CC - Item 4C - Acceptance of Annual Audit Reports for FY Ended June 30, 2025WWW.LSLCPAS.COM
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CITY OF ROSEMEAD
ROSEMEAD, CALIFORNIA
Annual Comprehensive Financial Report
With Report on Audit By
Independent Certified Public Accountants
For the Year Ended June 30, 2025
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CITY OF ROSEMEAD
ROSEMEAD, CALIFORNIA
Annual Comprehensive Financial Report With Report on Audit By Independent Certified Public Accountants
For the Year Ended June 30, 2025
Table of Contents
INTRODUCTORY SECTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9
Letter of Transmittal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
Directory of Officials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16
Organizational Chart . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17
Government Finance Officers Association Award . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
FINANCIAL SECTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Management’s Discussion and Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .27
Basic Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .43
Government-Wide Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .45
Statement of Net Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .47
Statement of Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .48
Fund Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .49
Government Fund Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .51
Balance Sheet - Governmental Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .53
Reconciliation of the Governmental Funds Balance Sheet of Governmental Funds to the
Statement of Net Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
55
Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental
Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
57
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund
Balances of Governmental Funds to the Statement of Activities . . . . . . . . . . . . . . . . . . . . . . .
59
Proprietary Fund Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .61
Statement of Net Position - Proprietary Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63
Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds . . . .64
Statement of Cash Flows - Proprietary Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65
Fiduciary Fund Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .67
Statement of Fiduciary Net Position - Fiduciary Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .69
Statement of Changes in Fiduciary Net Position - Fiduciary Funds . . . . . . . . . . . . . . . . . . . . .70
Notes to The Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .71
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CITY OF ROSEMEAD
ROSEMEAD, CALIFORNIA
Annual Comprehensive Financial Report With Report on Audit By Independent Certified Public Accountants
For the Year Ended June 30, 2025
Table of Contents
FINANCIAL SECTION (continued)
Page
Required Supplementary Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .111
Budgetary Comparison Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .113
General Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .115
City Grants Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .116
American Rescue Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .117
HOME Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .118
Pension Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .119
Schedules of Proportationate Share of Net Pension Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .121
Schedules of Plan Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .122
Schedule of Changes in the Net Pension Liability/(Asset) and Related Ratios - PARS Retirement
Enhancement Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
124
PARS Retirement Enhancement Plan - Schedule of Contributions . . . . . . . . . . . . . . . . . . . . . . . .126
Schedule of Changes in the Net OPEB Liability/(Asset) and Related Ratios - Safety Plan . . . . . . .128
Schedule of Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .130
Combining and Individual Fund Statements and Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .132
Nonmajor Governmental Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .133
Combining Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .135
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances . . . . . . . . .140
Budgetary Comparison Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .146
SLFRF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .148
State Gas Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .149
Local Transportation and Sidewalk Grant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .150
Proposition A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .151
Proposition C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .152
Measure R . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .153
Measure M . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .154
Air Quality Management District . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .155
Street Lighting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .156
Development Impact Fee Traffic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .157
Development Impact Fee Public Safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .158
Development Impact Fee General Govt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .159
Development Impact Fee Parks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .160
Community Development Block Grant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .161
HDC Senior Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .162
Road Maintenance and Rehabilitation Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .163
Clean Water Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .164
SB1383 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .165
Measure R Capital Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .166
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CITY OF ROSEMEAD
ROSEMEAD, CALIFORNIA
Annual Comprehensive Financial Report With Report on Audit By Independent Certified Public Accountants
For the Year Ended June 30, 2025
Table of Contents
Page
Internal Service Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .168
Combining Statement of Net Position - Internal Service Funds . . . . . . . . . . . . . . . . . . . . . . . . . . .170
Combining Statement of Revenues, Expenses and Changes in Net Position - Internal
Service Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
171
Combining Statement of Cash Flows - Internal Service Funds . . . . . . . . . . . . . . . . . . . . . . . . . . .172
STATISTICAL SECTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .174
Financial Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .178
Schedule 1 - Net Position by Component . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .180
Schedule 2 - Changes in Net Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .182
Schedule 3 - Fund Balances of Governmental Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .184
Schedule 4 - Changes in Fund Balances of Government Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . .186
Revenue Capacity Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .189
Schedule 5 - Assessed Value and Estimated Actual Value of Taxable Property . . . . . . . . . . . . . . . . .190
Schedule 6 - Direct and Overlapping Property Tax Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .191
Schedule 7 - Principal Property Taxpayers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .192
Schedule 8 - Property Tax Levies and Collections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .193
Debt Capacity Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .195
Schedule 9 - Direct and Overlapping Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .196
Schedule 10 - Ratios of Outstanding Debt by Type . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .197
Schedule 11 - Legal Debt Margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .198
Schedule 12 - Pledged Revenue Coverage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .200
Demographic and Economic Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .202
Schedule 13 - Demographic and Economic Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .203
Schedule 14 - Principal Employers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .204
Schedule 15 - Top 25 Sales Tax Producers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .205
Schedule 16 - Full-Time Equivalent City Government Employees by Function/Program . . . . . . . . .206
Operating Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .208
Schedule 17 - Operating Indicators by Function/Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .209
Schedule 18 - Capital Asset Statistics by Function . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .210
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INTRODUCTORY SECTION
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Letter of Transmittal
MAYOR:City of RosemeadSteven Ly
MAYOR PRO TEM:
Margaret Clark
COUNCIL MEMBERS:8838 E. Valley Boulevard
Sandra Armenta Rosemead, California 91770
Sean Dang Telephone: (626) 569-2100
Polly Low Fax: (626) 307-9218
December 19, 2025
To the Honorable Mayor, Members of the City Council, and Citizens of the City of Rosemead:
We proudly present to you, the Annual Comprehensive Financial Report (ACFR) of the City of Rosemead for the
fiscal year ended June 30, 2025. It was prepared by the Finance Department in accordance with Generally
Accepted Accounting Principles (GAAP) as promulgated by the Government Accounting Standards Board
(GASB).
Responsibility for the accuracy of the data, completeness, and fairness of the presentation, including all
disclosures, rests with the City. We believe that the information, as presented, is accurate in all material respects;
that it is presented in a manner designed to fairly set forth the financial position of the City and the results of its
operations; and that all disclosures necessary to enable the reader to gain the maximum understanding of the
City’s financial affairs have been included.
Management of the City is also responsible for establishing and maintaining internal control designed to ensure
that the assets of the government are protected from loss, theft, or misuse, and to ensure that adequate
accounting data are compiled to allow for the preparation of financial statements in conformity with U.S. generally
accepted accounting principles. Internal control is designed to provide reasonable, but not absolute, assurance
that these objectives are met. The concept of reasonable assurance recognizes the cost of a control should not
exceed the benefits likely to be derived.
The City of Rosemead’s financial statements have been audited by LSL, LLP, a firm of licensed certified public
accountants. The goal of the independent audit is to provide reasonable assurance that the financial statements
of the City of Rosemead for the fiscal year ended June 30, 2025, are free of material misstatement. The
independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements; assessing the accounting principles used and significant estimates made by management
and evaluating the overall financial statement presentation. The independent auditor concluded, based upon the
audit, that there was reasonable basis for rendering an unmodified opinion that the City of Rosemead’s financial
statements for the fiscal year ended June 30, 2025, are fairly presented in conformity with GAAP. The
independent auditor’s report is presented as the first component of the financial section of this report.
The independent audit of the financial statements was part of a broader, federally mandated “Single Audit”
designed to meet the special needs of federal grantor agencies. The standard governing Single Audit
engagements require the independent auditor to report not only on the fair presentation of the financial
statements, but also on the audited government’s internal controls and compliance with legal requirements, with
special emphasis on internal controls and legal requirements involving the administration of federal awards.
These reports are available in the City of Rosemead’s separately issued Single Audit Report.
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Managements’ discussion and analysis (MD&A) immediately follows the independent auditors’ report and
provides a narrative introduction, overview, and analysis of the City’s basic financial statements. This letter of
transmittal complements the MD&A and the financial statements, and it should be read from that perspective and
in conjunction with all sections of the ACFR. The Statistical section, which is unaudited, includes selected financial
and demographic information generally presented on a multi-year basis.
Profile of the Government
The City of Rosemead, incorporated in 1959, is located in the southwestern part of the state. The City occupies a
land area of 5.5 square miles and serves a population of 50,541. As a general law city, Rosemead operates under
the Council-Manager form of government.
The City Council consists of five City Council Members who are elected at large by the citizens of Rosemead and
are on a rotational Mayor and Mayor Pro Tem term. The Council, as the legislative body, is responsible for, among
other things, establishing policy, passing ordinances and resolutions, adopting the annual budget, appointing
members to various City Commissions, and appointing the City Manager, City Attorney, and City Clerk. The
Council conducts City Council meetings and study sessions as required. The City Manager is responsible for
carrying out the policies and ordinances for the City Council, for overseeing the day-to-day operations of the
government, and for appointing department directors.
The City has two blended component units: (1) the Rosemead Financing Authority (the Authority); and (2) the
Rosemead Housing Development Corporation (RHDC) Additional information on these legally separate entities
can be found in Note 1(a) in the notes to the financial statements.
Municipal services are provided to Rosemead residents in a variety of methods including a city workforce,
contract services, and special districts. Administration, Finance, Public Works, Parks and Recreation, and
Planning services are provided by City Staff while Building and Safety, Information Technology, City Attorney,
Engineering, capital improvement projects, and some street maintenance efforts are provided through contracts
with private firms funded by the City. The City’s largest public agency contract is for law enforcement and traffic
control services provided by the Los Angeles County Sheriff’s Department. Fire Protection, Library and Flood
Control are provided by special districts within Los Angeles County which are primarily funded through a portion of
the ad valorem property taxes.
Public schools serving residents of Rosemead are under the authority of independent school districts, but the City
works closely with the districts to provide quality educational opportunities for grades K-12. Garvey School
District, Rosemead School District, and El Monte Union High School District serve residents of Rosemead. There
are 9 elementary schools, 3 middle schools, and 1 high school.
Budgetary Controls
The annual budget serves as the foundation for the City of Rosemead and its component units for financial
planning and control. The development of the Fiscal Year Annual Operating Budget begins in January with the
dissemination of the budget preparation guidelines. All departments and component units of the City are required
to submit requests for appropriation to the City Manager in March of each year. The Finance Department, under
the direction of the City Manager, uses these requests as the starting point for developing a proposed budget. The
City Manager presents the proposed budget to the City Council for review prior to June 30. The City Council holds
public meetings on the proposed budget and adopts the final budget no later than June 30, the close of the City of
Rosemead’s fiscal year. The appropriated budget is prepared by fund and department (e.g., public safety).
The City’s budget policy is that all appropriations for operating accounts lapse at fiscal year-end. Outstanding
operating account encumbrance balances at fiscal year-end are paid from the appropriations in which the invoice
is paid. City Council may amend the budget at any time during the fiscal year. The City Manager may authorize
budget transfers between programs and departments within the same fund while budgetary changes between
funds require City Council approval.
Budget-to-actual comparisons are provided in this report for each individual governmental fund for which an
appropriated annual budget has been adopted. For the general fund and major special revenue funds, these
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comparison schedules are presented as part of the required supplementary information in the accompanying
financial statements. For governmental funds that have appropriated annual budgets, other than the general fund,
and major special revenue funds, the comparison schedules are presented in the other supplementary section of
the accompanying financial statements.
Economic Condition and Outlook
The national economic outlook continues to influence local government revenues and expenditure patterns. As of
late 2025, the Federal Reserve has reduced the Federal Funds Rate to a target range of 3.75 percent to 4.00
percent in response to softening labor market conditions and continued progress toward its two percent inflation
goal. These rate adjustments, combined with easing inflation of approximately 2.4 percent and a stable
unemployment rate of about 4.3 percent, shape near term financial expectations for local jurisdictions.
The Conference Board now forecasts United States real GDP growth of 1.8 percent in 2025 and 1.5 percent in
2026. The revised outlook reflects expectations of slowing consumer demand, continued moderation in inflation,
and tighter financial conditions carrying into next year. According to the organization, lower inflation and gradual
labor market cooling will support measured interest rate reductions throughout 2025 and 2026, although overall
economic activity is expected to remain modest by historical standards.
Due to a stable property tax base and a reasonably diverse sales tax base, the City of Rosemead has a solid
financial foundation. The City’s future economic health will be dependent on maintaining healthy reserves through
fiscally conservative budgets and policies, in addition to aggressively pursuing economic development
opportunities. As part of its sound, conservative fiscal policy, the City will keep an eye on important economic
indicators, revenue sources, and spending levels.
Property tax, including Property Tax In-Lieu of VLF, is the City’s largest tax source at $13.0 million and makes up
approximately 39% of the General Fund revenues. Total assessed value from the 2024-25 tax roll is $6.1 billion,
up $298 million from the prior year. Residential property represents 76% of this growth as housing values rise.
The median sales price for a single-family home increased from $960,000 to $975,000 over the past year when
comparing quarter 2 calendar year data. The residential category assessed value increased approximately $243
million, which represents a 5.2% increase. Because the City of Rosemead is classified as a ‘no-low property tax
city’, the General Fund retains just $0.0668 for every dollar of property tax collected within the City.
Sales and use tax revenue is the second largest revenue source for the General Fund, at $7.1 million and
represents approximately 21% of the General Fund revenues. Consumer goods continue to be the top category of
sales tax generating businesses in Rosemead, generating 33% of sales tax revenues followed by 28% from
restaurants and hotels.
Prior to the pandemic, Transient Occupancy Tax (TOT) revenue was typically the City’s third largest General Fund
revenue source. For the current period, TOT receipts total $2.3 million, placing them fourth overall, now trailing
increased building permit revenue, which has risen to $3.4 million.
Long-Term Financial Planning
In addition to managing the City’s money in a manner that ensures Rosemead is financially stable, the long-term
Strategic Plan reflects the City Council’s continued commitment to support high quality municipal services, provide
for the maintenance and expansion needs of the City’s infrastructure and facilities, and profile the City’s economic
development strategy. The City’s first Strategic Plan was adopted by the City Council in 2009 and was to guide
the organizational efforts of the Council, Commissions, and staff to meet its ‘Vision 2020’ goal. The strategic
planning process, and subsequent updates, included an extensive public outreach process and a series of public
meetings. The vision, key organizational goals, and action items in the Strategic Plan update are designed to
guide the decisions of the City Council, focus of the City administration, and daily work of City staff.In December
2021, the City Council adopted a 2030 Strategic Plan which focuses and values safety, diversity, community,
service, and family. This vision will assist in creating a safe, welcoming, connected, and active city, a destination
with thriving local businesses, well-maintained parks and infrastructure, and quality programming and services
which support the entire City. Our overall mission is for Rosemead to provide quality programs, services, and
13
support that builds relationships, increase opportunities, and make Rosemead a great place to live, work, and
play.
Major Accomplishments
The City recognizes that there’s a housing shortage in the State of California and has accounted for an excess
number of housing units above our Regional Housing Needs Allocation (RHNA) of 4,612 units during the City’s 6th
Cycle Housing Element. As part of the Housing Element Update the City identified ten candidate sites to rezone
to further accommodate for the City’s RHNA and to comply with SB 166 (no net loss). These efforts were
completed in January 2025.
The City is now in the process of amending the Zoning Code and General Plan Land Use Element to further
support continued growth and demand for housing, facilitate new development, and promote activation along
major commercial corridors. In July 2024, the City Council approved an amendment to the professional services
agreement with our project consultant, Psomas, to expand residential and mixed-use development throughout the
City of Rosemead.
In December 2024, the City streamlined the Accessory Dwelling Unit (ADU) plan check process and complied with
Assembly Bill 1332 by developing an ADU Standard Plans Program. To date, the City has pre-approved six
different detached ADU plans ranging in size from 800 - 1,200 square feet.
The City received entitlement applications from the Lewis Group for a multi-residential project with approximately
200 residential units. The City also approved a Density Bonus application for an eight-unit residential development
with three very-low income units. The Myriad Food Hall was approved for an addition on their rooftop,
reconfiguration of various outdoor dining areas at both the ground and rooftop levels, the implementation of a new
exterior color scheme, and a slight increase in the height of the building.
The City participated in ground-breaking events for the Myriad Food Hall and the Taiwan Center. The City also
facilitated grand opening events or streamlined the review process for the following new businesses in the City:
Bake & Che, Big Ma’s Kitchen, ChaTraMue, Da Vien Coffee, Golden Delight #2, Hot Stone Pho, Starbucks, and
Summerfield Tea Bar.
The Building and Safety Division continues to streamline processes to better serve the community. The City
digitized building permit files and available paper plans to provide an efficient document retrieval system. The City
also retained OpenGov for permit and land use management services which contributes to improving the City’s
development process.
The City also partnered with SolarAPP+ to streamline the permit process for eligible small solar projects by
allowing online submissions.
The Building and Safety Division finaled the Cassia Project, 37 residential units with eight smalls lots, four of
which are affordable units. In addition, the Building and Safety Division plan checked close to 700 plans, issued
almost 900 permits, and conducted approximately 3,500 inspections.
Utilizing the City’s Community Development Block Grant (CDBG) grant funding from the U.S. Department of
Housing and Urban Development (HUD), the Housing Division assisted several business owners with exterior
improvements that include outdoor dining furnishings, new signage, and security enhancements through the
Commercial Improvement Program. With CDBG funding, the City also provided grant funding to eleven
homeowners for emergency code deficiencies or critical health and safety-related improvements through the
Owner-Occupied Rehabilitation Program. Furthermore, the City provided funding to the CDBG Program
subrecipients to assist over 800 Rosemead residents with groceries, senior nutrition, fair housing information,
temporary housing, youth employment, and medical/health services.
The Housing Division assisted five low-income home buyers for the purchase of homes in the City of Rosemead
utilizing the City’s Homeownership Assistance Program, which is funded by HUD’s Home Investment Partnership
Program (HOME) funds.
14
The City also retained National CORE for property management services at both Garvey and Angelus Senior
Complexes.
The Public Works Department completed major projects during FY 24-25 including the Mission Drive Pedestrian
Hybrid Beacon System, Roof Replacement at Public Works Office & Warehouse Building, Annual Sidewalk
Replacement, and Rosemead Park Restroom Renovation. The projects were funded using a variety of sources.
The City of Rosemead generated $3.9 million in interest earnings largely due to favorable returns on its
investments in fixed-income securities. The City actively manages its portfolio to capitalize on these opportunities,
which has significantly contributed to this financial outcome.
Future Initiatives
It is anticipated that some of the Planning projects will submit for entitlements, be entitled, or begin construction.
Pasadena City College’s satellite campus is expected to submit their entitlements. The Myriad Food Hall will
complete construction and the Prospect Villa and Garvey Del Mar Plaza mixed-use projects will begin
construction. The approved small lot subdivision projects should also begin construction.
The City will complete the updates to the Zoning Code and General Plan Land Use Element. This will assist the
City in surpassing the 2029 requirements of RHNA and establish Rosemead well into the future to meet
residential market demands that spur economic growth and development. The City will also retain a consultant to
assist with updates to several elements of the General Plan to comply with State law.
The City is expected to fully integrate OpenGov for permit and land use management services, including online
payment. The City will also seek grant opportunities that contribute to the City's economic development, housing
production, workforce development, and cultural art activities.
Awards and Acknowledgements
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in
Financial Reporting to the City of Rosemead for its Annual Comprehensive Financial Report for the fiscal year
ended June 30, 2024. This was the 6th consecutive year that the City has received this prestigious award. The
Certificate of Achievement is the highest form of recognition in governmental management. To be awarded this
certificate, a government must publish an easily readable and efficiently organized ACFR, with contents that
conform to program standards. The report must satisfy both generally accepted accounting principles and all
applicable legal requirements. We believe the current Annual Comprehensive Financial Report conforms to the
Certificate of Achievement program requirements and are submitting it to GFOA to determine its eligibility for a
certificate for the fiscal year ended June 30, 2025.
The preparation of this report is made possible by the talent and dedicated services of the Finance Department
staff with special recognition to Tess Anson, Finance Manager, and Polly Tan, Accountant. In addition,
appreciation is extended to our independent auditors, LSL, LLP, for its expertise and advice in preparing this
year’s financial report. We also thank the Mayor and members of the City Council in their interest and support in
planning and conducting the financial operations and corresponding financial disclosures of the City in an open,
public, and transparent manner.
Respectively submitted,
Bryan Chua
Assistant City Manager/Finance Director/City Treasurer
15
Directory of Officials
CITY COUNCIL
Margaret Clark Sandra Armenta
Mayor Mayor Pro Tem
Steven Ly Sean Dang Polly Low
Council Member Council Member Council Member
EXECUTIVE STAFF
City Manager ......................................................................................Ben Kim
City Clerk ..............................................................................................Ericka Hernandez
City Attorney ........................................................................................Rachel H. Richman
Assistant City Manager/Finance Director ........................................Bryan Chua
Chief of Police (LA County Sheriff’s Dept) ......................................Kevin Tiwari
Director of Community Development ...............................................Lily Valenzuela
Director of Parks & Recreation .........................................................Thomas Boecking
Director of Public Safety ....................................................................Tim Murakami
Director of Public Works ....................................................................Sam Gutierrez
16
Organizational Chart
17
Government Finance Officers Association Award
The Government Finance Officers
Association of the United States and
Canada (GFOA) awarded a Certificate of
Achievement for Excellence in Financial
Reporting to the City of Rosemead for its
Annual Comprehensive Financial Report for
the fiscal year ended June 30, 2024. The
Certificate of Achievement is a prestigious
national award recognizing conformance
with the highest standards for preparation of
a state and local government financial
reports.
To be awarded a Certificate of
Achievement, a government unit must
publish an easily readable and efficiently
organized annual comprehensive financial
report, whose contents conform to program
standards. The ACFR must satisfy both
generally accepted accounting principles
and applicable legal requirements.
The award is valid for a period of one year
only. We believe our current report
continues to conform to the program
requirements and will therefore, be
submitting it to GFOA for consideration.
The City of Rosemead has received the
Certificate of Achievement for the last 5
consecutive years.
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FINANCIAL SECTION
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24
25
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MANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED)
Management’s Discussion and Analysis
Financial Highlights for Year Ended June 30, 2025
27
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28
Introduction
This Management’s Discussion and Analysis provides an overview of the City of Rosemead financial activities for the
fiscal year ended June 30, 2025. Readers are encouraged to consider this discussion and analysis in conjunction with
the letter of transmittal, which can be found on page 11 and with the Basic Financial Statements, which begin on page
43. This narrative discussion and analysis focuses on the current year’s activities, resulting changes and currently
known facts; therefore, the information presented herein should be considered in conjunction with additional
information furnished in the letter of transmittal and the accompanying basic financial statements.
The information in this section is not covered by the Independent Auditors’ Report. All dollar amounts are expressed in
thousands unless otherwise stated.
Executive Summary - Financial Highlights
• As of June 30, 2025, the City’s net position (total assets and deferred outflows of resources less total liabilities
and less deferred inflows of resources) is $133.8 million, an increase of $9.2 million over the prior fiscal year,
including the beginning net position.
• As of June 30, 2025, total revenue was $53.7 million and total expenses for all functions and programs were
$43.4 million. The City’s net position increased by $9.2 million during the year.
• The City’s total governmental funds reported combined ending fund balances of $71.5 million, an increase of
$6.2 million over the prior year. Of this $71.5 million, $0.4 million was non-spendable, $34.8 million was
restricted, $12.7 million was committed, $0.1 million was assigned, and $23.5 million was unassigned.
• With $33.2 million in general fund revenues (excluding transfers) and $30.3 million in general fund expenditures
(excluding transfers), a pre-transfer general fund surplus of $2.9 million was generated.
• The General Fund’s fund balance at the close of the fiscal year was $37.0 million, an increase of $2.6 million
over the prior year. Of this $37.0 million, $23.8 million, representing 79% of expenditures, was unassigned and
$12.7 million was committed to meet the City’s fund balance policy requirement of 40% of expenditure.
Overview of Financial Statements
The discussion and analysis portion of the annual report is intended to serve as an introduction to and the reader with
a fundamental understanding of, the Annual Comprehensive Financial Report (ACFR) for the City of Rosemead. The
Financial Section of the Annual Comprehensive Financial Report includes the following sections:
1.Independent Auditor’s Report to the the Honorable Mayor and Members of the City Council
2.This introductory commentary, Management’s Discussion and Analysis (MD&A)
3.Basic Financial Statements, including:
a.Government-Wide Financial Statements
b.Fund Financial Statements
c.Notes to the Financial Statements
4.Other Supplementary Information
a.Non-major governmental funds
b.Internal service funds
c.Fiduciary funds
5.Statistical Section - this section presents selected financial and demographic information, generally presented
on a multi-year basis.
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
29
The Financial Statements
The Basic Financial Statements are comprised of the Government-wide Financial Statements and the Fund Financial
Statements. These two sets of financial statements provide two different perspectives of the City’s financial activities
and financial position. The accompanying Notes to the Basic Financial Statements are an integral part of these
financial statements.
The Government-wide Financial Statements provide a long-term view of the City’s activities as a whole. The
Statement of Net Position provides information about financial position, including capital assets and long-term liabilities
on the full accrual basis, similar to that used by commercial enterprises. The Statement of Activities provides
information about the City’s revenues and expenses, also on the full accrual basis, with the emphasis on measuring
the net revenues or expenses of City programs. Information is presented both in total and separately for governmental
activities, which are generally tax and grant supported and business-type activities which are typically supported by
user fees.
•The Statement of Net Position presents information on all of the City of Rosemead’s assets and deferred
outflows of resources and liabilities and deferred inflows of resources, with the difference between the two
reported as net position. Increases or decreases in net position may serve as a useful indicator of whether the
financial position of the City of Rosemead is improving or deteriorating over time.
•The Statement of Activities presents information showing how the City’s net position changed during the most
recent 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 related cash flows. This means revenues and expenses in this
statement are recorded when earned or a liability is incurred. Thus, items such as the value of earned but
unused vacation leave will be recorded as an expense of the current period, even though the actual use of the
vacation time may not be until subsequent periods.
Typically, government-wide financial statements are distinguished between governmental activities which are
principally supported by taxes or intergovernmental revenues and business-type activities which are intended to
recover all or a significant portion of their costs through user fees and charges. The governmental activities of the City
of Rosemead include general government, public safety, community development, parks and recreation, and public
works. The City of Rosemead does not have any business-type activities.
The government-wide financial statements include not only the City of Rosemead itself (known as the primary
government) but also two blended component units- the Rosemead Financing Authority and the Rosemead Housing
Development Corporation and one fiduciary component unit- the Rosemead Successor Agency. The City is financially
accountable for these entities and financial information for these blended and fiduciary units are reported within the
financial information presented for the primary government itself. The government-wide financial statements can be
found on pages 45-48 of this report.
The Fund Financial Statements report the City’s operations in more detail than the government-wide statements. A
fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for
specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and
demonstrate finance-related legal compliance. All of the funds of the City can be divided into three categories:
governmental funds, proprietary funds and fiduciary funds:
•Governmental funds account for most of the City’s basic services and focus primarily on short-term activities
by measuring current revenues and expenditures and excluding capital assets and long-term obligations.
Governmental fund financial statements use the modified accrual basis of accounting and focus on near-term
inflows and outflows of spendable resources, as well as on balances of spendable resources available at the
end of the fiscal year. The City maintains several individual governmental funds organized according to their
type (special revenue and capital projects). Information is presented separately in the governmental funds
balance sheet and in the governmental funds statement of revenues, expenditures, and changes in fund
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
Overview of Financial Statements (Continued)
30
balances for the General Fund, Grants Fund and American Rescue Plan Act Fund, which are major funds.
Data from the remaining non-major governmental funds are combined into a single, aggregated presentation.
Individual fund data for each of these non-major governmental funds is provided in the form of combining
statements beginning on page 133.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it
is useful to compare the information presented for governmental funds with similar information presented for
governmental activities in the government-wide financial statements. By doing so, readers may better
understand the long-term impact of the government’s near-term financing decisions. Both the Governmental
Fund Balance Sheet and the Statement of Revenues, Expenditures, and Changes in Fund Balance provide a
reconciliation to facilitate this comparison.
•Proprietary funds are generally used to account for services for which the City charges customers – either
outside customers, or internal departments or programs of the City. Proprietary funds provide the same type of
information as shown in the government-wide financial statements, only in more detail. The City maintains the
following type of proprietary funds:
◦Internal service funds are used to report activities that provide supplies and services for certain City
programs and activities. The City uses internal service funds internally to account for risk
management, fleet services, information technology equipment maintenance and replacement, capital
equipment maintenance and replacement, post-employment benefits for current and past employees,
on a cost-reimbursement basis. Because these services predominately benefit governmental rather
than business-type functions, they have been included within governmental activities in the
government-wide financial statements. The internal service funds are combined into a single,
aggregated presentation in the proprietary funds financial statement. Individual fund data for the
internal service funds is provided in the form of combining statements beginning on pages 170-172.
•Fiduciary funds are used to report assets held in a trust or agency capacity for others. The City currently has
private-purpose trust fund to account for assets held for the dissolution of the former redevelopment agency,
because this fund is fiduciary in nature, this fund cannot be used to support the City’s programs and therefore
is not reflected in the government-wide financial statements. The basic fiduciary fund financial statements can
be found on pages 69-70.
The Notes to the Financial Statements provide additional information that is essential to a full understanding of the
data provided in the government-wide and fund financial statements.
The combining statements referred to earlier in connection with non-major governmental funds and internal service
funds are presented immediately following the required supplementary information on pensions. Combining and
individual fund statements and schedules can be found on pages 135-172 of this report.
