1100 - FY21 City of Canby - ACFR (City of Canby Audit 2021 [6/30/2021] (In Process))

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ANNUAL COMPREHENSIVE

INANCIAL

EPORT

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ISCAL

EAR

NDING

:ƵŶĞϯϬ͕ϮϬ21

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ityof

anby

anby,

regon

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AnnualComprehensive

FinancialReport

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FiscalYearEnding

June30,2021

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Preparedby

CityofCanby,Oregon

FinanceDepartment

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ThisPageIntentionallyLeftBlank

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CITYOFCANBY,OREGON

TABLEOFCONTENTS

June30,2021



INTRODUCTORYSECTION: Page

LetterofTransmittal i

CertificateofAchievementforExcellenceinFinancialReporting  v

OrganizationalChart vi

PrincipalOfficials vii

FINANCIALSECTION:

IndependentAuditor’s Report 2

Management’sDiscussionandAnalysis 5

BASICFINANCIALSTATEMENTS:

 Government‐WideFinancialStatements:

StatementofNetPosition 14

StatementofActivities 15

 GovernmentalFundsFinancialStatements:

BalanceSheet–GovernmentalFunds 16

ReconciliationoftheBalanceSheettotheStatementofNetPosition 17

StatementofRevenues,Expenditures,andChangesinFundBalance–GovernmentalFunds 18

Reconciliatio

noftheSt

atementofRevenues,Expenditures,and

ChangesinFundBalancetotheStatementofActivities 19

 ProprietaryFundsFinancialStatements:

StatementofNetPosition 20

StatementofRevenues,Expenses,andChanges inFundNetPosition 21

StatementofCashFlows 22

 NotestotheFinancialSta

ements 23

REQUIREDSUPPLEMENTARYINFORMATION:

 SchedulesofRevenues,Expenditures,andChangesinFundBalance–BudgetandActual:

GeneralFund 48

StreetFund 49

TransitFund 50

UrbanRenewalAgencyGeneralFund 51

SystemDevelopmentChargesFund 52

SchedulesofOtherPostemploymentBenefitPlans 53

 ScheduleofProportionateShareoftheNetPe

nsion(Asset)/Liability‐PERS 54

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 ScheduleofContributions‐PERS 55

 NotestotheRequiredSupplementaryInformation 56

SUPPLEMENTARYINFORMATION:

 GovernmentalFunds:

Non‐MajorSpecialRevenueFunds:

CombiningBalanceSheet 58

CombiningScheduleofRevenues,Expenditures,andChangesinFundBalance 59

SchedulesofRevenues,Expenditures,andChangesinFundBalance–BudgetandActual:

TransientRoomTaxFund 60

ForfeitureFund 61

CemeteryPerpetualCareFund 62

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CITYOFCANBY,OREGON

TABLEOFCONTENTS(Continued)

June30,2021



 SUPPLEMENTARYINFORMATION(Continued):Page

GovernmentalFunds(Continued)

 SwimCenterLocalOptionTaxLevyFund63

LibraryFund 64

MajorNon‐SpecialRevenueFunds:

SchedulesofRevenues,Expenditures,andChangesinFundBalance–BudgetandActual:

UrbanRenewalAgencyDebtServiceFund 65

 ProprietaryFund:

SchedulesofRevenues,Expenditures,andChangesinFu

ndBalance–BudgetandAc

tual:

SewerCombinedFund 66

 InternalServiceFunds:

CombiningBalanceSheet 67

CombiningScheduleofRevenues,Expenditures,andChangesinFundNetPosition68

CombiningScheduleofCashFlows69

 SchedulesofRevenues,Expenditures,andChangesinFundBalance–BudgetandAc

tual:



FacilitiesFund70

FleetServicesFund71

TechnicalServicesFund72

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STATISTICALSECTION:

 IntroductiontoStatisticalSection74

 NetPositionbyComponent–LastTenFiscalYears75

 ChangesinNetPosition–LastTenFiscalYears76

 FundBalanceofGovernmentalFunds–LastTenFiscalYears78

 ChangesinFundBalancesofGovernmentalFunds–LastTenFiscalYears79

 GovernmentalActivi

tiesTaxReve

nuesbySource–LastTenFiscalYears 80

 AssessedValuesandEstimatedActualValueofTaxableProperty–LastTenFiscalYears 81

 PropertyTaxRates–LastTenFiscalYears 82

 PrincipalPropertyTaxpayers–CurrentYearandNineYearsAgo 83

 PropertyTaxLeviesandCo

llections–La

stTenFiscalYears 84

 RatiosofOutstandingDebtbyType–LastTenFiscalYears 85

 RatiosofGeneralBondedDebtOutstanding–LastTenFiscalYears 86

 DirectandOverlappingGovernmentalActivitiesDebt–June30,2021 87

 LegalDebtMarginInformation–LastTenFiscalYears 88



 Pledged‐RevenueCoverage–LastTenFiscalYears 89

 DemographicStatistics–LastTenFiscalYears 90

 PrincipalEmployers–CurrentYearandNineYearsAgo 91

 Full‐TimeEquivalentCityGovernmentEmployeesbyFunction–LastTenFiscalYears 92

 OperatingInd

catorsbyFunction–LastTenFiscalYears 93

 CapitalAssetStatisticsbyFunction–LastTenFiscalYears 94

COMPLIANCESECTION:

 IndependentAuditor’s ReportRequiredbyOregonStateRegulations 96



INTRODUCTORYSECTION

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i

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LetterofTransmittalfortheFiscalYearEndedJune30,2021

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June30,2022

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TotheHonorableMayor,CityCouncil,andCitizensoftheCityofCanby,Oregon:

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Statelawrequiresthateverygeneralpurposelocalgovernmentpublish,withinsixmonthsofthecloseofeach

fiscalyear,acompletesetofauditedfinancial statements.InJulyof2021thecity experiencedturnoverofkey

FinanceDepartmentstaff,followedbyasubstan

ialdelayinreplacingthestaff.Theconsequenceoftheseevents

wereadelayinthecompletionofauditedfinancialstatements.Thisreportispublishedtofulfillthatrequirement

forthefiscalyearendedJune30,2021.

Managementassumesfullresponsibilityforthecompletenessandreliabilityofthei

nformationcontainedinthis 

report, based upon a comprehensive framework of internal control that it has establis hed  for this  purpose.

Becausethecostofinternalcontrolshouldnotexceedanticipatedbenefits,theobjectiveistoprovidereasonable,

ratherthanabsolute,assurancethatthefinancialstatementsarefreeofanymat

rialmisstatements.

GroveMueller&Swank,P.C.,Certified PublicAccountants,haveissuedanunmodified(“clean”)opiniononthe

CityofCanby’sfinancialstatementsfortheyearendedJune30,2021.Theindependentauditor’sreportislocated

atthefrontofthefinancialsectionofthisreport.

Managemen

’s discussion and analysis (MD&A) immediately follows the independent auditor’s  report and

providesanarrativeintroduction,overview,andanalysisofthebasicfinancialstatements.MD&Acomplements

thisletteroftransmittalandshouldbereadinconjunctionwithit.

CanbyProfile

TheCityofCanby,incorporatedin1893,islocatedinthewesternpartofthestate,whichisconsideredtobeone

ofthetopgrowthareasinthestate.Itcurrentlyoccupies4.5squaremilesandservesapopul a tionof17,860.The

City of Canby is empowered to levy a property tax on real pro

perty located within its boundaries. It also is

empoweredbystatestatutetoextenditscorporatelimitsbyannexation.

TheCityofCanbyoperatesunderthemayor‐councilformofgovernmentconsistingofthemayorandsixother

members,allofwhomareelectedatlarge.Councilmem

ersservefour‐yearterms,withthreememberselected

everytwoyears.TheMayoriselectedforatwo‐yearterm.TheMayor,withCouncilapproval,appointstheCity

ofCanbyAdministrator,whointurnappointsitsdepartmentheads.Policy‐makingandlegislativeauthorityare

vestedinthegoverningcouncil(Council

)

The City of C

anby provides a full range of services consisting of public safety, municipal court, waste water

treatment,stormwatermanagement,streetmaintenance,planningandzoning,economicdevelopment,parkand

recreation, swim center, library, transit, cemetery maintenance, and general administrative services.Water

City of Canby



ii

distribution services are provided through Canby Utility Board (CUB), a legally separate component unit.  CUB

provides water services to the City of Canby residents and is reported separately within the City of Canby’s

financial statements. The City of Canby also is financially accountable for an urban renewal agency which is

includedasapartoftheCityofCanby’sfinancialstatements.Additionali

nformationonCUBcanbefoundinthe

notestothefinancial statements.

TheCouncilisrequiredtoadoptabudgetforthefiscalyearnolaterthanJune30precedingthebeginningofthe

fiscalyearonJuly1.This a

nnualb

udgetservesas thefoundationfortheCityofCanby’s financialplanningand

control. The budget is prepared by fund, and department. Department heads may transfer resources within a

departmentastheyseefit.Transfersbetweendepartments,however,needspecialapprovalfromthegoverning

council.

CanbyEconomy

LocaldevelopmentisactivelypromotedbytheCity’seconomicdevelopmentdepartment.Majoreventsinclude 

theCanbyFarmersMarket, Clackamas County Fair, Independence Day Celebration, andCanby’s Big Night Out.

ThecommunityislocatedontheMolallaRiverandHighway99E,just4milesfromI‐5.

The City of Canby is a s

uburb of the Portland Metro area with  a commu

nity of residences, schools, and

approximately680businesses.Majorindustriesincluderetail,medical,professionalservices,financialinstitutions,

insurancecompanies,wholesale,lightindustrial,m anufacturing,andagriculture.Thesurroundingareacontains

someoftherichestfarmlandinOregon.Localnurseriesproduceawidevarietyofplants,bulbsandseeds.The

schooldistri

ctandCityofCanbyalsohaveasignificanteconomicpresence,employingintotalapproximately600

people.

Thedowntownbusinessdistrictishometocommercialbusinesses,governmentbuildings,financialinstitutions,

medical offices, an eight‐screen movie theater with adjacent public parking, and a variety of shops and

restaurants.Establishedcommercialareashavebee

improvedwiththehelpoffundingfromtheCanbyUrban

Renewal Agency.Façade and streetscape improvements, gateway sign projects, business recruitment and

retention and strategic planning for the business districts have all been funded by urban renewal. Industrial

growthhasbeenspurred bythedevel

pmentoftwoindustrialparks:LoggingRoadIndustrial ParkandCanby

Pioneer In dustrial Park.  The development of these parks has resulted from the combined efforts of local

landownersandtheCityofCanby,CanbyUrbanRenewal,andstatesources.Plansareunderwaytoaddadditional

accesstoindustrialproper

tieswithintheCanbyPioneerIndustrial Parktoalleviatetrafficpressureoncommuter

roads.

Becauseofitslocationinaregionwithavariedeconomicbase,unemploymentrateshavedeclinedoverthepast

ten years, the unemployment rate in 2010 was 10.6% and has dropped annually to a low of 3.6% in 2018

.

Une

mploymentforClackamasCountywas5.6%asofJune30,2021.

Median household incomes within the City of Canby are significantly higher than for the state as a whole.

Accordingtothe2017censusestimates,thegovernment’smedianfamilyincomewas$66,220,thecounty’swas

$72,408,whileth

e state’s

 was $45,623.Canby’s  population has seena steady increase since the 2010 census,

currentestimatesare17,860asofJune30,2020.Attheendofthesecondquarterof2020,themedianpriceofa

singlefamilyhomeintheCityofCanbywas$326,900.

Moody’sInvestorsServiceupgradetheCityofCanby’slong‐termissuerratinginearly2019fromA1toAa3.The

ratingactionaffectsapproximately$22.1millioninrat

edfullfaithandcreditdebtoutstanding.Theupgradeto

Aa3reflectsthecity’srecoveredtaxbaseandimprovedfinancialpositionthroughconsecutiveyearsofstructurally



iii

balancedoperations.Totaldebtliabilitiesofthecityarebelowaveragerelativetosimilarlyratedpeersandwill

continuetoamortizegivennoadditionalnear‐termdebtfinancingplans.

Long‐termFinancialPlanningandMajorInitiatives

TheCity  of Canby, likeother political subdivisions inthe Stateof Oregoncontinuestoface increasing financial

challengesinlightofvoterapprovedpropertytaxlimi tationsandtheon‐going,naturalincreasesincostofservice

delivery.Expectationsarenowformodestrevenuegrowth.

Unrestrictedfundbalance(thetotalofthecommitted,assigned,an

dunassignedcomponentsoffundbalance)in

the generalfund atyear end was 43% of totalgeneral fundrevenues.Thisamount was in line with the policy

guidelinessetbytheCouncilforbudgetaryandplanningpurposes(30‐40%ofgeneralfundoperatingrevenues).

Upcomingmajorinitiativesinclude:

 Aroadconne

ctionfrom PioneerI

ndustrialParktoHighway99E.Thisis amulti‐yearprojectwith many

facetsincluding,right‐of‐wayacquisition,design,geotechnicalreview,constructi on andcoordinationwith

ClackamasCountyandtheOregonDepartmentofTransportation(ODOT).

 TheconstructionofagatewayarchonGrantSt.thatwillwelco

evisitorsandcitizenstothedowntown

area.

 ImplementationofarailroadquietzonebetweenIvyStandElmSt.Thisprojectis amulti‐yearinitiative

thatinvolvescoordinationwithODOT,theCityandPacificRailroad.Therewillbesafetyimprovementsat

theIvy St, Gr

antSt,and El

mSt intersectionsthat willallowthetrainsto travelthrough thedowntown

areawithouthavingtoblowtheirhornsdisruptingcitizenslivinginthedowntowncore.

 NLocust,NE4thtoNE10thAvenueimprovementsincludethefollowing:Curbs,sidewalk,sanitarysewer,

stormwaterandlightingimprovements.

 Improveme

ntswill be madetoS. Ivy Street between OR99‐E andLee Elementary School. Projectwork

includesthe following:Constructionofsidewalksandabike lane,ConstructADAimprovements,Install

signal at the intersection of S. Ivy Street and Township Road Address residential driveway within the

intersectionare

a.

 BeginconstructionofthenewTransitOffice.

 Replacementoftheplayground equipmentandLocustStPark.

 PavingprojectsonSRedwood,SW13thSBergParkwayandNE2ndAvestreets.

 UpgradetothesewersystemonSIvyfrom99Eto13

.

 SafewaypumpstationconversionpermitstheabandoningoftheSa feway SanitarySewerPumpingSta tion

and instead use an 8” gravity line extending from Safeway Shopping Center to the existing sewer

dischargingtothe3

andBakerPumpStation.

The City of Canby maintains a five‐year Capital Improvement Plan which serves as a guide to ensure that its

infrastructureisconstructedinamannerthatfitswith thegrowthoftheCity.ThisprocessgivestheCityofCanby

theabilitytoplanforitscapitalneedsandalloca

teshortandlong‐

termresourcesappropriately.Aspartofthis

process,thegovernmen t identifiesandquantifiestheoperationalcosts  associatedwithitscapitalprojectsand

budgets resources accordingly. In addition, the Fleet Department monitors the condition ofall equipment and

vehiclesandmakesrecommendationsontheirrepairandreplacement.



FactorsAffectingtheCity’sFinancialCo ndition

Thevolumeofinquiriesandapplicationssubmittedtoourplanningdepartm entindicatesresidential,commercial,

iv

andindustrialgrowth.

TaxBase—Propertyissubjecttoamaximum3%increaseinassessedvalueperyear.Withtheannual3%increase

andboomingdevelopmenttheCityhasseenasteadyincreaseinpropertytaxrevenuesoverthepastfewyears.

Generalfundpropertytaxreceiptsforthecurrentyearwere5.9%greaterthanthepreviousyear.

InNovember2008,th

evotersofClackamasCountyapproveda county‐widelibrarydistrict.TheCity’sshareof

revenuesfromthelibrarydistrictinFY20was$1,012,388.

Special Tax Levy—Voters approved a renewal of a five‐year (2018‐2022) local option levy for Swim Center

operations.Thelevyisbasedona  fixedrateof$0.49

per$1,000ofassessedpropertyvalue.The propertytax

revenuefromthelocaloptionlevyisusedtofundcurrentSwimCenterservices,lifeguards,andprovideforpool

maintenance.Thelevyisbasedona5‐yearoperatingplan crea

tedbytheBudgetCommittee,CityCounciland

City staff. Th

e Swim Center is fully fundedthrough a combination of levy dollars and user fees.Fees paid for

approximately5%ofoperatingcosts,adramaticdownturnduetoCovidrestrictions.

AwardsandAcknowledgements

Wegreatlyappreciatetheprofessionalism,commitment,andeffortsetforthbytheMayor,CityCouncil,Budget

Committee,CityAdministratorandDepartmentDirectorswhoseleadershipisintegraltothehealthandvitality

ofCanby.

Respectfullysubmitted,

EricKytola

FinanceDirector



v







vi

CITYOFCANBYORGANIZTIONALCHART–20202021

MAYOR&COUNCIL

Munici palJudge

CityAdministrator

CityAttorney

Enterprise

Fund

Sewer

InternalService

Funds

WasteWater

Treatment

Plant

Department

Sewer

Col lections

Department

TransitFund

FacilitiesFund

Police

Department

Cemetery

Department

FleetFu nd

LibraryFund 

Special

RevenueFund s

Economic

Development

Department

SwimCenter

Fund

GeneralFund

Administration

Dep artment

Finance

Dep artment

Court

Dep artment

Planning

Dep artment

Building

Dep artment

StreetFun d

TechSer vices

Fund

Stormwater

Department

Cemetery

PerpetualCare

Fund

Forfeiture

Fund

System

Development

Cha rgesFund

Transient

RoomTaxFund



CITYOFCANBY,OREGON

PRINCIPALOFFICIALS

June30,2021

vii



CityOfficialsTermExpires

 BrianHodson,MayorDecember31,2022

 Canby,Oregon97013

CouncilMembers

 TraciHensley,PresidentDecember31,2024

 Canby,Oregon97013

ChristopherBangsDecember31,2024

 Canby,Oregon97013 

 GregParkerDecember31,2022

 Canby,Oregon97013

 SarahSpoonDecember31,2024

 Canby,Oregon97013

JordanTibbalsDecember31,2022

 Canby,Oregon97013

ShawnVarwigDecember31,2022

 Canby,Orego

n97013





CityAdministration

ScottArcher CityAdministrator

 EricKytolaFinanceDirector



CouncilmembersreceivemailattheCity’saddress:

CityHall

222NE2

Avenue

POBox930

Canby,Oregon97013



1

FINANCIALSECTION

INDEPENDENT AUDITOR’S REPORT

Honorable Mayor and Council Members

City of Canby

222 NE 2

Avenue

Canby, Oregon 97013

Report on the Financial Statements

We have audited the accompanying financial statements of the governmental activities, the business-type activities,

each major fund, and the aggregate remaining fund information of the City of Canby, Oregon (the City) as of and for

the year ended June 30, 2021, and the related notes to the financial statements, which collectively comprise the City’s

basic financial statements as listed in the table of contents.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with

accounting principles generally accepted in the United States of America; this includes 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.

Auditor’s Responsibility

Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the

financial statements of the discretely presented component unit (Canby Utility Board), which represent 32 percent,

35 percent, and 39 percent, respectively of the assets, net position, and revenue of the City. Those financial statements

were audited by other auditors whose report thereon has been furnished to us, and in our opinion, insofar as it relates

to the amounts included for the discretely presented component unit, is based solely on the report of the other auditors.

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. Those standards require that we plan and perform the audit to obtain

reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial

statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of

material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments,

the auditor considers internal control relevant to the City’s preparation and fair presentation of the financial statements

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, we express no such opinion. An audit also

includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting

estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit

opinions.

Opinions

In our opinion, based on our audit and the report of other auditors, the financial statements referred to above present

fairly, in all material respects, the respective financial position of the governmental activities, the business-type

activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information

of the City of Canby, Oregon, as of June 30, 2021, 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.

Other Matters

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management’s discussion

and analysis (MD&A) and the schedules of revenues, expenditures and changes in fund balance – budget and actual

for the General, Street, Transit, Urban Renewal – General Fund and System Development Charges funds (“the

budgetary schedules”), the City’s PERS schedules and the City's OPEB schedules be presented to supplement the

basic financial statements. Such information, 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 management’s discussion and analysis, PERS schedules and OPEB schedules described in the

preceding paragraph 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.

The budgetary schedules described above is the responsibility of management and were derived from and relate

directly to the underlying accounting and other records used to prepare the basic financial statements. The budgetary

schedules have 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 budgetary schedules are fairly stated, in all material respects, in relation to the

basic financial statements as a whole.

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 supplementary information is presented for purposes of additional analysis

and is not a required part of the basic financial statements.

The supplementary 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. Such 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

The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the

basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.

Reporting Required by Legal and Regulatory Requirements

Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated June 30, 2022 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 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 the City’s internal control over financial reporting and compliance.

Reporting Required by Oregon Minimum Standards

In accordance with Minimum Standards for Audits of Oregon Municipal Corporations, we have issued our report

dated June 30, 2022, on our consideration of the City’s compliance with certain provisions of laws and regulations,

including the provisions of Oregon Revised Statutes as specified in Oregon Administrative Rules. The purpose of

that report is to describe the scope of our testing of compliance and results of that testing and not to provide an opinion

on compliance.

GROVE, MUELLER & SWANK, P.C.

CERTIFIED PUBLIC ACCOUNTANTS

By: ______________________________

Ryan T. Pasquarella, A Shareholder

June 30, 2022

CITYOFCANBY,OREGON

MANAGEMENT’SDISCUSSION&ANALYSIS

June30,2021

5

ThissectionoftheCityofCanby’sAnnualComprehensiveFinancialReportforthefiscalyearendedJune30,2021

presentsthehighlightsoffinancialactivitiesandillustratesthefinancialpositionoftheCityofCanby,Oregon(the

City) and the Canby Utility Board (CUB),a discretely presented componen t unit of the City, for the fiscal year

endedJune30,2021(FY2021).

Thishasbeenpreparedbymanagementandshouldbereadinconjunction with

thefinancialstatementsandnotes.

FINANCIALHIGHLIGHTS

Government‐Wide

 TheCity’scombinednetpositionwas$123.7millionatJune30,2021.Ofthisamount,$10.1millionmay

be used to meet the City’s ongoing obligations to its citizens and credi

tors (unrestricted net position).

Totalnetpositionincreased$7.0million(6.0%)fromtheprioryear.

 Canby’stotalassetsincreasedby$7.6millionduringFY21.Totalassetsconsist ofcurrentandnoncurrent

assets.Current assets were $39.3 million atthe  end of FY21. Of thatamount, $35.7 millio

n(91.0%)  of

currentassetswerein

cashandcashequivalents.Capitalandlong‐termassets(netofdepreciation)were

$118millionattheendofFY21.Capitalandlong‐termassetsincreasedby$1.0million (0.8%)duringFY21.

Theprimaryreasonfortheincrease isduetoth

edelayofworkonmajor

capitalprojectsandtheARPA

fundsreceivedbythecity.

 Amounts related to pensions and OPEB have increased. In FY20 the City had a net pension and OPEB

liabilityof$11.4millionandattheendofFY21thisincreasedto$

14.8million,a9.9%changetothetotal

noncurrentliabilitiesoftheCity.

FundLevel

 TheCity’sGeneralFundreportedanendingfundbalanceof$3.9million,anincreaseof$551thousand

(16.6%)fromtheprioryear;mainlyduetoARPAfundsandlesscapitaloutlaythanbu

dgeted.

 ThetotalGovernmentalfunds’endingfundbalancewas$28.0million,anincreaseof26.1%inFY21.

 Intheaggregate,theEnterpriseandInternalServicefunds’endingfundbalanceequivalent,netposition,

was$24.4million,anincreaseof$2.4million(10.7%)fortheyear.

 TotalFY21PropertyTa

revenuewas$10.6million,anincreaseof8.0%fromFY20levels.

OVERVIEWOFTHEFINANCIALSTATEMENTS

ThisdiscussionandanalysisservesasanintroductionandsummaryoftheCity’sbasicfinancialstatements.Itis

followedbythebasicfinancialsta tementsthemselves,whicharecomprisedofthreeelements;Government‐Wide

FinancialStatements,FundFinancialStat

ements,andNotestotheFinancialStatements.Thisreportalsocontains

requiredandothersupplementaryinformationinadditiontothebasicfinancialstatements.

Government‐WideFinancialStatements

ThegovernmentwidefinancialstatementsaredesignedtoprovidereaderswithabroadoverviewoftheCity’s

finances,inamannersimilartoaprivate‐sectorbusi

ess.

Oneway toevaluate theCity’sfinancialpositionis bymeasuring theCity’snet positionsandhow theychange

over time. Both of these  government‐wide financial statements distinguish functions of the City that are

principally supported by taxesand intergovernmental revenues (governmental activities) fr

om other functions

thatareintendedtorecoverallorasignificantportionoftheir coststhroughuserfeesandcharges(business‐type

activities).

CITYOFCANBY,OREGON

MANAGEMENT’SDISCUSSION&ANALYSIS

June30,2021

6

TheStatementofNetPositionincludestheCity’sassets,deferredoutflowsofresources,liab ilities, anddeferred

inflows of resources with the difference reported as net position. Over time, increases and decrease s in net

positionmayserveasausefulindicator ofimprovem ents ordeteriorationoftheCity’sfinancialposition.

The City’s net position tot

aled $123.7 million as of June 30, 2021. The City’s net investme nt in capital assets

accounts for the majority of the City’s net position. The City has invested $97.9 million in land, buildings,

equipment,andinfrastructure(netofdepreciationandoutstandingdebtusedtoacquire thoseassets).TheCity

usestheseas

setstoprovideservices toitscitizenssotheyarenotassetsthatareavailableforfuturespending.

Restrictednetposition($15.7million)relatestoamountsthatarelegallyrestrictedforspecificfutureobligations.

Unrestrictednetposition($10.1million)isavailabletomeettheCity’son‐goingobligations.







 





2021 2020 2021 2020 2021 2020 Change

Assets

Currentandotherassets 30,859,621$ 24,274,667$ 8,419,661$ 8,403,676$ 39,279,282$ 32,678,343$ 20.2%

Capitalassets 100,300,176 101,957,800 17,673,977 15 ,037,734 117,974,153 116,995,534 0.8%

Totalassets 131,159,797 126,232,467 26,093,638 23 ,441,410 157,253,435 149,673,877 5.1%

TotalDeferredOutflows 4,527,92

 3,759,036 486,335 401,430 5,014,255 4,160,466 20.5%

Liabilities

Long‐termliabilities 29,457,505 31,637,059 1,467,017 1,124,841 30,924,522 32,761,900 ‐5.6%

Otherliabilities 6,783,805 2,901,493 328,944 370,740 7,112,749 3,272,233 117.4%

Totalliabilities 36,241,310 34,538,552 1,795,961 1,495,581 38,037,271 36,034,133 5.6%

TotalDeferredInflows 501,023 1,044,155 51,530 111,506 552,553 1,155,661 ‐52.2%

NetPosition

Netinvestmentincapital

assets 80,195,011 79,788,252 17,673,977 15,037,734 97,868,988 94,825,986 3.2%

stricted 15,681,220 13,334,765 ‐ ‐ 15,681,220 13,334,765 17.6%

Unrestricted 3,069,153 1,285,779 7,058,505 7,198,019 10,127,658 8,483,798 19.4%

Totalnetposition 98,945,384$ 94,408,796$ 24,732,482$ 22,235,753$ 123,677,866$ 116,644,549$ 6.0%

GovernmentalAct ivities Business‐TypeActivities Tota l

CITYOFCANBY,OREGON

MANAGEMENT’SDISCUSSION&ANALYSIS

June30,2021

7

TheStatementofActivitiespresentsthechangesinnetpositionbydetailingthe revenuesandexpensesforthe

FiscalYears2021and2020.ThisinformationisbrokenintoGovernmentalandBusiness‐typeActivities.Revenues

andexpensesaresegregatedbygeneralcategories(revenues)andprograms(expenses).



StatementofActivities



Governmentalactivities

Governmentalactivitiesnetpositionincreasedby$4

.5million(4.8%),thisismai

nlyduetoanincreaseinrevenue.

