HomeMy WebLinkAboutACFR - FY 2024-25CITY OF DIAMOND BAR, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Prepared by:
Finance Department
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CITY OF DIAMOND BAR, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Table of Contents
Page(s)
INTRODUCTORY SECTION
Letter of Transmittal ..................................................................................................................................................... i
GFOA Certificate of Achievement for Excellence in Financial Reporting .................................................................. iv
Organization Chart ...................................................................................................................................................... v
List of Elected and Administrative Officials ............................................................................................................... vi
FINANCIAL SECTION
Independent Auditors’ Report .................................................................................................................................... 1
Management's Discussion and Analysis (Required Supplementary Information) ..................................................... 5
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements
Statement of Net Position ........................................................................................................................... 19
Statement of Activities ................................................................................................................................ 21
Fund Financial Statements
Balance Sheet – Governmental Funds ...................................................................................................... 23
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Position ................................................................................................................. 24
Statement of Revenues, Expenditures, and Changes in Fund Balances .................................................. 25
Reconciliation of Statement of Revenues, Expenditures and Changes in
Fund Balances of the Governmental Funds to the Statement of Activities ................................................ 26
Statement of Net Position – Proprietary Funds .......................................................................................... 27
Statement of Revenues, Expenses, and Changes in Fund Net
Position – Proprietary Funds ...................................................................................................................... 28
Statement of Cash Flows – Proprietary Funds ........................................................................................... 29
Notes to Basic Financial Statements ............................................................................................................. 31
CITY OF DIAMOND BAR, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Table of Contents
Page(s)
REQUIRED SUPPLEMENTARY INFORMATION
Budgetary Comparison Information:
Budgetary Comparison Schedule – General Fund ................................................................................. 6 3
Budgetary Comparison Information:
Budgetary Comparison Schedule – Traffic Improvement Fund ............................................................. 64
Schedule of Proportionate Share of the Net Pension Liability ........................................................................ 65
Schedule of Changes in the Net OPEB Liability and Related Ratios ............................................................. 6 6
Schedule of Plan Contributions – Pension ..................................................................................................... 68
Schedule of Contributions – OPEB ................................................................................................................. 68
Notes to Required Supplementary Information .............................................................................................. 69
SUPPLEMENTAL INFORMATION
Combining Balance Sheet .............................................................................................................................. 76
Combining Statement of Revenues, Expenditures, and Changes in
Fund Balances ................................................................................................................................................ 84
Budgetary Comparison Schedules - Special Revenue Funds:
State Gas Tax .............................................................................................................................................. 91
Proposition A Transit ................................................................................................................................... 92
Proposition C Transit ................................................................................................................................... 93
Integrated Waste Management ................................................................................................................... 94
Sewer Mitigation .......................................................................................................................................... 95
Air Quality Improvement .............................................................................................................................. 96
Measure M Local Return ............................................................................................................................. 97
Road Maintenance & Rehab ....................................................................................................................... 98
Trails & Bikeways ........................................................................................................................................ 99
Beverage Center Recycling Grant ............................................................................................................. 100
Used Oil Block Grant ................................................................................................................................. 101
Park and Facility Development .................................................................................................................. 102
Community Development Block Grant (CDBG) ........................................................................................ 103
Citizens Option for Public Safety (COPS) ................................................................................................. 104
Landscape Maintenance District ............................................................................................................... 105
Measure R Local Return ............................................................................................................................ 106
PEG Fees .................................................................................................................................................. 107
Waste Hauler ............................................................................................................................................. 108
CASP Fees (SB1186) ................................................................................................................................ 109
Street Beautification .................................................................................................................................. 110
Measure W Return .................................................................................................................................... 111
Hazard Mitigation Grant ............................................................................................................................. 112
Homelessness Response .......................................................................................................................... 113
PLHA ......................................................................................................................................................... 114
CITY OF DIAMOND BAR, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Table of Contents
Page(s)
SUPPLEMENTAL INFORMATION (Continued)
Budgetary Comparison Schedule – Capital Projects Fund:
Capital Improvement ................................................................................................................................. 115
Budgetary Comparison Schedule – Debt Service Fund:
Public Financing Authority ......................................................................................................................... 116
Internal Service Funds:
Combining Statement of Net Position ........................................................................................................... 117
Combining Statement of Revenues, Expenses, and Changes in
Fund Net Position ......................................................................................................................................... 118
Combining Statement of Cash Flows ........................................................................................................... 119
STATISTICAL SECTION
Financial Trends:
Net Position by Component - Last Ten Fiscal Years .................................................................................... 123
Changes in Net Position - Last Ten Fiscal Years ......................................................................................... 124
Fund Balances of Governmental Funds - Last Ten Fiscal Years ................................................................. 126
Changes in Fund Balances of Governmental Funds - Last Ten Fiscal Years .............................................. 128
Revenue Capacity:
Property Tax Dollar Breakdown .................................................................................................................... 130
Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years .................................. 131
Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years ........................................................... 132
Top 10 Property Taxpayers - Current Fiscal Year and Nine Fiscal Years Ago ............................................ 133
Property Tax Levies and Collections - Last Ten Fiscal Years ...................................................................... 134
Debt Capacity:
Ratios of Outstanding Debt by Type - Last Ten Fiscal Years....................................................................... 135
Direct and Overlapping Debt ........................................................................................................................ 136
Computation of Legal Debt Margin - Last Ten Fiscal Years ......................................................................... 137
Demographic and Economic Information:
Demographic and Economic Statistics - Last Ten Calendar Years .............................................................. 138
Taxable Sales by Category - Current Fiscal Year and Nine Fiscal Years Ago ............................................ 140
Operating Information:
Full-Time Equivalent City Employees by Function - Last Ten Fiscal Years ................................................. 142
Operating Indicators by Function - Last Ten Fiscal Years ............................................................................ 143
Capital Asset Statistics by Function - Last Ten Fiscal Years ....................................................................... 144
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City of Diamond Bar
21810 Copley Drive | Diamond Bar, CA 91765-4178
909-839-7000 | Fax 909-861-3117
www.DiamondBarCA.gov
Steve Tye
Mayor
District 1
Ruth M. Low
Mayor Pro Tem
District 2
Andrew Chou
Council Member
District 3
Stan Liu
Council Member
District 5
Chia Yu Teng
Council Member
District 4
January 28, 2025
To the Honorable Mayor, Members of the City Council
and the Residents of the City of Diamond Bar, California:
It is an honor to submit to you the Annual Comprehensive Financial Report (ACFR) of the City of Diamond
Bar for the fiscal year ended June 30, 2025. This report consists of management’s representations
concerning the finances of the City. Consequently, responsibility for both the accuracy of the presented data
and the completeness and fairness of the presentation n, including all disclosures, rests with the City’s
management. To provide a reasonable basis for making these representations, management of the City has
established a comprehensive internal control framework that is designed both to protect the City’s assets
from loss, theft, or misuse and to compile sufficient reliable information for the preparation of the City’s
financial statements in conformance with generally accepted accounting principles (GAAP). Because the
cost of internal controls should not outweigh their benefits, the City’s comprehensive framework of internal
controls has been designed to provide assurance that the financial statements will be free from
misstatement. As management, we assert that, to the best of our knowledge and belief, this financial report
is complete and reliable in all material aspects.
The City’s financial statements have been audited by LSL, LLP, a firm of certified public accountants. The
goal of the independent audit is to provide reasonable assurance that the financial statements of the City for
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 a reasonable basis for rendering
an unmodified opinion that the City’s financial statements for the fiscal year ended June 30, 2025, were fairly
presented in conformity with GAAP. The independent auditor’s report is presented as the first component
of the financial section of this report.
GAAP requires that management provide a narrative introduction, overview, and analysis to accompany
the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of
transmittal is designed to complement and should be read in conjunction with the MD&A. The City’s MD&A
can be found immediately following the report of the independent auditors.
PROFILE OF THE CITY OF DIAMOND BAR
The City of Diamond Bar was incorporated on April 18, 1989, and is located at the eastern edge of
Los Angeles County in the East San Gabriel Valley. Diamond Bar is primarily a residential community of
about 57,000, situated among the meandering hills and valleys of Brea Canyon. Many desired services
can be found in Diamond Bar's shopping and business centers. Recreational opportunities within the City
include more than 75 acres of developed park facilities, hiking trails, a community center, a County-owned
and operated 18-hole public golf course and more than 370 acres of undeveloped publicly owned open
space.
Diamond Bar is also strategically located at the junction of the SR-57 and SR-60 freeways with easy access
to I-10 and SR-71 freeways. This makes Diamond Bar a desirable and convenient location to live and work
within close proximity to Los Angeles, Orange, Riverside and San Bernardino counties.
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Diamond Bar is a General Law city and operates under the council-manager form of government. Policy
making and legislative authority are vested in a five- member City Council. The City Council is responsible,
among other things, for passing ordinances, adopting the budget, appointing Commissioners, and hiring
both the City Manager and contracting for City Attorney services. The Council Members are elected by
districts on a non-partisan basis and serve four-year staggered terms, with elections held every other year.
Each December, the City Council selects a Mayor and Mayor Pro Tem from its membership. The City
Manager is responsible for overseeing the day-to-day operations of the City, and for appointing the heads
of the various departments.
The City of Diamond Bar operates primarily as a “contract city” utilizing agreements with other governmental
agencies, private sector firms and individuals to provide many of its essential services. This includes law
enforcement services, animal services, building and safety services, engineering, road maintenance and
landscape maintenance.
The Los Angeles County Fire District provides fire protection, which is independent of the City. Los Angeles
County also provides library services through a Library District, and sewer and sanitation services through
a Sanitation District. Funds for these services are collected through property tax bills and are disbursed
directly by the Los Angeles County Tax Collector's Office to those entities.
Water services for the City are provided by the Walnut Valley Water District. Refuse collection is provided
by private waste collection companies. Additionally, schools are provided by both the Walnut Valley
Unified School District and the Pomona Unified School District. Accordingly, none of these activities are
included in this report.
ECONOMIC CONDITION AND OUTLOOK
The Adopted FY 2025/26 Budget reflects a more constrained fiscal environment, shaped by cost pressures,
economic uncertainty, and a persistent imbalance between recurring revenues and expenditures. While the
City continues to prioritize core services and targeted investments, the budget reflects a cautious and
disciplined approach to long-term financial commitments. The General Fund is budgeted with a modest
surplus; however, this outcome is largely supported by one-time actions, underscoring the importance of
continued attention to the City’s underlying fiscal structure.
Looking forward, anticipated improvements in broader economic conditions and interest-rate trends may
provide some stabilization to revenues and investment earnings. Through prudent financial planning,
conservative assumptions, and ongoing policy discussions, management remains focused on preserving
the City’s fiscal health and ensuring responsible stewardship of public resources in support of the
community’s long-term prosperity.
Economic Development continues to be an area of priority for the City. Accordingly, the FY 2025/26 Budget
incorporates resources dedicated to continue planning efforts to create a pedestrian-oriented and walkable
Town Center and programs to retain current businesses and attract new businesses that increase the City’s
employment base and generate revenue. In addition, management continues to promote a “Shop Diamond
Bar First, Keep It Local” campaign with a local rewards program to encourage residents to invest in their
community through supporting local businesses.
AWARDS
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 Diamond Bar 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 state
and local financial reports.
In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable
and efficiently organized annual comprehensive financial report (ACFR), with contents that conform to
program standards. The ACFR must satisfy both generally accepted accounting principles and applicable
legal requirements.
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A Certificate of Achievement is valid for a period of one year only. The City of Diamond Bar has received
the Certificate of Achievement for the last thrity consecutive years (fiscal years ended 1995 through 2024).
We believe our current report continues to meet the Certificate of Achievement Program’s requirements
and we will be submitting it to GFOA to determine its eligibility for another certificate.
REPORTING ENTITY AND ITS SERVICES
This Annual Comprehensive Financial Report includes all funds of the City. The City directly provides a
limited range of services and contracts for several other services. The City's significant reliance on
contracted services has the benefit of reducing expenses to the citizens of the City of Diamond Bar while
simultaneously providing the City with a high degree of flexibility in responding to changing economic
conditions.
Contracted services include law enforcement protection, building and safety, street maintenance, park
maintenance, capital improvement projects, animal control, attorney services and engineering. Staff
provided services include: community development (which includes planning, building and safety
administration, and neighborhood improvement), public works (which includes engineering, capital projects
administration, street maintenance contract management, traffic and transportation matters, engineering
contract management, park maintenance, landscape maintenance and solid waste contract management),
parks & recreation (which includes senior services, recreation services, community events and community
center operation), public information, subsidized transit ticket sales, grant administration, financial
management, administrative management, human resources and risk management, information systems
and economic development. All of these activities are included in this report.
INTERNAL CONTROLS
The City of Diamond Bar’s accounting system has been developed by giving consideration to the adequacy
of internal accounting controls. Internal accounting controls are implemented by the City to provide
reasonable assurance that assets are safeguarded against loss from unauthorized use or disposition; and
that the City’s financial records used for preparing financial statements are maintained in a reliable fashion.
The concept of reasonable assurance recognizes that the cost of these controls should not exceed the
benefits derived from them. The City’s internal controls accomplish these objectives.
ACKNOWLEDGEMENTS
The preparation of this Annual Comprehensive Financial Report was made possible by the dedicated
service and excellence found within the City's Finance Department staff, and through the cooperation of
the entire City staff. Each City staff member has my sincere appreciation for their cooperation and
contributions in the preparation of this Report.
I would like to thank Jason Jacobsen, Finance Director, for his prudent fiscal stewardship. In addition, I
would also like to thank our independent auditor, LSL, LLP, who provided expertise and advice in the
preparation of the City's Annual Comprehensive Financial Report.
In closing, without the leadership and support of the City Council of the City of Diamond Bar, the preparation
of this Report would not have been possible.
Sincerely,
Daniel Fox
City Manager
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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Diamond Bar
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2024
Executive Director/CEO
iv
Diamond Bar Residents
City Council
City Attorney City Manager City
Commissions
Information
Systems
Human
Resources & Risk
Management
Finance
Public Safety
Community
Relations City Clerk
Community
Development
Public Works Parks &
Recreation
v
OFFICIALS OF THE CITY OF DIAMOND BAR
As of December 2, 2025
City Council
Steve Tye, Mayor
Ruth M. Low, Mayor Pro Tem
Andrew Chou, Council Member
Stan Liu, Council Member
Chia Yu Teng, Council Member
Administration and Department Heads
City Manager Dan Fox
Assistant City Manager Ryan McLean
City Clerk Kristina Santana
Director of:
Community Development Greg Gubman
Finance Jason Jacobsen
Information Systems Ken Desforges
Parks & Recreation Ryan Wright
Public Works David Liu
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LSLCPAS.COM
INDEPENDENT AUDITORS’ REPORT
To the Honorable Members of the City Council
City of Diamond Bar, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, each major fund, and the
aggregate remaining fund information of the City of Diamond Bar, California, (hereafter, the City) as of and for the
year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the City’s
basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities, each major fund, and the aggregate remaining fund information of
the City as of June 30, 2025, and the respective changes in financial position, and, where applicable, cash flows
thereof, for the year then ended in accordance with accounting principles generally accepted in the United States
of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States. Our responsibilities under those standards are further described in the
Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be
independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical
requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinions.
Emphasis of Matter
Change in Accounting Principle
As described in Note 1 to the financial statements, in 2025, the City adopted new accounting guidance, GASB
Statement No. 101, Compensated Absences. Our opinion is not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States of America, and for the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events,
considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for
twelve months beyond the financial statement date, including any currently known information that may raise
substantial doubt shortly thereafter.
To the Honorable Members of the City Council
City of Diamond Bar, California
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinions.
Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee
that an audit conducted in accordance with generally accepted auditing standards and Government Auditing
Standards will always detect a material misstatement when it exists. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material
if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by
a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards and Government Auditing
Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
and design and perform audit procedures responsive to those risks. Such procedures include examining, on a
test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
City’s internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified
during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion
and analysis, budgetary comparison information, and required pension and other post-employment benefits
schedules as listed on the table of contents be presented to supplement the basic financial statements. Such
information is the responsibility of management and, although not a part of the basic financial statements, is required
by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for
placing the basic financial statements in an appropriate operational, economic, or historical context. We have
applied certain limited procedures to the required supplementary information in accordance with auditing standards
generally accepted in the United States of America, which consisted of inquiries of management about the methods
of preparing the information and comparing the information for consistency with management’s responses to our
inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial
statements. We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
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To the Honorable Members of the City Council
City of Diamond Bar, California
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise
the City’s basic financial statements. The accompanying combining and individual fund financial statements and
schedules (supplementary information) are presented for purposes of additional analysis and are not a required
part of the basic financial statements. Such information is the responsibility of management and was derived from
and relates directly to the underlying accounting and other records used to prepare the basic financial statements.
The information has been subjected to the auditing procedures applied in the audit of the basic financial statements
and certain additional procedures, including comparing and reconciling such information directly to the underlying
accounting and other records used to prepare the basic financial statements or to the basic financial statements
themselves, and other additional procedures in accordance with auditing standards generally accepted in the
United States of America. In our opinion, the supplementary information is fairly stated, in all material respects, in
relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual report. The other information comprises
the introductory and statistical sections but does not include the basic financial statements and our auditors’ report
thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express
an opinion or any form of assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other information and
consider whether a material inconsistency exists between the other information and the basic financial statements,
or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude
that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated January 28, 2026, on
our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain
provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is
solely to describe the scope of our testing of internal control over financial reporting and compliance and the results
of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting
or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering City’s internal control over financial reporting and compliance.
Irvine, California
January 28, 2026
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CITY OF DIAMOND BAR
MANAGEMENT’S DISCUSSION AND ANALYSIS
As management of the City of Diamond Bar, we offer readers this narrative overview and analysis of the
financial activities of the City for the fiscal year ended June 30, 2025. We encourage readers to consider
the information presented here in conjunction with additional information that we have furnished in our letter
of transmittal.
FINANCIAL HIGHLIGHTS
• The total revenues from all sources totaled $47,379,769, an increase of $2.4 million, or 5.4%, from
the prior year. This increase is due mainly to the City’s receipt of donated land, Stevens Field
(baseball facilities), and substantive one-time State grants for capital improvements to City parks
(Maple Hill Park and Pantera Park), and investment income, offset by reductions in sales tax
revenues and charges for service.
• The total cost of all City programs totaled $43,377,788, an increase of $3.4 million, or 8.5%, from
the prior year. This increase in costs is due mainly to rising inflation affecting general government
services, public safety programs and capital projects, offset by reductions in park & recreation
spending.
• The assets and deferred outflows of the City of Diamond Bar exceeded its liabilities and deferred
inflows at the close of the fiscal year by $401,888,912 (net position), an increase of $2.2 million
from the prior year. Of this amount, $30,636,281 represents unrestricted net position that may be
used to meet the City’s ongoing obligations to citizens and creditors.
• As of the close of the current fiscal year, the City of Diamond Bar’s governmental funds reported
combined ending fund balances of $61,569,912, a decrease of $4.4 million in comparison with the
prior year, or 6.7%. Approximately $32.5 million of the $61.6 million is unrestricted and available
for spending at the City’s discretion, including amounts assigned and committed by city council
action.
• At the end of the current fiscal year, the Unassigned Fund Balance of the General Fund was
$23,084,596 which represents an increase of $1.4 million from the prior year amount of
$21,674,550. The Unassigned Fund Balance is in addition to an $8,071,538 reserve for
emergencies/contingencies as established by Council resolution and $1,128,611 committed to
capital projects for parks and facilities. The increase in General Fund Unassigned Fund Balance
was mainly due to transferring funds from these two reserves, in addition to unrealized gains
(inclusive of amortized discounts) from the City’s investment portfolio of approximately $1.4 million.
Unrealized gains would be realized were the portfolio liquidated at current market valuations as of
June 30, 2025, and fluctuate with interest rates.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis are intended to serve as an introduction to the City of Diamond Bar’s basic
financial statements. The City of Diamond Bar’s basic financial statements comprise three components: 1)
government-wide financial statements, 2) fund financial statements, and 3) notes to basic financial
statements. This report also contains other supplementary information in addition to the basic financial
statements themselves.
Government–wide Financial Statements. The government-wide financial statements are designed to
provide readers with a broad overview of the City of Diamond Bar’s finances, in a manner similar to a
private-sector business. These statements include the statement of net position and the statement of
activities.
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The statement of net position presents financial information on all of the City of Diamond Bar’s assets,
liabilities and deferred inflows/outflows of resources with the difference reported as net position. Over time,
increases or decreases in net position may serve as a useful indicator of whether the financial position of
the City of Diamond Bar is improving or deteriorating.
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. Thus, revenues and expenses are
reported in this statement for some items that will only result in cash flows in future fiscal periods
(e.g., uncollected taxes and earned but unused vacation leave).
Both of the government-wide financial statements distinguish functions of the City of Diamond Bar that are
principally supported by taxes and intergovernmental revenues (governmental activities) from other
functions that are intended to recover all or a significant portion of their costs through user fees and charges
(business-type activities). The governmental activities of the City of Diamond Bar include general
government, public safety, highways and streets, community development, and parks and recreation. The
City of Diamond Bar currently has no business-type activities or enterprise funds.
The government-wide financial statements include not only the City of Diamond Bar itself, but also a legally
separate financing authority. Although legally separate, the Diamond Bar Public Financing Authority is
included because the City is financially accountable for it.
Fund Financial 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 of Diamond Bar, like
other state and local governments, uses fund accounting to ensure and demonstrate compliance with
finance-related legal requirements. All of the funds of the City can be divided into three categories:
governmental funds, proprietary funds and fiduciary funds.
Governmental Funds – Governmental funds are used to account for essentially the same functions reported
as governmental activities in the government-wide financial statements. However, unlike the government-
wide financial statements, governmental fund financial statements focus on near-term inflows and outflows
of spendable resources available at the end of the fiscal year. Such information may be useful in assessing
the near-term financing requirements necessary to finance City programs. A reconciliation to facilitate a
comparison between governmental funds and governmental activities is located on page 23 of the financial
statements.
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 impacts of the City’s near-term financing decisions. The governmental
funds balance sheet can be found on page 22 of the financial statements, and the governmental funds
statement of revenues, expenditures, and changes in fund balances can be found on page 24 of the
financial statements.
The City of Diamond Bar adopts an annual appropriated budget for its general fund. A budgetary
comparison statement has been provided for the general fund to demonstrate compliance with this budget
on page 61.
Proprietary Funds – The type of proprietary funds that the City maintains are internal service funds that are
used to allocate costs internally among the various functions of the City. The City of Diamond Bar uses
these funds to account for its liability insurance costs and vehicle, building and computer maintenance and
replacement costs. Because these services predominantly benefit governmental rather than business-type
functions, they have been included within governmental activities within the government-wide financial
statements.
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Notes to Basic Financial Statements. The notes provide additional information that is essential to a full
understanding of the data provided in the government-wide and fund financial statements.
Other Information. In addition to the basic financial statements and accompanying notes, this report also
presents certain required supplementary information concerning the City’s budgetary control and
accounting and expenditures in excess of appropriations.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
City-wide Statement of Net Position. The Statement of Net Position is intended to measure an agency’s
financial health at the end of the fiscal year. The “net position” is the net of the agency’s total assets and its
total liabilities. At June 30, 2025, the City of Diamond Bar’s net position (total assets and deferred outflows,
less total liabilities and deferred inflows) was $401,888,912 (see Table 1 below).
By far the largest portion of the City’s net position (86%) is its investment in capital assets in the amount of
$347,121,148 (e.g., land, buildings, infrastructure, machinery, equipment, and construction in progress).
The City of Diamond Bar uses these capital assets to provide services to its citizens; consequently, these
assets are not available for future spending. Although the City’s investment in its capital assets is also
reported net of outstanding related debt used to acquire those assets, it should be noted that the resources
needed to repay this debt must be provided from other sources, since the capital assets themselves cannot
be used to liquidate these liabilities. As shown in Table 1 below, the City’s net investment in capital
assets is $341,243,748 which represents an increase of approximately $10.1 million from the prior year.
This increase is a result of additional investments in capital assets (net of adjustments and deletions), less
depreciation expense, plus a year-over-year decrease in outstanding debt (e.g. outstanding bonds payable)
used to finance the capital assets (see note 5 Capital Assets for more information).
The City’s total liabilities are $24,813,854 which is a decrease of $2.9 million due largely to decreases in
accounts payable in the amount of $3.4 million offset by various smaller increases. The City’s restricted
net position decreased by $1.9 million from last year. This is mostly attributable to the expenditure of
monies restricted for highways and streets accounted for in the City’s special revenue funds. These funds
are accumulated to fund large capital projects and, once appropriated, can take several years to fully
expend.
7
Table 1
CITY OF DIAMOND BAR
Statement of Net Position
The unrestricted portion of the total net position represents those funds the City can use at its sole
discretion. This portion is often looked at when evaluating a city’s financial health. The unrestricted net
position decreased by $6.0 million due mainly to the utilization of accumulated reserves for investment in
capital projects related to parks and facilities, as well as investments made for computer hardware and
software. For context, the unrestricted reserve increased by $2.8 million the prior year.