Other Information. In addition to the basic financial statements and accompanying notes, this report also presents
certain required supplementary information concerning the City of Rosemead’s progress in funding its obligation to
provide pension benefits to its employees. Required supplementary information and notes can be found on pages
115-131 of this report.
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
Overview of Financial Statements (Continued)
31
Financial Analysis of the City as a Whole
Net Position. As noted earlier, net position may serve over time as a useful indicator of a government’s financial
position. At June 30, 2025, the City’s net position totaled $133.8 million. Total net position increased by $9.2 million or
7.4% when compared to the prior year.
The chart below reflects the City’s net position for the fiscal year ended June 30, 2025, with comparative data for the
fiscal year ended June 30, 2024.
Financial Position Summary
Table 1. Condensed Statements of Net Position
A summarized comparison of the City’s assets, deferred outflows of resources, liabilities, deferred inflows of resources,
and net position as of June 30, 2025:
Governmental Activities
2025 2024 Change
Assets:
Cash and investments $ 87,409,331 $ 81,397,462 $ 6,011,869
Receivables and other assets 11,426,067 9,755,254 1,670,813
Capital assets 56,259,187 53,915,037 2,344,150
Total assets 155,094,585 145,067,753 10,026,832
Deferred outflows of resources:
Deferred outflows 3,861,566 4,782,723 (921,157)
Total deferred outflows of resources 3,861,566 4,782,723 (921,157)
Liabilities:
Current and other liabilities 11,126,568 12,044,306 (917,738)
Long-term liabilities 13,304,649 11,965,041 1,339,608
Total liabilities 24,431,217 24,009,347 421,870
Deferred inflows of resources:
Deferred inflows 716,728 1,239,447 (522,719)
Total deferred inflows of resources 716,728 1,239,447 (522,719)
Net position:
Net investment in capital assets 55,862,588 53,652,795 2,209,793
Restricted 37,347,973 31,657,170 5,690,803
Unrestricted 40,597,645 39,291,717 1,305,928
Total net position $ 133,808,206 $ 124,601,682 $ 9,206,524
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
32
The City’s net position of $133.8 million is made up of three components: Net Investment in Capital Assets, Restricted
Net Position, and Unrestricted Net Position. The largest portion, $55.9 million or 41.7%, of the City’s net position
reflects the net investment in capital assets such as land, buildings, machinery, and equipment, less any related debt
used to acquire those assets that were still outstanding. The City of Rosemead uses these capital assets to provide
services to the residents of the City, consequently, these assets are not available for meeting current financial
obligations. An additional portion of $37.3 million or 27.9% of the City’s net position represents various resources
subject to external restrictions on how they may be used. These fund balance amounts are considered restricted. The
remaining $40.6 million, or 30.3% of unrestricted net position can be used to meet the City’s ongoing obligations. This
is the only “discretionary” portion of the City’s total net position amount. See Figure A below for more information.
Compared to the prior year, current and other assets increased by $10.0 million. This increase was primarily due to a
$6.0 million additional investment with higher interest earned and fair value adjustments. A $1.7 million increase in
notes and loan receivables from the Home fund, which provides funding in the form of a silent second loan to
homebuyers for the purpose of acquiring housing within the City of Rosemead. This loan is forgiven at a rate of 25%
every five years, becoming fully forgivable at the commencement of the 21st year. Capital assets increased by $2.3
million due to City’s significant improvements, additional capital projects, and construction in progress this fiscal year.
Total liabilities slightly increased by $0.4 million due to a $2.7 million increased in payables related to various capital
projects and the implementation of GASB 101 compensated absences for $1.7 million offset by $3.2 million decrease
in unearned revenue related to the Grants Fund and American Rescue Plan Act (ARPA) monies spent during the year,
a $0.5 million decrease in accrued interest payable, leases and subscriptions, and a $0.2 million decrease in pension
and other post-employment benefit obligations.
Figure A.Net Position by Component
Unrestricted , 30%
Restricted, 28%
Net investment in
capital assets, 42%
Activities and Changes in Net Position
Changes in Net Position. The statement of net position provides a snapshot at a given point in time of the assets and
liabilities of the City. The other citywide statement provided is the Statement of Activities. This statement provides the
reader with information regarding the revenues, expenses, and changes in net position over the fiscal year. Generally,
all changes to the City’s net position from one fiscal year to the next flow through the statement of activities. The City’s
programs for governmental activities include general government, public safety, community development, parks and
recreation, and public works. The following is a summary schedule showing the components that make up the City’s
changes in net position for the years ended June 30, 2025 and 2024.
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
Financial Analysis of the City as a Whole (Continued)
33
Table 2. Condensed Statement of Activities
A summarized comparison of the City’s Revenues, Expenses, and Changes in Net Position as of June 30, 2025 :
Governmental Activities
2025 2024 Change
Revenues:
Program revenues:
Charges for services $ 11,884,848 $ 8,909,826 $ 2,975,022
Operating grants and contributions 10,771,676 11,915,536 (1,143,860)
Capital grants and contributions 2,392,150 2,133,127 259,023
General revenues:
Property taxes 12,960,873 12,233,339 727,534
Transient occupancy taxes 2,320,163 2,238,353 81,810
Sales taxes 7,106,216 6,999,889 106,327
Franchise taxes 1,899,241 1,835,039 64,202
Other taxes 138,634 118,580 20,054
Use of Money and property 4,169,663 3,793,154 376,509
Other 87,443 16,276 71,167
Total revenues 53,730,907 50,193,119 3,537,788
Expenses:
Governmental activities:
General government 6,178,285 5,613,800 564,485
Public safety 12,896,287 12,935,463 (39,176)
Community development 6,467,687 5,000,935 1,466,752
Parks and recreation 4,965,700 4,314,376 651,324
Public works 12,817,124 12,197,341 619,783
Interest on long-term debt 42,759 3,735 39,024
Total expenses 43,367,842 40,065,650 3,302,192
Changes in net position 10,363,065 10,127,469 235,596
Net position - beginning 124,601,682 114,474,213 10,127,469
Restatement (1,156,541) — —
Net position - beginning, as restated 123,445,141 114,474,213 10,127,469
Net position - ending $ 133,808,206 $ 124,601,682 $ 9,206,524
The statements of revenues, expenses, and changes in net position indicate how the City’s net position changed
during the fiscal year. The current year changes are noted below.
•Total operating revenues: The total revenues increased by $3.5 million compared to prior year. The growth
was primarily driven by a $0.7 million increase in property tax revenue, a $0.1 million increase in sales tax
receipt, a $0.1 million increase in transient occupancy taxes, a $3.0 million increase in charges for services,
and a $0.4 million increase in the use of money and property. These gains were partly offset by a $1.1 million
decrease in grants and contribution due to the offsetting of program income incurred by the city to the grants
received from HUD.
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
Financial Analysis of the City as a Whole (Continued)
34
•Total operating expenses: Total expenses were $3.3 million more than the prior fiscal year due to increases in
General Government by $0.6 million, Parks and Recreation by $0.7 million, Public Works by $0.6 million.
These increases were driven by higher personnel, contract services, and utility costs. Community
Development expenses also increased by $1.5 million as a result of grants received from HUD for the
Homeownership Assistance Program.
•The $1.2 million restatement is due to the implementation of GASB 101, Compensated Absences. Under this
statement, the City is required to change its estimate of compensated absence liability to reflect “more likely
than not” rather than a probability. The effect of the implementation of the change in accounting principle
resulted in adjustments to and restatement of the beginning net position in the governmental activities.
Governmental Activities
Governmental activities. The City’s program revenues totaled $25.0 million with a cost of all governmental activities
for the current year being $43.4 million. The City paid for the remaining “public benefit” portion of governmental
activities with tax and other general revenue sources. The following chart compares expenses to program revenues for
all governmental activities.
Figure B.Expenditures & Program Revenues - Governmental Activities
Ac
t
i
v
i
t
i
e
s
Expenses Program Revenues
Gen Govt Police Fire Streets Building Comm
Dev
Parks &
Rec
Other
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
Financial Analysis of the City as a Whole (Continued)
35
Figure C.Revenue by Source - Governmental Activities
Charges for services, 24.0%
Operating grants and
contributions, 21.7%
Capital grants and
contributions, 4.8%
Property taxes, 26.2%
Transient occupancy taxes, 4.7%
Sales taxes, 14.3%
Franchise taxes, 3.8%
Other taxes, 0.3%
Other, 0.2%
Figure D.Expenses by Source - Governmental Activities
General government, 14.2%
Public safety, 29.7%
Community development, 14.9%
Parks and recreation, 11.5%Public works, 29.6%
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
Financial Analysis of the City as a Whole (Continued)
36
Figure E.Sources of Government-Type Revenue - Two Year Comparison
Re
v
e
n
u
e
(
i
n
M
i
l
l
i
o
n
s
)
2025 2024
Charges
for
services
Operating
grants and
contributions
Capital
grants and
contributions
Property
taxes
Transient
occupancy
taxes
Sales
taxes
Franchise
taxes
Other
taxes
Other
0M
5M
10M
15M
Figure F.Sources of Government-Type Expenses - Two Year Comparison
Re
v
e
n
u
e
(
i
n
M
i
l
l
i
o
n
s
)
2025 2024
General
government
Public safety Community
development
Parks and
recreation
Public works Interest on
long-term
debt
0M
2M
4M
6M
8M
10M
12M
14M
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
Financial Analysis of the City as a Whole (Continued)
37
Financial Analysis of Funds
In addition to the statements described above, the City also maintains financial records at the funds level for budgetary
control. Individual funds are generally established to track the resources and operating results for the general fund and
specific restricted programs.
The City uses governmental fund accounting to ensure compliance with budgetary allocations and to maintain control
over resources that are legally, or otherwise, restricted for specific purposes. Following is a discussion of the individual
“major” funds as shown on the Balance Sheet for Governmental Funds in the basic financial statements.
Governmental Funds
General Fund is the chief operating fund of the City of Rosemead. It is used to account all financial resources, except
those required to be accounted for in another fund. The General Fund is always reported as a “major fund”. The fund
balance of the City’s General Fund increased by $2.6 million during the current year. Highlights of the change in fund
balance are presented below:
•Total General Fund revenues of $33.2 million exceeded expenditures of $30.3 million.
•The fiscal year's fund revenues increased by $2.0 million from the previous fiscal year. There were increases
in property taxes of $0.7 million due to higher market value of existing homes and the construction of new
residential and commercial property. Sales taxes increased by $0.1 million largely due to the restaurants and
hotels group. Transient occupancy taxes increased by $0.08 million due to continued recovery from pandemic-
related impacts. Franchise tax fees increased by $0.06 million primarily due to an annual adjustment based on
the Consumer Price Index (CPI), which accounts for inflation. In addition, Licenses and permits grew by $0.5
million due to an overall increase in building activity.
•Due to increases in General Government, Community Development, Parks and Recreation, and Public Works,
General fund expenditures were $2.3 million higher than the previous fiscal year. The majority of the cost
increase was attributable to salary and benefits of $1.7 million, legal services increase by $0.2 million, utilities
by $0.1 million, and contract services for building permits increase by $0.3 million.
•General Fund Budget Analysis. The budget, as adopted for 2024-25 contained $31.1 million in estimated
revenue and $30.7 million in appropriations. This projected a $0.2 million surplus for the fiscal final financial
results indicate that there was a revenue of $33.2 million, which exceeded the expenditures of $30.3 million.
As a result, there was a positive addition of $2.9 million to the fund balance of the General Fund prior to
interfund transfers.
Table 3. Budget Cycle Summary
2024-25 2024-25 2024-25 Variance with % Actuals to
Adopted Budget Final Actual Final Budget Amended Budget
Total revenue $ 31,123,100 $ 31,123,100 $ 33,198,220 $ 2,075,120 6.7%
Total expenditures 30,693,700 30,908,615 30,321,161 587,454 1.9%
Net $ 429,400 $ 214,485 $ 2,877,059 $ 2,662,574 8.6%
The City’s General Fund collected revenues of $2.1 million more, equal to 6.7% higher, in comparison to the final
budgeted estimates. Revenue from property taxes, franchise fees, building permits, parks and recreation programs,
and use of money and property were all higher than expected, contributing $0.2 more revenue than budgeted.
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
38
Property tax revenue was $361 thousand more than budgeted due to growth in the assessed valuation of properties.
Charges for services were $85 thousand more than budgeted, primarily due to parks and recreation programs and an
increase in recreation facility rentals. The use of money and property was $0.7 million more than the budget due to the
increase in the value of the city’s investment earnings at the end of the year
The General Fund expenditure budget ended the year with a positive variance of $0.6 million, primarily attributable to
savings in General government departments. Additional savings were realized through lower contingency
expenditures, personnel cost reductions due to vacancies, and decreased contract service spending. Public Safety
expenditures were $0.5 million below budget as a result of reduced law enforcement contract costs and lower animal
control service activity. These favorable variances were partially offset by higher than anticipated water utility charges
within Public Works for $167 thousand, as well a increased in salary and wages costs for part-time Aquatics personnel
in the the Parks and Recreation department for $95 thousand.
American Rescue Plan Act. In March of 2021, President Biden signed the American Rescue Plan Act (ARPA) of 2021
into law. The $1.9 trillion package is designed to combat the COVID-19 pandemic, as well as its public health and
economic consequences, and the city received $17.9 million as part of it. On April 26, 2022, the City Council accepted
the ARPA Final Rule's standard revenue loss allowance of $10 million, which was then transferred from the ARP fund,
which received the funds, to the SLFRF fund, which was established to track the expenditure of the $10 million.
Several Council meetings were held to discuss the application of the $10 million standard revenue loss allowance and
the remaining $2.5 million ARPA funds, which were partially expended in Fiscal Year 2024 and partially reflected in the
Fiscal Year 2025 Budget.
Grants Fund. Accounts for non-repayable funds disbursed or given by Federal, State, County, and Special District
Entities. The Grands Fund is used to fund a specific project or program which requires some level of compliance,
reporting, and auditing.
Home Fund. Formerly a non-major fund, the Department of Housing and Urban Development (HUD) allocates funds to
the City for the purpose of expanding the City's supply of decent, safe, sanitary, and affordable housing for very low
and low-income families. Through this fund, the City provides funding in the form of a silent second loan to
homebuyers for the purpose of acquiring housing within the City of Rosemead. This loan is forgiven at a rate of 25%
every five years and becomes fully forgivable at the commencement of the 21st year. The total loan provided to the
homeowners at the end of the fiscal year was $1.6 million.
Non-Major Funds. The Non-Major Governmental Funds show a combined fund balance total of $31.6 million, an
increase of $5.0 million. These are the traditional MTA Local Return Funds, State Gas Tax, Street Lighting, CDBG,
AQMD, and SB1 funds that are very highly restricted.
Cash Management
To obtain flexibility in cash management, the city employs a pooled cash system. Under the pooled cash concept, the
City invests the cash of all funds with maturity planned to coincide with cash needs. Idle cash is invested in certain
eligible securities as constrained by law and further limited by the City’s Investment Policy. The goals of the City’s
Investment Policy are safety, liquidity, and yield.
Capital Assets and Debt Administration
Capital Assets. The City of Rosemead’s investment in capital assets for its governmental activities as of June 30,
2025, amounts to $56.3 million (net of accumulated depreciation and amortization). This investment in capital assets
includes land, buildings, and improvements, machinery and equipment, park facilities, roads, highways, bridges, and
construction in progress. The Public Works Department completed seven major projects during the year, including
various Residential Street Resurfacing, New Avenue Rehabilitation, Mission Drive Pedestrian Beacon System (Traffic
Signals), Strathmore Street Roadway Rehabilitation, Concrete Replacement, Rosemead Restroom Adjacent to Aquatic
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
Financial Analysis of Funds (Continued)
39
Center, and Roof Replacement at Public Works Office and Warehouse Building. The projects were funded by a variety
of sources, including RMRA, TDA 3, ARPA, Measure M, Grants, and the Street Lighting District.
Additional information on the City of Rosemead’s capital assets can be found in Note 7, found on page 90 of the Basic
Financial Statements.
Table 4. Summary of Activities - Capital Assets
Governmental Activities
2025 2024
Capital assets not subject to depreciation/
amortization:
Land $ 6,560,869 $ 6,560,869
Construction in progress 3,647,956 2,343,852
Depreciable capital assets:
Buildings 12,914,178 12,838,911
Improvements other than buildings 3,206,495 3,050,971
Machinery and equipment 392,851 472,303
Autos and trucks 194,205 127,394
Furniture and office equipment 2,346 5,160
Subscription assets 101,847 6,224
Lease assets 179,148 185,647
Infrastructure 29,059,292 28,323,706
Total capital assets, net $ 56,259,187 $ 53,915,037
Debt Administration
At the end of the current fiscal year, the Successor Agency for the Rosemead Community Commission had total
bonded debt outstanding of $15.1 million, a decrease of $1.4 million from the prior year. Of this amount, all of it is
backed by future property tax increment revenue. For more detailed information about the Successor’s Agency Long
Term Debt, please refer to Note 15 on pages 107-109 of the Basic Financial Statements.
Other Long-Term Liabilities
As of June 30, 2025, the City’s governmental activities had $ 13.7 million in other long-term liabilities, which included
the net pension liability, other post-employment benefits obligations, leases and subscriptions payable, and
compensated absences. This represented a $1.2 million increase from the previous year’s total of $12.5 million. The
increase was primarily due to the implementation of GASB 101 Compensated Absences. The increase was partially
offset in net pension and net other post-employment benefits obligations liabilities, and lease payables for $296
thousand and $34 thousand, respectively.
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
Capital Assets and Debt Administration (Continued)
40
Table 5. Long-Term Liabilities
Governmental Activities
2025 2024 Change
Net Pension liability $ 10,796,104 10,869,642 $ (73,538)
Net OPEB liability 397,823 620,645 (222,822)
Leases payable 211,143 245,037 (33,894)
Subscriptions payable 43,147 6,700 36,447
Compensated absences payable 2,256,851 743,427 1,513,424
Total long-term liabilities $ 13,705,068 $ 12,485,451 $ 1,219,617
Additional information on Long Term Liabilities can be found on Note 6, Note 8, Note 10, and Note 12.
Economic Factors and Next Year’s Budget
While the primary emphasis of this Annual Report is the financial state of the City for the fiscal year that concluded on
June 30, 2025, management demonstrated attentiveness to budget requests during the preparation of the budget for
Fiscal Year 2025-26. Furthermore, early financial planning and implementation continue to be crucial for maintaining a
healthy fund balance. The budget for Fiscal Year 2025-26 incorporated strategic financial planning through continued
contributions to Internal Service Funds, which serves to provide support for the long-term maintenance, improvements,
and replacements of public facilities.
The return to normalcy was aided by stimulus programs; however, the economic recovery was accompanied by
elevated levels of inflation. Local economic conditions in Rosemead remain influenced by the repercussions of
inflation. In addition to the federal funds already received from the American Rescue Plan Act, the City will continue to
pursue federal and state assistance. Staff remains ready to recommend adjustments to revenues and expenditures as
events unfold and is committed to providing the highest quality of services given the resources available. The City has
maintained its strong financial position through prudent and sound fiscal management and will continue to monitor key
economic indicators, sources of revenues, and spending levels as part of its sound conservative fiscal approach.
Contacting Financial Management
This financial report is designed to provide our citizens, customers, investors, and creditors with a general overview of
the City’s finances and to demonstrate the City’s accountability for the money it receives. If you have questions about
this report or need additional financial information, contact the Finance department, at the City of Rosemead, 8838
East Valley Boulevard, Rosemead, California 91770.
CITY OF ROSEMEAD
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2025
Capital Assets and Debt Administration (Continued)
41
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42
BASIC FINANCIAL STATEMENTS
Basic Financial Statements
43
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44
Government-Wide Financial Statements
45
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46
Statement of Net Position
Governmental
Activities
ASSETS
Cash and investments $ 87,409,331
Receivables (net of uncollectibles):
Accounts 1,224,646
Accrued interest 789,014
Due from other governments 3,282,058
Notes and loans 5,393,827
Leases 98,357
Net pension asset 500,884
Prepaid costs 137,281
Capital assets (not being depreciated) 10,208,825
Capital assets (net of accumulated depreciation/amortization) 46,050,362
Total assets 155,094,585
DEFERRED OUTFLOWS OF RESOURCES
Pension-related 3,537,425
OPEB-related 324,141
Total deferred outflows of resources 3,861,566
LIABILITIES
Accounts payable 5,430,956
Pass-through payables 142,309
Accrued liabilities 437,940
Accrued interest payable 4,732
Deposits payable 681,902
Unearned revenues 4,028,310
Noncurrent liabilities:
Due within one year:
Leases, subscriptions and compensated absences payable 400,419
Due in more than one year:
Leases, subscriptions and and compensated absences payable 2,110,722
Net OPEB liability 397,823
Net pension liability 10,796,104
Total liabilities 24,431,217
DEFERRED INFLOWS OF RESOURCES
Pension-related 270,685
OPEB-related 347,686
Lease-related 98,357
Total deferred inflows of resources 716,728
NET POSITION
Net investment in capital assets 55,862,588
Restricted:
Community services 4,182,581
Low- and moderate-income housing 2,464,673
Public works 22,684,897
Capital projects 7,514,938
Pension 500,884
Unrestricted 40,597,645
Total net position $ 133,808,206
CITY OF ROSEMEAD
Statement of Net Position
June 30, 2025
See accompanying Notes to the Basic Financial Statements 47
Statement of Activities
Program Revenues
Net
(Expenses)
Revenues and
Changes in
Net Position
Expenses
Charges for
Services
Operating
Contributions
and Grants
Capital
Contributions
and Grants
Governmental
Activities
Functions/Programs:
Primary government:
Governmental activities:
General government $ 6,178,285 $ 408,789 $ 1,392,556 $ 429,543 $ (3,947,397)
Public safety 12,896,287 804,852 194,663 1,323,863 (10,572,909)
Community development 6,467,687 5,889,634 5,058,025 — 4,479,972
Parks and recreation 4,965,700 1,128,747 — — (3,836,953)
Public works 12,817,124 3,652,826 4,126,432 638,744 (4,399,122)
Parks and recreation — — — — —
Interest on long-term debt 42,759 — — — (42,759)
Total primary government $ 43,367,842 $ 11,884,848 $ 10,771,676 $ 2,392,150 (18,319,168)
General revenues:
General revenues:
Property taxes 12,960,873
Transient occupancy taxes 2,320,163
Sales taxes 7,106,216
Franchise taxes 1,899,241
Other taxes 138,634
Use of money and property 4,169,663
Miscellaneous income 87,443
Total general revenues 28,682,233
Change in net position 10,363,065
Net position-beginning 124,601,682
Restatement - change in accounting principle (1,156,541)
Net position-beginning 123,445,141
Net position-ending $ 133,808,206
End of Government-Wide Financial Statements.
CITY OF ROSEMEAD
Statement of Activities
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 48
Fund Financial Statements
49
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50
Government Fund Financial Statements
51
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52
Balance Sheet - Governmental Funds
Special Revenue Funds
General Fund
City Grants
Fund
American
Rescue Plan HOME Fund
ASSETS
Cash and investments $ 37,214,820 $ 1,389,746 $ 3,286,555 $ –
Receivables (net of allowance for uncollectible):
Accounts 1,071,848 – – –
Accrued interest 373,214 12,899 – –
Due from other governments 1,583,197 187,400 – 101,975
Notes and loans 251,777 – – 5,142,050
Leases 98,357 – – –
Prepaid costs 137,030 – – –
Due from other funds 686,302 – – –
Total assets $ 41,416,545 $ 1,590,045 $ 3,286,555 $ 5,244,025
LIABILITIES
Accounts payable $ 2,919,964 $ 16,602 $ 642,820 $ 31,054
Retentions payable – – 94,650 –
Accrued liabilities 394,728 – 14,582 –
Deposits payable 635,219 – – –
Due to other funds – – – 219,930
Unearned revenues – 1,493,807 2,534,503 –
Total liabilities 3,949,911 1,510,409 3,286,555 250,984
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues 340,195 187,400 – 2,086,405
Lease-related 98,357 – – –
Total deferred inflows of resources 438,552 187,400 – 2,086,405
FUND BALANCES (DEFICITS)
Nonspendable 388,807 – – –
Restricted – – – 2,906,636
Committed 12,661,499 – – –
Assigned 136,038 – – –
Unassigned 23,841,738 (107,764) – –
Total fund balances (deficits) 37,028,082 (107,764) – 2,906,636
Total liabilities, deferred inflows of resources,
and fund balances (deficits)$ 41,416,545 $ 1,590,045 $ 3,286,555 $ 5,244,025
CITY OF ROSEMEAD
Balance Sheet - Governmental Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements 53
Total
Nonmajor
Funds
Total
Governmental
Funds
ASSETS
Cash and investments $ 32,178,444 $ 74,069,565
Receivables (net of allowance for uncollectible):
Accounts 147,798 1,219,646
Accrued interest 287,577 673,690
Due from other governments 1,409,486 3,282,058
Notes and loans – 5,393,827
Leases – 98,357
Prepaid costs 251 137,281
Due from other funds – 686,302
Total assets $ 34,023,556 $ 85,560,726
LIABILITIES
Accounts payable $ 1,578,855 $ 5,189,295
Retentions payable 21,255 115,905
Accrued liabilities 28,630 437,940
Deposits payable 46,683 681,902
Due to other funds 466,372 686,302
Unearned revenues – 4,028,310
Total liabilities 2,141,795 11,139,654
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues 249,286 2,863,286
Lease-related – 98,357
Total deferred inflows of resources 249,286 2,961,643
FUND BALANCES (DEFICITS)
Nonspendable 251 389,058
Restricted 31,854,090 34,760,726
Committed – 12,661,499
Assigned – 136,038
Unassigned (221,866) 23,512,108
Total fund balances (deficits) 31,632,475 71,459,429
Total liabilities, deferred inflows of resources,
and fund balances (deficits)$ 34,023,556 $ 85,560,726
CITY OF ROSEMEAD
Balance Sheet - Governmental Funds (Continued)
June 30, 2025
See accompanying Notes to the Basic Financial Statements 54
Reconciliation of the Governmental Funds Balance Sheet of Governmental Funds to the Statement of Net Position
Amounts reported for governmental activities in the Statement of Net Position are
different because:
Total fund balances - governmental funds $ 71,459,429
Capital assets, net of accumulated depreciation/amortization, used in
governmental activities are not financial resources and, therefore, are not
reported in the funds. 55,384,923
Differences between expected and actual experiences, assumption changes and
net differences between projected and actual earnings, and contributions
subsequent to the measurement date for the postretirement benefits (pension
and OPEB) are recognized as deferred outflows of resources and deferred
inflows of resources on the Statement of Net Position.
Deferred outflows-pension related 3,537,425
Deferred outflows-OPEB related 324,141
Deferred inflows-pension related (270,685)
Deferred inflows-OPEB related (347,686)
Total deferred outflows and inflows related to postemployment benefits 3,243,195
Other long-term assets that are not available to pay for current period
expenditures and, therefore, are either labeled unavailable or not reported in the
funds.
Unavailable revenues 2,863,286
Net pension asset 500,884
Total other long-term assets 3,364,170
Internal service funds provide services to other funds on a cost-reimbursement
basis. The assets, deferred outflows of resources, liabilities, and deferred inflows
of resources of the internal service funds are included in governmental activities
in the Statement of Activities. 14,018,410
Long-term liabilities that are not due and payable in the current period, and
therefore, are not reported in the funds.
Leases payable (211,143)
Compensated absences (2,256,851)
Net pension liability (10,796,104)
Net OPEB liability (397,823)
Total long-term liabilities (13,661,921)
Net position of governmental activities $ 133,808,206
CITY OF ROSEMEAD
Reconciliation of the Governmental Funds Balance Sheet of Governmental Funds to the Statement of Net
Position
June 30, 2025
See accompanying Notes to the Basic Financial Statements 55
THIS PAGE INTENTIONALLY LEFT BLANK
56
Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds
Special Revenue Funds
Formerly
Nonmajor
Fund
City Grants
Fund
American
Rescue Plan HOME FundGeneral Fund
REVENUES
Taxes $ 24,188,307 $ – $ – $ –
Licenses and permits 4,131,334 – – –
Intergovernmental 749,343 279,941 2,771,157 722,815
Charges for services 1,347,930 – – –
Use of money and property 2,093,942 76,062 – 11,432
Fines and forfeitures 630,021 – – –
Miscellaneous 57,343 – – –
Total revenues 33,198,220 356,003 2,771,157 734,247
EXPENDITURES
Current:
General government 5,824,202 – 202,998 –
Public safety 12,570,051 27,960 – –
Community development 2,576,011 – 19,599 2,007,572
Parks and recreation 4,597,211 – – –
Public works 4,505,604 16,694 121,924 –
Capital outlay 134,412 337,099 2,426,636 –
Debt service:
Principal retirement 91,755 – – –
Interest and fiscal charges 21,915 – – –
Total expenditures 30,321,161 381,753 2,771,157 2,007,572
Excess (deficiency) of revenues
over (under) expenditures 2,877,059 (25,750) – (1,273,325)
OTHER FINANCING SOURCES (USES)
Transfers in 480,414 – – –
Transfers out (900,000) – – –
Lease arrangements entered into 104,706 – – –
Total other financing sources (uses) (314,880) – – –
Net change in fund balances 2,562,179 (25,750) – (1,273,325)
Fund balances-beginning 34,465,903 (82,014) – –
Change within financial reporting entity – – – 4,179,961
Fund balances (deficit)-beginning, as restated 34,465,903 (82,014) – 4,179,961
Fund balances (deficit)-ending $ 37,028,082 $ (107,764) $ – $ 2,906,636
CITY OF ROSEMEAD
Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 57
Total Total
Nonmajor Governmental
Funds Funds
REVENUES
Taxes $ 236,820 $ 24,425,127
Licenses and permits — 4,131,334
Intergovernmental 11,666,822 16,190,078
Charges for services 519,623 1,867,553
Use of money and property 1,380,646 3,562,082
Fines and forfeitures — 630,021
Developer contributions 466,563 466,563
Miscellaneous 7,167 64,510
Total revenues 14,277,641 51,337,268
EXPENDITURES
Current:
General government 20,405 6,047,605
Public safety 99,594 12,697,605
Community development 1,844,366 6,447,548
Parks and recreation 81,638 4,678,849
Public works 5,164,013 9,808,235
Capital outlay 1,566,073 4,464,220
Debt service: —
Principal retirement 53,545 145,300
Interest and fiscal charges — 21,915
Total expenditures 8,829,634 44,311,277
Excess (deficiency) of revenues
over (under) expenditures 5,448,007 7,025,991
OTHER FINANCING SOURCES (USES)
Transfers in — 480,414
Transfers out (480,414) (1,380,414)
Lease arrangements entered into — 104,706
Total other financing sources (uses) (480,414) (795,294)
Net change in fund balances 4,967,593 6,230,697
Fund balances-beginning 30,844,843 65,228,732
Change within financial reporting entity (4,179,961) —
Fund balances (deficit)-beginning 26,664,882 65,228,732
Fund balances (deficit)-ending $ 31,632,475 $ 71,459,429
CITY OF ROSEMEAD
Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds (Continued)
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 58
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities
Amounts reported for governmental activities in the Statement of Activities are different
because:
Net change in fund balances - total governmental funds:$ 6,230,697
Governmental funds report capital outlays are expenditures. However, in the Statement
of Activities, the cost of these assets is allocated over their estimated useful lives and
reported as depreciation/amortization expense. This is the amount by which capital
outlays exceeded depreciation/amortization expense in the current period.
