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Home My WebLink AboutPages from Final CAFR Draft 2020City of Palm Desert Fund Balances of Governmental Funds Last Ten Fiscal Years (Modified Accrual Basis of Accounting) General Fund:2020 2019 2018 2017 2016 Nonspendable 7,196,092 10,559,396 10,509,094 9,067,979 9,528,630 Restricted - - - - - Committed 66,012,415 63,197,223 59,666,638 - - Assigned 16,196,564 15,964,130 15,492,508 658,817 991,853 Unassigned 3,473,480 3,322,321 4,702,308 74,259,748 71,842,172 Total General Fund 92,878,551 93,043,070 90,370,548 83,986,544 82,362,655 All other Governmental Funds: Nonspendable 15,705 193,189 1,726 1,276 3,052 Restricted 168,806,454 175,780,733 169,549,126 171,044,474 165,411,544 (5) Committed 16,275,373 16,247,652 16,751,821 16,771,055 16,873,834 Assigned 27,133,815 21,238,271 23,258,063 23,250,337 Unassigned - - - - - Total all other Governmental Funds 212,231,347 213,459,845 209,560,736 211,067,142 182,288,430 General Fund: 2015 2014 2013 2012 2011 Nonspendable 10,312,261 7,745,320 7,678,250 2,926,739 2,939,850 (1) Restricted - - - - - Committed - - - - - Assigned 1,771,278 4,425,423 3,224,761 3,297,152 4,501,159 Unassigned 67,727,130 66,203,203 65,311,919 69,438,971 66,776,414 Total General Fund 79,810,669 78,373,946 76,214,930 75,662,862 74,217,423 All other Governmental Funds: Nonspendable 348 6,713 (4) 49,319,200 39,525,247 40,925,918 Restricted 106,261,212 114,194,435 (4) 76,725,388 69,065,451 230,623,054 Committed 16,952,887 21,644,068 15,649,703 20,289,309 17,285,733 (2) Assigned 24,172,531 24,429,824 14,144,969 17,552,726 19,375,999 Unassigned - - - - - Total all other Governmental Funds 147,386,978 160,275,040 155,839,260 146,432,733 (3) 308,210,704 (1) RDA made payment on advances from the city. (2) Housing Asset fund transfer for Capital Asset replacement to the Housing Authority. (3) On February 1, 2012 the State of California dissolved the City of Palm Desert Redevelopment Agency as part of the Statewide dissolution of all City Redevelopment Agencies, which in turn created the Successor Agency to the Redevelopment Agency of the City of Palm Desert. (4) Advances to the Successor Agency reclassified from Nonspendable to Restricted for Special Revenue Funds. (5) The City's Capital Properties Capital Project Fund received $65,566,963 and the Housing Asset Fund received $6,571,706 for a combined total of $72,138,669 of capital bond proceeds transferred from the Successor Agency. 183 City of Palm Desert Changes in Fund Balances of Governmental Funds Last Ten Fiscal Years (Modified Accrual Basis of Accounting) Revenues:2020 2019 2018 2017 2016 Taxes 59,635,918 67,102,185 61,906,859 59,466,545 56,735,503 Special assessments collected 3,481,924 3,948,157 3,445,246 3,318,114 3,296,705 Licenses & permits 1,268,965 1,416,829 1,326,049 1,678,709 2,057,843 Intergovernmental revenues 6,401,926 6,194,152 5,682,704 7,249,515 15,429,238 Rental income 7,071,648 6,899,916 6,675,632 6,439,458 5,896,480 Charges for services 5,272,577 5,223,285 2,894,821 2,356,363 2,082,843 Investment Earnings 10,311,159 7,166,097 3,626,892 2,086,224 1,837,319 Fines & forfeitures 127,801 273,434 162,370 135,276 295,269 Miscellaneous 4,741,905 2,892,940 2,886,542 2,594,433 2,317,499 Contributions from other government - - - 3,550,991 - Contributions from property owners - - - - 7,868 Total Revenues 98,313,823 101,116,995 88,607,115 88,875,628 89,956,567 Expenditures: General government 21,468,512 24,269,546 19,281,102 16,887,293 15,783,955 Housing & redevelopment 7,090,941 7,504,119 8,522,801 9,239,680 6,438,849 Pass-through-agreement - - - - - Public safety 37,021,952 36,901,283 36,247,656 34,674,418 33,750,347 Parks, recreation & culture 5,902,166 6,497,391 6,467,713 7,157,821 6,831,534 Public works 21,994,806 8,728,354 12,183,852 8,794,894 11,031,584 Contributions to property owners - - - - 19,584,487 Capital outlay 5,117,968 3,396,511 915,422 2,169,035 7,071,738 