Totalrevenueincreasedby$2.3million(9.2%)mainlyduetoanincreaseinpropertytaxesandtheARPAgrant

funds.Totalexpensesdecreased$1.6million(6.8%),this decreaseismainlyduetoadecreas ein

capitaloutlayin

streetandroadconstructionprojects.

Thegovernmental activitiesof theCityincludesixmajorfunds:generalfund, streetfund, transitfund,system

developmentchargefund, urbanrenewalgeneralfundandtheur ban renewaldebtservice fund.Informationis

2021 2020 2021 2020 2021 2020

Revenues

Progra mrevenues

Chargesfors ervi ces 4,737,591$ 4,528,429$ 4,460,413$ 4,322,371$ 9,198,004$ 8,850,800$

Oper a tinggrantsandcontri buti ons 3,955,933 4,190,555 ‐ ‐ 3,955,933 4,190,555

Capitalgrantsandcontri butions 3,397,960 2,261,717 ‐ 74,634 3,397,960 2,336,351

Generalrevenues

Propertytaxes 10,625,478 9,835,249 ‐ ‐ 10,625,478 9,835,249

Transi tta xes 1,790,583 1,569,157 ‐ ‐ 1,790,583 1,569,157

Transi entRoomTaxes 21,000 21,132 ‐ ‐ 21,000 21,132

Franchis e 1,672,933 1,

35,603 ‐ ‐ 1,672,933 1,635,603

Unrestrictedintergovernmenta l 1,045,263 599,236 ‐ ‐ 1,045,263 599,236

Interes tandinvestmentincome 195,651 481,307 59,584 146,204 255,235 627,511

Otherrevenues 205,712 198,290 9,025 18,180 214,737 216,470

Totalre venue s 27,648,104 25,320,675 4,529,022 4,561,389 32,177,126 29,882,064

ProgramExpenses

Generalgovernment 5,700,556 4,907,284 ‐ ‐ 5,700,556 4,907,284

Public s a fety 6,008,163 6,313,592 ‐ ‐ 6,008,163 6,313,592

Highwaysands treets 4,497,361 6,

00,318 ‐ ‐ 4,497,361 6,200,318

Tra nsportation 1,839,235 1,970,063 ‐ ‐ 1,839,235 1,970,063

Cultur eandr ecreation 2,483,163 2,673,890 ‐ ‐ 2,483,163 2,673,890

Communi tydevel opment 878,645 893,524 ‐ ‐ 878,645 893,524

Interestonlong‐termexpens e 905,915 972,294 ‐ ‐ 905,915 972,294

Seweroper ations ‐ ‐ 2,830,771 2,586,158 2,830,771 2,586,158

Totalexpenses 22,313,038 23,930,965 2,830,771 2,586,158 25,143,809 26,517,123

Changeinnetpositionbeforetr

ansfers

335,066 1,389,710 1,698,251 1,975,231 7,033,317 3,364,941

Trans fersin(out) (798,478) 40,044 798,478 (40,044) ‐ ‐

Changeinnetposi ti on 4,536,588 1,429,754 2,496,729 1,935,187 7,033,317 3,364,941

Netposition‐be ginningofyear 94,408,796 92,979,042 22,235,753 20,300,566 116,644,549 113,279,608

Netposition,endofyear 98,945,384$ 94,408,796$ 24,732,482$ 22,235,753$ 123,677,866$ 116,644,549$

Governmenta lActivit ies Business‐TypeActivities Total

CITYOFCANBY,OREGON

MANAGEMENT’SDISCUSSION&ANALYSIS

June30,2021

8

presentedseparatelyinthegovernmentalfundbalancesheetandinthegovernmentalstatementofrevenues,

expendituresandchangesinfundbalanceforeachofthesemajorfunds.Datafromtheremaininggovernmental

fundsarecombinedintoasingle,aggregatedpresentation.

Individual fund data for each  of the non‐major governmental funds is provided in the form of combinin

g

statementselsewhereinthereport.

The City also has one blended component  unit, the Urban RenewalAgency (URA).Blendedcomponent units,

althoughlegallyseparateentitiesare,insubstance,partofthegovernment’soperationsandsodatafromthese

unitsarecombinedwithdataoftheprimarygovern

ment.TheactivitiesoftheURAarereportedwithinacapital

projectsfundandadebtservicefundfortheCity.CompletefinancialstatementsfortheURAfortheyearended

June30,2021,maybeobtainedatCanbyCityHall,222NE2

Ave.,Canby,Oregon97013.

Business‐typeactivities

Thebusiness‐typeactivityoftheCityencompassesthesewertreatment,collectionandstormwateroperations.

Business‐typeactivitiesnetpositionincreasedby$2.5million(11.2%),thisincreaseismainlyduetoanincrease

incapitalassetsandcashreserves.Totalrevenuedecreasedby$32thousan

d(0.7%)mainlydu

etoan decreasein

interestandotherrevenue.Totalexpensesincreased$245thousand(9.5%)mainlyduepersonnelcostsallocated

totheSewerFund.

TheCanbyUtilityBoard(CUB)isresponsibleforprovidingwaterandelectricservicestoresidentialandcommercial

customers within the city limitsof Canby.CUB is a l

gally separate entity from the City, governed by a board

appointed by the Mayor of the City and confirmed by the majority of the City Council.CUB is reported as a

discretely presented component unit, consistent with GASB Sta tement No. 61.Completefinancial statements

maybeobtainedatCUB’sadministrativ

eoffice,1265SE3

Avenue,Canby,Oregon97013.

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, like other state and local governments, uses fund accounting to

ensureanddemonstratecompliancewithfinancerelatedlegalre

quireme

nts.AllofthefundsoftheCitycanbe

dividedintothefollowingtwocategories:GovernmentalFundsandProprietaryFunds.

GovernmentalFunds

Governmentalfundsareusedtoa ccount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aswell

asonbalancesofspendableresourcesavailableattheendofthefiscalyear.Suchinformationmaybeusefulin

determiningwhatfinancialresourcesareavailableinthenearfuturetofinancetheCity’sprograms.

Becausethefoc

sofgovernmentalfundsisnarrowerthanthatofthegovernment‐widefina ncial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 ‐ter

mimpa

ctofthegovernment’snear‐termfinancingdecisions.Reconciliationsareprovidedforboth

the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and

changesinfundbalancestofacilitatethiscomparisonbetweengovernmentalfunds andgovernmentalactivities.

CITYOFCANBY,OREGON

MANAGEMENT’SDISCUSSION&ANALYSIS

June30,2021

9

Attheendofthefiscalyear,theCity’sgovernmentalfundsreportedacombinedending fundbalancesof$28.0

million,anincrease$5.8million(26.1%).Changesinfundbalanceformajorfundsconsistedofthefollowing:

 GeneralFund‐Fundbalanceincreased$0.6million(16.6%)mainlyduetotheARPAgrantfunds.



StreetFund–Fundbalanceincreased$2.1million(101.1%)duetoreductionincapitaloutlayexpenditures.

 TransitFund–Fundbalanceincreased$0.7million(29.6%)duetoreductionincapitaloutlayexpenditures.

 SDCFund–Fund balanceincreased$1.4million(14.0%) duetocontinuedincreasesindevelopmentactivity

coupledwiththered

uctionincapitaloutlayexpenditures.

 UrbanRenewalDebtServiceFund–Fund balanceincreased$0.7million (29.2%)duetothereductionin

capitaloutlayexpenditures .

 



ProprietaryFunds

ProprietaryFundsaregenerallyusedtoaccountforservicesforwhichtheCitychargescustomers.Proprietary

Fundsprovidethesamety

peofinformationasshowninthegovernment‐widefinancialstatements,onlyinmore

detail.TheCitymaintainsfourproprietaryfunds.TheSewerCombinedFundisanenterprisefund(Business‐Type

Activities) which accounts for the operations of the sewer treatment plant, sewer collect ion system,  and the

stormwatersy

tem.ThefundistreatedasamajorfundoftheCity.TheCityalsomaintainsthreeinternalservices

funds for Facilities, Technical Services and Fleet; these are proprietary funds as they operate on a charge for

service basis but as their primary client base is other City departments/programs these fu

nds are reported as



GovernmentalActivitiesintheStatementofNetPositionandStatementofActivities.

GeneralFundStreetFundTransi tFund

System

Development

ChargeFund

Urba n

Rene wal

GeneralFund

Urban

RenewalDeb t

Serv iceFund

Other

Governmental

FundsTotal

BalancesJune30,2 020

3,3 24,431$ 2,110 ,399$ 2,418,761$  9,907 ,514$ ‐$ 2,23 2,524$ 2,185,147$ 22,178,776$

ChangeinFundBalance

551,114 2,133 ,450 716,454 1,390 ,500 ‐ 651,1 65 351,204 5,793,887

ndBalancesat

June30,2021

3,8 75,545$ 4,243 ,849$ 3,135,215$  11,298,014$ ‐$ 2,883,6 89$ 2,536,351$ 27,972,663$

OnaModifiedAccrualBasis

FiscalYear20 21

GovernmentalFunds:ChangesinFundBalance

CITYOFCANBY,OREGON

MANAGEMENT’SDISCUSSION&ANALYSIS

June30,2021

10

 



NotestotheFinancialStatements

Thenotestothefinancialstatementsprovideadditionalinformationthatisessentialtoafullunderstandingof

thedataprovidedinthego vernment‐wideandfundfinancialstatements.

RequiredSupplementaryInformation

In addition to the basic financial statements  and accompanying notes, this report presents cert

ain required

supplem

entaryinformation(RSI) concerning theCity.The RSI(exclu dingthe MD&A)is presentedimmediately

followingthenotestothefinancialstatements.

GENERALFUNDBUDGETHIGHLIGHTS

TheGeneralFundbudgetaryscheduleintheRSIsectionshowsthattheoriginalappropriations werealteredwith

a supplemental budget and an appropriation transfer resulting in an in

rease to overall expenditure

appropriations.

FinalBudgetComparedtoActualResults–GeneralFund

Expenditures of $10.9 million were originally budgeted in the General Fund including a 1.8% operating

contingency.General Fund budget changes approved by  the City Council increased appropriations  by about

$448,000.Theincreaseismainlydu

etotheonetim

ePERSUALsideaccountcontributiontotakeadvantageofa

SewerFund

Facilities

FundFl eetFund

Tech

Services

FundTotal

NetPositionatJune30,2020 22,235,753$ (50,234)$ (131,374)$ 13,20 8$ 22,067,353$

Chan geinNetPos i ti on 2,496,729 (22,834) (74,267) (44,137) 2,355,491

NetPositionatJune30,2021 24,732,482$ (73,068)$ (205,641)$ (30,929)$ 24,422,844$

InternalServiceFunds

OnanAccrualBasis

FiscalYe

ar20

Proprieta r yandInternal ServiceFunds:Ch angesinNetPosition

CITYOFCANBY,OREGON

MANAGEMENT’SDISCUSSION&ANALYSIS

June30,2021

11

25%matchinfundingbytheStateof Oregon.Theyear‐endgeneralfundbalancewas$0.9million higherthan

budgetedwithmajorvariancesasfollows:

 Beginningfundbalancewas$15thousandhigherthanbudgetedduetosavingsintheprioryear.

 Expenditurescamein$361thousandlowerthanbudgeted.

o $111thousan

d–delayofParksMasterPlanupdateandcapitalprojects

o $185thousand‐vacancysavingsandlower insurancecosts 

o $65thousand–theremainingreducedexpendituresarespreadthroughou ttheentirefundand

arenotrelatedtoanyspecificitem.

CAPITALASSETS

Astheschedulebelowdis

plays,infrastructureintangiblesandla

ndarethelargestcompone ntsofgovernmental

activities’ capital assets which include streets improvements and land for buildings, park s  and roadways. The

largest component for business‐type activities is the wastewater treatment plant and sewer collections

infrastructure.



Capitalassetsusedingovernmentalactivitiesintotaldecreasedapproximately$1.7million(1.6%)whichwasthe

net result of additions, dis posals  and depreciation. Capital assets used in business ‐type activities increased by

approximately$2.6million(17.5%)whichwasthenetresultofadditions,disposalsanddepreciation.Additional

informationabouttheCity’scapitalassetsandde

preci

ationcanbefoundintheNotestotheFinancialStatements

onpages29‐30.

DEBTADMINISTRATION

Atyear‐end,theCityhad$20,906,465inlong‐termobligationsoutstandingcomparedto$23,031,624intheprior

year.OftheobligationsoutstandingatJune30,2021,$4,785,088isduewithinoneyear.Th

eCityre

fundedits

outstandingbondsinthecurrentyeartoreducetheinterestrateandhaveanetpresentvaluesavingsinfuture

payments of approximately $5.6 million. Additional information can be found in the Notes to the Financial

Statementsonpages32‐33.



2021 2020 2021 2020 2021 2020

Land 13,279,710$ 13,279,710$ 1,155,911$ 1,155,911$ 14,435,621$ 14,435,621$

Intangibl es 36,724,734 36,724,734 5,500 5,500 36,730,234 36,730,234

Cons tructi oninProgres s 1,347,529 1,763,778 1,800,226 648,720 3,147,7 55 2,412,498

Infras tructure 27,950,264 29,825,268 5,470,393 3,670,529 33,420,657 33,495,797

Buildingsandi mprovements 18,772,383 18,698,902 8,893,410 9,143,802 27,665,793 27,842,704

Machineryandequipment 318,886 307,050 122,095 137,589 440,981 444,639

Vehi cl es 1,906,670 1,358,358 226,442 275,683 2,13 3,1 12 1,

634,041

Total CapitalAs s ets $100,300,176  $101,957,800 $17,673,977 $15,037,734 $117,974,153 $116,995,534

CapitalAssetsatFiscalYearEnd

NetofDepreciation

GovernmentalActivities

Business‐TypeActivities Total

CITYOFCANBY,OREGON

MANAGEMENT’SDISCUSSION&ANALYSIS

June30,2021

12

UnderOregonRevised Statutes,generalobligation debtissuesarelimitedto3%ofthe realmarketvalueofall

taxablepropertywithintheCity’sboundaries.TheCityiswellwithinthelimitation.

ECONOMICFACTORSANDNEXTYEAR’SBUDGET

Oregon’sannualaverageunemploymentratewas5.4%inJune2021,downfrom11.6%theprioryear.

Themain

reasonforthedecreaseistheState’srecoveryfromthepandemic.Theultimateeffectsofthepandemicarestill

unfolding,duetotheunusualnatureofthesituationitisnotpossibletoaccuratelypredictunemploymentlevels

forthecomingyear.

The General Fund is the on

e f

und in the City that is the  narrowest in its ability to grow in terms of increased

revenues(duetopropertytaxlimitations)yetitsupportsawiderangeofcriticalgovernmentalfunctionssuchas

publicsafety,municipalcourtservices,parksandcommunitydevelopment.TheCityestimatedthatpropertyta

x

revenueswo

uldincreaseapproximately3.0%overtheprioryearinnextyear’sbudget.

REQUESTSFORINFORMATION

Ifyouhavequestionsaboutthereportorneedadditionalfinancialinformation,pleasecontacttheCity’sFinance

Departmentat222NE2

Ave.,POBox930,Canby,Oregon97013.

2021 2020 2021 2020 2021 2020

Bonds 20,105,165$ 21,061,577$‐$ ‐$ 20,105,165$ 21,061,577$

Loa ns ‐ 1,107,971 ‐ ‐ ‐ 1,107,971

CompensatedAbsens es 686,581 766,994 114,719 95,082 801,300 862,076

Total Obliga tions $20,791,746  $22,936,542 $114,719 $95,082 $20,906,465 $23,031,624

OutstandingObligationsatFiscalYear‐End

GovernmentalActivit ie s

Business‐TypeActivities Total



13



BASICFINANCIALSTATEMENTS

CITYOFCANBY,OREGON

STATEMENTOFNETPOSITION

June30,2021

Theaccompanyingnotesareanintegralpartofthebasicfinancialstatements.

14

Comp onentUni t

Governme ntal Business‐Type Canby

Acti vi ties Activi ti es Total Util i tyBoard

ASSETS

Currentassets:

Cashandca s hequival ents 28,013,338$ 7,729,112$ 35,742,450$ 14,201,586$

Duefromothergovernments 38,876 245 39,121 ‐

Acc ountsreceivable,net 2,517,619 690,304 3,207,923 1 ,807,228

Propertytaxesreceiva bl e 289,788 ‐ 289,788 ‐

Prepaids ‐ ‐ ‐ 24,551

Materialsandsupplies ‐ ‐ ‐ 1,523,485

Restrictedca sh ‐ ‐ ‐ 709,292

Totalcurrenta ssets 30,859,621 8,419,661 39,

279,282 18,266,142

Noncurr entassets:

Cap italassets:

Nondepreci a bl e 51,351,973 2,961,63 7 54,313,610 8,846,211

Depr ecia ble,net 48,948,203 14,712,340 63,660,543 45,550,797

Total noncur renta s s ets 100,300 ,176 17,673,977 117,974,153 54,397,008

Total a s s ets 131,159 ,797 26,093,638 157,253,435 72,663,150

DEFERREDOUTFL OWSOFRESOURCES

Deferredoutfl owsrelatedtoOPEB 144,543 15,815 160,358 25,482

Deferredoutfl owsrelatedtopensions 4,383,377 470,520 4,853,897 1 ,440,389

Totaldeferredoutflo wsofresources 4,527,920

 486,

335 5,014,255 1,465,871

LIABILITIES

Currentliabilities:

Acc ountspa yabl e 2,020,126 242,905 2,263,031 1 ,676,955

Accruedex pens es ‐ ‐ ‐ 275,737

Interes tpaya ble 64,710 ‐ 64,710 ‐

Customer depos its ‐ ‐ ‐ 315,392

Currentporti onoflong‐termobli gati ons 4,698,969 86,039 4,785,008 399,000

 Total currentl iabi li ties 6,783,805 328,944 7,112,749 2 ,667,084

Noncurr entliabilities:

NetOPEBliabi li ty 524,358 56,487 580,84 5 91,728

Noncurr entporti onoflong‐te rmo

bliga ti ons 16,092,776 28,68 0 16,121,456 1,827,000

Netpensionl i a bi li ty 12,840,371 1,381,850 14,222,221 4,190,578

Totalnoncur rentl iabi li ties 29,457,505 1,467,017 30,924,522 6,109,306

Total l iabi li ties 36,241,310 1,795,961 38,037,271 8,776,390

DEFERREDINFLOWSOFRESOURCES

Deferredinflowsrel atedtoOPEB 130,6 76 13,837 144,513 32,823

Deferredinflowsrel atedtopensions 370,347 37,693 408,040 153,247

Totaldeferredi nflows 501,023 51,530 552,55 3 186,070

NETPOSITION

Netin

vestmentinca

pital assets 80,195,011 17,673,977 97,868,988 52,171,008

Restrictedfor:

Drugenforcementandequipment 13,050 ‐ 13,050 ‐

Cap italprojects 11,298,014 ‐ 11,298,014 ‐

Urbanrenewa l debtservic e 2,883,689 ‐ 2,883,689 ‐

Buildings ervi c es 74,785 ‐ 74,785 ‐

Librarys ervi ces 70,771 ‐ 70,771 ‐

Swimcenter 1,291,724 ‐ 1,291,724 ‐

PEGfees 49,187 ‐ 49,187 ‐

Watersystem ‐ ‐ ‐ 381,781

Unrestricted 3,069,153 7,058,505 10,127,658 12 ,613,772

Tota

lnetpositi on  98,945,384$ 2 4,732,482$ 123,677,866$ 65,166,561$

CITYOFCANBY,OREGON

STATEMENTOFACTIVITIES

FortheYearEndedJune30,2021

Theaccompanyingnotesareanintegralpartofthebasicfinancialstatements.

15

Operati ng Capital Business ComponentUni t

Chargesfor Grantsand Grantsa nd Governmental Type Canby

Functi ons/Programs

Ex pens es Services Contributions Contr ibutions Acti vities Activities Total UtilityBoard

Primarygovernment:

Governmentalactivi ties:

Generalgovernment 5,700,556$ 2,333,091$ 2,008$ ‐$ (3,365,457)$ ‐$ (3,365,457)$ ‐$

Publics a fety 6,008,163 36,327 58,755 ‐ (5,913,081) ‐ (5,913,081) ‐

Highwaysands treets 4,497,361 1,444,201 1,978,627 202,467 (872,066) ‐ (872,066) ‐

Tra nsporta ti on 1,839,235 300 892,423 611,894 (334,618) ‐ (334,618) ‐

Cultur eandrecr eati on 2,483,163 500,901 1,024,120 ‐ (958,142) ‐ (958,142) ‐

Communi tydevelopment 878,645 422,771 ‐



 2,583,599 2,127,725 ‐ 2,127,725 ‐

Interes texpense 905,915 ‐ ‐ ‐ (905,915) ‐ (905,915) ‐

Total governmentalac ti vi ties 22,313,038 4,737,591 3,955,933 3,397,960 (10,221,554) ‐ (10,221,554) ‐

Businesstypeactivi ties:

Seweropera ti ons 2,830,771 4,460,413 ‐ ‐ ‐ 1,629,642 1,629,642 ‐

Total prima rygovernment 25,143,809$ 9,198,004$ 3,955,933$ 3,397,960$ (10,221,554) 1,629,642 (8,591,912) ‐

Component Unit:

Electricsystem 12,153,358 13,365,760 ‐ 740,288 1,952,690

Watersys tem 3,508,545 3,900,314

 ‐

 959,218 1,350,987

Total componentuni t 15,661,903$ 17,266,074$‐$ 1,699,506$ 3,303,677

Generalrevenues:

Taxes :

Propertyta xes 10,625,478 ‐ 10,625,478 ‐

Transi tta xes 1,790,583 ‐ 1,790,583 ‐

Transi entroomtaxes 21,000 ‐ 21,000 ‐

Fra nchise 1,672,933 ‐ 1,672,933 ‐

Unrestrictedi ntergovernmentalrevenues 1,045,263 ‐ 1,045,263 ‐

Interes tandinvestmentea rni ngs 195,651 59,584 255,235 120,133

Otherrevenues 205,712 9,025 214,737 1,467,797

Transfersin(out) (798,478) 798,478 ‐ ‐

Total ge

neralr

evenues,tra ns fers 14,758,142 867,087 15,625,229 1,587,930

Changeinnetposi ti on 4,536,588 2,496,729 7,033,317 4,891,607

Netposition ‐begi nning 94,408,796 22,235,753 116,644,549 60,274,954

Netposition ‐endi ng 98,945,384$ 24,732,482$ 123,677,866$ 65,166,561$

Net(Expense)Revenueand

Chan geinNetPos itionProgramRevenues

CITYOFCANBY,OREGON

BALANCESHEET–GOVERNMENTALFUNDS

June30,2021

Theaccompanyingnotesareanintegralpartofthebasicfinancialstatements.

16

General

FundStr eetFundTransitFund

System

Development

ChargeFund

Urban

Renewal

GeneralFund

UrbanRenewal

DebtService

Fund

Other 

Governmental

Funds

Total 

Governmental

Cashandcas hequi valents 4,172,508$ 3,828,482$ 2,912,988$ 11,273,309$ 164,768$ 2,837,979$  2,606,572$  27,796,606$ 

Duefromothergovernments 20,407 ‐ ‐ ‐ ‐ 15,262 3,207 38,876

cco

unts receivable,net 795,059 516,686 1,1 29,036 24,705 ‐ 39,992 11,706 2,517,184

Propertytaxesrecei vabl e 153,256 ‐ ‐ ‐ ‐ 112,446 24,086 289,788

Tota lass ets 5,141,230$ 4,345,168$ 4,042,0 24$ 11,298,014$ 164,768$ 3,005,679$ 2,645 ,571$ 30,642,454$

LIABILITIES:

Accounts paya bleandothercurrentli abi li ties 714,563$ 65,723$ 88 3,956$ ‐$ 164,768$ ‐$ 86,758$ 1,915,768$

DEFERREDINFLOWS:

Unavail ablerevenue 551,122



 35,596 22,853 ‐ ‐ 121,990 22,462 754,023

Tota lliabilitiesanddeferredi nfl ows 1,265,685 101,319 906,8 09 ‐ 164,768 121,990 109,220 2,669,791

FUNDBALANCES:

Re stricte dfor:

Drugenforcementandequipment ‐ ‐ ‐ ‐ ‐ ‐ 13,050 13,050

Capitalprojec ts ‐ ‐ ‐ 11,298,014 ‐ ‐ ‐ 11,298,014

Urbanrenewaldebtservice ‐ ‐ ‐ ‐ ‐ 2,883,689 ‐ 2,883,689

Buildingservi ces 74,785 ‐ ‐ ‐ ‐ ‐



 ‐ 74,785

Libraryservices ‐ ‐ ‐ ‐ ‐ ‐ 70,771 70,771

Swimcenter ‐ ‐ ‐ ‐ ‐ ‐ 1,291,724 1,291,724

PEG 49,187 ‐ ‐ ‐ ‐ ‐ ‐ 49,187

Committed for:

Transportationservices ‐ ‐ 3,135,215 ‐ ‐ ‐ ‐ 3,135,215

Streetpr ojects ‐ 4,243,849 ‐ ‐ ‐ ‐ ‐ 4,243,849

Workers compretropl a n 121,863 ‐ ‐ ‐ ‐ ‐ ‐ 121,863

Pa rkma intena nce 192,509 ‐ ‐ ‐ ‐ ‐ ‐ 192,509

rismpromotionandenha ncement ‐ ‐ ‐ ‐ ‐ ‐ 40 ,041 40,041

Cemeteryca re ‐ ‐ ‐ ‐ ‐ ‐ 1,120,765 1,120,765

3,437,201 ‐ ‐ ‐ ‐ ‐ ‐ 3,437,201

Tota lfundbala nce 3,875,545 4,24 3,849 3,135,215 11,298,014 ‐ 2,883,689 2,536,351 27,972,663

Tota lliabilities,deferr edinflowsandfundbalance 5,141,230$ 4,345,168$ 4,042,0 24$ 11,298,014$ 164,768$ 3,005,679$ 2,645 ,571$ 30,642,454$

Unassigned:

ASSETS

ABILITIES,DEFERREDINFLOWSANDFUNDBALANCES

CITYOFCANBY,OREGON

GOVERNMENTALFUNDS

RECONCILIATIONOFTHEBALANCESHEETTOTHESTATEMENTOFNETPOSITION

June30,2021

Theaccompanyingnotesareanintegralpartofthebasicfinancialstatements.

17



TOTALFUNDBALANCE 27,972,663$

Capitalassetsarenotfinancial resourcesforbudgetary purposesand

thereforearenotreportedinthegovernmentalfunds.

Cost $ 215,725,638

Accumul ate ddepreciation (115,425,462) 100,300,176

AportionoftheCity'sreceivablesarecollectedafteryear‐endbuttheyare

notcollectedsoonenoughtobe availableasfinancialresourcesforthe

cur

rentyear.Therevenuesrelatedtothesereceivablesareunavai labl eand

notreportedinthegovernmentalfunds. 754,023

DeferredInflows‐Pension (354,721)

DeferredOutflow s‐Pension 4,198,409

DeferredInflows‐OPEB (124,271)

DeferredOutflow s‐OPEB 141,644

Compensated absencesnotpayableinthecurrentyearar enotrecordedas

governmentalfundliabil ities. (662,262)

Inte rnalservi ce fundsreportedasgovernmentalac t

ivities

(309,638)

Long‐termasse ts,arenotreportedasgovernmentalfundassetsand

liabilitiesnotpayableinthecurrentyeararenotreportedasgovernmental

fund liabil ities.Interestonlong‐termde btisnotaccruedinthe

governmentalfunds,butratherisrecognizedasanexpensewhenitisdue.

Theselo

ng‐te

rmassetsandliabilitiesconsistof:

Long‐termdebt (20,105,162)$

NetOPEBliability (502,232)

Netpensionliability (12,298,534)

Accrue dinterestpayable (64,710) (32,970,638)

TOTALNETPOSITION 98,945,384$

Totalnetposi tionshownintheStatementofNetPositi onisdifferentbe cause:

CITYOFCANBY,OREGON

GENERALFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheFiscalYearEndedJune30,2021

Theaccompanyingnotesareanintegralpartofthebasicfinancialstatements.