Capital outlay 4,415,754
Depreciation/amortization expense (2,891,123)
Total adjustment 1,524,631
Revenues in the Statement of Activities that do not provide current financial resources
are not reported as revenues in the funds.
Earned but unavailable grant revenues 1,763,125
Total adjustment 1,763,125
Bond and other debt proceeds provide current financial resources to governmental
funds, but issuing debt increases long-term liabilities in the Statement of Net Position.
Repayment of bond and other debt principal is an expenditure in the governmental
funds, but repayment reduces long-term liabilities in the Statement of Net Position. Also,
governmental funds report the effect of premiums, discounts, and similar items when
debt is first issued, whereas these amounts are deferred and amortized in the
Statement of Activities.
Leases issued (104,706)
Principal payments 145,300
Total adjustment 40,594
Internal service funds provide services to other funds on a cost-reimbursement basis.
The net revenue of certain activities of internal service funds is reported with
governmental activities. 1,345,734
Some expenses reported in the Statement of Activities do not require the use of current
financial resources and, therefore, are not reported as expenditures in the governmental
funds.
Compensated absences (356,883)
Changes in pension liabilities and related deferred outflows and inflows of resources (299,043)
Changes in OPEB liabilities and related deferred outflows and inflows of resources 114,210
Total adjustment (541,716)
Change in net position of governmental activities $ 10,363,065
CITY OF ROSEMEAD
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of
Governmental Funds to the Statement of Activities
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 59
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See accompanying Notes to the Basic Financial Statements 60
Proprietary Fund Financial Statements
61
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62
Statement of Net Position - Proprietary Funds
Governmental
Activities
Internal
Service Funds
ASSETS
Current assets:
Cash and investments $ 13,339,766
Receivables (net of uncollectibles):
Accounts 5,000
Accrued interest 115,324
Total current assets 13,460,090
Noncurrent:
Capital assets, net 874,264
Total noncurrent assets 874,264
Total assets 14,334,354
LIABILITIES
Current liabilities:
Accounts payable 268,065
Accrued interest 4,732
Subscription Payable - Current 14,497
Total current liabilities 287,294
Noncurrent liabilities:
Subscription payable 28,650
Total noncurrent liabilities 28,650
Total liabilities 315,944
NET POSITION
Net investment in capital assets 804,713
Unrestricted 13,213,697
Total net position $ 14,018,410
CITY OF ROSEMEAD
Statement of Net Position
Proprietary Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements 63
Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds
Governmental
Activities
Internal
Service Funds
OPERATING REVENUES
Miscellaneous $ 22,933
Total operating revenues 22,933
OPERATING EXPENSES
Contractual services 86,318
Depreciation and amortization 77,618
Total operating expenses 163,936
Operating income (loss) (141,003)
NONOPERATING REVENUES (EXPENSES)
Interest and fiscal charges (20,844)
Use of money and property 607,581
Total nonoperating revenues (expenses) 586,737
Income (loss) before transfers 445,734
Transfers in 900,000
Change in net position 1,345,734
Net position-beginning 12,672,676
Net position-ending $ 14,018,410
CITY OF ROSEMEAD
Statement of Revenues, Expenses and Changes in Net Position
Proprietary Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 64
Statement of Cash Flows - Proprietary Funds
Governmental
Activities
Internal
Service Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Payments to suppliers and service providers $ (17,800)
Other receipts (payments) 183,914
Net cash provided by (used for)
operating activities 166,114
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds 900,000
Net cash provided by (used for)
noncapital financing activities 900,000
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition and construction of capital assets (717,964)
Principal paid on capital debt (109,623)
Interest paid on capital debt (16,112)
Net cash provided by (used for)
capital and related financing activities (843,699)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments 580,020
Net cash provided by (used for)
investing activities 580,020
Net increase (decrease) in
cash and cash equivalents 802,435
Cash and cash equivalents-beginning 12,537,331
Cash and cash equivalents-ending $ 13,339,766
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH PROVIDED BY (USED FOR)
OPERATING ACTIVITIES
Operating income (loss)$ (141,003)
Adjustments to reconcile operating income (loss) to
net cash provided by (used for) operating activities:
Depreciation/amortization expense 77,618
(Increase) decrease in accounts receivable (5,000)
Increase (decrease) in accounts payable 234,499
Total adjustments 307,117
Net cash provided by (used for)
operating activities $ 166,114
SCHEDULE OF NON-CASH NONCAPITAL, CAPITAL,
AND INVESTING ACTIVITIES
Subscription proceeds $ (152,770)
Purchase of capital assets on account $ (26,404)
CITY OF ROSEMEAD
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 65
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66
Fiduciary Fund Financial Statements
67
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68
Statement of Fiduciary Net Position - Fiduciary Funds
Private
Purpose
Trust Fund
ASSETS
Cash and investments $ 4,748,224
Receivables:
Accrued interest 30,368
Notes and loans 201,314
Prepaid costs 86,139
Total assets 5,066,045
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding 99,210
Total deferred outflows of resources 99,210
LIABILITIES
Accrued interest 163,105
Due to other governments 470,613
Bonds payable - due within one year 1,305,000
Bonds payable - due in more than one year 13,844,354
Total liabilities 15,783,072
NET POSITION (DEFICIT)
Restricted for the dissolution of the former RDA (10,617,817)
Total net position (deficit)$ (10,617,817)
CITY OF ROSEMEAD
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements 69
Statement of Changes in Fiduciary Net Position - Fiduciary Funds
Private
Purpose
Trust Fund
ADDITIONS
Intergovernmental $ 2,517,914
Use of money and property 162,445
Total additions 2,680,359
DEDUCTIONS
Administrative 103,215
Interest and fiscal charges 577,014
Contributions to other governments 761,871
Total deductions 1,442,100
Net increase (decrease) in fiduciary net position 1,238,259
Net position-beginning (11,856,076)
Net position-ending $ (10,617,817)
CITY OF ROSEMEAD
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 70
Notes to The Financial Statements
71
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72
A. The Reporting Entity
The City of Rosemead, California, ("the City") was incorporated in August 1959 under the general laws of the
State of California. The City operates under an elected Council/City Manager form of government. It provides a
broad range of services to its residents, including general government, public safety, streets, sanitation and
health, cultural and park facilities, and social services.
Many of the functions often provided by municipal government are, in the City, provided by special districts.
Examples of some of these special districts, which usually encompass areas larger than the City itself, are the
Fire Protection District, the Library District, and the County Flood Control District. Certain other governmental
functions are paid for by the City but performed by a variety of other public and private agencies under contract.
Some of the contracts now in effect are for police, information technology, and building and safety.
The accounting policies of the City conform to generally accepted accounting principles as applicable to
governments. As required by generally accepted accounting principles, these financial statements present the
government and its component units, which are entities for which the government is considered to be financially
accountable. The City is considered to be financially accountable for an organization if the City appoints a voting
majority of that organization's governing body and the City is able to impose its will on that organization or there is
a potential for that organization to provide specific financial benefits to or impose specific financial burdens on the
City. The City is also considered to be financially accountable if an organization is fiscally dependent (i.e., it is
unable to adopt its budget, levy taxes, set rates or charges, or issue bonded debt without approval from the City).
In certain cases, other organizations are included as component units if the nature and significance of their
relationship with the City are such that their exclusion would cause the City's financial statements to be
misleading or incomplete.
Based upon the above criteria, the blended component units of the City are the Rosemead Financing Authority
(the Authority) and the Rosemead Housing Development Corporation (the Corporation).
Rosemead Financing Authority
The Authority provides for the financing or refinancing of public capital improvements and working capital
requirements of local agencies that enter into contractual arrangements with the Authority. Separate financial
statements are not prepared.
Rosemead Housing Development Corporation
Since the governing bodies of the aforementioned entities are substantially the same as the City’s governing
board for these component units, and a financial benefit or burden relationship exists for all of the City's
component units, these are all considered to be blended component units. Blended component units, although
legally separate entities, are, in substance, part of the City's operations. Therefore, data from these units are
reported with the funds of the primary government, the City.
B. Basis of Accounting and Measurement Focus
The basic financial statements of the City are composed of the following:
◦Government-wide financial statements
◦Fund financial statements
◦Notes to the basic financial statements
Financial reporting is based upon all Governmental Accounting Standards Board pronouncements.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
73
Government-wide Financial Statements
Government-wide financial statements display information about the reporting government as a whole, except for
its fiduciary activities. These statements include separate columns for the governmental and business-type
activities of the primary government (including its blended component units), as well as its discretely presented
component units. The City of Rosemead has no business-type activities and no discretely presented component
units. Eliminations have been made in the Statement of Activities so that certain allocated expenses are recorded
only once (by function to which they were allocated). However, general governmental expenses have not been
allocated as indirect expenses to the various functions of the City.
Government-wide financial statements are presented using the economic resources measurement focus and the
accrual basis of accounting. Under the economic resources measurement focus, all (both current and long-term)
economic resources and obligations of the reporting government are reported in the government-wide financial
statements. Basis of accounting refers to when revenues and expenditures are recognized in the accounts and
reported in the financial statements. Under the accrual basis of accounting, revenues, expenses, gains, losses,
assets, and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange
takes place. Revenues, expenses, gains, losses, assets, and liabilities resulting from nonexchange transactions
are recognized in accordance with generally accepted accounting principles.
Program revenues include charges for services, special assessments, and payments made by parties outside of
the reporting government's citizenry if that money is restricted to a particular program. Program revenues are
netted with program expenses in the statement of activities to present the net cost of each program.
Amounts paid to acquire capital assets are capitalized as assets in the government-wide financial statements,
rather than reported as an expenditure. Proceeds of long-term debt are recorded as a liability in the government-
wide financial statements, rather than as other financing source. Amounts paid to reduce long-term indebtedness
of the reporting government are reported as a reduction of the related liability, rather than as an expenditure.
Fund Financial Statements
The underlying accounting system of the City is organized and operated on the basis of separate funds, each of
which is considered to be a separate accounting entity. The operations of each fund are accounted for with a
separate set of self-balancing accounts that comprise its assets and deferred outflows of resources, liabilities and
deferred inflows of resources, fund balance or net position as appropriate, and 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.
Fund financial statements for the primary government's governmental, proprietary, and fiduciary funds are
presented after the government-wide financial statements. These statements display information about major
funds individually and non-major funds in the aggregate for governmental and enterprise funds. Fiduciary
statements include financial information for fiduciary funds and similar component units. Fiduciary funds of the
City primarily represent assets held by the City in custodial capacity for other individuals or organizations.
Governmental Funds
In the fund financial statements, governmental funds are presented using the modified-accrual basis of
accounting. Their revenues are recognized when they become measurable and available as net current assets.
Measurable means that the amounts can be estimated, or otherwise determined. Available means that the
amounts were collected during the reporting period or soon enough thereafter to be available to finance the
expenditures accrued for the reporting period. The City uses a sixty-day availability period except for grants which
is 120 days.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
74
Revenue recognition is subject to the measurable and available criteria for the government funds in the fund
financial statements. Exchange transactions are recognized as revenues in the period in which they are earned
(i.e., the related goods or services are provided). Locally imposed derived tax revenues are recognized as
revenues in the period in which the underlying exchange transaction on which they are based takes place.
Imposed non-exchange transactions are recognized as revenues in the period for which they were imposed. If
the period of use is not specified, they are recognized as revenues when an enforceable legal claim to the
revenues arises or when they are received, whichever occurs first. Government-mandated and voluntary non-
exchange transactions are recognized as revenues when all applicable eligibility requirements have been met.
In the fund financial statements, governmental funds are presented using the current financial resources
measurement focus. This means that only current assets and current liabilities are generally included on their
balance sheets. The reported fund balance (net current assets) is considered to be a measure of "available
spendable resources." Governmental fund operating statements present increases (revenues and other financing
sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said
to present a summary of sources and uses of "available spendable resources" during a period.
Non-current portions of long-term receivables due to governmental funds are reported on their balance sheets in
spite of their spending measurement focus. However, special reporting treatments are used to indicate that they
should not be considered "available spendable resources," since they do not represent net current assets.
Recognition of governmental fund type revenues represented by noncurrent receivables are deferred until they
become current receivables.
Because of their spending measurement focus, expenditure recognition for governmental fund types excludes
amounts represented by noncurrent liabilities. Since they do not affect net current assets, such long-term amounts
are not recognized as governmental fund type expenditures or fund liabilities.
Amounts expended to acquire capital assets are recorded as expenditures in the year that resources were
expended, rather than as fund assets. The proceeds of long-term debt are recorded as other financing sources
rather than as a fund liability. Amounts paid to reduce long-term indebtedness are reported as fund expenditures.
When both restricted and unrestricted resources are combined in a fund, expenditures are considered to be paid
first from restricted resources, and then from unrestricted resources.
Proprietary Funds
Proprietary fund financial statements include a Statement of Net Position, a Statement of Revenues, Expenses
and Changes in Net Position, and a Statement of Cash Flows for all proprietary funds.
Proprietary funds are accounted for using the “economic resources” measurement focus and the accrual basis of
accounting. Accordingly, all assets and liabilities (whether current or noncurrent) are included on the Statement of
Net Position. The Statement of Revenues, Expenses, and Changes in Net Position presents increases (revenue)
and decreases (expenses) in total 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 liability is incurred.
Operating revenues in the proprietary funds are those revenues that are generated from the primary operations of
the fund. All other revenues are reported as nonoperating revenues. Operating expenses are those expenses that
are essential to the primary operations of the fund. All other expenses are reported as nonoperating expenses.
Fiduciary Funds
The City maintains one fiduciary fund type, a private-purpose trust fund which uses the economic resources
measurement focus and the accrual basis of accounting.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
75
C. Major and Fiduciary Fund Types
The City’s major governmental funds are as follows:
◦General Fund – Accounts for all financial resources except those required to be accounted for in another
fund. These resources are devoted to financing the general services that the City performs for its
residents.
◦City Grants Fund – Accounts for the City’s portion of the funds received through various state, local, and
federal grants not specifically noted above.
◦American Rescue Plan Fund – Accounts for the City’s portion of the funds received through the American
Rescue Plan Act. The Act provides a total of $250 billion in assistance to states, counties, municipalities,
territories, and tribal governments to cover expenses, make up for lost revenue and east the overall
economic impact from the COVID-19 pandemic.
◦HOME Program Fund – Accounts for the City’s portion of the funds received through HUD for various
housing projects
The City’s fiduciary funds are as follows:
◦Private-purpose Trust Fund – Accounts for the activity of the Successor Agency to the Community
Development Commission of the City of Rosemead.
Additionally, the City reports:
◦Special Revenue Funds – Account for and report the proceeds of specific revenue sources that are
restricted or committed to expenditure for specified purposes other than debt service or capital projects.
All are currently reported in nonmajor governmental funds.
◦Capital Projects Fund – Account for and report the proceeds of specific revenue sources that are
restricted or committed to expenditure for capital projects.
◦Internal Service Funds – Account for the financing of goods and services provided by one department to
other departments on a cost reimbursement basis. The City has internal service funds for equipment
replacement, technology replacement, and infrastructure replacement.
D. Investments
For financial reporting purposes, investments are adjusted to their fair value whenever the difference between fair
value and the carrying amount is material.
Changes in fair value that occur during a fiscal year are recognized as investment income reported for that fiscal
year. Investment income includes interest earnings, changes in fair value, and any gains or losses realized upon
the liquidation or sale of investments.
The City pools cash and investments of all funds, except for assets held by fiscal agents. Each fund's share in this
pool is displayed in the accompanying financial statements as cash and investments. Investment income earned
by the pooled investments is allocated to the various funds based on each fund's average cash and investment
balance.
E. Cash Equivalents
For purposes of the statement of cash flows, cash equivalents are defined as short-term, highly liquid investments
that are both readily convertible to known amounts of cash or so near their maturity that they present insignificant
risk of changes in value because of changes in interest rates. Cash equivalents also represent the proprietary
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
76
funds' share in the cash and investment pool of the City. Cash equivalents have an original maturity date of three
months or less from the date of purchase. For purposes of the statement of cash flows, the entire balance of cash
and investments on the combined balance sheet for the internal service fund is considered cash and cash
equivalents.
F. Capital Assets
Capital assets (including infrastructure) are recorded at cost where historical records are available and at an
estimated historical cost where no historical records exist. Donated capital assets, donated works of art and
similar items and capital assets received in a service concession arrangement are recorded at acquisition value at
the point of acquisition. Generally, capital asset purchases in excess of $10,000 are capitalized if they have an
expected useful life of one or more years.
Capital assets include public domain (infrastructure) general capital assets consisting of certain improvements
including roads, streets, sidewalks, medians, and storm drains.
Capital assets used in operations are depreciated or amortized over their estimated useful lives using the
straight-line method in the government-wide financial statements and in the fund financial statements of the
internal service funds. Depreciation/amortization is charged as an expense against operations and accumulated
depreciation/amortization is reported on the respective Statement of Net Position.
The following schedule summarizes capital asset useful lives:
Asset Type Years
Buildings and improvements 15-50 years
Improvements other than buildings 3-15 years
Machinery and equipment 7 years
Autos and trucks 5 years
Furniture and office equipment 7 years
Lease assets 3-7 years
Subscription assets 3-5 years
Infrastructure:
Bridges 50 years
Sewer system and storm drain system 50-100 years
Medians and sidewalks 40 years
Traffic signals 30 years
Streets 20 years
G. Compensated Absences
Full-time employees earn from 10 to 16 days per year, depending upon their length of employment. Accruals are
capped at two years the employee’s annual accrual rate. Management employees also earn either 60 or 80 hours
of administrative leave based on level of management. Vacation and administrative leave hours are payable to
employees at the time used or upon termination of employment. These hours are accrued when incurred in the
government-wide level financial statements.
In accordance with generally accepted accounting principles, a liability is recorded for unused vacation and similar
compensatory leave balances since the employees’ entitlement to these balances is attributable to services
already rendered and it is probable that virtually all of these balances will be liquidated by either paid time off or
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
77
payments upon termination or retirement. All vacation is accrued when incurred in the government-wide level
financial statements
All unused vacation and administrative leave hours are accrued on the basis of an estimation of likelihood of
future settlement through cash or noncash means in the government-wide level financial statements. A current
liability is accrued in the governmental funds for employee leave benefits expected to be paid from expendable,
available financial resources as of the balance sheet date.
H. Prepaid Items
Prepaid items are reported in the governmental funds under the consumption method and are offset by a
nonspendable designation in fund balance to indicate that they are not available for appropriation and are not
expendable financial resources.
I. Fund Balance
The following classifications describe the relative strength of the spending constraints placed on the purposes for
which resources can be used:
•Nonspendable – This includes amounts that cannot be spent because they are either not in spendable
form or must be maintained intact pursuant to legal or contractual requirements, such as prepaids,
inventory, or endowments.
•Restricted – This includes amounts that can be spent only for specific purposes imposed by creditors,
grantors, contributors, or laws and regulations of other governments through enabling litigations.
•Committed – This includes amounts that can be used only for the specific purposes pursuant to
constraints imposed by formal action of the City’s highest authority, the City Council. The formal action
that is required to be taken to establish, modify, or rescind a fund balance commitment is Council
resolution.
•Assigned – 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 official
designated for that purpose. The Director of Finance has been given authority by the City Council to
assign funds for the City of Rosemead.
•Unassigned – This is the residual classification that includes all spendable amounts not contained in the
other classifications. The General Fund is the only fund that reports a positive unassigned fund balance.
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 amounts that are restricted, committed, or assigned to those purposes, it may be
necessary to report a negative unassigned fund balance in that fund.
When both restricted and unrestricted resources are available for use when an expenditure is incurred, it is the
City’s policy to use restricted resources first, then unrestricted resources as they are needed. It is the City’s policy
to consider committed amounts as being reduced first, followed by assigned amounts, and then unassigned
amounts when expenditures are incurred for purposes for which amounts in any of those unrestricted fund
balance classifications could be used.
J. Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect certain reported amounts and disclosures.
Accordingly, actual results could differ from those estimates.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
78
K. Pension Plans
For purposes of measuring the net pension liability, deferred outflows and inflows of resources related to
pensions, and pension expense, information about the fiduciary net position and additions to/deductions from the
fiduciary net position have been determined on the same basis as they are reported by the Plan Administrators.
For this purpose. Benefit payments (including refunds of employee contributions) are recognized when currently
due and payable in accordance with the benefit terms. Investments are reported at fair value. CalPERS audited
financial statements are publicly available reports that can be obtained at CalPERS’ website, at
www.calpers.ca.gov. Copies of the PARS annual financial report may be obtained from PARS, 4350 Von Karman
Avenue, Suite 100, Newport Beach, California 92660.
GASB 68 requires that the reported results must pertain to liability and asset information within certain defined
timeframes. For this report, the following timeframes are used.
CalPERS-Cost sharing Multiple-Employer Plan:
Valuation Date June 30, 2023
Measurement Date June 30, 2024
Measurement Period July 1, 2023 to June 30, 2024
PARS-Agent, Multiple Employer Plan:
Valuation Date June 30, 2024
Measurement Date June 30, 2025
Measurement Period July 1, 2024 to June 30, 2025
L. Other Post-Employment Benefit Plans (OPEB)
For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of
resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s plan
(OPEB Plan), the assets of which are held by Public Agency Retirement Services (PARS), and additions to/
deductions from the OPEB Plan’s fiduciary net position have been determined by an independent actuary. For this
purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms.
Investments are reported at fair value.
Generally accepted accounting principles require that the reported results must pertain to liability and asset
information within certain defined timeframes. For this report, the following time frames are used:
Valuation Date June 30, 2023
Measurement Date June 30, 2024
Measurement Period July 1, 2023 to June 30, 2024
M. Property Taxes
The County of Los Angeles is responsible for the assessment, levy, and collection of property taxes for all
properties within Los Angeles County and subsequently remits the amount due to the City in installments during
the year. The County is permitted by State Law (Article XIII A of the California Constitution) to levy taxes at one
percent (1%) of full market value at the time of purchase and can increase the property’s value by no more than
two percent (2%) per year. The property taxes are recorded initially in a County pool and are then allocated to
cities. Prior to the passage of Proposition 13, which established the one percent (1%) limit, Rosemead was one
of numerous cities in California that either levied no general property taxes or which levied very low rates.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
79
Because the property tax allocation after Proposition 13 was based on the allocation prior to the proposition
passage, these “no-low cities” would not have received a portion of the 1% levy. In response, the California
Legislature adopted AB 1197 which provided these cites with a portion of the County’s share of the tax levy.
The City records property taxes as revenue when received from the County, except at year-end, when property
taxes received within 60 days are accrued as revenue. Property taxes are assessed and collected each fiscal
year according to the following property tax calendar:
Lien date January 1
Levy date July 1
Due dates November 1 and February 1
Collection dates December 10 and April 10
N. Deferred Outflows and Deferred Inflows of Resources
In addition to assets, the statement of net position and balance sheet will sometimes report a separate section for
deferred outflows of resources. This separate financial statement element, deferred outflows of resources,
represents a consumption of net assets that applies to a future period(s) and so will not be recognized as an
outflow of resources (expense/ expenditure) until then. The City has two types of items that qualify for reporting in
this category. The items are deferred pension related items and deferred other post-employment benefits (OPEB)
related items.
In addition to liabilities, the statement of net position and balance sheet will sometimes report a separate section
for deferred inflows of resources. This separate financial statement element, deferred inflows of resources,
represents an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow
of resources (revenue) until that time. The City has four types of items that qualify for reporting in this category.
The first item, unavailable revenue, is reported only in the governmental funds balance sheet. The governmental
funds report unavailable revenue from intergovernmental revenues. These amounts are deferred and recognized
as an inflow of resources in the period that the amounts become available. The other items are deferred pension
related items, deferred OPEB related items, and deferred inflows related to leases.
O. Leases
Lessee: The City is a lessee for noncancellable leases of vehicles. The City recognizes a lease liability and an
i n t a n g i b l e r i g h t - t o - u s e l e a s e a s s e t ( l e a s e a s s e t ) i n t h e g o v e r n m e n t - w i d e f i n a n c i a l s t a t e m e n t s . A t t h e
commencement of a lease, the City initially measures the lease liability at the present value of payments expected
to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease
payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease
payments made at or before the lease commencement date, plus certain initial direct costs.
S u b s e q u e n t l y , t h e l e a s e a s s e t i s a m o r t i z e d o n a s t r a i g h t - l i n e b a s i s o v e r i t s u s e f u l l i f e . K e y e s t i m a t e s a n d
judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected
lease payments to present value, (2) lease term, and (3) lease payments.
•The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged
by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the
discount rate for leases.
•The lease term includes the noncancellable period of the lease. Lease payments included in the
measurement of the lease liability are composed of fixed payments and purchase option price that the
City is reasonably certain to exercise.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
80
The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure
the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the
lease liability.
Lease assets are reported with other capital assets and lease liabilities are reported with long-term debt on the
statement of net position.
Lessor: The City is a lessor for noncancellable leases of two cell towers. The City recognizes a lease receivable
a n d a d e f e r r e d i n f l o w o f r e s o u r c e s i n t h e g o v e r n m e n t - w i d e a n d g o v e r n m e n t a l f u n d f i n a n c i a l s t a t e m e n t s .
At the commencement of a lease, the City initially measures the lease receivable at the 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 inflow of resources is 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 inflow of resources is recognized as revenue over the life of the lease term.
Key estimates and judgments include how the City determines (1) the discount rate it uses to discount the
expected lease receipts to present value, if applicable, (2) lease term, and (3) lease receipts.
•The City determines that the interest component of the lessor leases are not material, and therefore are
recorded with 0% interest.
•The lease term includes the noncancellable period of the lease. Lease receipts included in the
measurement of the lease receivable is composed of fixed payments from the lessee.
The City monitors changes in circumstances that would require a remeasurement of its lease, 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.
P. Subscription-Based Information Technology Arrangements (SBITA)
The City is a subscriber for noncancellable subscriptions of information technology services. The City recognizes
a s u b s c r i p t i o n l i a b i l i t y a n d a n i n t a n g i b l e r i g h t - t o - u s e s u b s c r i p t i o n a s s e t ( s u b s c r i p t i o n a s s e t ) i n t h e g o v e r n m e n t -
wide financial statements.
At the commencement of a subscription, the City initially measures the subscription liability at the present value of
payments expected to be made during the subscription term. Subsequently, the subscription liability is reduced by
the principal portion of subscription payments made. The subscription asset is initially measured as the initial
amount of the subscription liability, adjusted for subscription payments made at or before the subscription
commencement date, plus certain initial direct costs. Subsequently, the subscription asset is amortized on a
s t r a i g h t - l i n e b a s i s o v e r i t s u s e f u l l i f e .
Key estimates and judgments related to subscriptions include how the City determines (1) the discount rate it
uses to discount the expected subscription payments to present value, (2) lease term, and (3) subscription
payments.
•The City uses the interest rate charged by the vendor as the discount rate. When the interest rate
charged by the vendor is not provided, the City generally uses its estimated incremental borrowing rate as
the discount rate for subscriptions.
•The subscription term includes the noncancellable period of the subscription. Subscription payments
included in the measurement of the subscription liability are composed of fixed payments that the City is
reasonably certain to exercise.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
81
The City monitors changes in circumstances that would require a remeasurement of its subscriptions and will
remeasure the subscription asset and liability if certain changes occur that are expected to significantly affect the
amount of the subscription liability.
Subscription assets are reported with other capital assets and subscription liabilities are reported with long-term
debt on the statement of net position.