Debt service: Principal retirement 225,000 587,000 150,000 237,000 257,000 Interest and fiscal charges 210,292 244,050 260,971 277,814 296,336 Total Expenditures 99,031,637 88,128,254 84,029,517 79,437,955 101,045,830 Excess(deficiency of Revenues over(under) expenditures (717,814) 12,988,741 4,577,598 9,437,673 (11,089,263) Other financing sources (uses) Transfers in 10,702,762 5,319,448 6,613,352 9,406,888 6,030,706 Transfers out (11,377,965) (5,736,558) (6,313,352) (12,218,428) (6,075,206) Special Item (3)- (6,000,000) - - - Extraordinary Gain / (Loss) (2)- - - - 72,138,669 Sale of property - - - - 225,000 Total Other financing sources (uses)(675,203) (6,417,110) 300,000 (2,811,540) 72,319,169 Net Change In Fund Balance (1,393,017) 6,571,631 4,877,598 6,626,133 61,229,906 Revenues:2015 2014 2013 2012 (1) 2011 Taxes 52,571,369 50,464,511 50,768,200 82,901,921 124,672,062 Special assessments collected 3,058,766 3,486,220 3,654,337 3,232,923 3,262,163 Licenses & permits 1,757,250 2,262,907 1,586,796 1,041,834 1,089,543 Intergovernmental revenues 18,981,304 7,380,744 5,097,892 6,637,426 7,605,282 Rental income 5,660,762 5,626,850 5,367,630 5,146,499 5,011,205 Charges for services 1,819,464 2,165,020 898,222 728,721 701,481 Investment Earnings 1,242,662 864,853 373,012 1,469,142 3,102,649 Fines & forfeitures 224,612 231,768 242,568 276,452 310,840 Miscellaneous 2,377,923 3,539,552 9,028,698 6,814,924 3,095,689 Contributions from other government 9,168 10,749,218 - - - Contributions from property owners - 420,590 - - - Total Revenues 87,703,280 87,192,233 77,017,355 108,249,842 148,850,914 Expenditures: General government 15,467,746 17,070,816 14,028,252 15,851,883 15,273,085 Housing & redevelopment 9,349,021 6,650,178 5,650,666 8,942,097 18,033,576 Pass-through-agreement - - - 16,994,265 39,418,936 Public safety 31,819,214 29,139,735 28,299,876 27,551,113 26,824,434 Parks, recreation & culture 6,236,717 5,802,941 6,162,449 3,685,334 3,845,901 Public works 13,082,388 12,741,764 9,819,591 11,306,021 11,256,499 Contributions to property owners 49 2,350,187 - - - Capital outlay 19,339,987 6,273,822 2,788,676 9,575,227 14,205,889 Debt service: Principal retirement 4,944,000 674,000 318,000 9,032,707 22,914,707 Interest and fiscal charges 240,219 242,495 255,239 10,187,765 18,176,454 Total Expenditures 100,479,341 80,945,938 67,322,749 113,126,412 169,949,481 Excess(deficiency of Revenues over(under) expenditures (12,776,061) 6,246,295 9,694,606 (4,876,570) (21,098,567) Other financing sources (uses) Transfers in 6,132,859 4,861,551 11,274,539 24,453,724 69,995,597 Transfers out (6,971,359) (5,424,051) (11,010,550) (24,013,724) (70,555,597) Extraordinary Gain / (Loss) (2)- - - (155,895,962) - Sale of property 2,163,222 911,001 - - - Total Other financing sources (uses)1,324,722 348,501 263,989 (155,455,962) (560,000) Net Change In Fund Balance (11,451,339) 6,594,796 9,958,595 (160,332,532) (21,658,567) 1.2%0.9%18.6% 26.4% (1) On February 1, 2012 the State of California dissolved the City of Palm Desert Redevelopment Agency as part of the Statewide dissolution of all City Redevelopment Agencies, which in turn created the Successor Agency to the Redevelopment Agency of the City of Palm Desert. For more information on the dissolution of the RDA please see Note 16 and 17. (2) The City's Capital Properties Capital Project Fund received $65,566,963 and the Housing Asset Fund received $6,571,706 for a combined total of $72,138,669 of capital bond proceeds transferred from the Successor Agency. (3) City established an allowance for advances owed by the Successor Agency. Debt service as a percentage of noncapital expenditures Debt service as a percentage of noncapital expenditures 0.6% 6.4% 0.7%0.5%1.0%0.5% 184 City of Palm Desert Graphs - Changes in Fund Balances of Governmental Funds Last Ten Fiscal Years (Modified Accrual Basis of Accounting) (1) Combined Other is a combination of rental income, investment