Governmental Activities and Changes in Net Position. Although the Statement of Net Position
discussed above is an important measure of financial health, it is only at a specific point in time. A more
useful measure is how the City’s financial position is changing over time. Table 2 below present a summary
of the City’s change in net position from the prior year, and the specific revenue and expenditure activities
that caused the change.
2025 2024
Current and other assets 79,028,015$ 85,269,535$
Capital assets 347,121,148 340,729,351
Total Assets 426,149,163 425,998,886
Deferred Outflows 3,316,289 4,193,212
Current liabilities 8,644,886 10,968,947
Noncurrent liabilities 16,168,968 16,723,771
Total Liabilities 24,813,854 27,692,718
Deferred Inflows 2,762,686 2,790,892
Net Position:
Net investment in capital assets 341,243,748 331,125,815
Restricted 30,008,883 31,951,118
Unrestricted 30,636,281 36,631,555
Total Net Position 401,888,912$ 399,708,488$
Governmental Activities
8
Table 2
CITY OF DIAMOND BAR
Changes in Net Position
Overall, the City ended the year with a $2.2 million increase to its net position, compared to an increase of
$5.0 million the prior year. Many of the reasons leading to these results have already been discussed, but
some of the more notable factors are discussed below.
2025 2024
Revenues:
Program Revenues:
Charges for services 7,978,867$ 8,138,692$
Operating grants and contributions 7,464,489 7,570,259
Capital grants and contributions 1,343,630 96,569
General Revenues:
Property taxes 14,183,765 13,963,044
Transient occupancy taxes 1,508,775 1,499,045
Sales taxes 6,122,363 6,467,915
Franchise fees 1,533,521 1,628,505
Other taxes 1,605,277 1,620,453
Motor vehicle in lieu 86,648 67,901
Use of money & property 4,538,053 3,880,104
Other 1,014,381 22,131
Total Revenues 47,379,769 44,954,618
Expenses
General government 9,485,437 8,332,738
Public safety 9,285,498 8,783,229
Community development 4,169,755 3,830,323
Parks & recreation 3,695,039 4,258,559
Public works 16,617,796 14,661,974
Interest and fiscal charges 124,263 126,654
Total Expenses 43,377,788 39,993,477
Increase (Decrease) in net position 4,001,981 4,961,141
Net position - beginning 399,708,488 394,747,347
Restatement Adjustments (1,821,557)
Net Position - ending 401,888,912$ 399,708,488$
Governmental Activities
9
Governmental Revenues. As show in Table 2 above, total
revenues for all governmental activities were $47,379,769. This is
approximately $2.4 million, or 5.4%, higher than the prior year.
Revenues were supported by a significant increase of $1.2 million
in capital grants and contributions due to large state grants utilized
for capital projects, plus approximately $1.0 million in land
donations (Stevens Field) and an increases in investment earnings
in the amount of $400 thousand. These increases were offset by a
notable decrease in sales taxes in the amount of $345 thousand.
As mentioned, revenues from the use of money & property demonstrated some improvement, ending the
year with $4.5 million. Total revenue from the use of money and property reflects one-time increase from
cell tower lease revenues, plus total investment earnings of $2.9 million. In addition, non-cash adjustments
were made for unrealized gains (inclusive of discount amortizations) in the amount of $1.4 million.
Unrealized gains would only be realized were the portfolio liquidated at current market valuations as of
June 30, 2025, and fluctuate with interest rates.
Fiscal
Year Amount Growth
2020 5,252,375 5.7%
2021 5,106,920 -2.8%
2022 6,127,592 20.0%
2023 6,598,953 7.7%
2024 6,467,915 -2.0%
2025 6,122,363 -5.3%
Sales Tax Revenues
10
Governmental Expenses
The FY 2024/25 budget was developed with the intention of holding steady programs and services across
the organization with continued investment in city infrastructure, programming and personnel. As such, the
adopted budget and actual expenditures were higher in FY 2024/25 than in FY 2023/24. Specifically, the
adopted FY 2024/25 General Fund operating budget totaled $32.9 million compared to the FY 2023/24
revised budget of $31.9 million (excluding sub-funds). The adopted government-wide budget (exclusive of
transfers) for FY 2024/25 totaled $53.3 million, while the FY 2023/24 budget was $49.2 million, reflecting
increased investment in public works programs ($1.0 million), computer infrastructure ($600 thousand) and
general government services ($325 thousand).
In addition to expanding programs and services, the City also increased appropriations to its Adopted
FY 2024/25 Capital Improvement Program by $2.0 million for improvements to street infrastructure as well
as to advance deferred maintenance for stormwater infrastructure and parks. The FY 2024/25 Revised
Capital Improvement Program totaled $27.8 million (inclusive of carryovers from the prior year), while the
FY 2023/24 Revised Capital Improvement Program totaled $22.6 million (inclusive of carryovers from the
prior year). While not all of the budget is expended within each year of appropriation, and much of the
funding comes from restricted revenues and grants, the growth nonetheless helps explain the increases in
Property Taxes
$14,183,765
29.9%
Transient occupancy taxes
$1,508,775
3.2%
Sales Taxes
$6,122,363
12.9%
Franchise Fees
$1,533,521
3.2%
Other taxes
$1,605,277
3.4%Motor vehicle in lieu
$86,648
0.2%
Use of money &
property
$4,538,053
9.6%
Charges for services
$7,978,867
16.8%
Operating cont. &
grants
$7,464,489
15.8%
Captial grants & contr.
$1,343,630
2.8%
Other
$1,014,381
2.1%
City of Diamond Bar Governmental Activities
Revenues by Source
(% of Total Revenues)
$47.4 million
11
the overall spending that occurred generally throughout all categories, most notably public works
expenditures which totaled $16.6 million as compared to $14.7 million the prior year (see Table 2 above).
This increase was mainly due to the exchange of restricted Proposition A revenues ($1.3 million) for
unrestricted General Fund revenues ($1.0 million) subsequently dedicated to city parks. In addition, general
government expenses increased by $1.2 million due to increases to contract services, increased
investment in computer infrastructure (previously mentioned), and normal cost of living adjustments along
with natural salary grade progressions for city employees. In addition, public safety expenses increased
$502 thousand due to contract adjustments with the Los Angeles Sheriff’s Department. These increases
were offset by a reduction of $564 thousand in parks and recreation expenses mainly due to the elimination
of the capital expense related to the capitalization/acquisition of the Stevens Field property in the amount
of $925 thousand.
City Reserves
In 2011 the City Council adopted Resolution No. 2011-26 establishing policies related to fund balance and
reserves. These policies were amended in August of 2019 with the adoption of Resolution No. 2019-36. In
general, reserves are intended to serve a variety of goals and purposes. One of the key reserves set forth
in the City’s reserve policies is for emergencies, such as natural disasters (earthquakes, flooding, wildfires,
etc.), or unexpected events and circumstances that impact the City’s finances. The recent global pandemic
is an excellent example of this. Another purpose of reserves is to set aside funds for the replacement of
equipment, vehicles, facilities, and other capital needs. The accumulation of such funds over time minimizes
the financial burden and impacts of funding these types of capital items, which often are very expensive, in
a single year.
12
The degree to which a city has set aside reserves for the purposes noted above is an important measure
of a city’s financial health. To that end, the City’s reserve policies establish the following reserves:
1. Contingency Reserve – No less than 25% of the adopted budget General Fund expenditures to
provide for economic uncertainties, local emergencies or disasters, and other financial hardships
or downturns in the local economy, including unforeseen operating or capital needs and cash flow
requirements.
2. Other Post-Employment Benefit (OPEB) Reserve Fund – To cover the projected cost of future
retiree benefits, the City will maintain a reserve so that the combined amount of the reserve and
funds held in an OPEB trust are no less than 80% of the total OPEB liability based on the most
recent actuarial valuation.
3. Building Facility and Maintenance Fund – The City will make annual contributions to this fund
from the General Fund of no less than $100,000 to provide for the future replacement of systems
and equipment at City Hall, the Diamond Bar Center, and other City buildings and facilities. In
addition, the City will transfer 40% of the General Fund year-end surplus after funding the other
reserves described in this section.
4. Vehicle Maintenance and Replacement Fund – To provide funding for the timely replacement of
vehicles and related equipment with an individual cost of $10,000 or more, the City will annually
make a contribution from its General Fund to the Vehicle Maintenance and Replacement Fund
equal to its estimated operating costs plus depreciation net of any interest earnings and proceeds
from the sale of assets.
5. Technology Reserve Fund – The City will maintain a technology reserve fund to accumulate funds
for the replacement of essential technology systems and equipment. The annual contribution from
the General Fund will be no less than $100,000.
6. Park Development Fund – This fund provides for the development and enhancement of the City’s
parks and facilities. The City will transfer 40% of the General Fund year-end surplus after funding
the other reserves described in this section.
The aforementioned reserves with amounts are listed below in Table 3 along with other highlighted
reserves.
See note 11 Classification of Fund Balance for more information.
13
Table 3
CITY OF DIAMOND BAR
Changes in Key Reserves
Total key reserves, as shown in Table 3 above, decreased in marginally by $73,460 (or 0.7%) to a total of
$41,293,349. The General Fund Unassigned Reserve increased $1.3 million due mainly to shifting reserve
balances from the Capital Improvement Projects and the Contingency Reserve. The change in the General
Fund reserves are discussed further on the next page. The Technology and General Plan Update Reserves
decreased $652 thousand in aggregate due to ongoing projects, namely the upgrade of the City’s Land
Management System and the development of the Downtown Specific Plan.
It is important to note that other funds listed here as key reserves (e.g. Park Development Fund, Building
Maintenance & Replacement Fund) ultimately derive their resources from the General Fund, either from
the allocation of year-end surpluses or annual contributions pursuant to the reserve policies summarized
earlier, or through other allocations approved by City Council.
FUND FINANCIAL ANALYSIS
As noted earlier the City of Diamond Bar uses fund accounting to ensure and demonstrate compliance with
finance-related legal requirements. These are presented starting on page 22 of the financial statements.
Governmental funds - The focus of the City of Diamond Bar’s governmental funds is to provide information
on near-term inflows, outflows, and balances of spendable resources. Such information is useful in
assessing the City’s financing requirements. In particular, unassigned fund balance may serve as a useful
measure of a city’s net resources available for spending at the end of the fiscal year.
2025 2024 Change
General Fund
Committed Reserves
Contingency Reserve 8,071,538$ 8,217,405$ (145,867)$
Assigned Reserves
Community organization support 2,062 2,062
OPEB Reserve 259,359 313,523 (54,164)
Technology Reserve 172,255 695,389 (523,134)
Capital Improvement Projects 1,128,611 2,072,420 (943,809)
Tres Hermanos Conservancy Reserve 6,923 6,910 13
General Plan Update Reserve 325,212 453,782 (128,570)
Law Enforcement Reserve 1,323,656 1,066,070 257,586
Unassigned Reserve (Restated 2024)23,084,596 21,802,876 1,281,720
Total General Fund 34,374,212 34,630,437 (256,225)
Park Development Fund
Unrestricted Reserve 2,594,022 2,535,198 58,824
Vehicle Maintenance & Replacement Fund
Unrestricted Reserve 558,986 381,674 177,312
Building Maintenance & Replacement Fund
Unrestricted Reserve 2,346,104 2,278,047 68,057
Computer Equipment Replacement Fund
Unrestricted Reserve 1,420,025 1,541,453 (121,428)
Grand Totals 41,293,349$ 41,366,809$ (73,460)$
Fiscal Year Ended June 30,
14
At June 30, 2025, the City of Diamond Bar’s governmental funds reported combined ending fund balances
of $61,569,912, a decrease of $4.4 million in comparison with the prior year. Of this amount, $21,167,195
or 34.4%, constitutes unassigned fund balances which are available for spending at the government’s
discretion. The remainder of the fund balances are either restricted for particular purposes, committed to
contingencies per City policy ($8,071,538), or assigned to a specific purpose. The balance sheet for
governmental funds is presented on page 22 of the financial statements.
The General Fund, which is included as a governmental fund, is the main operating fund of the City. It is
where most traditional services associated with local government, including public safety, recreation,
development services, economic development, and public works. The services are funded primarily from
unrestricted tax revenues, such as taxes and charges for services. At the end of the 2024/25 fiscal year,
the General Fund total fund balance decreased by $254 thousand (including sub-funds) to $34.4 million.
The adverse factors leading to this decrease can be explained by a slight decrease in General Fund
revenues of $522 thousand as well as transfers-in of $513 thousand, plus an increase in expenditures of
$1.9 million. These were offset by a favorable decrease in transfers-out (used to fund capital projects,
information systems infrastructure and reserve funding) in the amount of $2.7 million (see Statement of
Revenues, Expenditures, and Changes in Fund Balances on page 24 for more information). A budget-to-
actuals comparison for the General Fund is available within the Required Supplementary Information found
on page 61.
As a measure of the General Fund’s liquidity, it may be useful to compare both Unassigned Reserve
balance and total fund balance to total fund expenditures. Unassigned fund balance of $23.1 million
represents 71% of total General Fund expenditures, including transfers-out, an increase from the prior year
ratio of 65%, and the total fund balance of $34.4 million represents 105% of total General Fund
expenditures, and increase from the prior year amount of 106%.
The Traffic Improvement Fund is used to account for funds which have been received from development
projects and designated by the City Council for traffic mitigation projects. Total revenues for FY 2024/25
were $486 thousand and there were no expenditures. As a result, the ending fund balance for the Traffic
Improvement Fund increased by $486 thousand.
The Capital Improvement Fund (CIP Fund) is used to account for major capital projects included in the
City’s annual Capital Improvement Program. Historically, the City has used the CIP Fund as a centralized
cost center for all capital projects, with resources transferred in from the General Fund and various special
revenue funds to support project expenditures.
Beginning in FY 2024/25, the City revised this approach to simplify CIP accounting and improve
transparency. Under the new structure, only capital projects funded by one-time grants and the General
Fund are accounted for in the CIP Fund. Capital projects funded by other dedicated revenue sources are
now recorded directly within their respective funds.
Total expenditures for FY 2024/25 were $12.8 million, an increase from the prior year amount of $8.2 million.
Total revenues and transfers-in were $11.4 million, an increase from the prior year amount of $8.2 million.
As a result, the ending fund balance for the Capital Improvement fund decreased by $1.4 million which will
be offset in future years as grants are reimbursed.
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital assets - The City of Diamond Bar’s investment in capital assets for its governmental activities as
of June 30, 2025 amounts to $347,121,148 (net of accumulated depreciation). This investment in capital
assets includes land, right of way, buildings and improvements, furniture and fixtures, vehicles and
equipment, infrastructure and construction in progress.
15
Table 4
CITY OF DIAMOND BAR
Capital Assets (net of depreciation)
The City’s capital assets increased in value by $6.4 million during the fiscal year. This increase was mainly
due to $4.2 million in new infrastructure assets, $1.3 million in new building improvements and
$925 thousand in new land donated to the City (Stevens Field).
Construction in progress at the end of the year included projects in various stages of design or construction.
Virtually all of the $5.2 million of construction in progress relates to streets improvement projects, including
both residential and arterial roadways.
See note 5 Capital Assets for more information.
Long-term debt – At the end of the current fiscal year, the City of Diamond Bar’s total long-term debt
totaled $7,062,252, which includes outstanding bonds payable and accrued compensated absences as
shown in Table 5 below.
Table 5
CITY OF DIAMOND BAR
Outstanding Long-Term Debt
At June 30, 2025
In June 2021 the City issued the 2021 Lease Revenue Refunding Bonds to refinance the 2002 Lease
Revenue Bonds. The 2002 bonds were originally issued to finance the construction of a community/senior
center (the Diamond Bar Center) and other public improvements. The refunding, which capitalizes on
historically low interest rates, will result in a savings of $1,736,355 over the remaining life of the bonds.
2025 2024
Land 7,294,823$ 6,369,509$
Right of way 265,614,104 265,614,104
Intangible assets 539,817 616,933
Buildings and improvements 8,397,606 7,050,526
Vehicles & equipment 844,276 784,733
Infrastructure 59,278,093 55,107,646
Constuction in progress 5,152,429 5,185,900
Totals 347,121,148$ 340,729,351$
Fiscal Year Ended June 30,
Fixed Rate 2021 Lease Revenue Refunding Bonds
Bonds Payable (backed by the Public Financing Authority)5,689,395$
Compensated Absences 1,372,857
Total 7,062,252$
16
In addition to the bonds, City of Diamond Bar employees have accrued leave time (sick and vacation)
totaling $1,372,857 as of June 30, 2025. This liability is primarily paid out as time off or the use of sick time
and to this extent does not result in an increase in costs.
See note 6 Long-Term Liabilities for more information on long-term debt.
ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES
Compared to FY 2024/25, the Adopted FY 2025/26 Budget Operating Budget reflects a more challenging
fiscal environment, characterized by a structural deficit and a weakening economic outlook. While the
budget maintains funding for essential City programs and services, and includes limited investments in
maintenance and capital improvements, the City must adopt a measured approach to long-term planning
and financial commitments. Management remains cautious and conservative this budget cycle, recognizing
ongoing pressures from escalating contract costs, rising labor, material and operating expenses, higher
energy and fuel prices, and broader economic uncertainty portend a bumpy road ahead for the City, and
possibly a wider economic slowdown for the State and broader economy.
Whereas the FY 2024/25 Adopted Budget contained a modest budgeted operating deficit of $145 thousand,
primarily attributed to the use of one-time reserves for one-time costs, the Adopted FY 2025/26 Budget
projects a General Fund surplus of $49 thousand. Notably, this surplus is largely dependent on a one-time
37% reduction in Transfers Out, highlighting a recurring structural imbalance that, if left unresolved, will
result in continued structural deficits.
A structural deficit occurs when a municipality’s ongoing (recurring) revenues are insufficient to fund its
ongoing expenditures under normal (status quo) economic conditions. Unlike one-time or cyclical shortfalls,
structural deficits require deliberate policy actions, such as revenue enhancements, expenditure
adjustments, or service delivery reforms, to eliminate the underlying gap.
In response, management has taken a proactive approach by updating the City’s ten-year financial forecast,
implementing additional revenue initiatives (including comprehensive user-fee updates), and planning
additional community budget workshops with the City Council to evaluate and implement corrective
strategies. Importantly, the FY 2025-26 Adopted Budget implements the various objectives and priorities of
the City Council guided by the adopted FY 2024-2027 Strategic Plan.
Looking ahead, the Federal Reserve is anticipated to continue interest-rate reductions into 2026, which
may help support consumer spending and economic growth. These conditions could stabilize the softening
sales-tax revenues projected for FY 2025/26 and enhance returns on the City’s investment portfolio.
The proactive actions taken by management, combined with prudent fiscal policies and disciplined financial
planning, position the City to strengthen its financial condition over the long term. As a result, the City
continues to serve as a beacon of economic strength within the region. Management believes the
accompanying financial statements reflect this commitment to sound stewardship and the continued
well-being and prosperity of the Diamond Bar community.
CONTACTING THE CITY’S FINANCIAL MANAGEMENT TEAM
This financial report is designed to provide our residents, taxpayers, customers, and creditors with a general
overview of the City of Diamond Bar’s finances and to show the City’s accountability for the money it
receives. If you have questions about this report or need additional financial information, contact the City’s
Finance Department, at the City of Diamond Bar, 21810 Copley Drive, Diamond Bar, California 91765.
17
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18
CITY OF DIAMOND BAR, CALIFORNIA
Statement of Net Position
Governmental
Activities
ASSETS
Cash and investments 71,232,721$
Receivables:
Accounts 2,373,092
Taxes 157,752
Accrued interest 423,882
Due from other governments 1,158,549
Notes and loans 607,416
Leases 2,463,045
Restricted assets:
Cash with fiscal agent 1,466
Prepaid costs 610,092
Capital assets (not being depreciated/amortized)278,061,356
Capital assets (net of accumulated depreciation/amortization)69,059,792
Total assets 426,149,163
DEFERRED OUTFLOWS OF RESOURCES
Pension-related 3,194,736
OPEB-related 121,553
Total deferred outflows of resources 3,316,289
LIABILITIES
Accounts payable 3,790,985
Due to other governments 607,416
Accrued liabilities 693,251
Retainage payable 171,905
Accrued interest 16,100
Deposits payable 2,542,417
Unearned revenue 822,812
Noncurrent liabilities:
Due within one year:
Compensated absences 350,000
Bonds payable 530,000
Due in more than one year:
Net pension liability 8,708,162
Net OPEB liability 398,554
Compensated absences 1,022,857
Bonds payable 5,159,395
Total liabilities 24,813,854
DEFERRED INFLOWS OF RESOURCES
Pension-related 150,427
OPEB-related 300,953
Lease-related 2,311,306
Total deferred inflows of resources 2,762,686
NET POSITION
Net investment in capital assets 341,243,748
Restricted:
Community development projects 6,819,247
Public safety 479,491
Public works 20,192,771
Capital projects 2,517,374
Unrestricted 30,636,281
Total net position 401,888,912$
June 30, 2025
See Notes to Financial Statements.19
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20
CITY OF DIAMOND BAR, CALIFORNIA
Statement of Activities
For the Year Ended June 30, 2025
Net (Expenses)
Revenues and
Changes in Net
Position
Operating Capital
Charges for Contributions Contributions Governmental
Expenses Services and Grants and Grants Activities
Functions/Programs:
Primary government:
Governmental activities:
General government 9,485,437$ 177,033$ 151,590$ -$ (9,156,814)$
Public safety 9,285,498 356,821 194,663 - (8,734,014)
Community development 4,169,755 2,928,905 437,319 688,013 (115,518)
Parks & recreation 3,695,039 1,464,799 1,000,000 440,709 (789,531)
Public works 16,617,796 3,051,309 5,680,917 214,908 (7,670,662)
Interest on long-term debt 124,263 - - - (124,263)
Total governmental activities 43,377,788$ 7,978,867$ 7,464,489$ 1,343,630$ (26,590,802)
General revenues:
General revenues:
Property taxes 14,183,765
Sales taxes 6,122,363
Transient occupancy taxes 1,508,775
Franchise taxes 1,533,521
Other taxes 1,605,277
Motor vehicle in lieu - unrestricted 86,648
Use of money and property 4,538,053
Other 1,014,381
Total general revenues 30,592,783
Change in net position 4,001,981
Net position-beginning 399,708,488
Restatement-correction of error (1,577,735)
Restatement-change in accounting principle (243,822)
Net position-beginning, as restated 397,886,931
Net position-ending 401,888,912$
Program Revenues
See Notes to Financial Statements.21
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22
CITY OF DIAMOND BAR, CALIFORNIA
Balance Sheet
Governmental Funds
June 30, 2025
Special
Revenue Funds
Capital Projects
Funds
Total Total
Nonmajor Governmental
General Funds Funds
ASSETS
Pooled cash and investments 37,243,151$ 8,791,949$ 13,700$ 20,187,694$ 66,236,494$
Receivables:
Accounts 1,539,248 - - 833,844 2,373,092
Taxes - - - 157,752 157,752
Accrued interest 423,882 - - - 423,882
Notes and loans - - - 607,416 607,416
Lease receivables 2,463,045 - - - 2,463,045
Due from other governments - - 1,130,203 - 1,130,203
Prepaid costs 49,308 - - - 49,308
Due from other funds 1,366,281 - - - 1,366,281
Restricted assets:
Cash and investments with fiscal agents - - - 1,466 1,466
Total assets 43,084,915$ 8,791,949$ 1,143,903$ 21,788,172$ 74,808,939$
LIABILITIES
Accounts payable 2,477,934$ -$ 383,068$ 725,964$ 3,586,966$
Accrued liabilities 623,222 - - 70,029 693,251
Retainage payable 2,591 - 156,928 7,916 167,435
Unearned revenues 742,293 - - 80,519 822,812
Deposits payable 2,542,417 - - - 2,542,417
Due to other governments - - - 607,416 607,416
Due to other funds - - 1,248,214 118,067 1,366,281
Total liabilities 6,388,457 - 1,788,210 1,609,911 9,786,578
DEFERRED INFLOWS OF RESOURCES
Deferred inflows lease related 2,311,306 - - - 2,311,306
Unavailable revenues 10,940 - 1,130,203 - 1,141,143
Total deferred inflows of resources 2,322,246 - 1,130,203 - 3,452,449
FUND BALANCES (DEFICITS)
Restricted for:
Community development projects - - - 6,138,386 6,138,386
Public safety - - - 479,491 479,491
Highways and streets - 8,791,949 - 11,185,901 19,977,850
Capital Projects - - - 2,517,374 2,517,374
Committed to:
Emergency contingencies 8,071,538 - - - 8,071,538
Assigned to:
Other Post Employment Benefits (OPEB)259,359 - - - 259,359
Technology Reserve 172,255 - - - 172,255
Capital Improvement Projects 1,128,611 - - - 1,128,611
Tres Hermanos Conservancy 6,923 - - - 6,923
General Plan Update 325,212 - - - 325,212
Community Organization Report 2,062 - - - 2,062
Law Enforcement Reserve 1,323,656 - - - 1,323,656
Unassigned 23,084,596 - (1,774,510) (142,891) 21,167,195
Total fund balances (deficits)34,374,212 8,791,949 (1,774,510) 20,178,261 61,569,912
Total liabilities, deferred inflows of resources,
and fund balances (deficits)43,084,915$ 8,791,949$ 1,143,903$ 21,788,172$ 74,808,939$
Traffic
Improvement
Capital
Improvement
See Notes to Financial Statements. 23
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Position
June 30, 2025
Amounts reported for governmental activities in the Statement of Net Position are different because:
Total fund balances - governmental funds 61,569,912$
345,334,169
Deferred outflows-pension related 3,194,736$
Deferred outflows-OPEB related 121,553
Deferred inflows-pension related (150,427)
Deferred inflows-OPEB related (300,953)
Total deferred outflows and inflows related to postemployment benefits 2,864,909
Long-term receivables 1,141,143
Total other long-term assets 1,141,143
7,163,847
Bonds payable (4,830,000)
Compensated absences (1,372,857)
Accrued interest payable on long-term debt (16,100)
Net pension liability (8,708,162)
Net OPEB liability (398,554)
Total long-term liabilities (15,325,673)
Bond premiums (859,395)
Total premiums (859,395)
Net position of governmental activities 401,888,912$
Long-term liabilities that are not due and payable in the current period,and therefore, are not
reported in the funds.