18



GeneralFundStreetFu ndTransitFund

System

Development

ChargeFund

Urban

Rene wal

GeneralFund

UrbanRenewal

DebtService

Fund

Other

Governmental

Funds 

Total

Governmental

REVENUES:

Propert ytaxes 5,518,863$ ‐$ ‐$ ‐$ ‐$ 4,215,618$ 863,271$ 10,597,752$

Intergovernmental 1,01 4,827 2,186,330 ‐ ‐ ‐ ‐ 1,01 2,388 4,2 13,545

Chargesforservices 1,238,550 723,772 300 ‐ ‐



 ‐ 70,868 2,033,490

Franchise 1,672,933 ‐ ‐ ‐ ‐ ‐ ‐ 1,6 72,933

Licenses,fees,permits 184,664 ‐ ‐ ‐ ‐ ‐ ‐ 1 84,664

Finesandforfeitures 493,684 ‐ ‐ ‐ ‐ ‐ 3,639 497,323

Specialassessments ‐ ‐ ‐ ‐ ‐ 18,644 ‐ 18,644

Grantsanddonations 72,075 ‐ 1,504,317 ‐ 2,000 ‐ 11,732 1,590,124

Interest 27,295 19,690 18,784 85,961 876 21,6 48 18,752 193,006

Miscellaneous 137,365 718,223 1,525 ‐ 52,283 67

398 553 977,347

Systemdevelopmentcharges ‐ ‐ ‐ 2,586,859 ‐ ‐ ‐ 2,586,859

Transientoccupancytax ‐ ‐ ‐ ‐ ‐ ‐ 21,000 21,000

Transittaxes ‐ ‐ 1,805,992 ‐ ‐ ‐ ‐ 1,805,992

Totalrevenues 10,360,256 3,648,015 3,330,918 2,672,820 55,159 4,323,3 08 2,002,203 26 ,392,679

EXPENDITURES:

Current:

Generalgovernment 3,021,394 ‐ ‐ ‐ 20,236 ‐ ‐ 3,041,630

Publicsafety 5,792,537 ‐ ‐ ‐ ‐ ‐ 541 5,793,078

Highwaysandstr

eets ‐

 1,082,854 ‐ ‐ ‐ ‐ ‐ 1,082,854

Transportation ‐ ‐ 2 ,029,451 ‐ ‐ ‐ ‐ 2,0 29,451

Cultureandrecreation 871,442 ‐ ‐ ‐ ‐ ‐ 1,496,617 2,368,059

Communitydevelopment 857,306 ‐ ‐ ‐ ‐ ‐ ‐ 857,306

Capitaloutlay 451,307 3 48,878 402,285 ‐ 4 67,448 ‐ 34,397 1 ,704,31 5

Debtservice:

Principal ‐ ‐ ‐ ‐ ‐ 1,984,387 ‐ 1,984,387

Interest ‐ ‐ ‐ ‐ ‐ 939,232 ‐ 939,232

Bondissuancecosts ‐



 ‐ ‐ ‐ ‐ 145,763 ‐ 145,763

Totalexpenditures 10,993,986 1,431,732 2,431,736 ‐ 487,684 3,069,3 82 1,531,555 19 ,946,075

Revenuesover(under)expenditures (633,730) 2,216,283 8 99,182 2,672,82 0 (432,525 ) 1,253,9 26 470,648 6,446,604

OTHERFINANCINGSOURCES(USES):

Proceedsfromsaleofbonds ‐ ‐ ‐ ‐ ‐ 18,435 ,000 ‐ 18,435,000

Bondpremiums ‐ ‐ ‐ ‐ ‐ 995,165 ‐ 995,165

Bondrefundingescrow ‐ ‐ ‐



 ‐ ‐ (19,284,402) ‐ (19,284,402)

Transfersin 1,385,558 47,777 ‐ ‐ 748,523 ‐ 1,14 2,687 3,3 24,545

Transfersout (200,714) (130,610) (182,728) (1,282,320) (315,998) (748,524) (1,262,131) (4 ,123,025)

Totalotherfinancingsources(uses) 1,184,844 (82,833) (182,728) (1,282,320) 432,525 (602,761) (119,444) (652,717)

Netchangesinfundbalances 551,114 2,133,450 716,454 1,390,500 ‐ 651,165 351,204 5,793,887

3,324,431 2,110,399 2 ,418,761 9,907,514 ‐ 2,232 ,524 2,185,147

 22

,178,776

FUND BALANCE,ENDING 3,875,545$ 4,243,849$ 3,135,215$ 11 ,298,014$ ‐$  2,883,6 89$ 2,536,351$ 27,972,663$

FUND BALANCE,BEGINNING

CITYOFCANBY,OREGON

GOVERNMENTALFUNDS

RECONCILIATIONOFTHESTATEMENTOFREVENUES,EXPENDITURES,ANDCHANGESINFUND

BALANCETOTHESTATEMENTOFACTIVITIES

FortheFiscalYearEndedJune30,2021

Theaccompanyingnotesareanintegralpartofthebasicfinancialstatements.

19



AmountsreportedforgovernmentalactivitiesintheStatementofActivitiesaredifferentbecause:

Netchangeinfundbalances‐totalgovernmentalfunds 5,793,887$

Thestatementofrevenues,expenditures,andchangesinfundbalancesreportcapital

outlaysasexpenditures.However,in theStatementofActivitiesthecostofthose

assetsisallocatedovertheirestimatedus

efullivesandreportedasdepreciation

Currentyeardepr eciation (3,684,670)$

Capitalacquisitions 2,027,046 (1,657,624)

Changeinunavailablerevenue,netofallowancefo rdoubtfulaccounts 26,387

Changeinaccruedinterestonlon g‐termliabilities 33,317

Theissuanceoflong‐termdebt(e.g.,bonds,leases)providescurrentfinancialresources

Debtserviceprincipalpayments 2,064,384

Changeinco

mpensateda

bsences 103,367 2,167,751

Internalservicefundreportedasgovernmentalactivities (141,238)

OPEBexpense 6,089

Pensionexpense (1,691,984)

Changeinnetpositionofgovernmentalac tivities 4,536,588$

CITYOFCANBY,OREGON

PROPRIETARYFUNDS

STATEMENTOFNETPOSITION

June30,2021

Theaccompanyingnotesareanintegralpartofthebasicfinancialstatements.

20



SewerCombine d

Fund

Internal

Serv iceFunds

ASSET S ANDDEFERREDOUTFLOWS

ASSETS:

CurrentAssets:

Cashandcashequivalents 7,729,112$ 216,732$

Accountsreceiv able,net 690,549 434

Totalcurrentassets 8,419,661 217,166

NoncurrentAssets:

Capitalassets,net 17,673,977 ‐

Totalassets 26,093,638 217,166

DEFERREDOUTFLOWSOFRESOURCES:

Deferredoutflowsrelatedtopensions 470,520 184,968

DeferredoutflowsrelatedtoOPEB 15,815 2,899

Totaldeferredoutflowsofre

sources 486,335 187,867

Totalassetsanddeferredoutflows 26,579,973$ 405,033$

LIABILITIES,DEFERREDINFLOWSANDNETPOSITION

LIABILITIES:

CurrentLiabilities:

Accountspayable 242,905$ 104,358$

Long‐termdebt‐withinoneyear 86,039 18,240

Totalcurrentliabilities 328,944 122,598

NoncurrentLiabilities:

Long‐termobligations‐non‐currentportion 28,680 6,079

Netpensionliability 1,381,850 541,837

NetOPEBliability 56,487 2 2,126

Totalnoncurrentl

abilities 1,467,017 570,042

Totalliabilities 1,795,961 692,640

DEFERREDINFLOWSOFRESOURCES:

Deferredinflowsrelated topensions 37,693 1 5,626

Deferredinflowsrelated toOPEB 13,837 6,405

Totaldeferredinflowsofresources 51,530 22,031

Totalliabilities anddeferredinflows 1,847,491 714,671

NETPOSITION:

Netinvestmentincapitalassets 17,673,977 ‐

Unrestricted 7,058,505 (309,638)

Totalnetposition 24,732,482 (3 09,638)

Totalliabilities,deferredinflowsan

dnetposition 26,579,973$ 405,033$

CITYOFCANBY,OREGON

PROPRIETARYFUNDS

STATEMENTOFREVENUES,EXPENSES,ANDCHANGESINFUNDNETPOSITION

FortheFiscalYearEndedJune30,2021

Theaccompanyingnotesareanintegralpartofthebasicfinancialstatements.

21



Sewer

CombinedFund

InternalServ ice

Funds

OPERATINGREVENUES:

Chargesforservices 4,460,413$ 1,225,032$

Miscellaneous 9,025 1,223

Totaloperatingrevenues 4,469,438 1,226,255

OPERATINGEXPENSES:

Personnelservices 1,435,087 547,686

Materialsandservices 952,738 821,867

Depreciationandamortization 442,946 ‐

Totaloperatingexpenses 2,830,771 1,369,553

Operatingincome(loss) 1,638,667 (143,298)

NON‐OPERATINGINCOME(EXPENSE):

Interestincome 59,584 2,060

TRANSFERSANDCAPITALCONTRIBUTIONS:

Transfersin 1,052,264 ‐

Transfersout (253,786)



 ‐

Changeinnetposition 2,496,729 (141,238)

FUNDNETPOSITION,BEGINNING 22,235,753 (168,400)

FUNDNETPOSITION,ENDING 24,732,482$ (309,638)$

CITYOFCANBY,OREGON

PROPRIETARYFUNDS

STATEMENTOFCASHFLOWS

FortheFiscalYearEndedJune30,2021

Theaccompanyingnotesareanintegralpartofthebasicfinancialstatements.

22

Sewer

Combin edFund

Internal

ServiceFunds

CASHFLOWSFROMOPERATIN GACTIVITIES:

Cashrecei vedfromoutsidecus tomers 4,410,238$ 4,947$

Cashrecei vedfrominternalcustomers ‐ 1,221,8 07

Cashpaidtoemployeesforsalariesandbenefits (1,223,065) (469,178)

Cashpaidtosupplier sandother s (1,009,261) (774,697)

Netcas hfromoper atinga ctiviti es 2,17 7,912 (17,1 21)

CASHFLOWSFROM

NON‐CAPITALFINANCINGAC

IVITIES:

Transfersin 1,052,264 ‐

Transferout (253,786) ‐

Netcas hfromnon‐ca pi ta l financinga cti vi ties 798,478 ‐

CASHFLOWSFROMCAPITALAND

RELATEDFINANCINGACTIVITIES:

Purc ha seofcapita la s s ets (3,079,189) ‐

CASHFLOWSFROMINVESTINGACTIVITIES:

Interestrecei ved 59,584 2,060

Netincrease(decr ease)inca shandca s hequivalents (43 ,21 5 ) (15,0 61)

CASHAN DCASHEQUIVALENTS,BEGINNING 7,772,327 231,793

CASHAN

DCAS

HEQUIVALENTS,ENDING 7,729,112$ 216,732$

RECONCI LIATIONOFOPERATINGINCOME(LOSS)TO

NETCASHPROVIDEDBYOPERATIN GACTIVITIES:

Opera tingincome(l os s ) 1,638,667$ (143,298)$

Adjustments:

Deprec i a ti on 442,946 ‐

Los sondisposalofassets ‐ ‐

Decrease(increase)in:

Accounts receivabl e (59,200) 499

Increase(decrease)in:

Accounts payableandaccruedexpens es (56,523) 47,170

OPEBobl i ga tion (229) 4,003

Accruedco

mpens atedabsences 19,637 893

Pens ionobl i gations 192,614 73,612

Netcas hfromoper atinga ctiviti es 2,17 7,912$ (17,121)$



23



NOTESTOTHEFINANCIALSTATEMENTS

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

24

1) SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES

A. DescriptionofReportingEntity

TheCityofCanby,Oregon,(theCity)islocatedinClackamasCounty21milessouthofPortland,Oregon,and35miles

northofSalem,Oregon.TheCitywasincorporated asamunicipalcorporationin1893andoperatesunderacouncil‐

administratorformofgovernment.

TheCityCouncilconsistsofamayorelectedforatwo‐yearterm,andsixmembers

eachelectedtofour‐yearterms.TheCityCouncilappointstheCityAdministrator,whoisresponsiblefortheday‐to‐

daymanagementoftheCity.

The accompanying financial statements present the City and its comp

onent units, entities for which  the City is

consideredfinanciallyresponsible.TheCityistheprimarygovernment.Aprimarygovernmentisafinancialreporting

entity,whichhasaseparatelyelectedgoverningbody,islegallyseparate,andisfiscallyindependentofotherstateand

localgovernments.Asrequiredbyaccou

ntingprinciples

generallyacceptedintheUnitedStatesofAmerica(GAAP),

these financial statements present the City and its component units.Blended component units, although legally

separateentitiesare,insubstance, partofthegovernment’soperationsandso data from theseunitsarecombined

withdata of theprimary government.Di

scretelypresented component units, onthe other

hand, are reported  in a

separatecolumninthecombinedfinancialstatementtoemphasizeitislegallyseparatefromtheCity.

BlendedComponentUnit

TheCityhasoneblendedcomponentunit,theUrbanRenewalAgency(theAgency).TheAgencywasformedtoplan,

direct, andmana

ge certainprojects within the City. Pursuant to ORS457.055, theCity Council has been appointed

governing body of the Agency, which is the same governing board as the primary government. In accordance with

GASB61theAgencymeetsthecriteriaofablendedcomponentunitbecausethegoverningbodyisthesame,thereis

a financial  benefit/burden relationship between the e

ntities in relation to debt burden, asset contributions, and

managementof

theprimarygovernmenthasoperationalresponsibilityforthecomponentunit.TheUrbanRenewal

District General Fund and Urban Renewal Debt Service Fund are reported as governmental fund types. Co

mplete

financialstatementsfortheUrban

RenewalAgencyfortheyearendedJune30,2021,maybeobtainedatCanbyCity

Hall,locatedat222NE2

Ave.,Canby,Oregon97013.

DiscretelyPresentedComponentUnit

TheCanbyUtilityBoard(CUB)isresponsibleforprovidingwaterandelectricityservicestoresidentialandcommercial

customerswithinthecitylimitsofCanby.CUBisa legallyseparateentityfromtheCity,whichiscurrentlygovernedby

aboard appointedbythemembersof

theCityCouncil.Afinancialbenefitexists.Completefinancialstatementsfor

CUBfortheyearendedJune30,2021maybeobtainedatCUB’sadministrativeofficelocatedat1265SE3

Avenue,

Canby,Oregon97013.

B. BasicFinancialStatements

Basic financial statements are presented at both the government‐wide and fund financial level.Both levels of

statementscategorizeprimaryactivitiesaseithergovernmentalorbusiness‐type.Governmentalactivities,whichare

normallysupportedbytaxesandintergovernmentalrevenues,arereportedseparatelyfrombusiness‐typeactivities,

which rely significantly on fees and charges for support.

Separate fund financial statements are provided  for

governmentalfundsandproprietaryfunds.



CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

25

1) SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)

B. BasicFinancialStatements(Continued)

Government‐widefinancialstatements

Government‐widefinancialstatementsdisplayinformationabouttheCityasawhole.Thesestatementsfocusonthe

sustainabilityoftheCityasanentityandthechange inaggregatefinancialpositionresultingfromtheactivitiesofthe

fiscalperiod.TheseaggregatedstatementsconsistoftheStatementofNetPositionandtheStatementof

Activities.

Eliminationshavebeenmadetominimizethedouble‐countingofinternalactivities.

TheStatementofActivitiespresentsacomparisonbetweendirectexpensesandprogramrevenuesforeachfunction

oftheCity’sactivities.Directexpensesarethosethatarespecificallyassociatedandthereforeclearlyidentifiablewith

a program or function.

Indirectexpense allocationsthat have beenmade inthe fundshave beeneliminated in the

StatementofActivities.Programrevenuesinclude(a)fees,fines,andchargespaidbytherecipientsofgoodsorservices

offered by th

e programs, and (b) grants and contributions that are restricted to meeting the operational or capital

requirements of a particular program.Taxes and other items not properly included among program revenues are

reportedinsteadasgeneralrevenues.

Fundfinancialstatements

Thesestatementsdisplayinformationattheindividualfundlevel.Eac

hfundisconsi

deredtobeaseparateaccounting

entity.Fundsareclassifiedandsummarizedasgovernmentalorproprietary.Majorindividualfundsarereportedas

separatecolumnsinthefundfinancialstatements.Non‐majorfundsareconsolidatedintoasinglecolumnwithineach

fundtypeinthefinancialsectionoftheba

sicfinancialstatementsan

daredetailedinthesupplementaryinformation.

The financial transactions of the City are recorded in individual funds.Each fund is accounted for by providing a

separate set of self‐balancing accounts that comprises its assets, liabilities, reserves, fund equity, revenues and

expenditures/expenses.Thevariousfundsarereportedbygenericclassificationwithinthefinancia

lstatements.

TheCityreportsthefollowingmajorgovernmentalfunds:

 GeneralFund‐ThisistheCity’sprimaryoperatingfund.ItaccountsforthefinancialresourcesoftheCitythat

arenotaccountedforinanyotherfund.Principalsourcesofrevenuearepropertytaxes,intergovernmental

proceeds from the State of Oregon and Clackamas County, licenses and permits, and fines.Primary

expendituresareforgeneraladministrati

on,publicsafety,andcultu

reandrecreation.

 StreetFund‐ThisfundaccountsforrevenuesfromgastaxapportionmentsreceivedfromtheStateofOregon

andthelocalstreetmaintenancefeeandexpendituresformaintenanceofpublicstreets.

 TransitFund‐Thisfundaccountsforpayrolltaxescollectedfromthelocalbusinesscommunityaswellasgrants

receivedandusedtofundtheCity’smasstransitprogram.

 UrbanRenewal–GeneralFund‐Thisfund is usedtoaccount fortheoperationsandconstructionofcapital

projects.ThemainsourceoffundingisatransferfromtheURADebtServiceFund.

 System Development Charge Fund‐This fund accounts for the collection and use of system development

chargesforcapitalprojectfunding.

 UrbanRenewal‐DebtServiceFund‐Thisfundisusedtoaccountforthepaymentofprincipalandintereston

bondsandloansissuedtofundprojectsasplannedandexecutedthroughtheUrbanRenewalAgency–General

Fund.Theprimarysourceoffundsispropertytaxincrementrevenue.

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

26

1) SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)

B. BasicFinancialStatements(Continued)

AdditionallytheCityreportsnon‐majorfundswithinthegovernmentalfundtype.

 Special RevenueFunds‐These funds are used to account for proceeds of specific revenuesources that  are

earmarkedforspecific purposes includingcemeteryoperations, transient roomtax,swim center operations

andlibraryoperations.Principalresourcesincludeprop

ertytaxes,intergovernmentalrevenues,roomtaxes,

andchargesforservices.

TheCityreportsthefollowingmajorenterprisefund:

 Sewer Combined Fund‐The fund accounts for business type activities of the City that receive a significant

portionoffundingthroughuserchargeswiththeintenttofullyrecoverthecostofservice.Thefundaccounts

for the day‐to‐day operation of the City’s sanitary se

er collection and treatment processes as well as

stormwateroperations.

TheCityreportsthefollowinginternalservicefunds:

 FacilitiesFund‐ThefacilitiesfundaccountsforutilitiesandmaintenanceforallCityoperatinglocationswith

the intent of then recovering the cost by charging all operating units based on their applicable portion,

attributedbasedonapercentageofsquarefootage.

 FleetServicesFund‐Thefacilitiesfundaccountsforoperationandmaintenanceofthevehiclefleetand

other

equipmentwiththeintentofthenrecoveringthecostbychargingfortheservicesprovided.

 TechnicalServicesFund‐Thetechnicalservicesfund accounts foroperationandmaintenanceofcomputers

andthephonesystemwiththeintentofrecoveringthecostbychargingoperatingunitsbasedonthenumber

ofcomputersinuse.

C. MeasurementFocusand

BasisofAccounting

Measurementfocusisatermusedtodescribewhichtransactionsarerecordedwithinthevariousfinancialstatements.

Basisofaccountingreferstowhentransactionsarerecorded.

The government‐wide financial statements and the pr

oprietary funds financial statements are presented using

 the

economicresourcesmeasurementfocusandtheaccrualbasisofaccounting.Aneconomicresourcefocusconcentrates

onanentityorfund’snetposition.Alltransactionsandeventsthataffectthetotaleconomicresources(netposition)

duringtheperiodarereported.Aneconomicresourcesmeasurementfocusisinextricablyconnectedwithfullaccrual

accounting.U

nderthefull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.

Governmentalfundfinancialstatementsarereportedusingthecurrentfinancialresourcesmeasurementfocusandthe

modified accr

ual basis of a

ccounting.This measurement focus concentrates on the fund’s resources available for

spendingcurrentlyorinthenearfuture.Onlytransactionsandeventsaffectingthefund’scurrentfinancialresources

duringtheperiodarereported.Similartotheconnectionbetweenaneconomicresourcemeasurementfocusandfull

accrualaccou

nting,acurre

ntfinancialresourcemeasurementfocusisinseparablefromthemodifiedaccrualbasisof

accounting.Under modified  accrual accounting, revenues are recognizedas soon asthey are both measurable and

available.

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

27

1) SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)

C. MeasurementFocusandBasisofAccounting(Continued)

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Cityconsidersrevenuestobeavailableiftheyarecollected

within60day

softheendofthecurrentfiscalperiod.Expendituresgenerallyarerecordedwhenaliabilityisincurred,

asunderaccrualaccounting.However,long‐termcompensatedabsencesarerecordedonlywhenpaymentisdue.

Propertytaxes,franchisetaxes,licenses,andinterestassociatedwiththecurrentfiscalperiodareallconsideredtobe

susceptibletoaccrualandsohavebeenre

cognized

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.Allotherrevenueitemsareconsideredtobemeasurableandav

ailable

onlywhencashisreceivedby

theCity.

In accordance with GASB 65 unavailable revenue which occurs on the modified accrual basis of accounting when

revenuedoesnotmeet boththemeasurableandavailablecriteria forrecognitioninthecurrent periodisnolonge

r

classif

iedas aliability butinstead asa deferredinflow.Unavailable revenue consistsof uncollectedproperty taxes,

assessments, court fines and estimated transit tax revenue not received in time to be considered available to fund

currentoperations.Inthegovernment‐wideStatementofActivities,withafullaccrualbasisofaccounting,r

venue

must be recognized as soon as it is earned regardless of its availability.Thus, the deferred inflow reported on the

GovernmentalFundBalanceSheetforunavailablerevenueiseliminatedandrevenueisrecognizednetofallowance

fordoubtfulaccounts.

Similar to the way revenues are recorded, governmental funds only record those expenditures that affect current

financialresources.Princip

alandinterestongenerallong‐termdebtarerecordedasfundliabilitiesonlywhendue,or

whenamountshavebeenaccumulatedinthedebtservicefundforpaymentstobemadeearlyinthefollowingyear.

Inthegovernment‐widefinancialstatements,however,withafullaccrualbasisofaccounting,allexpendituresaffectin

g

theeconomicresourcestatusof

thegovernmentmustberecognized.Thus,theexpenseandrelatedaccruedliability

forlong‐termportionsofdebtandcompensatedabsencesmustbeincluded.

Sincethegovernmentalfundstatementsarepresentedonadifferentmeasurementfocusandbasi

sofaccountingthan

the government‐wide statements’ governmental column, a reconciliation  is necessary to explain the adjustments

needed to transform the fund based financial statements into the governmental column of the government‐wide

presentation.Thisreconciliationispartofthefinancialstatements.

Proprietary funds distinguish operating revenues and

 expenses from non‐operating items. Operating revenues and

expensesgenerallyresultfromprovidingservices,andproducinganddeliveringgoodsinconnect ionwithaproprietary

fund’s principal ongoing operations. The principal operating revenues of the City’s sewer operations are chargesto

customers for sales and services. These funds also recognize fees in

tended to rec

over the cost of connecting new

customerstotheCity’sutilitysystemsasoperatingrevenue.Operatingexpensesforproprietaryfundsincludethecost

of sales and services, administrative expenses and overheads, and depreciation on capital assets. All revenues and

expensesnotmeetingthisdefinitionarereportedasnon‐operatingre

venuesand

expenses.

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

28

1) SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)

D. Assets,Liabilities,DeferredOutflows/InflowsandNetPosition/FundBalance

CashandCashEquivalents

Thecashandcashequivalentsreportedonthebalancesheetincludecashonhand,depositswithfinancialinstitutions,

andtheinvestmentintheLocalGovernmentInvestmentPool(LGIP).Investmentsarereportedatfairvalue.

Restrict

edAssets

The only asset thatis reported as restricted isCUB restricted cashwhich is restrictedfor deposits and debt service.

Restrictionsforconstruction,debtservice,byotheragreementorforspecificpurposesbystatestatuteareproperly

classifiedwithinfundbalanceontheGovernmentalFundBalanceSheet,Government‐wideStatementofNetPosition

and

theProprietaryFundStatementofNetPosition.

ReceivablesandPayables

Servicesprovided,deemedtobeatmarketornearmarketrates,aretreatedasrevenuesandexpenditures/expenses.

Reimbursementsarewhenonefundincursacost,chargestheappropriatebenefitingfundandreducesitsrelatedcost

asareimbursement.Allotherinterfundtransactionsaretreatedastransfers.

Recordedpropertytaxesreceivablethatare collected  within60day

safteryear‐endareconsidered measurableand

availableand,therefore,arerecognizedasrevenue.Theremainingbalanceisrecordedasunavailablerevenuebecause

it is not deemed available to finance operations

 of the current period.An allowance for doubtful accounts is not

deemednecessarybymanagement,asuncollectibletaxesbecomealienontheproperty.Propertytaxesarelevied

andbecomea lienonJuly1. CollectiondatesareNovember15,February15,andMay15.Discountsareallowedifthe

amount due is received by November 15 or February15.Taxes un

paid and

 outstandingon May 15 areconsidered

delinquent.

Assessmentliensarerecognizedatthetimepropertyownersareassessedforpropertyimprovements,andunderfull

accrualaccounting,thoseassessmentsarerecognizedinthegovernment‐widefinancialstatementsasrevenuewhen

assess

ed.Assessment liens receivable are offset by unavailable revenue in the fund financial statements and,

accordingly,havenotbeenrecognizedasrevenueinthosestatements.

Receivables of the enterprise fundsare recognized as revenue when earned, includingservice provided but not yet

billed.Receivables in government‐wide statements and enterprise funds are stated net of any allowance for

uncollectibleamounts.

CapitalAssetsandDepreciation

Capital

 assets, which include property, plant, equipment, and infrastructure assets (e.g. roads, quarries etc.), are

reported in the applicable governmental or business‐type activities columns in the government‐wide financial

statements.Capital costs are charged to expenditures as purchased in the governmental fund statements, an

d

capitalizedin the proprietar

yfundstatements.Capital assets arerecordedat historicalcost,or estimated historical

costifactualcostisnotavailable.Donatedcapitalassets,worksofart,andsimilaritemsreceivedinaserviceconcession

arrangementarerecordedatfairmar

etvalue.

CapitalassetsaredefinedbytheCityasassetswithaninitial,individualcostof$5,000ormore,andhavingusefullives

extendingbeyondtworeportingperiods.Additionsorim provementsandothercapitaloutlaysthatsignificantlyextend

theusefullifeofanasset,orthatsignificantlyincreasethecapacityof

anassetarecapitalized.Othercostsincurredfor

repairsandmaintenanceareexpensedasincurred.

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

29

1) SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)

D. Assets,Liabilities,DeferredOutflows/InflowsandNetPosition/FundBalance(Continued)

DepreciationonexhaustibleassetsisrecordedasanallocatedexpenseintheStatementofActivitieswithaccumulated

depreciationreflectedintheStatementofNetPosition,andisprovidedonthestraight‐linebasisandistakeninthe

yeartheassetsareacquiredorretired.

Buildingsandimprovementsaredepreciatedover5‐50years;infrastructureandutilityplantsaredepreciatedover

10‐

50years;andvehiclesandequipmentaredepreciatedover5‐20years.