earnings, and charges for services. (2) Miscellaneous Other is a combination of fines and forfeitures, miscellaneous, contributions from other governments, and contributions from property owners. (3) Debt Expenditures is a combination of interest/fiscal charges and principal retirement . (4) Public works is a combination of public works and contributions to property owners. Note: Graphs excludes Other financing sources and uses. $0 $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 $300,000,000 FY 2 0 2 0 FY 2 0 1 9 FY 2 0 1 8 FY 2 0 1 7 FY 2 0 1 6 FY 2 0 1 5 FY 2 0 1 4 FY 2 0 1 3 FY 2 0 1 2 FY 2 0 1 1 Total Revenues Combined other (1) Miscellaneous other (2) Intergovernmental revenues Licenses & permits Taxes & Special Assessments $0 $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 $300,000,000 FY 2 0 2 0 FY 2 0 1 9 FY 2 0 1 8 FY 2 0 1 7 FY 2 0 1 6 FY 2 0 1 5 FY 2 0 1 4 FY 2 0 1 3 FY 2 0 1 2 FY 2 0 1 1 Total Expenditures Parks, recreation & culture Pass-through-agreement Debt Expenditures (3) Capital outlay Public works (4) Public safety Housing & Redevelopment General Government 185 City of Palm Desert Supplemental - Historical General Fund Revenues (including Transfers In) Last Ten Fiscal Years FY 2020 2019 2018 2017 2016 Revenue Type: Sales Tax 18,445,806$ 21,434,387$ 18,627,704$ 18,505,449$ 18,994,779$ Transient Occupancy Tax 11,681,583 17,250,843 17,019,034 15,054,259 11,252,997 Property Tax (3)11,101,584 11,074,207 10,777,998 10,157,813 10,461,595 Investment Earnings 4,181,814 2,672,643 1,237,562 644,341 725,015 Transfer In 2,472,976 937,202 1,610,830 1,472,852 1,390,258 Franchises 3,025,984 3,078,855 3,097,521 3,146,702 3,095,873 State Subventions (1) (3)60,593 82,722 38,876 23,101 59,317 Building & Grading Permits 953,176 1,064,071 1,048,973 1,247,390 1,216,115 Reimbursements (4)1,375,770 1,468,351 1,388,654 1,407,811 1,589,511 Business License Tax 1,038,137 1,216,712 1,154,275 1,118,183 1,269,082 Timeshare Mitigation Fee 1,467,905 1,678,375 1,543,762 1,467,028 1,500,683 Plan Check Fees 468,180 619,763 691,096 431,115 592,818 Property Transfer Tax 566,468 727,978 664,822 690,975 491,060 Other Revenues (2)3,130,862 2,352,803 1,951,122 2,185,703 2,189,063 Total General Revenue 59,970,838$ 65,658,912$ 60,852,229$ 57,552,722$ 54,828,166$ FY 2015 2014 2013 2012 2011 Revenue Type: Sales Tax 17,565,134$ 17,258,958$ 16,764,808$ 15,836,953$ 14,680,578$ Transient Occupancy Tax 10,799,680 9,855,509 9,188,981 8,085,225 7,421,769 Property Tax (3)9,710,990 9,041,428 9,529,018 7,976,494 8,341,728 Investment Earnings 416,656 405,456 126,206 408,661 793,461 Transfer In 2,179,472 1,373,786 2,127,655 2,240,703 2,691,634 Franchises 3,102,431 3,007,215 2,892,805 2,856,679 2,771,594 State Subventions (1) (3)155,049 22,089 26,691 25,759 236,211 Building & Grading Permits 1,279,706 1,695,303 1,206,935 750,442 783,031 Reimbursements (4)1,604,707 1,809,323 1,868,804 2,535,977 1,971,505 Business License Tax 1,160,207 1,169,316 1,149,551 1,076,541 1,085,411 Timeshare Mitigation Fee 1,483,158 1,333,586 1,292,859 1,110,227 1,192,490 Plan Check Fees 505,370 662,893 500,698 275,728 317,332 Property Transfer Tax 558,965 530,556 520,393 485,040 399,280 Other Revenues (2)1,713,758 1,932,009 1,961,314 1,398,669 1,475,154 Total General Revenue 52,235,283$ 50,097,427$ 49,156,718$ 45,063,098$ 44,161,178$ (1) State Subventions is any combination of motor vehicle, off-highway in-lieu, and subventions from state. (2) Other Revenues is any combination of miscellaneous penalties and interest, permits, grants, parking bails, fees, sales of maps and publications, vehicle and court fines, rental income and other revenues. (3) The State of California reprogramed motor vehicle fees, the City now receives this as property taxes. (4) Reimbursements is a combination of RDA costs and other reimbursements, due to dissolution in February 2012 the RDA reimbursement is limited and applies to existing projects. 