HomeMy WebLinkAboutSonoma County - Public Financial ReportSonoma County Citizens’ Report
Prepared by the Auditor‐Controller‐Treasurer‐Tax Collector's Office
Fiscal Year Ended June 30, 2021
Page 1 | County of Sonoma Citizens' Report
Inside the Citizens' Report
Table of Contents
A Message from the ACTTC ............................................. 2
County of Sonoma Information ......................................... 3
Financial Summary and Trends ........................................ 5
County Revenues and Expenses ........................................ 7
Component Units ............................................................. 9
Postemployment Benefits and Liabilities ........................ 10
Highlights ....................................................................... 11
What is the Citizens' Report?
The Citizens' Report is prepared annually by the Auditor‐
Controller‐Treasurer‐Tax Collector's office (ACTTC) in
order to provide important County financial data to
taxpayers in a format that is both informative and suitable
for those who are not finance professionals.
The ACTTC is dedicated to promoting transparency and
fiscal accountability within local government. This Citizens'
Report serves an important role in that mission by
continuing to provide our taxpayers and stakeholders with
access to County financial information.
Covered in the Report
The Citizens' Report for the fiscal year ended June 30, 2021,
provides insight into the County of Sonoma's financial
situation over the preceding twelve months, hereafter
referred to as fiscal year 2020‐21.
Data Sources
The financial data in this report is drawn from the County's
Annual Comprehensive Financial Report (ACFR), a more
detailed and complete presentation of the County's
finances.
The ACFR was prepared in accordance with Generally
Accepted Accounting Principles (GAAP) and audited by a
team of independent auditors that presented the County
with an unmodified (clean) opinion.
Interested parties can view both the ACFR and Citizens'
Report at https://sonomacounty.ca.gov/ACTTC/General‐
Accounting/Financial‐Reports/ or by visiting our office.
Sources
The following sources were used to compile the non‐
financial data in this report:
California Employment Development Department,
California Department of Finance, U.S. Bureau of Labor
Statistics, U.S. Census Bureau, U.S. Department of Housing
and Urban Development, CA Association of Realtors, Bay
Area Real Estate Information Services, Inc., Sonoma County
ACFR 2021, and the Sonoma County Employees' Retirement
Association (SCERA) ACFR 2020.
County of Sonoma Citizens' Report | Page 2
A Message from the ACTTC
Presenting the Citizens' Report
It is my pleasure to present to you
the Sonoma County Citizens'
Report for the fiscal year ended
June 30, 2021. Over the past year
Sonoma County has continued to
strive for resiliency in the face of
challenges arising from flood, fire,
public safety power shutoff events
and the COVID‐19 pandemic.
The impact of these events on our
community are unprecedented and ongoing. COVID‐19
continues to be a part of our daily lives and through health
orders, vaccine distribution, testing, financial assistance,
housing support, senior resources, and mental health and
wellness services, the County response to this crisis
continues to touch each of us in the community. I am
pleased to report that there have been several positive
economic and financial signs over the last year.
Economic Indicators
Employment figures have shown significant improvement
within the last year. The County's unemployment rate
decreased from 11.6% to 5.8% as of June 2021. Housing
prices increased by 17% over the previous year, which raised
the median home price to $760,500.
As a result of relaxed travel and other COVID‐19
restrictions, the County’s transient occupancy tax increased
by 50.0%, local sales tax increased by 19.5%, and Prop. 172
public safety sales tax increased by 10.3%. The County’s
largest revenue source, secured property taxes, increased
by 4.6%.
Financial Highlights
The County continued the effort to maximize public
disaster response and recovery reimbursements from State
and Federal sources. As of June 30, 2021, the County
received $58.5 million of the estimated $104.8 million in
reimbursable disaster related costs.
In fiscal year 2020‐21, the County expended $50.6 million
in Federal CARES Act emergency funding to promote
public health and safety in response to COVID‐19.
In May 2021, the County received $48.0 million of its $96.0
million allocation from American Rescue Plan Act funds to
support urgent COVID‐19 response efforts, cover increased
expenditures, replenish lost revenue and mitigate
economic harm from the pandemic. The County has
established an extensive community engagement process
and is working with community organizations and County
departments in order to support an equitable recovery.