Q. Changes in Accounting Principles and New GASB Pronouncements
The following Government Accounting Standards Board (GASB) pronouncements were effective for and/or early
implemented for the fiscal year ended June 30, 2025:
1. GASB Statement No. 101, Compensated Absences
The requirements of this Statement will improve financial reporting by implementing a unified recognition and
measurement model that will result in a liability for compensated absences that more appropriately reflects when
a government incurs an obligation. Establishing the unified model will result in consistent application to any type of
compensated absence and will eliminate potential comparability issues between governments that offer different
types of leave. This Statement will also result in a more robust estimate of the amount of compensated absences
that a government will pay or settle, which will enhance the relevance and reliability of information about the
liability for compensated absences.
2. GASB Statement No. 102, Certain Risk Disclosures
The requirements of this Statement will improve financial reporting by providing users of financial statements with
essential information that currently is not often provided. The disclosures will provide users with timely information
regarding certain concentrations or constraints and related events that have occurred or have begun to occur that
make a government vulnerable to a substantial impact. As a result, users will have better information with which to
understand and anticipate certain risks to a government’s financial condition.
Management has assessed the impact of this Statement on the City's financial statements and determined that it
did not have a material impact.
NOTE 2: STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
A. Violations of Legal and Contractual Provisions
On the Excess of expenditures over appropriations describes a budgetary violation that occurred for the year
ended June 30, 2025. It also explains the provision provided by law that was used to remedy the violation.
Excess of Expenditures over Appropriations
For the year ended June 30, 2025, expenditures exceeded appropriations in the HDC Housing Fund by $15,819.
B. Deficit Fund Balances/Net Position
At June 30, 2025, the following funds report deficit fund balances or net position:
Fund Name Fund Type Deficit Cause
Community Development Block Grant Nonmajor Special Revenue Fund $ (58,312) (a)
Measure R CP Nonmajor Capital Projects Fund $ (163,554) (a)
(a) Deficit due to timing differences between grant receipts and disbursements, and is expected to be eliminated
through future grant revenues.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
82
NOTE 3: CASH AND INVESTMENTS
Cash and investments held by the City were comprised of the following at June 30, 2025:
Statement of Net Position
Cash and investments $ 87,409,331
Statement of Fiduciary Net Position
Cash and cash equivalents 4,748,224
Total cash and investments $ 92,157,555
Cash on hand $ 3,148
Deposits with financial institutions 3,999,396
Investments 88,155,010
Total cash and investments $ 92,157,554
A. Investments Authorized Debt
The table below identifies the investment types that are authorized for the City by the California Government Code
and the City's investment policy. The table also identifies certain provisions of the California Government Code
(or the City's investment policy, if more restrictive) that address interest rate risk, credit risk, and concentration of
credit risk. This table does not address investments of debt proceeds held by bond trustee that are governed by
the provisions of debt agreements of the City, rather than the general provisions of the California Government
Code or the City's investment policy.
Authorized by Maximum Maximum
Investment Types Investment Maximum Percentage Investment
Authorized by State Law Policy Maturity *of Portfolio *in One Issuer *
U.S. Treasury obligations Yes 5 years None None
U.S. agency securities Yes 5 years 70%35%
Bankers acceptances Yes 180 days 20%30%
Commercial paper Yes 180 days 15%10%
Certificates of deposit (nonnegotiable)Yes 5 years 30%None
Certificates of deposit (negotiable)Yes 5 years 30%None
Repurchase agreements Yes 1 year None 5%
Medium-term notes Yes 5 years 30%5%
Municipal investments Yes 5 years 10%5%
Money market mutual funds Yes N/A 20%10%
Mortgage pass-through securities Yes 5 years 20%None
Local Agency Investment Fund Yes N/A None $75 million
*Based on state law requirements or City investment policy requirements, whichever is more restrictive.
B. Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an
investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to
changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by
purchasing a combination of shorter term and longer-term investments and by timing cash flows from maturities
so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide
the cash flow and liquidity needed for operations.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
83
Information about the sensitivity of the fair values of the City's investments (including investments held by bond
trustee) to market interest rate fluctuations is provided by the following table that shows the distribution of the
City's investments by maturity:
Remaining Maturity (in Months)
12 Months 13 to 36 37 to 60
Investment Type Total or Less Months Months
U.S. agency securities $ 7,916,386 $ 1,344,629 $ – $ 6,571,757
Certificates of deposit (negotiable) 15,540,714 745,913 1,245,444 13,549,357
Medium-term notes 6,690,239 3,030,844 484,755 3,174,640
Municipal bonds 993,309 993,309 – –
Money market mutual funds 338,316 338,316 – –
Local Agency Investment Fund 56,676,046 56,676,046 – –
Total $ 88,155,010 $ 63,129,057 $ 1,730,199 $ 23,295,754
C. Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the
investment. This is measured by the assignment of a rating by a nationally recognized statistical rating
organization. Presented below is the minimum rating required by (where applicable) the California Government
Code, the City's investment policy, or debt agreements, and the actual rating as of year-end for each investment
type.
Moody's Rating as of Fiscal Year End
Minimum Exempt or
Investment Type Total Legal Rating Aaa Aa A A-Not Rated
U.S. agency securities $ 7,916,386 Exempt $ 7,916,386 $ — $ — $ — $ —
Cert. of deposit (negotiable) 15,540,714 Not Rated — — — — 15,540,714
Medium-term notes 6,690,239 A 1,569,881 980,860 3,740,221 399,277 —
Municipal bonds 993,309 A — 993,309 — — —
Money market mutual funds 338,316 Not Rated — — — — 338,316
Local Agency Investment Fund 56,676,046 Not Rated — — — — 56,676,046
Total $ 88,155,010 $ 9,486,267 $ 1,974,169 $ 3,740,221 $ 399,277 $ 72,555,076
D. Concentration of Credit Risk
The investment policy of the City contains certain limitations on the amount that can be invested in any one issuer.
Investments in any one issuer (other than U.S. Treasury securities, mutual funds, and external investment pools)
that represent 5% or more of total As of June 30, 2025 the City did not have any investments in one issuer greater
than 5%.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 3: CASH AND INVESTMENTS (CONTINUED)
84
E. Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a
government will not be able to recover its deposits or will not be able to recover collateral securities that are in the
possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure
of the counterparty (e.g., broker-dealer) to a transaction, a government will not be able to recover the value of its
investment or collateral securities that are in the possession of another party. The California Government Code
and the City's investment policy do not contain legal or policy requirements that would limit the exposure to
custodial credit risk for deposits or investments, other than the following provision for deposits: The California
Government Code requires that a financial institution secure deposits made by state or local governmental units
by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so
waived by the governmental unit). The fair value of the pledged securities in the collateral pool must equal at least
110% of the total amount deposited by the public agencies. California law also allows financial institutions to
secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public
deposits. As of June 30, 2025, the City had deposits with financial institutions in excess of federal depository
insurance limits by $3,749,396 that were held in collateralized accounts.
F. Fair Value Measurements
Generally accepted accounting principles establishes a fair value hierarchy that prioritizes the inputs to valuation
techniques used to measure fair value. This hierarchy consists of three broad levels: Level 1 inputs consist of
quoted prices (unadjusted) for identical assets and liabilities in active markets that a government can access at
the measurement date, Level 2 inputs that are observable for an asset or liability, either directly or indirectly, and
Level 3 inputs have the lowest priority and consist of unobservable inputs for an asset or liability. The City’s
custodian National Financial Services uses Intercontinental Exchange (ICE), Bloomberg, and Thompson Reuters
to obtain pricing information. The City’s investment in LAIF and money market mutual funds held by the bond
trustee are not subject to fair market value hierarchy valuation techniques. All other investments are valued using
Level 2 inputs.
NOTE 4: NOTES, LOANS, AND LEASES RECEIVABLE
Loans receivable consisted of the following at June 30, 2025:
Balance Balance
July 1, 2024 Additions Deletions June 30, 2025
San Gabriel Valley Water Co. Loan Phase I $ 24,690 $ – $ 8,230 $ 16,460
San Gabriel Valley Water Co. Loan Phase II 12,346 – 4,115 8,231
Rio Hondo Community Development Co. Loan 227,086 – – 227,086
Residential Rehabilitation Loan Program 203,450 108,320 – 311,770
Rio Hondo Community Development Co. Loan (275-12025) 214,615 – – 214,615
Home Improvements 2,591,570 – 51,125 2,540,445
Home Ownership Assistance Program for Low Income – 1,560,020 – 1,560,020
First Time Home Buyers Program 515,200 – – 515,200
Total $ 3,788,957 $ 1,668,340 $ 63,470 $ 5,393,827
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 3: CASH AND INVESTMENTS (CONTINUED)
85
1. San Gabriel Valley Water Company Phase I
The City has an outstanding loan with the San Gabriel Valley Water Company (Phase I) covering the installation
of water facilities on Garvey Avenue from Walnut Grove Avenue to Rosemead Place. The loan was initially made
through the Rosemead Redevelopment Agency in the amount of $356,000. On October 26, 1987, the loan was
assigned to the City of Rosemead with a balance due of $329,197. The term of the loan is 40 years at 0%
interest. Annual payments are 2.5% of the assigned loan amount with final payment due in fiscal year 2026-27.
The outstanding balance as of June 30, 2025 is $16,460.
2. San Gabriel Valley Water Company Phase II
The City has an outstanding loan with the San Gabriel Valley Water Company (Phase II) covering the installation
of water facilities on Garvey Avenue from Walnut Grove Avenue to Delta Avenue. The loan was initially made
through the Rosemead Redevelopment Agency in the amount of $194,400. On October 26, 1987, the loan was
assigned to the City of Rosemead with a balance due of $164,604. The term of the loan is 40 years at 0%
interest. Annual payments are 2.5% of the assigned loan amount with final payment due in fiscal year 2026-27.
The outstanding balance at June 30, 2025 is $8,231.
3. Rio Hondo Community Development Corporation
On April 27, 2010, the City Council entered into an Agreement with Rio Hondo Community Development
Corporation (RHCDC) for the production of affordable housing. The RHCDC identified a property for sale (8628
Landis View Lane) that was as suitable for affordable housing for a total purchase price of $441,207. The City
Council approved a 0% deferred payment loan in the amount of $227,086 from HOME CHDO Set-Aside Funds
and a 0% forgivable loan by the Rosemead Community Development Commission (CDC) from the Low- and
Moderate-Income Housing Fund in the amount of $201,314. The unit was restricted as a rental property for low-
to moderate-income households and be subject to a 55-year affordability covenant. The $227,086 City loan is
due at the end of the fifty-five-year term, while the loan from the CDC is due only in the event that the RHCDC
breaches or defaults on the provision of the Note.
4. Rio Hondo Community Development Corporation (275-12025)
On April 22, 2008, the City Council entered into an Agreement with Rio Hondo Community Development
Corporation (RHCDC) for affordable housing. The RHCDC identified a property for sale (9331 Glendon Way,
Rosemead) that was suitable for affordable housing for a total purchase price of $457,899. The City Council
approved a 0% deferred payment loan in the amount of $214,615 from HOME CHDO Set Aside Funds and a 0%
forgivable loan by the Rosemead Community Development Commission (CDC) from the Low-and Moderate-
Income Housing Fund in the amount of $243,284. The unit was restricted as a rental property for low-to moderate-
income households and was subject to a 55-year affordability covenant. The $214,615 City loan is due until the
sale of the home, transfer of ownership or year 55, while the loan from the CDC is due only if RHCDC breaches or
defaults on the provisions of the Note.
5. Home Improvement Loans
The City used HOME funds to provide homeowners with funds for home improvements. The loans range from
$3,500 to $179,000. The loan term is 30 years, and the loan is neither assumable nor forgivable. Interest rates
range from 0% to 3%. The amount outstanding as of June 30, 2025 is $2,540,445.
6. First Time Homebuyer Programs
The City used HOME funds to provide funding to first time homebuyers to purchase housing within the City of
Rosemead. The loans range from $20,000 to $70,000. The loan term is 30 years, and the loan is neither
assumable nor forgivable. The amount outstanding as of June 30, 2025 is $515,200.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 4: NOTES, LOANS, AND LEASES RECEIVABLE (CONTINUED)
86
7. Residential Rehabilitation Loan Program
The City used HOME funds to provide qualifying homeowners with funds for residential rehabilitation. The loans
range from $25,000 to $170,000. The loan term is 20 years, and is forgivable after 20 years. Interest rates range
from 0% to 3%. The amount outstanding as of June 30, 2025 is $311,770.
8. Home Ownership Assistance Program for Low Income
The City used HOME funds to provide qualifying homeowners with subsidy to purchase residential property for
low income. The loans range from $312,000 to $312,005. The loan term is 20 years, and is forgivable after 20
years. There is no interest rate applicable to the loan. The amount outstanding as of June 30, 2024 is $1,560,020.
9. Lease Receivable
The City leases two cell towers to AT&T. The terms by lease type are listed in the table below. An initial lease
receivable was recorded in the amount of $261,589. As of June 30, 2025, the value of the lease receivable and
deferred inflow of resources is $98,357. The City recognized rental revenue of $880,880 during the fiscal year
which included $43,715 related to the amortization of the deferred inflow and $837,165 for other short term leases
not included in the measurement of the lease receivable.
Lease Lease Lease
Lease Type Term Range Receivable Revenue Interest
Land - cell towers 5 years $ 98,357 $ 43,715 $ —
NOTE 5: INTERFUND RECEIVABLE, PAYABLE AND TRANSFERS
A. Due To/From Other Funds
Receivable Fund Payable Fund Amount
General fund Nonmajor governmental funds $ 466,372
General fund HOME fund 219,930
Total $ 686,302
Due to/due from other funds for the year ending June 30, 2025, consisted of $686,302 for short-term loans made
to the Home Fund and nonmajor governmental funds from the General Fund resulting from deficit cash balances
in those funds.
B. Interfund Transfers
Transfers in
Internal
General Service
Fund Funds Total
Transfers out
General fund $ — $ 900,000 $ 900,000
Nonmajor governmental funds 480,414 — 480,414
Total $ 480,414 $ 900,000 $ 1,380,414
The General Fund transferred $900,000 into the internal service funds for various operating and capital
improvement programs and projects. In addition, the nonmajor governmental funds transferred $480,414 to the
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 4: NOTES, LOANS, AND LEASES RECEIVABLE (CONTINUED)
87
General Fund for the recognition of previously restricted American Rescue Plan Act monies for general
governmental usage.
A. Leases Payable
The City has entered into various lease agreements as lessee for the acquisition and use of vehicles. The terms
of these 19 leasing arrangements are 5 years. As of June 30, 2025, the total value of the lease liability was
$120,891. The City is required to make monthly principal and interest payments of ranging from $447 to $1,044.
The leases have interest rates ranging from 3.2% to 11.2%.
The City has also entered into various lease agreement as lessee for the acquisition and use of copiers. The
terms of the 6 leasing arrangements are 5 years. As of June 30, 2025, the total value of lease liability was
$90,252. The City is required to make monthly principal payments of $328. The leases have an interest rate of
5.05%.
Information on the lease assets as of June 30, 2025 are as follows:
Governmental Activities
Lease Type
Amount of
Leased Capital
Assets
Accumulated
Amortization
Copiers $ 104,706 $ 15,706
Vehicle Lease 756,807 666,659
$ 861,513 $ 682,365
Lease activities and the future principal and interest lease payments as of June 30, 2025, were as follows:
Balance Balance Due Within
June 30, 2024 Additions Deletions June 30, 2025 One Year
Lease liability $ 245,037 $ 104,706 $ 138,600 $ 211,143 $ 85,526
The future principal and interest lease payments as of June 30, 2025, were as follows:
Vehicles:
Governmental Activities
Fiscal Year
Ending
June 30,Principal Interest Total
2026 $ 65,995 $ 8,989 $ 74,984
2027 54,896 2,697 57,593
Totals $ 120,891 $ 11,686 $ 132,577
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 5: INTERFUND RECEIVABLE, PAYABLE AND TRANSFERS (CONTINUED)
88
Copiers:
Governmental Activities
Fiscal Year
Ending
June 30,Principal Interest Total
2026 $ 19,531 $ 4,110 $ 23,641
2027 20,540 3,100 23,640
2028 21,602 2,039 23,641
2029 22,718 922 23,640
2030 5,861 49 5,910
Totals $ 90,252 $ 10,220 $ 100,472
B. Subscription-Based Information Technology Arrangements
The City has entered into various subscriptions as the subscriber for the use of software as a service. An initial
subscription liability was recorded in the amount of $88,030 during the current fiscal year. The terms of these
subscriptions range from 3 to 5 years. As of June 30, 2025, the total value of the subscription liability was
$43,147. The City is required to make annual principal and interest payments of ranging from $8,601 to $34,783.
The subscriptions have interest rates ranging from 0.39% to 2.35%. Information on the subscription assets as of
June 30, 2025 are as follows:
Governmental Activities
Subscription Type Amount of Subscription Assets
Accumulated
Amortization
Software as a service $ 240,800 $ 138,953
Subscription activities and the future principal and interest subscription payments as of June 30, 2025, were as
follows:
Governmental Activities
Fiscal Year
Ending
June 30,Principal Interest Total
2026 $ 14,497 $ 34,783 $ 49,280
2027 28,650 23,096 51,746
Total $ 43,147 $ 57,879 $ 101,026
Balance Balance Due Within
Jun 30, 2024 Additions Deletions Jun 30, 2025 One Year
Subscription liability $ 6,700 $ 73,970 $ 37,523 $ 43,147 $ 14,497
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 6: LEASES AND SUBSCRIPTION PAYABLE (CONTINUED)
89
NOTE 7: CAPITAL ASSETS
A summary of the changes in capital assets for the fiscal year ended June 30, 2025, were as follows:
Balance Balance
June 30, 2024 Additions Deletions Transfers June 30, 2025
Governmental activities:
Capital assets, not being depreciated/amortized
Land $ 6,560,869 $ — $ — $ — $ 6,560,869
Construction-in-progress 2,343,852 4,862,669 — (3,558,565) 3,647,956
Total capital assets, not being depreciated/amortized 8,904,721 4,862,669 — (3,558,565) 10,208,825
Capital assets, being depreciated/amortized
Buildings 25,466,127 27,728 — 553,472 26,047,327
Improvements other than buildings 6,226,382 — — 495,573 6,721,955
Machinery and equipment 978,340 11,462 — — 989,802
Autos and trucks 1,363,405 153,556 — — 1,516,961
Furniture and office equipment 764,425 — — — 764,425
Subscription assets 88,030 152,770 — — 240,800
Lease assets 756,807 104,706 — — 861,513
Infrastructure 77,462,485 — — 2,509,520 79,972,005
Total capital assets, being depreciated/amortized 113,106,001 450,222 — 3,558,565 117,114,788
Less accumulated depreciation/amortization
Buildings (12,627,216) (505,933) — — (13,133,149)
Improvements other than buildings (3,175,411) (340,049) — — (3,515,460)
Machinery and equipment (506,037) (90,914) — — (596,951)
Autos and trucks (1,236,011) (86,745) — — (1,322,756)
Furniture and office equipment (759,265) (2,814) — — (762,079)
Subscription assets (81,806) (57,147) — — (138,953)
Lease assets (571,160) (111,205) — — (682,365)
Infrastructure (49,138,779) (1,773,934) — — (50,912,713)
Total accumulated depreciation/amortization (68,095,685) (2,968,741) — — (71,064,426)
Total capital assets, being depreciated/amortized, net 45,010,316 (2,518,519) — 3,558,565 46,050,362
Total governmental activities capital assets $ 53,915,037 $ 2,344,150 $ — $ — $ 56,259,187
Depreciation and amortization expense was charged to functions/programs of the primary government as follows:
General government $ 10,175
Public safety 19,838
Public works 2,440,417
Parks and recreation 197,573
Community services 223,120
Internal service funds 77,618
Total depreciation/amortization expense $ 2,968,741
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 7: CAPITAL ASSETS
90
Compensated absences activities for the year ended June 30, 2025, is as follows:
Balance Amount
June 30, 2024 Balance Due Within
as restated Net Change June 30, 2025 One Year
$ 1,899,968 $ 356,883 $ 2,256,851 $ 300,396
NOTE 9: RISK MANAGEMENT
A. Description of Self-Insurance Pool Pursuant to Joint Powers Agreement
The City is a member of the California Joint Powers Insurance Authority (Authority). The Authority is composed of
126 California public entities and is organized under a joint powers agreement pursuant to California Government
Code §6500 et seq. The purpose of the Authority is to arrange and administer programs for the pooling of self-
insured losses, to purchase excess insurance or reinsurance, and to arrange for group purchased insurance for
property and other lines of coverage. The California JPIA began covering claims of its members in 1978. Each
member government has an elected official as its representative on the Board of Directors. The Board operates
through a nine-member Executive Committee.
B. Primary Self-Insurance Programs of the Authority
Each member pays an annual contribution at the beginning of the coverage period. The total funding requirement
for primary self-insurance programs is based on an actuarial analysis. Costs are allocated to individual agencies
based on payroll and claims history, relative to other members of the risk-sharing pool.
1. Primary Liability Program
Claims are pooled separately between police and general government exposures. (1) The payroll of each
member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each
member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2)
The first layer of losses includes incurred costs up to $100,000 for each occurrence and is evaluated as a
percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred
costs from $100,000 to $500,000 for each occurrence and is evaluated as a percentage of the pool’s total
incurred costs within the second layer. (4) Incurred costs from $500,000 to $50 million, are distributed based on
the outcome of cost allocation within the first and second loss layers.
The overall coverage limit for each member, including all layers of coverage, is $50 million per occurrence.
Subsidence losses also have a $50 million per occurrence limit. The coverage structure is composed of a
combination of pooled self-insurance, reinsurance, and excess insurance. Additional information concerning the
coverage structure is available on the Authority’s website:
https://cjpia.org/coverage/risk-sharing-pools/
2. Primary Workers’ Compensation Program
Claims are pooled separately between public safety (police and fire) and general government exposures. (1) The
payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is
determined for each member, which establishes the weight applied to payroll and the weight applied to losses
within the formula. (2) The first layer of losses includes incurred costs up to $75,000 for each occurrence and is
evaluated as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses
includes incurred costs from $75,000 to $200,000 for each occurrence and is evaluated as a percentage of the
pool’s total incurred costs within the second layer. (4) Incurred costs from $200,000 to statutory limits are
distributed based on the outcome of cost allocation within the first and second loss layers.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 8: COMPENSATED ABSENCES
91
For 2024-25 the Authority’s pooled retention is $1 million per occurrence, with reinsurance to statutory limits under
California Workers’ Compensation Law. Employer’s Liability losses are pooled among members to $1 million.
Coverage from $1 million to $5 million is purchased through reinsurance policies, and Employer’s Liability losses
from $5 million to $10 million are pooled among members.
C. Purchased Insurance
1. Pollution Legal Liability Insurance
The City of Rosemead participates in the pollution legal liability insurance program which is available through the
Authority. The policy covers sudden and gradual pollution of scheduled property, streets, and storm drains owned
by the City of Rosemead. Coverage is on a claims-made basis. There is a $250,000 deductible. The Authority
has an aggregate limit of $20 million.
2. Property Insurance
The City participates in the all-risk property protection program of the Authority. This insurance protection is
underwritten by several insurance companies. City property is currently insured according to a schedule of
covered property submitted by the City to the Authority. City property currently has all-risk property insurance
protection in the amount of $79,251,096. There is a $10,000 deductible per occurrence except for non-emergency
vehicle insurance which has a $2,500 deductible.
3. Crime Insurance
The City purchases crime insurance coverage in the amount of $1,000,000 with a $2,500 deductible. The fidelity
coverage is provided through the Authority.
D. Adequacy of Protection
During the past three fiscal years, none of the above programs of protection experienced settlements or
judgments that exceeded pooled or insured coverage. There were also no significant reductions in pooled or
insured liability coverage in 2024-25.
NOTE 10: DEFINED BENEFIT PENSION PLANS
A. Aggregate Information on all Defined Benefit Pension Plans
The City participates in two defined benefit pension plans, the Miscellaneous Cost-sharing multiple-employer
defined benefit pension plan administered by the California Public Employees’ Retirement System (CalPERS),
and the Public Agency Retirement System (PARS) retirement enhancement plan, an agent, multiple-employer
defined benefit pension plan. These two plans are presented in aggregate on the government-wide financial
statement of net position. The schedule below summarizes the components of the information presented on the
government-wide statement broken out by each plan and in aggregate:
Net Pension Net Pension Deferred Outflows Deferred Inflows Pension
Liability (Asset)of Resources of Resources Expense
Miscellaneous Plan $ 10,796,104 $ – $ 3,350,157 $ 253,603 $ 584,130
PARS Retirement Enhancement Plan – (500,884) 187,268 17,082 101,592
Total pension plans $ 10,796,104 $ (500,884) $ 3,537,425 $ 270,685 $ 685,722
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 9: RISK MANAGEMENT
92
B. Defined Benefit Pension Plan – CalPERS
1. Plan Description, Benefits Provided, and Employees Covered
The plan is a public agency cost-sharing multiple employer defined benefit pension plan administered by the
California Public Employees’ Retirement System (CalPERS). A full description of the pension plan regarding
number of employees covered, benefit provisions, assumptions (for funding, but not accounting purposes), and
membership information are listed in the plan’s June 30, 2022 Annual Actuarial Valuation Report (funding
valuation). Details of the benefits provided can be obtained in Appendix B of the actuarial valuation report. This
report and CalPERS’ audited financial statements are publicly available reports that can be obtained at CalPERS’
website.
2. Contribution Description
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer
contribution rates for all public employers are determined on an annual basis by the actuary and shall be effective
on the July 1 following notice of a change in the rate. The total plan contributions are determined through
CalPERS’ annual actuarial valuation process. The actuarially determined rate is the estimated amount necessary
to finance the costs of benefits earned by employees during the year, with an additional amount to finance any
unfunded accrued liability. The employer is required to contribute the difference between the actuarially
determined rate and the contribution rate of employees. Employer contribution rates may change if plan contracts
are amended. Payments made by the employer to satisfy contribution requirements that are identified by the
pension plan terms as plan member contribution requirements are classified as plan member contributions. Plan
contributions for the year equaled $1,479,792.
3. Actuarial Methods and Assumptions Used to Determine Total Pension Liability
The June 30, 2023 valuation was rolled forward to determine the June 30, 2024 total pension liability, based on
the following actuarial methods and assumptions:
Actuarial Cost Method Entry Age Normal in accordance with the requirement of GASB
Actuarial Assumptions:
Discount Rate 6.90%
Inflation 2.30%
Payroll Growth 2.75%
Salary Increases Varies by Entry Age and Service
Investment Rate of Return 7.00%
Mortality Rate Table Derived using CalPERS' Membership Data for all Funds
Post Retirement Benefit Increase Contract COLA up to 2.30% until Purchasing Power Protection Allowance
Floor on Purchasing Power applies
The mortality table used was developed based on CalPERS-specific data. The probabilities of mortality are based
on the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. Mortality rates incorporate full
generational mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries. For more
details on this table, please refer to the 2021 experience study report from November 2021 that can be found on
the CalPERS website.
4. Long-term Expected Rate of Return
The long-term expected rate of return on pension plan investments was determined using a building-block method
in which expected future real rates of return (expected returns, net of pension plan investment expense and
inflation) are developed for each major asset class.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 10: DEFINED BENEFIT PENSION PLANS
93
In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term
market return expectations. Using historical returns of all of the funds’ asset classes, expected compound
(geometric) returns were calculated over the next 20 years using a building-block approach. The expected rate of
return was then adjusted to account for assumed administrative expenses of 10 Basis points. The expected real
rates of return by asset class are as follows:
Assumed
Asset
Asset Class Allocation Real Return
Global equity-cap-weighted 30.00 % 4.54 %
Global equity-non-cap-weighted 12.00 % 3.84 %
Private equity 13.00 % 7.28 %
Treasury 5.00 % 0.27 %
Mortgage-backed securities 5.00 % 0.50 %
Investment grade corporates 10.00 % 1.56 %
High yield 5.00 % 2.27 %
Emerging market debt 5.00 % 2.48 %
Private debt 5.00 % 3.57 %
Real assets 15.00 % 3.21 %
Leverage -5.00 % -0.59 %
1) An expected inflation of 2.30% used for this period.
2) Figures are based on the 2021-22 Asset Liability Management study
5. Discount Rate
The discount rate used to measure the total pension liability was 6.90%. The projection of cash flows used to
determine the discount rate assumed that contributions from plan members will be made at the current member
contribution rates and that contributions from employers will be made at statutorily required rates, actuarially
determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make
all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on
plan investments was applied to all periods of projected benefit payments to determine the total pension liability.
6. Amortization of Deferred Outflows and Deferred Inflows of Resources
Under GASB Statement No. 68, gains and losses related to changes in total pension liability and fiduciary net
position are recognized in pension expense systematically over time.
The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The
remaining amounts are categorized as deferred outflows and deferred inflows of resources related to pensions
and are to be recognized in future pension expense.
The amortization period differs depending on the source of the gain or loss:
Net difference between projected and actual
earnings on pension plan investments 5-year straight-line amortization
All other amounts Straight-line amortization over the expected average remaining
service lifetime (EARSL) of all members that are provided with
benefits (active, inactive, and retired) as of the beginning of the
measurement period.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 10: DEFINED BENEFIT PENSION PLANS
94
The EARSL for the plan for the measurement period ending June 30, 2024 is 3.8 years, which was obtained by
dividing the total service years of 600,538 (the sum of remaining service lifetimes of the active employees) by
160,073 (the total number of participants: active, inactive, and retired) in CalPERS’ PERF C pool. Inactive
employees and retirees have remaining service lifetimes equal to 0. Total future service is based on the members’
probability of decrementing due to an event other than receiving a cash refund.
7. Proportionate Share of the Net Pension Liability
The City reports a net pension liability of $10,796,104, as of June 30, 2025 (measurement date: June 30, 2024).