186 City of Palm Desert Supplemental Graph - Historical General Fund Revenues (Including Transfers In) Last Ten Fiscal Years (1) Combined Other is any combination of transfers, franchises, state subventions*, building and grading permits, reimbursements, business license taxes, timeshare mitigation fees, plan check fees, property transfer taxes. It also may include any combination of miscellaneous bails, fees, fines, grants, incomes, penalties, permits, sales and taxes. *State Subventions is any combination of motor vehicle, off-highway in-lieu, and subventions from state. $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 F Y 2 0 2 0 F Y 2 0 1 9 F Y 2 0 1 8 F Y 2 0 1 7 F Y 2 0 1 6 F Y 2 0 1 5 F Y 2 0 1 4 F Y 2 0 1 3 F Y 2 0 1 2 F Y 2 0 1 1 Combined Other (1) Interest Property Tax Transient Occupancy Tax Sales Tax 187 City of Palm Desert Supplemental - Historical General Fund Expenditures (Including Transfers Out) Last Ten Fiscal Years FY 2020 2019 2018 2017 2016 Expenditure: Public Safety (1)21,415,334$ 20,975,032$ 21,088,867$ 20,424,249$ 20,151,237$ City Administration (2)11,429,468 12,521,081 11,460,325 8,238,228 7,971,706 Public Works Administration 2,457,045 2,149,715 2,333,897 2,637,630 2,664,871 Community Promotions 947,370 1,249,674 1,179,305 1,062,611 791,565 Street Maintenance 2,212,933 2,185,648 2,020,797 2,418,451 2,709,328 Building Safety 1,661,372 1,828,083 1,579,734 1,849,442 1,888,290 Street Resurfacing - - 2,760 25,326 1,083,919 Public Works (4)1,151,447 1,250,969 1,133,007 970,877 1,004,989 Other Expenditures (3)18,860,388 20,826,188 13,669,533 18,302,019 14,010,275 Total Expenditures 60,135,357$ 62,986,390$ 54,468,225$ 55,928,833$ 52,276,180$ FY 2015 2014 2013 2012 2011 Expenditure: Public Safety (1)18,784,117$ 17,306,342$ 17,002,291$ 16,532,894$ 16,047,991$ City Administration (2)7,561,255 7,413,578 7,180,519 7,670,377 8,023,314 Public Works Administration 2,645,443 2,556,967 2,528,131 2,527,817 2,380,255 Community Promotions 749,631 618,138 575,119 526,804 497,366 Street Maintenance 2,631,590 2,806,168 2,353,655 2,446,854 2,522,117 Building Safety 1,847,798 1,783,918 1,517,937 1,538,506 1,523,748 Street Resurfacing 998,463 4,466 1,179,743 2,332,968 2,268,901 Public Works (4)1,067,837 1,018,435 1,505,018 1,056,998 1,354,255 Other Expenditures (3)14,512,426 14,430,399 14,762,237 8,984,441 12,894,776 Total Expenditures 50,798,560$ 47,938,411$ 48,604,650$ 43,617,659$ 47,512,723$ (1) Public Safety is any combination of animal regulation, police services, community safety and traffic safety expenditures, this does not include for Fire Services. Fire Services are reported in a different fund. (2) City Administration is any combination of community services, independent audit, City attorney, City clerk, City council, City manager, information technology, elections, finance, general services, human resources, insurance, legal special services, legislative advocacy and unemployment insurance expenditures. (3) Other Expenditures is any combination of acquisitions, committees, contributions, retiree health, planning & community development, economic development, marketing, interfund transfers, parks, recreation and culture, extraordinary loss and visitor center, capital outlay, special item, included in the transfer out is transfer to the Fire fund for its shortfall. (4) Public Works is a combination of curb & gutter, parking lot, auto fleet, corporate yard, public building maintenance, Portola Community center, storm water permit. 