In June 2021, the County received a PG&E settlement of
$20.6 million for damages from the 2019 Kincade Fire. The
County will use these funds to make strategic project
investments with input from the community.
As of June 30, 2021, the General Fund total fund balance
increased by $181.0 million and the government‐wide net
position increased by $446.1 million. Changes in net
position are indicative of the overall fiscal health of the
County and fiscal year 2020‐21 is the eleventh consecutive
fiscal year that the County experienced an increase in net
position.
Long‐Term Fiscal Outlook
Over the last four and a half years, Sonoma County has
experienced eight disaster events including the current
pandemic. The County continues to make recovery and
resiliency a high priority, and is maximizing the use of
externally funded grants as a primary mechanism to finance
critical projects in these areas.
The financial impact of COVID‐19 is expected to continue
well into fiscal year 2022‐23. While key revenue streams
largely recovered in fiscal year 2020‐21 and the residential
real estate market remains strong, the commercial
property market has lagged. County general purpose
revenues are projected to increase by less than 2% annually
over the next three to five years.
Lastly, the current high rate of inflation is a concern and
could have an adverse effect on the overall economy in
coming years.
To the citizens of Sonoma County, thank you for your
continued support of this office.
Sincerely,
Erick Roeser
Auditor‐Controller‐Treasurer‐Tax Collector
County of Sonoma
Page 3 | County of Sonoma Citizens' Report
County of Sonoma Information
Susan Gorin, District 1 Supervisor
David Rabbitt, District 2 Supervisor
Chris Coursey, District 3 Supervisor
James Gore, District 4 Supervisor
Lynda Hopkins, District 5 Supervisor
About the County
Location and Population
Sonoma County is located about fifty miles north of San
Francisco, in a community recognized as one of the premier
wine‐grape growing regions in North America. The county
covers more than one million acres of comfortable urban
living, sprawling vineyards, rolling hills, protected wetlands,
and pristine outdoor recreation areas.
Over a third of the County's 484,207 residents live in the city
of Santa Rosa, the County seat; another third reside in the
County's eight smaller towns and cities; and the final third
are spread throughout unincorporated county land.
Those citizens residing in unincorporated areas of the
County are represented in local government by the
members of the Board of Supervisors and receive many of
their municipal services from the County.
Overview and Administration
Sonoma County policymaking and legislative authority is
vested in the County Board of Supervisors (the Board).
Board members are elected for staggered four‐year terms,
and each member represents one of the County's five
districts.
A County Administrator is appointed by the Board to assist
in managing, directing, and coordinating the operations of
all County departments.
Four County departments: the Sheriff‐Coroner, District
Attorney, Auditor‐Controller‐Treasurer‐Tax Collector, and
the Clerk‐Recorder‐Assessor‐Registrar of Voters, are led by
elected department heads. Other department heads are
appointed by the Board or the County Administrator.
Staffing, Resources, and Services
The County employed 3,860 full‐time employees during
fiscal year 2020‐21 in order to provide a full range of services
to its residents. The number of full‐time equivalent
employees decreased by 12 since last year.
Citizens residing in unincorporated areas of the County
receive most of their municipal services from the County,
including law enforcement, land use and zoning, building
permits, local road building and maintenance, and animal
County of Sonoma Citizens' Report | Page 4
care. In addition, most services performed by the County
are provided for all residents, regardless of whether
residents live in cities or unincorporated areas.
The County's principal functions include seven major areas:
general government, public protection, public ways and
facilities, health and sanitation, public assistance,
education, and recreation and cultural services. Every
County resident, directly or indirectly, benefits from these
services.
Demographics and Economy
Population Growth
Sonoma County's population was 484,207 in fiscal year
2020‐21, a decrease of 8,773, or 1.8%, from the previous
year, continuing a downward trend from prior year.
Median Family Income
The County's estimated median family income during the
year was $103,300. This represents an increase of $600, or
1%, over the $102,700 reported last year, and places
Sonoma ahead of national and state and averages, but
below that of neighboring Marin County.
