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CITY OF PLEASANTON NOTES TO BASIC FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2022 Note 9: Investment in Joint Ventures and Membership in Insurance Pool (Continued) Nevertheless, if there is excess equity in the City’s account for a program year that is five years old and for which there are no longer any outstanding claims for that program year, the BCJPIA Board of Directors may declare a dividend and distribute such dividend to the member entities based on what is in each member’s equity account. Financial statements for BCJPIA may be obtained from BCJPIA 1750 Creekside Oaks Drive, Suite 200, Sacramento, California 95833. b.Local Agency Workers’ Compensation Excess Joint Powers Authority In 2010, the City joined the Local Agency Workers’ Compensation Excess Joint Powers Authority (LAWCX). LAWCX was formed on July 1, 1992 as a state-wide joint powers authority to self-insure and pool excess workers’ compensation losses. LAWCX was established for California self-insured workers’ compensation joint powers authorities, individual agencies and special districts. LAWCX is governed by a Board of Directors with a representative from each member entity. Financial statements for LAWCX may be obtained from LAWCX, 1750 Creekside Oaks Drive, Suite 200, Sacramento, California 95833. c.Livermore-Amador Valley Waste Management Agency The Livermore-Amador Valley Waste Management Agency (LAVWMA) was formed in 1974. LAVWMA operates the export pipeline connecting with the East Bay Discharge Authority’s systems and discharges treated wastewater into San Francisco Bay. The current members of the Agency are Dublin San Ramon Services District (DSRSD), the City of Livermore, and the City of Pleasanton. Sewer revenue bonds issued by LAVWMA are being repaid with user charges assessed to member agencies. The City accounts for its investment in LAVWMA by the equity method in the Sewer Enterprise Fund. The City records its share of earnings and losses in the Proprietary Funds Statement of Revenues, Expenses and Changes in Fund Net Position as "Equity interest in gain (loss) from joint ventures," and the carrying value of the City's investment in LAVWMA is recorded in the Proprietary Funds Statement of Fund Net Position as "Net investment in joint ventures." The City’s equity interest in LAVWMA was $17,516,886 as of June 30, 2022. Financial statements for LAVWMA may be obtained from DSRSD, 7051 Dublin Boulevard, Dublin, California 94568. d.Pleasanton Joint Powers Financing Authority In June 1993, the Pleasanton Joint Powers Financing Authority (PJPFA) was formed by a Joint Exercise of Powers Agreement between the City of Pleasanton and the Housing Authority. The PJPFA has facilitated lease financings (through the issuance of Certificates of Participation) for many of the City’s public buildings and infrastructure. The PJPFA issued $7,100,000 of Water Revenue Bonds during FY 2016/17 (see Note 6b). The outstanding balance at June 30, 2022, was $2,820,000. The PJPFA is a blended component unit of the City and the financial operations of the PJPFA are included in the City of Pleasanton’s financial statements. 88