188 City of Palm Desert Supplemental Graph- Historical General Fund Expenditures (Including Transfers Out) Last Ten Fiscal Years (1) Public Safety is any combination of animal regulation, police services, community safety and traffic safety expenditures, this does not include the cost for Fire Services. Fire Services are reported in a different fund. (2) City Administration is any combination of community services, independent audit, City attorney, City clerk, City council, City manager, information technology, elections, finance, general services, human resources, insurance, legal special services, legislative advocacy and unemployment insurance expenditures. (3) Other Expenditures is any combination of acquisitions, committees, contributions, retiree health, planning & community development, economic development, marketing, interfund transfers, parks, recreation and culture, extraordinary loss and visitor center, capital outlay, special item, included in the transfer out is transfer to the Fire fund for its shortfall. (4) Public Works is a combination of curb & gutter, parking lot, auto fleet, corporate yard, public building maintenance, Portola Community center, storm water permit. $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 F Y 2 0 2 0 F Y 2 0 1 9 F Y 2 0 1 8 F Y 2 0 1 7 F Y 2 0 1 6 F Y 2 0 1 5 F Y 2 0 1 4 F Y 2 0 1 3 F Y 2 0 1 2 F Y 2 0 1 1 Combined Other (1) Community Promotions Public Works Administration City Administration (2) Public Safety (3) 189 THIS PAGE INTENTIONALLY LEFT BLANK 190 City of Palm Desert Supplemental Historical General Revenue and Expenditures Per Capita Last Ten Fiscal Years FY 2020 2019 2018 2017 2016 Total General Revenue (2)57,497,862$ 64,721,710$ 59,241,399$ 56,079,870$ 53,437,908$ Population (1)52,986 53,625 52,769 50,740 49,335 General Revenue Per Capita 1,085 1,207 1,123 1,105 1,083 FY 2015 2014 2013 2012 2011 Total General Revenue (2)50,055,811$ 48,723,641$ 47,029,063$ 42,822,395$ 41,469,544$ Population (1)51,053 50,417 49,949 49,471 49,111 General Revenue Per Capita 980$ 966$ 942$ 866$ 844$ FY 2020 2019 2018 2017 2016 Total General Expenditures (2)51,498,878$ 57,900,932$ 49,992,388$ 48,427,111$ 48,134,252$ Population (1)52,986 53,625 52,769 50,740 49,335 General Expenditures Per Capita 972 1,080 947 954 976 FY 2015 2014 2013 2012 2011 Total General Expenditures (2)46,302,187$ 44,183,659$ 42,155,428$ 42,099,903$ 41,833,291$ Population (1)51,053 50,417 49,949 49,471 49,111 General Expenditures Per Capita 907$ 876$ 844$ 851$ 852$ (1) Population figures are as of January start of fiscal year. (2) Interfund Transfers In/Out, extraordinary loss (gain), and special item are not included in total. Sources: Population figures from State Department of Finance, City of Palm Desert Finance Department 191 City of Palm Desert Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years Fiscal Year Ended June 30 Residential Property Commercial Industrial Property Institutional Property Vacant Land Less: Tax Exempt Total Taxable Assessed Value Total Direct Tax Rate Estimated Actual Taxable Value (1) 2020 11,781,804,552 2,771,257,791 63,343,035 300,879,417 *(45,437) 15,835,758,806 1.00000 15,636,583,844 2019 11,231,546,199 2,675,659,205 62,224,633 373,347,796 (326,679,322) 15,556,158,170 1.00000 15,045,226,485 2018 10,757,283,204 2,554,854,761 59,762,684 388,457,449 (313,754,093) 14,940,671,116 1.00000 14,445,331,683 2017 10,555,732,091 2,434,816,656 58,318,962 379,073,252 (306,174,550) 14,579,740,457 1.00000 14,095,158,994 2016 10,174,360,142 2,358,860,033 56,840,001 412,090,006 (312,620,004) 14,210,000,198 1.00000 13,743,682,041 2015 9,636,181,445 2,290,456,630 54,211,991 420,142,932 (298,165,952) 13,552,997,813 1.00000 13,086,962,905 2014 9,043,372,632 2,247,924,054 64,595,519 426,330,424 (297,139,386) 12,919,103,760 1.00000 12,453,921,285 2013 8,621,493,305 2,239,836,432 62,565,263 462,982,950 (300,313,265) 12,513,052,693 1.00000 12,064,845,537 2012 8,694,403,021 2,198,729,088 50,256,665 452,309,984 (288,975,823) 12,564,166,215 1.00000 12,123,771,853 2011 8,982,403,643 2,179,940,065 52,528,676 564,683,270 (288,907,720) 13,132,169,069 1.00000 12,707,884,566 (1) Estimated Actual Taxable Value = Net Taxable Value * Per HDL there was an artifact change in the Riverside County Assessors data that occurred primarily between 2018 and 2019, new vs old system differences, the few properties which are listed as having