Median Home Prices
Sonoma County home prices increased in 2020‐21, with the
median home price standing at $761,000, a 17% increase
over the prior year.
Sonoma County home prices are slightly above the
California median home price, but below that of
neighboring Napa and Marin Counties in fiscal year 2020‐
21.
Unemployment
The County’s unemployment rate decreased to 5.8% from
11.6% as of June 2021, the result of the economic upturn
following the effects of the Coronavirus disease (COVID‐19)
pandemic.
$79.9 $90.1 $103.3
$65.9
$101.5
$149.6
$0
$50
$100
$150
$200
USA CA Sonoma Mendo. Napa Marin
Median Family Income
(Dollars in Thousands)
$589 $635 $615 $650
$761
$0
$100
$200
$300
$400
$500
$600
$700
$800
2016‐17 2017‐18 2018‐19 2019‐20 2020‐2021
Sonoma County Median Home Prices
(Dollars in Thousands)
$362
$820 $761
$545
$796
$1,529
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
USA CA Sonoma Mendo. Napa Marin
Median Home Price Comparisons
(Dollars in Thousands)
0%
3%
6%
9%
12%
15%
18%
2017 2018 2019 2020 2021
Unemployment Rate (June 2021)
Nation California Sonoma
Page 5 | County of Sonoma Citizens' Report
Financial Summary and Trends
Overview
The information in this section provides insight into how
the County utilizes its resources to provide services.
Inside the Statement of Net Position
Assets: Listed assets represent anything of value (cash,
equipment, real estate) owned by the County.
Deferred Outflows and Inflows of Resources: The outflow
(consumption) or inflow (acquisition) of resources in the
current period applicable to future reporting periods.
Liabilities: Represent all debts and future obligations of the
County.
Net Position: The sum of the County's assets and deferred
outflows of resources less its liabilities and deferred inflows
of resources.
The Statement of Net Position
The Statement of Net Position below presents the County's
financial position from a long‐term perspective.
Important elements from the Statement of Net Position are
explained in detail later in this section.
Statement of Net Position
2020‐21 2019‐20 Change
ASSETS
Current and other assets 1,204,896$ 872,082$ 332,814$
Capital assets 1,563,475 1,505,697 57,778
Total assets 2,768,371 2,377,779 390,592
Deferred outflows of resources 115,396 119,341 (3,945)
LIABILITIES
Current and other liabilities 265,933 192,305 73,628
Long‐term liabilities 797,678 900,155 (102,477)
Total Liabilities 1,063,611 1,092,460 (28,849)
Deferred inflows of resources 145,789 176,413 (30,624)
NET POSITION
Net capital assets 1,508,365 1,443,754 64,611
Restricted 372,481 298,607 73,874
Unrestricted (206,479) (514,114) 307,635
Total net position 1,674,367$ 1,228,247$ 446,120$
(Dollars in Thousands)
Capital Assets
Capital assets indicate the value of land, buildings,
equipment, vehicle fleets, etc., owned by the County. In
fiscal year 2020‐21, capital assets increased by $57.8 million
to $1,563.5 million from $1,505.7 million.
The current year increase is due to increased spending on
roads improvement projects, Integrated Justice Services,
Geographic Information & Web services, and Sheriff's
expansion roof.
Long‐Term Debt
In fiscal year 2020‐21, the County's long‐term debt of
bonds, loans, certificates of participation and other long‐
term debt totaled $427.7 million, a decrease of $47.7
million, or 10.0%, from prior year. This reduction in total
debt was largely due to Pension Obligation Bonds
repayments of $34.7 million.
The County debt shown above does not match the liabilities
indicated on the Statement of Net Position because certain
estimated liabilities, such as net pension and net OPEB, are
excluded (see the Postemployment Benefits and Liabilities
section Page 10).