CompensatedAbsences

Accumulated vacation pay is accrued as it is earned.Compensated absences are only reported in the entity‐wide

governmentalfinancialstatements.Basedonhistoricaltrends,75%ofcompensatedabsencesarereportedascurrent

orexpectedtobepaidoutwithinthenextreportingyear.Noliabilityisrecordedfornon‐vestedaccumulatedrightsto

receive sick pay benefits.However, upon retirement under th

e City’s retir

ement plan, an employee shall be

compensatedfor50%ofhis/heraccumulatedbutunusedsickleave;thenumberofhoursofsickleavecompensated

shallnotexceed500.Aliabilityisrecognizedfortheportionofaccumulatedsickleavebenefitsthatiseligibletobe

paidoutunde

thatpolicyasofyear‐end.

OtherPostemploymentBenefitObligations(OPEB)

TheCityreportsitsproportionateshareoftheNetOPEBLiabilityoftheOregonPublicEmployeesRetirementSystem

(OPERS).AnegativeNetOPEBLiabilityisreportedasaNetOPEBAsset.ForpurposesofmeasuringthenetOPEBliability

or asset, deferred outflows of

 resources and deferred inflows of resources related to OPEB, and OPEB expense,

informationaboutthefiduciarynet positionofOPERSandadditionsto/deductionsfromOPERS’sfiduciarynetposition

havebeendetermined onthesame basisastheyare reportedbyOPERS.For thispurpose,benefitsare recognized

whendueandpayableinac

cordancewithbenefitterms

.Investmentsarereportedatfairvalue.

NetPensionLiability

TheCityreportsitsproportionateshareoftheNetPensionLiabilityoftheOregonPublicEmployeesRetirementSystem

(OPERS).AnegativeNetPensionLiabilityisreported asaNetPensionAsset.Forpur

posesofmeasuringthenetpension

liabilityor asset,deferred

outflows of resourcesand deferredinflows ofresources relatedtopensions, andpension

expense,informationaboutthefiduciarynetpositionofOPERSandadditionsto/deductionsfromOPERS’sfiduciarynet

positionhavebeendeterminedonthesamebasisasth

eyarereporte

dbyOPERS.Forthispurpose,benefitpayments

(includingrefundsofemployeecontributions)arerecognizedwhendueandpayableinaccordancewithbenefitterms.

Investmentsarereportedatfairvalue.

Long‐TermDebt

In the government‐wide financial  statements, and proprietary fund financial statements, long‐term debt and other

long‐term obligations are reported as liabilities in the applicable governmentalactivities, business

‐type activities, or

proprietary fund type Statement of Net Position.Bond premiums and discounts are amortized over the life of the

bonds.Bondspayablearereportednetoftheapplicablebondpremiumordiscount.

Inthefundfinancialstatements,governmentalfundtypesrecognizebondpremiumsanddiscounts, aswellasbond

issuance

costsasperiodcosts.Thefaceamountofdebtissuedisreportedasotherfinancialsourceswhilediscounts

orpremiumsondebtproceedsreceivedarereportedasotherfinancingsourcesoruses,respectively.Issuancecosts,

whetherorno

twithheldfromtheactualdeb

tproceedsreceived,arereportedasmaterialsandservicesexpenditures.

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

30

1) SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)

D. Assets,Liabilities,DeferredOutflows/InflowsandNetPosition/FundBalance(Continued)

DeferredOutflowsand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 position that apply to a future period and so will not be recognized as an outflow of resources

(expense/expenditure)untilthen.

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

positionthatapplytoafutureperiodandsowillnotberecognizedasaninflowofresources(revenue)untilthen.

NetPosition

In the government‐wide financial statementsand proprietaryfunds financial statements,net position isreported in

threecategories:netinvestmentincapitalassets,restrictednetpositi

on,and

unrestrictednetposition.Netinvestment

incapitalassetsrepresentscapitalassetslessaccumulateddepreciationlessoutstandingprincipalofrelateddebt.Net

investmentincapitalassetsdoesnotincludetheunspentproceedsofcapitaldebt.Restrictednetpositionrepresents

netpositionrestrictedbypa

tiesoutsideoftheCity(suchascreditors,grantors,contributors,laws,andregulationsof

othergovernments).Allothernetpositionamountsareconsideredunrestricted.

FundBalance

In the fund financial statements, fund balance for governmental funds is reported in classifications that comprise a

hierarchybased primarily on the extent towhich the Cityis bound tohonor constraints onthe specific purpose fo

r

whichamountsinthefundscanbespent.InaccordancewithGAAP,allowablefundbalanceclassificationsinclude:

 Non‐Spendable–Includesitemsnotimmediatelyconvertedtocash,suchasprepaiditemsandinventory.

 Restricted–In

cludesitemsthatarerestric

tedbyexternalcreditors,suchaspropertyheldforsale,grantorsor

contributors,orrestrictedbylegalorconstitutionalprovisions.

 Committed–IncludesitemscommittedbytheCityCouncil,byformalcouncilactionthroughtheadoptionof

anordinance.Commitmentsoffundbalancemustbemadepriortotheendofthefiscalyear.

 Assigned–Incl

udesitemsassignedforspecificuses,authorizedbytheCity.Assignmentsoffundbalancecan

bedoneatanytime,includingafterthefiscalyearenddate.InaccordancewiththeCity’sfundbalancepolicy,

amountsmaybeassignedbytheCityAdministrator.

 Unassigned–This

istheresidualclassificationusedforthosebalancesnotassignedtoanothercategory inthe

GeneralFund.

UseofRestrictedResources

Whenbothrestrictedandunrestrictedresourcesareavailableforuse,itistheCity’spolicytouserestrictedresources

first, then unrestricted resources, as they are needed. When unrestricted resources (committed, assigned, and

unassigned) are available for use, it is the City’s policy to use committed resources first, then assigned, and then

unassignedastheyareneeded.

UseofEstimates

The preparation of financial statements in conformity with GAAP requires that management ma

e estimates and

assumptionswhichaffectthereportedamountsofassetsandliabilities,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.

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

31

2) CASHANDCASHEQUIVALENTS

Cash and cash equivalents are considered to be cash on hand, demand deposits, and short‐term investments with

originalmaturitiesofthreemonthsorlessfromthedateofacquisition.InvestmentsconsistoffundsheldintheOregon

StateTreasurer’s Local GovernmentInvestment Pool (LGIP).The individual funds’ portion ofthe LGIP’sfair value is

presentedascashandcashequivalentsinthebasicfinancialstatements.

TheLGIPisadministeredbytheOregonStateTreasury.

TheLGIPisanopen‐endedno‐loaddiversifiedportfoliooffered

toanyagency,politicalsubdivisionorpubliccorporationoftheStatewhobylawismad

ethecustodianof,orhascontrol

of, any public funds.The LGIP is commingled with the States short‐term funds.In seeking to best serve local

governmentsofOregon,theOregonLegislatureestablishedtheOregonShortTermFundBoard.Thepurposeofthe

Boardistoad

visetheOregonStateTreas

uryinthemanagementandinvestmentoftheLGIP.

TheCity’sinvestmentpolicy,adoptedbytheCityCouncil,mirrorstherequirementsofOregonRevisedStatutes.



A. CustodialCreditRisk

Thisistheriskthatintheeventofabank failure,theCity’sdepositsmaynotberetu

rned.

EffectiveJuly1,2008,the

State of Oregon formed the Oregon Public Funds Collateralization Program under ORS 295. The collateralization

programcreatesastatewidepoolofqualifiedbankdepositoriesforlocalgovernments,providingcollateralizationfor

bank balances that exceed the limits of federal depository insurance, and eliminating the ne

ed for certificates of



participation.AsofJune30,2021,theCityhadtotalbankbalancesof$1,056,981,ofwhich$250,000wascoveredby

FDICandtheremainderwascollateralizedbythestatewidepool.

B. InterestRaterisk

The City does not have a formal investment policy that limits investments maturities as a means of managing its

exposuretofairvaluelossesarisingfromincreasinginterestrates.

C. CreditRisk

Statestatutesauthorize

theCitytoinvestingeneralobligationsoftheU.S.Governmentanditsagencies,certainbonded

obligationsofOregonmunicipalities,bankrepurchaseagreements,bankers’acceptances,andtheLGIP,amongoth

ers.

TheCityhasnoinvestmentpolicythatwouldfurtherlimititsinvestmentchoices.TheLGIPoperatesinaccordancewith

appropriate state laws andregulations, but is notregulated by other laws,organizations or regulations. There isno

material difference between the fair value and carrying value of the City’s position in the LGIP.Investm

nts are

CUB

Cashonhand $ 1,194 800$

Cashondeposit 985,424 (120,381)

Restrictedcash‐ 709,292

Oregon StateLocalGovernmentInvestmentPool 34,755,832 14,321,167

Total $ 35,742,450 14,910,878$

Reportedinthebasicfinancialstatementsas:

Government alactivities $ 28,013,338

Business‐typeactivities 7,729,112

Total $ 35,742,450

ComponentUnit

Cashandcashequ ivalents 14,201,586$

Restrictedcash 709,292

Total 14,910,878$

City

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

32

regulated by the Oregon Short‐Term Fund Board and approved by the Oregon Investment Council (ORS294.805 to

294.895).ThePoolisnotregisteredwiththeSECasaninvestmentcompany,noristhePoolrated.

3) RECEIVABLES

AnallowancefordoubtfulaccountsisnotdeemednecessaryfortheCity’spropertytaxesreceivablebecausealienis

placedontheproperty.Anallowancefordo

ubtfulaccountsfortheCity’ssewerandstreetmaintenancefeesreceivable

isnotconsiderednecessaryastheCityhaslien’sonpropertywhicharetobesettledthroughtheclosingprocessofa

sales transaction and the City is able to certify delinquent sewer charges to the properties’ property ta

x bill in

accordance wi

th ORS 454.225.The Cityhas estimatedallowances for doubtful accounts for both estimated unfiled

transittaxreturnsandcourtfinesreceivablesbasedonhistoricalcollectionratesforsimilaraccountsplacedwith3rd

partycollectionagencies.Theamountsc

nsidereduncollectableare$81,023and$2,923,187respectively.

CanbyUtilityBoard’saccountsreceivableprimarilyrepresentuserchargeswhicharerecognizedasearned.AsofJune

30,2021,anallowanceforuncollectiblereceivableshasbeenprovidedfortheelectricandwatersystemsof$1,398.

Governmentalfundsreportunavailablerevenueinconnectionwithreceivablesforrevenuesthatarenotconsi

dered

to be available to liquidate liabilities of the current period.Governmental funds also defer revenue recognition in

connectionwithresourcesthathavebeenreceived,butnotyetearned.Attheendofthecurrentfiscalyear,thevarious

componentsofunavailablerevenueandunearnedrev

nueincludeddelinquentpropertytaxesreceivable,estimated

unfiledtransittax,courtfines,financedsystemdevelopmentchargesandspecialassessmentsnotyetdue.

4) CAPITALASSETS

CapitalassetactivityfortheyearendedJune30,2021,wasasfollows:



GovernmentalActivities:

Beginning

Balance Add itions

Deletions&

Transfers

Ending

Balance

Capitalassets,notbeingdepreciated:

Land 13,279,710$ ‐$ ‐$ 13,279,710$

Intangibles 36,724,734 ‐ ‐ 36,724,734

Constructi oninprogress 1,763,778 1,064,091 (1,480,340) 1,347,529

Totalcapitalassets,notbeingdepreciated 51 ,768,222 1,064,091 (1,480,340) 51,351,973

Capitalassets,bei ngdepreciated:

Infrastructure 131,767,639 ‐ 852,719 132,620,358

Buildingsandimprovements 24,734,436 13 ,508 627,621 25 ,375,565

Machine ryande

quipment 1,

001,633 62,438 ‐ 1,064,071

Vehicles 4,577,709 887,009 (151,047) 5,313,671

Totalcapitalassets,bei ngdepreciated 16 2,081,417 962,955 1,329,293 164,373,665

Lessaccumulateddepreciationfor:

Infrastructure (101,942,371) (2,727,723) ‐ (104,670,094)

Buildingsandimprovements (6,035,534) (567,648) ‐ ( 6,603,182)

Machine ryandequipment (694,583) (50,602) ‐ (745,185)

Vehicles (3,219,351) (338,697) 151,047 ( 3,407,001)

Totalaccumulateddepreciation (111,891,839) (3,684,670) 151,047 (115,425,462)

Totalcapitalassets,bei ngdepreciated,ne

t 5

0,189,578 (2,721,715) 1,480,340 48,948,203

Governmentalactivitiescapitalassets,net

101,957,800$ (1,657,624)$ ‐$ 100,300,176$

Depreciationexpe nse waschargedtofuncti ons/programsof governmentalacti vitiesasfollows:

Generalgovernment 195,445$

Publi csafety 270,047

Highwaysandstree ts 2,906,000

Transportation 179,543

Cul ture andrecreation 133,635

Totaldepreciationexpense‐governmentalactivities 3,684,670$

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

33

4) CAPITALASSETS(Continued)



Discretelypresentedcomponentunit

ActivityfortheCanbyUtilityBoard(CUB)fortheyearendedJune30,2021,wasasfollows:



Business ‐typeActivities:

Beginning

Balance Addi ti ons

Deletions&

Transfers

Ending

Balance

Capitalassets,notbeingdepreciated:

Land 1,155,911$ ‐$ ‐$ 1,155,911$

Intangibles 5,500 ‐ ‐ 5,500

Constructi oninprogress 648,720 3,049,725 (1,898,219) 1,800,226

Totalcapitalassets,notbeingdepreciated 1,810,131 3,049,725 (1,898,219) 2,961,637

Capitalassets,beingdepreciated:

Infrastructure 4,772,679 12,579 1,898,219 6,683,477

Buildingsandimprovements 13,113,008 6,862 ‐ 13,119,870

Machineryan

de

quipment 1,119,131 10,023 ‐ 1,129,154

Vehicles 791,416 ‐ ‐ 791,416

Totalcapitalassets,bei ngdepreciated 19,796,234 29,464 1,898,219 21,723,917

Lessaccumulateddepreciationfor:

Infrastructure (1,102,150) (110,934) ‐ (1,213,084)

Buildingsandimprovements (3,969,206) (257,254) ‐ (4,226,460)

Machineryandequipment (981,542) (25,517) ‐ (1,007,059)

Vehicles (515,733) (49,241) ‐ (564,974)

Totalacc umulateddepreciation (6,568,631) (442,946) ‐ (7,011,577)

Totalcapitalassets,bei ngdepreciated,net 13,

227,603

 (413,482) 1,898,219 14,712,340

Business‐typeactivitiescapitalassets,ne t

15,037,734$ 2,636,243$ ‐$ 17,673,977$

Beginning Ending

CUB: Balance Additions Deletions Balance

Capitalassets,notbei ngdepreciated:

Land 1,299,579$ 2,035,711.00$ (285,711)$ 3,049,579$

Propertyheldforfutureuse 3,633 ‐ ‐ 3,633

Constructi oninprogress 956,281 7,635,952 (2,799,234) 5,792,999

Totalcapitalassets,notbeingdepreciated 2,259,493 9,671,663 (3,084,945) 8,846,211

Capitalassets,beingdepreciated:

Plant 67,136,375 1,813,135 (670,636) 68,278,874

Equipment 3,632,085 136,764 (87,913) 3,680,936

Officefurni tureandequipment 1,187,864 47,491 (

77,

150) 1,158,205

Totalcapitalassets,bei ngdepreciated 71,956,324 1,997,390 (835,699) 73,118,015

Lessaccumulateddepreciationfor:

Electricandwaterpl antassets (26,285,638) (1,473,618) 192,038 (27,567,218)

Totalcapitalassets,bei ngdepreciated,net 45,670,68

 523,772 (643,661) 45,550,797

CUBcapitalassets,net

47,930,179$ 10,195,435$ (3,728,606)$ 54,397,008$

Depreciationexpe nseforCUBActivitiesischargedtofunctionsasfol l ows:

Electricsystem 711,936$

Watersystem 761,682

$1,473,618Totaldepreciationex pense–CUBActivities

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

34

5) INTERFUNDRECEIVABLES,PAYABLES,ANDTRANSFERS

Interfundtransfersareusedtopayadministrativeservices,contributetowardthecostofcapitalprojects,andprovide

operationalresources.ThecompositionofinterfundtransfersfortheyearendedJune30,2021,wasasfollows:



6) LONG‐TERMLIABILITIES

A. DebtOutstanding

Thefollowingtablespresentcurrentyearcha

ngesinlong‐termliabilities,andthecurrentportionsdueforeachcategory

oflong‐termliability,presentedseparatelywithrespecttogovernmentalandbusiness‐typeactivities.Governmental

compensatedabsencesincludetheGeneralFund,Streets,Transit,andotherGovernmentalfunds.

Long‐termliabilityactivityfortheyearendedJune30,2021

,wasasfollows:



TransfersIn TransfersOut

GovernmentalFunds

GeneralFund 1,385,558$ 200,714$

Stre etFund 47,777 130,610

TransitFund ‐ 182,728

SDCFund ‐ 1,282,320

UrbanRenewalGeneralFund 748,523 315,998

UrbanRenewalDebtSe rvice Fund ‐ 748,524

Non‐maj orGovernmentalFunds 1,142,687 1,262,129

TotalGovernmentalFunds 3,324,545 4,123,023

Propri e taryFunds

SewerCombinedFund 1,052,264 253,786

TotalAl l Funds 4,376,809$ 4,376,809$

Original

Amount

6/30/2020

BalanceAdditionsReductions

6/30/2021

Balance

DueWithin

OneYear

GovermentalActivities

BondsURA:

20101stAveRede velopment(3.75‐7%) 2,500,000$ 1,560,000$ ‐$ 1,560,000$ ‐$ ‐$

2010BondDiscount (24,300) ‐ (24,300) ‐ ‐

2011PoliceFacility(2‐5%) 9,000,000 8,580,000 ‐ 8,580,000 ‐ ‐

2011BondDiscount (15,200) ‐ (15,200) ‐ ‐

2012Civi cBldg&Se

quoiaPkwy(3‐4%) 14,050,000 10,225,000 ‐ 9,550,000 675,000 675,000

2012Premium 736,077 ‐ 736,077 ‐ ‐

TotalBondsURA: 21,061,577 ‐ 20,386,577 675,000 67 5,000

BondsCity:

2021FullFaithandCreditObligations 18,435,000‐ 18,435,000 ‐ 18,435,000 3,310,000

2021Premium 995,165 ‐ 995,165 ‐ 995,165 19 9,033

TotalBondsCi ty : ‐ 1 9,430,165 ‐ 19,430,165 3,509,033

Long‐termLoansURA:

2009Township,Be

rg,SequoiaSt. (3‐5.25%) 1,981,047 1,099,387 ‐ 1,099,387 ‐ ‐

2009Premium 8,584 ‐ 8,584 ‐ ‐

TotalGovernmentalLoans 1,107,971 ‐ 1,107,971 ‐ ‐

CompensatedAbsences 766,994 500 ,689 581,102 686,581 51 4,936

TotalGovernmentalActivities 22,936,542$ 19,930,854$ 22,075,650$ 20,791,746$ 4,698,969$

Business‐TypeActivities

CompensatedAbsences 95,082$ 90,949$ 71,312$ 114,719$ 86,039$

CUB‐Discretelypresentedcomponentunit‐

Re

venueBonds

2014WaterRevRefundBonds(2.3%) 1,951,000$ 988,000$ ‐$ 185,000$ 803,000$ 208,000$

2017WaterRevRefundBonds(2.09%) 1,988,000 1,625,000 ‐ 202,000 1,423,000 191,000

TotalCUBBonds 2,613,000$ ‐$ 387,000$ 2,226,000$ 399,000$

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

35

6) LONG‐TERMLIABILITIES(continued)

B. DebtServiceRequirements

The City issues full faith  and credit obligation bonds and loans/notes to provide funds for the acquisition and

construction of major capital infrastructure and equipment. Full faith and credit obligation bonds and loans/notes

outstandingatJune30,2021,aswellasCUBrevenuebondsoutstandingareasfollows:



TheCity’soutstandingbondsaremanagedbyBankofNewYorkMellonandarenotdirectplacementbonds.Thereis

nopledgedcollateralasallthreebondsareFullFaithandCreditIssuances.Intheeventofdefaultandamajorityvote

of the owners, the agent has authority to takewhatever action necessary to enforce

 the financing agreement. The

agentdoesnothavetherighttodeclaretheunpaidprincipalimmediatelydue.

DuringthefiscalyearendedJune30,2021,theCityissuedFullFaithandCreditRefundingObligations,Series2021to

providefundsforadvancerefundingofSeries20101stAveRedevelopment,Series2

011PoliceFacility,andSeries2012

CivicBldg&SequoiaPkwybonds. The$18,435,000issueclosedonJune15,2021ataninterestraterangingbetween

0.20%and4.00%maturingin2026.Netpresentvalueofthesavings,duetothelowerinterestrateontherefunding

bonds,is$5,580,8

48.

TheCityhadoneoutstandingloanthroughBusinessOregonthatisnotadirectplacementandhasnopledgedcollateral.

ThisloanwasaFullFaithandCreditIssuance.IntheeventofdefaulttheCityhas15daystocureortheremainingloan

becomespayableimmediately.Theloanwasfullypaidoffduringthecurrentyear.

TheCitydoesnothaveanylinesofcredit.

7) POST‐EMPLOYMENTBENEFITSOTHERTHANPENSIONS

Theother

postemploymentbenefits(OPEB)fortheCitycombinestwoseparateplans.TheCityprovidesanimplicitrate

subsidyforretireehealthinsurancepremiums,andacontributiontotheStateof

Oregon’sPERScost‐sharingmultiple‐

employerdefinedhealthinsurancebenefitplan.

A. FinancialStatementPresentation

The City’s two OPEB plans are presented in the aggregate on the Statement  of Net Position.The amounts on the

financialstatementsrelatetotheplansasfollows:



Bonds ‐URA

Tota l 

Princ ipa l

Interest

Governmental 

Acti vi ti es

Principal Inter es t

Total

2022 4,184,033$ 4,184,033$ 387,575$ 4,571,608$ 399,000$ 44,013 443,013$

2023 3,854,033 3,854,033 353,792 4,207,825 410,000 35,050 445,050

2024 3,939,033 3,939,033 277,149 4,216,182 416,000 25,908 441,908

2025 4,019,033 4,019,033 192,358 4,211,391 357,000 17,377 374,377

2026 4,109,333 4,109,333 99,184 4,208,517 213,000 11,234 224,234

2027‐2031 ‐ ‐ ‐ ‐ 431,000 9,061 440,061

2032‐2036 ‐



 ‐ ‐ ‐ ‐ ‐ ‐

Tota l 20,105,465$ 20,105,465$ 1,310,058$ 21,415,523$ 2,226,000$ 142,643$ 2,368,643$

CUB

CityofCanbyGovernmentalActivities

FiscalYear

EndingJune

30,

ImplicitRate

SubsidyPlan

PERSRHIA

Plan

TotalOPEB

onFinancials

DeferredOutflowsofResources

ContributionsAftertheMeasurementDate 44,315$ 1,511$ 45,826$

Differencesbetweenexpectedandac tualexperience 69,129 ‐ 69,129

ChangeinAssumptions 12,194 ‐ 12,194

DifferenceinEarnings 78,284 8,756 87,040

ChangeinProportionateShare ‐ 24,453 24,453

TotalOPEBLiability (659,578) 78,733 (580,845)

DeferredInflowsofRe

sources

Differencesbetweenexpectedandac tualexperience ‐ (8,049) (8,049)

ChangeinAssumptions (131,027) (4,185) (135,212)

ChangeinProportionateShare ‐ (1,252) (1,252)

OPEBExpense/(Income) 8 2,307 2,315

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

36

7) POST‐EMPLOYMENTBENEFITSOTHERTHANPENSIONS(Continued)

B. ImplicitRateStudy

PlanDescription

TheCity’ssingle‐employerdefinedbenefitpostemploymenthealthcareplanisadministeredbyCityCountyInsurance

Services(CIS).BenefitprovisionsareestablishedthroughnegotiationsbetweentheCityandrepresentativesofCityor

through resolutions passed by City Council. No assets are accumulated

 in a trust that meet the criteria in GASB

Statement75.

The City’s postemployment healthcare plan administrator issues a publicly available financial report that includes

financialstatementsandrequiredsupplementaryinformationforCIS.ThisreportmaybeobtainedbywritingtotheCIS

MainOffice,1212CourtStreetNE,SalemOR9

7301.

BenefitsProvided

The plan provides eligible retirees and their dependents under age 65 the same health care coverage at the same

premiumratesasofferedtoactiveemployees.Theretireeisresponsibleforthepremiums.Asofthevaluationdateof

July1,2019,thenumberofparticipantscove

redbythebenefittermsisasfollows:



TotalLiability,Expense,DeferredOutflowsandInflowsofResourcesRelatedtoOPEB

The City’s total OPEB liability of $659,578 was measured as of June 30, 2020 and was determined by an actuarial

valuationasofJuly1,2020.

ForthefiscalyearendedJune30

,2021,theCityrecognizedOPEBexpensefromthisplanof$8.AtJune30,2021,the

City reported deferred outflows of resources and deferred inflows of resources related to this OPEB plan from the

followingsources:



DeferredoutflowsofresourcesrelatedtoOPEBof$44,315resultingfromtheCity’scontributionssubsequenttoth

e

measurementdatewillberecognizedasareductionofthetotalOPEBliabilityintheyearendedJune30,2022.Other

amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be

recognizedinOPEBexpenseasfollows:



Ci ty CUB

Inactive employeesorbenef iciariesreceivingbe nefits 5 2

Activeemployees 88 25

93 27

Deferred

Outflowof

Resources

Deferred

Inflowof

Resources

Deferred

Outflowof

Resources

Deferred

Infl owof

Resources

Differencesbetweenexpecte dandactualexperience 69,129$ ‐$ ‐$ ‐$

ChangeinAssumptions 12,194 131,027 8,945 10,621

Contributi onssubsequenttotheM D 44,315 ‐ 16,537 22,202

NetDeferredOutflow/(lnflow)ofResources

125,638$ 131,027$ 25,482$ 32,823$

City CUB

Yearended

June30: City CUB

2022 (14,422)$ (7,117)$

2023 (14,422) (7,117)

2024 (14,422) (6,929)

2025 (14,422) (2,918)

2026 (13,849) 192

Thereafter 21,833 11

Total (49,704)$ (23,878)$

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

37

7) POST‐EMPLOYMENTBENEFITSOTHERTHANPENSIONS(Continued)

B. ImplicitRateStudy(Continued)

ActuarialAssumptionsandOtherInputs

ThetotalOPEBliabilityfortheJune30,2020valuationwasdeterminedusingthefollowingactuarialassumptionsand

otherinputs,appliedtoallperiodsincludedinthemeasurement,unlessotherwisespecified:inflationrateof2.50%,

projectedsalaryincreasesof3.50%,discountrateof2.21

%(changefrom3.50%inthepreviousmeasurementperiod),

medicalandvisionvariesbetween5%and3.75%(duetothetimingoftheexcisetaxscheduledtoaffecthealthcare

benefits),dentalat4.00%,andmortalityratesbasedonthePub‐2

010Generaland

SafetyEmployeeandHealthyRetiree

tables, sex distinct for members and dependents, with a one‐year setback for male general service employees and

femalesafetyemployees.

ThediscountratewasbasedonBondBuyer20‐YearGeneralObligationBondIndex.

ChangesintheTotalOPEBLiability



Theeffectofchangesinassumptionsistheresultof

thechangeinthediscountratefrom3.50to2.21.

SensitivityoftheTotalOPEBLiability

ThefollowingpresentstheCity’stotalOPEBliability,aswellaswhattheliabilitywouldbeifitwerecalculatedusinga

discount rate that is 1 percentage point low

er (1.21 percent) or 1 percentage point higher (3.21 percent) than the

currentdiscountrate.Asimilarsensitivityanalysisisthenpresentedforchangesinthehealthcaretrendassumption.