Governmental funds report the effect of premiums when debt is first issued, whereas, these
amounts are deferred and amortized in the Statement of Activities.
CITY OF DIAMOND BAR, CALIFORNIA
Capital assets,net of accumulated depreciation/amortization, used in governmental activities
are not financial resources and, therefore, are not reported in the funds.
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.
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.
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.
See Notes to Financial Statements.24
CITY OF DIAMOND BAR, CALIFORNIA
Statement of Revenues, Expenditures, and Changes in Fund Balances
Governmental Funds
For the Year Ended June 30, 2025
Special
Revenue
Funds
Capital
Projects
Funds
Total Total
Nonmajor Governmental
General Funds Funds
REVENUES
Taxes 15,795,706$ -$ -$ 1,329,249$ 17,124,955$
Licenses and permits 1,222,775 - - 130,636 1,353,411
Intergovernmental 8,079,884 - - 10,263,343 18,343,227
Charges for services 2,602,549 - - 965,642 3,568,191
Use of money and property 2,530,420 485,749 41,171 1,210,045 4,267,385
Fines and forfeitures 356,821 - - - 356,821
Miscellaneous 38,837 - - 975,544 1,014,381
Total revenues 30,626,992 485,749 41,171 14,874,459 46,028,371
EXPENDITURES
Current:
General government 7,983,241 - - 60,660 8,043,901
Public safety 9,129,361 - - 4,800 9,134,161
Community development 3,171,594 - - 1,014,735 4,186,329
Parks and recreation 2,437,812 - - 62,245 2,500,057
Public works 5,897,928 - - 4,449,305 10,347,233
Capital outlay - - 12,759,824 1,091,883 13,851,707
Debt service:
Principal retirement - - - 505,000 505,000
Interest and fiscal charges - - - 232,500 232,500
Total expenditures 28,619,936 - 12,759,824 7,421,128 48,800,888
Excess (deficiency) of revenues
over (under) expenditures 2,007,056 485,749 (12,718,653) 7,453,331 (2,772,517)
OTHER FINANCING SOURCES (USES)
Transfers in 1,448,849 - 11,359,263 823,927 13,632,039
Transfers out (3,710,068) - - (11,673,751) (15,383,819)
Total other financing sources (uses)(2,261,219) - 11,359,263 (10,849,824) (1,751,780)
Net change in fund balances (254,163) 485,749 (1,359,390) (3,396,493) (4,524,297)
Fund balances (deficit)-beginning 34,500,049 8,306,200 (415,120) 23,574,754 65,965,883
Restatements-correction of error 128,326 - - - 128,326
Fund balances (deficit)-beginning, as restated 34,628,375 8,306,200 (415,120) 23,574,754 66,094,209
Fund balances (deficit)-ending 34,374,212$ 8,791,949$ (1,774,510)$ 20,178,261$ 61,569,912$
Traffic
Improvement
Capital
Improvement
See Notes to Financial Statements. 25
Reconciliation of the Statement of Revenues, Expenses and Changes in
Fund Balances of Governmental Funds to the Statement of Activities
For the Year Ended June 30, 2025
Amounts reported for governmental activities in the Statement of Activities are different because:
Net change in fund balances - total governmental funds:(4,524,297)$
Capital outlay 13,122,833$
Depreciation/amortization expense (7,069,869)
Total adjustment 6,052,964
Earned but unavailable grant revenues 1,080,730
Total adjustment 1,080,730
Donations of capital assets 925,314
Loss/(gain) on disposal of capital assets (60,677)
Total adjustment 864,637
Amortization of bond premiums and discounts 107,425
Principal payments 505,000
Total adjustment 612,425
609,813
Accrued interest on long-term debt 812
Compensated absences (83,714)
Changes in pension liabilities and related deferred outflows and inflows of resources (627,035)
Changes in OPEB liabilities and related deferred outflows and inflows of resources 15,646
Total adjustment (694,291)
Change in net position of governmental activities 4,001,981$
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.
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.
CITY OF DIAMOND BAR, CALIFORNIA
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.
Revenues in the Statement of Activities that do not provide current financial resources are not
reported as revenues in the funds.
The net effect of various miscellaneous transactions involving capital assets (i.e., sales, trade-
ins, and donations) is to increase/(decrease) net position.
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.
See Notes to Financial Statements.26
CITY OF DIAMOND BAR, CALIFORNIA
Statement of Net Position
Proprietary Funds
June 30, 2025
Governmental
Activities
Internal
Service Funds
ASSETS
Current:
Pooled cash and investments 4,996,227$
Due from other governments 28,346
Prepaid costs 560,784
Total current assets 5,585,357
Noncurrent:
Capital assets, net 1,786,979
Total noncurrent assets 1,786,979
Total assets 7,372,336
LIABILITIES
Current liabilities:
Accounts payable 204,019
Retainage payable 4,470
Total current liabilities 208,489
Total liabilities 208,489
NET POSITION
Net investment in capital assets 1,782,509
Unrestricted 5,381,338
Total net position 7,163,847$
See Notes to Financial Statements. 27
CITY OF DIAMOND BAR, CALIFORNIA
Statement of Revenues, Expenses and Changes in Net Position
Proprietary Funds
For the Year Ended June 30, 2025
Governmental
Activities
Internal
Service Funds
OPERATING EXPENSES
Insurance premiums 534,118$
Equipment repair and maintenance 706,905
Depreciation/amortization expense 171,612
Total operating expenses 1,412,635
Operating income (loss)(1,412,635)
NONOPERATING REVENUES (EXPENSES)
Interest revenue 270,668
Total nonoperating revenues (expenses)270,668
Income (loss) before transfers (1,141,967)
Transfer in 1,751,780
Change in net position 609,813
Net position-beginning 6,554,034
Net position-ending 7,163,847$
See Notes to Financial Statements. 28
CITY OF DIAMOND BAR, CALIFORNIA
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2025
Governmental
Activities
Internal
Service Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Payments to suppliers and service providers (1,727,222)$
Net cash provided by (used for)
operating activities (1,727,222)
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds 1,751,780
Net cash provided by (used for)
noncapital financing activities 1,751,780
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Capital contributions 20,000
Acquisition and construction of capital assets (578,243)
Net cash provided by (used for)
capital and related financing activities (558,243)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments 270,668
Net cash provided by (used for)
investing activities 270,668
Net increase (decrease) in
cash and cash equivalents (263,017)
Cash and cash equivalents-beginning 5,259,244
Cash and cash equivalents-ending 4,996,227$
See Notes to Financial Statements. 29
CITY OF DIAMOND BAR, CALIFORNIA
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2025
Governmental
Activities
Internal
Service Funds
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH PROVIDED BY (USED FOR)
OPERATING ACTIVITIES
Operating income (loss)(1,412,635)$
Adjustments to reconcile operating income (loss) to
net cash provided by (used for) operating activities:
Depreciation/amortization expense 171,612
(Increase) decrease in prepaid items (560,784)
Increase (decrease) in accounts payable 74,585
Total adjustments (314,587)
Net cash provided by (used for)
operating activities (1,727,222)$
SCHEDULE OF NON-CASH NONCAPITAL, CAPITAL,
AND INVESTING ACTIVITIES
Unrealized gain/(loss) on fair value of investments (90,071)$
Increase in retainage payable (2,475)
See Notes to Financial Statements. 30
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES
A. Description of Reporting Entity
The City of Diamond Bar (the City) was incorporated April 18, 1989, as a "General Law” City governed by an elected
five-member city council. As required by accounting principles generally accepted in the United States of America,
these financial statements present the City of Diamond Bar (the primary government) and its component units. The
component units discussed below are included in the City's reporting entity because of the significance of their
operational or financial relationship with the City. These entities are legally separate from each other. However, the
City of Diamond Bar's elected officials have a continuing full or partial accountability for fiscal matters of the other
entities. The financial reporting entity consists of: (1) the City (2) organizations for which the City is financially
accountable; and, (3) organizations for which the nature and significance of their relationship with the City are such
that exclusion would cause the City's financial statements to be misleading or incomplete.
An organization is fiscally dependent on the primary government if it is unable to adopt its budget, levy taxes or set
rates or charges, or issue bonded debt without approval by the primary government. In a blended presentation, a
component unit’s balances and transactions are reported in a manner similar to the balances and transactions of
the City. Component units are presented on a blended basis when the component unit’s governing body is
substantially the same as the City's or when the component unit provides services almost entirely to the City.
Blended Component Units
The Diamond Bar Public Financing Authority (the Authority) was formed on November 19, 2002. The purpose of
the Authority is to issue debt to finance public improvements and other capital purchases for the City and Agency.
The activity of the Authority is reported in debt service and capital projects funds. Separate financial statements are
not prepared for this blended component unit.
B. Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of changes in net
position) report information on all of the nonfiduciary activities of the City. For the most part, the effect of interfund
activity has been removed from these statements. Governmental activities, which normally are supported by taxes
and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant
extent on fees and charges for support. The City has no business-type activities.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment
are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or
segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit
from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are
restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other
items not properly included among program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even
though the latter are excluded from the government-wide financial statements. Major individual governmental funds
are reported as separate columns in the fund financial statements.
C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The basic financial statements of the City are composed of the following:
• Government-wide financial statements.
• Fund financial statements.
• Notes to basic financial statements.
31
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
The government-wide financial statements, proprietary fund and fiduciary fund financial statements are reported
using the economic resources measurement focus and the accrual basis of accounting. Under the economic
resources measurement focus, all assets and liabilities (current and long-term) are reported. Under the accrual
basis of accounting, revenues are recorded when earned and expenses are recorded when a liability is incurred,
regardless of the timing of related cash flows. Property taxes are recognized as revenues in the fiscal year, which
the taxes are levied. Revenue from grants, entitlements, and donations is recognized in the fiscal year in which all
the eligibility requirements imposed by the provider have been met.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and
expenses generally result from providing services and producing and delivering goods in connection with a
proprietary fund’s principal ongoing operations. The principal operating revenues of the City's internal service funds
are charges to departments for services. Operating expenses for the proprietary funds include the cost of services,
administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition
are reported as nonoperating revenues and expenses.
Governmental fund financial statements are reported using the current financial resources measurement focus and
the modified accrual basis of accounting. Under the current financial resources measurement focus, generally only
current assets and liabilities are reported in the governmental funds. Governmental fund operating statements
present increases (revenues and other financing sources) and decreases (expenditures and other financing uses)
in net current assets. Under the modified accrual basis of accounting, revenues are recognized as soon as they are
both measurable and available. Revenues are considered to be available when they are collectible within the current
period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers
revenues to be available if they are collected within 60 days of the end of the current fiscal year. Expenditures
generally are recorded when a liability is incurred, except for principal and interest on long-term liabilities, claims
and judgments, and compensated absences which are recognized as expenditures only when payment is due.
Property taxes, taxpayer-assessed taxes, such as sales taxes, gas taxes, and transient occupancy taxes, and
interest associated with the current fiscal period are all considered to be susceptible to accrual and have been
recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within
the current fiscal period is considered to be susceptible to accrual as revenue of the current period to the extent
normally collected within the availability period. All other revenue items are considered to be measurable and
available only when cash is received by the City.
The accounts of the City are organized and operated on the basis of funds, each of which is considered a separate
accounting entity with a self-balancing set of accounts, established for the purpose of carrying on specific activities
or attaining certain objectives in accordance with special regulations, restrictions or limitations.
As a general rule, the effect of Interfund activity has been eliminated from the government-wide financial statements.
Exceptions to this general rule are charges between the government’s proprietary funds functions and various other
functions of the government. Elimination of these charges would distort the direct costs and program revenues
reported for the various functions concerned.
Amounts reported as program revenues include 1) charges to customers or applicants for goods, services or
privileges provided, 2) operating contributions and grants, and 3) capital contributions and grants, including special
assessments. Internally dedicated resources are reported as general revenues rather than as program revenues.
Likewise, general revenues include all taxes.
When both restricted and unrestricted resources are combined in a fund, expenses are considered to be paid first
from restricted resources, and then from unrestricted resources.
32
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Fund Classifications
The City reports the following major governmental funds:
The General Fund is the primary operating fund of the City and is used to account for all revenues and expenditures
of the City not legally restricted as to use. A broad range of municipal activities are provided through this fund
including City Manager, City Attorney, Finance, City Clerk, Public Works, Building and Safety, and Parks and
Recreation.
The Traffic Improvement Fund is used to account for funds which have been received from development projects
and designated by the City Council for traffic mitigation projects.
The Capital Improvement Project Fund is used to account for improvements of construction of capital facilities.
The City's fund structure also includes the following fund types:
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted
or committed to expenditures for specified purposes.
Capital Projects Funds are used to account for and report financial resources that are restricted, committed, or
assigned to expenditure for capital outlays, including the acquisition or construction of capital facilities and
other capital assets.
Debt Service Fund are used to account for the receipt of revenues and payments of debt service related to
outstanding bonds.
Additionally, the City reports the following fund types:
Internal Service Funds have been established to finance and account for goods and services provided by one City
department to other City departments or agencies. These activities include self-insurance, equipment, building
maintenance and computer maintenance.
E. Investments
For financial reporting purposes, investments are stated at fair value.
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
balances.
F. Cash and Cash Equivalents
For purposes of the statement of cash flows, cash and 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 (an original maturity
date of three months or less from the date of purchase) that they present insignificant risk of changes in value
because of changes in interest rates. Cash and cash equivalents also represent the proprietary funds' share in the
cash and investment pool of the City. All cash and investments of the proprietary (internal service) funds are pooled
with the City's pooled cash and investments and are therefore considered cash equivalents for purposes of the
statement of cash flows.
33
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
G. Prepaid Costs
Prepaid costs are accounted for on the consumption method. Certain payments to vendors reflect costs applicable
to future accounting periods and are recorded as prepaid items in both government-wide and fund financial
statements.
H. Capital Assets
Capital assets (including infrastructure) are recorded at cost where historical records are available and at an
estimated original cost where no historical records exist. Contributed capital assets are valued at acquisition value
at the date of contribution. Capital asset purchases (other than infrastructure) in excess of $5,000 are capitalized if
they have an expected useful life of three years or more. 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
date of donation.
Capital assets include additions to public domain (infrastructure), certain improvements including roads, streets,
sidewalks, medians and storm drains within the City.
Capital assets used in operations are depreciated over their estimated useful lives using the straight-line method in
the Government-wide and Proprietary Fund Financial Statements. Depreciation is charged as an expense against
operations and accumulated depreciation is reported on the respective balance sheet.
The lives used for depreciation purposes of each capital asset class are:
Buildings and improvements 50 years
Furniture and fixtures 7 years
Vehicles 5 years
Infrastructure 10 - 50 years
Equipment 3 years
Intangible Assets are capitalized at cost related to the enterprise resource management system. Amortization has
been provided on a straight-line basis over the estimated useful life of 10 years.
I. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position 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 items that qualify for reporting in this category. It is deferred
outflows relating to the net pension obligation and net OPEB obligation reported in the government-wide statement
of net position. These outflows are the results of contributions made after the measurement period, adjustments
due to difference in proportions, and the difference between actual contributions made and the proportionate share
of the risk pool’s total contributions, differences between expected and actual experiences, net differences between
projected and actual experiences on plan investments, and change in assumptions.
34
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
In addition to liabilities, the statement of financial position 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 thus will not be recognized as an inflow of resources
(revenue) until that time. The government has three items which arises under the modified accrual basis of
accounting that qualifies for reporting in this category. Accordingly, one item, unavailable revenue, is reported only
in the governmental funds balance sheet. The governmental funds report unavailable revenues from two sources:
taxes and grant revenues. These amounts are deferred and recognized as an inflow of resources in the period that
the amounts become available. In addition, the government has items that qualify for reporting in this category
which relate to deferred inflows relating to the net pension and net OPEB obligations reported in the
government-wide statement of net position. These inflows are the result of the net difference between projected
and actual earnings on plan investments, changes in employer’s proportion, difference between the employer’s
contributions and the employer’s proportionate share of contributions, adjustments due to difference in proportions,
differences between expected and actual experiences, and change in assumptions. Lastly, leases related items for
the amount of the lease receivable plus any lease payments related to future periods, less any lease incentives
paid to, or on behalf of, the lessee at or before the commencement of the lease term.
J. Net Position Flow Assumption
Sometimes the government will fund outlays for a particular purpose from both restricted (e.g., restricted bond or
grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted – net position
and unrestricted – net position in the government-wide and proprietary fund financial statements, a flow assumption
must be made about the order in which the resources are considered to be applied. It is the government’s policy to
consider restricted – net position to have been depleted before unrestricted – net position is applied.
K. Fund Balance Flow Assumptions
Sometimes the government will fund outlays for a particular purpose from both restricted and unrestricted resources
(the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as
restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements a flow
assumption must be made about the order in which the resources are considered to be applied. It is the
government’s policy to consider restricted fund balance to have been depleted before using any of the components
of unrestricted fund balance. Further, when the components of unrestricted fund balance can be used for the same
purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is
applied last.
L. Compensated Absences
Vacation and sick leave time begin to accumulate as of the first day of employment to a maximum of 360 hours and
480 hours, respectively. Employees who accumulate sick leave in excess of 200 hours may be compensated for
the excess up to 80 hours annually at one half the employees current wage rate.
A liability is recorded for unused vacation and similar compensatory leave balances since the employees'
entitlement to these balances are attributable to services already rendered and it is probable that virtually all of
these balances will be liquidated by either paid time off or payments upon termination or retirement.
A liability is recorded for unused sick leave balances only to the extent that it’s probable that the unused balances
will result in termination payments. This is estimated by including in the liability the unused balances of employees
currently entitled to receive termination payments, as well as those who are expected to become eligible to receive
termination benefits as a result of continuing their employment with the City.
If an employee retires, resigns, or terminates in good standing with a minimum of five years of service, the employee
is entitled to receive 100% of unused sick leave at one half the employees current wage rate. Compensated
absences will be reported in government funds only if they have matured, such as upon retirement.
35
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
M. Pension Plan
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 CalPERS Financial Office. 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 under Forms and Publications.
Net Pension liability is expected to be paid in future years from future resources, typically liquidated from the
General Fund.
N. Other Post-Employment Benefits (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 California Employers’ Retiree Benefit Trust (CERBT), 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. Net OPEB liability is expected to be paid in future years from future resources, typically
liquidated from the General Fund.
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 timeframes are used:
Valuation Date June 30, 2025
Measurement Date June 30, 2025
Measurement Period July 1, 2024, to June 30, 2025
O. Recognition of Deferred Outflows and Deferred Inflows of Resources
Gains and losses related to changes in total OPEB or Pension liability and fiduciary net position are recognized in
OPEB or Pension expense systematically over time. Amounts are first recognized in OPEB or 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 OPEB or Pension and are to be recognized in future OPEB or Pension expense.
The recognition period differs depending on the source of the gain or loss:
Net difference between projected and actual 5 years
earnings on plan investments
All other amounts Expected average remaining service lifetime (EARSL)
P. Property Taxes
Under California law, property taxes are assessed and collected by the counties up to 1% of assessed value, plus
other increases approved by the voters. The property taxes go into a pool, and are then allocated to the cities based
on complex formulas. Accordingly, the City accrues only those taxes which are received from the County within
60 days after year end.
36
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
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 - 1st installment
February 1 - 2nd installment
Collection dates December 10 - 1st installment
April 10 - 2nd installment
Delinquent dates December 11 - 1st installment
April 11 - 2nd installment
Q. Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the
United States of America requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenditures during the reporting period. Actual
results could differ from those estimates. Net OPEB liability is expected to be paid in future years from future
resources, typically liquidated from the General Fund.
R. Fund Balance
In the fund financial statements, government funds report the following fund balance classification:
• Nonspendable include amounts that cannot be spent because they are either (a) not in spendable form or
(b) legally or contractually required to be maintained intact.
• Restricted include amounts that are constrained on the use of resources by either (a) external creditors,
grantors, contributors, or laws of regulations of other governments or (b) by law through constitutional provisions
or enabling legislation.
• Committed include amounts that can only be used for specific purposes pursuant to constraints imposed by
formal action of the government’s highest authority, City Council. The formal action that is required to be taken
to establish, modify, or rescind a fund balance commitment is a resolution.
• Assigned include amounts that are constrained by the government’s intent to be used for specific purposes, but
are neither restricted nor committed. The Director of Finance is authorized to assign amounts to a specific
purpose, which was established by the governing body in resolution.
• Unassigned include the residual amounts that have not been restricted, committed, or assigned to specific
purposes. The General Fund is the only fund that reports a positive fund unassigned fund balance amount. 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
the amounts that are restricted, committed, or assigned to those purposes, it may be necessary to report a negative
unassigned fund balance in that fund.
An individual governmental fund could include nonspendable resources and amounts that are restricted or
unrestricted (committed, assigned, or unassigned) or any combination of those classifications. Restricted amounts
are to be considered spent when an expenditure is incurred for purposes for which both restricted and unrestricted
fund balance is available and committed, assigned, then unassigned amounts are considered to have been spent
when an expenditure is incurred for purposes for which amounts in any of those unrestricted fund balance
classifications can be used.
37
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
New GASB Pronouncement Effective during Fiscal Year
The following Government Accounting Standards Board (GASB) pronouncement was effective for and implemented
for the fiscal year ended June 30, 2025:
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.
Management has assessed the impact of this Statement on the City’s financial statements and determined that the
implementation of this Statement resulted in a beginning balance restatement as discussed in Note 14.
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. The City’s financial statements were
not impacted by the implementation of this Statement.
NOTE 2: STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Deficit Fund Balance
At June 30, 2025, The City reported deficit fund equities in the following funds:
Fund Name Fund Type Deficit Cause
Capital Improvement Fund Major Capital Projects Fund (1,774,510) (b)
CDBG NonMajor Special Revenue Fund (7,263)$ (a)
Local Roadway Safety Plan NonMajor Special Revenue Fund (92) (a)
PLHA NonMajor Special Revenue Fund (120,920) (a)
Public Financing Authority NonMajor Debt Service Fund (14,616) (c)
(a) Deficit due to timing differences between grant receipts and disbursements, and is
expected to be eliminated through future grant revenues.
(b) Deficit due to the timing differences between expenditures and the iss uance of bonds to
finance the project, and is expected to be eliminated once the bonds are issued.
(c) Deficit due to insufficient transfers from the General Fund, which were budgeted to cover
scheduled principal and interest payments on outstanding debt. The timing of these transfers
did not align with the due dates of debt service obligations, causing expenditures to exceed
available resources at year-end. Management anticipates that the deficitwillbeeliminated
upon receipt of the scheduled transfers in the subsequent fiscal period.
38
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 3: CASH AND INVESTMENTS
As of June 30, 2025, cash and investments were reported in the accompanying financial statements as follows:
Cash and investments held by the City at June 30, 2025, consisted of the following:
Investments Authorized by the California Government Code and the City's Investment Policy
The following table identifies the investment types that are authorized for the City by the California Government
Code (or the City’s investment policy, where more restrictive). The table also identifies certain provisions of the
California Government Code (or the City's investment policy, where 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. The City Treasurer may waive the collateral
requirement for deposits that are fully insured up to $250,000 by the FDIC.