1.7%
1.0%
1.8%
2.2%
3.8%
0%
2%
4%
2016‐17 2017‐18 2018‐19 2019‐20 2020‐21
Growth in Capital Assets
$594.1 $555.0 $525.5 $475.4 $427.7
$0.0
$450.0
$900.0
2016‐17 2017‐18 2018‐19 2019‐20 2020‐21
County Debt
(In Millions)
Other Long‐Term Debt Certificates of Participation
Loans Payable Bonds Payable
Pension Obligation Bonds
County of Sonoma Citizens' Report | Page 6
Net Position
The County's total assets and deferred outflows of
resources increased by $386.7 million. Liabilities and
deferred inflows of resources decreased by $59.5 million.
Total net position for fiscal year 2020‐21 was $1,674.4
million.
During fiscal year 2020‐21, total net position increased
$446.1 million.
Net Investment in Capital Assets
In fiscal year 2020‐21, the County’s net investment in capital
assets was $1,508.4 million. Net investment in capital
assets is the largest component of the County's net
position. The County's capital assets themselves cannot be
used to pay County debt or other operating costs; resources
needed to pay these obligations must be provided from
other sources.
Restricted Net Position
In fiscal year 2020‐21, $372.5 million, or 22.2%, of the
County's net position was restricted. A restricted resource
is subject to external regulation on its use. An example of a
restricted resource would be a grant given to the County to
improve public safety.
Grantors, contributors, laws and regulations, constitutional
provisions, or legislation passed by federal, state, or local
governments can impose regulations on restricted assets.
Unrestricted Net Position
The final component of net position is unrestricted net
position. Unrestricted net position represents resources
that can be used to meet ongoing obligations to citizens or
creditors.
In fiscal year 2020‐21, the County reported a $206.5 million
deficit in unrestricted net position. This deficit is due to the
County’s net pension and other postemployment benefit
liabilities reported as required by GAAP standards (see the
Postemployment Benefits and Liabilities section Page 10).
The Statement of Activities
The following table compliments the Statement of Net
Position by providing additional details about the activities
that impacted the net position.
Statement of Activities
FISCAL YEAR 2020‐21 2019‐20
REVENUES
Program revenues:
Charges for services $ 134,210 $ 138,541
Operating grants and contributions 654,623 529,243
Capital grants and contributions 9,876 7,500
General revenues:
Property taxes 290,134 274,643
Documentary transfer taxes 9,071 6,817
Transient occupancy taxes 24,289 16,234
Unrestricted grants and gov't revenues 66,463 55,566
Unrestricted investment earnings 7,568 16,994
Other 218,540 46,192
Total operating revenues 1,414,774 1,091,730
EXPENSES
General government 174,850 120,051
Public protection 315,399 326,507
Public ways and facilities 41,555 52,321
Health and sanitation 126,113 124,539
Public assistance 211,766 213,416
Education 1,047 1,237
Recreation and cultural services 28,821 28,405
Interest on long‐term debt 21,752 24,259
Refuse 5,500 4,971
Airport 11,028 10,844
Energy Independence Program 2,417 2,306
Transit 18,505 20,410
Fair 5,954 11,222
Marinas 2,843 2,678
Other 1,104 1,050
Total operating expenses 968,764 944,216
Change in net position 446,120 147,514
Special item ‐ (10,301)
Net position, beginning of year 1,228,247 1,091,034
Net position, end of year $ 1,674,367 $ 1,228,247
(Dollars in Thousands)
$‐
$1,000
$2,000
$3,000
$4,000
Assets and
Deferred Outflows
of Resources
Liabilities and
Deferred Inflows
of Resources
Total Net Position
Net Position
(In Millions)2020‐21
2019‐20
Page 7 | County of Sonoma Citizens' Report
County Revenues and Expenses
Total Revenues
The County's total revenues for fiscal year 2020‐21 were $1.4 billion, an increase of $323 million from the previous year. These
revenues are derived from two broad sources: program revenues, which include items such as grants and charges for services,
and general revenues, which include items such as taxes and investment returns.
Revenue Source Amount Description
Charges for Services $134 million
Charges for Services are revenues collected through charges to customers or applicants who
purchase, use, or directly benefit from goods, services, or privileges provided. Charges for Services
revenues decreased by $4.3 million or 3.1% less than the previous year.
Operating Grants &
Contributions $655 million
Operating Grants & Contributions increased by $125.4 million, or 23.7%, more than prior year.
