CITY OF LAGUNA NIGUEL NOTES TO BASIC FINANCIAL STATEMENTS JUNE 30, 2024 NOTE 9 CLASSIFICATION OF FUND BALANCE Details of the fund balance classifications at June 30, 2024 are as follows: Miscellaneous City Capital Nonmajor General Fund Grants Projects Governmental Total Nonspendable: Prepaid Items $ 171,978 $ - $ - $ - $ 171,978 Deposits 1,960 - 17,684 - 19,644 Total Nonspendable 173,938 - 17,684 - 191,622 Rest ricted: Pension 2,179,843 - - - 2,179,843 Public Safety - - 89,84- 5 89,845 Community Development - - 524,53- 2 524,532 Public Works - - 2,214,426 5,804,853 8,019,279 Total Restricted 2,179,843 - 2,214,426 6,419,230 10,813,499 Committed: Compensated Absences 148,916 - - - 148,916 Capital Asset Replacement 23,139,352 - - - 23,139,352 OPEB 1,154,625 - - - 1,154,625 Economic Uncertainty* 26,289,809 - -- 26,289,809 Total Committed 50,732,702 - -- 50,732,702 Assi gned: Continuing Appropriations: Communit y Development 222,223 - -- 222,223 Total Assigned 222,223 - -- 222,223 Unassigned (Deficit) - -(315,152) (2,482) (317,634) Total Fund Balance $ 53,308,706 $ (315,152) $ 2,232,110 $ 6,416,748 $ 61,642,412 *The City Council adopted the Financial Reserves Policy through resolution during the budget adoption process. The City will maintain a committed fund balance for Financial and Economic Uncertainty equal to no less than 50% of annual General Fund operating s. City Council approval shall be required before expending any portion expenditure of the for Financial and Economic Uncertainty. Unforeseen circ committed fund balance umstances that may require an expenditure of such amounts include, but are not limited to natural unforeseen deficiencies of a major revenue source, or unexpected opera disasters, ting or capital expenditures. (61)