Statement of Net Position
Cash and investments 71,232,721$
Restricted:
Cash with fiscal agent 1,466
Total cash and investments 71,234,187$
Statement of Net Position
Cash and investments 71,232,721$
Restricted:
Cash with fiscal agent 1,466
Total cash and investments 71,234,187$
Cash and investments held by the City at June 30, 2025, consisted of the following:
Cash on hand 1,630$
Deposits with financial institutions 1,551,679
Total cash and cash equivalent 1,553,309
United States Government Sponsored Securities
Federal Agency Securities 21,076,284
Certificates of Deposit 21,050,579
Corporate Notes 5,792,046
Money Market Mutual Funds 11,248,383
Local Agency Investment Fund 10,512,120
Held by Fiscal Agent:
Money Market Mutual Funds 1,466
Total Investments and held by fiscal agent 69,680,878
Total cash and investments 71,234,187$
39
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 3: CASH AND INVESTMENTS (CONTINUED)
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 None None
Bankers acceptances Yes 180 days 40%30%
Time Certificate of Deposits Yes 5 years 30% $250,000
Commercial paper Yes 270 days 25%10%
Certificates of deposit (negotiable)Yes 5 years 30%None
Repurchase agreements Yes 1 year None None
Medium-term corporate notes (1)Yes 5 years 30%5%
Money market mutual funds Yes N/A 20%None
Supranational Yes 5 years 30%None
(1) Notes ust be rated "A" or better
* Based on state law requirements or City investment policy requirements, whichever is more restrictive.
40
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 3: CASH AND INVESTMENTS (CONTINUED)
Investments Authorized by Debt Agreements
Investments of debt proceeds held by bond trustee are governed by provisions of the debt agreements, rather than
the general provisions of the California Government Code or the City's investment policy. The table below identifies
the investment types that are authorized for investments held by bond trustee. The table also identifies certain
provisions of these debt agreements that address interest rate risk, credit risk, and concentration of credit risk.
Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in 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 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.
Information about the sensitivity of the fair values of the City's investments (including investments held by bond
trustee) to interest rate fluctuations is provided by the following table that shows the distribution of the City's
investments by maturity:
Maximum Maximum
Maximum Percentage Investment
Authorized Investment Type Maturity of Portfolio in One Issuer
U.S. Treasury obligations None None None
U.S. agency securities None 10%None
Bankers acceptances 1 year None None
Repurchase obligations tax exempt 30 Days None None
Local Agency Investment Fund None None None
Taxable government money market port fo None Equal to six
months of
principal and
interest in the
bonds
None
12 Months 13 to 36 37 to 60
Investment Type Total or Less Months Months
U.S. Treasury obligations 5,061,482$ 1,992,441$ 1,953,672$ 1,115,369$
U.S. agency securities 16,014,802 2,973,249 10,967,587 2,073,966
Certificates of deposit (negotiable)21,050,579 5,254,550 7,468,720 8,327,309
Medium-term notes 5,792,046 - 986,235 4,805,811
Money market mutual funds 11,248,383 11,248,383 - -
Local Agency Investment Fund 10,512,120 10,512,120 - -
Held by Fiscal Agents - - - -
Money market mutual funds 1,466 1,466 - -
Total 69,680,878$ 31,982,209$ 21,376,214$ 16,322,455$
Remaining Maturity (in Months)
41
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 3: CASH AND INVESTMENTS (CONTINUED)
Disclosures Relating to 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 reported by Moody’s, as of year-end for each
investment type:
Fair Value Hierarchy
The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted
accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset.
Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable
inputs; Level 3 inputs are significant unobservable inputs.”
The City has the following recurring fair value measurements as of June 30, 2025:
Local Agency Investment Funds classified in Level 2 of the fair value hierarchy are valued using specified fair value
factors. Federal Agency Securities classified in Level 2 of the fair value hierarchy are valued using institutional bond
quotes.
Minimum Exempt or
Investment Type Total Legal Rating Aaa Aa3 AA2 A1 A2 Not Rated
U.S. Treasury obligations 5,061,482$ Aaa 5,061,482$ -$ -$ -$ -$ -$
U.S. agency securities 16,014,802 Aaa 16,014,802 - - - - -
Certificates of deposit (negotiable)21,050,579 Not Rated - - - - - 21,050,579
Repurchase agreements - A - - - - - -
Medium-term notes 5,792,046 A 478,120 1,246,644 357,378 1,655,133 2,054,771
Money market mutual funds 11,248,383 Not Rated - - - - - 11,248,383
Local Agency Investment Fund 10,512,120 Not Rated - - - - - 10,512,120
Held by Fiscal Agents
Money market mutual funds 1,466 Not Rated - - - - - 1,466
Total 69,680,878$ 21,554,404$ 1,246,644$ -$ 357,378$ 1,655,133$ 44,867,319$
Moody's Rating as of Fiscal Year End
Investment Type Total Level 1 Level 2
U.S. Treasury obligations 5,061,482$ 5,061,482$ -$
U.S. agency securities 16,014,802 - 16,014,802
Certificates of deposit (negotiable) 21,050,579 - 21,050,579
Medium-term notes 5,792,046 - 5,792,046
Total 47,918,909 5,061,482$ 42,857,427$
Investment Type
Local Agency Investment Fund 10,512,120
Money Market Mutual Funds 11,248,383
Cash with Fiscal Agents
Money Market Funds 1,466
Totals 21,761,969
Total Investments 69,680,878$
Input Category
42
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 3: CASH AND INVESTMENTS (CONTINUED)
Disclosures Relating to 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. The City does
not accept 150% of the secured public totals. At June 30, 2025, the City deposits (bank balances) were insured by
the Federal Depository Insurance Corporation up to $250,000 and the remaining balances were collateralized under
California Law. The cash and investments held by Bond Trustee are uninsured and uncollateralized.
Investment in State Investment Pool
The City is a voluntary participant in the California Local Agency Investment Fund (LAIF) that is regulated by
California Government Code Section 16429 under the oversight of the Treasurer of the State of California. LAIF is
overseen by the Local Agency Investment Advisory Board, which consists of five members, in accordance with
State statute. The State Treasurer’s Office audits the fund annually. The fair value of the position in the investment
pool is the same as the value of the pool shares.
NOTE 4: INTERFUND TRANSFERS AND DUE TO/FROM OTHER FUNDS
Transfers from the General Fund to the Capital Improvement Fund were made to fund various capital improvement
projects.
Transfers from the General Fund to the Non-major Governmental Funds were made to fund various capital
improvement projects, the City general plan revision, a fund deficit and debt service payments.
Transfers to the General Fund from the Non-major Governmental Funds were made to fund various capital projects
and administrative expenditures.
Capital Non-Major
General Improvement Governmental Internal Service
Fund Fund Funds Funds Total
Transfers out
General Fund -$ 1,134,361$ 823,927$ 1,751,780$ 3,710,068$
Non-Major Governmental Funds 1,448,849 10,224,902 - - 11,673,751
Total 1,448,849$ 11,359,263$ 823,927$ 1,751,780$ 15,383,819$
Transfers in
43
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 4: INTERFUND TRANSFERS AND DUE TO/FROM OTHER FUNDS (CONTINUED)
Transfers to the Capital Improvement Fund from the Non-major Governmental Funds were made to fund various
capital projects.
Short-term borrowings were made from the General Fund to Non-major Governmental due to negative cash. This
is expected to be repaid in the immediate future with reimbursements.
NOTE 5: CAPITAL ASSETS
A summary of changes in the Governmental Activities capital assets at June 30, 2025, is as follows:
Depreciation/amortization expense was charged to functions in the Statement of Activities as follows:
Due/to From Due from other funds Due to other Funds Amount
General Fund Capital Improvement Fund 1,248,214$
General Fund Non-major Governmental Funds 118,067
Total 1,366,281$
Balance Balance
July 1, 2024 Adjustments Additions Deletions Transfers June 30, 2025
Governmental activities:
Capital assets, not being depreciated/amortized
Land 6,369,509$ -$ 925,314$ -$ -$ 7,294,823$
Right of way 265,614,104 - - - - 265,614,104
Construction-in-progress 5,185,900 - 12,965,024 - (12,998,495) 5,152,429
Total capital assets, not being depreciated/amortized 277,169,513 - 13,890,338 - (12,998,495) 278,061,356
Capital assets, being depreciated/amortized
Buildings and improvements 50,734,726 - 175,648 (60,676) 2,686,881 53,536,579
Furniture and fixtures 259,868 - - - - 259,868
Vehicles and equipment 5,172,487 - 220,743 (211,504) - 5,181,726
Infrastructure 208,294,718 - 426,867 (86,904) 10,311,614 218,946,295
Intangible 771,167 - - - - 771,167
Total capital assets, being depreciated/amortized 265,232,966 - 823,258 (359,084) 12,998,495 278,695,635
Less accumulated depreciation/amortization
Buildings and improvements (43,684,200) - (1,454,773) - (45,138,973)
Furniture and Fixtures (259,868) - - - - (259,868)
Vehicles and equipment (4,387,754) - (161,200) 211,504 - (4,337,450)
Infrastructure (153,187,072) (934,910) (5,548,392) 2,172 - (159,668,202)
Intangible (154,234) - (77,116) - - (231,350)
Total accumulated depreciation/amortization (201,673,128) (934,910) (7,241,481) 213,676 - (209,635,843)
Total capital assets, being depreciated/amortized, net 63,559,838 (934,910) (6,418,223) (145,408) 12,998,495 69,059,792
Total governmental activities capital assets 340,729,351$ (934,910)$ 7,472,115$ (145,408)$ -$ 347,121,148$
General government 406,921$
Publc Works 6,058,428
Parks and recreation 604,520
Internal service funds 171,612
Total depreciation/amortization expense 7,241,481$
44
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 6: LONG-TERM LIABILITIES
Long-term liability activity for the year ended June 30, 2025, was as follows:
Bonds Payable
2021 Series A Lease Revenue Refunding Bonds
The 2021 Series A Lease Revenue Refunding Bonds were originally issued on June 1, 2021, in the principal amount
of $6,735,000. Interest is paid semiannually on December 1 and June 1. The interest rate on these bonds is 4.0%.
The purpose of these bonds is to refund the 2002 Series A Lease Revenue Bonds and to cover issuance costs of
the 2021 Series A bonds.
The following events are Events of Default under the Indenture: (i) if the City fails; (A) to pay rental payment payable
under the lease agreement when the same becomes due and payable, time being expressly declared to be of the
essence in the lease agreement; or (B) to keep, observe or perform any other term, covenant or condition contained
therein or in the indenture to be kept or performed by the City; or (ii) upon the happening of any of the events
specified in the lease agreement, the City is deemed to be in default thereunder and it is lawful for the Authority to
exercise any and all remedies available pursuant to law or granted pursuant thereto. The 2021 Bonds are not
subject to acceleration in the event of payment default. The City completed the refunding to reduce its total service
payments by $1,736,355 and to obtain an economic gain (difference between the present value of the old and new
debt service payments) of $1,632,706.
Credit Risk
The Counterparty, JPMorgan Chase, has the following credit ratings of: (i) Standard & Poor's, AA+ and (ii) Moody's,
Aa2.
Payments and Associated Debt
As of June 30, 2025, debt service requirements of the Bonds and the Counterparty's payments, assuming current
interest rates remain the same for remainder of the term of the Agreement, are as follows:
Amount
Balance Balance Due Within
July 1, 2024 Additions Deletions June 30, 2025 One Year
Public Offering
Bonds payable
Bonds payable 5,335,000$ -$ 505,000$ 4,830,000$ 530,000$
Premium 966,819 - 107,424 859,395 -
Total bonds payable 6,301,819 - 612,424 5,689,395 530,000
Total governmental activities 6,301,819$ -$ 612,424$ 5,689,395$ 530,000$
June 30 Principal Interest
2026 530,000$ 193,200$
2027 550,000 172,000
2028 580,000 150,000
2029 605,000 126,800
2030 625,000 102,600
2031-2033 1,940,000 153,600
Totals 4,830,000$ 898,200$
Governmental Activities
45
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 6: LONG-TERM LIABILITIES (CONTINUED)
Compensated Absences
The City's policies relating to compensated absences are described in Note 1. This liability, amounting to $1,372,857
at June 30, 2025, is expected to be paid in future years from future resources, typically liquidated from the
General Fund.
NOTE 7: LIABILITY, PROPERTY AND WORKERS’ COMPENSATION PROTECTION
The City of Diamond Bar 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.
A. Self-Insurance Programs of the Authority
Each member pays an annual contribution at the beginning of the coverage period. A retrospective adjustment is
then conducted annually thereafter, for coverage years 2012-13 and prior. Coverage years 2013-14 and forward
are not subject to routine annual retrospective adjustment. 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.
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/.
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 $75,000 for each occurrence and is evaluated
as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes
Balance at
June 30, 2024 Adjustments
Adjusted
Balance
July 1, 2024 Net Change
Balance at
June 30, 2025
Due Within
One Year
Compensated absences 1,045,321$ 243,822$ 1,289,143$ (83,714)$ 1,372,857$ 350,000$
46
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 7: LIABILITY, PROPERTY AND WORKERS’ COMPENSATION PROTECTION (CONTINUED)
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.
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.
B. Purchased Insurance
Pollution Legal Liability Insurance
The City of Diamond Bar 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 Diamond Bar. Coverage is on a claims-made basis. There is a $250,000 deductible. The Authority
has an aggregate limit of $20 million.
Property Insurance
The City of Diamond Bar participates in the all-risk property protection program of the Authority. This insurance
protection is underwritten by several insurance companies. City of Diamond Bar property is currently insured
according to a schedule of covered property submitted by the City of Diamond Bar to the Authority. City of Diamond
Bar property currently has all-risk property insurance protection in the amount of $43,577,876. There is a
$10,000 deductible per occurrence except for non-emergency vehicle insurance which has a $2,500 deductible.
Earthquake and Flood Insurance
The City of Diamond Bar purchases earthquake and flood insurance on a portion of its property. The earthquake
insurance is part of the property protection insurance program of the Authority. City of Diamond Bar property
currently has earthquake protection in the amount of Non Participant. There is a deductible of 5% per unit of value
with a minimum deductible of $100,000.
Crime Insurance
The City of Diamond Bar purchases crime insurance coverage in the amount of $1,000,000 with a
$2,500 deductible. The fidelity coverage is provided through the Authority.
Special Event Tenant User Liability Insurance
The City of Diamond Bar further protects against liability damages by requiring tenant users of certain property to
purchase low-cost tenant user liability insurance for certain activities on agency property. The insurance premium
is paid by the tenant user and is paid to the City of Diamond Bar according to a schedule. The City of Diamond Bar
then pays for the insurance. The insurance is facilitated by the Authority.
C. 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.
47
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 8: PENSIONS
A. Rate Plan Description
All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing
Multiple-Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees’
Retirement System (CalPERS.) The Plan consists of individual rate plans (benefit tiers) within a miscellaneous risk
pool (all other.) Plan assets may be used to pay benefits for any employer rate plan of the miscellaneous pools.
Accordingly, rate plans miscellaneous pools are not separate plans under GASB Statement No. 68. Individual
employers may sponsor more than one rate plan in the risk pools. The City sponsors two rate plans. Benefit
provisions under the Plan are established by State statute and Local Government resolution. CalPERS issues
publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions
and membership information that can be found on the CalPERS website.
B. Benefits Provided
CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits
to rate plan members, who must be public employees and beneficiaries. Benefits are based on years of credited
service, equal to one year of full-time employment. Members with five years of total service are eligible to retire at
age 50 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of
service. The death benefit is one of the following: The Optional Settlement 2W Death Benefit or the Lump Sum
Death Benefit. The cost of living adjustments for each rate plan are applied as specified by the Public Employees’
Retirement Law. The Rate Plans’ provisions and benefits in effect at June 30, 2025, are summarized as follows:
* Miscellaneous rate plan is closed to new entrants.
C. 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 rate plan contributions are determined through the
CalPERS’ annual actuarial valuation process. The actuarially determined rate is based on the estimated amount
necessary to pay the Plan’s allocated share of the risk pool’s costs of benefits earned by employees during the
year, and any unfunded accrued liability. The employer is required to contribute the difference between the
actuarially determined rate and the contribution rate of employees.
The City’s contributions to the Plan for the year ended June 30, 2025, were $1,438,916.
Miscellaneous
Prior to
January 1, 2013
Benefit vesting schedule 2% @ 55
Benefit payments monthly for life
Retirement age Minimum 50 yrs
1.425% - 2.418%
Monthly benefits, as a % of eligible compensation 50 yrs - 63 + yrs,
respectively
Required employee contribution rates 6.92%
Required normal employer contribution rates 11.84%
Required employer payment of unfunded liability 547,846
7.75%
7.68%
0
Hire date
Misc. PEPRA
52 yrs - 67 + yrs,
respectively
January 1, 2013
and thereafter
2% @ 62
monthly for life
Minimum 52 yrs
1.000% - 2.500%
48
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 8: PENSIONS (CONTINUED)
D. Pension Liabilities, Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related
to Pensions
As of June 30, 2025, the City reported a net pension liability for its proportionate share of the net pension liability of
the Plan of $8,708,162 and is expected to be paid in future years from future resources, typically liquidated from
the General Fund.
The City’s net pension liability for the Plan is measured as the proportionate share of the net pension liability. The
net pension liability of the Plan is measured as of June 30, 2024, and the total pension liability for the Plan used to
calculate the net pension liability was determined by an actuarial valuation as of June 30, 2023, rolled forward to
June 30, 2024, using standard update procedures. The City’s proportion of the net pension liability was based on a
projection of the City’s long-term share of contributions to Plan relative to the projected contributions of all
participating employers, actuarially determined. The City’s proportionate share of the net pension liability for each
Rate Plan as of June 30, 2023 and 2024, was as follows:
For the year ended June 30, 2025, the City recognized pension expense of $2,067,298. At June 30, 2025, the City
reported deferred outflows of resources and deferred inflows of resources related to pensions from the following
sources:
Miscellaneous
Proportion - June 30, 2024 (measured June 30, 2023) 0.070323%
Proportion - June 30, 2025 (measured June 30, 2024) 0.071805%
Change 0.001482%
Deferred Outflows Deferred Inflows
of Resources of Resources
Contributions subsequent to the
measurement date 1,438,916$ -$
Changes of assumptions 223,818 -
Adjustment due to difference
in proportins 277,783 -
Differences between expected and
actual experience 752,901 (29,378)
Change in employer's proportion and
differences between the employer's
contribution and the employer's
proportionate share of contributions - (121,049)
Net difference between projected
and actual earnings on pension
plan investments 501,318 -
Total 3,194,736$ (150,427)$
49
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 8: PENSIONS (CONTINUED)
$1,438,916 reported as deferred outflows of resources related to contributions subsequent to the measurement
date will be recognized as a reduction of the net pension liability in the year ended June 30, 2026. Other amounts
reported as deferred outflows or deferred inflows of resources related to pensions will be recognized as pension
expense as follows:
E. Actuarial Methods and Assumptions Used to Determine Total Pension Liability
For the measurement period ended June 30, 2024 (the measurement date), the total pension liability was
determined by rolling forward the June 30, 2023 total pension liability. The June 30, 2024 total pension liability was
based on the following actuarial methods and assumptions:
Actuarial Methods and Assumptions
The collective total pension liability for the June 30, 2024 measurement period was determined by an
actuarial valuation as of June 30, 2023, with update procedures used to roll forward the total pension liability to
June 30, 2024. The collective total pension liability was based on the following assumptions:
1 The mortality table was used developed based on CalPERS-specific data. The table includes 15 years of mortality
improvements using Society of Actuaries Scale 80% of scale MP 2020. For more details on this table, please refer
to the December 2021 experience study report (based on CalPERS demographic date from 2010 to 2019) that can
be found on the CalPERS website.
All other actuarial assumptions used in the June 30, 2023 valuation were based on the results of an actuarial
experience study for the period from 2010 to 2019, including updates to salary increase, mortality and retirement
rates. The Experience Study report can be obtained at CalPERS’ website under Forms and Publications.
F. Discount Rate
The discount rate used to measure the total pension liability for PERF C 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.
Deferred
Outflows/(Inflows)
Fiscal year ended June 30, of Resources
2025 592,276$
2026 1,154,261
2027 30,652
2028 (171,796)
2029 -
Total 1,605,393$
Investment rate of return 6.90%
Inflation 2.30%
Salary increases Varies by Entry Age and Service
Mortality rate table 1 Derived using CalPERS' Membership Date for all Funds
Post-retirement benefit increase Contract COLA up to 2.30% until Purchase Power
Protection Allowance Floor on Purchasing Power applies.
50
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 8: PENSIONS (CONTINUED)
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.
In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term
return expectations as well as the expected pension fund cash flows. Using historical returns and forecasted
information of all the funds’ asset classes, expected compound (geometric) returns were calculated over the
short-term (first 10 years) and the long-term (11+ years) using a building-block approach. Using the expected
nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The
expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the
same present value of benefits for cash flows as the one calculated using both short-term and long-term returns.
The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to
account for assumed administrative expenses.
The table below reflects long-term expected real rate of return by asset class. The rate of return was calculated
using the capital assumptions applied to determine the discount rate and asset allocation.
G. Sensitivity of the Net Pension Liability to Changes in the Discount Rate
The following presents the net pension liability/(asset) of the Plan as of the measurement date, calculated using the
discount rate of 6.90 percent, as well as what the net pension liability/(asset) would be if it were calculated using a
discount rate that is 1 percentage-point lower (5.90 percent) or 1 percentage-point higher (7.90 percent) than the
current rate:
H. Pension Plan Fiduciary Net Position
Detailed information about the Plan’s fiduciary net positions is available in the separately issued CalPERS financial
reports.
Assumed
Asset
Asset Class Allocation Real Return
1, 2
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
Discount Rate Current Discount Rate
-1 Percent Discount Rate +1 Percent
(5.90%) (6.90%) (7.90%)
Plan's net pension liability/(asset) 14,421,018$ 8,708,162$ 4,005,641$
51
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9: POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS
The City provides an agent multiple employer OPEB plan to retirees through the California Employers’ Retiree
Benefit Trust (CERBT). Information on the plan is available from CalPERS on their website www.calpers.ca.gov.
A. Plan Description
Plan administration. Medical coverage is provided through CalPERS under the Public Employees' Medical and
Hospital Care Act (PEMHCA), also referred to as PERS Health. Employees may choose from a variety of HMO and
PPO medical and prescription drug options.
Benefits provided. The City sets its monthly contribution rates for health insurance on behalf of active employees
according to the PEMHCA statutory minimum $136/month for calendar 2019 and $139/month for calendar 2020.
These amounts are indexed (increased) in all future years according to the rate of medical inflation. The City pays
a 0.33% of premium administrative charge for all active employees. The City offers the same medical plans to its
retirees as to its active employees, with the general exception that upon reaching age 65 and becoming eligible for
Medicare, the retiree must join one of the Medicare Supplement coverages offered under PEMHCA.
Employees become eligible to retire and receive City-paid healthcare benefits upon attainment of
age 50 and 5 years of covered PERS service (age 52 and 5 for hires after 1/1/13), or by attaining qualifying disability
retirement status. The City's contribution on behalf of all eligible retirees is the same as for active employees
$139/month for calendar 2020 and $219/month for calendar 2021, increased in all future years according to the rate
of medical inflation. The City pays a 0.33% of premium administrative charge on behalf of all retirees.
B. Plan membership
At June 30, 2025, membership consisted of the following:
C. Contributions
The City currently contributes the full Actuarially Determined Contribution (ADC) to the CERBT OPEB trust, in
addition to paying benefit payments outside the trust. For the measurement date ended June 30, 2025, the City’s
total cash contributions were $118,900 in total payments, which were recognized as a reduction to the OPEB
liability.
Inactive members currently receiving benefits 11
Active members 65
Total 76
52
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9: POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (CONTINUED)
D. Investments
The CERBT was established for public agencies to pre-fund other post-employment benefit obligations. Employers
may choose amount three different investment strategies. The City of Diamond Bar has selected Strategy 3.
Compared to strategies 1 and 2, this portfolio consists of a higher percentage of bonds and other assets and a
lesser percentage of equities. The following was the investment committee approved asset allocation targets as of
June 30, 2024 (CalPERS ACFR for fiscal year 2024-2025 was not available as of the issuance of the City’s ACFR):
E. Net OPEB Liability
The City’s Net OPEB Liability was measured as of June 30, 2025 and the Total OPEB Liability used to calculate
the Net OPEB Liability was determined by an actuarial valuation as of July 1, 2024 and is expected to be paid in
future years from future resources, typically liquidated from the General Fund.
F. Actuarial assumptions
The total OPEB liability was determined using the following actuarial assumptions, applied to all periods included
in the measurement, unless otherwise specified:
Actuarial Cost Method Entry Age Level Percent of Pay Cost Method
Actuarial Assumptions
Discount Rate 5.75%
Salary increases 2.75%
Inflation rate 2.50%
Investment rate of return 5.75%, net of OPEB plan investment expense
Healthcare cost trend rate 4.00%
The mortality assumptions are based on the 2021 CalPERS Retiree Mortality for Miscellaneous and Schools
Employees table created by CalPERS. CalPERS periodically studies mortality for participating agencies and
establishes mortality tables that are modified versions of commonly used tables. This table incorporates mortality
projection as deemed appropriate based on CalPERS analysis.
The retirement assumptions are based on the 2021 CalPERS 2.0%@55 Rates for Miscellaneous Employees table
created by CalPERS. CalPERS periodically studies the experience for participating agencies and establishes tables
that are appropriate for each pool.