asssessed value and being non-taxable are either new to the roll or are newly non-taxable for 2019. Notes: Property Taxes in Riverside County are subject to the State of California's Proposition 13, Jarvis-Gann Initiative which allows reappraisals of real property only when there is a change in ownership or new construction takes place. Further, the proposition limits property assessment increase to no more than two(2%) percent annually. Property is assessed at one hundred percent (100%) of its fair market value at the time of new construction or change in ownership. The tax rate is one (1%) percent of the assessed value. Source: Riverside County Assessor thru HDL Coren & Cone 192 City of Palm Desert Historical Net Assessed Taxable Values Citywide Graph - Assessed Valuation Growth Last Ten Fiscal Years Historical Major Additions Annexations FY Retail Centers FY Cook Street Area 88/89 Town Center Mall 83/84 Country Club #28 93/94 Desert Springs Marriott 86/87 Price Club/Costco 93/94 One Eleven Town Ctr 88/89 Palm Desert CC #29 94/95 Mervyn's Center 92/93 Palm Desert Greens 04/05 Desert Crossing 95/96 Suncrest 04/05 Lucky's/Albertson Deep Canyon 96/97 Remodel 111 Town Ctr (Best Buy) 97/98 Gardens on El Paseo 98/99 Remodel Westfield Mall (Sears, Barnes & Noble) 04/05 Sears Automotive 04/05 Lowes Home Improvement 05/06 Walmart / Sam's Supercenters 05/06 Kohl's 07/08 Golfsmith Extreme 08/09 El Paseo Village 09/10 Best Buy & Ulta 11/12 Remodel Westfield Mall (Dick's/H&M/Restaurants) 12/13 PGA Tour Superstore 12/13 Total Wine & More 13/14 Tesla Motors 15/16 Source: Riverside County Assessor thru HDL Coren & Cone -3.43%-4.60%-0.49% 3.22%5.08%5.02% 2.56% 2.48% 4.15%3.93% -5.00% 0.00% 5.00% 10.00% 15.00% 20.00% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Percent Increase in Assessed Valuation FY 2011 to FY 2020 $- $5,000 $10,000 $15,000 $20,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Value in Millions Net Assessed Valuation - Historical Comparison FY 2011 to FY 2020 193 City of Palm Desert Supplemental FY 2020 and 2019 Breakdown of Basic 1% Property Tax Rate Not in Redevelopment Project Area Taxing Agency FY 2020 Rate FY 2019 Rate County General 28.177327%28.177327% County Free Library 2.728242%2.728242% County Structure Fire Protection 5.873086%5.873086% City of Palm Desert (1)0.000000%0.000000% Desert Sands Unified School District 36.221587%36.221587% Desert Community College 7.526714%7.526714% Riverside County Reg. Park & Open Space 0.426231%0.426231% Riverside County Office of Education 4.094919%4.094919% Desert Hospital 1.996808%1.996808% Coachella Valley Public Cemetery 0.339927%0.339927% Coachella Valley Recreation & Park 2.071624%2.071624% Coachella Valley Mosquito & Vector Control 1.369698%1.369698% Coachella Valley County Water 2.736607%2.736607% Coachella Valley County Water Imp. District 80 2.972906%2.972906% Coachella Valley County Water Storm Water Unit 3.464324%3.464324% General Purpose Basic 1%100.000000%100.000000% (1) City of Palm Desert is a No-Low Property Tax City and the 7% represents what the state allocates to No-Low Property Tax Cities. Source: County of Riverside, Property Tax Allocation Percentages, TRA 018-041. 194 City of Palm Desert Property Tax Rates Direct and Overlapping Property Tax Rates Last Ten Fiscal Years Fiscal Year Basic County-wide Levy Total Direct Tax Rate Desert Sands Unified School District Desert Community College Dist. Coachella Valley Water District Coachella Valley Water District I.D. 58 2020 1.00000 1.00000 0.07381 0.03983 0.10000 0.00000 2019 1.00000 1.00000 0.07418 0.03978 0.10000 0.00000 2018 1.00000 1.00000 0.07251 0.04030 0.10000 0.00000 2017 1.00000 1.00000 0.08599 0.02036 0.10000 0.00000 2016 1.00000 1.00000 0.10915 0.02087 0.10000 0.00000 2015 1.00000 1.00000 0.10984 0.02325 0.10000 0.00000 2014 1.00000 1.00000 0.10954 0.01995 0.10000 0.00000 2013 1.00000 1.00000 0.11156 0.01995 0.08000 0.00000 2012 1.00000 1.00000 0.11467 