City CUB

Balanc easofJune30,2020 551,931$ 86,969$

Changesfortheyear:

Servicecost 38,726 7,789

InterestontotalOPEBliability 20,200 3,206

Effectofeconomic/demographicgainsorlosses 78,284 8, 773

Effectofassump tionschangesorinputs (2,329) (8, 630)

Benefitpayments (27,234) ( 6,379)

Balanc easofJune30,2021 659,578$ 91,728$

DiscountRate: 1%Decrease

(1.21%)

DiscountRate

(2.21%)

1%Increase

(3.21%)

1%Decrease

(1.21%)

DiscountRate

(2.21%)

1%Increase

(3.21%)

TotalOPEBLiability 709,562$ 659,578$ 612,794$ 97,607$ 91,728$ 86,150$

HealthcareCostTrend:

1%Decrease

HealthcareCo st

TrendRate 1%Increase 1%Decrease

HealthcareCost

TrendRate 1%Increase

TotalOPEBLiability 588,653$ 659,578$ 744,032$ 82,239$ 91,728$ 103,

340$

City CUB

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

38

7) POST‐EMPLOYMENTBENEFITSOTHERTHANPENSIONS(Continued)

C. PERSRetirementHealthInsuranceAccount

PlanDescription

TheCitycontributestothePERSRetirement HealthInsuranceAccount(RHIA)foreachofitseligibleemployees.RHIA

isa cost‐sharingmultiple‐employer definedbenefit other postemployment benefit plan administeredbyPERS. RHIA

paysamonthl

ycontributiontowardthecostof

Medicarecompanionhealthinsurancepremiumsforeligibleretirees.

ORS238.420establishedthistrustfund.AuthoritytoestablishandamendthebenefitprovisionsofRHIAresidewith

theOregonLegislature.TheplanisclosedtonewentrantshiredafterAugust29,2003.

PERS issues publicly available financial statements and

 required supplementary information.That report may be

obtainedbywritingtoOregonPublicEmployeesRetirementSystem,POBox23700,Tigard,OR97281‐3700,oronline

at:www.oregon.gov/pers/Pages/Financials/Actuarial‐Financial‐Information.aspx

BenefitsProvided

BecauseRHIAwascreatedbyenablinglegislation(ORS238.420),contributionrequirementsoftheplanmembersand

theparticipating

employerswereestablishedandmaybeamendedonlybytheOregonLegislature.ORSrequirethat

an amount equal to $60 or the total monthly cost of Medicare companion health insurance premiums coverage,

whicheverisless,shallbepaidfromtheRHIAestablishedbytheemployer,andanymonthlycostinexcessof$6

shall

bepaidbytheeligibleretiredmemberinthemannerprovidedinORS238.410.Tobeeligibletoreceivethismonthly

paymenttowardthepremiumcost,themembermust:(1)haveeightyearsormoreofqualifyingserviceinPERSatthe

timeofretire

mentorrecei

veadisabilityallowanceasifthememberhadeightyearsormoreofcreditableservicein

PERS,(2)receivebothMedicarePartsAandBcoverage,and(3)enrollinaPERS‐sponsoredhealthplan.Asurviving

spouseordependentofadeceasedPERSretireewhowaseligibletoreceivethesubsidy

iseligibletoreceivethesubsidy

ifheorshe(1)isreceivingaretirementbenefitorallowancefromPERSor(2)wasinsuredatthetimethememberdied

andthememberretiredbeforeMay1,1991.

Contributions

PERS funding policy provides for employer contributions at actuarially determined rates. These contributions,

expressedasapercentageofcoveredpayroll,areintendedtoaccu

mulatesufficientassetstopaybenefitswhendue.

EmployercontributionratesfortheperiodwerebasedontheDecember31,2017actuarialvaluation.Theratesbased

onapercentageofpayroll,firstbecameeffectiveJuly1,201

9.TheCity’scontributionratesfortheperiodwere0.06%

forTier

One/TierTwomembers.TheCity’stotalfortheyearendedJune30,2020contributionswas$1,511.

Assets,Liabilities,Expense,andDeferredOutflowsandInflowsofResourcesRelatedtoOPEB

AtJune30,2021,theCityreportedanassetof

$78,733foritsproportionateshareoftheOPERSnetOPEBasset.The

netOPEBassetwasmeasuredasofJune30,2020,andthetotalOPEBliabilityusedtocalculatethenetOPEBassetwas

determinedbyanactuarialvaluationasofDecember31,2018rolledforwardtoJune30,2020.Th

eCity’sproportion

of the net OPEB asset was based on the City’s contributions to the RHIA program during the measurement period

relativetocontributionsfromallparticipatingemployers.AtJune30,2020,theCity’sproportionatesharewas0.0386%,

whichisadecreasefromitsproportionof0.0240%asofJune30

,2

019.

FortheyearendedJune30,2021,theCityrecognizedOPEBincomefromthisplanof$2,307.AtJune30,2021,theCity

reporteddeferredoutflowsofresourcesanddeferredinflowsofresourcesrelatedtothisOPEBplanfromthefollowing

sources:



CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

39

7) POST‐EMPLOYMENTBENEFITSOTHERTHANPENSIONS(Continued)

C. PERSRetirementHealthInsuranceAccount(Continued)



Deferredoutflows of resources related to OPEB of $1,511 resultingfrom the City’scontributions subsequent tothe

measurementdatewillberecognizedaseitherareductionofthenetOPEBliabilityoranincreaseinthenetOP

EBasset

in the subsequent fiscal pe

riod. Other amounts reported asdeferred outflows of resources and deferred inflows of

resourcesrelatedtoOPEBwillberecognizedinOPEBexpenseasfollows:



ActuarialMethodsandAssumptions



Deferred

Outflowof

Resources

Deferred

Inflowof 

Resources

‐$ 8,049$

Changesof assumptions ‐ 4,185

8,756 ‐

24,453 1,252

1,511 ‐

Total

34,720$ 13,486$

City

NetDifferencebetweenProjectedandActualEarnings

ChangeinProporti on ateShare

Contributionssubse q uenttotheMD

Differencesbe tweenexpectedandac tualexperience

Yearended

June30: City

2022 3,885$

2023 9,839

2024 3,237

2025 2,762

Total 19,723$

ValuationDate

MeasurementDate

ExperienceStudyReport

ActuarialCostMethod

ActuarialAssumptions:

InflationRate

Long‐termexpectedrateofreturn

Discountrate

Proje cte dSalary Increases

Costoflivingadjustments(COLA)

Mortality

ActiveMembers:

Disabledretirees:

December31,20 18

2018,publishedJuly24,2019

June30,2020

Pub‐2010DisableRetiree,sexdi stin ct,generationalwithUnisex,Social 

SecurityDataScale, wi

thjo

bcategoryadjustmentsandset‐back sas

described inthevaluation.

Pub‐2010HealthyRetiree,sexdistinct,generationalwithUnisex,Social 

SecurityDataScale, withjobcategoryadjustmentsandset‐back sas

described inthevaluation.

Pub‐2010Employee,sexdi stin ct,generationalwithUnisex,Social Security 

DataScale , withjobcat

egoryad

justmentsandset‐backsasdes cribedin

thevaluation.

2.50percent

EntryAgeNormal

7.20percent

3.50percent

Blendof2.00%COLAandgradedCOLA(1.25%/0.15%)inac c ordancewi th

Moro decisi on;ble ndbase donservice.

7.20percent

Healthretireesandbeneficiaries:

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

40

7) POST‐EMPLOYMENTBENEFITSOTHERTHANPENSIONS(Continued)

C. PERSRetirementHealthInsuranceAccount(Continued)

See OPERS Pension Plan footnote for additional information on actuarial assumptions and methods, the long‐term

expectedrateofreturn,andthediscountrate.

SensitivityoftheproportionateshareofthenetOPEBliability(asset)tochangesinthediscountrate

ThefollowingpresentstheCity’sproportionateshareofthenetOPEBliability(asset)calculatedusi

ngthediscountrate

of7.20%,aswellaswhattheCity’sproportionateshareofthenetOPEBliability(asset)wouldbeifitwerecalculated

usingadiscountratethatis1percentagepointlower(6

.20%)or1percentagepointhigher(8.20%)thanthecurrent

rate:



OPEBPlanFiduciaryNetPosition

Detailedinformationaboutthepensionplan’sfiduciarynetpositionisavailableintheseparatelyissuedOPERSfinancial

report.

D Post‐RetirementBenefits–SickLeave

Inadditiontopensionbenefits,theCityhascontractuall

agreedtopayemployees50%ofaccumulatedsickleavewith

a maximum payout of 500 hours at the time of retirement.The City recognizes this cost at the fund level when

employeesretireandbenefitispaid.During2020‐2021,areductionof$81,219incostswererecognized.Attheentity

wide level the City recognized

 a liability and corresponding expense for retirement benefits of eligible employees

calculatedbasedonsickleaveaccruedasofJune30,2021.

8) PENSIONPLAN

A.PlanDes c rip tion

SubstantiallyallCityandCUBemployeesaremembersintheOregonPublicEmployeesRetirementSystem(OPERS);a

cost‐sharing multiple‐employer defined benefit pension plan thatacts as a common investment and administrative

agentforgovernmentunitsintheStateofOregon.EmployeeshiredbeforeAugust29,2003belongtotheTierOne/Tier

TwoRetirementBenefitProgram(establishedpursuanttoORSChapter238),whilee

mployeeshiredonorafterAu

gust

29, 2003 belong to the OPSRP Pension Program (established pursuant to ORS Chapter 238A).OPERS produces an

independently audited ACFR which can be found at: www.oregon.gov/pers/Pages/Financials/Actuarial‐Financial‐

Information.aspx.

B.BenefitsProvided

TierOne/TierTwoRetirementBenefits

PensionBenefits.ThePERSretirementallowanceispayablemonthlyforlife.Itmaybeselectedfrom13retirement

benefitoptions.Theseoptionsincludesurvivorshipbenefitsandlump‐sumrefunds.Thebasicbenefitisbasedonyears

of service and final average salary.A percentage (2.0% for police and fire employees, 1.67% for general service

employees)ismultipliedbythenumberofyearsofserviceand

thefinalaveragesalary.Benefitsmayalsobecalculated

undereitheraformulaplusannuity(formemberswhowerecontributingbeforeAugust21,1981)oramoneymatch

computationifagreaterbe

nefitresults.



1%

Decrease

(6.20%)

Current

Discount

Rate(7.20%)

1%

Increase

(8.20%)

NetOPEBLiability(Asset) (63,564)$ (78,733)$ (91,704)$

City

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

41

8) PENSIONPLAN(Continued)

B. BenefitsProvided(Continued)

TierOne/TierTwoRetirementBenefits(Continued)

Amemberisconsideredvestedandwillbeeligibleataminimumretirementageforaserviceretirementallowanceif

heorshe hashadcontribution ineachof five calendaryearsor hasreachedat least50years of agebeforeceas

ing

employmentwithaparticipatingemployer(age45forpoliceandfiremembers).GeneralServiceemployeesmayretire

afterreachingage55.Policeandfiremembersareeligibleafterreachingage50.TierOnegeneralserviceemployee

benefitsarereducedifretirementoccurspriortoage58withfewerthan30yearsofservice.Policeandfiremem

er

benefitsarereducedifretirementoccurspriortoage55withfewerthan25yearsofservice.TierTwomembersare

eligibleforfullbenefitsatage60.TheORSChapter238DefinedBenefitPensionPlanisclosedtonewmember

shired

onorafterAugust29,200

3.

DeathBenefits‐Uponthedeathofanon‐retiredmember,thebeneficiaryreceivesalump‐sumrefundofthemember’s

accountbalance(accumulatedcontributionsandinterest).Inaddition,thebeneficiarywillreceivealump‐sumpayment

fromemployerfundsequaltotheaccountbalance,providedoneormoreof

thefollowingconditionsaremet:

 thememberwasemployedbyaPERSemp l oyeratthetimeofdeath,

 thememberdiedwithin120daysafterterminationof PERS‐coveredemployment ,

 thememberdiedasaresultofinjurysustainedwhileemplo

yedinaPERS‐coveredjob,

 thememberwasonanofficialleaveofabsencefromaPERS‐coveredjobatthetimeofdeath.

DisabilityBenefits‐Amemberwith10ormoreyearsofcreditableservicewhobecomesdisabledfromotherthanduty‐

connectedcausesmayreceiveanon‐dutydisabilitybenefit.

Adisabilityresultingfromajob‐incurredinjuryorillness

qualifiesamemberfordisabilitybenefitregardlessofthelengthofPERS‐coveredservice.Uponqualifyingforeithera

non‐dutyordutydisability,servicetimeiscomputedtoage58(55forpoliceandfiremembers)wh

ndeterminingthe

monthlybenefit.

BenefitChangesAfterRetirement‐Membersmaychoosetocontinueparticipationinavariableequitiesinvestment

account after retiring andmay experienceannual benefit fluctuationsdue to changesin the marketvalue of equity

investments.UnderORS238.360monthlybenefitsareadjustedannuallythroughcost‐of‐livingchanges.

OPSRPPe

nsionPr ogr am

PensionBenefits.ThePensionProgram(ORSChapter238A)providesbenefitstomembershiredonorafterAugust29,

2003.This portion of OPSRP provides a life pension funded by employer contributions.Benefits are calculated by

formula for members who attain normal retirement age.For general service members, 1.5% is multiplied by the

number

ofyearsofserviceandthefinalaveragesalary.Normalretirementageforgeneralservicemembersisage65,

orage58with30yearsofretirementcredit.Forpoliceandfiremembers,1.8%ismultipliedbythenumberofyearsof

serviceandthefinalaveragesalary.Normalretireme

ageforpoliceandfiremembersisage60orage53with25

years of retirement credit.To be classified as a police and fire member, the individual must have been employed

continuouslyasapoliceandfirememberforatleastfiveyearsimmediatelyprecedingretirement.

Amemberof

theOPSRPPensionProgrambecomesvestedontheearliestofthefollowingdates:thedatethemember

completes600hoursofserviceineachoffivecalendaryears,thedatethememberreachesnormalretirementage,

andifthepensionprogramisterminated,thedateonwhichterminationbecomeseffective.



CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

42

8) PENSIONPLAN(Continued)

B. BenefitsProvided(Continued)

OPSRPPensionProgram(Continued)

DeathBenefits‐Uponthedeathofanon‐retiredmember,thespouseorotherpersonwhoisconstitutionallyrequired

tobetreatedinthesamemannerasthespouse,receivesforlife50percentofthepensionthatwouldotherwisehave

beenpaidtothedeceasedmember.

DisabilityBenefits‐

Amemberwhohasaccrued10ormoreyearsofretirementcreditsbeforethememberbecomes

disabledoramemberwhobecomesdisabledduetojob‐relatedinjuryshallreceiveadisabilitybenefitof45percentof

themember’ssalarydeterminedasofthelastfullmonthofemploymentbeforeth

edisabilityoccurred.

BenefitChangesAfterRetirement

‐UnderORS238A.210monthlybenefitsareadjustedannuallythroughcost‐of‐living

changes.

OPSRPIndividualAccountProgram(IAP)

PensionBenefits.TheIAPmemberbecomesvestedonthedatetheemployeeaccountisestablishedoronthedate

the rollover account was established. If the employer makes optional employer contributions for a member,

 the

memberbecomesvestedontheearliestofthefollowingdates:thedatethemembercompletes600hoursofservice

ineachoffivecalendaryears,thedatethememberreachesnormalretirementage,thedatetheIAPisterminat

ed,

the

datetheactivememberbecomesdisabled,orthedatetheactivememberdies.

Upon retirement, a member of the OPSRP IAP may receive the amounts in his or her employee account, rollover

account, andvested employer account as a lump‐sum payment or in equal installments over a 5‐, 10‐, 15‐,20‐year

periodorananticipatedlifespan

option.Eachdistributionoptionhasa$200minimumdistributionlimit.

DeathBenefits‐Uponthedeathofanon‐retiredmember,thebeneficiaryreceivesinalumpsumthemember’saccount

balance,rolloveraccountbala

nce,andvestedemployeroptionalcontributionaccountbalance.Ifa retiredmember

diesbeforetheinstallmentpaymentsarecompleted,thebeneficiarymayreceivetheremaininginstallmentpayments

orchoosealump‐sumpayment.

Recordkeeping‐PERScontractswithVOYAFinancialtomaintainIAPparticipantrecords.

C.Contributions

PERSfundingpolicyprovidesformonthlyemployercontributionsatactuariallydeterminedrates.Thesecontrib

utions,

expressedasapercentageofcoveredpayroll,areintendedtoaccumulatesufficientassetstopaybenefitswhendue.

EmployercontributionratesfortheperiodwerebasedontheDecember31,2017actuarialvaluation.Theratesbased

ona percentageofpayroll,firstbecameef

fectiveJuly

1,2019.TheCity’scontributionratesfortheperiodwere22.31%

for Tier One/Tier Two members, 13.6% for OPSRP General Service members, and 18.23%for OPSRP Police and Fire

members.TheCity’stotalcontributionsexclusiveofthe6%“pick‐up”was$1,261,775.CUBemployercontributions

fortheyeare

nded

June30,2021were$448,205,excludingamountstofundemployerspecificliabilities.

Coveredemployeesarerequiredtocontribute6%oftheirsalarytothePlan,buttheemployerisallowedtopayanyor

all of the employees’ contribution in addition to the required employers’ contribution. The City has el

ected to

contributethe6%“pick‐up”or$330,537oftheemployees’contribution.



CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

43

8) PENSIONPLAN(Continued)

D.Assets,Liabilities,Expense,andDeferredOutflowsand InflowsofResourcesRelatedtoPens ions

AtJune30,2021,theCityandCUBreportedaliabilityof$14,222,220and$4,190,578respectivelyforitsproportionate

share ofthe OPERS net pension liability.The net pensionliability was measured as of June 30, 2020, and the total

pensionliabilityusedtocalc

ulatethenetpensionliabilitywasdeterminedbyanactuarialvaluationasofDecember31,

2018rolledforwardtoJune30,2020.TheCity’sproportionofthenetpensionliabilitywasbasedonaprojectionof

theCity’slong‐termshareofcontributionstothepensionplanrelativetotheprojecte

dcontribution

sofallparticipating

employers, actuarially determined.At June30, 2021,the City’sand CUB’sproportionate  share were 0.06517% and

0.0192% respectively, which changed from its proportionate share measured as of June 30, 2020 by 0.0167% and

0.0001%,respectively.

For the year ended June 30

, 2

021, the City and CUB recognized pension expense of $1,936,870 and $446,860

respectively.At June 30, 2021, the City and CUB reported deferred outflows of resources and deferred inflows of

resourcesrelatedtopensionsfromthefollowingsources:



Deferred outflows of resour ces related to pensions of $1

,26

1,775and $448,205resulting from the City’sand CUB’s

respectivecontributions subsequent tothe measurement datewill be recognized as a reduction ofthe net pension

liabilityoranincreaseinthenetpensionassetintheyearendingJune30,2022.Otheramountsreportedasdeferred

outflowsofre

sourcesrelated

topensionswillberecognizedinpensionexpenseasfollows:



E.ActuarialMethodsandAssumption s

Actuarialvaluationsofanongoingplaninvolveestimatesofthevalueofprojectedbenefitsandassumptionsaboutthe

probabilityofeventsfar intothefuture.Actuarially determinedamountsaresubject tocontinualrevisionas actual

results are compared to past expectations and new estimates are made about the future.Experience studies ar

e

performed

asofDecember31ofevennumberedyears.Themethodsandassumptionsshownbelowarebasedonthe

2018experiencestudywhichreviewedexperienceforthefour‐yearperiodendingonDecember31,201

8.



Deferred

Outflowof

Resourc es

Deferred

Inflowof

Resourc es

Deferred

Outf lo wof

Resourc es

Deferred

Inf lowof

Resourc es

Differencesbetweenexpectedandactualexperience 625,950$ ‐$ 184,436$ ‐$

Changesofassumptions 763,262 26,743 224,895 7,880

Netdifferencebetweenprojectedandactualearningsoninvestments 1,672, 348 ‐ 492,758 ‐

Changesin proportionateshare 262,590 271,179 65,22 8 125,314

Differencesbe

tweenem

ployercontributionsandemployer'sproportionate

shareofsystemcontributions

267,971 110,117 24,86 7 20,053

ContributionssubsequenttotheMD 1,261,775 ‐ 448,205 ‐

NetDeferredOutflow/(lnflow)ofResources

4,853,896$ 408,039$ 1,440, 389$ 153,247$

City CUB

YearendedJune30: City CUB

2022 688,311$ 154,497$

2023 909,971 250, 98 3

2024 860,568 255, 94 2

2025 680,069 174, 30 6

2026 45,163 3, 20 9

Total 3,184,082$ 838,93 7$

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

44

8) PENSIONPLAN(Continued)

E.ActuarialMethodsandAssumption s(Continued)



ThetotalpensionliabilityintheDecember31,2018actuarialvaluationwasdeterminedusingtheactuarialmethods 

andassumptionsshowninthepriortable.

F. Long‐TermExpectedRateofReturn

Todevelopananalyticalbasisfortheselectionofthelong‐termexpected

rateofreturnassumption,inJuly2015the

PERSBoardreviewedlong‐termassumptionsdevelopedbybothMilliman’scapitalmarketassumptionsteamandthe

OregonInvestmentCouncil’s(OIC)investmentadvisors.ThetablebelowshowsMilliman’sassumptionsforeachofthe

assetclassesinwhichtheplanwasinvestedatth

attim

ebasedontheOIClong‐termtargetassetallocation.TheOIC’s

descriptionofeachassetclasswasusedtomapthetargetallocationtotheassetclassesshownbelow.Eachassetclass

assumption was based on a consistent set of underlying assumptions, and includes adjustment for the inflation

assumption.Theseassumptionsarenotbasedonhistoricalreturns,butinsteadarebasedonafo

rward‐lookingcapital

marketeconomicmodel.

G. DiscountRate

The discount rate used to measure thetotal pension liability was 7.20% for the Defined Benefit Pension Plan.The

projectionofcashflowsusedtodeterminethediscountrateassumedth

atcontributionsfromplanmembersandthose

contributing employers are made at the contractually required rates, as actuarially determined.Based on those

assumptions,thepension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ex

ectedrateofreturnonpensionplaninvestmentsfor

the Defined Benefit Pension Plan was applied to all periods of projected benefit payments to determine the total

pensionliability.

ValuationDate

Measurem entDate

Experien ceStudyReport

Ac tuarialCostMethod

Ac tuarialAssumptions:

InflationRate

Long‐termexpectedrateofreturn

Discountrate

ProjectedSalaryIncreases

Costoflivingadjustments(COLA)

Mortality

ActiveMembers:

Disabledretirees:

Pub‐2010DisableRetiree,sexdistinct,generationalwithUnisex,

SocialSecurityDataScale,withjobcategoryadjustmentsandset‐

backsasdescribedinth

eva

luation.

2.50percent

December31,2018

2018, publishedJuly24,2019

EntryAgeNormal

June30,2020

7.20percent

3.50percent

Blendof2.00%COLAandgradedCOLA( 1 .25%/0.15%)in 

accordancewithMoro decision;blendbasedonservice.

Pub‐2010HealthyRetiree,sexdistinct,generationalwithUnisex,

SocialSecurityDataScale,withjobcat

egoryad

justmentsandset‐

backsasdescribedinth evaluation.

Pub‐2010Employee,sexdistinct,generationalwithUnisex,Social

SecurityDataScale,withjobcategoryadjustmentsandset‐backs

asdescribedinthevaluation.

7.20percent

Healthretireesandbeneficiaries:

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

45

8) PENSIONPLAN(Continued)

H. Long‐TermExpectedRateofReturn



I. S ens it iv ityoftheCity’sproporti on ateshareofthenetpensionliabilitytoch ang es inthediscou nt rate

ThefollowingpresentstheCity’sproportionateshareofthenetpensionliability(asset)calculatedusingthediscount

rate of 7.20%, as well as what the City’s proportionate share of

 the net pension liability (asset) would be if it were

calculatedusingadiscountratethatisonepercentagepointlower(6.20%)oronepercentagepointhigher(8.20%)than

thecurrentrate:



J. PensionPlanFiduciaryNetPosition

Detailedinformationaboutthepensionplan’sfiduciarynetpositionisavailableintheseparatelyissuedOPERSfinancial

report.



AssetClass

Target

Allocation

Compounded

AnnualReturn

(Geometric)

CoreFixedIncome 9.60% 4.07%

Short‐TermBonds 9.60% 3.68%

Bank/LeveragedLoans 3.60% 5.19%

HighYieldBonds 1.20% 5.74%

Large/MidCapUSEquities 16.17% 6.30%

SmallCapUSEquities 1.35% 6.68%

MicroCapUSEquities 1.35% 6.79%

Developed ForeignEqu ities 13.48% 6.91%

EmergingMarketEquities 4.24% 7.69%

Non‐USSmallCapEquities 1.93% 7.25%

PrivateEquity 17.50% 8.33%

RealEstate(Property) 10.00% 5.55%

RealEstate(REITS) 2.50% 6.69%

HedgeFundofFun d s‐Diversified 1.50% 4.06%

HedgeFund‐Event‐driven 0.38% 5.59%

Timber 1.13% 5.61%

Farmland 1.13% 6.12%

frastructure 2.25% 6.67%

Commodities 1.13% 3.79%

AssumedInf lation‐Mean 2.50%

Proportionateshareofthenet

pensionliability(asset)

1%Decrease

(6.20%)

DiscountRate

(7.20%)

1%Increase

(8.20%)

City 21, 118,822$ 14, 222,220$ 8,439,099$

CUB 4,148,700 4,190,578 4,232,500

CITYOFCANBY,OREGON

NOTESTOTHEFINANCIALSTATEMENTS

FortheYearEndedJune30,2021

46

9) RISKMANAGEMENT

TheCityisexposedtovariousrisksoflossrelatedtotorts;theftof,damageto,anddestructionofassets;errorsand

omissions;injuries toemployees;andnatural disasters.The CityisamemberoftheCity/County InsuranceServices

TrustandpaysanannualpremiumtotheTrustfor its generalandautomobileliability, automobilephysicaldamage

and

propertycoverage.UnderthemembershipagreementwiththeTrust,theTrustistobeself‐sustainingthrough

memberpremiumsandwillreinsurethroughcommercialcompaniesforclaimsinexcessofcertainlimits.

TheCity carriescommercial insurance for other risksof loss includingworkers compensation,boiler and

machinery,

publicofficialbond,andemployeedishonestycoverage.Settledclaimsresultingfromtheseriskshavenotexceeded

commercialinsurancecoverageinanyofthepastfouryears.

10) COMMITMENTSANDCONTINGENCIES

Grantsreceivableandgrantreceiptsaresubjecttoadjustmentbygrantoragencies,principallytheFederalGovernment.

Anydisallowe

dclaims,includingclaimsalreadycollected,couldbecomealiabilitytotheCity.Managementbelieves

suchamounts,ifany,willhavenomaterialeffectonthefinancialstatements.

ManagementoftheCity believesthatthetotalamount of liability,if any,  whichmayarise fromclaimsand lawsuits

pendingagainst theCity beyond

that, whichis coveredby insurance,would nothave amaterialeffect onthe City ’s

financialcondition.

At June 30, 2021, the City had outstanding commitments for consulting, construction and equipment totaling

approximately$2,062,108.

TheCityparticipatesinaworkerscompensationretroactiveplanandthemaximumoutstandingworkerscompensation

exposureis$65,574.

11) TAXABATEMENTS

Vertica

lHousingProgram

The City enters into property tax abatement agreements with local businesses under the state Vertical Housing

Program,authorizedbyORS307.841throughORS307.867.ThepurposeoftheProgramistoencourageinvestmentin

andrehabilitation ofproper

tiesin targetedareas of

a cityor community,to augment theavailability ofappropriate

housing, and to revitalize communities. The program encourages mixed‐use developments that contain both non‐

residentialandresidentialusesinareas(zones)designatedbylocaljurisdictions.TheCityhasoneVerticalHousingTax

exemptionfortheresidentialportionofth

eDahliabuildi

ngindowntownCanby.Theexemptionis60%oftheresidential

property taxes for 10 years. The FY20‐21 abatement is approximately $16,198 for the City and $10,684 for Urban

Renewal.

12) RELATEDPARTY

TheCityreceivespaymentsfromCUBforcontributionsinlieuoftaxes;fortheyearendedJune30

,2021,contributions

totaled$846,614.ThereceivableamountsatJune30,2021are,$68,426forcontributionsinlieuoftaxesandshared

expenses.