The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of
contributions to the pension plans relative to the projected contributions of all participating employers, actuarially
determined. The City’s proportionate share of the Miscellaneous Plan for the as of June 30, 2023 and June 30,
2024 (measurement period), are as follows:
Proportion - June 30, 2023 0.0871%
Proportion - June 30, 2024 0.0890%
Change 2.1814%
8. Sensitivity of the Net Pension Liability to Changes in the Discount Rate
The following presents the collective net pension liability calculated using a discount rate of 6.90%, as well as
what the collective net pension liability would be if it were calculated using a discount rate that is 1-percentage-
point lower (5.90%) or 1-percentage-point higher (7.90%) than the current rate:
Discount Rate Current Discount Rate
-1%Discount Rate +1%
(5.90%)(6.90%)(7.90%)
Proportionate share of net pension liability/(asset)$ 16,779,283 $ 10,796,104 $ 5,871,067
9. Pension Expense and Deferred Outflows and Deferred Inflows of Resources
For the fiscal year ended June 30, 2025, the City recognized $584,130 in pension expense.
The following table presents deferred outflows and deferred inflows of resources related to pensions as of the
June 30, 2025:
Deferred Outflows Deferred Inflows
of Resources of Resources
Contributions subsequent to the
measurement date $ 1,479,792 $ —
Changes of assumptions 277,482 —
Differences between expected and
actual experience 933,422 36,421
Net difference between projected
and actual earnings on pension
plan investments 621,519 —
Adjustments due to differences in
proportions 37,942 1,085
Difference in proportionate share — 216,097
Total $ 3,350,157 $ 253,603
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 10: DEFINED BENEFIT PENSION PLANS
95
Amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in
future pension expense as follows, except for the $1,479,792 deferred outflow related to contributions made
subsequent to the measurement date, which will be recognized as a reduction to the net pension liability in the
next fiscal year:
Deferred
Outflows/(Inflows)
Fiscal year ended June 30,of Resources
2026 $ 486,098
2027 1,339,604
2028 4,047
2029 (212,987)
Total $ 1,616,762
C. PARS Retirement Enhancement Plan
1. Plan Description
The Plan is an agent, multiple-employer supplemental employee defined benefit pension plan (the Plan II)
administered by the Public Agency Retirement Services (PARS) Phase II Systems. A full description of the
pension plan regarding number of employees covered, benefit provisions, assumptions (for funding, but not
account purposes), and membership information are listed in the June 30, 2023, Annual Actuarial Valuation
Report. Details of the benefits provided can be obtained from the actuarial valuation reports. PARS issues a
publicly available financial report that includes financial statement and required supplementary information for the
Plan II. That report may be obtained writing to PARS, 3961 MacArthur Boulevard, Suite 200, Newport Beach,
California, 92660.
2. Benefits Provided
The Retirement Enhancement Plan provides a benefit equal to the PARS "3.0% at 55" plan factor (formula is a
static 3.0% at age 55 and older), less the CalPERS "2.7% at 55" plan factors (a static 2.7% at age 55 and older)
for all years of full-time continuous City service. The benefit from this plan when added to the CalPERS benefit
may not exceed 90% of final compensation.
The Plan II includes a pre-retirement death benefit for those eligible employees who die while actively employed
with the City and meet the age and service eligibility requirements for a supplemental retirement benefit. The
benefit will be paid to a surviving spouse or domestic partner as a life annuity equal to the employee's
supplemental retirement benefit actuarially reduced as if the employee had elected a 100% joint-and-survivor
annuity.
The Plan is closed to all employees in the classes hired on or after July 1, 2010.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 10: DEFINED BENEFIT PENSION PLANS
96
The Plan II’s provisions and benefits in effect at June 30, 2025, (measurement date) are summarized as follows:
Supplemental
Hire date On or before June 30, 2010
Benefit formula 3% @ 55 less CalPERS 2.7% @ 55
Benefit vesting schedule From date of hire
Benefit payments Life only annuity
Retirement age 55
Monthly benefits, as a % of eligible compensation 0.576%
Required employee contributions rates None
Required employer contribution rates 1.390%
3. Employees Covered
At June 30, 2024 (valuation date), the following employees were covered by the benefit terms:
Retirees and beneficiaries 19
Terminated vested and other inactives 0
Active members 21
Total 40
4. Contributions
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer
contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective
on the July 1 following notice of a change in the rate. The total plan contributions are determined through PARS’
annual actuarial valuation process. The actuarially determined rate is the estimated amount necessary to finance
the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded
accrued liability. For the measurement period ended June 30, 2025 (the measurement date), the employer’s
contribution rate is 4.8 percent of annual payroll. Employer contribution rates may change if plan contracts are
amended. Employer Contributions for the measurement period ended June 30, 2025 are $78,797.
5. Net Pension Asset
The City’s net pension asset for the Retirement Enhancement Plan is measured as the total pension liability, less
the pension plan’s fiduciary net position. The net pension asset of the Plan II is measured as of June 30, 2024,
using an annual actuarial valuation as of June 30, 2024.
Total Pension Plan Fiduciary Net Pension Plan fiduciary net
Liability Net Position Liability/(Asset)position as a % of
(a)(b)(c) = (a) - (b)total pension asset
Balance at June 30, 2025 $ 3,021,334 $ 3,522,218 $ (500,884) 117 %
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 10: DEFINED BENEFIT PENSION PLANS
97
6. Actuarial Methods and Assumptions
The following actuarial methods and assumptions were used in the June 30, 2024, funding valuation:
Actuarial Cost Method Entry Age Normal
Amortization Method
Level percent or level dollar Level dollar
Closed, open, or layered periods Closed
Amortization period at June 30, 2024 19 years
Amortization growth rate 0.00%
Asset Valuation Method
Smoothing period None
Recognition method None
Corridor None
Inflation 2.30%
Salary Increases Varies by entry age and service
Investment Rate of Return 6.50%
Cost of Living Adjustments 2.00%
Mortality
Consistent with Non-Industrial rates used to value the Miscellaneous
Public Agency CalPERS Pension Plans
7. Discount Rate
GASB Statement No. (GASB 68) generally require that a blended discount rate be used to measure the Total
Pension Liability (the Actuarial Accrued Liability calculated using the Individual Entry Age Normal Cost Method).
The long-term expected return on plan investments may be used to discount liabilities to the extent that the plan's
Fiduciary Net Position (fair market value of assets) is projected to cover benefit payments and administrative
expenses. A 20-year high quality (AA/Aa or higher) municipal bond rate must be used for periods where the
Fiduciary Net Position is not projected to cover benefit payments and administrative expenses. Determining the
discount rate under GASB 68 will often require that the actuary perform complex projections of future benefit
payments and asset values.
GASB 68 (paragraph 29) do allow for alternative evaluations of projected solvency, if such evaluation can reliably
be made. GASB does not contemplate a specific method for making an alternative evaluation of sufficiency; it is
left to professional judgment.
The following circumstances justify an alternative evaluation of sufficiency for the City:
•The City has at least a 5-year history of generally paying at least 100% of the Actuarially Determined
Contribution (previously termed the Annual Required Contribution).
•The Actuarially Determined Contribution is based on a closed amortization period, which means that
payment of the Actuarially Determined Contribution each year will bring the plan to a 100% funded
position by the end of the amortization period.
•GASB 68 specifies that the projections regarding future solvency assume that plan assets earn the
assumed rate of return and there are no future changes in the plan provisions or actuarial methods and
assumptions which means that the projections would not reflect any adverse future experience which
might impact the plan's funded position.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 10: DEFINED BENEFIT PENSION PLANS
98
Based on these circumstances, the City believes that the detailed depletion date projections outlined in GASB 68
will show that the fiduciary net position is always projected to be sufficient to cover benefit payments and
administrative expenses.
June 30, 2024 June 30, 2025
Discount rate 6.50%6.50%
Long-term expected rate of return, net of
investment expense 6.50%6.50%
Municipal bond rate N/A N/A
The Plan II’s fiduciary net position was projected to be available to make all projected future benefit payments of
current active and inactive employees. Therefore, the discount rate for calculating the total pension liability is
equal to the long-term expected rate of return.
The assumption for the long-term expected rate of return was selected by the City. Below is a projection of the 30
year average return derived by adding expected inflation to expected long-term real returns and reflecting and
expected volatility and correlation on the Plan’s current asset allocation. The capital market assumptions are per
Milliman’s investment consulting practice as of June 30, 2025.
Long-Term Long-Term
Expected Expected
Arithmetic Geometric
Target Real Rate Real Rate
Asset Class Index Allocation of Return of Return
US Cash BAML 3-Month T-Bills 9.50 % 0.94 % 0.91 %
US Core Fixed Income (Aggregate)Bloomberg Barclays Aggregate 31.91 % 2.52 % 2.36 %
US Short (1-3 Yr) Bonds Bloomberg US Govt/Credit 1-3 Yr 9.53 % 1.65 % 1.59 %
US High Yield Bonds ICE BofA US High Yield 1.43 % 4.43 % 3.87 %
US Large & Mid Cap Equity Russell 1000 25.24 % 5.41 % 3.74 %
US Mid Cap Equity Russell Mid Cap 4.76 % 5.98 % 3.90 %
US Small Cap Equity Russell 2000 7.14 % 6.99 % 4.41 %
Foreign Developed Equity MSCI EAFE NR USD 5.72 % 6.92 % 5.12 %
Emerging Markets Equity MSCI EM NR USD 3.10 % 9.34 % 6.21 %
US REITs FTSE Nareit All Equity REITS 1.67 % 6.91 % 4.72 %
Assumed Inflation - Mean 2.31 % 2.30 %
Assumed Inflation - Standard Deviation 1.45 % 1.45 %
Portfolio Real Mean Return 4.06 % 3.58 %
Portfolio Nominal Mean Return 6.37 % 5.99 %
Portfolio Standard Deviation 9.18 %
City's Long-Term Expected Rate of Return 6.50 %
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 10: DEFINED BENEFIT PENSION PLANS
99
8. Changes in Net Pension Asset
The City’s net pension asset for the Retirement Enhancement Plan is measured as the total pension liability, less
the pension plan’s fiduciary net position. The net pension asset of the Plan II is measured as of June 30, 2025,
using an annual actuarial valuation as of June 30, 2024.
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
(a)(b)(c) = (a) - (b)
Balance at June 30, 2024 $ 2,828,756 $ 3,368,680 $ (539,924)
Changes recognized for the
measurement period:
Service cost 21,957 – 21,957
Interest on total pension liability 178,026 – 178,026
Effect of economic/demographic 219,877 – 219,877
Effect of assumptions changes or inputs
Benefit payments (227,282) (227,282) –
Employer contributions – 78,797 (78,797)
Net investment income – 303,248 (303,248)
Administrative expense – (1,225) 1,225
Net changes during 2023-24 192,578 153,538 39,040
Balance at June 30, 2025 $ 3,021,334 $ 3,522,218 $ (500,884)
9. Sensitivity of Net Pension Asset to Changes in the Discount Rate
The following presents the net pension asset, calculated using the discount rate of (6.50%), as well as what the
net pension liability would be if it were calculated using a discount rate that is one percentage point lower (5.50%)
or one percentage point higher (7.50%) than the current rate:
Discount Rate Current Discount Rate
-1 Percent Discount Rate +1 Percent
(5.50%)(6.50%)(7.50%)
Plan's net pension liability/(asset)$ (190,027) $ (500,884) $ (765,524)
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 10: DEFINED BENEFIT PENSION PLANS
100
10. Pension Expense and Deferred Outflows/Inflows of Resources Related to Pensions
For the year ended June 30, 2025, the City recognized pension expense of $101,592. At June 30, 2025, the City
reported deferred outflows of resources and deferred inflows of resources related to pensions from the following
sources:
Deferred
Outflows Deferred Inflows
of Resources of Resources
Changes of assumptions $ – $ (465)
Differences between expected and
actual experience 187,268 –
Net difference between projected
and actual earnings on pension
plan investments – (16,617)
Total $ 187,268 $ (17,082)
Amounts currently reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized in pension expense as follows:
Deferred
Outflows/
(Inflows)
Fiscal year ended June 30,of Resources
2026 $ 185,276
2027 15,976
2028 (13,253)
2029 (17,813)
Total $ 170,186
NOTE 11: DEFINED CONTRIBUTION PENSION PLAN
The City currently offers an alternative plan for employees classified as part-time, seasonal or temporary (PST).
The plan is administered by the Public Agency Retirement Services (PARS) and is a qualified deferred
compensation plan created in accordance with Internal Revenue Code Section 457(b). All amounts of
compensation deferred under the plan, all property, or rights are solely the property and rights of the employee
and beneficiaries of the plan. Deferred compensation funds are not subject to claims of the City’s general creditor;
consequently, the assets and related liabilities of the plan are not included within the City’s financial statements.
The City contributes 4.89% percent of the employee’s compensation. In addition, each participant is required to
contribute 4.89% of their salary. During the current fiscal year, the City contributed $78,797 to the plan.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 10: DEFINED BENEFIT PENSION PLANS
101
A. Plan Description
The City administers an agent, multiple-employer defined benefit plan which provides medical benefits to eligible
retirees and their spouses in accordance with various labor agreements.
B. Employees Covered
An employee is eligible for this employer contribution provided they are vested in their CalPERS pension benefit
and commence payment of their pension benefit within 120 days of retirement with the City. Vesting requires at
least 5 years of CalPERS total service. The surviving spouse of an eligible retiree who elected spouse coverage
under CalPERS is eligible for the employee contribution upon the death of the retiree.
Employees hired on or before July 1, 2007, who have 20 years or more of service with the City of Rosemead, and
who retire from the City, receive an allowance of up to $1,000 per month for health care benefits for the duration
of their retirement. Employees hired on or before July 1, 2007, who have 12-19 years of service with the City of
Rosemead, and who retire from the City, receive an allowance up to $500 per month for health care benefits for
the duration of their retirement. For these retirees, the cost of the health insurance is deducted from the retiree’s
monthly pension payment, and then reimbursed, up to the limits defined herein exclusive of the required PEMHCA
minimum, from the City. At age 65, Medicare automatically becomes the primary provider of health coverage with
the City’s provided plan becoming secondary. These benefits are for the benefit of the retiree, their spouse, and/
or any eligible dependent.
For employees hired after July 1, 2007, the City provides the minimum required employer contribution under the
CalPERS Health Plan (HC Plan) for eligible retirees and surviving spouses in receipt of a pension benefit from
CalPERS.
The minimum required employer contribution is statutorily set under PEMHCA and is scheduled to increase in the
future based on the medical portion of CPI. Minimum required employer contributions for the calendar years 2024
and 2025 were $157 and $158, respectively.
Inactive members currently receiving benefits 30
Inactive members entitled to but not yet receiving benefits 9
Active members 77
Total 116
C. Contributions
The contribution requirements of plan members and the City are established and may be amended by City
Council. On May 26, 2009, the City Council passed a resolution to participate in the PARS Public Agencies Post-
Retirement Health Care Plan Trust, an irrevocable trust established to fund post-employment benefits for its
employees. The purpose of the trust is to accumulate, hold, and distribute medical benefit plan assets for the
exclusive benefit of retirees and beneficiaries within the IRS Code Section 115 and in conformance with the
accounting standard. The trust is administered by Public Agency Retirement Services (PARS). PARS issues a
separate annual financial report. Copies of the PARS annual financial report may be obtained from PARS, 4350
Von Karman Avenue, Suite 100, Newport Beach, California 92660.
For the measurement date ended June 30, 2024, the City recognized a total of $148,324 as a reduction to the net
OPEB liability.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 12: POST-EMPLOYMENT BENEFIT PLAN
102
D. Net OPEB Liability
The City’s net OPEB liability was measured as of June 30, 2024, and the total OPEB liability used to calculate the
net OPEB liability was determined by an actuarial valuation dated June 30, 2023 was used to determine the total
OPEB liability, based on the following actuarial methods and assumptions:
Valuation Date June 30, 2023
Discount Rate 5.50%
Long-term Rate of Return 5.50%
Cost Method Entry Age Normal
Latest Experience Study Date No experience study was performed for the Plan. the CalPERS
2000-2019 Experience Study was the basis for assumptions
Mortality CalPERS 2000-2019 Experience Study. Mortaility projected fully
generational with Scale MP-2021
Salary Scale Aggregate 2.75% per year
Inflation 2.50%
PEMHCA Minimum Increase 3.50% annually
Participation Rate PEMHCA Minimum - 70% currently covered; 50% currently waived
$500 - 80% current covered; 65% currently waived
$1,000 - 100% currently covered; 80% currently waived
Merit - CalPERS 1997-2015 experience study.
Employer Contribution Cap Increase No future increases on $500 and $1,000 benefit
Change of assumptions 1) Updated medical trend rate
2) CalPERS 2000-2019 Experience Study was used for demographic
assumptions and merit salary increases
3) Mortality improvement scale was updated to Scale MP-2021
4) No future waived retiree re-elections assumed
5) PEMHCA minimum increases updated to 3.50% annually
Changes of benefit terms None
E. Expected Long-Term Rate of Return
The long-term expected rate of return on OPEB plan investment can be determined using a building-block method
in which the best-estimate ranges of expected future real rates of return (expected returns, net of OPEB plan
investment expenses and inflation) are developed for each major asset class.
These ranges are combined to produce the long-term expected rate of return by weighting the expected future
real rates of return by target asset allocation percentage and by adding expected inflation.
Best estimates for geometric real rates of return for each major asset class included int he OPEB plan’s target
allocation adopted as of June 30, 2024 as provided by PARS-Moderate, are summarized in the following table:
Asset Class
Target Allocation
PARS-Moderate
Long-Term
Expected Real
Rate of Return
Global Equity 50.00 % 4.56 %
Fixed Income 45.00 % 0.78 %
Cash 5.00 % (0.50) %
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 12: POST-EMPLOYMENT BENEFIT PLAN (CONTINUED)
103
F. Discount Rate
The discount rate used to measure the total OPEB liability was 5.50%. The projection of cash flows used to
determine the discount rate assumed that City contributions will be made at rates equal to the actuarially
determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected
to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries.
Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected
benefit payments to determine the total OPEB liability.
G. Changes in the OPEB Liability/(Asset)
The changes in the net OPEB liability for the Plan are as follows:
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
(a)(b)(c) = (a) - (b)
Balance at June 30, 2024 $ 4,699,552 $ 4,078,907 $ 620,645
Changes recognized for the
measurement period:
Service cost 124,465 – 124,465
Interest on total OPEB liability 259,459 – 259,459
Contributions-employer – 148,324 (148,324)
Net investment income – 469,692 (469,692)
Benefit payments, including refunds of
employee contributions (213,150) (213,150) –
Administrative expense – (11,270) 11,270
Net changes during 2024-25 170,774 393,596 (222,822)
Balance at June 30, 2025 $ 4,870,326 $ 4,472,503 $ 397,823
H. Sensitivity of the Net OPEB Liability/(Asset) to Changes in the Discount Rate
The following presents the net OPEB liability/(asset) of the City if it were calculated using a discount rate that is
one percentage point lower or one percentage point higher than the current rate, for measurement period ended
June 30, 2024:
Discount Rate Current Discount Rate
-1%Discount Rate +1%
4.50%5.50%6.50%
Plan's net OPEB liability/(asset)$ 987,469 $ 397,823 $ (98,389)
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 12: POST-EMPLOYMENT BENEFIT PLAN (CONTINUED)
104
I. Sensitivity of the Net OPEB Liability/(Asset) to Changes in the Health Care Cost Trend Rates
The following presents the net OPEB liability/(asset) of the City if it were calculated using health care cost trend
rates that are one percentage point lower or one percentage point higher than the current rate, for measurement
period ended June 30, 2024:
Current
1%Heathcare 1%
Decrease Trend Rate Increase
Plan's net OPEB liability/(asset)$ 95,831 $ 397,823 $ 717,668
J. OPEB Plan Fiduciary Net Position
PARS issues a publicly available financial report that includes financial statements and required supplementary
information. That report may be obtained from the Public Agency Retirement Services, 4350 Von Karman Ave,
Newport Beach, California 92660.
K. OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB
For the fiscal year ended June 30, 2025, the City recognized OPEB expense of $104,726. As of fiscal year ended
June 30, 2025, the City reported deferred outflows of resources related to OPEB from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Contributions subsequent to the
measurement date $ 218,936 $ –
Changes of assumptions 105,205 11,909
Differences between expected and
actual experience – 318,220
Net difference between projected
and actual earnings on pension
plan investments – 17,557
Total $ 324,141 $ 347,686
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 12: POST-EMPLOYMENT BENEFIT PLAN (CONTINUED)
105
The $218,936 reported as deferred outflows of resources related to contributions subsequent to the measurement
date will be recognized as a reduction of the net OPEB liability in the next fiscal year. The amounts reported as
deferred inflows of resources related to OPEB will be recognized as expense as follows:
Deferred
Outflows/(Inflows)
Fiscal year ended June 30,of Resources
2026 $ (84,591)
2027 39,451
2028 (88,626)
2029 (55,893)
2030 (16,072)
Thereafter (36,750)
Total $ (242,481)
NOTE 13: COMMITMENTS AND CONTINGENCIES
The City is a member of the Los Angeles County Liability Trust Fund (the Trust Fund), which was set up to pay for
litigation involving the Los Angeles County Sheriffs' Department within any of the 40 cities that are served by the
Los Angeles County Sheriffs' Department. The Trust Fund was and is being funded by the 40 cities based upon
each city's allocated surcharge, calculated as a percentage of each city's contribution to the total contracted
amount with the County paid to Los Angeles County for the use of its deputies. Based upon the agreement signed
by all of the 40 cities at the time the Trust Fund originated, the cities will be jointly liable for any and all claims filed
against the Los Angeles County Sheriffs' Department, regardless of the location within the 40 cities. The City is a
defendant in certain legal actions arising in the normal course of operations. In the opinion of management, any
liability resulting from such actions will not have a material adverse effect on the City's financial position.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 12: POST-EMPLOYMENT BENEFIT PLAN (CONTINUED)
106
At June 30, 2025, the City reports governmental fund balance classifications as follows:
General Fund City Grants Fund HOME Fund
Total Nonmajor
Funds
Total
Governmental
Funds
Nonspendable
Notes and loans receivable $ 251,777 $ — $ — $ — $ 251,777
Prepaid costs 137,030 — — 251 137,281
Total nonspendable 388,807 — — 251 389,058
Restricted
Community services — — 2,906,636 1,275,945 4,182,581
Low and moderate income housing — — — 378,268 378,268
Public works — — — 22,684,939 22,684,939
Capital projects — — — 7,514,938 7,514,938
Total restricted — — 2,906,636 31,854,090 34,760,726
Committed
Reserve 12,446,584 — — — 12,446,584
Capital projects 214,915 — — — 214,915
Total committed 12,661,499 — — — 12,661,499
Assigned
Building maintenance 71,617 — — — 71,617
Tree in-lieu 64,421 — — — 64,421
Total assigned 136,038 — — — 136,038
Unassigned 23,841,738 (107,764) — (221,866) 23,512,108
Total fund balances (deficits)$ 37,028,082 $ (107,764) $ 2,906,636 $ 31,632,475 $ 71,459,429
NOTE 15: SUCCESSOR AGENCY
On December 29, 2011, the California Supreme Court upheld AB lX 26 that provides for the dissolution of all
redevelopment agencies in the State of California. This action impacted the reporting entity of the City that
previously had reported the former Agency within the reporting entity of the City as a blended component unit. In
June 2012, the Legislature adopted AR 1484, which amended portions of AB lX 26 and added certain new
provisions. AB lX 26 and AB 1484 are collectively referred to herein as the "Bill."
The Bill provides that upon dissolution of a redevelopment agency, either city or another unit local government will
agree to serve as the "successor agency" to hold the assets until they are distributed to other units of state and
local government. The successor agency is defined as being a separate legal entity from the City. On January 10,
2012, the City Council elected to become the Successor Agency for the former Redevelopment Agency in
accordance with the Bill as part of City resolution number 28029. The assets and activities of the Successor
Agency for the former Agency are reported in a fiduciary fund (private-purpose trust fund) in the financial
statements of the City.
Subject to the approval of the oversight board and the State of California Department of Finance (DOF),
remaining assets can only be used to pay enforceable obligations in existence at the date of dissolution (including
the completion of any unfinished projects that were subject to legally enforceable contractual commitments).
Successor agencies are allocated property tax revenue in the amount that is necessary to pay the estimated
installment payments on enforceable obligations of the former redevelopment agencies until all enforceable
obligations of the prior redevelopment agencies have been paid in full and all assets have been liquidated.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 14: FUND BALANCE CLASSIFICATIONS
107
A. Cash and Investments
Cash and investments of the Successor Agency consist of demand deposit held with financial institutions and
restricted cash held with fiscal agents for the purpose of debt service payments and bond covenants. The cash
and investments reported in the accompanying financial statements consisted of $4,748,224, of which $4,747,265
was held as part of the City’s cash pool, and the remaining $959 was held with fiscal agents.
B. Long-Term Debt
The debt of the Successor Agency as of June 30, 2025 is as follows:
Amount
Balance Balance Due Within
June 30, 2024 Additions Deletions June 30, 2025 One Year
Bonds payable
Tax Allocation Bonds, Series 2016 $ 15,540,000 $ – $ 1,245,000 $ 14,295,000 $ 1,305,000
Premium 961,148 – 106,794 854,354 –
Total $ 16,501,148 $ – $ 1,351,794 $ 15,149,354 $ 1,305,000
Future debt service requirements are as follows:
June 30 Principal Interest
2026 $ 1,305,000 $ 612,625
2027 1,370,000 545,750
2028 1,440,000 475,500
2029 1,520,000 409,100
2030 1,575,000 339,325
2031-2034 7,085,000 589,975
Total $ 14,295,000 $ 2,972,275
1. 2016 Subordinate Tax Allocation Refunding Bonds
In October 2016, the Successor Agency to the Rosemead Redevelopment Agency (Successor Agency) issued the
2016 Subordinate Tax Allocation Refunding Bonds in the amount of $24,230,000 for the purpose of refunding, on
a current basis, all of the outstanding Rosemead Community Development Commission Redevelopment Project
Area No. 1 Tax Allocation Bonds, Series 2006A, initially issued in the principal amount of $14,005,000, and the
Rosemead Community Development Commission Redevelopment Project Area No. 1 Tax Allocation Refunding
Bonds, Series 2006B, initially issued in the principal amount of $24,230,000. Interest is payable semi-annually on
April 1 and October 1. The bonds are subject to acceleration upon on event of default. If an event of default has
occurred, the principal of the bonds, together with the interest thereon, are due and payable immediately. As of
June 30, 2025, the outstanding balance was $14,295,000.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 15: SUCCESSOR AGENCY (CONTINUED)
108
C. Pledged Revenue
The City pledged, as security for the bonds issued, a portion of tax increment revenue (including Low and
Moderate Income Housing set-aside and pass through allocations) that it received. The bonds were issued to
provide financing for various capital projects, accomplish Low and Moderate Income Housing projects, and to
defease previously issued bonds. Assembly Bill 1X 26 provided that upon dissolution of the redevelopment
activities of the redevelopment agency, property taxes allocated to redevelopment activities are no longer deemed
tax increment, but rather property tax revenues and will be allocated first to successor agencies to make
payments on the indebtedness incurred by the dissolved redevelopment agency. Total principal and interest
remaining on the debt as of June 30, 2025 is $17,267,275 with annual debt service requirements as indicated
above. For the current year, the total property tax revenue recognized by the successor agency for the payment
of indebtedness incurred by the dissolved redevelopment agency was $2,517,914 and the debt service obligation
on the bonds was $1,921,375.
NOTE 16: PRIOR PERIOD ADJUSTMENTS
A. Change in Accounting Principles
For fiscal year ended June 30, 2025, the City implemented GASB Statement No. 101, Compensated Absences,
which replaces the previous GASB Statement No. 16, Accounting for Compensated Absences, to update the
recognition and measurement guidance for compensated absences. Under this statement, the City is required to
change their estimate of compensated absence liability to leave being “more likely than not” rather than a
probability. The effect of the implementation of the change in accounting principles resulted in adjustments to and
restatement of beginning net position in the governmental activities, as follows:
June 30, 2024 Changes in
As Previously Accounting June 30, 2024
Reported Principle As Restated
Government-wide
Governmental activities $ 124,601,682 $ (1,156,541) $ 123,445,141
Total government-wide $ 124,601,682 $ (1,156,541) $ 123,445,141
NOTE 17: BUDGETARY INFORMATION
1. Annual budgets are legally adopted on a basis consistent with accounting principles generally accepted in
the United States of America for all governmental funds. All annual appropriations lapse at fiscal year-end.
2. On or before the last day in March of each year, all business units and component units of the government
submit requests for appropriations to the City Manager so that a budget may be prepared. Before the first
Thursday of June, the proposed budget is presented to the City Council for review. The Council holds public
meetings and a final budget must be prepared and adopted no later than June 30.
3. The appropriated budget is prepared by fund and department. The City's Department Directors, with
approval of the Finance Director and City Manager, may make transfers of appropriations within a
department and between departments within a fund. Transfers of appropriations between funds must be
approved by the City Council. The legal level of budgetary control (i.e., the level at which expenditures may
not legally exceed appropriations) is the fund level. The Council made several supplemental budgetary
appropriations throughout the year. The supplemental budgetary appropriations made in the various
governmental funds are detailed in the required supplementary information. Budgets were legally adopted
for all governmental funds.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 15: SUCCESSOR AGENCY (CONTINUED)
109
4. Encumbrance accounting is employed in governmental funds. Encumbrances (e.g., purchase orders, and
contracts) outstanding at year end do not constitute expenditures or liabilities because the commitments will
be appropriated and honored during the subsequent year.