These funds are received from non‐County parties, such as State or Federal governments, and are
generally restricted to use by specific programs (such as public protection).
Capital Grants &
Contributions $10 million
Capital Grants & Contributions increased by $2.4 million, or 31.7% more than the prior year. These
funds are typically awarded by non‐County governments for the purchase or creation of capital
assets.
Property Taxes $290 million
Property Taxes are collected based on the assessed value of real property (i.e., buildings and
improvements, land), business personal property (i.e., heavy equipment), and other property (i.e.,
boats) located within the County. These revenues increased by $15.5 million, or 5.6%, from the
previous fiscal year. The increase was largely attributable to strong growth in assessed values.
Other Grants &
Governmental Revenues $66 million Other Grants & Governmental Revenues are generally not restricted to specific programs. These
revenues increased by $10.9 million, or 19.6%, over the prior fiscal year.
Investment Earnings $8 million Unrestricted investment earnings decreased by $9.4 million, or 55.5%, due to lower average yield
over prior year.
Other General Revenues
& Taxes $252 million Other General Revenues & Taxes increased by $182.7 million, or 263.8% more than the prior year.
9%
46%
1%
20%
5%
1%
18%
Where the Money Comes From
(As a percentage of $1.4 billion)
Charges for Services
Operating Grants & Contributions
Capital Grants & Contributions
Property Taxes
Other Grants & Gov't Revenues
Investment Earnings
Other General Revenues & Taxes
County of Sonoma Citizens' Report | Page 8
Total Expenses
The County's total expenses for fiscal year 2020‐21 were $969 million, an increase of $25 million from the previous fiscal year.
Expenses are classified by the function or service that they fund.
Expense Cost Purpose
General Government $175 million County operating costs, such as the Board of Supervisors, County Administrator, County Counsel,
Human Resources, and the Registrar of Voters are considered general governmental expenses.
Public Protection $315 million Community protection services consist of the Sheriff‐Coroner, District Attorney, Adult Probation,
Juvenile Probation, Public Defender, and Emergency Services.
Public Ways &
Facilities $41 million Consists of Transportation and Public Works and includes repairs and maintenance of public roads.
Health & Sanitation $126 million Includes Public Health, Environmental Health, Behavioral Health, and Alcohol and other Drug Services.
Public Assistance $212 million Consists of Human Service programs such as Economic Assistance, Employment and Training, Adult
and Aging, as well as Child Support Services and In‐Home Support Services.
Recreation & Cultural
Services $29 million Represents operations and maintenance of the County's regional and community parks, campgrounds,
swimming facilities, and trails.
Interest on
Long‐Term Debt $22 million Includes the indirect interest expense paid on general long‐term debt incurred by the governmental
functions.
Airport $11 million Represents operations and maintenance of the Airport.
Transit $19 million Represents operations and maintenance of the County's transit system.
Fair $6 million Represents costs and maintenance for the County's Fair operations.
Other Program
Expenses $13 million Includes operations and maintenance for the Sonoma County Energy Independence Program, Refuse,
Marinas, other enterprise districts, and education.
18%
33%
4%
13%
22%
3%2%
1%2%1%1%
Where Your Money Goes
(As a percentage of $969 million)
General Government
Public Protection
Public Ways & Facilities
Health & Sanitation
Public Assistance
Recreation & Cultural Services
Interest on Long‐Term Debt
Airport
Transit
Fair
Other Program Expenses
Page 9 | County of Sonoma Citizens' Report
Component Units
Financial Highlights
Discrete Component Units
Included in operations are several component units that
provide services within the County. These major legally
separate discrete component units (DCUs) include the
Sonoma County Water Agency (Sonoma Water), the
Sonoma County Community Development Commission
(CDC)and the Non‐major DCUs include several sanitation
districts, including Sonoma Valley, Russian River, South
Park, and Occidental County Sanitation.
Community Development Commission
The CDC’s total net position for fiscal year 2020‐21 was
$142.6 million. CDC’s unrestricted net position, available
for programs and projects, was $119.4 million.
The Commission’s revenues are primarily derived from
federally supported activities, which accounted for 67.9% of
the current year’s revenues.