13) DEFICITNETPOSITION/FUNDBALANCES

The Facilities and Fleet Internal Service Fund reported deficit net position balances of $48,808 and $128,136

respectivelyasofJune30,2021.ThedeficitnetpositionisduetochangesinnetpensionandOPEBliabilitiesduringthe

year.



47

REQUIREDSUPPLEMENTARYINFORMATION



CITYOFCANBY,OREGON

GENERALFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheFiscalYearEndedJune30,2021

SeenotestoRSI

48



Original Fi nal Actual Vari ance

REVENUES:

Propertytaxes 5,335,000$ 5,335,000$ 5,518,863$ 183,863$

Intergovernmental 570,200 570,200 1,014,827 444,627

Franchi se 1,678, 000 1,678,000 1,672,933 (5,067)

Charges forservices 826,600 826,600 1,238,550 411,950

Licenses,fees,pe rmits 159,700 159,700 184,664 24,964

Finesandforfeitures 480,0 0 0 480,000 493,684 13,684

Grants&donations 66,000 66,000 72,075 6,075

Interest 75,000 75,000 27,295 (47,705)

Miscellaneous 123,942 491,942 137,365 (354,577)

Totalrevenues 9,

314,442 9,682,442 10,360,256 677,814

EXPENDITURES:

Administration 580,012 617,012 599,190 17,822

HR/RiskM anagement 580,596 551,596 496,186 55,410

Finance 597, 161 573,161 554,001 19,160

Court 538, 413 536,413 508,684 27,729

Planning 416,808 466,808 459,687 7,121

Building 40,810 40,810 34,959 5,851

Police 5,958,950 5,958,950 5,907,215 51,735

Parks 1,239,083 1,319,083 1,208,071 111,012

Cemetery 155,170 165,170 167,562 (2,392)

EconomicDevelopment 453,29 3 421,293 362,660 58,633

Unallocated

Pe rsonnel services 64,268 249,268 234,978 14

,290

Materi als&services 61, 461 429,461 440,087 (10,626)

Continge ncy 200,000 5,000 ‐ 5,000

Totalex pe nditures 10,886,025 11,334,025 10,973,280 360,745

Revenuesover(under)expenditures (1,571,583) ( 1,651,583) (613,024) 1,038,559

OTHERFINANCINGSO URCES(USES):

SpecialPayments (25,000) (25,000) (20,706) 4,294

Transfersin 1,540,621 1,572,621 1,385,558 (187,063)

Transfersout (200,714) (200,714) (200,714) ‐

Totalotherf inancingsources(uses) 1,314,907 1,346,907 1,164,138 (182,769)

Netchangesinfundba

l ances (256, 676) (304,676) 551,114 855,790

3,309,301 3,309,301 3,324,431 15,130

FUNDBALANCE,ENDING 3,052,625$ 3,004,625$ 3,875,545$ 870,920$

FUNDBALANCE,BEGINNING

Budget

CITYOFCANBY,OREGON

STREETFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheFiscalYearEndedJune30,2021

SeenotestoRSI

49



Original Final Actual Variance

REVENUES:

Intergovernmental 2,025,000$ 2,025,000$ 2,186,330$ 161,330$

Chargesforservices 686,000 686,000 723,772 37,772

Interest 40,000 40,000 19,690 (20,310)

Miscellaneous ‐ ‐ 718,223 718,223

Totalrevenues 2,751,000 2,751,000 3,648,015 897,015

EXPENDITURES:

Streetdepartment 3,310,063 3,310,063 1,431,732 1,878,331

Contingency 53,240 53,240 ‐ 53,240

Totalexpenditures 3,363,303 3,363,303 1,431,732 1,931,571

Revenuesov er(under)expenditures (612,303) (612,303) 2,216,283 2,828,586

OTHERFINANCINGSOURCES(

USES):

ansfersin 1,596,000 1,596,000 47,777 (1,548,223)

Transfersout (230,610) (230,610) (130,610) 100,000

Totalotherfinancingsources(uses) 1,365,390 1,365,390 (82,833) (1,448,223)

Netchangesinfundbalance 753,087 753,087 2,133,450 1,380,363

FUNDBALANCE,BEG INNING 1,815,501 1,815,501 2,110,399 294,898

FUNDBALANCE,ENDING 2,568,588$ 2,568,588$ 4,243,849$ 1,675,261$

Budget

CITYOFCANBY,OREGON

TRANSITFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

SeenotestoRSI

50



Origin al Final Actual Variance

REVENUES:

Transittax 1,411,000$ 1,411,000$ 1,805,992$ 394,992$

Grants&donations 1,899,408 1,899,408 1,504,317 (395,091)

Chargesforservices 60,000 60,000 300 (59,700)

Interest 40,000 40,000 18,784 (21,216)

Miscellaneous 2,000 2,000 1,525 (475)

Totalrevenues 3,412,408 3,412,408 3,330,918 (81,490)

EXPENDITURES:

Transit 3,833,541 3,833,541 2,431,736 1,401,805

Contingency 100,000 100,000 ‐ 100,000

Totalexpenditures 3,933,541 3,933,541 2,431,736 1,501,805

Revenuesover(under)ex penditure s (521,133) (5

1,133) 899,182 1,420,315

OT HER FINANCINGSOURCES(USES):

Transfersout (182,728) (182,728) (182,728) ‐

Netchangesinfundbalance (703,861) (703,861) 716,454 1,420,315

FUNDBALANCE,BEGINNING 1,895,581 1,895,581 2,418,761 523,180

FUNDBALANCE,ENDING 1,191,720$ 1,191,720$ 3,135,215$ 1,943,495$

Budget

CITYOFCANBY,OREGON

URBANRENEWALAGENCY–GENERALFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

SeenotestoRSI

51



Original Fi nal Actual Variance

REVENUES:

Grantsanddonations 137,951$ 137,951$ 2,000$ (135,951)$

Interest 2,800 2,800 876 (1,924)

Miscellaneous ‐ ‐ 52,283 52,283

Totalrevenues 140,751 140,751 55,159 (85,592)

EXPENDITURES:

UrbanRenewal 2,029,561 2,029,561 803,682 1,225,879

Revenuesover( under)expenditures (1,888,810) (1,888,810) (748,523) 1,140,287

OTHERFINANCINGSOURCES(USES):

Transfersin 1,888,810 1,888,810 748,523 (1,140,287)

Netchangeinf undbalance ‐ ‐ ‐ ‐

NDBA

LANCE,BEGINNING ‐ ‐ ‐ ‐

FUNDBALANCE,ENDING ‐$ ‐$ ‐$ ‐$

Budget

CITYOFCANBY,OREGON

SYSTEMDEVELOPMENTCHARGESFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

SeenotestoRSI

52



Original Final Actual Variance

REVENUES:

Syste mdeve lopmentcharges 1,279,310$ 1,279,310$ 2,586,859$ 1,307,549$

Interest 230,000 230,000 85,961 (144,039)

Totalrevenues 1,509,310 1,509,310 2,672,820 1,163,510

OTHERFINANCINGSOURCES(USES):

Transfersout (2,382,000) (2,382,000) (1,282,320) 1,099,680

Netchangeinf undbalance (872,690) (872,690) 1,390,500 2,263,190

FUNDBALANCE,BEGINNING 9,206,113 9,206,113 9,907,514 701,401

FUNDBALANCE,ENDING 8,333,423$ 8,333,423$ 11,298,014$ 2,

964,

591$

Budget

CITYOFCANBY,OREGON

SCHEDULESOFOTHERPOSTEMPLOYEMENTBENEFITPLANS

LASTTENYEARS*

SeenotestoRSI

53



*Theseschedulesarepresentedtoillustratetherequirementstoshowinformationfor10years.However,until

a full 10‐year trend has  been compiled, informatio n is presented only for the years for which the required 

supplementaryinformationisavailable.

2021 2020 2019 2018 2017

ProportionofthenetOPEBliability(asset) 0.0386% 0.0626% 0.0583% 0.0586% 0.0623%

ProportionateshareofthenetOPEBliability(asset) (78,733)$ (120,999)$ (65, 031)$ (24,459)$ 16,918$

CoveredPayroll 6,953,971 6,817,117 6,078, 300 5,997,812 6,038,627

ProportionateshareofthenetOPEBliability(asset)asa

percentageofitscoveredpayroll ‐1% ‐2% ‐1% ‐0.4% 0.3%

Planfiduciarynetpositionasape

rcentageofth

etotal

OPEBliability 150.1% 144.4% 124.0% 108.9% 94.2%

2021 2020 2019 2018 2017

Statutorilyrequiredcontribution 2,457$ 31,068$ 27,962$ 29, 178$ 27,777$

Contributionsinrelationtothestatutorilyrequired

contribution 2,457 31,068 27,962 29,178 27,777

Contributiondeficiency(excess)

‐$ ‐$ ‐$ ‐$ ‐$

CoveredPayroll 7,002, 147 6,953,971 6,817,117 6,078, 300 5,997,812

Contributionsasapercentofcoveredpayroll 0.0% 0.4% 0.4% 0.5% 0.5%

SCHEDULEOFCH

ANGESINTO

TALOPEBL IABILITYANDRELATEDRATIO'S‐LAST10YEARS*

2021 2020 2019 2018

TotalCityOPEBLiability

Servicecost 38,726$ 34,471$ 49,118$ 52,481$

InterestontotalOPEBliability 20,200 20,501 23,686 18,539

Effectofeconomic/demographicgainsorlosses 78,284 ‐ 261 ‐

Effectofassumptionchangesorinputs (2,329) 16,192 (167,508) (42,771)

Benef itpayments (27,234) (28, 713) (17, 005) (

10,

607)

NetChangeinTotalOPEBliability 107,647 42,451 (111, 448) 17,642

BalanceBegin ning 551,931 509,480 620,928 603,286

BalanceEndin g 659,578$ 551,931$ 509,480$ 620,928$

2021 2020 2019 2018

TotalCUBOPEBLiability

Servicecost 7,789$ 6,975$ 8,015$ 8,507$

InterestontotalOPEBliability 3,206 3,191 4,359 3,667

Effectofeconomic/demographicgainsorlosses 8,773 ‐ (19,723) ‐

Effectofas

sumptionch

angesorinputs (8,630) 2,198 (22,873) (6,280)

Benef itpayments (6,379) (1,742) (14,219) (10,457)

NetChangeinTotalOPEBliability 4,759 10,622 (44, 441) (4, 563)

BalanceBegin ning 86,969 76,347 120,788 125,351

BalanceEndin g 91,728$ 86,969$ 76,347$ 120,788$

SCHEDULEOFCONTRIBUTIONS ‐LASTTENYEARS*

SCHEDULEOFPROPORTIONATESHAREOFTHENETOPEBLIABILITY(ASSET)‐LASTTE

NYE

ARS*

CITYOFCANBY,OREGON

SCHEDULEOFPROPORTIONATESHAREOFTHENETPENSION(ASSET)/LIABILITY‐PERS

LASTTENYEARS*

SeenotestoRSI

54



TheamountspresentedforeachfiscalyearwereactuarialdeterminedatDecember31androlledforwardtothe

measurementdate.

*Thisscheduleispresentedtoillustratetherequirementstoshowinformationfor10years.However,untilafull

10‐year trend has been compiled, information is presented only for the years for which th

e r

equired

supplementaryinformationisavailable.

2021 2020 2019 2018 2017 2016 2015 2014

Proportionofthenetpensionliability(asset)

0.0651% 0.0635% 0.0659% 0.0672% 0.0641% 0.0748% 0.0703% 0.0703%

Proportionateshareofthenetpensionliability

(asset)

14.22$ 10.98$ 9.98$ 9.06$ 9.62$ 4.30$ (1.59)$ 3.59$

CoveredPayroll

6.95 6.82 6.08 6.00 6.04 5.85 5.82 5.65

Proportionateshareofthenetpensionliability

(asset)asapercentageofitscoveredpayroll

204.6% 161.0% 164.1% 151.0% 159.3% 73.5% -27.3% 63.5%

Planfiduciarynetpositionasapercentageof

thetotalpensionliability

75.8% 80.2% 82.1% 83.1% 80.5% 91.9% 103.6% 92.0%

2021 2020 2019 2018 2017 2016 2015

Proportionofthenetpensionliability(asset)

0.0192% 0.0193% 0.0184% 0.0198% 0.0218% 0.0253% 0.0223%

Proportionateshareofthenetpensionliability

(asset)

4.19$ 3.34$ 2.79$ 2.67$ 3.27$ 1.45$ (0.51)$

CoveredPayroll

1.63 1.72 1.69 1.72 1.75 1.81 1.59

Proportionateshareofthenetpensionliability

(asset)asapercentageofitscoveredpayroll

257.1% 194.2% 165.1% 155.2% 186.9% 80.1% -32.1%

Planfiduciarynetpositionasapercentageof

thetotalpensionliability

75.8% 80.2% 82.1% 83.1% 80.5% 91.9% 103.6%

CityofCanby

(Dollarsinmillions)

CanbyUtilityBoard

(Dollarsinmillions)

CITYOFCANBY,OREGON

SCHEDULEOFCONTRIBUTIONS‐PERS

LASTTENYEARS*

SeenotestoRSI

55



TheamountspresentedforeachfiscalyearwereactuarialdeterminedatDecember31androlledforwardtothe

measurementdate.

*Thisscheduleispresentedtoillustratetherequirementstoshowinformationfor10years.However,untilafull

10‐year trend has been compiled, information is presented only for the years for which the r

equired

supplementaryinformationisavailable.

2021 2020 2019 2018 2017 2016 2015 2014

Statutorilyrequiredcontribution 1,261,775$ 1,243,554$ 943,757$ 872,666$ 6 52,149$ 746,158$ 456,991$ 558,095$

Contributionsinrelationto thestatutorily

requiredcontribution 1,261,775 1,243,554 943,757 872,666 652,149 746,158 456,991 558,095

Contributiondeficiency(excess)

‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$

CoveredPayroll 7,002,147 6,95 3,971 6,817, 117 6,078,300 5,997,812 6,038,627 5,845,405 5,822,556

Contributionsasape

rcentofco

veredpayroll 18.0% 17.9% 13.8% 14.4% 10.9% 12.4% 7.8% 9.6%

2021 2020 2019 2018 2017 2016 2015

Statutorilyrequiredcontribution 448,205$ 463,247$ 305,600$ 306, 220$ 230,179$ 225,984$ 204,466$

Contributionsinrelationto thestatutorily

requiredcontribution 448, 205 463,247 305,600 306,220 230,179 225,984 204,466

Contributiondeficiency(excess)

‐$ ‐$ ‐$ ‐$ ‐$ ‐$ ‐$

CoveredPayroll 2,325,953 2,31 4,659 1,718, 146 1,692,959 1,719,358 1,747,999 1,810,490

Contributionsasape

centofcoveredpayroll 19.3% 20.0% 17.8% 18.1% 13.4% 12.9% 11.3%

CityofCanby

CanbyUtilityBoard

CITYOFCANBY,OREGON

NOTESTOTHEREQUIREDSUPPLEMENTARYINFORMATION

FortheFiscalYearEndedJune30,2021

56



BudgetaryInformation

Annual budgetsfor all funds areadopted on a basisconsistent withOregon  RevisedStatutes (ORS 294—Local

BudgetLaw).Theprocessunderwhichthebudgetisadoptedisdescribedinthefollowingparagraphs.

Eachspring,theCityAdministratorsubmitsaproposedbudgettotheBudgetCommittee(consistingoftheCity

Councilandanequalnumberofciti

zensoftheCity).TheCityisrequiredtobudgetallfundsexcepttheAgency

Fund.TheCitybudgetseachgovernmentalfundtypeonamodifiedaccrualbasis.Differencesbetweenbudget

basisandtheGAAPfundbasisofaccountinggenerallyariseduetocapitalleasesandinterfundloans.

The Bu

dget Committee conducts public hearings for the purpose of obtaining citizens’ comments, and then

approvesabudgetandsubmitsittotheCityCouncilforfinaladoption.Theapprovedexpendituresforeachfund

maynot be increasedby more than10% by theCity Council withoutreturning to theBudgetCommi

tteefor a

secondapproval.AftertheCounciladoptsthebudgetandcertifiesthetotalofadvaloremtaxestobelevied,no

additionaltaxlevymaybemadeforthatfiscalyear.

TheCityCouncil legallyadoptsthebudgetbyresolutionbeforeJuly1.Theresolutionestablishesappropriations

foreachfundande

penditurescannotlegallyexceedtheseappropriations.Thelevelof controlestablished by

theresolutionforallFundsisatthedepartmentlevel.TheCitybudgetdocumentcontainsmorespecific,detailed

informationforpersonnelservices,materialsandservices,capitaloutlay,andtransfers.Appropriationslapseas 

oftheyear‐

end.

TheCity  Council may change thebudget throughout theyear by transferring appropriations between levelsof

control by adopting appropriation transfers as authorized by Oregon Revised Statutes.Unexpected additional

resourcesmaybeaddedtothebudgetthroughtheuseofasupplementalbudget.Asupplementalbudgetmay

require heari

ngs before the publi

c, and requires publications in newspapers and approval by the City Council.

Expenditureappropriationsmaynotbelegallyover‐expendedexceptinthecaseofgrantreceiptsthatcouldnot

bereasonablyestimatedatthetimethebudgetwasadopted,andfordebtserviceonnewdebtissuedduring

the

budgetyear.Managementmaytransferbudgetamountsbetweenindividuallineitemswithinthelegallyadopted

appropriationlevels,butcannotmakechangestothoselevelsthemselves.DuringthefiscalyearendedJune30,

2021,theCityhadonesupplementalbudgetandoneappropriationtransferresolution.



57



SUPPLEMENTARYINFORMATION

CITYOFCANBY,OREGON

NON‐MAJORSPECIALREVENUEFUNDS

COMBININGBALANCESHEET

June30,2021

58

Transient

RoomTax

Fund

Forfe iture

Fund

Cemetery

Perpetual 

CareFund

Swim

CenterLocal

OptionTax

LevyFund

Library

Fund Total

Cashandcashequivalents 33,257$ 13,050$ 1,120,765$ 1,305,970$ 133,530$ 2,606,572$

Duefromothergovernments ‐ ‐ ‐ 3,207 ‐ 3,207

Accountsreceivable 6,784 ‐ ‐ ‐ 4,922 11,706

Propertytaxesreceivable ‐ ‐ ‐ 24,086 ‐ 24,086

Totalassets 40,041$ 13

050$ 1,120,765$ 1,333,263$ 138,452$ 2,645,571$

LIABILITIES

Accountspayableandothercurrentliabilities ‐$ ‐$ ‐$ 19,077$ 67,681$ 86,758$

DEFERREDINFLOWS

Unavailablerevenue ‐ ‐ ‐ 22,462 ‐ 22,462

Totalliabilitiesanddeferredinflows ‐ ‐ ‐ 41,539 67,681 109,220

FUNDBALANCES

Restrictedfor:

Drugenforcementandequipment ‐ 13,05

 ‐ ‐ ‐ 13,050

Libraryservices ‐ ‐ ‐ ‐ 70,771 70,771

Swimcenter ‐ ‐ ‐ 1,291,724 ‐ 1,291,724

Committed:

Tourismpromotionandenhancement 40,041 ‐ ‐ ‐ ‐ 40,041

Cemeterycare ‐ ‐ 1,120,765 ‐ ‐ 1,120,765

Totalfundbalances 40,041 13,050 1,120,765 1,291,724 70,771 2,536,351

Totalliabilities,deferredinflowsandfundbalances 40,041$ 13,050$ 1,120,765$ 1,333,263$ 138,452$ 2,

45,571$

ASSETS

LIABILITIES,DEFERREDINFLOWSANDFU NDBALANCES

CITYOFCANBY,OREGON

NON‐MAJORSPECIALREVENUEFUNDS

COMBININGSCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

FortheYearEndedJune30,2021

59



Transient

RoomTax

Fund

Forfeiture

Fund

Ce metery

Perpe tual 

CareFund

Swim

CenterLocal

Option Tax

LevyFund

Library

Fund Total

REVENUES:

Propertytaxes ‐$ ‐$ ‐$ 863,271$ ‐$ 863,271$

Intergovernmental ‐ ‐ ‐ ‐ 1,012,388 1,012,388

Chargesforservi ces ‐ ‐ 45,295 24,905 668 70,868

Finesandforfeitures ‐ 3,639 ‐ ‐ ‐ 3,639

Grants&donations ‐ ‐ ‐ ‐ 11

732 11,732

Interest 225 149 8,798 9,465 115 18,752

Transientoccupancy taxes 21,000 ‐ ‐ ‐ ‐ 21,000

Miscellaneous ‐ ‐ ‐ ‐ 553 553

Totalrevenues 21,225 3,788 54,093 897,641 1,025,456 2,002,203

EXPENDITURES:

Publi csaf ety ‐ 541 ‐ ‐ ‐ 541

Cultureandrecreation 7,922 ‐ ‐ 491,261 997,434 1,496,617

Capitaloutlay ‐ 10,890 ‐ 23,507 ‐ 34,397

Totalex penditures 7,922 11,431 ‐ 51

768 997,434 1,531,555

Revenuesover(under)expenditures 13,303 (7,643) 54,093 382,873 28,022 470,648

OTH E R FINANCINGSOURCES(USES):

Transfersin ‐ ‐ 500,000 ‐ 642,687 1,142,687

Transfersout ‐ ‐ (500,000) (119,444) (642,687) (1,262,131)

Totalotherfinancingsources(uses) ‐ ‐ ‐ (119,444) ‐ (119,444)

Netchangesinfundbalances 13 ,303 (7,643) 54,093 263,429 28,022 351,204

FUNDBALANCES,BE

INNING 26,738 20,693 1,066,672 1,028,295 42,749 2,185,147

FUNDBALANCES,ENDING 40,041$ 13,050$ 1,120,765$ 1,291,724$ 70,771$ 2,536,351$

CITYOFCANBY,OREGON

TRANSIENTROOMTAXFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

60



Original Final Actual Variance

REVENUES:

Transientoccupancytaxes 14,000$ 14,000$ 21,000$ 7,000$

Interest 500 500 225 (275)

Totalrevenues 14,500 14,500 21,225 6,725

EXPENDITURES:

Tourismpromotion 18,557 18,557 7,922 10,635

Tourismenhancement 13,130 13,130 ‐ 13,130

Totale xpenditures 31,687 31,687 7,922 23,765

Netchangesinfundbalances (17,187) (17,187) 13,303 (17,040)

FUNDBALANCE,BEGINNING 17,187 17,187 26,738 9,551

FUNDBALANCE,ENDING ‐$ ‐$ 40,

041$ (7,489)$

Budget

CITYOFCANBY,OREGON

FORFEITUREFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

61

Original Final Actual Variance

REVENUES:

Finesandforfeitures ‐$ ‐$ 3,639$ 3,639$

Interest 425 425 149 (276)

Totalrevenues 4 25 425 3,788 3,363

EXPENDITURES:

Poli ce 27,252 27,252 11,431 15,821

Netchangesinfundbalance s ( 26,827) (26,827) (7,643) 19,184

FUNDBALANCE,BEGINNING 26,827 26,827 20,693 (6,134)

FUNDBALANCE,ENDING ‐$ ‐$ 13,050$ 13,050$

Budget

CITYOFCANBY,OREGON

CEMETERYPERPETUALCAREFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

62

Original Fi nal A ctual  Variance

REVENUES:

Chargesforservices 20,000$ 20,000$ 45,295$ 25,295$

Interest 18,000 18,000 8,798 (9,202)

Totalrevenues 38,000 38,000 54,093 16,093

OT HERFINANCINGSOURCES(USES):

Transfersin 500,000 500,000 500,000 ‐

Transfersout (500,000) (500,000) (500,000) ‐

Totalotherf inancingsources(use s) ‐ ‐ ‐ ‐

Netchangesinfundbalance 38,000 38,000 54,093 16,093

FUNDBALANCE,BEG INNING 1,052,840 1,052,840 1,

066,

672 13,832

FUNDBALANCE,ENDING 1,090,840$ 1,090,840$ 1,120,765$ 29,925$

Budget

CITYOFCANBY,OREGON

SWIMCENTERLOCALOPTIONTAXLEVYFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

63

Origi nal Final A ctual  Vari ance

REVENUES:

Prope rtytaxes 845,000$ 845,000$ 863,271$ 18,271$

Chargesforservices 200,000 200,000 24,905 (175,095)

Interest ‐ ‐ 9,465 9,465

Totalrevenues 1,045,000 1,045,000 897,641 (147,359)

EXPENDITURES:

SwimCenter 777,327 777,327 514,768 262,559

Contingency 39,379 39,379 ‐ 39,379

Totalexpenditures 816,706 816,706 514,768 301,938

Revenuesover(under)expenditures 228,294 228,294 382,873 154,579

OTHERFINANCINGSOURCES(USES):

Transfersout (119,444) (119,444) (

19,444) ‐

Netchangesinfundbalance 108,850 108,850 263,429 154,579

FUNDBALANCE,BEGINNING 946,122 946,122 1,028,295 82,173

FUNDBALANCE,ENDING 1,054,972$ 1,054,972$ 1,291,724$ 236,752$

Budget

CITYOFCANBY,OREGON

LIBRARYFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

64

Ori ginal Fi nal Actual Variance

REVENUES:

Intergovernmental 972,880$ 972,880$ 1,012,388$ 39,508$

Chargesforservices 30,000 30,000 668 (29,332)

Grants&donations 29,900 29,900 11,732 (18,168)

Miscellaneous 14,838 14,838 553 (14,285)

Interest 1,200 1,200 115 (1,085)

Totalrevenues 1,048,818 1,048,818 1,025,456 (23,362)

EXPENDITURES:

Libraryservices 1,033,604 1,033,604 997,434 36,170

Contingency 17,000 17,000 ‐ 17,000

Totalexpenditures 1,050,604 1,050,604 997,434 53,170

Revenuesover( under)e

xpenditures (1,786) (

1,786) 28,022 29,808

OTHERFINANCINGSOURCES(USES):

Transfersin 642,687 642,687 642,687 ‐

Pass‐thrurevenue 162 162 209 47

Transfersout (642,687) (642,687) (642,687) ‐

Pass‐thrupayments (15,000) (15,000) (209) 14,791

Totalothe rfinancingsources(uses) (14,838) (14,838) ‐ 14,838

Netchangesinfundbalance (16,624) (16,624) 28,022 44,646

FUNDBALANCE,BEGINNING 16,624 16,624 42,749 26,

125

FUNDBA

LANCE,ENDING ‐$ ‐$ 70,771$ 70,771$

Budget

CITYOFCANBY,OREGON

URBANRENEWALAGENCY–DEBTSERVICEFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

65

Original Final Actual Variance

REVENUES:

Propertytaxes 3,983,000$ 3,983,000$ 4,215, 618$ 232,618$

Specialassessments 29,429 29,429 18,644 (10,785)

Interest 60,000 60,000 21,648 (38,352)

Miscellaneous 41,0 00 41,000 67,398 26,398

Totalrevenues 4,113,429 4,113, 429 4,323,308 209,879

EXPENDITURES:

Debtservice 3,623,620 3,623,620 2,923,619 700, 001

Bondissuancecosts ‐ ‐ 145,763 (145,763)

Totalexpenditures 3,623,620 3,623,620 3,069,382 554,238

Revenuesover(under)expenditures 489,809 489,809 1, 253,926 (344,359)

OTHERF

INANCINGSO

URCES(USES):

Proceedsfromsaleofbonds ‐ ‐ 18,435, 000 18,435,000

Bondpremiums ‐ ‐ 995,165 995,165

Bondrefundingescrow ‐ ‐ (19,284,402) (19,284,402)

Transfersout (1,888, 810) ( 1,888,810) (748,524) 1, 140,286

Totalotherfinancingsources(uses) (1,888,810) (1, 888,810) (602, 761) 1, 286,049

Netchangeinfundbalance (1,399,001) (1,399,001) 651,165 941, 690

FUNDBALANCE,BEGI NNING 2,255,145 2,255,145 2,232,524 (22,621)

FUNDBA

LANCE,END

ING 856,144$ 856,144$ 2,883,689$ 919,069$

Budget

CITYOFCANBY,OREGON

SEWERCOMBINEDFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

66



Original Final Actual Vari ance

REVENUES:

Chargesforservices 4,388,000$ 4,388,000$ 4,436,990$ 48,990$

Interest 160,000 160,000 59,584 (100,416)

Miscellaneous ‐ ‐ 9,025 9,025

Totalrevenues 4,548,000 4,548,000 4,505,599 (42,401)

EXPENDITURES:

WastewaterTreatment 2,673,370 2,976,370 2,840,194 136,176

Colle ctions 1,669,901 1,869,901 1,796,375 73,526

Stormwater 249,594 249,594 232,918 16,676

Unallocated

Pe rsonnel services 34,917 34,917 34,034 883

Materials&services 350,200 350,200 351,472 (1,272)

Continge ncy 200,000 ‐ ‐ ‐

Totalexpenditures 5,177,981

 5,

480,981 5,254,992 225,989

Revenuesove r(under)expenditures (629,981) (932,981) (749,393) 183,588

OTHERFINANCINGSOURCES(USES):

Transfersin 935,00

 935,00

 1,052,26

 117,26



Transfersout (552,786) (552,786) (253,786) 299,000

Totalotherf inancingsources(uses) 382,214 382,214 798,478 416,264

Netchangeinfundbalance (247,767) (550,767) 49,085 599,852

FUNDBALANCE,BEGINNINGBUDGETARYBASIS 7,707,108 7,707,108 7,832,194 125,086

FUNDBALANCE,ENDINGBUDGETARYBASIS 7,459,340$ 7,156,340$ 7,881,278$ 724,938$

Budget

Changeinfundbalance‐budgetarybasis 49,085$ Fundbalance‐budgeta rybasis 7,881,278$

Exp enditurescapitalized 3,079,189 Capitalassetsnet 17,673,977

Depreciatione xpense (442, 946) Deferredinflowsewercharges 295,477

ChangeinDeferredRevenue‐Se w erCharge s 23,423 OPEBLiability (56,487)

ChangeinOPEBLiability (14,908) DeferredinflowrelatedtoOPEB (13,837)

ChangeindeferredinflowrelatedtoOPEB 3,588 Deferredoutflow relatedtoO

PEB 15,

815

Changeindeferredoutflow relatedtoOPEB 11,549 Netpens ionliability (1,381,850)

Changeinpensionliability(asset) (322,358) Deferredinflowrelatedtope nsions (37,693)

Changeindeferredinflowrelatedtopensions 56, 388 Deferredoutflo wrelatedtopen sions 470,520

Changeindeferredoutflow relatedtopensions 73,356 Compensatedabsences (114,719)

Changeincompensatedabsences (19,638) Ne tposi tion‐GAAPbasis  24,732,482$

ngeinnetpositi on ‐GAAPbasis 2,496,728$

CITYOFCANBY,OREGON

INTERNALSERVICEFUNDS

COMBININGBALANCESHEET

June30,2021

67



Facilities

Fund

Fleet

Se rvices

Fund

Te chnical

Services

Fund

TotalInternal

Se rvices

Funds

Cashandcashequivalents 56,220$ 41,883$ 118,629$ 216,732$

Accountsreceivable,net ‐ 434 ‐ 434

Totalassets 56,220 42,317 118,629 217,166

DEFERREDOUTFLOWOFRESOURCES:

Deferredoutflows relatedtopensions 44,025 97,539 43,404 184,968

Deferredoutflows relatedtoOPEB 686 1,449 764 2,899

Totalde ferredout

flowofr

esources 44,711 98,988 44,168 187,867

Totalassetsanddeferredoutflows 100,931$ 141,305$ 162,797$ 405,033$

Currentliabilities

Accountspayableandothe rcurrentliabilities 17,197$ 34,086$ 53,075$ 104,358$

Currentportionof long‐termobligations 13,058 4,280 902 18,240

Totalcurrentliabilities 30,255 38,366 53,977 122,598

Noncurrentliabilities

NetOPEBliability 5,255 11,427 5,444 2

2,126

Netpensionliability 128,772 281,499 131,566 541,837

Noncurrentportionoflong‐termobligations 4, 353 1,426 300 6,079

Totalnoncurrentliabilities 138,380 294,352 137,310 570,042

Totalliabilities 168,635 332,718 191,287 692,640

DEFERREDINFLOWSOFRESOUR CE S:

Deferredinfl owsrelatedtope nsions 3,832 10,701 1,093 15,626

Deferredinfl owsrelatedtoOPEB 1,532 3,527 1,346 6,405

Totalde ferredinflowsofr

esources 5,

364 14,228 2,439 22,031

Totalliabilitiesanddeferredinflows 173,999 346,946 193,726 714,671

NETPOSITION:

Unrestricted (73,068) (205,641) (30,929) (309,638)

Totalliabilities,deferredinflowsandne tposition 100,931$ 141,305$ 162,797$ 4 05,033$

ASSETS:

LIABILITIES,DEFERREDINF LOWSANDNETPOSITION:

CITYOFCANBY,OREGON

INTERNALSERVICEFUNDS

COMBININGSCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDNETPOSITION

ForYearEndedJune30,2021

68

Facilities

Fund

Fleet

Se rvi ces

Fund

Technical

Services

Fund

TotalInternal 

Services

Funds

OPERAT INGREVENUES:

Chargesforservices 308,755$ 542,702$ 373,575$ 1,225,032$

Miscellaneous ‐ 1,223 ‐ 1,223

Totalrevenues 308,755 543,925 373,575 1,226,255

OPERAT INGEXPENSES:

Personnel services 142,875 269,241 135,570 547,686

Materialsandservices 189,090 349,940 224,670 763,700

Capitaloutlay ‐ ‐ 58,167 58,167

Totaloperatingexpense 331,965 619,181 418,407 1,369,553

Operatingincome(loss) (23,210) (7

5,256) (44,832) (143,298)

NON‐OPER AT INGINCOME(EXPENSE):

Interestincome 376 989 695 2,060

Netchangeinnetposition (22,834) (74,267) (44,137) (141,238)

NETPOSITION,BEGINNING (50,234) (131,374) 13,208 (168,400)

NETPOSITION,END ING (73,068)$ (205,641)$ (30,929)$ (309,638)$

CITYOFCANBY,OREGON

INTERNALSERVICEFUNDS

COMBININGSCHEDULEOFCASHFLOWS

FortheYearEndedJune30,2021

69

Facilities 

Fund

Fleet

Se rvices

Fund

Technical

Se rvices

Fund

TotalInte rnal

Se rviceFunds

CASHFLOWSFROMOPER ATINGACTIVITIES:

Cashreceivedfromoutsi decustomers $2,277$2,670$‐ $4,947

Cashreceivedfrominternalcustomers 307,233 540,999 373,575 1,221,807

Cashpaidtoemployeesforsal ariesandbene fits (119,360) (234,980) (114,838) (469,178)

Cashpaidtosuppliersan

dot

he rs (185,083) (344,031) (245,583) (774,697)

Netcashfromoperatingactivities 5,067 (35,342) 13,154 (17,121)

CASHFLOWSFROMINVESTINGACTIVITIES:

Interestreceived 376 989 695 2,060

Netincrease(decrease)incashandcashequivalents 5,443 (34,353) 13,849 (15,061)

CASHANDCASHEQUIVALENTS,BEGINNING 50,777 76,236 104,780 231,793

CASHANDCASHEQUIVALENTS,ENDING 56,220$ 41,883$ 118,629$ 216,732$

RECONCILIATIONOFOP

ERATINGINCO

ME(LOSS)TO

NETCASHPROVIDEDBYOPERATINGACTIVITIES:

Ope rati ngincome(loss) (23,210)$ (75,256)$ (44,832)$ (143,298)$

Adjustments:

Decrease(i ncre ase)in:

Accountsreceivable 755 (256) ‐ 499

Incre ase(decrease)in:

Accountspayableandaccruedexpenses 4,007 5,909 37,254 47,170

Accruedcompensatedabsences 5,349 109 (4,565) 893

OPEBobligations 937 1,762 1,304 4,003

Pensiono

bligations 17,

229 32,390 23,993 73,612

Netcashfromoperatingactivities 5,067$ (35,342)$ 13,154$ (17,121)$

CITYOFCANBY,OREGON

FACILITIESFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

70



Original Final Actual Variance

REVENUES:

Chargesforservices 312,233$ 312,233$ 308 ,755$ (3,478)$

Miscellaneous 1,200 1,200 376 (824)

Interest ‐ ‐ ‐ ‐

Totalrevenues 313,433 313,433 309,131 (4,302)

EXPENDITURES:

Facilities 316,231 331,231 308,450 22,781

Contingency 28,188 13,188 ‐ 13,188

Totalexpenditures 344,419 344,419 308,450 35,969

Revenuesover(under)expenditures (30,986) (30,986) 681 31,667

FUNDBALANCE,BEGINNINGBUDGETARYBASIS 30,986 30,986 38,343 7,357

FUNDBA

LANCE,EN

DINGBUDGETARYBASIS ‐$ ‐$ 39,024$ 39,024$

Changeinfundbalance‐budgetarybasis 681$

Changeincompensatedabsences (5,349)

ChangeinaccruedOPEBliabili ty (1,333)

ChangeindeferredinflowrelatedtoOPEB 112

ChangeindeferredoutflowrelatedtoOPEB 284

Changeinpen s ionliabili ty (28,832)

Changeindeferredinflowrelatedtopensions 5,042

ngeindef erredoutflowrelatedtopensions 6,561

Changeinnetposi tion‐GAAPbasis (22,834)$

Fundbalance‐budgetarybasis 39,024$

Compen satedabsences (17,411)

OPEBliability (5,255)

DeferredinflowrelatedtoOPEB (1,532)

DeferredoutflowrelatedtoOPEB 686

Netpensionliability (128,772)

Deferredinflowrelatedtope nsions (3,832)

Deferredoutflowrelatedtopensions 44,025

Netposition‐GAAPbasis (73,068)$

get

CITYOFCANBY,OREGON

FLEETSERVICESFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

71



Original Final Actual Variance

REVENUES:

Chargesforservices 768,696$ 768,696$ 542,702$ (225,994)$

Interest 250 250 989 739

Miscellaneous 300 300 1,223 923

Totalrevenues 769,246 769,246 544,914 (224,332)

EXPENDITURES:

Fl eetServices 746,391 746,391 584,920 161,471

Contingency 39,594 39,594 ‐ 39,594

Totale xpenditures 785,985 785,985 584,920 201,065

Revenuesover(under)expenditures (16,739) (16,739) (40,006) (23,267)

FUNDBALANCE,BEGINNINGBUDGETARYBASIS 16,739 16,739 48,237 31,49

8

FUNDBALANCE,ENDINGBUDGETARYBASIS ‐$ ‐$ 8,231$ 8,231$

Changeinfundbalance‐budgetarybasis (40,006)$

Changeincompensatedabsences (10 9)

ChangeinaccruedOPEBliability (2,507)

ChangeindeferredinflowrelatedtoOPEB 211

ChangeindeferredoutflowrelatedtoOPEB 534

Changeinpens ionliability (54,208)

Changeindeferredinflowrelatedtope

nsi ons 9

,482

Changeindeferredoutflowrelatedtopensions 12,336

Changeinnetposition‐GAAPbasis (74,267)$

Fundbalance‐budgetarybasis 8,231$

Compensatedabsences (5,706)

OPEBliability (11,427)

DeferredinflowrelatedtoOPEB (3,527)

Deferredoutflow relatedtoOPEB 1, 449

Netpensionliability (281,499)

Deferredinflowrelatedtopensions (10,701)

Deferredoutflow relatedtopensions 97,539

Netposition‐GAAPbasis (

05,641)$

Budget

CITYOFCANBY,OREGON

TECHNICALSERVICESFUND

SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE

BUDGETANDACTUAL

FortheYearEndedJune30,2021

72

Original Final A ctual Variance

REVENUES:

Chargesforservices 373,575$ 373,575$ 373,575$‐$

Interest 2,000 2,000 695 (1,305)

Totalre v enues 375,575 375,575 374,270 (1,305)

EXPENDITURES:

Techservices 434,669 434,669 397,675 36,994

Continge ncy ‐ ‐ ‐ ‐

Totale xpenditures 434,669 434,669 397,675 36,994

Revenuesover(under)expenditures (59,094) (59,094) (23,405) 35,689

FUNDBALANCE,BEGINNINGBUDGETARYBASIS 80,245 80,245 88,959 8,714

FUNDBALANCE,ENDINGBUDGETARYBAS

IS 21,151$ 21,151$ 65,554$ 44,403$

Changeinfundbalance‐budgetarybasis (23,405)$

Changeincompensatedabsences 4,565

Changeinaccr uedOPEBliability (1,857)

ChangeindeferredinflowrelatedtoOPEB 157

ChangeindeferredoutflowrelatedtoOPEB 396

Changeinpensionliability (40,155)

Changeindeferredinflowrelatedtopensi ons 7, 024

Changeindeferredout

l owrelatedtope nsions 9, 138

Changeinnetposition‐GAAPbasis (44,137)$

Fundbalance‐budgetarybasis 65,554$

Compensate dabsences (1,202)

OPEBliability (5,444)

DeferredinflowrelatedtoOPEB (1,346)

Deferredoutflow relatedtoOPEB 764

Netpensionliability (131,566)

Deferredinflowrelatedtope nsions (1,093)

Deferredoutflow relatedtope nsions 43, 404

Netposition‐GAAPbasis (30,929)$

Budget

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73

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STATISTICALSECTION

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74

IntroductiontotheStatisticalSection

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Thissectionprovidesfurtherdetailsasacontextforbetterunderstandingthefinancial statements. 

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Contents



FinancialTrends

Theseschedulescontaintrendinformationtohelpthereaderunderstandhowfinancialperformancehas

changedovertime…………………………………………….Page75

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RevenueCapacity

 TheseschedulescontaininformationtohelpthereaderassesstheCity’smostsi

gnificantloca

lrevenue

source,propertytax……………………………………………….Page80

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DebtCapacity

 TheseschedulespresentinformationtohelpthereaderassesstheaffordabilityoftheCity’scurrentlevelof

outstandingdebtandtheCity’sabilitytoissueadditionaldebtinthe

future……………………………………………………………………………Page85



DemographicandEconomicInformation

 Theseschedulesofferdemographican

deconomicindic

atorstohelpthereaderunderstandthe

environmentwithinwhichtheCity’sfinancialactivitiestakeplace………..Page90



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……

………………………………………………………..Page92

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Sources:Theinformationintheseschedulesisderivedfromtheannualcomprehensivefinancialreportsor

annualfinancialstatementsfortherelevantyear,unlessotherwisenoted.TheCityimplemented

GASBStatement54infiscalyear2011,GASBStatements62and63infiscalyear2013,GASB

Statements65and66in

fiscalyear2014,GASBStatement68in2015,andGASBStatement72in2016.

CITYOFCANBY,OREGON

NETPOSITIONBYCOMPONENT

LastTenFiscalYears

75

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Governmentalactivities

Netinvestmentincapitalassets 90,930,273$ 88,969,778$ 85,535,781$ 82,550,388$ 79,136, 218$ 77,325,494$ 80,658,590$ 78,919,522$ 79,788,252$ 80,195, 011$

Restricted 6,012,709 14, 954,045 13,778,448 13,083,354 7,406,296 9,182, 546 9,730,454 12,694,571 13,334,765 15,681,220

Unrestricted 1,981,102 (6,317,863) (4,918,551) (3,971,914) 2,663,018 1,434,772 1,808,347 1,364,949 1,285,779 3,069 ,153

Totalgovernmentalactivitiesnetposition 98,924,084$ 97,605,960$ 94,395,678$ 91,661,828$ 8

205,532$ 87,942,81 2$ 92,197,391$ 92,979,042$ 94, 408,7 96$ 98,945,384$

Business‐typeactivities

Netinvestmentincapitalassets 8,683,592$ 8,656, 986$ 7,439, 593$ 9,439, 727$ 10,934, 463$ 13,043,751$ 14,484,585$ 14,588,314$ 15,037, 734$ 17, 673,977$

Restrictedfor:Debtservice 250,500 302,285 302,285 302,285 297 ,500 299,072 ‐ ‐ ‐ ‐

Unrestricted 2,567,270 2,935, 973 4,900,576 4,349,954 4,097 ,766 3,091,158 3,654,552 5,712,252 7,1 98,019 7,

058

,505

Totalbusiness‐typeactivitiesnetposition 11,501,362$ 11,895,2 44$ 12,642,454$ 14,091,966$ 15,329,729$ 16,433,98 1$ 18,139,137$ 20,300,566$ 22,235,753$ 24,732,482$

Primarygovernment

Netinvestmentincapitalassets 99,613,865$ 97,626,764$ 92,975,374$ 91,990,115$ 90,070, 681$ 90,369,245$ 95,143,175$ 93,507,836$ 94,825,986$ 97,868, 988$

Restricted 6,263,209 15, 256,330 14,080,733 13,385,639 7,703,796 9,481, 618 9,730,454 12,694,571 13,334,765 1

681,220

Unrestricted 4,548,372 (3,381,890) (17,975) 378,040 6,760,784 4,525,930 5,462,899 7,077,201 8,483,798 10,127,658

Totalprimarygovernmentnetposition 110,425,446$ 109,501,204$ 107,038,132$ 105,753, 794$ 104,535, 261$ 104,376, 793$ 110,336,528$ 113,279,608$ 116,644,5 49$ 123,677, 866$

CITYOFCANBY,OREGON

CHANGESINNETPOSITION

LastTenFiscalYears

76

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Expenses 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Governmentalactivities:

Generalgovernment 3,284,765$ 4,774,376$ 4,414,531$ 3,029,144$ 3,956,415$ 5,073,134$ 6,302,251$ 5,790,769$

4,907,284$ 5,700,556$

Publicsafety 4,516,634 4,488,123 5,193,708 4,161,977 6, 492, 885 5,566,041 5,559,605 5,966,589

6,313,592 6,008,163

Highwaysandstreets 3,942,233 4,007,187 5,429,844 4, 544,489 4,940,361 4,982,116 5,282,100 5,326,770

6,200,318 4,497,361

Transportation 1,134,285 1,101,690 1,629,497 1,603,233 1,791,132 2, 041,545 1,816,255 1,930,000

1,970,063 1,839,235

Cultureandrecreation 2,108, 559 1,927,998 1,998,399 1, 721, 445 2,513,848 2, 306, 539 2,549,589 2,902,109

2,673,890 2,483,163

Communitydevelopment 644,529 731,776 964,019 843,014 1,084,698 994,297 849,462 799,488

893,524 878,645

Interestonlong‐termdeb t 745,573 1,077,103 1,166,925 1,135,641 1,100,784 1, 069, 354 1,050,621 1,009,074

972,294 905,915

Totalgovernmentalactivitiesexpenses 16,376,578 18,108, 253 20,7 96,923 17,038, 943 21,880,123 22,033,026 23,409,883 23,724, 799 23,930,965 22, 313,038

Business‐typeactivities:

SewerOperations 1,807,247 2,234,837 2,312,854 1,698,737 2,556,509 2, 428, 876 2,288,174 2,499,401 2, 586, 158 2,830,771

Totalbusiness‐typeactivitiesexpenses 1, 807, 247 2,234,837 2, 312,854 1,698, 737 2, 556,509 2,428, 876 2,288, 174 2,499, 401 2,586,158 2,830,771

Totalprimarygovernmentexpenses 18,183,825$ 20,343,090$ 23,109 ,777$ 18, 737, 680$ 24,436,632$ 24

461,902$ 25,698,057$ 26,224,200$ 26,517,123$ 25, 143, 809$

ProgramRevenues

Governmentalactivities:

Chargesforservices:

Generalgovernment 535,139$ 356,315$ 2,026,761$ 1,594,975$ 1,342,053$ 1,935,370$ 1,616,403$ 2,033,138$ 2,269,989$

2,333,091$

Publicsafety 506,205 464,128 477,488 642,941 546,743 178,770 70,455 41,770 48,7 54

36,327

Highwaysandstreets 531,122 532,962 549,222 590,344 471,186 734,798 633,105 798,136 1,342,406

1,444,201

Transportation 1,005 123,271 128,437 128,973 69,974 59,901 55,942 65, 424 53,880

300

Cultureandrecreation 213,339 255,577 238,273 260,106 229,920 200,671 452,430 656,134 562,071

500,901

Communitydevelopment ‐ ‐ ‐ ‐ 242,879 272,343 240,187 281,423 251,329

422,771

Operatinggrantsandcontributions 2,456,959 2,460,668 2,016,611 1,856,805 2,701,590 3,057,885 3,541,170 3,181,745 4, 190, 555 3,955,933

Capitalgrantsandcon tributions 534,089 1,966,349 1,256,840 499,747 2,527,420 2,778, 858 1,813,959 3,702,312 2,261,717 3,39 7,960

Totalgovernmentalactivitiesprogramrevenues 4,777,858 6,159,270 6,693,632 5,573,891 8,131,765 9,218,596 8,423,651 10,760,082 10,980,701 12,091,484

Business‐typeactivities:

Chargesforservices:

SewerOperations 3,230,157 3,417,449 3,702,088 3,974,213 3,920,046 3, 96

4,451 4,130,067 4,415,604 4,322,371 4,460,413

Capitalgrantsandcontributions ‐ ‐ ‐ ‐ 283,985 (7,601) ‐ ‐ 74,6 34 ‐

Totalbusiness‐typeactivitiesprogramrevenues 3,230, 157 3, 417,449 3,702,088 3,974,213 4,204,031 3, 956, 850 4,130,067 4,415,604 4,397,005 4,460,413

Totalprimarygovernmentprogramrevenues 8,008,015$ 9,576,719$ 10,395,720$ 9,548,104$ 12,335,796$ 13,175,446$ 12,553,718$ 15, 175,686$ 15,377,706$ 16,551, 897$

CITYOFCANBY,OREGON

CHANGESINNETPOSITION–(Continued)

LastTenFiscalYears

77



2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Net(expense)/revenue

Governmentalactivities (11,598,720)$ (11,948,983)$ (14, 103,291)$ (11,465, 052)$ (13, 748,358)$ (12,814, 430)$ (14,986, 232)$ (12,964, 717)$ (12,950,264)$ (10,221,554)$

Business‐typeactivities 1,419,245 1, 182,612 1,389,234 2,275,476 1,647,522 1, 527, 974 1,841,893 1,916,203 1,810,847 1,629,642

Totalprimarygovernmentnetexpense (10,179,475)$ (10,766,371)$ (12,714, 057)$ (9,189,576)$ (12,100,836)$ (11,286,456)$ (13,144, 339)$ (11,048,514)$ (11,139, 417)$ (8,591,912)$

GeneralRevenuesandOt

herCh

angesinNetPosition

Governmentalactivities:

Taxes

Propertytaxes 6,150,855$ 6,498,735$ 6,889,702$ 7,096,541$ 7,448,765$ 7,684,963$ 8,343,809$ 8,980,719$ 9,835,249$ 10,625,478$

Franchise 463,062 459,100 442,498 479,348 452,204 1,243,135 1,300,972 1,626,766 1, 635,603 1,672,933

Unrestrictedintergovernmentalrevenues 2,001,883 1,728,834 1,828,117 1,903,952 1,184,433 467,965 654,701 982,634 599,236 1,045,263

Transientroomtaxes ‐ ‐ ‐ ‐ ‐



 ‐ ‐ 23,111 21,132 21, 000

Transittax 946,398 1,006,388 1,054,412 1,201,314 1,284,333 1, 358, 729 1,424,664 1,520,524 1,569,157 1,790,583

Interestandinvestmentearnings 110,052 87,778 97,346 85, 666 183,483 159,906 284,336 479,505 481,307 195,651

OtherRevenues 86,428 27,487 92,934 103,059 161,506 138,771 213,418 240,579 198,290 205,71 2

Gainonsaleofcapitalassets ‐ ‐ ‐ (28,935) ‐ ‐ ‐ ‐





Transf ersin(out)/Specialpm ts 294,583 822,537 488,000 513,281 487,698 498,241 1,298,680 (107,470) 40,044 (798,478)

Totalgovernmentalactivities 10,053,261 10,630,859 10,893,009 11,354,226 11,202,422 11,551, 710 13,520,580 13,746,368 14,380,018 14,758,142

Business‐typeactivities:

Interestandinvestmentearnings 11,753 13,888 20,264 26,789 32, 007 52,552 64,876 131,564 146,204 59,584

Otherrevenues 7,720 19,919 50,489 58,460 45, 482 22,417 43,232 6,192 18,180 9,

025

Gainonsaleofcapitalassets ‐ ‐ (224,777) 6,809 ‐ ‐ ‐ ‐ ‐ ‐

Transf ersin(out) ( 294, 583) ( 822, 537) (488,000) (513,281) ( 487, 698) (498,241) (129,980) 107,470 (40,044) 798,478

Totalbusiness‐typeactivities (275,110) ( 788,730) (642,024) (421, 223) (410,209) (423,272) (21,872) 245,226 124,340 867,087

Totalprimarygovernment 9,778,151$ 9,842,129$ 10,250,985$ 10,933,003$ 10,792,213$ 11,128,438$ 13, 498, 708$

 13,

991,594$ 14,504,358$ 15,625,229$

ChangeinNetPosition

Governmentalactivities (1,545,459)$ (1,318,124)$ (3,210,282)$ (110, 826)$ (2,545, 936)$ (1,262,720)$ ( 1, 465,652)$ 781,651$ 1,429,754$ 4,536,588$

Business‐typeactivities 1,144,135 393,882 747,210 1,854,253 1,237,313 1,104,702 1,820,021 2, 161, 429 1,935,187 2,496,729

Totalprimarygovernment (401,324)$ ( 924, 242)$ (2,463,072)$ 1,743,427$ (1,308,623)$ (158,018)$ 354,369$ 2,943,080$ 3,36

4,941$ 7,033,317$

CITYOFCANBY,OREGON

FUNDBALANCEOFGOVERNMENTALFUNDS

LastTenFiscalYears

78



2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Generalfund

Nonspendable ‐$ ‐$ ‐$ 2,746$ 485$ ‐$ ‐$ ‐$ ‐$ ‐$

Restricted ‐ ‐ ‐ 21,321 18,445 37,010 44,800 70,908 102,991 123,972

Committed ‐ ‐ 306,150 237,896 398,780 226,829 395,791 507,688 319,434 314,372

Assigned 637,074 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Unassigned 1,609,373 1,279,941 928,620 1,140,672 1,514,195 2,164,971 2,668,345 2,663,600 2,902, 006 3,437,201

Totalgeneralf

und 2

,246,447$ 1,279,941$ 1,234,770$ 1, 402,635$ 1, 931,905$ 2, 428,810$ 3,108, 936$ 3,242,196$ 3,324, 431$ 3,875,545$

Allothergovernmentalfunds

Nonspendable ‐$ ‐$ ‐$ 1, 000,378$ 1, 200,000$ ‐$ ‐$ ‐$ ‐$ ‐$

Restricted 6,012,709 14,954,045 13,778,448 12,085,701 7,387, 850 9,145, 536 9,685, 654 12,623,663 13, 231,774 15,557,248

Committed 25,783 2,209,306 1,344, 744 2,128, 337 2,902,303 4,087,650 4,657, 385 5,195, 992 5,622, 570 8,539,870

ssig

ned 2,406,976 840,599 859,582 876,116 896,556 ‐ ‐ ‐ ‐ ‐

Unassigned (38,867) ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

Totalothergovernmentalfunds 8,406,601$ 18 ,003,950$ 15,982,774$ 16,090,532$ 12,386,709$ 13,233,186$ 14,343,039$ 17,819,655$ 18,854,344$ 24,097,118$

CITYOFCANBY,OREGON

CHANGESINFUNDBALANCESOFGOVERNMENTALFUNDS

LastTenFiscalYears

79



2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Revenues

Taxes 7, 122,889$ 7,551, 489$ 8,008,525$ 8,31 5,144$ 8,867,775$ 9,121,767$ 9,799,828$ 10,860,401$ 11,386,324$ 12,424,744$

Licensesandpermits 309,404 170,976 164,72 1 150,619 205,535 142,649 357, 637 189,023 142,274 184, 664

Intergovernmental 3,489,998 2,863,296 2,96 7,637 3,237,136 3,208,509 3,09 5,661 3,542, 942 3,951,262 3,203,257 4,213,545