NOTE 18: SUBSEQUENT EVENTS
The City evaluated subsequent events for recognition and disclosure through December 19, 2025, the date on
which these financial statements were available to be issued. Management concluded that no material
subsequent events have occurred since June 30, 2025, that required recognition or disclosure in these financial
statements.
CITY OF ROSEMEAD
Notes to Financial Statements
For the Year Ended June 30, 2025
NOTE 17: BUDGETARY INFORMATION (CONTINUED)
110
Required Supplementary Information
111
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112
Budgetary Comparison Schedules
113
THIS PAGE INTENTIONALLY LEFT BLANK
114
General Fund
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Property taxes $ 23,959,800 $ 23,959,800 $ 24,188,307 $ 228,507
Licenses and permits 3,395,900 3,395,900 4,131,334 735,434
Intergovernmental 591,600 591,600 749,343 157,743
Charges for services 1,109,100 1,109,100 1,347,930 238,830
Use of money and property 1,385,800 1,385,800 2,093,942 708,142
Fines and forfeitures 648,900 648,900 630,021 (18,879)
Miscellaneous 32,000 32,000 57,343 25,343
Total revenues 31,123,100 31,123,100 33,198,220 2,075,120
EXPENDITURES
Current:
General government 5,957,600 5,957,600 5,824,202 133,398
Public safety 13,055,200 13,055,200 12,570,051 485,149
Community development 2,617,300 2,617,300 2,576,011 41,289
Parks and recreation 4,512,950 4,512,950 4,597,211 (84,261)
Public works 4,351,300 4,351,300 4,505,604 (154,304)
Capital outlay 55,050 269,965 134,412 135,553
Debt service:
Principal retirement 144,300 144,300 91,755 52,545
Interest and fiscal charges – – 21,915 (21,915)
Total expenditures 30,693,700 30,908,615 30,321,161 587,454
Excess (deficiency) of revenues
over (under) expenditures 429,400 214,485 2,877,059 2,662,574
OTHER FINANCING SOURCES (USES)
Transfers in – 480,414 480,414 –
Transfers out (400,000) (900,000) (900,000) –
Lease arrangements entered into – – 104,706 104,706
Total other financing sources (uses) (400,000) (419,586) (314,880) 104,706
Net change in fund balance $ 29,400 $ (205,101) 2,562,179 $ 2,767,280
Fund balance-beginning 34,465,903
Fund balance-ending $ 37,028,082
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
General Fund
For the Year Ended June 30, 2025
115
City Grants Fund
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 385,000 $ 385,000 $ 279,941 $ (105,059)
Use of money and property – – 76,062 76,062
Total revenues 385,000 385,000 356,003 (28,997)
EXPENDITURES
Current:
Public safety – – 27,960 (27,960)
Community development 250,000 250,000 – 250,000
Public works 22,000 22,000 16,694 5,306
Capital outlay 113,000 458,925 337,099 121,826
Total expenditures 385,000 730,925 381,753 349,172
Net change in fund balance $ – $ (345,925) (25,750) $ 320,175
Fund balance-beginning (82,014)
Fund balance-ending $ (107,764)
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
City Grants Fund
For the Year Ended June 30, 2025
116
American Rescue Plan
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 665,400 $ 665,400 $ 2,771,157 $ 2,105,757
Total revenues 665,400 665,400 2,771,157 2,105,757
EXPENDITURES
Current:
General government 205,000 205,000 202,998 2,002
Community development 100,400 100,400 19,599 80,801
Public works 180,000 180,000 121,924 58,076
Capital outlay 180,000 4,289,625 2,426,636 1,862,989
Total expenditures 665,400 4,775,025 2,771,157 2,003,868
Net change in fund balance $ – $ (4,109,625) – $ 4,109,625
Fund balance-beginning –
Fund balance-ending $ –
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
American Rescue Plan
For the Year Ended June 30, 2025
117
HOME Fund
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 2,889,200 $ 2,889,200 $ 722,815 $ (2,166,385)
Use of money and property 19,500 19,500 11,432 (8,068)
Total revenues 2,908,700 2,908,700 734,247 (2,174,453)
EXPENDITURES
Current:
Community development 2,209,500 2,209,500 2,007,572 201,928
Total expenditures 2,209,500 2,209,500 2,007,572 201,928
Net change in fund balance $ 699,200 $ 699,200 (1,273,325) $ (1,972,525)
Fund balance-beginning 4,179,961
Fund balance-ending $ 2,906,636
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
HOME Fund
For the Year Ended June 30, 2025
118
Pension Plan
119
THIS PAGE INTENTIONALLY LEFT BLANK
120
Schedules of Proportationate Share of Net Pension Liability
Proportionate Share Plan's Fiduciary
Proportion of the Proportionate of the Net Pension Net Position as a
Reporting Date 1 Net Pension Share of Net Liability as a % of % of the Total
as of June 30,Liability Pension Liability Covered Payroll Covered Payroll Pension Liability
2025 0.0890%$ 10,796,104 $ 5,017,695 215.2%79.9%
2024 0.8713% 10,869,642 4,412,785 246.3%76.2%
2023 0.8744% 10,099,523 4,185,828 241.3%76.7%
2022 0.0834% 4,509,289 3,888,373 116.0%88.3%
2021 0.0828% 9,007,798 3,832,817 235.0%75.3%
2020 0.0864% 8,856,781 3,903,914 226.9%75.3%
2019 0.0919% 8,688,626 3,761,962 231.0%75.3%
2018 0.0966% 9,309,566 3,690,780 252.2%73.3%
2017 0.0996% 8,617,416 3,444,503 250.2%74.1%
2016 0.2784% 7,638,064 4,604,511 165.9%69.7%
Notes to Schedule of Proportionate Share of the Net Pension Liability
Benefit Changes: None
Changes of Assumptions: None
CITY OF ROSEMEAD
Schedules of Proportationate Share of Net Pension Liability
As of June 30, for the Last Ten Fiscal Years
121
Schedules of Plan Contributions
2025 2024 2023 2022
Actuarially Determined Contribution $ 1,479,792 $ 1,234,817 $ 1,172,969 $ 1,036,079
Contribution in Relation to the Actuarially Determined Contributions (1,479,792) (1,234,817) (1,172,969) (1,036,079)
Contribution Deficiency (Excess)$ – $ – $ – $ –
Covered Payroll $ 5,890,095 $ 5,017,695 $ 4,412,785 $ 4,185,828
Contributions as a percentage of Covered Payroll 25.12%24.61%26.58%24.75%
Notes to Schedule of Plan Contributions:
The actuarial methods and assumptions used to set the actuarially determined contributions for fiscal year 2024-25 were derived from the
June 30, 2022 funding valuation report, available on CalPERS' website.
Actuarial Cost Method: Entry Age Normal
Amortization Method/Period: For details, see June 30, 2022 Funding Valuation Report
Asset Valuation Method: Fair value of assets, for details, see June 30, 2022 Funding Valuation Report
Inflation: 2.30%
Salary Increases: Varies by entry age and service
Payroll Growth: 2.80%
Investment Rate of Return: 6.80% (net of administrative expenses)
Retirement Age: For details, see June 30, 2022 Funding Valuation Report
Mortality: For details, see June 30, 2022 Funding Valuation Report
CITY OF ROSEMEAD
Schedules of Plan Contributions
As of June 30, For the Last Ten Fiscal Years
122
2021 2020 2019 2018 2017 2016
$ 1,013,310 $ 1,446,875 $ 1,389,145 $ 1,487,464 $ 1,113,875 $ 1,113,875
(1,013,310) (1,446,875) (1,389,145) (1,487,464) (1,113,875) (1,113,875)
$ – $ – $ – $ – $ – $ –
$ 3,888,373 $ 3,832,817 $ 3,903,914 $ 3,761,962 $ 3,690,780 $ 3,444,503
26.06%37.75%35.58%39.54%30.18%32.34%
CITY OF ROSEMEAD
Schedules of Plan Contributions (Continued)
As of June 30, 2023, For the Last Ten Fiscal Years
123
Schedule of Changes in the Net Pension Liability/(Asset) and Related Ratios - PARS Retirement Enhancement Plan
2025 2024 2023 2022
Measurement Date 6/30/2025 6/30/2024 6/30/2023 6/30/2022
TOTAL PENSION LIABILITY
Service cost $ 21,957 $ 23,129 $ 22,499 $ 24,732
Interest 178,026 179,675 173,711 175,746
Effect of liability gains or losses 219,877 – 120,849 –
Effect of assumption changes or inputs – – (1,863) –
Benefit payments, including refunds of employee contributions (227,282) (226,723) (221,524) (237,325)
Net change in total pension liability 192,578 (23,919) 93,672 (36,847)
Total pension liability-beginning 2,828,756 2,852,675 2,759,003 2,795,850
Total pension liability-ending (a) 3,021,334 2,828,756 2,852,675 2,759,003
PLAN FIDUCIARY NET POSITION
Contributions-employer 78,797 81,312 75,945 68,424
Net investment income 303,248 336,191 208,826 (459,657)
Benefit payments, including refunds of employee contributions (227,282) (226,723) (221,524) (237,325)
Administrative expense (1,225) – – –
Other changes in fiduciary net position – (1,154) (1,231) (1,280)
Net change in fiduciary net position 153,538 189,626 62,016 (629,838)
Plan fiduciary net position-beginning 3,368,680 3,179,054 3,117,038 3,746,876
Plan fiduciary net position-ending (b) 3,522,218 3,368,680 3,179,054 3,117,038
Net pension liability/(asset) (a) - (b)$ (500,884) $ (539,924) $ (326,379) $ (358,035)
Plan fiduciary net position as a percentage of the total pension
liability 116.6%119.1%111.4%113.0%
Covered payroll $ 1,610,287 $ 1,566,427 $ 1,663,456 $ 1,618,148
Plan net pension liability/(asset) as a percentage of covered-
employee payroll -31.1%-34.5%-19.6%-22.1%
CITY OF ROSEMEAD
Schedule of Changes in the Net Pension Liability/(Asset) and Related Ratios
PARS Retirement Enhancement Plan
As of June 30, for the Last Ten Fiscal Years
124
2021 2020 2019 2018 2017 2016
6/30/2021 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016
$ 24,070 $ 25,883 $ 25,190 $ 37,502 $ 36,410 $ 45,435
171,039 172,888 170,716 171,215 192,440 191,270
110,471 – 17,567 – (355,400) –
– – 32,827 – – –
– – – – – –
(230,403) (220,611) (206,738) (201,490) (200,693) (218,411)
75,177 (21,840) 39,562 7,227 (327,243) 18,294
2,720,673 2,742,513 2,702,951 2,695,724 3,022,967 3,004,673
2,795,850 2,720,673 2,742,513 2,702,951 2,695,724 3,022,967
75,165 112,649 131,770 140,376 164,389 265,241
660,793 96,972 187,985 175,605 266,884 (2,345)
(230,403) (220,611) (206,738) (201,490) (200,693) (218,411)
– – – – – –
(1,316) (1,441) (1,440) (1,461) (6,848) (2,624)
504,239 (12,431) 111,577 113,030 223,732 41,861
3,242,637 3,255,068 3,143,491 3,030,461 2,806,729 2,764,868
3,746,876 3,242,637 3,255,068 3,143,491 3,030,461 2,806,729
$ (951,026) $ (521,964) $ (512,555) $ (440,540) $ (334,737) $ 216,238
134.0%119.2%118.7%116.3%112.4%92.8%
$ 1,780,371 $ 2,300,378 $ 2,238,812 $ 2,178,892 $ 2,414,510 $ 2,344,184
-53.4%-22.7%-22.9%-20.2%-13.9%9.2%
CITY OF ROSEMEAD
Schedule of Changes in the Net Pension Liability/(Asset) and Related Ratios (Continued)
PARS Retirement Enhancement Plan
As of June 30, for the Last Ten Fiscal Years
125
PARS Retirement Enhancement Plan - Schedule of Contributions
2025 2024 2023 2022
Actuarially Determined Contribution $ 21,930 $ 23,129 $ 22,492 $ 24,747
Contribution in Relation to the Actuarially Determined Contributions (78,797) (81,312) (75,945) (68,424)
Contribution Deficiency (Excess)$ (56,867) $ (58,183) $ (53,453) $ (43,677)
Covered Payroll $ 1,610,287 $ 1,566,427 $ 1,663,456 $ 1,618,148
Contributions as a percentage of Covered Payroll 4.89%5.19%4.57%4.23%
Notes to Schedule of Plan Contributions:
The actuarial methods and assumptions used to set the actuarially determined contributions for fiscal year 2024-25 were derived from the
June 30, 2022 funding valuation report prepared by Milliman.
Actuarial Cost Method: Entry Age Normal
Amortization Method/Period: Level dollar, closed period, amortized over 20 years
Asset Valuation Method: Fair value of assets
Inflation: 2.30%
Salary Increases: Varies by entry age and service
Payroll Growth: 2.80%
Investment Rate of Return: 6.50%
Retirement Age: 20% retirement at age 60; 30% retirement at age 55; 100% retirement assumed at age 80.
Mortality: Consisent with CalPERS Miscellaneous Pension Plans after June 30, 2021.
CITY OF ROSEMEAD
PARS Retirement Enhancement Plan
Schedule of Contributions
As of June 30, for the Last Ten Fiscal Years1
126
2021 2020 2019 2018 2017 2016
$ 20,100 $ 25,970 $ 73,864 $ 81,888 $ 88,845 $ 116,244
(75,165) (112,649) (131,770) (140,376) (164,389) (265,241)
$ (55,065) $ (86,679) $ (57,906) $ (58,488) $ (75,544) $ (148,997)
$ 1,780,371 $ 2,300,378 $ 2,238,812 $ 2,178,892 $ 2,414,510 $ 2,344,184
4.22%4.90%5.89%6.44%6.81%11.31%
CITY OF ROSEMEAD
PARS Retirement Enhancement Plan
Schedule of Contributions (Continued)
As of June 30, for the Last Ten Fiscal Years1
127
Schedule of Changes in the Net OPEB Liability/(Asset) and Related Ratios - Safety Plan
2025 2024 2023 2022
Measurement Date 6/30/2024 6/30/2023 6/30/2022 6/30/2021
TOTAL OPEB LIABILITY
Service cost $ 124,465 $ 118,873 $ 115,691 $ 116,753
Interest on total OPEB liability 259,459 259,041 250,578 258,626
Actual and expected difference — (168,492) — (106,136)
Changes in assumptions — 3,113 — 200,671
Benefit payments, including refunds of employee contributions (213,150) (207,902) (223,257) (223,397)
Net change in total OPEB liability 170,774 4,633 143,012 246,517
Total OPEB liability-beginning 4,699,552 4,694,919 4,551,907 4,305,390
Total OPEB liability-ending (a) 4,870,326 4,699,552 4,694,919 4,551,907
PLAN FIDUCIARY NET POSITION
Contributions-employer 148,324 155,407 100,859 179,672
Net investment income 469,692 279,950 (607,709) 848,323
Benefit payments (213,150) (207,902) (223,257) (223,397)
Administrative expense (11,270) (10,548) (11,901) (11,139)
Net change in fiduciary net position 393,596 216,907 (742,008) 793,459
Plan fiduciary net position-beginning 4,078,907 3,862,000 4,604,008 3,810,549
Plan fiduciary net position-ending (b) 4,472,503 4,078,907 3,862,000 4,604,008
Net OPEB liability/(asset) (a) - (b)$ 397,823 $ 620,645 $ 832,919 $ (52,101)
Plan fiduciary net position as a percentage of the total OPEB
liability 91.8%86.8%82.3%101.1%
Covered-employee payroll $ 5,017,695 $ 4,412,785 $ 4,185,828 $ 3,888,373
Plan net OPEB liability/(asset) as a percentage of covered-
employee payroll 7.9%14.1%19.9%-1.3%
Notes to Schedule of Changes in the Net OPEB Liability/(Asset) and Related Ratios:
Benefit Changes: None
Changes in Assumptions: Refer to Note 12 to the Basic Financial Statements
1 Fiscal year 2018 was the first year of implementation; therefore, only eight years are shown.
CITY OF ROSEMEAD
Schedule of Changes in the Net OPEB Liability/(Asset) and Related Ratios
As of June 30, for the Last Ten Fiscal Years1
128
2021 2020 2019 2018
6/30/2020 6/30/2019 6/30/2018 6/30/2017
$ 115,714 $ 155,962 $ 151,419 $ 147,009
249,416 268,709 253,402 237,920
— (479,267) — —
— (42,977) — —
(201,882) (165,606) (142,897) (119,682)
163,248 (263,179) 261,924 265,247
4,142,142 4,405,321 4,143,397 3,878,150
4,305,390 4,142,142 4,405,321 4,143,397
45,227 97,132 22,063 158,082
136,814 242,596 223,704 336,797
(201,882) (165,606) (142,897) (119,682)
(10,252) (9,719) (9,889) (8,925)
(30,093) 164,403 92,981 366,272
3,840,642 3,676,239 3,583,258 3,216,986
3,810,549 3,840,642 3,676,239 3,583,258
$ 494,841 $ 301,500 $ 729,082 $ 560,139
88.5%92.7%83.4%86.5%
$ 3,832,817 $ 3,932,817 $ 3,903,814 $ 3,690,780
12.9%7.7%18.7%15.2%
CITY OF ROSEMEAD
Schedule of Changes in the Net OPEB Liability/(Asset) and Related Ratios (Continued)
As of June 30, for the Last Ten Fiscal Years1
129
Schedule of Contributions
2025 2024 2023 2022
Actuarially Determined Contribution $ 180,915 $ 148,301 $ 154,597 $ 167,000
Contribution in Relation to the Actuarially Determined
Contributions (218,936) (148,324) (154,691) (100,859)
Contribution Deficiency (Excess)$ (38,021) $ (23) $ (94) $ 66,141
Covered-Employee Payroll $ 5,890,095 $ 5,017,695 $ 4,412,785 $ 4,185,828
Contributions as a percentage of Covered-Employee
Payroll 3.72%2.96%3.51%2.41%
The following assumptions were used to determine the
2023/2024 Actuarially Determined Contribution:
Calculation Timing:
The Actuarially Determined Contribution is calculated using a June 30, 2021
valuation date.
Interest Rate:5.50%
Covered Employee Payroll:As reported by the City
Assumptions:
All other assumptions and methods used for determinig the Actuarially
Determined Contribution can be found in the June 30, 2021 Actuarial
Valuation Report for the City of Rosemead Retiree Healthcare Plan prepared
by Foster & Foster Actuaries and Consultants.
1 Fiscal year 2018 was the first year of implementation;
therefore, only seven years are shown.
CITY OF ROSEMEAD
Schedule of Changes in the Net OPEB Liability/(Asset) and Related Ratios (Continued)
As of June 30, for the Last Ten Fiscal Years1
130
2021 2020 2019 2018
$ 163,000 $ 202,000 $ 197,000 $ 192,000
(179,672) (45,227) (97,132) (22,063)
$ (16,672) $ 156,773 $ 99,868 $ 169,937
$ 3,888,373 $ 3,832,817 $ 3,932,817 $ 3,903,814
4.62%1.18%2.47%0.57%
End of RSI
CITY OF ROSEMEAD
Schedule of Changes in the Net OPEB Liability/(Asset) and Related Ratios (Continued)
As of June 30, for the Last Ten Fiscal Years1
131
Combining and Individual Fund Statements and Schedules
132
Nonmajor Governmental Funds
133
THIS PAGE INTENTIONALLY LEFT BLANK
134
Combining Balance Sheet
Special Revenue Funds
SLFRF State Gas Tax
Local
Transportation
and Sidewalk
Grant Proposition A
ASSETS
Cash and investments $ – $ 4,606,837 $ 2,500 $ 3,356,630
Receivables (net of allowance for uncollectible):
Accounts – 8,000 – 137,488
Accrued interest – 41,555 – 30,176
Due from other governments – 120,759 – –
Prepaid costs – – – –
Total assets $ – $ 4,777,151 $ 2,500 $ 3,524,294
LIABILITIES
Accounts payable $ – $ 201,040 $ 2,500 $ 11,798
Retentions payable – – – –
Accrued liabilities – 10,292 – 4,195
Deposits payable – – – –
Due to other funds – – – –
Total liabilities – 211,332 2,500 15,993
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues – – – –
Total deferred inflows of resources – – – –
FUND BALANCES (DEFICITS)
Nonspendable – – – –
Restricted – 4,565,819 – 3,508,301
Unassigned – – – –
Total fund balances (deficits) – 4,565,819 – 3,508,301
Total liabilities, deferred inflows of resources,
and fund balances (deficits)$ – $ 4,777,151 $ 2,500 $ 3,524,294
CITY OF ROSEMEAD
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
135
Special Revenue Funds
Proposition C Measure R Measure M
Air Quality
Management
District
ASSETS
Cash and investments $ 3,607,213 $ 3,537,495 $ 4,255,578 $ 469,403
Receivables (net of allowance for uncollectible):
Accounts – – – –
Accrued interest 32,545 31,096 37,509 4,337
Due from other governments – – – 17,592
Prepaid costs – – – –
Total assets $ 3,639,758 $ 3,568,591 $ 4,293,087 $ 491,332
LIABILITIES
Accounts payable $ 108,314 $ 244,936 $ 60,893 $ 10
Retentions payable – 7,650 – –
Accrued liabilities 2,394 1,450 979 10
Deposits payable – – – –
Due to other funds – – – –
Total liabilities 110,708 254,036 61,872 20
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues – – – –
Total deferred inflows of resources – – – –
FUND BALANCES (DEFICITS)
Nonspendable – – – –
Restricted 3,529,050 3,314,555 4,231,215 491,312
Unassigned – – – –
Total fund balances (deficits) 3,529,050 3,314,555 4,231,215 491,312
Total liabilities, deferred inflows of resources,
and fund balances (deficits)$ 3,639,758 $ 3,568,591 $ 4,293,087 $ 491,332
CITY OF ROSEMEAD
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
136
Special Revenue Funds
Street Lighting
Development
Impact Fee
Traffic
Development
Impact Fee
Public Safety
Development
Impact Fee
General Govt
ASSETS
Cash and investments $ 3,764,668 $ 260,054 $ 34,633 $ 240,684
Receivables (net of allowance for uncollectible):
Accounts – – – –
Accrued interest 33,853 2,318 308 2,214
Due from other governments 27,408 – – –
Prepaid costs – – – –
Total assets $ 3,825,929 $ 262,372 $ 34,941 $ 242,898
LIABILITIES
Accounts payable $ 299,845 $ – $ – $ 3,530
Retentions payable 456 – – –
Accrued liabilities 3,564 – – –
Deposits payable – – – –
Due to other funds – – – –
Total liabilities 303,865 – – 3,530
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues – – – –
Total deferred inflows of resources – – – –
FUND BALANCES (DEFICITS)
Nonspendable – – – –
Restricted 3,522,064 262,372 34,941 239,368
Unassigned – – – –
Total fund balances (deficits) 3,522,064 262,372 34,941 239,368
Total liabilities, deferred inflows of resources,
and fund balances (deficits)$ 3,825,929 $ 262,372 $ 34,941 $ 242,898
CITY OF ROSEMEAD
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
137
Special Revenue Funds
Development
Impact Fee
Parks
Community
Development
Block Grant
HDC Senior
Housing
Road
Maintenance
and
Rehabilitation
Account
ASSETS
Cash and investments $ 936,363 $ – $ 339,257 $ 4,959,414
Receivables (net of allowance for uncollectible):
Accounts – – 1,843 467
Accrued interest 8,321 – 3,016 43,880
Due from other governments – 159,318 470,613 245,682
Prepaid costs – – 251 –
Total assets $ 944,684 $ 159,318 $ 814,980 $ 5,249,443
LIABILITIES
Accounts payable $ – $ 104,730 $ 233,203 $ –
Retentions payable – – – 3,668
Accrued liabilities – 959 – 1,526
Deposits payable – – 46,683 –
Due to other funds – 111,941 156,575 –
Total liabilities – 217,630 436,461 5,194
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues – – – –
Total deferred inflows of resources – – – –
FUND BALANCES (DEFICITS)
Nonspendable – – 251 –
Restricted 944,684 – 378,268 5,244,249
Unassigned – (58,312) – –
Total fund balances (deficits) 944,684 (58,312) 378,519 5,244,249
Total liabilities, deferred inflows of resources,
and fund balances (deficits)$ 944,684 $ 159,318 $ 814,980 $ 5,249,443
CITY OF ROSEMEAD
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
138
Special Revenue Funds
Capital Project
Fund
Clean Water
Fund SB1383
Measure R
Capital Projects
Total
Nonmajor
Funds
ASSETS
Cash and investments $ 1,505,439 $ 302,276 $ – $ 32,178,444
Receivables (net of allowance for uncollectible):
Accounts – – – 147,798
Accrued interest 13,642 2,807 – 287,577
Due from other governments – – 368,114 1,409,486
Prepaid costs – – – 251
Total assets $ 1,519,081 $ 305,083 $ 368,114 $ 34,023,556
LIABILITIES
Accounts payable $ 223,452 $ 78 $ 84,526 $ 1,578,855
Retentions payable 9,481 – – 21,255
Accrued liabilities – 3,261 – 28,630
Deposits payable – – – 46,683
Due to other funds – – 197,856 466,372
Total liabilities 232,933 3,339 282,382 2,141,795
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues – – 249,286 249,286
Total deferred inflows of resources – – 249,286 249,286
FUND BALANCES (DEFICITS)
Nonspendable – – – 251
Restricted 1,286,148 301,744 – 31,854,090
Unassigned – – (163,554) (221,866)
Total fund balances (deficits) 1,286,148 301,744 (163,554) 31,632,475
Total liabilities, deferred inflows of resources,
and fund balances (deficits)$ 1,519,081 $ 305,083 $ 368,114 $ 34,023,556
CITY OF ROSEMEAD
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
139
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Special Revenue Funds
SLFRF State Gas Tax
Local
Transportation
and Sidewalk
Grant Proposition A
REVENUES
Taxes $ – $ – $ – $ –
Intergovernmental 480,414 1,419,746 50,028 1,536,270
Charges for services – 8,000 – 6,958
Use of money and property – 204,248 14 142,358
Developer contributions – – – –
Miscellaneous – – – –
Total revenues 480,414 1,631,994 50,042 1,685,586
EXPENDITURES
Current:
General government – 6,151 – 4,040
Public safety – 58,606 – –
Community development – – – –
Parks and recreation – – – 57,082
Public works – 1,120,105 – 545,565
Capital outlay – – 50,000 –
Debt service: – – – –
Principal retirement – 20,097 – –
Total expenditures – 1,204,959 50,000 606,687
Excess (deficiency) of revenues
over (under) expenditures 480,414 427,035 42 1,078,899
OTHER FINANCING SOURCES (USES)
Transfers out (480,414) – – –
Total other financing sources (uses) (480,414) – – –
Net change in fund balances – 427,035 42 1,078,899
Fund balances-beginning – 4,138,784 (42) 2,429,402
Change within financial reporting entity — — — —
Fund balances (deficit)-beginning, as restated – 4,138,784 (42) 2,429,402
Fund balances (deficit)-ending $ – $ 4,565,819 $ – $ 3,508,301
CITY OF ROSEMEAD
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
140
Special Revenue Funds
Proposition C Measure R Measure M
Air Quality
Management
District
REVENUES
Taxes $ – $ – $ – $ –
Intergovernmental 1,088,696 816,371 924,921 67,368
Charges for services 10,950 – – –
Use of money and property 157,062 149,791 190,650 22,473
Developer contributions – – – –
Miscellaneous – – – –
Total revenues 1,256,708 966,162 1,115,571 89,841
EXPENDITURES
Current:
General government 3,972 4,035 – –
Public safety 40,168 – – –
Community development – – – –
Parks and recreation – – – –
Public works 1,001,092 222,343 55,140 4,051
Capital outlay – 220,049 590,903 55,308
Debt service: – – – –
Principal retirement – – – 33,448
Total expenditures 1,045,232 446,427 646,043 92,807
Excess (deficiency) of revenues
over (under) expenditures 211,476 519,735 469,528 (2,966)
OTHER FINANCING SOURCES (USES)
Transfers out – – – –
Total other financing sources (uses) – – – –
Net change in fund balances 211,476 519,735 469,528 (2,966)
Fund balances-beginning 3,317,574 2,794,820 3,761,687 494,278
Change within financial reporting entity — — — —
Fund balances (deficit)-beginning 3,317,574 2,794,820 3,761,687 494,278
Fund balances (deficit)-ending $ 3,529,050 $ 3,314,555 $ 4,231,215 $ 491,312
CITY OF ROSEMEAD
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances(Continued)
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
141
Special Revenue Funds
Street Lighting
Development
Impact Fee
Traffic
Development
Impact Fee
Public Safety
Development
Impact Fee
General Govt
REVENUES
Taxes $ 236,820 $ – $ – $ –
Intergovernmental 1,323,863 – – –
Charges for services – – – –
Use of money and property 160,390 10,303 1,394 9,678
Developer contributions – 66,459 10,601 74,011
Miscellaneous – – – –
Total revenues 1,721,073 76,762 11,995 83,689
