The City of Ripon has a net financial position of $69,150,330 between cash and investments as of June 30.

That’s the bottom line of a financial audit report for the 2025-2026 fiscal year that is before the Ripon City Council when they meet tonight at 6 p.m.

All but $27,086,602 of the $69 million is restricted.

Restricted funds include $29,574,704 for capital projects, $8,997,991 in growth mitigation fees, $2,601,825 for low and moderate housing, $3,345,127 for street construction and maintenance, $781,638 for transit, $202,757 for public safety, $462,547 for assessment districts, and $2,129 for debt service.

Price Paige & Company — the firm that conducted the audit — indicated there were no significant audit findings, no difficulties encountered between the auditors and staff, and no disagreements between management and the auditors.

Ripon’s enterprise accounts for municipal services funded by ratepayers at the end of the 2025-2026 fiscal year had a balance of:

*$926,514 for water after collecting $3,947,591 and spending $3,354,181.

*$697,426 for sewer after collecting $2,339,822 and spending $1,449,744.

*$211,230 for garbage after collecting $3,069,914 and spending $3,020,095.

The capital funds for enterprise accounts — that are used for replacement of aging equipment and vehicles, deteriorating pipelines, mandated state upgrades, and such — had balances on June 30 of:

*$9,437,095 for water.

*$1,769,161 for sewer.

*$2,832,735 for wastewater treatment plant reserve.

*259,098 for garbage.

*8,449 for storm drains.

There was an overall ending balance of $17,871,847 in various Public Facilities Financing Plan accounts.

That includes $1,364,397 for the reserve to finance a future connection to the South San Joaquin Irrigation District surface water treatment plant.

Of the 12 accounts that are funded by fees collected on growth, there were four funds in a negative position meaning enough funds have yet to be collected to cover expenditures already spent such as for construction related costs connected with the police station and city hall. The city hall fund has as $4,037,190 deficit and the police fund a $1,258,472 deficit.

City debt obligations as of June 30 included balances remaining of:

*$3,020,000 for 2006 water revenue bonds.

*525,0000 for 2012 water revenue bonds.

*$18,671,977 for 2020 redevelopment bonds.

The last payment of $190,000 was made during the last fiscal year to pay off the 2011 sewer bonds.

The city has three outstanding development incentive programs that are loans made to help secure private sector development that are being paid off with tax revenue generated.

They include:

*$370,966 still owed for a $655,417 incentive to JKB Living for commercial development on River Road.

*$721,901 still owed for a $1,311,747 incentive to Happy Daze RV.

*There is also a $416,426 incentive for TownePlace Suites by Marriott that has yet to be activated.

General fund highlights include:

*General Fund operating revenue increased by 6 percent of $1,033,495 (or 6%) as compared to the previous fiscal year.

*General Fund operating expenses increased by 5 percent or $915,371 as compared to the previous fiscal year.

*During the fiscal year ending June 30, 2025, a total of $890,480 was transferred from the General Fund. Transfers were made to the Street and Road Reserve Fund ($210,718), Department Capital Fund ($363,141), CNG Capital Reserve ($90,358), CalPERS Contingency Fund ($136,064) and for the December 2025 police officer, sergeant and dispatcher retention payment approved from the fiscal year 2022-23 surplus ($90,199).

• The City’s share of CalPERS (California Public Employees Retirement System) unfunded liability decreased $736,826 (11%) in the current fiscal year due to higher than normal returns.

Not all employees of the City of Ripon participate in CalPERS, so the City’s unfunded liability of $6,222,491 as of June 30, 2025 CalPERS Valuation Report is much less than other municipalities.

Since fiscal year 2017-18, $1,988,217 has been transferred to a CalPERS Contingency Fund and in fiscal year 2022-23 this was transferred into a Section 115 Trust. The current balance of the 115 Trust is $2,249,765.

Additionally, a $250,000 prepayment towards the City’s unfunded accrued liability was made in fiscal year 2018-19.

To contact Dennis Wyatt, email dwyatt@mantecabulletin.com