The retirement assumptions are based on the 2021 CalPERS 2.0%@62 Rates for Miscellaneous Employees table
created by CalPERS. CalPERS periodically studies the experience for participating agencies and establishes tables
that are appropriate for each pool.
Asset Class Target Allocation
Global Equity 23%
U.S. Fixed Income 51%
TIPS 9%
REITs 14%
Commodities 3%
100%
53
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9: POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (CONTINUED)
The turnover assumptions are based on the 2021 CalPERS Turnover for Miscellaneous Employees table created
by CalPERS. CalPERS periodically studies the experience for participating agencies and establishes tables that
are appropriate for each pool.
G. Discount rate
The discount rate used to measure the total OPEB liability was 5.75%. The projection of cash flows used to
determine the discount rate assumed that the 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 future benefit payments of current plan members. 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.
H. Changes in the Net OPEB Liability
The changes in the net OPEB liability are as follows:
*Contributions-employer amount includes implicit subsidy associated with benefits paid.
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
(a) (b) (c) = (a) - (b)
Balance at June 30, 2024 (measured June 30, 2025)1,386,464$ 782,823$ 603,641$
Changes recognized for the
measurement period:
Service cost 74,147 - 74,147
Interest on total OPEB liability 80,965 - 80,965
Contributions-employer - 118,900 (118,900)
Net investment income - 75,772 (75,772)
Benefit payments, including refunds of
employee contributions (30,900) (30,900) -
Administrative expense - (648) 648
Experience (Gains)/Losses (166,175) - (166,175)
Net changes (41,963) 163,124 (205,087)
Balance at June 30, 2025 (measured June 30, 2025)1,344,501$ 945,947$ 398,554$
54
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9: POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (CONTINUED)
I. Sensitivity of the Net OPEB liability to changes in the discount rate
The following presents the net OPEB liability, as well as what the net OPEB liability would be if it were calculated
using a discount rate that is 1 percentage-point lower (4.75 percent) or 1 percentage-point higher (6.75 percent)
than the current discount rate:
J. Sensitivity of the Net OPEB liability to changes in the healthcare cost trend rates
The following presents the net OPEB liability, as well as what the net OPEB liability would be if it were calculated
using healthcare cost trend rates that are 1-percentage-point lower (5.00 percent decreasing to 4.00 percent)
or 1-percentage-point higher (7.00 percent decreasing to 6.00 percent) than the current healthcare cost trend rates:
K. Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
At June 30, 2025, the City’s deferred outflows of resources and deferred inflows of resources to OPEB from the
following sources are:
Discount Rate Current Discount Rate
-1 Percent Discount Rate +1 Percent
(4.75%) (5.75%) (6.75%)
Plan's net OPEB liability/(asset) 592,684$ 398,554$ 237,856$
Current
1 Percent Heathcare 1 Percent
Decrease Trend Rate Increase
Plan's net OPEB liability/(asset) 196,813$ 398,554$ 652,850$
Deferred Outflows Deferred Inflows
of Resources of Resources
Changes of assumptions 119,598$ -$
Differences between expected and
actual experience 1,955 (299,570)
Net difference between projected
and actual earnings on OPEB
plan investments - (1,383)
Total 121,553$ (300,953)$
55
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9: POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (CONTINUED)
Amounts reported as deferred outflows and deferred inflows of resources will be recognized in OPEB expense as
follows:
NOTE 10: LEASES
A. Leases Receivable and Deferred Inflows of Resources
The City leases of communication equipment and land for the installation of cellular towers. The terms range from
60 months to 360 months as of the contract commencement date. Some leases have extension options of ranging
from 60 months to 25 years. An initial lease receivable was recorded in the amount of $2,742,364. As of
June 30, 2025, the value of the lease receivable is $2,463,045. The value of the deferred inflow of resources as of
June 30, 2025 was $2,311,306, and the City recognized lease revenue of $185,882.35 during the fiscal year.
The principal and interest payments that are expected to maturity are as follows:
Deferred
Outflows/(Inflows)
Fiscal year ended June 30, of Resources
2026 1,938$
2027 (15,929)
2028 (22,957)
2029 (20,884)
2030 (15,236)
Thereafter (106,332)
Total (179,400)$
Fiscal Year Principal Payments Interest Payments Total Payments
2026 166,740$ 96,018$ 262,758$
2027 168,398 88,800 257,198
2028 171,218 82,055 253,273
2029 179,181 75,064 254,245
2030 184,498 67,747 252,245
2031-2035 1,035,089 218,709 1,253,798
2036-2040 537,221 44,477 581,698
2041-2044 20,700 207 20,907
Total 2,463,045$ 673,077$ 3,136,122$
Principal and Interest Requirements to Maturity
56
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 11: CLASSIFICATION OF FUND BALANCE
Details of the fund balance classifications at June 30, 2025, are as follows:
Restricted for Community Development Projects:
Integrated Waste Management 2,608,339$
Trails & Bikeways Fund 659
Beverage Recycling 130,584
Used Oil Block Grant 29,644
Park and Facility Development 2,734,104
Homelessness Response 77,064
PEG Fees 492,986
CASP Fees (SB1186) 65,006
Total 6,138,386
Restricted for Public Safety:
COPS 473,676
Hazard Mitigation Grant 5,815
Total 479,491
Restricted for Highways and Streets:
State Gas Tax 681,022
Proposition A Transit 2,643,652
Proposition C Transit 1,374,026
Transportation Grant 1,072
Traffic Improvement 8,791,949
Sewer Mitigation 63,641
Road Maintenance & Rehab 2,509,136
Measure R Local Return 1,361,955
Waste Hauler 272,099
Street Beautification 374,653
Measure W Local Return 1,904,645
Total 19,977,850
Restricted for Capital Projects:
Air Quality Improvement 209,326
Measure M Local Return 1,469,017
Landscape Maintenance District 839,031
Total 2,517,374
Committed for Emergency Contingencies
General Fund 8,071,538
Assigned to Other Post Employment Benefits (OPEB):
General Fund 259,359
Assigned to Technology Reserve:
General Fund 172,255
Assigned for Capital Improvement Projects:
General Fund 1,128,611
Assigned for Tres Hermano Conservancy:
General Fund (Tres Hermanos Fund 248) 6,923
Assigned for General Plan Update:
General Fund (General Plan Update Fund 103) 325,212
Assigned for Community Organization Report:
General Fund (Law Enforcement Reserve Fund 102) 2,062
Assigned for Law Enforcement Reserve:
General Fund (Law Enforcement Reserve Fund 102) 1,323,656
Unassigned Fund Balance:
General Fund (Fund 100) 23,084,596
Other Governmental Funds (1,917,401)
Total Unassigned Funds 21,167,195$
57
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 12: TRES HERMANOS CONSERVATION AUTHORITY JOINT POWERS AUTHORITY
The Tres Hermanos Conservation Authority (Authority) is a joint powers agency created by a joint powers
agreement between the cities of Chino Hills and Diamond Bar, California, dated January 19, 1999. It was created
pursuant to Articles 1 through 4 of Chapter 5, Division 7, Title 1 of the Government Code of the State of California,
in accordance with the provisions of the Marks-Roos Local Bond Pooling Act of 1985. The purpose of the Authority
is to create a public entity to coordinate the overall development and conservation of a large undeveloped area of
real property known as the Tres Hermanos Ranch, by preparing studies, plans, environmental reviews and similar
information and by making recommendations to its members to take such actions including, but not limited to,
acquisition and eminent domain as are necessary to implement its recommendations.
On February 6, 2019, the Authority amended and restated its agreement with the City of Industry pursuant to a
Settlement Agreement. The City of Industry purchased the Tres Hermanos Ranch from the Successor Agency to
Industry’s Urban Development Agency. The City of Chino Hills and Diamond Bar contributed 10% of the purchase
of the land. With the new agreement each City will contribute approximately $70,000 each year for ranch expenses
and maintenance costs. The Board shall consist of seven voting directors and one alternate from each City, actions
taken require at least four approval. Three must come from the City of Industry, two from City of Chino Hills and two
from City of Diamond Bar.
The Authority is a public entity separate and apart from each of the Cities. The funds of the Authority have not been
included within the scope of the basic financial statements of the Cities because the Authority has its own governing
board that has responsibility over the operations of the Authority.
NOTE 13: CONSTRUCTION COMMITMENTS
The City had the following material construction commitments at June 30, 2025:
NOTE 14: RESTATEMENTS
A. Correction of an Error in Previously Issued Financial Statements (Column A)
During fiscal year 2025, the City determined that unearned revenues totaling $771,151 for recreation center
activities received in advanced were incorrectly reported as unavailable revenues. The effect of correcting that error
is shown in column A of the table below.
During fiscal year 2025, the City determined that an asset acquired and placed into service in prior years had not
been depreciated resulting $934,910 in depreciation related to prior years. The effect of correcting that error is
shown in column A of the table below.
During fiscal year 2025, the City made an adjustment to deferred inflows for leases and lease receivables totaling
$128,326 related to lease activity to better align with GASB 87.
B. Change in Accounting Principle (Column B)
For fiscal year ended June 30, 2025, the City implemented GASB Statement No. 101, Compensated Absences,
which updated the recognition and measurement guidance for compensated absences, to align recognition and
measurement under a single unified model to better meet the needs of financial statement users; refer to note 1.
The effect of the implementation of the change in accounting principle is shown in column B of the table below.
Capital projects fund 389,751$
Nonmajor governmental funds 2,500,499
Total 2,890,250$
58
CITY OF DIAMOND BAR, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 14: RESTATEMENTS (CONTINUED)
C. Adjustments to and Restatements of Beginning Balances
During fiscal year 2025, changes to or within the financial reporting entity, an error correction, and the change in
accounting principle resulted in adjustments to and restatements of beginning net position and fund net position,
as follows (amounts in thousands):
NOTE 15: SUBSEQUENT EVENTS
The City evaluated subsequent events for recognition and disclosure through January 20, 2026, 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.
(A.)(B.)(C.)
June 30, 2024 Changes in
As Previously Error Accounting June 30, 2024
Reported Correction Principle As Restated
Government-wide
Governmental activities 399,708,488$ (1,577,735)$ (243,822)$ 397,886,931$
Total government-wide 399,708,488$ (1,577,735)$ (243,822)$ 397,886,931$
Governmental funds
Major funds
General fund 34,500,049$ 128,326$ -$ 34,628,375$
Traffic Improvement 8,306,200 - - 8,306,200
Capital Improvement (415,120) - - (415,120)
Nonmajor funds 23,574,754 - - 23,574,754
Total governmental funds 65,965,883$ 128,326$ -$ 66,094,209$
59
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62
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
General Fund
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes 16,637,532$ 16,637,532$ 15,795,706$ (841,826)$
Licenses and permits 1,203,103 1,203,103 1,222,775 19,672
Intergovernmental 8,120,488 8,120,488 8,079,884 (40,604)
Charges for services 3,118,697 3,118,697 2,602,549 (516,148)
Use of money and property 1,615,300 1,615,300 2,530,420 915,120
Fines and forfeitures 370,000 370,000 356,821 (13,179)
Miscellaneous 46,430 46,430 38,837 (7,593)
Total revenues 31,111,550 31,111,550 30,626,992 (484,558)
EXPENDITURES
Current:
General government
City council 243,866 243,866 206,280 37,586
City attorney 238,500 238,500 435,735 (197,235)
City manager 1,258,258 1,306,468 1,228,680 77,788
City clerk 497,328 499,766 491,332 8,434
Finance 899,244 899,244 899,797 (553)
Human resources & risk management 578,670 578,670 578,263 407
Information systems 1,654,739 1,654,739 1,636,544 18,195
Community relations 1,059,341 1,059,341 875,756 183,585
Diamond Bar center 1,729,216 1,729,216 1,542,854 186,362
Contribution to OPEB trust 88,000 88,000 88,000 -
Subtotal General government 8,247,162 8,297,810 7,983,241 314,569
Public safety
Law enforcement 8,964,265 8,964,265 8,615,146 349,119
Volunteer program 4,000 4,000 181 3,819
Fire protection 8,000 8,000 7,359 641
Animal control 455,000 455,000 463,682 (8,682)
Emergency preparedness 50,600 50,600 42,993 7,607
Subtotal Public safety 9,481,865 9,481,865 9,129,361 352,504
Community development
Planning 931,485 1,070,434 1,127,464 (57,030)
Building & safety 1,213,234 1,213,234 1,139,057 74,177
Neighborhood improvement 549,417 549,417 489,568 59,849
Economic development 462,759 462,759 415,505 47,254
Subtotal Community development 3,156,895 3,295,844 3,171,594 124,250
Parks and recreation
Recreation 2,797,668 2,822,223 2,437,812 384,411
Subtotal Parks and recreation 2,797,668 2,822,223 2,437,812 384,411
Public works
Public works administration 681,433 681,433 690,631 (9,198)
engineering 891,863 891,863 405,103 486,760
Civic center 823,681 823,681 710,956 112,725
Parks & facilities maintenance 1,770,250 1,820,227 1,783,804 36,423
Landscape maintenance 347,100 347,100 338,317 8,783
Road maintenance 2,251,632 2,251,632 1,969,117 282,515
Subtotal Public works 6,765,959 6,815,936 5,897,928 918,008
Total expenditures 30,449,549 30,713,677 28,619,936 2,093,741
Excess (deficiency) of revenues
over (under) expenditures 662,001 397,873 2,007,056 1,609,183
OTHER FINANCING SOURCES (USES)
Transfers in 1,637,500 1,637,500 1,448,849 (188,651)
Transfers out (2,994,569) (5,120,569) (3,710,068) 1,410,501
Total other financing sources (uses)(1,357,069) (3,483,069) (2,261,219) 1,221,850
Net change in fund balances (695,068)$ (3,085,195)$ (254,163) 2,831,032$
Fund balances-beginning 34,500,049
Restatements-correction of error 128,326
Fund balances (deficit)-beginning, as restated 34,628,375
Fund balances (deficit)-ending 34,374,212$
See Notes to Required Supplementary Information. 63
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Traffic Improvement
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property 150,000$ 150,000$ 485,749$ 335,749$
Total revenues 150,000 150,000 485,749 335,749
Net change in fund balances 150,000$ 150,000$ 485,749 335,749$
Fund balances-beginning 8,306,200
Fund balances (deficit)-ending 8,791,949$
See Notes to Required Supplementary Information. 64
CITY OF DIAMOND BAR, CALIFORNIA
Miscellaneous Rate Plan
Schedule of Proportationate Share of Net Pension Liability
As of June 30, for the Last Ten Fiscal Years
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 0.07181%8,708,162$ 5,967,080$ 145.9%79.4%
2024 0.07032%8,772,989 5,770,674 152.0%77.4%
2023 0.06843%7,903,769 5,404,127 146.3%76.7%
2022 0.05574%3,014,631 5,433,199 55.5%88.3%
2021 0.06032%6,563,014 5,417,136 121.2%75.1%
2020 0.05926%6,072,351 5,227,663 116.2%75.3%
2019 0.00000%5,424,380 5,077,171 106.8%75.3%
2018 0.00000%5,537,585 5,088,134 108.8%73.3%
2017 0.05325%4,607,967 4,680,371 98.5%74.1%
2016 0.04862%3,337,560 4,551,711 73.3%78.4%
Notes to Schedule of Proportionate Share of the Net Pension Liability:
1 The proportions and proportionate share of the net pension liability are measured as of one year behind the reporting date.
Refer to notes to basic financial statements.
Benefit Changes : None
Changes of Assumptions : None
See Notes to Required Supplementary Information. 65
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Changes in Net OPEB Liability and Related Ratios
As of June 30, for the Last Ten Fiscal Years 1
2025 2024 2023 2022
Measurement Date 6/30/2024 6/30/2023 6/30/2022 6/30/2021
Reporting Date 1
TOTAL OPEB LIABILITY
Service cost 74,147$ 72,163$ 76,892$ 74,834$
Interest on the total OPEB liability 80,965 73,978 74,864 67,934
Actual and expected experience difference (166,175) (465) (162,768) -
Changes in assumptions - - 23,517 -
Benefit payments (30,900) (19,863) (30,784) (15,768)
Net change in total OPEB liability (41,963) 125,813 (18,279) 127,000
Total OPEB liability-beginning 1,386,464 1,260,651 1,278,930 1,151,930
Total OPEB liability-ending (a)1,344,501 1,386,464 1,260,651 1,278,930
PLAN FIDUCIARY NET POSITION
Contribution - employer 118,900 107,863 118,784 103,768
Net investment income 75,772 49,997 34,017 32,264
Actual and expected experience difference - - (23,947) (89,300)
Benefit payments (30,900) (19,863) (30,784) (15,768)
Administrative expense (648) (610) (486) (440)
Net change in fiduciary net position 163,124 137,387 97,584 30,524
Plan fiduciary net position-beginning 782,823 645,436 547,852 517,328
Plan fiduciary net position-ending (b)945,947 782,823 645,436 547,852
Net OPEB liability/(asset) (a) - (b)398,554$ 603,641$ 615,215$ 731,078$
Plan fiduciary net position as a percentage of the
total OPEB liability 70.4%56.5%51.2%42.8%
Covered-employee payroll 5,770,674$ 5,404,127$ 5,433,199$ 5,417,136$
Plan net OPEB liability/(asset) as a percentage of
covered-employee payroll 6.9%11.2%11.3%13.5%
Benefit Changes : None
1 Fiscal year 2018 was the first year of GASB Statement No. 75 implementation; therefore only eight years are shown.
Changes of Assumptions : None
1 The proportions and proportionate share of the net pension liability are measured as of one year behind the reporting date. Refer to notes to
basic financial statements.
See Notes to Required Supplementary Information. 66
2021 2020 2019 2018
6/30/2020 6/30/2019 6/30/2018 6/30/2017
43,235$ 41,976$ 57,513$ 55,838$
57,448 53,641 46,352 41,616
(54,653) 7,817 - -
186,125 10,172 - -
(32,136) (28,427) (19,058) (17,988)
200,019 85,179 84,807 79,466
951,911 866,732 781,925 702,459
1,151,930 951,911 866,732 781,925
32,136 116,427 106,186 102,579
27,335 20,741 18,278 7,102
34,612 1,529 - -
(32,136) (28,427) (19,058) (17,988)
(414) (302) (209) (132)
61,533 109,968 105,197 91,561
455,795 345,827 240,630 149,069
517,328 455,795 345,827 240,630
634,602$ 496,116$ 520,905$ 541,295$
44.9%47.9%39.9%30.8%
6,113,473$ 5,077,171$ 5,163,684$ 4,680,371$
10.4%9.8%10.1%11.6%
Changes of Assumptions: None
See Notes to Required Supplementary Information. 67
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Plan Contributions
As of June 30, for the Last Ten Fiscal Years
Covered/Contribution as a
Fiscal Year Actuarially Actual Contribution Covered-% of Covered/
Reporting Date 1 Determined Employer Deficiency Employee Covered Employee
June 30,Contribution Contributions (Excess)Payroll Payroll
2025 672,607$ 1,438,916$ (766,309)$ 5,967,080$ 24.1%
2024 403,553 1,230,051 (826,498) 5,770,674 21.3%
2023 1,157,713 1,157,713 - 5,404,127 21.4%
2022 1,243,813 1,243,813 - 5,433,199 22.9%
2021 939,844 939,844 - 5,417,136 17.3%
2020 1,005,631 1,005,631 - 5,227,663 19.2%
2019 710,349 710,349 - 5,077,171 14.0%
2018 418,349 618,219 (199,870) 5,088,134 12.2%
2017 386,806 542,557 (155,751) 4,680,371 11.6%
2016 460,471 587,648 (127,177) 4,551,711 12.9%
2025 118,900$ 118,900$ -$ 5,967,080$ 2.0%
2024 107,863 107,863 - 5,770,674 1.9%
2023 106,000 106,000 - 5,404,127 2.0%
2022 103,768 103,768 - 5,433,199 1.9%
2021 32,136 32,136 - 5,417,136 0.6%
2020 116,427 116,427 - 6,113,473 1.9%
2019 87,129 106,186 (19,057) 5,077,171 2.1%
2018 84,591 102,579 (17,988) 5,163,684 2.0%
Notes to Schedule:
1 Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the
first year of implementation. Future years' information will be displayed up to 10 years as information becomes available.
* Actuarial methods and assumtions used to set the actuarially determiend contribution for Fiscal Year 2023 were from the
June 30, 2024 actuarial valuation.
Single Employer OPEB Plan
Miscellaneous Plan
See Notes to Required Supplementary Information. 68
CITY OF DIAMOND BAR, CALIFORNIA
Notes to Required Supplementary Information
For the Year Ended June 30, 2025
NOTE 1: STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
A. Budgetary Data
General Budget Policies
The City adopts an annual budget prepared on the modified accrual basis of accounting for its governmental funds
and on the accrual basis of accounting for its proprietary funds. The City Manager or his designee is authorized to
transfer budgeted amounts between the accounts of any department or funds that are approved by City Council.
Prior year appropriations lapse unless they are approved for carryover into the following fiscal year. Expenditures
may not legally exceed appropriations at the department level.
Budget Basis of Accounting
Budgets for governmental funds are adopted on a basis consistent with generally accepted accounting principles
(GAAP).
Compliance with Budgetary Limitations
The General Fund City Attorney, Finance, Animal Control, Planning, and Public Works administration departments
exceeded appropriations by $197,235, $553, $8,682, $57,030, and $9,198, respectively, for the year ended
June 30, 2025. The General Fund did not exceed total budgeted appropriations.
The Transportation Grant, Hazard Mitigation Grant, and Local Roadway Safety Plan special revenue funds did not
adopt budgets for the fiscal year ended June 30, 2025.
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70
SUPPLEMENTARY SCHEDULE
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72
Special Revenue Fund Descriptions
Special Revenue Funds are used to account for taxes and other revenues set aside in accordance with law or
administrative regulation for a specific purpose.
State Gas Tax – To account for state-shared highway users’ tax that is restricted to use for street maintenance, right
of-way acquisition and street construction.
Proposition A – To account for the City share of an additional one-half percent sales tax designated to fund certain
public transportation-oriented projects.
Proposition C – To account for sales taxes received from the County of Los Angeles and used to support public
transit and related services.
Transportation Grant Fund – The Federal Government has created a Federal Surface Transportation Program that
allocates funds for various improvements to the nation’s streets and roads. This fund has been established to
account for the City’s arterial rehabilitation activity.
Integrated Waste Management – To account for expenditures and revenues related to the activities involved with
the City's efforts to comply with AB939. Revenues recorded in this fund are the adopted waste hauler fees and
funds received from the State for recycling education and efforts.
Sewer Mitigation - To account for funds which have been received from development projects and designated by
the City Council for sewer facility mitigation/improvement projects.
Air Quality Improvement – To account for AB2766 fees received to fund programs to reduce air pollution from motor
vehicles.
Measure M Local Return – To account for the half-cent sales tax and continued half-cent relief tax partially
distributed to cities approved by the Los Angeles County voters in November 2016 to fund transportation needs.
Road Maintenance & Rehab – To account for transportation taxes allocated to cities and counties through the
Road Maintenance and Rehabilitation Account (RMRA) established by the Road Repair and Accountability Act of
2017 (SB1) for use on eligible local streets and roads projects.
Trails & Bikeways – The State allocates funds to cities for the specific purpose of the construction of bike and
pedestrian paths via SB821. This fund has been established to account for transactions related to the receipt and
expenditure of these funds.
Beverage Center Recycling Grant – The Department of Resources Recycling and Recovery (CalRecycle)
administers this annual grant program to provide cities with the opportunity to offer beverage container recycling
programs, including aluminum, glass, plastic and bi-metal.
Used Oil Block Grant – The Department of Resources Recycling and Recovery (CalRecycle) administers the annual
Used Oil Payment Program (OPP) grant program to provide cities with the opportunity to offer used oil recycling
and disposal programs.
Park and Facility Development – Within the California Subdivision Map Act is a requirement that developers either
contribute land or pay fees to the local municipal government to provide recreational facilities within the development
area. This fund is used to account for the fees received.
CDBG – To account for CDBG allocations received and expenditures incurred for allowable projects; primarily home
improvements of eligible households.
COPS – This fund accounts for revenue from the State restricted for supplementing police operations.
Landscape Maintenance District – To account for special assessment collections from benefited properties for
landscape maintenance activities.
73
Measure R Local Return – To account for the half-cent sales tax approved by the Los Angeles County voters in
November 2008 to meet transportation needs, including maintenance and improvement of arterial streets, traffic
control, bikeway and pedestrian improvements, and public transit.
PEG Fees – To account for the fees received from the cable operators for administration and improvement to any
public, educational, and government access television.
Waste Hauler – To account for funds received from the City's Waste Hauler in order to mitigate damage to City
streets by large trash trucks.
CASP Fees (SB1186) – SB 1186 requires that a $4 additional fee is to be paid by any applicant seeking
a local business license when it is initially issued or renewed. From January 1, 2018 through
December 31, 2023, the City will retain 90% of the fees collected. The purpose of the fee is to increase disability
access and compliance with construction-related accessibility
Street Beautification – This fund was established in FY 2017/2018 as a result of funds received from development
projects to be used towards the Diamond Bar Complete Streets improvements as well as other identified capital
improvement streetscape or complete streets projects as conditioned by the development projects entitlements.