The net position of CDC increased $21.6 million during fiscal
year 2020‐21 primarily due to increased funding to the
County Fund for Housing for shelters, congregate housing,
leases and short term housing services.
Sonoma County Water Agency
Sonoma Water is a wholesale water provider, delivering
potable water to 600,000 residents in Sonoma and Marin
Counties as well as providing flood protection, recycled
water, recreational opportunities, and wastewater
treatment. Sonoma Water’s total net position for fiscal year
2020‐21 was $387.0 million. Of this amount, $66.7 million
may be used to meet ongoing obligations to citizens and
creditors. Sonoma Water’s net position increased by $20.9
million as of June 30, 2021.
Sonoma Water revenues increased by $4.9 million in fiscal
year 2020‐21 compared to prior year. Key revenue increases
included an additional $10.3 million in charges for services
and $1.1 million in property tax revenue. These gains were
partially offset by a decrease of $3.2 million in investment
earnings and a decrease of $3.2 million in capital grants and
contributions.
Sonoma Water’s expenses decreased $1.6 million in fiscal
year 2020‐21. Changes in expenses include a decrease in
Flood Control expenses of $2.2 million as well as a decrease
in Water Transmission expenses of $2.1 million, offset by
increases in other areas. The decrease in Flood Control
expenses was a result of decreased project costs for the
Petaluma River Flood Management and Enhancements
project. The decrease in Water Transmission expenses was
mainly related to a partial impairment of the Kawana‐
Ralphine Pipeline project.
Statement of Net Position
Sonoma
Water CDC Nonmajor
ASSETS
Current and other assets 222,895$ 131,361$ 39,564$
Capital assets 335,915 24,041 125,095
Total assets 558,810 155,402 164,659
Deferred outflows of resources 7,143 1,139 75
LIABILITIES
Current and other liabilities 18,780 8,104 2,185
Long‐term liabilities 152,214 4,664 21,267
Total Liabilities 170,994 12,768 23,452
Deferred inflows of resources 7,957 1,159 ‐
NET POSITION
Net capital assets 221,683 22,461 106,887
Restricted 98,564 748 4,890
Unrestricted 66,755 119,405 29,505
Total net position 387,002$ 142,614$ 141,282$
(Dollars in Thousands)
Statement of Activities
Sonoma
Water CDC Nonmajor
Revenues:
Program revenues:
Charges for services 79,303$ ‐$ 27,778$
Operating grants/Contribution 6,506 73,667 1,765
Capital grants/Contributions 1,050 18,683 1,341
General revenues:
Property taxes 31,832 ‐ ‐
Investment earnings 709 1,954 112
Total revenue 119,400 94,304 30,996
Expenses 98,480 72,731 27,027
Change in net position 20,920 21,573 3,969
Net position, beginning of year 366,082 121,041 137,313
Net position, end of year 387,002$ 142,614$ 141,282$
(Dollars in Thousands)
County of Sonoma Citizens' Report | Page 10
Postemployment Benefits and Liabilities
About SCERA
Employees of the County of Sonoma are enrolled in the
Sonoma County Employees' Retirement Association
(SCERA), a multi‐employer defined benefit pension plan
(Plan) governed by a nine member Board of Retirement.
The Plan is paid for through employee and employer
contributions.
SCERA issues a report as of December 31 annually, available on
the SCERA website at http://scretire.org
Pension Benefits
The average SCERA annual pension benefit received in
2020 was $35,300, a $500 increase from the prior year.
Pension Obligation Bonds
As of June 30, 2021, the County held three Pension
Obligation Bonds (POBs), issued in 2003 and 2010, with an
outstanding combined balance of $286.7 million. A POB is
a bond obtained for the purpose of using borrowed funds to
generate a higher rate of return than the cost of the debt.
Financial Summary
SCERA's membership as of December 31, 2020, was 10,882
members, including 5,347 retirees and beneficiaries, 4,090
active employees, and 1,445 inactive vested members.
SCERA’s fiduciary net position as of December 31, 2020,
was $3.1 billion. Revenues for the year were $349.9 million.