EXPENDITURES
Current:
General government – – – –
Public safety – – 820 –
Community development – – – –
Parks and recreation – – – –
Public works 1,627,030 – – 18,566
Capital outlay 71,633 – 993 –
Debt service: – – – –
Principal retirement – – – –
Total expenditures 1,698,663 – 1,813 18,566
Excess (deficiency) of revenues
over (under) expenditures 22,410 76,762 10,182 65,123
OTHER FINANCING SOURCES (USES)
Transfers out – – – –
Total other financing sources (uses) – – – –
Net change in fund balances 22,410 76,762 10,182 65,123
Fund balances-beginning 3,499,654 185,610 24,759 174,245
Change within financial reporting entity — — — —
Fund balances (deficit)-beginning, as restated 3,499,654 185,610 24,759 174,245
Fund balances (deficit)-ending $ 3,522,064 $ 262,372 $ 34,941 $ 239,368
CITY OF ROSEMEAD
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances(Continued)
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
142
Special Revenue Funds
Formerly
Nonmajor
Fund
Development
Impact Fee
Parks
Community
Development
Block Grant HOME Fund
HDC Senior
Housing
Road
Maintenance
and
Rehabilitation
Account
REVENUES
Taxes $ – $ – $ – $ – $ –
Intergovernmental – 537,182 – 761,871 1,394,173
Charges for services – 6,337 – 487,378 –
Use of money and property 35,520 – – 17,809 194,013
Developer contributions 315,492 – – – –
Miscellaneous – – – 7,167 –
Total revenues 351,012 543,519 – 1,274,225 1,588,186
EXPENDITURES
Current:
General government – 2,207 – – –
Public safety – – – – –
Community development – 516,756 – 1,327,610 –
Parks and recreation – 24,556 – – –
Public works – – – – 57,685
Capital outlay – – – 27,729 423
Debt service: – – – – –
Principal retirement – – – – –
Total expenditures – 543,519 – 1,355,339 58,108
Excess (deficiency) of revenues
over (under) expenditures 351,012 – – (81,114) 1,530,078
OTHER FINANCING SOURCES (USES)
Transfers out – – – – –
Total other financing sources (uses) – – – – –
Net change in fund balances 351,012 – – (81,114) 1,530,078
Fund balances-beginning 593,672 (58,312) 4,179,961 459,633 3,714,171
Change within financial reporting entity — — (4,179,961) — —
Fund balances (deficit)-beginning, as
restated 593,672 (58,312) – 459,633 3,714,171
Fund balances (deficit)-ending $ 944,684 $ (58,312) $ – $ 378,519 $ 5,244,249
CITY OF ROSEMEAD
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances(Continued)
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
143
Special Revenue Funds
Capital Project
Fund
Clean Water
Fund SB1383
Measure R
Capital Projects
Total
Nonmajor
Funds
REVENUES
Taxes $ – $ – $ – 236,820
Intergovernmental 571,376 265,000 429,543 11,666,822
Charges for services – – – 519,623
Use of money and property 65,238 19,705 – 1,380,646
Developer contributions – – – 466,563
Miscellaneous – – – 7,167
Total revenues 636,614 284,705 429,543 14,277,641
EXPENDITURES
Current:
General government – – – 20,405
Public safety – – – 99,594
Community development – – – 1,844,366
Parks and recreation – – – 81,638
Public works 316,606 195,830 – 5,164,013
Capital outlay 194,137 – 354,898 1,566,073
Debt service: – – –
Principal retirement – – – 53,545
Total expenditures 510,743 195,830 354,898 8,829,634
Excess (deficiency) of revenues
over (under) expenditures 125,871 88,875 74,645 5,448,007
OTHER FINANCING SOURCES (USES)
Transfers out – – – (480,414)
Total other financing sources (uses) – – – (480,414)
Net change in fund balances 125,871 88,875 74,645 4,967,593
Fund balances-beginning 1,160,277 212,869 (238,199) 30,844,843
Change within financial reporting entity — — — (4,179,961)
Fund balances (deficit)-beginning, as restated 1,160,277 212,869 (238,199) 26,664,882
Fund balances (deficit)-ending $ 1,286,148 $ 301,744 $ (163,554) 31,632,475
CITY OF ROSEMEAD
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances(Continued)
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
144
THIS PAGE INTENTIONALLY LEFT BLANK
145
Budgetary Comparison Schedules
146
THIS PAGE INTENTIONALLY LEFT BLANK
147
SLFRF
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 410,000 $ 410,000 $ 480,414 $ 70,414
Total revenues 410,000 410,000 480,414 70,414
EXPENDITURES
Capital outlay 410,000 – – –
Total expenditures 410,000 – – –
Excess (deficiency) of revenues
over (under) expenditures – 410,000 480,414 70,414
OTHER FINANCING SOURCES (USES)
Transfers out – (480,414) (480,414) –
Total other financing sources (uses) – (480,414) (480,414) –
Net change in fund balance $ – $ (70,414) – $ 70,414
Fund balance-beginning –
Fund balance-ending $ –
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
SLFRF
For the Year Ended June 30, 2025
148
State Gas Tax
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 1,443,100 $ 1,443,100 $ 1,419,746 $ (23,354)
Charges for services 8,000 8,000 8,000 –
Use of money and property 84,000 84,000 204,248 120,248
Total revenues 1,535,100 1,535,100 1,631,994 96,894
EXPENDITURES
Current:
General government 7,100 7,100 6,151 949
Public safety 65,400 65,400 58,606 6,794
Public works 1,598,200 1,598,200 1,120,105 478,095
Capital outlay 110,000 1,482,500 – 1,482,500
Debt service:
Principal retirement 22,000 22,000 20,097 1,903
Total expenditures 1,802,700 3,175,200 1,204,959 1,970,241
Net change in fund balance $ (267,600) $ (1,640,100) 427,035 $ 2,067,135
Fund balance-beginning 4,138,784
Fund balance-ending $ 4,565,819
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
State Gas Tax
For the Year Ended June 30, 2025
149
Local Transportation and Sidewalk Grant
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 50,000 $ 50,000 $ 50,028 $ 28
Use of money and property – – 14 14
Total revenues 50,000 50,000 50,042 42
EXPENDITURES
Current:
Public works – 50,000 – 50,000
Capital outlay – – 50,000 (50,000)
Total expenditures – 50,000 50,000 –
Net change in fund balance $ 50,000 $ – 42 $ 42
Fund balance-beginning (42)
Fund balance-ending $ –
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Local Transportation and Sidewalk Grant
For the Year Ended June 30, 2025
150
Proposition A
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 1,474,600 $ 1,474,600 $ 1,536,270 $ 61,670
Charges for services 16,900 16,900 6,958 (9,942)
Use of money and property 44,900 44,900 142,358 97,458
Total revenues 1,536,400 1,536,400 1,685,586 149,186
EXPENDITURES
Current:
General government 4,100 4,100 4,040 60
Parks and recreation 72,000 72,000 57,082 14,918
Public works 575,700 575,700 545,565 30,135
Total expenditures 651,800 651,800 606,687 45,113
Net change in fund balance $ 884,600 $ 884,600 1,078,899 $ 194,299
Fund balance-beginning 2,429,402
Fund balance-ending $ 3,508,301
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Proposition A
For the Year Ended June 30, 2025
151
Proposition C
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 1,241,400 $ 1,241,400 $ 1,088,696 $ (152,704)
Charges for services – – 10,950 10,950
Use of money and property 65,200 65,200 157,062 91,862
Total revenues 1,306,600 1,306,600 1,256,708 (49,892)
EXPENDITURES
Current:
General government 4,100 4,100 3,972 128
Public safety 47,700 47,700 40,168 7,532
Public works 1,027,700 1,027,700 1,001,092 26,608
Capital outlay 700,000 2,275,000 – 2,275,000
Total expenditures 1,779,500 3,354,500 1,045,232 2,309,268
Net change in fund balance $ (472,900) $ (2,047,900) 211,476 $ 2,259,376
Fund balance-beginning 3,317,574
Fund balance-ending $ 3,529,050
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Proposition C
For the Year Ended June 30, 2025
152
Measure R
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 930,800 $ 930,800 $ 816,371 $ (114,429)
Use of money and property 52,100 52,100 149,791 97,691
Total revenues 982,900 982,900 966,162 (16,738)
EXPENDITURES
Current:
General government 4,100 4,100 4,035 65
Public works 878,200 628,200 222,343 405,857
Capital outlay 524,200 1,717,268 220,049 1,497,219
Total expenditures 1,406,500 2,349,568 446,427 1,903,141
Net change in fund balance $ (423,600) $ (1,366,668) 519,735 $ 1,886,403
Fund balance-beginning 2,794,820
Fund balance-ending $ 3,314,555
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Measure R
For the Year Ended June 30, 2025
153
Measure M
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 1,052,900 $ 1,052,900 $ 924,921 $ (127,979)
Use of money and property 80,000 80,000 190,650 110,650
Total revenues 1,132,900 1,132,900 1,115,571 (17,329)
EXPENDITURES
Current:
Public works 584,600 654,600 55,140 599,460
Capital outlay – 1,544,580 590,903 953,677
Total expenditures 584,600 2,199,180 646,043 1,553,137
Net change in fund balance $ 548,300 $ (1,066,280) 469,528 $ 1,535,808
Fund balance-beginning 3,761,687
Fund balance-ending $ 4,231,215
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Measure M
For the Year Ended June 30, 2025
154
Air Quality Management District
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 69,600 $ 69,600 $ 67,368 $ (2,232)
Use of money and property 9,500 9,500 22,473 12,973
Total revenues 79,100 79,100 89,841 10,741
EXPENDITURES
Current:
Public works 6,000 6,000 4,051 1,949
Capital outlay 300,000 300,000 55,308 244,692
Debt service:
Principal retirement 35,000 35,000 33,448 1,552
Total expenditures 341,000 341,000 92,807 248,193
Net change in fund balance $ (261,900) $ (261,900) (2,966) $ 258,934
Fund balance-beginning 494,278
Fund balance-ending $ 491,312
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Air Quality Management District
For the Year Ended June 30, 2025
155
Street Lighting
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Property taxes $ 179,700 $ 179,700 $ 236,820 $ 57,120
Intergovernmental 1,312,800 1,312,800 1,323,863 11,063
Use of money and property 73,600 73,600 160,390 86,790
Total revenues 1,566,100 1,566,100 1,721,073 154,973
EXPENDITURES
Current:
Public works 1,863,400 1,963,400 1,627,030 336,370
Capital outlay 2,008,200 4,296,711 71,633 4,225,078
Total expenditures 3,871,600 6,260,111 1,698,663 4,561,448
Net change in fund balance $ (2,305,500) $ (4,694,011) 22,410 $ 4,716,421
Fund balance-beginning 3,499,654
Fund balance-ending $ 3,522,064
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Street Lighting
For the Year Ended June 30, 2025
156
Development Impact Fee Traffic
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property $ 3,300 $ 3,300 $ 10,303 $ 7,003
Developer contributions 41,400 41,400 66,459 25,059
Total revenues 44,700 44,700 76,762 32,062
EXPENDITURES
Capital outlay – 50,000 – 50,000
Total expenditures – 50,000 – 50,000
Net change in fund balance $ 44,700 $ (5,300) 76,762 $ 82,062
Fund balance-beginning 185,610
Fund balance-ending $ 262,372
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Development Impact Fee Traffic
For the Year Ended June 30, 2025
157
Development Impact Fee Public Safety
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property $ 500 $ 500 $ 1,394 $ 894
Developer contributions 6,000 6,000 10,601 4,601
Total revenues 6,500 6,500 11,995 5,495
EXPENDITURES
Current:
Public safety – – 820 (820)
Capital outlay – 10,000 993 9,007
Total expenditures – 10,000 1,813 8,187
Net change in fund balance $ 6,500 $ (3,500) 10,182 $ 13,682
Fund balance-beginning 24,759
Fund balance-ending $ 34,941
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Development Impact Fee Public Safety
For the Year Ended June 30, 2025
158
Development Impact Fee General Govt
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property $ 3,500 $ 3,500 $ 9,678 $ 6,178
Developer contributions 42,100 42,100 74,011 31,911
Total revenues 45,600 45,600 83,689 38,089
EXPENDITURES
Current:
Public works – – 18,566 (18,566)
Capital outlay – 71,740 – 71,740
Total expenditures – 71,740 18,566 53,174
Net change in fund balance $ 45,600 $ (26,140) 65,123 $ 91,263
Fund balance-beginning 174,245
Fund balance-ending $ 239,368
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Development Impact Fee General Govt
For the Year Ended June 30, 2025
159
Development Impact Fee Parks
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property $ 9,800 $ 9,800 $ 35,520 $ 25,720
Developer contributions 179,400 179,400 315,492 136,092
Total revenues 189,200 189,200 351,012 161,812
EXPENDITURES
Current:
Capital outlay – 75,000 – 75,000
Total expenditures – 75,000 – 75,000
Net change in fund balance $ 189,200 $ 114,200 351,012 $ 236,812
Fund balance-beginning 593,672
Fund balance-ending $ 944,684
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Development Impact Fee Parks
For the Year Ended June 30, 2025
160
Community Development Block Grant
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 761,700 $ 761,700 $ 537,182 $ (224,518)
Charges for services – – 6,337 6,337
Total revenues 761,700 761,700 543,519 (218,181)
EXPENDITURES
Current:
General government 10,300 10,300 2,207 8,093
Community development 647,100 647,100 516,756 130,344
Parks and recreation 104,300 104,300 24,556 79,744
Total expenditures 761,700 761,700 543,519 218,181
Net change in fund balance $ – $ – – $ –
Fund balance-beginning (58,312)
Fund balance-ending $ (58,312)
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Community Development Block Grant
For the Year Ended June 30, 2025
161
HDC Senior Housing
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 502,342 $ 502,342 $ 761,871 $ 259,529
Charges for services 489,600 489,600 487,378 (2,222)
Use of money and property 4,200 4,200 17,809 13,609
Miscellaneous 4,600 4,600 7,167 2,567
Total revenues 1,000,742 1,000,742 1,274,225 273,483
EXPENDITURES
Current:
Community development 939,520 939,520 1,327,610 (388,090)
Capital outlay — 400,000 27,729 372,271
Total expenditures 939,520 1,339,520 1,355,339 (15,819)
Net change in fund balance $ 61,222 $ (338,778) (81,114) $ 257,664
Fund balance-beginning 459,633
Fund balance-ending $ 378,519
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
HDC Senior Housing
For the Year Ended June 30, 2025
162
Road Maintenance and Rehabilitation Account
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 1,280,700 $ 1,280,700 $ 1,394,173 $ 113,473
Use of money and property 90,400 90,400 194,013 103,613
Total revenues 1,371,100 1,371,100 1,588,186 217,086
EXPENDITURES
Current:
Public works 1,451,300 51,300 57,685 (6,385)
Capital outlay – 2,286,800 423 2,286,377
Total expenditures 1,451,300 2,338,100 58,108 2,279,992
Net change in fund balance $ (80,200) $ (967,000) 1,530,078 $ 2,497,078
Fund balance-beginning 3,714,171
Fund balance-ending $ 5,244,249
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Road Maintenance and Rehabilitation Account
For the Year Ended June 30, 2025
163
Clean Water Fund
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 589,200 $ 589,200 $ 571,376 $ (17,824)
Use of money and property 15,500 15,500 65,238 49,738
Total revenues 604,700 604,700 636,614 31,914
EXPENDITURES
Current:
General government 2,500 2,500 – 2,500
Public works 320,000 320,000 316,606 3,394
Capital outlay – 202,385 194,137 8,248
Total expenditures 322,500 524,885 510,743 14,142
Net change in fund balance $ 282,200 $ 79,815 125,871 $ 46,056
Fund balance-beginning 1,160,277
Fund balance-ending $ 1,286,148
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Clean Water Fund
For the Year Ended June 30, 2025
164
SB1383
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 265,000 $ 265,000 $ 265,000 $ –
Use of money and property – – 19,705 19,705
Total revenues 265,000 265,000 284,705 19,705
EXPENDITURES
Current:
Public works 235,200 235,200 195,830 39,370
Total expenditures 235,200 235,200 195,830 39,370
Net change in fund balance $ 29,800 $ 29,800 88,875 $ 59,075
Fund balance-beginning 212,869
Fund balance-ending $ 301,744
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Continued)
SB1383
For the Year Ended June 30, 2025
165
Measure R Capital Projects
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ — $ — $ 429,543 $ 429,543
Total revenues — — 429,543 429,543
EXPENDITURES
Current:
Capital outlay — 26,559,302 354,898 26,204,404
Total expenditures — 26,559,302 354,898 26,204,404
Net change in fund balance $ — $ (26,559,302) 74,645 $ 26,633,947
Fund balance-beginning (238,199)
Fund balance-ending $ (163,554)
CITY OF ROSEMEAD
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Continued)
Measure R Capital Projects
For the Year Ended June 30, 2025
166
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167
Internal Service Funds
168
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169
Combining Statement of Net Position - Internal Service Funds
Governmental Activities - Internal Service Funds
Equipment
Replacement
Technology
Replacement
Public
Facilities
Total Internal
Service
Funds
ASSETS
Current assets:
Cash and investments $ 2,145,529 $ 1,440,542 $ 9,753,695 $ 13,339,766
Receivables (net of uncollectibles):
Accounts — 5,000 — 5,000
Accrued interest 19,402 10,622 85,300 115,324
Total current assets 2,164,931 1,456,164 9,838,995 13,460,090
Noncurrent:
Capital assets, net 80,778 144,805 648,681 874,264
Total noncurrent assets 80,778 144,805 648,681 874,264
Total assets 2,245,709 1,600,969 10,487,676 14,334,354
LIABILITIES
Current liabilities:
Accounts payable — — 268,065 268,065
Accrued interest — 4,732 — 4,732
Subscription Payable - Current — 14,497 — 14,497
Total current liabilities — 19,229 268,065 287,294
Noncurrent liabilities:
Subscription payable — 28,650 — 28,650
Total noncurrent liabilities — 28,650 — 28,650
Total liabilities — 47,879 268,065 315,944
NET POSITION
Net investment in capital assets 80,778 101,658 622,277 804,713
Unrestricted 2,164,931 1,451,432 9,597,334 13,213,697
Total net position $ 2,245,709 $ 1,553,090 $ 10,219,611 $ 14,018,410
CITY OF ROSEMEAD
Combining Statement of Net Position
Internal Service Funds
June 30, 2025
170
Combining Statement of Revenues, Expenses and Changes in Net Position - Internal Service Funds
Equipment
Replacement
Technology
Replacement
Public
Facilities
Total Internal
Service
Funds
OPERATING REVENUES
Miscellaneous $ — $ 22,933 $ — $ 22,933
Total operating revenues — 22,933 — 22,933
OPERATING EXPENSES
Contractual services — 17,800 68,518 86,318
Depreciation and amortization 17,471 60,147 — 77,618
Total operating expenses 17,471 77,947 68,518 163,936
Operating loss (17,471) (55,014) (68,518) (141,003)
NONOPERATING REVENUES (EXPENSES)
Interest and fiscal charges — (20,844) — (20,844)
Use of money and property 100,800 55,424 451,357 607,581
Total nonoperating revenues (expenses) 100,800 34,580 451,357 586,737
Income (loss) before transfers 83,329 (20,434) 382,839 445,734
Transfers in — 400,000 500,000 900,000
Change in net position 83,329 379,566 882,839 1,345,734
Net position-beginning 2,162,380 1,173,524 9,336,772 12,672,676
Net position-ending $ 2,245,709 $ 1,553,090 $ 10,219,611 $ 14,018,410
CITY OF ROSEMEAD
Combining Statement of Revenues, Expenses and Changes in Net Position
Internal Service Funds
For the Year Ended June 30, 2025
171
Combining Statement of Cash Flows - Internal Service Funds
Equipment
Replacement
Technology
Replacement
Public
Facilities Totals
CASH FLOWS FROM OPERATING ACTIVITIES
Payments to suppliers and service providers — (17,800) — (17,800)
Other receipts (payments) — 17,933 165,981 183,914
Net cash provided by (used for)
operating activities — 133 165,981 166,114
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfer from other funds — 400,000 500,000 900,000
Net cash provided by (used for)
noncapital financing activities — 400,000 500,000 900,000
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition and construction of capital assets (98,249) — (619,715) (717,964)
Principal paid on capital debt — (109,623) — (109,623)
Interest paid on capital debt — (16,112) — (16,112)
Net cash provided by (used for)
capital and related financing activities (98,249) (125,735) (619,715) (843,699)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments 96,633 50,040 433,347 580,020
Net cash provided by (used for)
investing activities 96,633 50,040 433,347 580,020
Net increase (decrease) in
cash and cash equivalents (1,616) 324,438 479,613 802,435
Cash and cash equivalents-beginning 2,147,145 1,116,104 9,274,082 12,537,331
Cash and cash equivalents-ending $ 2,145,529 $ 1,440,542 $ 9,753,695 $ 13,339,766
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH PROVIDED BY (USED FOR)
OPERATING ACTIVITIES
Operating income (loss)$ (17,471) $ (55,014) $ (68,518) $ (141,003)
Adjustments to reconcile operating income (loss) to
net cash provided by (used for) operating activities:
Depreciation/amortization expense 17,471 60,147 — 77,618
(Increase) decrease in accounts receivable — (5,000) — (5,000)
Increase (decrease) in accounts payable — — 234,499 234,499
Total adjustments 17,471 55,147 234,499 307,117
Net cash provided by (used for)
operating activities $ — $ 133 $ 165,981 $ 166,114
SCHEDULE OF NON-CASH NONCAPITAL, CAPITAL,
AND INVESTING ACTIVITIES
Subscription proceeds $ — $ (152,770) $ — $ (152,770)
Purchase of capital assets on account $ — $ — $ (26,404) $ (26,404)
ents
CITY OF ROSEMEAD
Combining Statement of Cash Flows
Internal Service Funds
For the Year Ended June 30, 2025
172
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173
STATISTICAL SECTION
Financial Trends
Revenue Capacity
Debt Capacity
Demographic and Economic Information
Operating Information
174
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175
DESCRIPTION OF STATISTICAL SECTION CONTENTS
June 30, 2025
This part of the City’s annual comprehensive financial report presents detailed information as a context for
understanding what the information in the financial statements and the note disclosures say about the
government’s overall financial health.
Contents:Pages:
Financial Trends: These schedules contain trend information to help the reader understand how the City’s financial
performance and well being have changed over time . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .178 -187
1 Net Position by Component
2 Changes in Net Position
3 Fund Balances of Governmental Funds
4 Changes in Fund Balances of Governmental Funds
Revenue Capacity: these schedules contain information to help the reader assess the City’s most significant local
revenue source, the property tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .189 -193
5 Assessed Value and Estimated Actual Value of Taxable Property
6 Direct and Overlapping Property Tax Rates
7 Principal Property Taxpayers
8 Property Tax Levies and Collections
Debt Capacity: these schedules present information to help the reader assess the affordability of the City’s current levels
of outstanding debt and the City’s ability to issue additional debt in the future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .195 -200
9 Direct and Overlapping Governmental Activities Debt
10 Ratios of Outstanding Debt by Type
11 Legal Debt Margin
12 Pledged Revenue Coverage
Demographic and Economic Information: these schedules offer demographic and economic indicators to help the reader
understand the environment within which the City’s financial activities take place . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .202 -206
13 Demographic and Economic Statistics
14 Principal Employers
15 Top 25 Sales Tax Producers
16 Full-Time and Part-Time Positions by Function
Operating Information: these schedules contain service and infrastructure data to help the reader understand how the
information in the City’s financial report relates to the services the City provides and the activities it performs . . . . . . . . . . .208 -210
17 Operating Indicators by Function
18 Capital Asset Statistics
Sources: Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive
Financial Reports for the relevant year.
CITY OF ROSEMEAD
176
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177
Financial Trends
178
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Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
179
Financial Trends
Net Position by Component
Last Ten Fiscal Years
(accrual basis accounting)Schedule 1
Schedule 1 - Net Position by Component
Fiscal Year
2025 2024 2023 2022 2021
Governmental Activities
Net investment in capital assets $ 55,862,588 $ 53,652,795 $ 49,863,061 $ 47,464,095 $ 47,444,803
Restricted 37,347,973 31,657,170 29,695,512 24,948,999 21,872,184
Unrestricted (deficit) 40,597,645 39,291,717 34,915,640 22,020,342 18,627,063
Total governmental activities net position $ 133,808,206 $ 124,601,682 $ 114,474,213 $ 94,433,436 $ 87,944,050
Note: The City implemented GASB 75 in the FY 2018. Prior Year information was not restated to reflect the impact of the
implementation.
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
180
Financial Trends
Net Position by Component (Continued)
Last Ten Fiscal Years
(accrual basis accounting)Schedule 1
Fiscal Year
2020 2019 2018 2017 2016
Governmental Activities
Net investment in capital assets $ 48,825,863 $ 50,882,552 $ 53,587,243 $ 52,806,193 $ 51,542,030
Restricted 13,681,082 9,730,202 3,554,634 4,387,055 4,005,847
Unrestricted (deficit) 17,754,529 17,483,422 17,211,587 15,690,721 13,108,874
Total governmental activities net position $ 80,261,474 $ 78,096,176 $ 74,353,464 $ 72,883,969 $ 68,656,751
Note: The City implemented GASB 75 in the FY 2018. Prior Year information was not restated to reflect the impact of the
implementation.
