages in "Contribution Cost as a % of General Fund Spending" as follows: for FY 2017-18, 9.9%; for FY
<br />2016-17, 8.6%; for FY 2015-16, 9.4%; and for FY 2014-15, 8.3%. (Email from Hillsborough, dated June 7, 2019.)
<br />***Note: Menlo Park also makes the same comment as East Palo Alto and Hillsborough. If its "transfers out' of $5.09 million in FY 2017-18 were included as a part of
<br />general fund expenditures, then those expenditures would increase to $57.58 million and "Contribution Cost as % of General Fund Spending" would drop from 11.8
<br />percent to 9.6 percent. Adding "transfers out' of $5.57 million, $4.75 million, and $4.23 million for fiscal years 2016-17, 2015-16 and 2014-15, respectively, results in
<br />the "Contribution Cost as % of General Fund Spending" for those years dropping to 10.7 percent, 9.3 percent and 9.4 percent, respectively. (Email from Menlo Park,
<br />dated June 6, 2019.) (Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2017, p. 36. Comprehensive Annual Financial Report for the Fiscal
<br />Year Ended June 30, 2016, p. 35. Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2015, p. 35.)
<br />2018-19 San Mateo Civil Grand Jury Appendix A-2
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