This was comprised of $77.5 million of employer
contributions, $47.4 million of member contributions, and
net investment income of $224.9 million.
Expenses for the year were $193.1 million, an increase of
$6.8 million or 4% over the prior year. The majority of this
increase was due to $6.5 million in pension benefit
payments.
The contribution requirements of Plan members and the
County are determined by an independent actuary,
approved by the SCERA Board of Retirement, and adopted
by the County Board of Supervisors.
Other Postemployment Benefits
Sonoma County administers a single employer defined
other postemployment benefit (OPEB) plan. The authority
to establish and amend benefit provisions of the OPEB Plan
resides with the County Board of Supervisors (Board). The
Plan was closed to new participants on January 1, 2009. The
OPEB Plan is funded by the County, employees do not
contribute to the OPEB Plan.
Financial Summary
In fiscal year 2020‐21 the total OPEB Plan membership was
8,244, including 4,253 retires receiving benefits and 3,991
members not currently receiving benefits.
Contributions to the OPEB Plan in fiscal year 2020‐21 were
$30.5 million plus net investment income of $19.8 million.
Benefit payments were $22.4 million, including $1.3 million
in administrative expense. The increase in the OPEB
fiduciary net position was $27.7 million.
The OPEB Plan liability is determined by an independent
actuary. OPEB Plan contribution requirements are
determined by the County and adopted by the Board.
Net Pension and OPEB Liabilities
As of June 30, 2021, the pension and OPEB Plans were
94.2% and 38.2% funded, respectively, on a market value
basis. Combined assets totaled $3.2 billion compared to
$3.4 billion needed to pay future pension and OPEB
benefits. The difference approximates the combined net
pension and OPEB liabilities of $331.9 million in fiscal year
2020‐21.
$33,000 $33,600 $34,300 $34,800 $35,300
$‐
$10,000
$20,000
$30,000
$40,000
2016 2017 2018 2019 2020
Page 11 | County of Sonoma Citizens' Report
Highlights
Your Tax Dollars at Work
On March 2, 2021, the Sonoma County Board of
Supervisors approved a Five‐Year Strategic Plan that
includes a broad spectrum of goals that will shape the
County's priorities and activities in the coming years. The
Strategic Plan identifies five specific pillars: Healthy and
Safe Communities; Organizational Excellence; Racial
Equity and Social Justice; Climate Action and Resiliency;
and Resilient Infrastructure. Each of these pillars have
accompanying goals and objectives. The pillars and goals
are listed below.
Pillar I ‐ Healthy and Safe Communities ‐ Provide quality
and equitable housing, health, and human services for
all.
Pillar II ‐ Racial Equity and Social Justice ‐ Achieve racial
equity in County service provision and ensure a
workforce reflective of the community we serve.
Pillar III ‐ Organizational Excellence ‐ Be an innovative,
effective, engaged, and transparent organization
focused on quality programs and services.
Pillar IV ‐ Climate Action and Resilience ‐ Make Sonoma
County carbon neutral by 2030.
Pillar V ‐ Resilient Infrastructure ‐ Enhance services to
the community by investing in County facilities and
infrastructure; including roads, buildings,
communications, and flood protection.
For details see: https://socostrategicplan.org/
Reporting Awards
Government Finance Officers Association of the United
States and Canada (GFOA) has given an Award for
Outstanding Achievement in Popular Annual Financial
Reporting to the County of Sonoma for its Popular Annual
Financial Report for the fiscal year ended June 30, 2020. The
Award for Outstanding Achievement in Popular Annual
Financial Reporting is a prestigious national award
recognizing conformance with the highest standards for
preparation of state and local government popular reports.
In order to receive an Award of Outstanding Achievement
in Popular Annual Financial Reporting, a government unit
must publish a Popular Annual Financial Report, whose
contents conform to program standards of creativity,
presentation, understandability, and reader appeal.
An Award of Outstanding Achievement in Popular Annual
Financial Reporting is valid for a period of one year only. We
believe our current report continues to conform to the
Popular Annual Financial Reporting requirements, and we
are submitting it to GFOA to determine its eligibility for
another Award.