Local Roadway Safety Plan Fund - The City received a grant from the California Department of Transportation
(Caltrans) to develop a Local Roadway Safety Plan to help identify and prioritize safety improvements to the local
roadways within the City. Completion of a LRSP is a perquisite for any grant funding opportunities that the City may
seek under the State’s Highway Safety Improvement Program.
Measure W Local Return – To account for the City’s share of the California parcel tax increase of $0.025 per square
foot of impermeable property for funding projects in accordance with the expenditure plan pursuant to the Los
Angeles Region, Safe, Clean Water Program Projects.
Hazard Mitigation Grant – To account for the City's strategy to implement improvements and programs to lessen
community impacts in the event of natural hazard events.
Homelessness Response – Special Fund 107 was established in Fiscal Year 2023-24 to centralize the City's
revenues and expenses related to homelessness response.
PLHA – To account for monies received and expended by the City under the Permanent Local Housing Allocation
Program, a State of California funded program created to provide an ongoing source of funding to local governments
for housing-related projects and programs that assist in addressing the unmet housing needs of their local
communities.
Debt Service Fund Descriptions
Debt Service Funds are used to account for the receipt of revenues and payments of debt service related to
outstanding bonds.
Public Financing Authority - To accumulate monies for the payment of interest and principal of the 2021 lease
revenue refunding bonds.
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75
CITY OF DIAMOND BAR, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
ASSETS
Cash and investments 551,070$ 2,749,524$ 1,445,499$ 1,072$
Receivables:
Accounts - - - -
Taxes 129,867 6,264 - -
Notes and loans - - - -
Restricted assets:
Cash and investments with fiscal agents - - - -
Total assets 680,937 2,755,788 1,445,499 1,072
LIABILITIES
Accounts payable - 93,171 62,759 -
Accrued liabilities - 18,965 8,714 -
Retainage payable (85) - - -
Unearned revenue - - - -
Due to other governments - - - -
Due to other funds - - - -
Total liabilities (85) 112,136 71,473 -
FUND BALANCES (DEFICITS)
Restricted for:
Community development projects - - - -
Public safety - - - -
Highways and streets 681,022 2,643,652 1,374,026 1,072
Capital projects - - - -
Unassigned - - - -
Total fund balances (deficits)681,022 2,643,652 1,374,026 1,072
Total liabilities, deferred inflows of resources,
and fund balances (deficits)680,937$ 2,755,788$ 1,445,499$ 1,072$
State Gas Tax Proposition A Proposition C
Special Revenue Funds
Transportation
Grant
76
CITY OF DIAMOND BAR, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
ASSETS
Cash and investments
Receivables:
Accounts
Taxes
Notes and loans
Restricted assets:
Cash and investments with fiscal agents
Total assets
LIABILITIES
Accounts payable
Accrued liabilities
Retainage payable
Unearned revenue
Due to other governments
Due to other funds
Total liabilities
FUND BALANCES (DEFICITS)
Restricted for:
Community development projects
Public safety
Highways and streets
Capital projects
Unassigned
Total fund balances (deficits)
Total liabilities, deferred inflows of resources,
and fund balances (deficits)
(Continued)
2,555,514$ 63,641$ 190,761$ 1,470,845$
175,479 - 18,565 -
- - - -
- - - -
- - - -
2,730,993 63,641 209,326 1,470,845
14,700 - - 16
27,435 - - 1,812
- - - -
80,519 - - -
- - - -
- - - -
122,654 - - 1,828
2,608,339 - - -
- - - -
- 63,641 - -
- - 209,326 1,469,017
- - - -
2,608,339 63,641 209,326 1,469,017
2,730,993$ 63,641$ 209,326$ 1,470,845$
Special Revenue Funds
Integrated
Waste
Management
Sewer
Mitigation
Air Quality
Improvement
Measure M
Local Return
77
CITY OF DIAMOND BAR, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
ASSETS
Cash and investments
Receivables:
Accounts
Taxes
Notes and loans
Restricted assets:
Cash and investments with fiscal agents
Total assets
LIABILITIES
Accounts payable
Accrued liabilities
Retainage payable
Unearned revenue
Due to other governments
Due to other funds
Total liabilities
FUND BALANCES (DEFICITS)
Restricted for:
Community development projects
Public safety
Highways and streets
Capital projects
Unassigned
Total fund balances (deficits)
Total liabilities, deferred inflows of resources,
and fund balances (deficits)
2,323,989$ 659$ 130,584$ 30,094$
264,273 - - -
- - - -
- - - -
- - - -
2,588,262 659 130,584 30,094
75,170 - - 450
- - - -
3,956 - - -
- - - -
- - - -
- - - -
79,126 - - 450
- 659 130,584 29,644
- - - -
2,509,136 - - -
- - - -
- - - -
2,509,136 659 130,584 29,644
2,588,262$ 659$ 130,584$ 30,094$
Trails &
Bikeways
Beverage
Center
Recycling
Grant
Used Oil
Block Grant
Road
Maintenance &
Rehab
Special Revenue Funds
78
CITY OF DIAMOND BAR, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
ASSETS
Cash and investments
Receivables:
Accounts
Taxes
Notes and loans
Restricted assets:
Cash and investments with fiscal agents
Total assets
LIABILITIES
Accounts payable
Accrued liabilities
Retainage payable
Unearned revenue
Due to other governments
Due to other funds
Total liabilities
FUND BALANCES (DEFICITS)
Restricted for:
Community development projects
Public safety
Highways and streets
Capital projects
Unassigned
Total fund balances (deficits)
Total liabilities, deferred inflows of resources,
and fund balances (deficits)
(Continued)
2,484,104$ -$ 473,676$ 1,098,475$
250,000 125,527 - -
- - - 6,556
- 494,942 - -
- - - -
2,734,104 620,469 473,676 1,105,031
- 88,747 - 260,645
- 27 - 5,355
- 4,045 - -
- - - -
- 494,942 - -
- 39,971 - -
- 627,732 - 266,000
2,734,104 - - -
- - 473,676 -
- - - -
- - - 839,031
- (7,263) - -
2,734,104 (7,263) 473,676 839,031
2,734,104$ 620,469$ 473,676$ 1,105,031$
Park and
Facility
Development CDBG COPS
Landscape
Maintenance
District
Special Revenue Funds
79
CITY OF DIAMOND BAR, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
ASSETS
Cash and investments
Receivables:
Accounts
Taxes
Notes and loans
Restricted assets:
Cash and investments with fiscal agents
Total assets
LIABILITIES
Accounts payable
Accrued liabilities
Retainage payable
Unearned revenue
Due to other governments
Due to other funds
Total liabilities
FUND BALANCES (DEFICITS)
Restricted for:
Community development projects
Public safety
Highways and streets
Capital projects
Unassigned
Total fund balances (deficits)
Total liabilities, deferred inflows of resources,
and fund balances (deficits)
1,362,948$ 492,271$ 272,099$ 65,233$
- - - -
- 15,065 - -
- - - -
- - - -
1,362,948 507,336 272,099 65,233
9 14,350 - 227
984 - - -
- - - -
- - - -
- - - -
- - - -
993 14,350 - 227
- 492,986 - 65,006
- - - -
1,361,955 - 272,099 -
- - - -
- - - -
1,361,955 492,986 272,099 65,006
1,362,948$ 507,336$ 272,099$ 65,233$
CASP Fees
(SB1186)
Measure R
Local Return PEG Fees Waste Hauler
Special Revenue Funds
80
CITY OF DIAMOND BAR, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
ASSETS
Cash and investments
Receivables:
Accounts
Taxes
Notes and loans
Restricted assets:
Cash and investments with fiscal agents
Total assets
LIABILITIES
Accounts payable
Accrued liabilities
Retainage payable
Unearned revenue
Due to other governments
Due to other funds
Total liabilities
FUND BALANCES (DEFICITS)
Restricted for:
Community development projects
Public safety
Highways and streets
Capital projects
Unassigned
Total fund balances (deficits)
Total liabilities, deferred inflows of resources,
and fund balances (deficits)
(Continued)
374,653$ -$ 1,968,085$ 5,815$
- - - -
- - - -
- - - -
- - - -
374,653 - 1,968,085 5,815
- - 56,703 -
- - 6,737 -
- - - -
- - - -
- - - -
- 92 - -
- 92 63,440 -
- - - -
- - - 5,815
374,653 - 1,904,645 -
- - - -
- (92) - -
374,653 (92) 1,904,645 5,815
374,653$ -$ 1,968,085$ 5,815$
Street
Beautification
Local
Roadway
Safety Plan
Special Revenue Funds
Measure W
Local Return
Hazard
Mitigation
Grant
81
CITY OF DIAMOND BAR, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
ASSETS
Cash and investments
Receivables:
Accounts
Taxes
Notes and loans
Restricted assets:
Cash and investments with fiscal agents
Total assets
LIABILITIES
Accounts payable
Accrued liabilities
Retainage payable
Unearned revenue
Due to other governments
Due to other funds
Total liabilities
FUND BALANCES (DEFICITS)
Restricted for:
Community development projects
Public safety
Highways and streets
Capital projects
Unassigned
Total fund balances (deficits)
Total liabilities, deferred inflows of resources,
and fund balances (deficits)
Debt Service
Funds
Total
Nonmajor
Funds
77,064$ -$ 19$ 20,187,694$
- - - 833,844
- - - 157,752
- 112,474 - 607,416
- - 1,466 1,466
77,064 112,474 1,485 21,788,172
- 42,916 16,101 725,964
- - - 70,029
- - - 7,916
- - - 80,519
- 112,474 - 607,416
- 78,004 - 118,067
- 233,394 16,101 1,609,911
77,064 - - 6,138,386
- - - 479,491
- - - 11,185,901
- - - 2,517,374
- (120,920) (14,616) (142,891)
77,064 (120,920) (14,616) 20,178,261
77,064$ 112,474$ 1,485$ 21,788,172$
Public Financing
Authority
Special Revenue Funds
Homelessness
Response PLHA
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83
CITY OF DIAMOND BAR, CALIFORNIA
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
REVENUES
Taxes -$ 25,954$ -$ -$
Licenses and permits - - - -
Intergovernmental 1,526,250 1,400,649 1,161,803 -
Charges for services - 58,788 - -
Use of money and property 61,400 145,864 134,994 -
Miscellaneous - - - -
Total revenues 1,587,650 1,631,255 1,296,797 -
EXPENDITURES
Current:
General government - - - -
Public safety - - - -
Community development - - - -
Parks and recreation - 25,527 - -
Public works - 1,917,072 797,768 -
Capital outlay - - - -
Debt service:
Principal retirement - - - -
Interest and fiscal charges - - - -
Total expenditures - 1,942,599 797,768 -
Excess (deficiency) of revenues
over (under) expenditures 1,587,650 (311,344) 499,029 -
OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out (1,521,653) (38,947) (2,431,551) -
Total other financing sources (uses)(1,521,653) (38,947) (2,431,551) -
Net change in fund balances 65,997 (350,291) (1,932,522) -
Fund balances (deficit)-beginning 615,025 2,993,943 3,306,548 1,072
Fund balances (deficit)-ending 681,022$ 2,643,652$ 1,374,026$ 1,072$
Special Revenue Funds
State Gas Tax Proposition A Proposition C
Transportation
Grant
84
CITY OF DIAMOND BAR, CALIFORNIA
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
REVENUES
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficit)-beginning
Fund balances (deficit)-ending
(Continued)
-$ -$ -$ -$
- - - -
65,798 - 71,092 987,030
906,854 - - -
129,913 3,500 8,114 80,499
50,230 - - -
1,152,795 3,500 79,206 1,067,529
- - - -
- - - -
714,444 - - -
- - - -
- - 1,050 23,140
- - - -
- - - -
- - - -
714,444 - 1,050 23,140
438,351 3,500 78,156 1,044,389
- - - -
- - - (925,803)
- - - (925,803)
438,351 3,500 78,156 118,586
2,169,988 60,141 131,170 1,350,431
2,608,339$ 63,641$ 209,326$ 1,469,017$
Special Revenue Funds
Integrated
Waste
Management
Sewer
Mitigation
Air Quality
Improvement
Measure M
Local Return
85
CITY OF DIAMOND BAR, CALIFORNIA
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
REVENUES
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficit)-beginning
Fund balances (deficit)-ending
-$ -$ -$ -$
- - - -
1,499,672 - 13,618 7,833
- - - -
199,682 - 7,138 1,603
- - - -
1,699,354 - 20,756 9,436
- - - -
- - - -
- - 12,763 9,097
- 4,420 - -
- - - -
79,126 - - -
- - - -
- - - -
79,126 4,420 12,763 9,097
1,620,228 (4,420) 7,993 339
- - - -
(3,779,186) (26,439) - -
(3,779,186) (26,439) - -
(2,158,958) (30,859) 7,993 339
4,668,094 31,518 122,591 29,305
2,509,136$ 659$ 130,584$ 29,644$
Special Revenue Funds
Trails &
Bikeways
Beverage
Center
Recycling
Grant
Used Oil
Block Grant
Road
Maintenance &
Rehab
86
CITY OF DIAMOND BAR, CALIFORNIA
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
REVENUES
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficit)-beginning
Fund balances (deficit)-ending
(Continued)
-$ -$ -$ 1,237,386$
- - - -
1,250,000 341,104 194,663 -
- - - -
171,836 - 28,957 2,561
925,314 - - -
2,347,150 341,104 223,620 1,239,947
- - - -
- - 4,800 -
- 127,094 - -
- 32,298 - -
- - - 1,288,254
925,314 87,443 - -
- - - -
- - - -
925,314 246,835 4,800 1,288,254
1,421,836 94,269 218,820 (48,307)
- - - 55,992
(1,355,309) (101,421) (152,500) -
(1,355,309) (101,421) (152,500) 55,992
66,527 (7,152) 66,320 7,685
2,667,577 (111) 407,356 831,346
2,734,104$ (7,263)$ 473,676$ 839,031$
Special Revenue Funds
Park and
Facility
Development CDBG COPS
Landscape
Maintenance
District
87
CITY OF DIAMOND BAR, CALIFORNIA
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
REVENUES
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficit)-beginning
Fund balances (deficit)-ending
-$ 65,909$ -$ -$
- - 122,946 7,690
871,191 - - -
- - - -
65,316 31,973 14,377 3,303
- - - -
936,507 97,882 137,323 10,993
- 34,764 - -
- - - -
- - - -
- - - -
18,461 - - -
- - - -
- - - -
- - - -
18,461 34,764 - -
918,046 63,118 137,323 10,993
- - - -
(662,494) (292,418) (140,871) -
(662,494) (292,418) (140,871) -
255,552 (229,300) (3,548) 10,993
1,106,403 722,286 275,647 54,013
1,361,955$ 492,986$ 272,099$ 65,006$
Special Revenue Funds
CASP Fees
(SB1186)
Measure R
Local Return PEG Fees Waste Hauler
88
CITY OF DIAMOND BAR, CALIFORNIA
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
REVENUES
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficit)-beginning
Fund balances (deficit)-ending
(Continued)
-$ -$ -$ -$
- - - -
- - 842,223 -
- - - -
20,604 - 95,965 347
- - - -
20,604 - 938,188 347
- - 3,750 -
- - - -
- - - -
- - - -
- - 403,560 -
- - - -
- - - -
- - - -
- - 407,310 -
20,604 - 530,878 347
- - - -
- - (245,159) -
- - (245,159) -
20,604 - 285,719 347
354,049 (92) 1,618,926 5,468
374,653$ (92)$ 1,904,645$ 5,815$
Special Revenue Funds
Street
Beautification
Local
Roadway
Safety Plan
Measure W
Local Return
Hazard
Mitigation
Grant
89
CITY OF DIAMOND BAR, CALIFORNIA
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2025
REVENUES
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total revenues
EXPENDITURES
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficit)-beginning
Fund balances (deficit)-ending
Debt Service
Funds
Total
Nonmajor
Funds
-$ -$ -$ 1,329,249$
- - - 130,636
- 30,417 - 10,263,343
- - - 965,642
124 - 1,975 1,210,045
- - - 975,544
124 30,417 1,975 14,874,459
22,146 - - 60,660
- - - 4,800
- 151,337 - 1,014,735
- - - 62,245
- - - 4,449,305
- - - 1,091,883
- - 505,000 505,000
- - 232,500 232,500
22,146 151,337 737,500 7,421,128
(22,022) (120,920) (735,525) 7,453,331
50,000 - 717,935 823,927
- - - (11,673,751)
50,000 - 717,935 (10,849,824)
27,978 (120,920) (17,590) (3,396,493)
49,086 - 2,974 23,574,754
77,064$ (120,920)$ (14,616)$ 20,178,261$
Special Revenue Funds
Homelessness
Response PLHA
Public
Financing
Authority
90
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
State Gas Tax
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 1,500,197$ 1,500,197$ 1,526,250$ 26,053$
Use of money and property 1,800 1,800 61,400 59,600
Total revenues 1,501,997 1,501,997 1,587,650 85,653
EXPENDITURES
Current:
Public works 66,000 66,000 - 66,000
Total expenditures 66,000 66,000 - 66,000
Excess (deficiency) of revenues
over (under) expenditures 1,435,997 1,435,997 1,587,650 151,653
OTHER FINANCING SOURCES (USES)
Transfers out (1,475,000) (1,734,671) (1,521,653) 213,018
Total other financing sources (uses)(1,475,000) (1,734,671) (1,521,653) 213,018
Net change in fund balances (39,003)$ (298,674)$ 65,997 364,671$
Fund balances-beginning 615,025
Fund balances-ending 681,022$
91
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Proposition A
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes 26,000$ 26,000$ 25,954$ (46)$
Intergovernmental 1,501,428 1,501,428 1,400,649 (100,779)
Charges for services 200,000 200,000 58,788 (141,212)
Use of money and property 2,700 2,700 145,864 143,164
Total revenues 1,730,128 1,730,128 1,631,255 (98,873)
EXPENDITURES
Current:
Parks and recreation 13,500 28,500 25,527 2,973
Public works 1,587,157 2,930,490 1,917,072 1,013,418
Total expenditures 1,600,657 2,958,990 1,942,599 1,016,391
Excess (deficiency) of revenues
over (under) expenditures 129,471 (1,228,862) (311,344) 917,518
OTHER FINANCING SOURCES (USES)
Transfers out - (44,056) (38,947) 5,109
Total other financing sources (uses)- (44,056) (38,947) 5,109
Net change in fund balances 129,471$ (1,272,918)$ (350,291) 922,627$
Fund balances-beginning 2,993,943
Fund balances-ending 2,643,652$
92
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Proposition C
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 1,245,395$ 1,245,395$ 1,161,803$ (83,592)$
Use of money and property 9,500 9,500 134,994 125,494
Total revenues 1,254,895 1,254,895 1,296,797 41,902
EXPENDITURES
Current:
Public works 1,534,284 1,734,284 797,768 936,516
Total expenditures 1,534,284 1,734,284 797,768 936,516
Excess (deficiency) of revenues
over (under) expenditures (279,389) (479,389) 499,029 978,418
OTHER FINANCING SOURCES (USES)
Transfers out - (2,760,342) (2,431,551) 328,791
Total other financing sources (uses)- (2,760,342) (2,431,551) 328,791
Net change in fund balances (279,389)$ (3,239,731)$ (1,932,522) 1,307,209$
Fund balances-beginning 3,306,548
Fund balances-ending 1,374,026$
93
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Integrated Waste Management
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 146,317$ 146,317$ 65,798$ (80,519)$
Charges for services 636,000 709,600 906,854 197,254
Use of money and property 14,700 14,700 129,913 115,213
Miscellaneous 14,526 14,526 50,230 35,704
Total revenues 811,543 885,143 1,152,795 267,652
EXPENDITURES
Current:
Community development 918,890 966,873 714,444 252,429
Total expenditures 918,890 966,873 714,444 252,429
Excess (deficiency) of revenues
over (under) expenditures (107,347) (81,730) 438,351 520,081
OTHER FINANCING SOURCES (USES)
Transfers out (10,000) (10,000) - 10,000
Total other financing sources (uses)(10,000) (10,000) - 10,000
Net change in fund balances (117,347)$ (91,730)$ 438,351 530,081$
Fund balances-beginning 2,169,988
Fund balances-ending 2,608,339$
94
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Sewer Mitigation
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property 400$ 400$ 3,500$ 3,100$
Total revenues 400 400 3,500 3,100
Net change in fund balances 400$ 400$ 3,500 3,100$
Fund balances-beginning 60,141
Fund balances-ending 63,641$
95
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Air Quality Improvement
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 73,000$ 73,000$ 71,092$ (1,908)$
Use of money and property 2,100 2,100 8,114 6,014
Total revenues 75,100 75,100 79,206 4,106
EXPENDITURES
Current:
Public works 50,000 50,000 1,050 48,950
Capital outlay 34,000 34,000 - 34,000
Total expenditures 84,000 84,000 1,050 82,950
Excess (deficiency) of revenues
over (under) expenditures (8,900) (8,900) 78,156 87,056
OTHER FINANCING SOURCES (USES)
Transfers out (70,000) (70,000) - 70,000
Total other financing sources (uses)(70,000) (70,000) - 70,000
Net change in fund balances (78,900)$ (78,900)$ 78,156 157,056$
Fund balances-beginning 131,170
Fund balances-ending 209,326$
96
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Measure M Local Return
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 1,058,586$ 1,058,586$ 987,030$ (71,556)$
Use of money and property 7,400 7,400 80,499 73,099
Total revenues 1,065,986 1,065,986 1,067,529 1,543
EXPENDITURES
Current:
Public works 969,078 969,078 23,140 945,938
Total expenditures 969,078 969,078 23,140 945,938
Excess (deficiency) of revenues
over (under) expenditures 96,908 96,908 1,044,389 947,481
OTHER FINANCING SOURCES (USES)
Transfers out - (1,064,037) (925,803) 138,234
Total other financing sources (uses)- (1,064,037) (925,803) 138,234
Net change in fund balances 96,908$ (967,129)$ 118,586 1,085,715$
Fund balances-beginning 1,350,431
Fund balances-ending 1,469,017$
97
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Road Maintenance & Rehab
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 1,406,837$ 1,406,837$ 1,499,672$ 92,835$
Use of money and property 12,900 12,900 199,682 186,782
Total revenues 1,419,737 1,419,737 1,699,354 279,617
EXPENDITURES
Capital outlay 1,300,000 1,300,000 79,126 1,220,874
Total expenditures 1,300,000 1,300,000 79,126 1,220,874
Excess (deficiency) of revenues
over (under) expenditures 119,737 119,737 1,620,228 1,500,491
OTHER FINANCING SOURCES (USES)
Transfers out - (4,225,007) (3,779,186) 445,821
Total other financing sources (uses)- (4,225,007) (3,779,186) 445,821
Net change in fund balances 119,737$ (4,105,270)$ (2,158,958) 1,946,312$
Fund balances-beginning 4,668,094
Fund balances-ending 2,509,136$
98
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Trails & Bikeways
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 100,000$ 100,000$ -$ (100,000)$
Total revenues 100,000 100,000 - (100,000)
EXPENDITURES
Current:
Parks and recreation - - 4,420 (4,420)
Capital outlay 100,000 100,000 - 100,000
Total expenditures 100,000 100,000 4,420 95,580
Excess (deficiency) of revenues
over (under) expenditures - - (4,420) (4,420)
OTHER FINANCING SOURCES (USES)
Transfers out - (31,519) (26,439) 5,080
Total other financing sources (uses)- (31,519) (26,439) 5,080
Net change in fund balances -$ (31,519)$ (30,859) 660$
Fund balances-beginning 31,518
Fund balances-ending 659$
99
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Beverage Center Recycling Grant
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 13,000$ 13,000$ 13,618$ 618$
Use of money and property 1,800 1,800 7,138 5,338
Total revenues 14,800 14,800 20,756 5,956
EXPENDITURES
Current:
Community development 14,000 19,579 12,763 6,816
Total expenditures 14,000 19,579 12,763 6,816
Net change in fund balances 800$ (4,779)$ 7,993 12,772$
Fund balances-beginning 122,591
Fund balances-ending 130,584$
100
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Used Oil Block Grant
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 7,771$ 7,771$ 7,833$ 62$
Use of money and property 200 200 1,603 1,403