0.01995 0.08000 0.00000 2011 1.00000 1.00000 0.10036 0.01995 0.08000 0.00000 Notes:Proposition 13 limits the ability of the city to raise the property tax rate. Source: CalMuni Statistics Inc City Direct Overlapping Rates 195 City of Palm Desert Principal Property Taxpayers Current and Ten Years Ago 2020 2011 Taxpayer Taxable Assessed Value Percentage of Total City Tax Assessed Value Taxpayer Taxable Assessed Value Percentage of Total City Tax Assessed Value Marriott Desert Springs 169,968,035$ 1.08%Marriott Desert Springs $164,824,823 1.29% WEA Palm Desert 159,507,723 1.02%WEA Palm Desert LP 138,093,212 1.08% Gardens on El Paseo LLC 139,462,834 0.89%Desert Crossing II 88,684,713 0.70% WVC Rancho Mirage Inc 127,141,159 0.81%Gardens SPE II 78,571,131 0.62% PRU Desert Crossing LLC 102,201,791 0.65%Palm Desert Funding Co 60,970,223 0.48% CC Cimarron LP 67,920,775 0.43%Elisabeth E. Stewart 58,380,362 0.46% Bighorn Golf Club 66,300,439 0.42%Time Warner Ent 55,409,220 0.43% First American Trust 60,166,959 0.38%Lomas de Arena 51,502,791 0.40% Walmart Real Estate Business Trust 54,318,454 0.35%WVC Rancho Mirage Inc 48,644,917 0.38% Segovia Operations 52,818,440 0.34%Monarch Sevilla Venture 47,835,778 0.38% Total 999,806,609$ 6.38%Total 792,917,170$ 6.22% Note:The estimated property tax revenue stated above is based upon net taxable values, tax ratios and base year values that impact the revenue calculation. As a result, parcels with the same assessed value that are assigned to different tax rate areas may contribute dissimilar amounts of total revenue to the City and Redevelopment Agency. Source: HdL Coren & Cone thru Riverside County Assessor 17/18 and HdL Coren & Cone thru Riverside County Assessor 08/09 196 City of Palm Desert Property Tax Levies and Collections Last Ten Fiscal Years Fiscal Year Taxes Levied Collections Ended for the Percentage in Subsequent Percentage June 30, Fiscal Year Amount of Levy Years (4)Amount (4)(5)of Levy 2011 5,312,856 4,560,417 85.84% 486,495 4,776,795$ 89.91% 2012 5,478,345 4,366,451 79.70% 1,111,894 5,478,345$ 100.00% 2013 5,398,524 4,913,780 91.02% 484,744 5,398,524$ 100.00% 2014 5,623,740 5,048,787 89.78% 574,953 5,623,740$ 100.00% 2015 5,911,501 5,523,658 93.44% 387,843 5,911,501$ 100.00% 2016 6,212,993 5,943,252 95.66% 269,741 6,212,993$ 100.00% 2017 6,731,899 6,022,566 89.46% 182,652 6,205,218$ 92.18% 2018 6,729,952 6,553,297 97.38% 173,642 6,726,940$ 99.96% 2019 6,867,405 6,640,656 96.70% 207,894 6,848,550$ 99.73% 2020 7,202,939 6,502,032 90.27% 211,602 6,713,634$ 93.21% (1) City of Palm Desert is on the "Teeter Plan" with the County of Riverside. The first payment was received in the fiscal year 1993/94. (2) City of Palm Desert is a "No-Low Property Tax City". Proposition 13 rolled the tax rates back to 1973 which is when the City of Palm Desert incorporated and the Property Tax rates were zero. Based on current state law the County allocates 7% of the 1% assessed values within the City less the Redevelopment Agency tax increment. Fiscal Year 1992/93 was the first year to receive the No/Low taxes. (3) Fiscal Year 1996/97 final total collected includes adjustments for No-Low property tax collections from prior years modified by the County of Riverside. The County adjusted the payment to the City of Palm Desert (FY 1995/96) for the annexation of Palm Desert Country Club. (4) Includes tax collections accrued as of June 30, 2020. (5) Includes amounts receivable for tax year 2019-2020 along with prior receivables due for prior tax years. Source: Riverside County Auditor Controller Office and City of Palm Desert Collected within the Fiscal Year of the Levy (1) (2) (3) Total Collections to Date - 197 City of Palm Desert Supplemental Top 25 Sales Tax Generators Graph - Historical Sales Tax Trends June 30, 2020 Top 25 Sales Tax Generators (1)Primary Economic Category ALBERTSON'S FOOD CENTERS SUPERMARKETS AMERICAN BUILDERS/CONTRACTOR SUPPLY SPECIALTY WHOLESALE STORES