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
181
Financial Trends
Changes in Net Position
Last Ten Fiscal Years
(accrual basis accounting)Schedule 2
Schedule 2 - Changes in Net Position
Fiscal Year
2025 2024 2023 2022 2021
Expenses:
Governmental activities
General Government $ 6,178,285 $ 5,613,800 $ 4,916,281 $ 5,285,495 $ 4,659,583
Public Safety 12,896,287 12,935,463 10,824,136 10,975,401 10,679,425
Public Works 12,817,124 12,197,341 10,471,184 9,374,004 9,372,263
Parks & Recreation 4,965,700 4,314,376 3,679,872 3,139,695 3,411,076
Community Development 6,467,687 5,000,935 3,444,775 2,560,821 1,916,949
Interest on long -term debt 42,759 3,735 32,275 46,540 —
Total Governmental activities expenses $ 43,367,842 $ 40,065,650 $ 33,368,523 $ 31,381,956 $ 30,039,296
Program Revenues:
Governmental activities
Charges for Services
General Government $ 408,789 $350,078 $360,764 $381,537 $357,513
Public Safety 804,852 748,860 726,754 693,947 643,020
Public Works 3,652,826 3,492,116 3,695,897 3,421,588 2,781,446
Parks & Recreation 1,128,747 982,308 924,014 503,128 163,168
Community Development 5,889,634 3,336,464 4,695,490 3,294,809 2,634,298
Operating grants and contributions 10,771,676 11,915,536 15,398,364 5,550,126 6,590,283
Capital grants and contributions 2,392,150 2,133,127 1,996,455 1,877,695 1,780,851
Total governmental activities program revenues 25,048,674 22,958,489 27,797,738 15,722,830 14,950,579
Net (expense)/revenue
Total Primary government net expense $ (18,319,168) $ (17,107,161) $ (5,570,785) $ (15,659,126) $ (15,088,717)
General Revenues and other changes in net position
Governmental activities
Taxes
Property taxes $ 12,960,873 $ 12,233,339 $ 11,750,041 $ 10,881,809 $ 10,740,563
Sales taxes 7,106,216 6,999,889 7,369,300 6,889,892 5,534,244
Transient Occupancy 2,320,163 2,238,353 2,312,408 2,097,700 1,405,397
Other taxes 2,037,875 1,953,619 1,802,904 1,594,759 1,378,550
Investment income 4,169,663 3,793,154 2,110,332 596,871 287,628
Other general revenues 87,443 16,276 266,577 99,978 40,151
Total governmental activities 28,682,233 27,234,630 25,611,562 22,161,009 19,386,533
Change in Net Position
Total primary government $ 10,363,065 $ 10,127,469 $ 20,040,777 $ 6,501,884 $ 4,297,816
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
182
Financial Trends
Changes in Net Position (Continued)
Last Ten Fiscal Years
(accrual basis accounting)Schedule 2
Fiscal Year
2020 2019 2018 2017 2016
Expenses:
Governmental activities
General Government $ 4,003,674 $ 4,205,482 $ 4,554,063 $ 3,705,685 $ 3,218,363
Public Safety 9,744,134 9,125,853 9,499,683 8,935,164 8,381,588
Public Works 9,946,662 6,353,025 9,554,073 7,323,865 8,738,495
Parks & Recreation 3,472,477 2,376,713 3,409,699 3,161,310 3,246,081
Community Development 2,920,016 7,662,344 2,746,482 2,153,986 2,073,145
Interest on long -term debt — — 787
Total Governmental activities expenses $ 30,086,963 $ 29,723,417 $ 29,764,000 $ 25,280,010 $ 25,658,459
Program Revenues:
Governmental activities
Charges for Services
General Government $ 274,450 $ 422,329 $ 328,824 $ 211,217 $ 168,194
Public Safety 686,871 701,520 685,191 560,787 590,533
Public Works 2,746,472 2,987,193 2,693,222 648,141 617,375
Parks & Recreation 624,313 958,176 828,038 788,931 741,171
Community Development 2,459,528 2,827,811 3,328,451 2,437,458 2,282,580
Operating grants and contributions 4,536,459 4,122,174 4,821,892 5,635,721 5,848,129
Capital grants and contributions 1,217,584 1,217,759 1,172,424 1,019,216 973,119
Total governmental activities program revenues 12,545,677 13,236,962 13,858,042 11,301,471 11,221,101
Net (expense)/revenue
Total Primary government net expense $ (17,541,286) $ (16,486,455) $ (15,905,958) $ (13,978,539) $ (14,437,358)
General Revenues and other changes in net position
Governmental activities
Taxes
Property taxes $ 9,942,183 $ 9,566,800 $ 9,128,934 $ 8,643,019 $ 9,158,499
Sales taxes 5,430,222 5,735,491 5,929,492 5,366,975 4,124,745
Transient Occupancy 1,785,219 2,314,723 2,326,863 2,213,286 1,998,954
Other taxes 1,346,327 1,329,822 1,313,699 1,224,230 1,209,249
Investment income 945,319 1,158,407 210,288 20,526 348,651
Other general revenues 257,314 123,924 647,888 737,721 945,372
Total governmental activities 19,706,584 20,229,167 19,557,164 18,205,757 17,785,470
Change in Net Position
Total primary government $ 2,165,299 $ 3,742,712 $ 3,651,206 $ 4,227,218 $ 3,348,112
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
183
Financial Trends
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis accounting)Schedule 3
Schedule 3 - Fund Balances of Governmental Funds
Fiscal Year
2025 2024 2023 2022 2021
General Fund
Nonspendable $ 388,807 $ 340,001 $ 351,821 $ 411,571 $ 118,358
Restricted — — — — —
Committed 12,661,499 12,647,428 15,000,933 10,169,989 7,985,332
Assigned 136,038 132,948 132,948 132,367 130,267
Unassigned (deficit) 23,841,738 21,345,526 16,944,731 17,842,339 17,353,655
Total general fund $ 37,028,082 $ 34,465,903 $ 32,430,433 $ 28,556,266 $ 25,587,612
All other governmental funds
Nonspendable $ 251 $ 24,150 $ — $ — $ —
Restricted 34,760,726 31,117,246 29,369,133 24,948,999 21,872,184
Committed — — — — —
Assigned — — — — —
Unassigned (deficit) (329,630) (296,553) (1,511,092) (110,157) (89,573)
Total all other governmental funds $ 34,431,347 $ 30,844,843 $ 27,858,041 $ 24,838,842 $ 21,782,611
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
184
Financial Trends
Fund Balances of Governmental Funds (Continued)
Last Ten Fiscal Years
(modified accrual basis accounting)Schedule 3
Fiscal Year
2020 2019 2018 2017 2016
General Fund
Nonspendable $ 510,371 $ 870,619 $ 853,920 $ 765,218 $ 187,247
Restricted — — — — —
Committed 8,896,317 7,667,401 8,760,289 6,935,525 6,682,495
Assigned 121,867 121,867 79,798 63,298 83,513
Unassigned (deficit) 14,679,926 14,635,070 10,790,274 11,270,958 11,514,894
Total general fund $ 24,208,481 $ 23,294,957 $ 20,484,281 $ 19,034,999 $ 18,468,149
All other governmental funds
Nonspendable $ — $ — $ — $ — $ —
Restricted 13,681,082 8,797,389 3,554,634 4,376,257 4,005,847
Committed — 932,813 1,912,732 — —
Assigned — — — — —
Unassigned (deficit) (269,560) (23,792) (31,024) (639,510) (832,005)
Total all other governmental funds $ 13,411,522 $ 9,706,410 $ 5,436,342 $ 3,736,747 $ 3,173,842
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
185
Financial Trends
Changes in Fund Balances of Government Funds
Last Ten Fiscal Years
(modified accrual basis accounting)Schedule 4
Schedule 4 - Changes in Fund Balances of Government Funds
Fiscal Year
2025 2024 2023 2022 2021
Revenues
Taxes $ 24,425,127 $ 23,425,200 $ 23,234,653 $ 21,470,510 $ 19,082,069
Intergovernmental 16,190,078 17,883,375 19,318,247 10,582,249 11,041,044
Licenses and permits 4,131,334 3,594,146 4,514,893 3,332,016 2,492,893
Charges for services 1,867,553 1,745,191 1,625,895 1,247,997 489,269
Fines, forfeitures, and penalties 630,021 604,725 594,978 577,616 598,032
Development participation 466,563 319,277 350,618 114,662 78,558
Investment income 3,562,082 3,155,753 1,883,246 369,785 778,295
Other 64,510 37,550 266,577 84,050 63,684
Total Revenues 51,337,268 50,765,217 51,789,107 37,778,885 34,623,844
Expenditures
General government 6,047,605 5,322,096 5,067,987 5,477,022 4,587,158
Public safety 12,697,605 12,723,236 10,922,252 10,978,236 10,574,620
Public works 9,808,235 9,411,015 7,586,361 7,512,480 7,098,823
Community development 6,447,548 4,683,247 3,725,789 3,147,029 3,349,209
Parks and recreation 4,678,849 3,981,220 3,356,826 2,427,999 1,706,997
Capital Outlay 4,464,220 6,510,995 5,657,289 2,389,245 941,577
Debt Service
Principal 145,300 139,415 76,457 — —
Interest and fiscal charges 21,915 3,735 2,780 — —
Total Expenditures 44,311,277 42,774,959 36,395,741 31,932,011 28,258,384
Excess of revenues over/(under)
expenditures 7,025,991 7,990,258 15,393,366 5,846,874 6,365,460
Other financing sources (uses)
Transfer in 480,414 1,800,000 7,398,300 — —
Transfer out (1,380,414) (4,850,000) (15,898,300) 178,011 —
Lease arrangements entered into 104,706 — — — — —
Total Other Financing Sources (795,294) (3,050,000) (8,500,000) 178,011 —
Net Change in fund balances $ 6,230,697 $ 4,940,258 $ 6,893,366 $ 6,024,885 $ 6,365,460
Debt service as a percentage of non-
capital expenditures 0.4%0.4%0.2%—%—%
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
186
Financial Trends
Changes in Fund Balances of Government Funds (Continued)
Last Ten Fiscal Years
(modified accrual basis accounting)Schedule 4
Fiscal Year
2020 2019 2018 2017 2016
Revenues
Taxes $ 18,503,951 $ 18,946,836 $ 18,698,988 $ 17,447,510 $ 16,491,447
Intergovernmental 8,179,055 8,588,211 8,002,636 6,726,279 7,734,995
Licenses and permits 2,115,419 2,636,026 3,128,000 2,754,881 2,520,937
Charges for services 1,204,638 1,653,095 1,572,266 1,012,557 1,191,275
Fines, forfeitures, and penalties 612,080 622,221 633,711 607,754 597,373
Development participation 150,728 117,115 28,591 — —
Investment income 905,039 1,158,407 210,288 666,968 1,002,835
Other 271,515 250,364 566,338 231,545 71,152
Total Revenues 31,942,425 33,972,275 32,840,818 29,447,494 29,610,014
Expenditures
General government 3,768,562 4,077,516 4,546,789 4,280,825 3,664,633
Public safety 9,577,867 9,089,645 9,318,858 9,060,840 8,452,932
Public works 7,032,609 7,247,391 6,554,648 6,499,220 6,346,179
Community development 3,352,332 3,637,692 3,279,088 3,385,455 3,323,933
Parks and recreation 2,703,857 2,343,452 2,386,463 2,300,906 2,123,274
Capital Outlay 888,559 495,838 3,606,095 2,790,493 2,302,974
Debt Service
Principal — — — — —
Interest and fiscal charges — — — — —
Total Expenditures 27,323,786 26,891,534 29,691,941 28,317,739 26,213,925
Excess of revenues over/(under)
expenditures 4,618,639 7,080,741 3,148,877 1,129,755 3,396,089
Other financing sources (uses)
Transfer in — 121,361 2,442,441 1,386,471
Transfer out — — (121,361) (2,442,441) (1,386,471)
Lease arrangements entered into — — — — —
Total Other Financing Sources — — — — —
Net Change in fund balances $ 4,618,639 $ 7,080,741 $ 3,148,877 $ 1,129,755 $ 3,396,089
Debt service as a percentage of non-
capital expenditures —%—%—%—%—%
End Financial Trends
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
187
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188
Revenue Capacity Information
189
Revenue Capacity
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
Schedule 5
Schedule 5 - Assessed Value and Estimated Actual Value of Taxable Property
City
Fiscal Year Secured Unsecured
SBE Non-
Unitary
Taxable Assessed
Value
Total
Direct Tax
Rate
2016 4,012,426,717 62,768,733 1,901,995 4,077,097,445 9.27%
2017 4,202,108,491 63,820,415 2,051,995 4,267,980,901 9.27%
2018 4,375,810,412 60,507,061 2,051,995 4,438,369,468 9.27%
2019 4,591,020,006 63,704,447 2,051,995 4,656,776,448 9.28%
2020 4,809,362,427 71,764,032 2,347,932 4,883,474,391 9.28%
2021 5,038,058,045 72,031,236 2,408,307 5,112,497,588 9.28%
2022 5,162,438,824 71,444,546 2,408,307 5,236,291,677 9.28%
2023 5,435,331,772 74,951,474 2,408,307 5,232,291,677 9.28%
2024 5,738,322,545 82,881,050 2,408,307 5,823,611,902 9.28%
2025 6,032,550,923 85,981,776 2,656,135 6,121,188,834 9.28%
Note:
In 1978 the voters of the State of California passed Proposition 13 which limited 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 re-assessed as a result of
new construction activity or at the time it is sold to a new owner. At that point, the property is reassessed based upon the
added value of the construction or at the purchase price (market value) or economic value of the property sold. The assessed
valuation data shown above represents the only data currently available with respect to the actual market value of taxable
property and is subject to the limitations described above.
Source: Los Angeles County Assessor Combined Tax Rolls and HDL Coren & Cone
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
190
Revenue Capacity
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(Rate per $100 of Taxable Value)Schedule 6
Schedule 6 - Direct and Overlapping Property Tax Rates
Agency 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Basic Levy 1 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
El Monte City School District 0.0913 0.0885 0.0907 0.0799 0.0751 0.1080 0.1458 0.1462 0.1468 0.1464
El Monte Union High School 0.0622 0.0691 0.0675 0.0765 0.0929 0.1097 0.0879 0.0824 0.0847 0.0916
Garvey School District 0.0926 0.0869 0.0857 0.0884 0.0843 0.0862 0.0871 0.0833 0.0607 0.0587
Garvey-Alhambra 0.0525 0.0296 0.0299 0.0299 0.0381 0.0366 0.0454 0.0481 0.0281 0.0291
Los Angeles Community College
District 0.0514 0.0602 0.0249 0.0438 0.0402 0.0272 0.0462 0.0460 0.0360 0.0358
Metropolitan Water District 0.0300 0.0300 0.0300 0.0300 0.0300 0.0300 0.0300 0.0300 0.0230 0.0180
Montebello Unified School District 0.0916 0.1128 0.1277 0.0903 0.0971 0.0931 0.1392 0.1351 0.1471 0.0872
Pasadena Community College
District 0.0243 0.0251 0.0087 0.0090 0.0055 0.0072 0.0077 0.0082 0.0089 0.0087
Rio Hondo Community College
District 0.0233 0.0218 0.0154 0.0153 0.0136 0.0257 0.0255 0.0275 0.0281 0.0271
Rosemead School District 0.0739 0.1008 0.0987 0.1018 0.0746 0.0868 0.0926 0.1198 0.0853 0.1000
San Gabriel Unified School District 0.1020 0.0990 0.1027 0.1019 0.0986 0.0968 0.1056 0.1008 0.1053 0.1068
Total Direct & Overlapping2 Tax
Rates 1.6952 1.7236 1.6817 1.6662 1.6500 1.7073 1.8130 1.8273 1.7539 1.7093
City's Share of 1% Levy Per Prop 13
3 0.0928 0.0939 0.0928 0.0939 0.0939 0.0939 0.0939 0.0939 0.0939 0.0939
Voter Approved City Debt Rate
Redevelopment Rate 4 ——————————
Total Direct Rate 5 0.0928 0.0928 0.0928 0.0928 0.0928 0.0928 0.0928 0.0927 0.0927 0.0927
Notes:
1In 1978, California voters passed Proposition 13 which set the property tax rate at a 1.00% fixed amount. This 1.00% is
shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property
owners are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds.
2Overlapping rates are those of local and county governments that apply to property owners within the City. Not all
overlapping rates apply to all city property owners.
3City's share of 1% Levy is based on the City's share of the general fund tax rate area with the largest net taxable value within
the city. ERAF general fund tax shifts may not be included in tax ratio figures.
4RDA rate is based on the largest RDA tax rate area (TRA) and includes only rate(s) from indebtedness adopted prior to 1989
per California State statute. RDA direct and overlapping rates are applied only to the incremental property values. The
approval of ABX1 26 eliminated Redevelopment from the State of California for the fiscal year 2012-13 and years thereafter.
5Total Direct Rate is the weighted average of all individual direct rates applied by the government prepaing the statistical
section information and excludes revenues derived from aircraft. Beginning in 2013/14 the Total Direct Rate no longer
includes revenue generated from the former redevelopment tax rate areas. Challenges to recognized enforceable obligations
are assumed to have been resolved during 2012/13. For the purposes of this report, residual revenue is assumed to be
distributed to the City in the same proportions as general fund revenue.
Source: Los Angeles County Assessor 2015/16 - 2024/25 Combined Tax Rolls and HDL Coren & Cone
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
191
Revenue Capacity
Principal Property Taxpayers
Current Year and Nine Years Ago
Schedule 7
Schedule 7 - Principal Property Taxpayers
2025 2016
Taxpayer
Taxable
Assessed Value Rank
Percentage
of Total
Assessed
Valuation Assessed Value Rank
Percentage
of Total
Assessed
Valuation
Rosemead Place, LLC $56,840,891 1 0.93 %$48,240,384 1 1.18%
Walmart Real Estate Business Trust 41,326,017 2 0.68 % 35,073,031 2 0.86%
Rosemead Hwang LLC 40,655,988 3 0.66 % 34,504,384 3 0.85%
AFG Investment Fund 5 LLC 30,210,946 4 0.49 % 25,639,791 4 0.63%
Golden State Water Company 28,101,645 5 0.46 % — ——%
West Meadow Health Holdings LLC 24,804,672 6 0.41 % — ——%
Sunshine Inn 23,650,466 7 0.39 %
Metodo Investments LLC 21,626,278 8 0.35 % 19,332,521 5 0.47%
420 Boyd Street LLC 21,352,959 9 0.35 % 18,122,081 6 0.44%
Garvey Garden Plaza LLC 21,229,488 10 0.35 % — ——%
Rosemead Health Holding LLC — — % 16,176,881 7 0.40%
Panda Express Inc — — % 9,714,362 8 0.24%
Macy's California Inc — — % 14,571,528 9 0.36%
Source: Los Angeles County Assessor Combined Tax Rolls and SBE Non Unitary Tax Roll for 2015/16 and 2024/25 and HDL
Coren & Cone
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
192
Revenue Capacity
Property Tax Levies and Collections
Last Ten Fiscal Years
Schedule 8
Schedule 8 - Property Tax Levies and Collections
Collected within the Fiscal Year
of the Levy Collections in Total Collections to Date
Fiscal Year
ended June 30
Total Tax Levy
for Fiscal
Year1 Amount
Percentage of
Levy
Subsequent
Years*Amount
Percent of
Levy
2016 3,134,303 3,114,233 99.36% — 3,114,233 99.36%
2017 3,187,187 2,632,109 82.58% — 2,632,109 82.58%
2018 3,336,547 2,878,054 86.26% — 2,878,054 86.26%
2019 3,489,499 3,008,322 86.21% — 3,008,322 86.21%
2020 3,675,962 3,064,430 83.36% — 3,064,430 83.36%
2021 3,847,941 2,812,253 73.08% — 2,812,253 73.08%
2022 3,928,815 2,862,513 72.86% — 2,862,513 72.86%
2023 4,099,167 3,091,286 75.41% — 3,091,286 75.41%
2024 4,364,867 3,123,547 71.56% — 3,123,547 71.56%
2025 4,597,238 3,343,356 72.73% — 3,343,356 72.73%
* Information not available.
Source: Los Angeles County Auditor Controller's Office
End Revenue Capacity Information
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
193
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194
Debt Capacity Information
195
Debt Capacity
Direct and Overlapping Debt
As of June 30, 2025
Schedule 9
Schedule 9 - Direct and Overlapping Debt
City Assessed Valuation $6,121,188,834
Total Debt
Percentage
Applicable1
City's Share of
Debt
Direct and Overlapping Tax and Assessment Debt
Metropolitan Water District $ 17,155,000 0.150 %$ 25,733
Los Angeles Community College District 4,919,505,000 0.278 % 13,676,224
Pasadena Area Community College District 149,370,000 2.372 % 3,543,056
Alhambra Unified School District 133,919,695 11.919 % 15,961,888
El Monte Union High School District 253,148,778 13.819 % 34,982,630
Garvey School District 67,119,010 51.099 % 34,297,143
Rosemead School District 50,160,000 66.778 % 33,495,845
Total Direct and Overlapping Tax and Assessment
Debt 140,017,698
Overlapping General Fund Debt
Los Angeles County General Fund Obligations $ 3,036,637,390 0.291%$ 8,836,615
Los Angeles County Superintendent of School
Certificates of Participation 2,331,775 0.291% 6,785
Pasadena Area Community College District
Certificates of Participation 28,490,000 2.372% 675,783
Montebello Unified School District Certificates of
Participation 3,185,000 1.452% 46,246
El Monte Union High School District General Fund
Obligations 9,365,000 13.819% 1,294,149
Total Overlapping General Fund Obligation Debt 10,859,578
Overlapping Tax Increment Debt (Successor Agency) 14,295,000 100%$ 14,295,000
Subtotal Overlapping Debt $ 165,172,276 (2)
Direct Debt (3)
Leases 211,143
SBITAs 43,147 254,290
Total Direct and Overlapping Debt $ 165,426,566
Ratios to 2024-25 Assessed Valuation:
Direct Debt ($0)0.00%
Total Overlapping Tax Assessment Debt 2.29 %
Combined Total Debt 2.70 %
Ratios to Successor Agency Redevelopment Incremental Valuation ($1,096,969,983):
Overlapping Tax Increment Debt 1.30 %
(1) The percentage of overlapping debt applicable to the city if estimated using taxable property value. Applicable percentages were
estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the
district's total taxable assessed value.
(2) Details regarding the City's direct debt can be found in the notes to the financial statements.
(3) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations
Source: California Municipal Statistics, Inc.
City of Rosemead
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
196
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Schedule 10
Schedule 10 - Ratios of Outstanding Debt by Type
Governmental Activities
Fiscal Year
Leases
(in thousand)
Subscriptions
(in thousand)
Total Primary
Government
Percentage of
Personal
Income (1)Per capita (1)
2015-16 $ — — $ — $ — $ —
2016-17 — — — — —
2017-18 — — — — —
2018-19 — — — — —
2019-20 — — — — —
2020-21 — — — — —
2021-22 483 — 483 0.04 % 9.56
2022-23 380 12 392 0.03 % 7.84
2023-24 245 7 252 0.02 % 4.99
2024-25 211 43 254 0.02 % 5.03
Sources:City of Rosemead
Notes:
Details regarding the City's outstanding debt can be found in the notes in the financial
statements.
(1) See Demographic and Economic Statistics (Schedule 13) for personal income and population
data.
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
197
Debt Capacity
Legal Debt Margin
Last Ten Fiscal Years
Schedule 11
Schedule 11 - Legal Debt Margin
Fiscal Year
2025 2024 2023 2022 2021
Assessed valuation $ 6,121,188,834 $ 5,823,611,902 $ 5,593,810,961 $ 5,306,456,661 $ 5,175,006,979
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation $ 1,530,297,209 $ 1,455,902,976 $ 1,398,452,740 $ 1,326,614,165 $ 1,293,751,745
Debt limit percentage 15%15%15%15%15%
Debt limit $ 229,544,581 $ 218,385,446 $ 209,767,911 $ 198,992,125 $ 194,062,762
Total net debt applicable to
limit:
General obligation bonds $ — $ — $ — $ — $ —
Legal debt margin $ 229,544,581 $ 218,385,446 $ 209,767,911 $ 198,992,125 $ 194,062,762
Total debt applicable to the limit
as percentage of debt limit —%—%—%—%—%
The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation. However,
this provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981-82 fiscal
year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The
computations shown above reflect a conversion of assessed valuation data for each fiscal year from the current full valuation
perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California
for local governments located within the state.
Source: Rosemead Finance Department
Los Angeles County Tax Assessor's Office
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
198
Debt Capacity
Legal Debt Margin (Continued)
Last Ten Fiscal Years
Schedule 11
Fiscal Year
2020 2019 2018 2017 2016
Assessed valuation $ 4,960,200,386 $ 4,745,176,577 $ 4,525,131,407 $ 4,337,892,775 $ 4,077,097,445
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation $ 1,240,050,097 $ 1,186,294,144 $ 1,131,282,852 $ 1,084,473,194 $ 1,019,274,361
Debt limit percentage 15%15%15%15%15%
Debt limit $ 186,007,514 $ 177,944,122 $ 169,692,428 $ 162,670,979 $ 152,891,154
Total net debt applicable to
limit:
General obligation bonds $ — $ — $ — $ — $ —
Legal debt margin $ 186,007,514 $ 177,944,122 $ 169,692,428 $ 162,670,979 $ 152,891,154
Total debt applicable to the limit
as percentage of debt limit —%—%—%—%—%
The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation. However,
this provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981-82 fiscal
year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The
computations shown above reflect a conversion of assessed valuation data for each fiscal year from the current full valuation
perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California
for local governments located within the state.
Source: Rosemead Finance Department
Los Angeles County Tax Assessor's Office
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
199
Debt Capacity
Pledged Revenue Coverage
Last Ten Fiscal Years
Schedule 12
Schedule 12 - Pledged Revenue Coverage
Tax Allocation Bonds
Debt Service
Fiscal Year
Ended June 30 Tax Increment Principal Interest Coverage
2016 $5,724,292 $1,995,000 $1,635,578 1.58
2017 4,711,788 850,000 1,602,713 1.92
2018 3,916,792 2,320,000 1,386,038 1.06
2019 3,863,435 2,160,000 1,352,881 1.10
2020 3,634,145 2,205,000 1,229,000 1.06
2021 4,204,501 2,295,000 1,126,375 1.23
2022 4,072,385 2,405,000 1,010,125 1.19
2023 2,801,429 2,530,000 886,780 0.82
2024 2,513,926 2,320,000 765,500 0.81
2025 2,517,914 1,245,000 676,375 1.31
Note:
Details regarding the city's outstanding debt can be found in the notes to the financial statements. Operating
expenses do not include interest or depreciation expenses.
Source: City of Rosemead, Department of Finance
End Debt Capacity Information
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
200
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201
Demographic and Economic Information
202
Demographic and Economic Information
Demographic and Economic Statistics
Last Ten Fiscal Years
Schedule 13
Schedule 13 - Demographic and Economic Statistics
Fiscal Year Population (1)
Personal
Income
(in thousands)(2)
Per Capita
Personal
Income
Unemployment
Rate(3)Median Age(3)
2016 55,231 $932,800 $16,889 7.70 %40.4
2017 54,984 960,740 17,473 6.10 %40.5
2018 55,267 972,350 17,594 4.30 %40.7
2019 55,097 1,040,232 18,880 4.30 %41.5
2020 54,363 1,084,896 19,956 4.20 %41.4
2021 54,229 1,175,005 21,667 16.20 %41.9
2022 50,511 1,181,679 23,394 9.30 %41.3
2023 50,022 1,237,499 24,739 4.60 %41.8
2024 50,541 1,331,252 26,340 4.40 %43.1
2025 50,501 1,371,090 27,149 5.30 %44.5
Source: 1)California State Department of Finance
2)US Census Data
3)California Employment Development Department
Compiled by HdL, Coren & Cone
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
203
Demographic and Economic Information
Principal Employers
Current Fiscal Year and Nine Years Ago
Schedule 14
Schedule 14 - Principal Employers
2025 2016
Employer Name
Number of
Employees Rank
Percentage
of Total City
Employment
1
Number of
Employees Rank
Percentage
of Total
Employment
2
Southern California Edison 2,722 1 10.89%4,100 1 17.08%
Garvey School District 870 2 3.48%804 2 3.35%
Panda Restaurant Group, Inc.786 3 3.14%400 3 1.67%
Wal-Mart 586 4 2.34%435 4 1.81%
Rosemead School District 350 5 1.40%337 1.40%
Target 206 6 0.82%253 1.05%
Hemetic Seal Corporation 131 7 0.52%150 0.63%
Lucille's 97 8 0.39%——%
Double Tree 120 9 0.48%120 0.50%
Don Bosco Tech 98 10 0.39%90 0.38%
University of the West 82 0.33%0 ——%
Olive Garden 152 0.61%111 8 0.46%
Source: City of Rosemead
1Based upon Employment Development Department's estimate of 24,000 residents
employed - June 2016
2Based upon Employment Development Department's estimate of 25,000 residents
employed - June 2025
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
204
Demographic and Economic Information
Top 25 Sales Tax Producers
Current Year and Ten Years Ago
Schedule 15
Schedule 15 - Top 25 Sales Tax Producers
2025 2016
Sales Tax Producers Business Category Sales Tax Producers Business Category
7 Eleven Service Stations 7 Eleven Service Stations
888 Seafood Casual Dining 888 Seafood Casual Dining
Autozone Automotive Supply Stores Allied Building Products Building Materials
Beacon Roofing Supply Building Material AutoZone Automotive Supply Stores
Blooming VIP Restaurant Casual Dining CH Auto Used Automotive Dealers
Boiling Crab Casual Dining Circle K Service Stations
Boston Lobster Casual Dining East Gourmet Seafood Casual Dining
Circle K Service Stations HJ Auto Group Used Automotive Dealers
Happy Lamb Hot Pot Casual Dining In N Out Burger Quick-Service Restaurants
In N Out Burger Quick-Service Restaurants JBL Pipe & Supply Plumbing/Electrical Supplies
Lucille's Smokehouse BBQ Casual Dining Kami Buffet & Grill Casual Dining
Macy's Department Store Macys Department Stores
McDonald's Quick-Service Restaurants Mc Donalds Quick-Service Restaurants
McDonald's Quick-Service Restaurants Mc Donalds Quick-Service Restaurants
Olive Garden Casual Dining Olive Garden Casual Dining
Panda Express Fast-Casual Restaurants Rosemead Mobil Service Stations
Rosemead Valley Mart-Mobil Service Stations Rosemead Valley Mart Mobil Service Stations
Ross Family Apparel Sea Harbour Seafood Casual Dining
Sea Harbour Seafood Casual Dining Shell Service Stations
Shell Service Stations Spa Nails Supply Specialty Stores
Southern California Edison Energy/Utilities T Mobile Electronics/Appliance Stores
T Mobile Electronics/Appliance Store Target Discount Dept Stores
Target Discount Dept Store TGI Fridays Casual Dining
Ulta Beauty Specialty Stores USA Gasoline Service Stations
Walmart Supercenter Discount Dept Store Walmart Supercenter Discount Dept Store
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
205
Demographic and Economic Information
Full-Time Equivalent City Government Employees by Function/Program
Last Ten Fiscal Years
Schedule 16
Schedule 16 - Full-Time Equivalent City Government Employees by Function/Program
Fiscal Year
Function/Program 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Governmental Activities
General Government 18 22 19 19 15 14 13 12 12 12
Public Safety1 10 7 6 8 8 3 3 7 7 6
Community development 8 8 7 5 6 11 10 7 7 7
Public Works 29 28 25 21 21 23 23 21 20 20
Parks and recreation 9 9 9 8 8 9 8 9 9 8
TOTAL 74 74 66 61 58 60 57 56 55 53
Note:
1The City of Rosemead contracts with the Los Angeles County Sheriff's Department for police services and is part of the
Los Angeles County Fire Protection District which provides fire services; therefore, the position numbers shown above do not
include staffing for those services. Public safety positions within the City include public safety administration, code
enforcement, and parking control
End Demographic and Economic Information
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
206
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207
Operating Information
208
Operating Information
Operating Indicators by Function/Program
Last Ten Fiscal Years
Schedule 17
Schedule 17 - Operating Indicators by Function/Program
Function/Program 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Police
Arrests 1,540 1,514 1,867 1,404 2,966 2,649 1,817 1,256 1,046 1,339
Parking citations issued 7,717 8,034 7,501 7,725 9,472 7,898 6,244 8,086 7,676 8,047
Fire
Number of emergency calls 2,170 3,623 4,420 6,098 2,803 2,789 2,823 3,822 3,206 3,352
Inspections 1,532 2,303 1,264 2,132 2,256 2,267 2,288 2,430 2,311 2,564
Public Works
Street resurfacing (miles)0.34 7.20 1.92 4.60 0.00 0.00 1.00 0.80 0.70 1.00
Parks and recreationNumber of recreation
classes 707 543 617 491 210 387 631 707 873 871
Number of facility rental 2,792 3,299 3,191 2,797 1,244 2,387 2,508 3,679 6,226 3,070
Source: City of Rosemead
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
209
Operating Information
Capital Asset Statistics by Function
Last Ten Fiscal Years
Schedule 18
Schedule 18 - Capital Asset Statistics by Function
Function/Program 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Administration
City Hall 1 1 1 1 1 1 1 1 1 1
Public Safety
Public Safety Center 1 1 1 1 1 1 1 1 1 1
Public Works
Corporate Yard 1 1 1 1 1 1 1 1 1 1 1
Streets (miles)81.8 81.8 81.8 81.8 81.8 81.80 81.80 81.80 81.90 81.90
Streetlights 2743 2684 2684 2684 2511 2,511 2,511 2,511 2,712 2,712
Traffic signals 43 43 43 43 42 42 42 42 42 41
Parks and recreation:
Parks 12 10 10 11 12 12 12 11 10 10
Community centers 2 2 2 2 2 2 2 2 2 2
Dinsmoor House 1 1 1 1 1 1 1 1 1 1
Source: City of Rosemead
End Operating Information
City of Rosemead
Unless otherwise Noted, the Source for Statistical Information is the City of Rosemead, Department of Finance
210
CITY OF ROSEMEAD