Total revenues 7,971 7,971 9,436 1,465
EXPENDITURES
Current:
Community development 9,171 9,171 9,097 74
Total expenditures 9,171 9,171 9,097 74
Net change in fund balances (1,200)$ (1,200)$ 339 1,539$
Fund balances-beginning 29,305
Fund balances-ending 29,644$
101
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Park and Facility Development
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental -$ 1,000,000$ 1,250,000$ 250,000$
Use of money and property 7,800 7,800 171,836 164,036
Miscellaneous - - 925,314 925,314
Total revenues 7,800 1,007,800 2,347,150 1,339,350
EXPENDITURES
Capital outlay - - 925,314 (925,314)
Total expenditures - - 925,314 (925,314)
Excess (deficiency) of revenues
over (under) expenditures 7,800 1,007,800 1,421,836 414,036
OTHER FINANCING SOURCES (USES)
Transfers out - (1,864,955) (1,355,309) 509,646
Total other financing sources (uses)- (1,864,955) (1,355,309) 509,646
Net change in fund balances 7,800$ (857,155)$ 66,527 923,682$
Fund balances-beginning 2,667,577
Fund balances-ending 2,734,104$
102
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
CDBG
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 362,376$ 362,376$ 341,104$ (21,272)$
Total revenues 362,376 362,376 341,104 (21,272)
EXPENDITURES
Current:
Community development 171,902 181,057 127,094 53,963
Parks and recreation 26,285 26,285 32,298 (6,013)
Capital Outlay 164,189 164,189 87,443 76,746
Total expenditures 362,376 371,531 246,835 124,696
Excess (deficiency) of revenues
over (under) expenditures - (9,155) 94,269 103,424
OTHER FINANCING SOURCES (USES)
Transfers out - (141,299) (101,421) 39,878
Total other financing sources (uses)- (141,299) (101,421) 39,878
Net change in fund balances -$ (150,454)$ (7,152) 143,302$
Fund balances (deficit)-beginning (111)
Fund balances (deficit)-ending (7,263)$
103
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
COPS
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 165,000$ 165,000$ 194,663$ 29,663$
Use of money and property 3,200 3,200 28,957 25,757
Total revenues 168,200 168,200 223,620 55,420
EXPENDITURES
Current:
Public safety 10,000 10,000 4,800 5,200
Total expenditures 10,000 10,000 4,800 5,200
Excess (deficiency) of revenues
over (under) expenditures 158,200 158,200 218,820 60,620
OTHER FINANCING SOURCES (USES)
Transfers out (152,500) (152,500) (152,500) -
Total other financing sources (uses)(152,500) (152,500) (152,500) -
Net change in fund balances 5,700$ 5,700$ 66,320 60,620$
Fund balances-beginning 407,356
Fund balances-ending 473,676$
104
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Landscape Maintenance District
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes 1,253,341$ 1,253,341$ 1,237,386$ (15,955)$
Use of money and property - - 2,561 2,561
Total revenues 1,253,341 1,253,341 1,239,947 (13,394)
EXPENDITURES
Current:
Public works 1,617,810 1,617,810 1,288,254 329,556
Total expenditures 1,617,810 1,617,810 1,288,254 329,556
Excess (deficiency) of revenues
over (under) expenditures (364,469) (364,469) (48,307) 316,162
OTHER FINANCING SOURCES (USES)
Transfers in 364,469 364,469 55,992 (308,477)
Total other financing sources (uses)364,469 364,469 55,992 (308,477)
Net change in fund balances -$ -$ 7,685 7,685$
Fund balances-beginning 831,346
Fund balances-ending 839,031$
105
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Measure R Local Return
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 934,046$ 934,046$ 871,191$ (62,855)$
Use of money and property 4,500 4,500 65,316 60,816
Total revenues 938,546 938,546 936,507 (2,039)
EXPENDITURES
Current:
Public works 869,078 869,078 18,461 850,617
Total expenditures 869,078 869,078 18,461 850,617
Excess (deficiency) of revenues
over (under) expenditures 69,468 69,468 918,046 848,578
OTHER FINANCING SOURCES (USES)
Transfers out - (988,132) (662,494) 325,638
Total other financing sources (uses)- (988,132) (662,494) 325,638
Net change in fund balances 69,468$ (918,664)$ 255,552 1,174,216$
Fund balances-beginning 1,106,403
Fund balances-ending 1,361,955$
106
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
PEG Fees
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes 100,000$ 100,000$ 65,909$ (34,091)$
Use of money and property 3,800 3,800 31,973 28,173
Total revenues 103,800 103,800 97,882 (5,918)
EXPENDITURES
Current:
General government 100,000 120,500 34,764 85,736
Total expenditures 100,000 120,500 34,764 85,736
Excess (deficiency) of revenues
over (under) expenditures 3,800 (16,700) 63,118 79,818
OTHER FINANCING SOURCES (USES)
Transfers out - (323,059) (292,418) 30,641
Total other financing sources (uses)- (323,059) (292,418) 30,641
Net change in fund balances 3,800$ (339,759)$ (229,300) 110,459$
Fund balances-beginning 722,286
Fund balances-ending 492,986$
107
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Waste Hauler
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Licenses and permits -$ 157,000$ 122,946$ (34,054)$
Use of money and property 1,300 1,300 14,377 13,077
Total revenues 1,300 158,300 137,323 (20,977)
EXPENDITURES
Current:
Public works 250,000 250,000 - 250,000
Total expenditures 250,000 250,000 - 250,000
Excess (deficiency) of revenues
over (under) expenditures (248,700) (91,700) 137,323 229,023
OTHER FINANCING SOURCES (USES)
Transfers out - (162,260) (140,871) 21,389
Total other financing sources (uses)- (162,260) (140,871) 21,389
Net change in fund balances (248,700)$ (253,960)$ (3,548) 250,412$
Fund balances-beginning 275,647
Fund balances-ending 272,099$
108
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
CASP Fees (SB1186)
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Licenses and permits 8,000$ 8,000$ 7,690$ (310)$
Use of money and property 200 200 3,303 3,103
Total revenues 8,200 8,200 10,993 2,793
Net change in fund balances 8,200$ 8,200$ 10,993 2,793$
Fund balances-beginning 54,013
Fund balances-ending 65,006$
109
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Street Beautification
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property 2,400$ 2,400$ 20,604$ 18,204$
Total revenues 2,400 2,400 20,604 18,204
Net change in fund balances 2,400$ 2,400$ 20,604 18,204$
Fund balances-beginning 354,049
Fund balances-ending 374,653$
110
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Measure W Local Return
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 838,000$ 838,000$ 842,223$ 4,223$
Use of money and property - - 95,965 95,965
Total revenues 838,000 838,000 938,188 100,188
EXPENDITURES
Current:
General government 15,000 15,000 3,750 11,250
Public works 1,421,065 1,421,065 403,560 1,017,505
Total expenditures 1,436,065 1,436,065 407,310 1,028,755
Excess (deficiency) of revenues
over (under) expenditures (598,065) (598,065) 530,878 1,128,943
OTHER FINANCING SOURCES (USES)
Transfers out - (524,935) (245,159) 279,776
Total other financing sources (uses)- (524,935) (245,159) 279,776
Net change in fund balances (598,065)$ (1,123,000)$ 285,719 1,408,719$
Fund balances-beginning 1,618,926
Fund balances-ending 1,904,645$
111
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Hazard Mitigation Grant
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property -$ -$ 347$ 347$
Total revenues - - 347 347
Net change in fund balances -$ -$ 347 347$
Fund balances-beginning 5,468
Fund balances-ending 5,815$
112
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Homelessness Response
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property -$ -$ 124$ 124$
Total revenues - - 124 124
EXPENDITURES
Current:
General government 50,000 50,000 22,146 27,854
Total expenditures 50,000 50,000 22,146 27,854
Excess (deficiency) of revenues
over (under) expenditures (50,000) (50,000) (22,022) 27,978
OTHER FINANCING SOURCES (USES)
Transfers in 50,000 50,000 50,000 -
Total other financing sources (uses)50,000 50,000 50,000 -
Net change in fund balances -$ -$ 27,978 27,978$
Fund balances-beginning 49,086
Fund balances-ending 77,064$
113
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
PLHA
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 358,416$ 358,416$ 30,417$ (327,999)$
Total revenues 358,416 358,416 30,417 (327,999)
EXPENDITURES
Current:
Community development 358,416 358,416 151,337 207,079
Total expenditures 358,416 358,416 151,337 207,079
Net change in fund balances -$ -$ (120,920) (120,920)$
Fund balances (deficit)-beginning -
Fund balances (deficit)-ending (120,920)$
114
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Capital Improvement
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental 8,086,000$ 9,261,850$ -$ (9,261,850)$
Use of money and property - - 41,171 41,171
Total revenues 8,086,000 9,261,850 41,171 (9,220,679)
EXPENDITURES
Capital outlay 8,236,000 23,683,205 12,759,824 10,923,381
Total expenditures 8,236,000 23,683,205 12,759,824 10,923,381
Excess (deficiency) of revenues
over (under) expenditures (150,000) (14,421,355) (12,718,653) 1,702,702
OTHER FINANCING SOURCES (USES)
Transfers in 150,000 14,652,242 11,359,263 (3,292,979)
Total other financing sources (uses)150,000 14,652,242 11,359,263 (3,292,979)
Net change in fund balances -$ 230,888$ (1,359,390) (1,590,278)$
Fund balances (deficit)-beginning (415,120)
Fund balances (deficit)-ending (1,774,510)$
115
CITY OF DIAMOND BAR, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual
Public Financing Authority
For the Year Ended June 30, 2025
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Use of money and property -$ -$ 1,975$ 1,975$
Total revenues - - 1,975 1,975
EXPENDITURES
Debt service:
Principal retirement 505,000 505,000 505,000 -
Interest and fiscal charges 216,900 216,900 232,500 (15,600)
Total expenditures 721,900 721,900 737,500 (15,600)
Excess (deficiency) of revenues
over (under) expenditures (721,900) (721,900) (735,525) (13,625)
OTHER FINANCING SOURCES (USES)
Transfers in 721,900 721,900 717,935 (3,965)
Total other financing sources (uses)721,900 721,900 717,935 (3,965)
Net change in fund balances -$ -$ (17,590) (17,590)$
Fund balances (deficit)-beginning 2,974
Fund balances (deficit)-ending (14,616)$
116
CITY OF DIAMOND BAR, CALIFORNIA
Combining Statement of Net Position
Internal Service Funds
June 30, 2025
Total Internal
Service
Funds
ASSETS
Current assets:
Pooled cash and investments 495,439$ 563,856$ 1,541,288$ 2,395,644$ 4,996,227$
Due from other governments - - 28,346 - 28,346
Prepaid costs 560,784 - - - 560,784
Total current assets 1,056,223 563,856 1,569,634 2,395,644 5,585,357
Noncurrent:
Capital assets, net - 166,481 1,350,864 269,634 1,786,979
Total noncurrent assets - 166,481 1,350,864 269,634 1,786,979
Total assets 1,056,223 730,337 2,920,498 2,665,278 7,372,336
LIABILITIES
Current liabilities:
Accounts payable - 4,870 149,609 49,540 204,019
Retainage payable - - - 4,470 4,470
Total current liabilities - 4,870 149,609 54,010 208,489
Total liabilities - 4,870 149,609 54,010 208,489
NET POSITION
Net investment in capital assets - 166,481 1,350,864 265,164 1,782,509
Unrestricted 1,056,223 558,986 1,420,025 2,346,104 5,381,338
Total net position 1,056,223$ 725,467$ 2,770,889$ 2,611,268$ 7,163,847$
Self Insurance
Equipment
Replacement
Computer
Equipment
Replacement
Building
Facility &
Maintenance
117
CITY OF DIAMOND BAR, CALIFORNIA
Combining Statement of Revenues, Expenses and
Changes in Net Position
Internal Service Funds
For the Year Ended June 30, 2025
Total Internal
Service
Funds
OPERATING EXPENSES
Insurance premiums 534,118$ -$ -$ -$ 534,118$
Equipment repair and maintenance - 86,065 501,119 119,721 706,905
Depreciation/amortization expense - 39,645 110,158 21,809 171,612
Total operating expenses 534,118 125,710 611,277 141,530 1,412,635
Operating income (loss)(534,118) (125,710) (611,277) (141,530) (1,412,635)
NONOPERATING REVENUES (EXPENSES)
Interest revenue 35,355 23,495 81,793 130,025 270,668
Total nonoperating revenues (expenses)35,355 23,495 81,793 130,025 270,668
Income (loss) before transfers (498,763) (102,215) (529,484) (11,505) (1,141,967)
Transfers in 580,000 269,000 758,580 144,200 1,751,780
Change in net position 81,237 166,785 229,096 132,695 609,813
Net position-beginning 974,986 558,682 2,541,793 2,478,573 6,554,034
Net position-ending 1,056,223$ 725,467$ 2,770,889$ 2,611,268$ 7,163,847$
Self Insurance
Equipment
Replacement
Computer
Equipment
Replacement
Building
Facility &
Maintenance
118
CITY OF DIAMOND BAR, CALIFORNIA
Internal Service Fund
Combining Statement of Cash Flows
For the Year Ended June 30, 2025
Totals
CASH FLOWS FROM OPERATING ACTIVITIES
Payments to suppliers and service providers (1,094,902)$ (84,599)$ (446,115)$ (101,606)$ (1,727,222)$
Net cash provided by (used for)
operating activities (1,094,902) (84,599) (446,115) (101,606) (1,727,222)
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds 580,000 269,000 758,580 144,200 1,751,780
Net cash provided by (used for)
noncapital financing activities 580,000 269,000 758,580 144,200 1,751,780
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Capital grants and contributions - 20,000 - - 20,000
Acquisition and construction of capital assets - (29,119) (460,682) (88,442) (578,243)
Net cash provided by (used for)
capital and related financing activities - (9,119) (460,682) (88,442) (558,243)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments 35,355 23,495 81,793 130,025 270,668
Net cash provided by (used for)
investing activities 35,355 23,495 81,793 130,025 270,668
Net increase (decrease) in
cash (479,547) 198,777 (66,424) 84,177 (263,017)
Cash beginning 974,986 365,079 1,607,712 2,311,467 5,259,244
Cash ending 495,439$ 563,856$ 1,541,288$ 2,395,644$ 4,996,227$
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH PROVIDED BY (USED FOR)
OPERATING ACTIVITIES
Operating income (loss)(534,118)$ (125,710)$ (611,277)$ (141,530)$ (1,412,635)$
Adjustments to reconcile operating income (loss) to
net cash provided by (used for) operating activities:
Depreciation/amortization expense - 39,645 110,158 21,809 171,612
(Increase) decrease in prepaid items (560,784) - - - (560,784)
Increase (decrease) in accounts payable - 1,466 55,004 18,115 74,585
Total adjustments (560,784) 41,111 165,162 39,924 (314,587)$
Net cash provided by (used for)
operating activities (1,094,902)$ (84,599)$ (446,115)$ (101,606)$ (1,727,222)$
SCHEDULE OF NON-CASH NONCAPITAL, CAPITAL,
AND INVESTING ACTIVITIES
Unrealized gain/(loss) on fair value of investments (11,765)$ (7,819)$ (27,218)$ (43,269)$ (90,071)$
Increase in retainage payable - - - (2,475) (2,475)
Self
Insurance
Equipment
Replacement
Computer
Equipment
Replacement
Building
Facility &
Maintenance
119
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120
DESCRIPTION OF STATISTICAL SECTION CONTENTS
For the Year Ended June 30, 2025
This part of the City of Diamond Bar's annual comprehensive financial report presents detailed
information as a context for understanding what the information in the financial statements, note
disclosures, and required supplementary information say about the government's overall financial health.
Contents: Schedules
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.
Revenue Capacity - These schedules contain information to help the reader assess
the city's most significant local revenue source, the property tax.
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.
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.
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.
1 - 4
5 - 9
10 - 12
13 - 14
15 – 17
Capital Asset Statistics by Function 18
121
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122
Fiscal Year 2021 2022 2023 2024 2025
Governmental activities:
Net investment in capital assets 339,727,186$ 332,972,933$ 331,607,485$ 331,125,815$ 341,243,748$
Restricted for:
Capital projects 1,724,690 2,863,447 2,743,073 2,382,930 2,517,374
Community development 3,100,228 3,453,843 4,435,781 5,846,342 6,819,247
Public safety 346,594 347,228 366,818 412,824 479,491
Public works 13,772,296 19,187,254 21,761,109 23,306,048 20,192,771
Debt service 22,776 75 1,561 2,974 -
Other Post Employment Benefits(OPEB)- 353,283 - - -
Unrestricted 23,604,159 28,511,364 33,831,520 36,631,555 30,636,281
Total governmental activities net position 382,297,929$ 387,689,427$ 394,747,347$ 399,708,488$ 401,888,912$
Fiscal Year 2016 2017 2018 2019 2020
Governmental activities:
Net investment in capital assets 363,216,277$ 358,765,476$ 354,824,312$ 350,017,830$ 345,260,286$
Restricted for:
Capital projects 267,984 184,074 356,711 655,124 944,561
Community development 2,382,667 2,066,650 1,907,215 2,137,080 2,086,977
Public safety 193,941 243,642 235,752 286,848 346,066
Public works 4,465,023 3,095,734 3,268,495 10,721,764 11,874,243
Debt service 29 80 199 361 19
Other Post Employment Benefits(OPEB)- - - - -
Unrestricted 22,742,992 23,047,078 21,270,741 21,083,148 21,513,688
Total governmental activities net position 393,268,913$ 387,402,734$ 381,863,425$ 384,902,155$ 382,025,840$
Source:
City Finance Department
City of Diamond Bar
Net Assets by Component
Last Ten Fiscal Years
(accrual basis of accounting)
123
2016 2017 2018 2019 2020
Expenses:
Governmental Activities:
General government 5,812,525$ 6,627,894$ 6,926,331$ 8,990,203$ 6,693,192$
Public safety 6,216,279 6,586,188 6,904,971 7,142,733 7,371,290
Public works 11,966,721 14,178,723 14,612,857 13,644,523 14,435,606
Community development 2,127,206 3,231,764 3,083,101 3,069,374 3,138,506
Parks and recreation 6,137,787 5,164,413 5,532,810 6,149,343 5,188,798
Interest on long-term debt 455,700 443,480 423,400 402,671 385,006
Contribution to OPEB Trust 84,761 84,761 84,591 87,128 88,000
Total Primary Government 32,800,979 36,317,223 37,568,061 39,485,975 37,300,398
Program Revenues:
Governmental Activities:
Charges for services
General Government 661,910 811,846 619,147 1,248,171 431,216
Public safety 470,722 460,325 459,615 415,701 432,774
Public works 4,389,876 2,675,313 3,782,259 9,797,871 2,312,413
Community development 1,820,325 2,077,810 2,023,466 2,110,515 1,914,403
Parks, recreation and culture 1,684,814 1,544,002 1,648,945 1,347,448 848,675
Operating grants and contributions 3,687,015 3,844,192 4,120,526 5,651,932 4,938,893
Capital grants and contributions 1,455,770 359,669 159,258 12,595 1,098,879
Total Governmental Activities
Program Revenues 14,170,432 11,773,157 12,813,216 20,584,233 11,977,253
General Revenues:
Taxes
Property taxes 4,665,140 4,951,033 5,187,630 5,405,335 5,590,899
Transient occupancy taxes 994,476 923,527 1,019,915 1,222,925 1,128,386
Sales taxes 4,598,858 4,789,172 4,999,873 4,970,980 4,846,330
Franchise taxes 1,431,513 1,320,617 1,419,605 1,355,003 1,340,960
Other taxes 523,015 394,961 509,322 1,062,003 1,070,672
Unrestricted Motor vehicle in lieu 5,411,143 5,757,423 6,011,177 6,285,504 6,545,989
Use of money and property 524,918 58,160 67,046 1,397,727 1,378,227
Other revenues 703,457 482,994 161,145 240,995 139,321
Total General Revenues 18,852,520 18,677,887 19,375,713 21,940,472 22,040,784
Change in Net Position 221,973 (5,866,179) (5,379,132) 3,038,730 (3,282,361)
Net Position at Beginning of Year 395,162,740 393,268,913 387,402,734 381,863,425 384,902,155
Restatement of Net Position (2,115,800) - (160,177) - 406,046
Net Position at End of Year 393,268,913$ 387,402,734$ 381,863,425$ 384,902,155$ 382,025,840$
Source:
City Finance Department
City of Diamond Bar
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
124
2021 2022 2023 2024 2025
7,810,434$ 7,210,304$ 8,377,284$ 8,332,738$ 9,485,437$
7,401,924 7,993,744 8,149,425 8,783,229 9,285,498
11,626,695 11,641,746 12,621,030 14,661,974 16,617,796
3,128,813 2,579,271 3,663,339 3,830,323 4,169,755
3,802,025 3,903,018 4,481,255 4,258,559 3,695,039
392,652 192,897 145,302 126,654 124,263
- - - - -
34,162,543 33,520,980 37,437,635 39,993,477 43,377,788
642,791 94,571 114,485 267,248 177,033
263,147 436,610 383,058 380,424 356,821
2,881,793 3,265,094 3,452,701 3,257,774 3,051,309
2,260,454 2,270,878 2,450,481 2,624,871 2,928,905
319,896 1,079,941 1,583,261 1,608,375 1,464,799
5,919,399 9,745,284 9,630,820 7,570,259 7,464,489
302,616 - 853,518 96,569 1,343,630
12,590,096 16,892,378 18,468,324 15,805,520 16,786,986
5,873,328 12,814,147 13,650,877 13,963,044 14,183,765
797,785 1,359,842 1,462,904 1,499,045 1,508,775
5,106,920 6,127,593 6,598,953 6,467,915 6,122,363
1,390,250 1,308,250 1,687,104 1,628,505 1,533,521
1,105,651 1,400,481 1,540,855 1,620,453 1,605,277
6,804,019 65,523 56,347 67,901 86,648
121,612 (895,646) 863,861 3,880,104 4,538,053
258,910 136,203 166,330 22,131 1,014,381
21,458,475 22,316,393 26,027,231 29,149,098 30,592,783
(113,972) 5,687,791 7,057,920 4,961,141 4,001,981
382,025,840 382,297,929 387,689,427 394,747,347 399,708,488
386,061 (296,293) - - (1,821,557)
382,297,929$ 387,689,427$ 394,747,347$ 399,708,488$ 401,888,912$
125
General fund:2016 2017 2018 2019 2020
Nonspendable:
Prepaid costs 75,866$ 42,108$ 8,230$ 26,203$ 4,496$
Committed to:
Emergency contingencies 4,500,000 4,500,000 4,500,000 4,500,000 6,000,627
Assigned to:
Community organization support - - - - -
Other Post Employment Benefits (OPEB)- - - - -
Technology Reserve - - - - -
Capital improvement projects - - - - -
Tres Hermanos Conservancy - - - - -
General Plan Update - - - - -
Law Enforcement Reserve - - - - -
Unassigned
Unassigned Reserve 19,350,943 20,379,854 19,440,147 18,583,174 18,687,761
Total general fund 23,926,809 24,921,962 23,948,377 23,109,377 24,692,884
All other governmental funds:
Restricted for:
Community development projects 2,382,667 2,066,650 1,907,215 2,137,080 2,086,977
Public safety 193,941 243,642 235,752 286,848 346,066
Highways and streets 3,541,041 3,095,514 3,268,495 10,721,764 11,874,243
Capital projects 267,984 184,074 356,711 655,124 944,561
Debt service 29 80 199 361 19
Assigned to:
Technology Reserve - - - - -
Unassigned 18,047 (290,141) (49,618) (557,242) (351,346)
Total all other governmental funds 6,403,709 5,299,819 5,718,754 13,243,935 14,900,520
Total fund balances 30,330,518$ 30,221,781$ 29,667,131$ 36,353,312$ 39,593,404$
Note:
The City implemented GASB 54, titled "Fund Balance Reporting and Governmental Fund Type Definitions"
as of the fiscal year ended June 30, 2011.