Franchise 463,062 459,100 442,498 479,348 452,204 1,243,135 1,300 ,972 1,626,766 1,635,603 1,672,933

Chargesfo rservices 922

,288 996,993 1,378,850 1,087, 871 1,188,693 1,176,563 1,141,639 1,662,967 2,020,037 2,033,490

Fines&forfeitures 506,205 464,128 477,488 642,941 493,364 510,921 596,192 641, 686 554,068 497,323

Investmentearnings 110,052 83,632 93,485 83,141 180,498 153,706 277,126 472,285 477,684 193,0 06

Specialassessments 48,913 66,641 68,288 58,524 54,995 48,381 58,019 38,218 100,222 18,6 44

Grants&donations 1,153,253 3,019,1 71 1,664,156 738,926 1,240,165 901,

534 658,579 956,9 71 1,175,500 1,590,124

Systemdevelopmentcharges 262,552 207,172 296,674 284,442 1,455,036 2,231,407 1,203,280 2,867,424 1,444,082 2,586,859

Miscellaneous 85,113 25,024 93,421 95,114 410,449 251,183 1,363 ,699 308,151 921, 280 977,347

Totalrevenues 14,473 ,729 15,907,6 22 15,655,743 15,173,206 17,757,224 18,876,907 20,299,913 23,575,154 23, 060,331 26,392,679

Expenditures

Generalgovernment 2,903,077 2,726,692 2,219,798 1,628,20 4 1,586,670 2,06 5,997 3,581, 881 3,993,003 4,113,465 3,041,630

Pu blics

afety 4,

088,104 4,427, 707 5,14 8,129 5,118,965 5,287,909 5,03 0,528 5,048,438 5,337,997 5,724,415 5,793,078

Highwaysandstreets 525,337 560,865 831,18 3 834,575 982,630 907, 434 854,844 944,520 1,76 0,478 1,082,8 54

Transportation 919,224 992,595 1,423,173 1,369,788 1,476,637 1,606,223 1,503,511 1,663,744 1,762,231 2,029,451

Communitydevelopment 549,763 673,417 388,909 764,859 833,806 800,678 779,406 2,465,779 2,457, 687 2,368,059

Cultureandrecreation 1,809,357 1,752, 753 1,825,566 1,843,481 1,

93,309 2,05 7,648 2,075, 540 774,134 883,171 857,306

Capitaloutlay 10,948,814 6,534,688 5,625,102 2,012,940 7,608,149 3,642,437 1,487,103 2,495,868 3,353,127 1,704,315

Debtservice

Principal 681,788 2,937,007 758,734 836,144 878,502 949,686 1,056,606 1,1 62,635 952,095 1,984,387

Interest 741,981 1, 059,487 1,17 3,847 1,138,076 1,107,904 1,07 6,980 1,057,074 1,020,128 976,782 939,2 32

Totalexpenditures 23,167,445 21, 665,211 19,394,441 15,547,032 21,655,516 18,137,611 17,444,403 19,857,808 21,983 ,451 19,800,312

Excessofre

venuesov

er(under)expendit

(8,693,716) (5,757,589) (3,738,698) (373,826) (3,898,292) 739,296 2,855,510 3,7 17,346 1,076, 880 6,592,367

Otherfinancingsources(uses)

Transfersin 4,365,052 6,004,690 4,103,226 2,047,817 2,850,371 3,454,589 1, 142,852 2,472,1 40 5,272,640 3,324,545

Transfersout/Specialpaymen ts (4,353,883) (6,244,610) (3,520,420) (1,534,536) (2,359,172) (2,956,348) (1,044,172) (2,579,610) (5,232,596) (4,123,025)

Issuanceofcapitalleases 4, 260 85,713 91,892 136,168 142,900 105,844 35,789 ‐ ‐ ‐

Issuanceofdebt 74,899 15,1

79,711 ‐ ‐ ‐ ‐ ‐ ‐ ‐ 19,430,1 65

Bondrefund ing/costs 74,899 15,179,7 11 ‐ ‐ ‐ ‐ ‐ ‐ ‐ (19,430,165)

Totalotherfinancingsources(uses) 9, 066,579 30,205,215 674,698 649,449 634,099 604, 085 134,469 (107,470) 40,044 (798,480)

Netchangeinfundbalances 372,863$ 24,447, 626$ (3,064,000)$ 275, 623$ (3,264,193)$ 1,343,381$ 2,989,979$ 3,609, 876$ 1,116,924$ 5, 793,887$

Debtserviceasapercentageof

nonc

apitalexpenditures 12.0% 155.9% 19.4% 14.5% 13.7% 12.8% 12.4% 11.8% 10.3% 16.4%

CITYOFCANBY,OREGON

GOVERNMENTALACTIVITIESTAXREVENUESBYSOURCE

LastTenFiscalYears

80



FiscalYear PropertyTax Franchise

Unrestricted

Intergovernmenta l

Revenues TransitTax

Transient

Roo mTax Total

2012 6,150,855$ 463,062$ 1,914,755$ 946,398$ ‐$ 9, 475, 070$

2013 6,498,735 459,100 1,728,834 1,006,388 ‐ 9,693,057

2014 6,889,702 442,498 1,828,117 1,054,412 ‐ 10,214,729

2015 7,096,541 479,348 1,903,952 1,201,314 ‐ 10,681,155

2016 7,448,765 452,204 1,184,433 1,284,333 ‐ 10,369,735

2017 7,684,963 1,2 43,135 467,965 1,358,729 ‐ 10,754,792

2018 8,343,809 1,3 00,972 654,701 1,424,664 ‐ 11,724,146

2019 8,980,719 1,

26,766 98 2,634 1,520,524 23,111 13,133,754

2020 9,835,249 1,6 35,603 599,236 1,569,157 21,132 13,660,377

2021 10,625,478 1,6 72,933 1,045,263 1,790,583 21,000 15,155,257

CITYOFCANBY,OREGON

ASSESSEDVALUESANDESTIMATEDACTUALVALUEOFTAXABLEPROPERTY

LastTenFiscalYears

81



FiscalYear

EndedJune

30 AssessedValue

Estim atedActual

Value AssessedValue

Estimated

ActualValue

Assessed

Value

Estimated

ActualValue

Assessed

Value

Estim ated

ActualValue AssessedValu e

Estim atedActual

Value

RatioofTotal

Assessedto

TotalEstimated

ActualValue

Total

DirectTax

Rate/

Thousand

2012 1,140, 571,946$ 1, 324,670,444$ 32,253, 454$ 32,253,454$ 11,005,866$ 11,435 ,400$ 31,866,590$ 32,256,433$ 1,215,697,856$ 1, 400,615,731$ 86.

% 3.54$

2013 1,172, 664,142 1,273,481,188 34,481,956 34,481,956 11,100,825 11,598,860 28,248,284 28,652,805 1,246,495,207 1,348,214,809 92.5% 3.56

2014 1,222, 677,112 1,355,829,043 36,777,433 36,777,433 11,088,542 11,575,900 27,527,820 28,035,278 1,298,070,907 1,432,217,654 90.6% 3.55

2015 1,261, 732,523 1,499,078,973 32,869,970 32,869,670 11,533,061 12,071,580 30,759,490 33,576,969 1,336,895,044 1,577,597,192 84.7% 3.55

2016 1,310, 364,807 1,644,762,342 35,935,708 35,935,708 12,436,695 12,995,710 32,291,900 35,355,967 1,391,029,110 1,729,049,727 80.5% 3.53

2017 1,372, 801,744 1,873,232,786 36,944,850 36,944,850 13,555,393 14

260,000 30,669,400 32, 246,879 1,453, 971,387 1,956,684,515 74.3% 3.54

2018 1,463, 345,780 2,097,943,370 36,456,013 36,456,013 14,916,467 16,107,760 33,046,500 35,454,237 1,547,764,760 2,185,961,380 70.8% 3.55

2019 1,559, 089,343 2,381,227,230 37,622,154 37,622,154 16,057,158 18,189,850 32,857,600 35,451,128 1,645,626,255 2,472,490,362 66.6% 3.52

2020 1,652, 285,945 2,578,777,534 39,626,246 39,626,246 17,382,198 20,945,790 33,844,300 36,952,248 1,743,138,689 2,676,301,818 65.1% 3.49

2021 1,771, 726,713 2,825,032,872 44,386,491 44,386,491 18,129,547 23,139,050 35,427,300 39,170,798 1,869,670,051 2,931,729,211 63.8% 3.49

REALPR OPERTY P

ERSONALPROPERTY MANU FACTUREDSTRUCTURES UTILITIES TOTAL

CITYOFCANBY,OREGON

PROPERTYTAXRATES

LastTenFiscalYears

82



FiscalYear

EndedJune30

Cityof

Canby

CanbySchool

Distr i ct

Clackamas

CC&ES D

Clackamas

County

OtherTaxing

Distr i cts Total

2012 3.54$ 6.17$ 0.94$ 3.00$ 3.38$ 17.03$

2013 3.56 6.01 0.95 2.98 3.54 17.04

2014 3.55 6.13 0.95 2.84 3.62 17.09

2015 3.55 6.10 0.95 2.84 3.62 17.06

2016 3.53 6.04 0.98 2.83 3.67 17.05

2017 3.54 6.

03

 0.98 2.83 3.76 17.14

2018 3.55 5.93 0.97 2.92 3.85 17.22

2019 3.52 5.81 0.96 2.89 3.98 17.16

2020 3.49 5.46 0.94 2.86 4.28 17.03

2021 3.49 5.74 1.02 2.86 4.35 17.46



Source:ClackamasCountyAssessor'sOffice

Taxratesexpressedindollarsandcentsper$1, 000 ofassessedvalueoftaxableproperty

CITYOFCANBY,OREGON

PRINCIPALPROPERTYTAXPAYERS

CurrentYearandNineYearsAgo

83

Taxpayer

TaxableAssessed

Value Rank

Percentageof

TotalTaxable

AssessedValue

TaxableAssessed

Value Rank

Percentageof

TotalTaxable

AssessedVal ue

HopeVillageInc. 29,108,236$ 1 1.56% 17,469,317$ 1 1.47%

FredMeyerStore sInc.#651 28,230,670 2 1.51% 17,379,514 2 1.46%

CanbyEastAssoci atesLLC 22,926,705 3 1.23%

Se quoiaGroveApartmentsLLC 20,731,391 4 1.11%

Ameri canSteelCorporation 19,256,536 5 1.03% 17,365,978 3 1.46%

CanbyTelephoneAssn. 19,068,400 6 1.02% 15,283,900 4 1.29%

ShimadzuUS

AM

anufacturing 16,954,367 7 0.91% 7,141,366 8 0.60%

ArgoCanbyLLC 14,552,976 8 0.78% 11,124,384 5 0.94%

CanbyMarketCenterLLC 12,366,560 9 0.66%

JohnsonControlsBatteryGroupInc 12,145,200 10 0.65% 10,496,157 6 0.88%

KogapE nterprises 8 ,443,973 7 0.71%

JorkenOregonLLC 7,026,488 9 0.59%

TruamericaMultifamilyLLC 6,428,452 10 0.54%

Subtotal 195,341,041 10.46% 118,159,529 9.94%

All Other 1,674,329,010 89.55% 1,069,962,443 90.04%

Totals 1,869,670,051$ 100.0% 1,188,121,972$ 100.0%

Source:Clack amasCountyAssessor's Office

2021 2011

CITYOFCANBY,OREGON

PROPERTYTAXLEVIESANDCOLLECTIONS

LastTenFiscalYears

84



FiscalYear

EndedJune30

TaxesLevied

byAssessor

CurrentTax

Collections

Percentof

Levy

Collections

Delinquent

Taxes

Collected

TotalTax

Collections

Percentof

TotalTax

Collectionsto

TaxLevy

Adj ustments

&Discounts

Uncollected

Taxes

Percentof

Deliquent

TaxestoTax

Levy

2012 6, 293,904$ 5, 908,951$ 93.88% 173,954$ 6,082,905$ 96.65% 181, 262$ 415, 857$ 6.61%

2013 6, 686,668 6,303,201 94.27% 168,017 6,471,218 96.78% 209, 091

 422,

217 6.31%

2014 7, 065,651 6,697,090 94.78% 178,928 6,876,018 97.32% 200,749 411,100 5.82%

2015 7, 308,933 6,940,631 94.96% 161,623 7,102,254 97.17% 203,963 413,815 5.66%

2016 7, 737,450 7,358,209 95.10% 141,080 7,499,289 96.92% 214,069 437,810 5.66%

2017 7, 952,870 7,579,692 95.31% 131,614 7,711,306 96.96% 226,930 452,449 5.69%

2018 8, 643,447 8,229,881 95.22% 107,853 8,337,734 96.46% 253,650 504,512 5.84%

2019 9, 376,148 8,966,232 95.63% 304,277 9,270,509 98.87% 359,181 250,970 2.68%

2020 10,169,891 9,718, 570 95.56% 126,175 9,844,745 96.80% 299,538 276,578 2.72%

2021 10,953,338 10,481, 644 95.69% 139,767 10

621,411 96.97% 317,647 290,858 2.66%

Source:Clackama sCountyAssessor'sOffic e

CITYOFCANBY,OREGON

RATIOSOFOUTSTANDINGDEBTBYTYPE

LastTenFiscalYears

85

FiscalYea r

FullFaith&

CreditBonds Loans

Capital

Leases Bonds

TotalPrimary

Government

Per

Capita

2012 11,935, 239$ 4,736,852$ 184,991$ 1,626,192$ 18,483,274$ 1,168$

2013 26,623, 990 2,243,892 164, 026 1,3 80,768 30,412,676 1,917

2014 25,998, 030 2,064,204 126, 846 1,1 25,344 29,314,424 1,843

2015 25,301, 377 1,877,107 167, 584 864, 920 28,210,988 1,762

2016 24,515, 417 1,737,652 199, 255 584, 496 27,036,820 1,689

2017 23,684, 457 1,572,013 189, 364 299, 072 25,744,906 1,608

2018 22,838, 497 1,

435,263 104,343 ‐ 24,378,103 1,463

2019 21,962, 537 1,206,019 ‐ ‐ 23,168,556 1,379

2020 21,061, 577 1,107,971 ‐ ‐ 22,169,548 1,308

2021 20,105, 165 ‐ ‐ ‐ 20,105,165 1,126

Business‐

Type

ActivitiesGovernmentalActivities

CITYOFCANBY,OREGON

RATIOSOFGENERALBONDEDDEBTOUTSTANDING

LastTenFiscalYears

86

  

2012 15,830 1,215,697,856$ 12, 000,000$ 169, 733$ 11,830,267$ 0.0097 758$

2013 15,865 1,246,495,207 26,623,990 252,749 26,371,241 0.0212 1,678

2014 15,910 1,298,070,907 25,998,030 426,616 25,571,414 0.0197 1,634

2015 16,010 1,336,895,044 25,301,377 608,236 24,693,141 0.0185 1,580

2016 16,010 1,391,029,110 24,515,417 181,573 24,333,844 0.0175 1,531

2017 16,420 1,453,971,387 23,684,457 423,261 23,261,196 0.0160 1,442

2018 16,660 1,547,764,760 22,838,497 1, 563,028 21,275, 469 0.0137 1,371

2019 16,800 1,645,626,255 21,962,537 2, 650,213 19,312, 324 0.0117 1,307

2020

16,

950 1,743, 138,689 21,061,577 2,232,524 18,829,053 0.0108 1,243

2021 17,860 1,869,670,051 20,105,165 2, 883,689 17,221, 476 0.0092 1,126

  

(1)PortlandStateUniversity

(2)ClackamasCountyAssessor'sOffice

(3)Thisistheamountrestrictedfordebtserviceprincipalpayments

FiscalYear

Ended

June30

Population

(1)

Assessed

Value(2)

FullFaith&

CreditBond

Less:Amou nts

Av ailablein

DebtService

Fund(3

)

De

btper

Capita

NetBonded

Debt

Ratioof

Net

Bonded

Debtto

Assessed

Value

CITYOFCANBY,OREGON

DIRECTANDOVERLAPPINGGOVERNMENTALACTIVITIESDEBT

June30,2021

87



Percent City's

Total Within ProRata

NetDebt City Share

Direct:

Cityof Canby 20,105,165$ 100% 20,105,165$

Overlapping:

ClackamasCounty 125,400, 000 3.18% 3, 990,479

ClackamasCountySchoolDistrictNo86 113,244,037 47.71% 54,031, 674

ClackamasSoil&WaterConservation 6,144,000 3.18% 195,514

ClackamasCommunityCollege 84,925,428 4.32% 3, 671,751

ClackamasCountyESD 23,805,136 3.34% 794,520

CanbyRura lFireProtectionDistrict62 4,201, 206 71.10% 2,986, 915

Totaloverlapping 357,719,807 65, 670,853

TOTAL 377,824, 972$ 85,776,018$

Source:DebtManagementDivision,OregonSt

ateTr

easury

Jurisdiction

Note:Overlappinggovernmentsarethosethatco incide,atleastinpart,withthegeographicboundaries

ofth eCity.Thisscheduleestimatestheportionoftheoutstandingdebtofthoseoverlappin g

governmentsthatisbornebytheresidentsandbusinessesoftheCity.TheStateofOregonprovides

overlappingde

btda

tabasedonrealmarketvaluationofpro pertiesforeachju risdiction.

CITYOFCANBY,OREGON

LEGALDEBTMARGININFORMATION

LastTenFiscalYears

88



2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

DebtLimit 42,018,472$ 40,446,444$ 42,966,530$ 47,327,916$ 51,871,492$ 58,700,535$ 65,578,841$ 74, 174,711$ 80,289,055$ 87,951,876$

Totalnetdebtapplicationtolim it 11,935,239 26,6 23,990 25,998,0 30 25,301,377 24,5 15,417 23,684,4 57 22,838,497 21,9 62,537 21,061,5 77 20,105,165

Legaldebtmargin 30,083,233$ 13,822,454$ 16, 968,500$ 22,026,539$ 27,356,075$ 35,016,078$ 42,740,344$ 52,2 12,174$ 59,227,4 78$ 67,846,711$

Totalnetdebtapplicabletoth

elim itasa

percentageofdebtlimit 28.40% 65.83% 60.51% 53.46% 47.26% 40.35% 34.83% 29.61% 26.23% 22.86%

CITYOFCANBY,OREGON

PLEDGEDREVENUECOVERAGE

LastTenFiscalYears

89



SewerCharges Less:Operating NetAvailable Co verage

FiscalYear andOther Ex penses Revenue Ratio Principal Interest

2012 3,248,920$ 1,672,914$ 1,576,006$ 528% 235, 000$ 63,534$

2013 3,430,951 2,022, 018 1,408,933 478% 240, 000 54,925

2014 4,877,449 2,105, 742 2,771,707 936% 250, 000 46,044

2015 3,918,768 3,666, 109 252,659 87% 255,000 36,891

2016 4,171,357 3,362, 437 808,920 268% 275, 000 27,284

2017 4,026,032 3,799, 856 226,176 76% 280,000 17,050

2018 4,671,564 4,262, 432 409,132 136% 295, 000 5,900

2019 4,415,604 2,499, 401 1,916,203 ‐ ‐



‐

2020 4,397,005 2,586, 158 1,810,847 ‐ ‐ ‐

2021 4,460,413 2,831, 772 1,628,641 ‐ ‐ ‐

SewerRevenueBonds

DebtService

CITYOFCANBY,OREGON

DEMOGRAPHICSTATISTICS

LastTenFiscalYears

90



FiscalYear

Population

(1)

Totalpersonal

income(in

thousands)

Percapita

personal

income(2)

Median

age(2)

Unemployment

rate(3)

School

EnrollmentK‐

12(2)

2012 15,830 390,447$ 24, 665$ 34.9 8.5% 2,892

2013 15,865 387,233 24,408 34.9 7.3% 2,991

2014 15,910 404,512 25,425 35.4 6.1% 3,187

2015 16,010 428,043 26,736 37.0 5.2% 3,300

2016 16,010 454,652 28,398 36.1 4.7% 3,446

2017 16,420 486,262 29,614 36.6

 3.

8% 3,588

2018 16,660 508,563 30,526 37.8 3.6% 3,722

2019 16,800 537,264 31,980 38 3.9% 3,477

2020 16,950 543,637 32,073 39 5.7% 3,554

2021 17,860 *** 5.7%*

*Informationunavailableatthistime

(1)Source:Portland StateUniversityPopulationResearc hCenter

(2)UnitedStatesCensusBureauAmericanCommunitySurvey5‐yearEstimates

(3)annualaverage(Source:StateofOregonEmploymentDepartment)

CITYOFCANBY,OREGON

PRINCIPALEMPLOYERS

CurrentYearandNineYearsAgo

91

Employer Employees Rank

Pe rcentageof

totalcity

employment Employees Rank

Percentageof

totalcity

employment

CanbySchoolDistrict 533 1 6.35% 394 1 7.20%

Ke ndalFloral LLC 346 2 4.12% 240 2 4.38%

ColumbiaDistributing 291 3 3.46% 170 4 3.11%

FredMeyerStores Inc. 250 4 2.98% 113 7 2.06%

Clarios 220 5 2.62% 130 6 2.37%

MilwaukieElectronics 188 6 2.24% 187 3 3.42%

ShimadzuUSAMfg.Inc. 186 7 2.21%

ICCNorthwest 155 8 1.85%

SRSmithLLC 130 9 1.55% 135 5 2.47%

MarquisCare@HopeVill age 112 10 1.33%

CityofCanby 92 9 1.68%

JVNorthwestInc. 111 8 2.03%

WilsonConstructi onCo 82 10 1.50%

Subtotal 2,411 28.71% 1,654 30.22%

All Other 5,988 71.29% 3,821 69.78%

Total 8,399 100.0% 5,475 100.0%

Historicalinformationfromnineyearsagoisunavailable;thenearestavailabledataispre sente d.

2021 2013

Source:CityofCanby Business Licensedata,CanbyDevelopmentServi cesDepartment,2012Market

Analysis,OregonEmploymentDepartmentandCanbySchoolDistrict

CITYOFCANBY,OREGON

FULL‐TIMEEQUIVALENTCITYGOVERNMENTEMPLOYEESBYFUNCTION

LastTenFiscalYears

92

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Function

GeneralGovernment 20.51 20.65 20.46 17.57 17.81 16.96 14.85 24.06 22.66 23.57

Pu blicSafety

PoliceOfficers 23.85 23.23 24.40 24.98 24.39 24.30 24.58 25.41 25.37 26.29

Civilians 4.60 4.60 4.55 3.30 2.90 3.30 3.30 3.96 3.94 3.87

Highwaysandstreets 5.01 4.63 5.12 5.64 6.11 5.73 5.26 5.96 6.35 5.86

Cultureandrecreation 18.88 18.11 16.85 17

85 17.58 17.58 22.37 18.15 16.12 17.76

Communitydevelopment 8.97 7.68 5.24 4.54 4.67 4.99 4.98 5.39 4.95 5.68

Transpo rtation 1.91 1.89 2.20 2.76 2.76 2.75 2.56 2.47 2.66 2.69

Sewer 8.17 10.58 11.15 10.50 11.02 11.36 10.09 9.28 9.97 10.44

Total 91.90 91.37 89.97 87.14 87.24 86.97 87.99 94.68 92.02 96.16

Source:AnnualAdoptedBudgetBoo kandCityRecords

CITYOFCANBY,OREGON

OPERATINGINDICATORSBYFUNCTION

LastTenFiscalYears

93



2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Function

Police

Physicalarrests 88 3 900 552 537 488 375 526 693 413 521

Parkingvi olati ons 50 112 76 65 124 100 109 140 74 94

Trafficviolations 2,786 2,962 3,990 4,302 3,616 3,867 3,594 4,660 3,271 3,647

Cultureandrecreation

SwimCenterAdmissions 73,370 74,584 73,363 80,290 78,557 75,496 77,500 75,654 43,690 13,015

LibraryCirculation 338,713 332

465 326,524 310,938 291,876 312,049 287,249 283,225 208,576 142,361

LibraryPatronVisits ******122,882 132,993 92,774 5,670

Transportation

Ridership 150,186 124,878 103,649 106,903 90,260 76,294 75,112 82,255 77,924 60,113

Communityde velopment

Vari ousA pplicatio nsReviewed 18 28 53 65 63 78 89 79 57 104

Si tePlan/BuildingPermi tApps.Reviewed 22 93 104 107 169 135

 165

 219 246 218

Wastewater

Averagedailyse wagetreatment

(millionsofgallons) 0.9744 0.9752 0.9481 0.9962 1.0059 1.0049 0.9983 0.9952 0.9911 1.0142

Source:CityDe partments

*Addedto sche du le2019

CITYOFCANBY,OREGON

CAPITALASSETSTATISTICSBYFUNCTION

LastTenFiscalYears

94



2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Func tion

Pu blicSafety

Police:

Stations 1111111111

Patrolunits 14 16 16 19 16 17 17 19 19 16

Highwaysandstreets

Streets(centerlanemiles) 54.17 54.55 55.24 56.00 56.28 57.25 57.68 59.29 59.93 59.93

Streetligh ts 1325 1319 1362 1379 1399 1413 1445 1473 1522 1526

Cultureandrecreation

Parksacreage 187 187 187 187 187 187 294 294 300 300

Swimmingpools 1111111111

Tenniscourts 2222222200

Communitycenters 1111111111

Sewer

Numberofconnections 6,232 6,246 6,276 6,301 6,385 6,443 6,469 6,530 6,635 6,829

Maximumdailytreatmentcapacity

(million sofgallon s) 2.80 2.80 2.80 2.80 2.80 2.80 2.80 2.80 2.80 2.80

Source:CityDepartments

95



COMPLIANCESECTION

INDEPENDENT AUDITOR’S REPORT

REQUIRED BY OREGON STATE REGULATIONS

Honorable Mayor and Council Members

City of Canby

222 NE 2

Avenue

Canby, Oregon 97013

We have audited, in accordance with auditing standards generally accepted in the United States of America, the

basic financial statements of the City of Canby, Oregon (the City) as of and for the year ended June 30, 2021 and

have issued our report thereon dated June 30, 2022.

Compliance and Other Matters

As part of obtaining reasonable assurance about whether the City’s financial statements are free of material

misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and

grants, including the provisions of Oregon Revised Statutes as specified in Oregon Administrative Rules 162-10-

000 through 162-10-320 of the Minimum Standards for Audits of Oregon Municipal Corporations, noncompliance

with which could have a direct and material effect on the determination of financial statements amounts. However,

providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we

do not express such an opinion.

We performed procedures to the extent we considered necessary to address the required comments and disclosures

which included, but were not limited to the following:

 Deposit of public funds with financial institutions (ORS Chapter 295).

 Indebtedness limitations, restrictions and repayment.

 Budgets legally required (ORS Chapter 294).

 Insurance and fidelity bonds in force or required by law.

 Programs funded from outside sources.

 Highway revenues used for public highways, roads, and streets.

 Authorized investment of surplus funds (ORS Chapter 294).

 Public contracts and purchasing (ORS Chapters 279A, 279B, 279C).

 Accountability for collecting or receiving money by elected officials – no money was collected or

received by elected officials.

In connection with our testing, nothing came to our attention that caused us to believe the City was not in

substantial compliance with certain provisions of laws, regulations, contracts, and grants, including the provisions

of Oregon Revised Statutes as specified in Oregon Administrative Rules 162-10-000 through 162-10-320 of the

Minimum Standards for Audits of Oregon Municipal Corporations, except the City did not timely file the audited

financial statements for the year ended June 30, 2021 with the Oregon Audits Division.

Internal Control Over Financial Reporting

In planning and performing our audit of the financial statements, we considered the City's internal control over

financial reporting to determine the audit procedures that are appropriate in the circumstances for the purpose of

expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the

effectiveness of the City's internal control. Accordingly, we do not express an opinion on the effectiveness of the

City's internal control.

Restriction on Use

This report is intended solely for the information and use of the council members and management of the City of

Canby, Oregon and the Oregon Secretary of State and is not intended to be and should not be used by anyone other

than these parties.

GROVE, MUELLER & SWANK, P.C.

CERTIFIED PUBLIC ACCOUNTANTS

By:

Ryan T. Pasquarella, A Shareholder

June 30, 2022