ASHLEY FURNITURE HOME FURNISHINGS BEST BUY STORES LP APPLIANCE / ELECTRONICS BOT HOME AUTOMATION-RING ONLINE RETAIL CARMAX AUTO SUPERSTORES AUTOMOBILE DEALER CIRCLE K FOOD STORES SERVICE STATIONS CONSOLIDATED ELECTRICAL DISTRIBUTORS SPECIALTY WHOLESALE STORES COSTCO WHOLESALE COMPANY WHOLESALE GENERAL STORES JOHNSTONE SUPPLY CO SPECIALTY WHOLESALE STORES LEEDS & SON JEWELERS SPECIALTY STORES LOWE'S HOME CENTERS BLDG. MATLS-WHSLE MACY'S DEPARTMENT STORES DEPARTMENT STORES MATERIAL SUPPLY CO SPECIALTY WHOLESALE STORES PALM ROYALE COLLECTIVE MISCELLANEOUS RETAIL STORES RALPH'S GROCERY CO SUPERMARKETS RAPPORT FURNITURE HOME FURNISHINGS SAM'S CLUB WHOLESALE GENERAL STORES SANTA FE COLLECTION SPECIALTY WHOLESALE STORES SUPERIOR POOL PRODUCTS SPECIALTY WHOLESALE STORES TARGET STORES DEPARTMENT STORES TESLA MOTORS AUTOMOBILE DEALER TOTAL WINE & MORE SUPERMARKETS TOWER MARKET SERVICE STATIONS WAL-MART SUPERCENTER DEPARTMENT STORES (1) Listed in Alphabetical Order Note : Current California law prohibits production of individual tax information as an effort not to infringe on proprietary information, therefore confidential information which is protected by law is not disclosed. * The State of California exchanged Sales Tax Revenue with Property taxes, this amount represents the portion of sales tax that were exchanged. Source: SBOE Data, MuniServices LLC. In Lieu given to city from State ERAF Property Taxes, City of Palm Desert $7.0 $9.0 $11.0 $13.0 $15.0 $17.0 $19.0 $21.0 $23.0 $25.0 $27.0 20 1 1 20 1 2 20 1 3 20 1 4 20 1 5 20 1 6 20 1 7 20 1 8 20 1 9 20 2 0 Millions Sales and Use Tax Trends FY 2011 - 2020 -2.57%0.66% 15.1% -13.9% 7.9%5.9% Amounts in Millions % = % Change from Prior Year 1.8% 8.1% $14.680 $15.836 $16.764 $17.258 $17.564 $18.994 $18.505 $18.627 $21.434 $18.445 10.6%-In Lieu * 2.9% 198 Ratios of Outstanding Debt by Type Last Ten Fiscal Years Business Type Activities Special Assessment/Total Percentage Total Debt Fiscal Local Obligation Note Capital Primary of Total Personal Per Year Bonds b Payable Leases Government Income a,f Capita a,f 2011 9,543,000 122,707 1,035,721 10,701,428 0.42%218 2012 9,238,000 - 2,291,358 11,529,358 0.45%233 2013 8,920,000 - 1,751,083 10,671,083 0.41%214 2014 8,246,000 - 1,222,915 9,468,915 0.35%188 2015 3,302,000 - 1,435,046 4,737,046 0.17%93 2016 3,045,000 - 929,860 3,974,860 0.14%81 2017 2,808,000 - 499,881 3,307,881 0.12%65 2018 2,658,000 - 1,493,330 4,151,330 0.15%79 2019 2,071,000 - 1,595,394 3,666,394 0.13%68 2020 1,846,000 - 1,145,011 2,991,011 0.10%56 Notes: Details regarding the city's outstanding debt can be found in the notes to the financial statements. a - Personal income, population and per capita information provided by California Department of Finance, and U.S Census Bureau and/or estimated by City Finance using 1.5% growth rate. b - Special Assessment Government Activities includes Highlands Undergrounding AD No# 04-01, as of June 30, 2020 the balance was $1.17M. c - Fiscal Year End 2009 the City issued the Energy Independence Program Limited Obligation Improvement Bonds Series 2009A (Taxable) $2.5 million to fund the Energy Independence Loan Program. The actual Bond Issuance was for $2.015m. At June 30, 2020 the oustanding balance was $0.355M d - The City issued $1.136 million dollars of the Energy Independence Program (AB811 Assessments) Limited Obligation Improvement Bonds (Taxable) The special assessment collection will commence during the fiscal year 2010-2011. At June 30, 2020 the outstanding balance was $0.313M. e - In addition the Palm Desert Financing Authority issued $5.225 million dollars of the Energy Independence Program Variable Rate Demand Lease Revenue Bonds, Series 2009(Federally Taxable). On September 2, 2014 the bonds were called in full.as of June 30, 2017 their were no outstanding bonds. f - Personal income and Per Capita statistic includes government and business type activities combined. Governmental Activities 199