Source: City Finance Department
City of Diamond Bar
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
126
2021 2022 2023 2024 2025
2,275$ -$ -$ -$ -$
6,797,181 7,864,770 7,981,243 8,217,405 8,071,538
- 2,062 - 2,062
- 353,283 291,182 313,523 259,359
- 442,418 591,346 695,389 172,255
- 1,308,920 2,072,420 1,128,611
- 20,726 6,910 6,910 6,923
- 518,504 453,782 325,212
- 929,558 941,362 1,066,070 1,323,656
20,950,249 20,615,949 22,959,067 21,674,550 23,084,596
27,749,705 30,226,704 34,600,596 34,500,049 34,374,212
3,100,228 3,453,843 4,435,803 5,846,364 6,138,386
346,594 347,228 366,818 412,824 479,491
13,772,296 19,187,254 21,761,109 23,306,048 19,977,850
1,724,690 2,863,447 2,743,073 2,312,947 2,517,374
22,776 75 1,561 2,974 -
- - - - -
(144,722) (187,428) (725,794) (415,323) (1,917,401)
18,821,862 25,664,419 28,582,570 31,465,834 27,195,700
46,571,567$ 55,891,123$ 63,183,166$ 65,965,883$ 61,569,912$
127
2016 2017 2018 2019 2020
Revenues:
Taxes 12,930,081$ 12,698,595$ 13,031,475$ 13,233,033$ 13,200,479$
Special assessments 781,232 769,014 788,971 783,213 776,768
Intergovernmental 10,384,417 11,668,517 11,753,427 14,013,870 14,110,518
Charges for services 3,101,103 2,899,321 2,972,508 2,540,344 1,864,015
Fines and forfeitures 470,722 460,325 459,615 415,701 432,774
Licenses and permits 4,121,387 2,355,980 3,128,048 9,337,213 2,246,294
Use of money and property 563,300 28,478 39,014 1,361,323 1,326,838
Other 716,914 561,288 189,350 278,317 201,503
Total revenues 33,069,156 31,441,518 32,362,408 41,963,014 34,159,189
Expenditures:
Current:
General government 5,177,288 5,560,482 5,956,082 8,078,152 5,607,821
Public safety 6,201,985 6,576,954 6,898,325 7,136,362 7,371,290
Public works 5,531,705 8,964,282 9,298,972 8,653,425 8,860,331
Parks, recreation and culture 4,232,431 2,723,558 2,893,702 3,075,935 2,699,950
Community development 2,313,053 2,985,973 2,874,443 2,900,120 2,871,762
Capital outlay 5,598,997 3,041,443 3,230,907 2,709,445 2,604,402
Debt service:
Principal retirement 385,000 400,000 420,000 440,000 460,000
Interest and fiscal charges 470,741 459,191 439,191 418,191 400,591
Total expenditures 29,911,200 30,711,883 32,011,622 33,411,630 30,876,147
Excess (deficiency) of
revenues over (under)
expenditures 3,157,956 729,635 350,786 8,551,384 3,283,042
Other financing sources (uses):
Bond issued or refinancing - - - - -
Bonds discount or premium - - - - -
Payment to refunded bond escrow - - - - -
Transfers in 7,287,721 6,395,368 6,758,082 5,962,151 7,173,287
Transfers out (7,999,925) (6,831,304) (7,663,738) (7,827,354) (7,622,283)
Total other financing
sources (uses)(712,204) (435,936) (905,656) (1,865,203) (448,996)
Net changes in fund balances 2,445,752$ 293,699$ (554,870)$ 6,686,181$ 2,834,046$
Debt service as a
percentage of noncapital
expenditures 3.24%3.08%2.95%2.81%3.03%
Source: City Finance Department
City of Diamond Bar
Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
128
2021 2022 2023 2024 2025
13,498,926$ 15,160,087$ 16,445,551$ 16,323,617$ 15,861,615$
775,008 943,000 1,262,383 1,319,406 1,263,340
16,273,538 18,736,104 21,094,276 17,537,169 18,343,227
914,766 1,740,824 2,297,541 3,337,420 3,568,191
263,147 436,610 383,058 380,424 356,821
2,259,287 2,177,224 2,407,329 1,452,208 1,353,411
96,495 (867,840) 827,050 3,850,209 4,267,385
262,929 176,874 202,085 69,850 1,014,381
34,344,096 38,502,883 44,919,273 44,270,303 46,028,371
6,383,456 6,744,954 7,022,442 7,320,527 8,043,901
7,401,924 7,993,744 8,149,425 8,783,229 9,134,161
6,430,811 6,716,430 7,403,724 8,267,831 10,347,233
1,178,756 1,745,665 1,967,229 2,279,409 2,500,057
2,919,045 2,728,649 3,522,887 3,681,529 4,186,329
1,398,225 447,896 6,910,290 8,173,856 13,851,707
485,000 455,000 465,000 480,000 505,000
543,673 280,413 254,200 235,600 232,500
26,740,890 27,112,751 35,695,197 39,221,981 48,800,888
7,603,206 11,390,132 9,224,076 5,048,322 (2,772,517)
8,024,092 - - - -
- - - -
(7,839,852) - - - -
3,777,515 3,350,683 8,497,451 12,101,904 13,632,039
(4,586,798) (5,124,966) (10,429,484) (14,367,509) (15,383,819)
(625,043) (1,774,283) (1,932,033) (2,265,605) (1,751,780)
6,978,163$ 9,615,849$ 7,292,043$ 2,782,717$ (4,524,297)$
4.09%2.76%2.49%2.30%2.16%
129
City of Diamond Bar
Source: Los Angeles County Assessor Annual Tax Increment Tables.
130
Fiscal
Year Less Total Taxable Total
Ended Secured Unsecured Other Tax Assessed Direct
June 30,Property Property Property Exemptions Value Tax Rate % Change
2015-16 8,649,508,385 72,343,401 - 85,103,082 8,636,748,704 0.0526 5.47%
2016-17 9,175,049,277 74,892,798 - 62,484,967 9,187,457,108 0.0525 6.38%
2017-18 9,589,040,619 76,356,565 - 78,363,662 9,587,033,522 0.0525 4.35%
2018-19 10,037,428,342 83,787,675 - 90,713,106 10,030,502,911 0.0525 4.63%
2019-20 10,435,977,033 76,572,055 - 93,257,612 10,419,291,476 0.0525 3.88%
2020-21 10,834,109,675 94,903,135 - 90,417,003 10,838,595,807 0.0524 4.02%
2021-22 11,071,176,004 93,096,143 1,199,912 93,033,033 11,071,239,114 0.0524 2.15%
2022-23 11,582,901,902 97,490,346 - 87,372,428 11,593,019,820 0.0524 4.71%
2023-24 12,071,506,492 105,461,086 - 97,994,848 12,078,972,730 0.0524 4.19%
2024-25 12,535,253,079 111,051,379 - 98,005,374 12,548,299,084 0.0524 3.89%
Note: Exempt values are not included in Total Net Taxable Values.
Source: HDL Coren & Cone and Los Angeles County Assessor's Combined Tax Rolls.
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.
Real Property
2015/16 - 2024/25 Taxable Property Values
(unaudited)
City of Diamond Bar
Assessed and Estimated Actual Values of Taxable Property
0
2,000,000,000
4,000,000,000
6,000,000,000
8,000,000,000
10,000,000,000
12,000,000,000
14,000,000,000
2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25Millions
Fiscal Year
Net Assessed Value
131
Agency 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25
Basic Levy*1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000
Metropolitan Water District 0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.007
Mt. San Antonio College 0.022 0.024 0.024 0.024 0.048 0.045 0.046 0.043 0.038 0.041
Pomona Unified School Dist 0.154 0.144 0.173 0.169 0.207 0.151 0.141 0.146 0.145 0.139
Walnut Valley Unified School Dist 0.093 0.066 0.074 0.106 0.095 0.099 0.101 0.101 0.107 0.107
Total Direct & Overlapping Tax Rates 1.272 1.237 1.274 1.303 1.354 1.298 1.291 1.293 1.293 1.294
City's Share of 1% Levy Per Prop 13*0.0519 0.0519 0.0519 0.0519 0.0519 0.0519 0.0519 0.0519 0.0519 0.0519
General Obligation Debt Rate
Redevelopment Rate*
Total Direct Rate*0.0526 0.0526 0.0525 0.0525 0.0525 0.0524 0.0524 0.0524 0.0524 0.0523
Total Direct Rate is the weighted average of all individual direct rates applied by the government preparing the statistical section information.
RDA 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.
City of Diamond Bar
Direct and Overlapping Property Tax Rates
(Rate per $100 of Assessed Value)
In 1978, California voters passed Proposition 13 which sets the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for
which the subject property resides within.In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed
property values for the payment of any voter approved bonds for the Pomona Unified School District or Walnut Valley Unified School Districts in Diamond
Bar depending on which school district the property is located in.
Overlapping rates are those of local and county governments that apply to property owners within the City. Not all overlapping rates apply to all city
property owners.
132
Sec & Unsecured Percentage of Total
2024-25 Assessed Valuation Net Assessed Valuation
Apex 2015 LLC 77,741,643$ 0.62%
Roic Diamond Hills Plaza LLC 59,127,242 0.47%
Emerald Pointe Apartments LLC 44,847,358 0.36%
Hua Qing Enterprise LLC 40,042,616 0.32%
Diamond Cycle Properties LLC 38,069,978 0.30%
Target Corporation 34,833,053 0.28%
Bridgegate Drive Properties LLC 34,525,312 0.28%
Roic DBTC LLC 33,079,507 0.26%
Diamond Springs LLC 32,245,999 0.26%
Muller Rock 2 Gateway 31,553,900 0.25%
Top Ten Total 426,066,608$ 3.40%
City Total 12,548,299,084$
Percentage of Total
2015-16 Assessed Valuation Net Assessed Valuation
Roic California LLC 50,180,866$ 0.58%
SRGMF South Grand Diamond Bar 46,355,981 0.54%
BSP Senita Gateway Center LLC 40,000,000 0.46%
Pacifica Trenton Holdings-2 LLC 30,840,781 0.36%
Roic DBTC LLC 28,484,169 0.33%
Target Corporation 27,451,357 0.32%
Muller Rock 2 Gateway 26,779,531 0.31%
Kaiser 26,038,552 0.30%
Millenium Diamond Road Partner 24,346,712 0.28%
Margaret M Tam Trust Et Al 18,464,858 0.21%
Top Ten Total 318,942,807$ 3.69%
City Total 8,636,748,704$
Source: Hdl Coren & Cone.
City of Diamond Bar
Top 10 Property Taxpayers
Current Year and Nine Years Ago
133
Fiscal Year Taxes Levied
Ended for the
June 30 Fiscal Year Amount % to Levy Years % to Levy
2016 4,568,789 4,412,561 96.58%156,228 3.42%
2017 4,842,897 4,643,891 95.89%199,007 4.11%
2018 5,081,117 4,838,019 95.22%243,098 4.78%
2019 5,313,057 5,131,554 96.58%181,503 3.42%
2020 5,540,291 5,267,524 *95.08%272,767 4.92%
2021 5,759,793 5,514,749 *95.75%- 0.00%
2022 5,871,397 5,494,246 *93.58%224,683 3.83%
2023 6,124,421 5,886,315 *96.11%- 0.00%
2024 6,438,672 6,195,109 *96.22%- 0.00%
2025 6,696,849 6,225,486 92.96%- 0.00%
*Correction to reflect the county levy and remittance received.
Source: Los Angeles County Auditor/Controller.
City Finance Department
Collected within the Collections in
Subsequent
Fiscal Year of Levy
City of Diamond Bar
Property Tax Levies and Collections
Last Ten Fiscal Years
(unaudited)
134
Fiscal Year Lease Unamortized Total Total % of Debt
Ended Revenue Bond Premium Governmental Primary Personal Per
June 30 Bonds (a)(Discount)Activities Government Income (b)Capita (b)
2016 10,035,000 187,349 10,222,349 10,222,349 0.53%179
2017 9,635,000 173,223 9,808,223 9,808,223 0.50%172
2018 9,215,000 159,097 9,374,097 9,374,097 0.48%163
2019 8,775,000 144,971 8,919,971 8,919,971 0.43%155
2020 8,315,000 130,845 8,445,845 8,445,845 0.40%148
2021 6,735,000 1,289,092 8,024,092 8,024,092 0.38%140
2022 6,280,000 1,181,668 7,461,668 7,461,668 0.33%138
2023 5,815,000 1,074,244 6,889,244 6,889,244 0.29%129
2024 5,335,000 966,820 6,301,820 6,301,820 0.25%118
2025 4,830,000 859,395 5,689,395 5,689,395 0.23%107
Note:
(a) Details regarding the City's outstanding lease revenue bonds can be found in the notes to the financial statements.
See Financial Statement Note 6: Long-Term Liabilities for an explantion regarding the above amounts.
(b) Details regarding the City's population and personal income can be found in the Demographic and Economic Statistics Table.
* The increase in Unamortized Bond Premium is due to the refinancing of the City's lease revenue bonds.
Source:
City Finance Department
Califonia Department of Finance
Governmental Activities
City of Diamond Bar
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(Unaudited)
135
Total Debt
% Applicable
To City (1)
City's Share of
Debt
Direct Debt
Diamond Bar Lease Revenue Bonds, 2021 Series A 4,830,000$ 100.000 4,830,000$
Diamond Bar Lease Revenue Bonds Premium, 2021 Series A 859,395 100.000 859,395
Total Direct Debt 5,689,395$ 5,689,395$
Overlapping Debts (2)
Metropolitan Water District 17,155,000 0.308 52,837
Mt San Antonio Community College District 1,062,368,464 10.296 109,381,457
Pomona Unified School District 432,919,701 18.190 78,748,094
Walnut Valley Unified School District 211,359,649 58.835 124,353,449
Total Overlapping Tax and Assessment Debts 1,723,802,814$ 312,535,837$
Overlapping General Fund Debt
Los Angeles County General Fund Obligations 3,036,637,390 0.597 18,128,725
Los Angeles County Superintendent of Schools Certificates of Participation 2,331,775 0.597 13,921
Los Angeles County Sanitation District No.21 Authority - 0.000 -
Mt.San Antonio Community College District Certificates of Participation - 0.000 -
Pomona Unified School District General Fund Obligations 2,420,000 18.190 440,198
Total Direct and Overlapping General Fund Debt 3,047,078,560$ 24,272,239$
Total Overlapping Debt 331,118,681
Grand Total Direct and Overlapping Debt:4,770,881,374$ 336,808,076$
Debt to Assessed Valuation Ratios:
2024/25 Net Assessed Valuation: $ 12,548,299,084 Direct Debt 0.05%$107
2024 City Population: 53,335 Overlapping Debt 2.49%$5,860
Total Debt 2.68%$5,967
Note:
(1)Percentage of direct and overlapping agency's assessed valuation located within boundaries of the city.
(2)The overlapping debt is the portion of a larger agency, and is responsible for debt in areas outside the city.
Source:
Hdl Coren & Cone
Califonia Department of Finance
City Finance Department
City of Diamond Bar
Direct and Overlapping Debt
June 30, 2025
(unaudited)
136
Fiscal Year 2025 2024 2023 2022 2021
Net assessed value 12,646,304,458$ 12,176,967,578$ 11,680,392,248$ 11,165,472,059$ 10,929,012,810$
Add back: Exemptions 98,005,374 97,994,848 87,372,428 94,232,945 90,417,003
Gross assessed value 12,744,309,832 12,274,962,426 11,767,764,676 11,259,705,004 11,019,429,813
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation 3,186,077,458 3,068,740,607 2,941,941,169 2,814,926,251 2,754,857,453
Debt limit percentage 15%15%15%15%15%
Debt limit 477,911,619 460,311,091 441,291,175 422,238,938 413,228,618
City Debts:
Revenue bonds 4,830,000 5,335,000 5,815,000 6,280,000 8,315,000
Unamortized Bond Premium 859,395 966,820 1,074,244 1,181,668 130,845
Legal debt margin 472,222,224$ 454,009,271$ 434,401,931$ 414,777,270$ 404,782,773$
Fiscal Year 2020 2019 2018 2017 2016
Net assessed value 10,419,291,476$ 10,030,502,911$ 9,587,033,522$ 9,187,457,108$ 8,636,748,704$
Add back: Exemptions 93,257,612 90,713,106 78,363,662 62,484,967 85,146,082
Gross assessed value 10,512,549,088 10,121,216,017 9,665,397,184 9,249,942,075 8,721,894,786
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation 2,628,137,272 2,530,304,004 2,416,349,296 2,312,485,519 2,180,473,697
Debt limit percentage 15%15%15%15%15%
Debt limit 394,220,591 379,545,601 362,452,394 346,872,828 327,071,054
City Debts:
Revenue bonds 8,315,000 8,775,000 9,215,000 9,635,000 10,035,000
Unamortized Bond Premium 130,845 144,971 159,097 173,223 187,349
Legal debt margin 385,774,746$ 370,625,630$ 353,078,297$ 337,064,605$ 316,848,705$
Source: Section 43605 of the California Government Code
Hdl Coren & Cone
City Finance Department
City of Diamond Bar
Computation of Legal Debt Margin
Last Ten Fiscal Years
(unaudited)
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 the 25%level that was in effect at the time that the
legal debt margin was enacted by the State of California for local government located within the state.
137
General Information
Date of Incorporation April 18, 1989
Form of Government Council-Manager
Area 14.88 Square Miles
Miles of Streets 132.3
Public Safety
Police Protection Los Angeles County Sheriff Department
Fire Protection Los Angeles County Fire Department
Education
School District Pomona Unified School District
Schools 1 High School, 1 Middle School, & 4 Elementary Schools
School District Walnut Valley Unified School District
Schools 1 High School, 2 Middle Schools, & 4 Elementary Schools
Population Distribution by Race (2020 US Census)Total Percent
Asian 32,540.48 58.40%
White 9,472.40 17.00%
Hispanic or Latino 10,363.92 18.60%
African American 2,005.92 3.60%
Others 1,337.28 2.40%
Single Family Residential Full Value Sales (01/01/2016-06/30/2025) *
Year Full Value Sales Average Price Median Price Median % Change
2016 837 628,252 #570,000 4.22%
2017 745 645,253 #589,500 3.42%
2018 647 704,743 #657,500 11.93%
2019 663 701,439 #635,000 -3.42%
2020 250 (Jan-Jun 2020)656,486 #629,000 -0.94%
2021 391 788,473 #755,000 11.85%
2022 562 983,950 #860,000 10.16%
2023 451 1,009,653 #888,000 3.26%
2024 481 1,094,038 #955,000 7.55%
2025 228 1,014,525 #961,250 0.65%
* "Single Family Residential" includes both stand-alone homes and townhouses and condos with a common wall.
Notes and
Data Los Angeles County Recorder
HdL Coren & Cone
US Bureau of the Census. The official population census of the United States is conducted every ten years.
Median Household Income were obtained from U.S. Census Bureau, 2017 American Community Survey 1-Year Estimates.
City of Diamond Bar
Demographic and Economic Statistics
(unaudited)
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025Median PriceYear
Median Home Prices
138
Personal Income Median HouseholdUnemploym Median
Population (In Thousands)Income Rate Age
2015 57,081 1,943,144 34,041 85,505 4.3%41.1 91.5%47.9%
2016 57,066 1,978,657 34,673 89,409 3.3%42.0 92.1%50.9%
2017 57,460 1,953,402 33,995 94,630 3.8%42.2 92.4%50.7%
2018 57,495 2,061,233 35,850 98,660 3.7%42.6 92.8%52.1%
2019 57,177 2,127,028 37,200 101,862 3.6%41.8 93.8%53.2%
2020 56,717 2,228,525 39,292 118,892 10.6%42.6 94.2%54.9%
2021 54,204 2,265,532 41,796 107,322 7.0%42.9 93.6%54.0%
2022 53,381 2,344,903 43,927 113,824 3.8%43.7 93.2%53.8%
2023 53,335 2,482,197 46,539 112,451 3.9%44.7 92.4%51.9%
2024 53,539 2,575,625 48,107 107,835 4.9%45.6 92.8%52.7%
City of Diamond Bar
Demographic and Econimic Statistics
(unaudited)
Calendar Per Capita % of Pop 25+ with
High School Degree
% of Pop 25+ with
Bachelor's Degree Year Personal
Notes and Data Sources:
Population: California State Department of Finance. Unemployment Data: California Employment Development Department
2000-2009 Income, Age, and Education Data: ESRI -Demographic Estimates are based on the last available Census.Projections are developed by incorporating all
of the prior census data released to date. Demographic Data is totaled from Census Block Groups that overlap the City's boundaries
2010 and later - Income, Age and Education Data -US Census Bureau, most recent American Community Survey. Estimated Median Household Income - Nielsen
Company.
139
2024 2023 2022 2021 2020
Apparel Stores 9,296$ 8,941$ 8,547$ 8,419$ 5,748$
Food Stores 21,337 21,955 21,212 20,748 22,306
Eating and Drinking Places 86,770 85,580 82,129 72,385 49,817
Building Materials - - - - -
Auto Dealers and Supplies 7,953 8,243 7,834 7,497 5,627
Service Stations 112,300 121,981 138,435 101,227 64,105
Other Retail Stores 66,095 63,882 66,856 54,750 53,353
All Other Outlets 313,497 351,277 325,210 300,986 273,323
Total 617,247$ 661,858$ 650,223$ 566,012$ 474,278$
State Board of Equalization, California Department of Taxes and Fees Administration, State Controllers Office,and The HdL
Companies.
Due to confidentiality issues, the names of the ten largest revenue payers are not available. The categories presented are intended to
provide alternative information regarding the sources of the City's revenue.
Notes and Data Sources:
City of Diamond Bar
Taxable Sales by Category
Last Ten Calendar Years
(in thousands of dollars)
140
2019 2018 2017 2016 2015
8,241$ 7,871$ 2,008$ 2,347$ 2,104$
19,200 18,566 17,512 15,591 12,478
66,434 64,572 64,415 59,746 56,886
- - - - -
7,327 6,509 6,733 7,469 7,648
102,945 104,939 97,351 92,551 104,921
62,312 65,370 63,167 62,492 60,951
262,843 255,865 257,491 254,036 209,875
529,302$ 523,693$ 508,677$ 494,232$ 454,862$
Notes and Data Sources:
141
Function 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
General government 26 26 27 26 22 29 27 27 27 25 25
Part-time*1 1 1 1 1.01
Community development 12 11 11 8 8 9 9 8 9 9 8
Part-time*0 1 0 1 0.25 0 0 0 0 0
Public works 17 16 14 13 15 18 14 17 17 10 9
Part-time*1 0 1 3 1.15
Community services 0 0 0 0 0 0 0 0 0 14 15
Part-time*0 0 0 0 0 0 0 0 0 56 58
Parks & recreation 12 11 11 11 11 10 11 9 9 0 0
Part-time & Seasonal*56 66 53 50 24.68 52 51 65 50 0 0
Total 125 132 118 113 83.09 118 112 126 112 114 115
Note:
The City is a contract city and as such contracts for many of its services. This includes police services, fire
services, building and safety services, engineering, road maintenance and landscape maintenance.
A full-time employee is scheduled to work 2,080 hours per year (including vacation and sick leave).
Beginning In FY2017, part of the former Community Services Department, road maintenance and landscape
maintenance, has been centralized in Public Works.
* Part-time/Seasonal staff reported as Full-time Equivalent beginning FY 2020-21
Full-Time Employee count includes only active employees as of 6/30/2024
Source: City Finance Department
Fiscal Year Ended June 30,2025
City of Diamond Bar
Full-time and Part-time City Government Employees
by Function/Program
142
2025 2024 2023 2022 2021
Police:(in fiscal year) (1)
Physical arrests 259 353 462 457 483
Street Sweeping Parking Citation 5,685 2,695 3,668 5,726 2,846
Fire: (in fiscal year) (2)
Number of incident calls 3,779 3,566 3,576 3,566 3,237
Inspections 690 1,111 1,433 226 988
Public works: (in fiscal year) (3)
Street resurfacing (miles)3.7 23.0 19.6 19.7 1.1
Parks and recreation:(in fiscal year)(4)
Number of recreation classes(5)508 843 838 668 450
Number of facility rentals 6,279 6,887 6,217 3,900 1,219
2020 2019 2018 2017 2016
Police: (1)
Physical arrests 564 653 493 636 702
Street Sweeping Parking Citation 4,450 5,256 5,367 5,289 5,682
Fire: (2)
Number of emergency calls 3,014 3,207 3,362 3,331 3,180
Inspections 941 1,151 1,403 1,336 1,667
Public works: (3)
Street resurfacing (miles)16.5 12.3 17.2 14.4 19.3
Parks and recreation:(4)
Number of recreation classes 1,547 2,461 2,461 2,338 2,546
Number of facility rentals 2,766 4,610 4,610 4,316 4,804
Sources:
(1) Police Walnut/Diamond Bar Station
(2) LA County Fire Dep East Regional Operation Bureau
(3) City Public Works Department
(4) City Community Services Department
(5) Includes online classes
Note: Indicators are not available for the general government function.
Function
Fiscal Year Ended June 30,2025
City of Diamond Bar
Operating Indicators by Function
Last Ten Fiscal Years
Function
Fiscal Year Ended June 30,2025
143
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Public safety (1)
Police:
Station 1 1 1 1 1 1 1 1 1 1
Patrol units (all shifts combined)17 17 17 18 18 18 18 18 18 18
Fire stations (2)3 3 3 3 3 3 3 3 3 3
Highways and streets (3)
Streets (miles)132.3 132.3 132.3 132.3 132.3 132.3 132.3 132.3 130.9 130.9
Streetlights 314 314 314 314 314 314 314 307 307 294
Traffic signals 76 76 76 76 76 76 76 76 76 74
Culture and recreation (4)
Parks Acreage 79.4 79.4 79.4 79.4 79.4 79.4 79.4 79.4 72.6 67.9
Hiking Trails 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.0
Parks 17 17 17 17 17 17 17 17 16 15
Public Tennis courts 7 7 7 7 8 8 8 8 8 8
Community centers 3 3 3 3 3 3 3 3 3 3
Golf Course (5)
County golf course 1 1 1 1 1 1 1 1 1 1
Sewer (3)
Sanitary sewers (miles)161.53 161.53 161.53 161.53 161.38 161.38 161.38 161.38 161.38 161.21
Sources:
(1) Police Walnut/Diamond Bar Station
(2) LA County Fire Department, Division VIII Office
(3) City Public Works Department
(4) City Community Services Department
(5)LA County Golf Course
Note:
The City is a contract city and as such contracts for many of its services. This includes police services,
fire services, building and safety services, engineering, road maintenance and landscape maintenance.
No capital asset indicators are available for the general government function.
Function
Fiscal Year Ended June 30, 2025
City of Diamond Bar
Capital Asset Statistics by Function
Last Ten Fiscal Years
144