2022-23 2023-24 2024-25 2025-26 2026-27
Recurring Items:
Revenues
Sales Tax 58,417$ 59,816 61,251 62,476 63,726 Property Taxes 63,287 65,818 68,451 71,189 74,037 Utility Users Tax 17,222 17,997 18,717 19,185 19,665 Services Charges - Intra City 13,500 13,837 14,252 14,680 15,120 Services Charges 18,936 19,599 20,187 20,792 21,416 In Lieu of Tax 9,103 9,513 9,893 10,141 10,394 Interest/Use of Money 2,471 2,521 2,546 2,572 2,597 Parking/Traffic/Other Fines 1,370 2,200 2,244 2,289 2,335 Transient Occupancy Tax 10,548 10,759 12,082 12,976 13,920 Building Permits/License Fees 5,594 5,761 5,934 6,112 6,296 Transient Parking Tax 3,699 3,773 3,867 3,964 4,063 Business Taxes 2,400 2,472 2,546 2,623 2,701 Franchises 1,471 1,442 1,427 1,413 1,399 Intergovernmental Revenues 1,559 1,590 1,622 1,654 1,687 Total General Fund Revenues 209,577$ 217,098$ 225,021$ 232,066$ 239,355$ Expenditures
City Council (761)$ (825)$ (854)$ (877)$ (901)$ City Manager (2,739) (2,962) (3,056) (3,129) (3,207) City Clerk (1,773) (1,927) (1,999) (2,055) (2,114) City Treasurer (910) (986) (1,019) (1,045) (1,073) City Attorney (4,579) (4,937) (5,073) (5,183) (5,299) Management Services (6,566) (7,146) (7,429) (7,644) (7,872) Financial Services (6,029) (6,520) (6,725) (6,887) (7,059) Parks & Recreation (28,809) (31,525) (32,987) (34,080) (35,234) Library Services (8,488) (9,215) (9,552) (9,811) (10,086) Community Development (13,402) (14,580) (15,149) (15,584) (16,044) Public Works (18,356) (20,027) (20,882) (21,528) (22,210) Fire (38,422) (42,668) (44,422) (45,613) (46,804) Police (62,450) (64,054) (68,505) (71,126) (74,524) Non-Departmental (8,155) (3,760) (5,105) (5,954) (6,783) Total General Fund Expenditures (201,439) (211,132) (222,757) (230,516) (239,211) RECURRING BALANCE / (DEFICIT) 8,138$ 5,966$ 2,264$ 1,550$ 145$ General Fund
Attachment 3
PROJECTED
(Amounts in Thousands)
FY 2022-23 Mid-Year Report
Financial Forecast FY 2022-23 through FY 2026-27
Attachment 3 - Page 1
2022-23 2023-24 2024-25 2025-26 2026-27
General Fund
Attachment 3
PROJECTED
(Amounts in Thousands)
FY 2022-23 Mid-Year Report
Financial Forecast FY 2022-23 through FY 2026-27
Non-Recurring Revenue/Savings Items:
American Rescue Plan Funding 5,845$
Other Non-Recurring Revenue/Resources 8,597
Estimated Annual Budget Savings 3,022 3,167 3,341 3,458 3,588 Non-Recurring Revenue/Savings Total: 17,464 3,167 3,341 3,458 3,588 Plus Beginning Balance June 30th 49,019$ 35,367$ 42,077$ 44,776$ 47,844$ Working Capital Reserve (1,072) (1,454) (1,744) (1,164) (1,304) Emergency Reserve (357) (485) (581) (388) (435) Budget Stabilization Reserve (new) (10,072) (485) (581) (388) (435) Compensated Absences Reserve (1,098) - - - - Adjusted Beginning Balance July 1st 36,419 32,944 39,171 42,836 45,670 Less Non-Recurring Expenses
Adopted One-Time Items (9,593)
Contributions to CalPERS (7,970)
Deposit to 115 Trust (6,700)
Items Added Post Budget Adoption (658)
Mid-Year Budget Requests (1,734)
Subtotal Non-Recurring Items (26,654) - - - -
EXCESS/(DEFICIENCY) OF REVENUE
OVER APPROPRIATIONS 27,229$ 36,111$ 42,512$ 46,294$ 49,258$ PLUS RECURRING BALANCE (ABOVE) 8,138$ 5,966$ 2,264$ 1,550$ 145$ ENDING SPENDABLE FUND BALANCE 35,367$ 42,077$ 44,776$ 47,844$ 49,403$ Attachment 3 - Page 2
Description 2022-23 2023-24 2024-25 2025-26 2026-27
Revenues:
Sales Tax 11.1% 2.4% 2.4% 2.0% 2.0%
Property Taxes 5.8% 4.0% 4.0% 4.0% 4.0%
Utility Users Tax 9.6% 4.5% 4.0% 2.5% 2.5%
Services Charges - Intra City 0.8% 2.5% 3.0% 3.0% 3.0%
Service Charges 12.7% 3.5% 3.0% 3.0% 3.0%
In-Lieu of Tax 8.5% 4.5% 4.0% 2.5% 2.5%
Interest/Use of Money 22.8% 2.0% 1.0% 1.0% 1.0%
Parking/Traffic/Other Fines (37.8%) 60.6% 2.0% 2.0% 2.0% Transient Occupancy Tax 26.0% 2.0% 12.3% 7.4% 7.3%
Building Permits/License Fees 16.1% 3.0% 3.0% 3.0% 3.0% Transient Parking Tax 16.3% 2.0% 2.5% 2.5% 2.5%
Business Taxes 4.3% 3.0% 3.0% 3.0% 3.0%
Franchise Fees (3.5%) (2.0%) (1.0%) (1.0%) (1.0%)
Intergovernmental Revenues 81.4% 2.0% 2.0% 2.0% 2.0%
Expenditures:
Salaries & Wages* - - - - -
Utilities 9.0% 8.5% 5.0% 5.0%
Contracts/Services/Other 3.0% 3.0% 3.0% 3.0%
Internal Service Funds 12.0% 7.5% 5.0% 5.0%
*confidential
BUDGET PARAMETERS
Forecast - FY 2023-24 Mid-Year Report
Attachment 3 - Page 3