2023-24 2024-25 2025-26 2026-27 2027-28
Recurring Items:
Revenues
Sales Tax 60,003 61,323 62,549 63,800 65,076 Property Taxes 65,818 68,451 71,189 74,036 76,998 Utility Users Tax 17,997 18,717 19,372 19,953 20,552 Services Charges - Intra City 14,622 15,207 15,663 16,133 16,617 Services Charges 22,741 23,650 24,478 25,213 25,969 In Lieu of Tax 9,513 9,893 10,190 10,445 10,706 Interest/Use of Money 3,249 3,411 3,479 3,549 3,620 Parking/Traffic/Other Fines 2,401 2,449 2,498 2,548 2,599 Transient Occupancy Tax 10,759 12,182 12,889 13,826 14,241 Building Permits/License Fees 5,995 6,175 6,361 6,551 6,748 Transient Parking Tax 3,773 3,867 3,964 4,063 4,165 Business Taxes 2,464 2,538 2,614 2,693 2,773 Franchises 1,442 1,428 1,428 1,428 1,428 Intergovernmental Revenues 1,067 1,088 1,110 1,132 1,155 Total General Fund Revenues 221,844$ 230,380$ 237,784$ 245,370$ 252,646$ Expenditures
City Council (1,003)$ (1,056)$ (1,093)$ (1,132)$ (1,173)$ City Manager (2,871) (2,976) (3,048) (3,124) (3,205) City Clerk (1,801) (1,875) (1,927) (1,982) (2,040) City Treasurer (907) (942) (966) (991) (1,018) City Attorney (4,860) (5,022) (5,133) (5,251) (5,376) Management Services (6,820) (7,118) (7,326) (7,546) (7,778) Financial Services (6,224) (6,527) (6,685) (6,852) (7,030) Parks & Recreation (30,980) (32,528) (33,617) (34,766) (35,976) Library Services (8,879) (9,241) (9,492) (9,758) (10,039) Community Development (14,552) (15,162) (15,587) (16,036) (16,511) Public Works (19,444) (20,359) (21,000) (21,677) (22,391) Fire (44,164) (46,431) (47,685) (48,939) (50,124) Police (65,844) (70,385) (73,058) (76,508) (79,130) Non-Departmental (8,685) (10,165) (11,111) (12,044) (12,809) Total General Fund Expenditures (217,035) (229,786) (237,726) (246,608) (254,599) RECURRING BALANCE SUBTOTAL 4,808$ 594$ 58$ (1,238)$ (1,953)$ RECURRING BALANCE / (DEFICIT) 4,808$ 594$ 58$ (1,238)$ (1,953)$
PROJECTED
(Amounts in Thousands)
General Fund
Financial Forecast FY 2023-24 through FY 2027-28
FY 2023-24 Proposed Budget
Attachment 2 - Page 1
2023-24 2024-25 2025-26 2026-27 2027-28
PROJECTED
(Amounts in Thousands)
General Fund
Financial Forecast FY 2023-24 through FY 2027-28
FY 2023-24 Proposed Budget
Non-Recurring Revenue/Savings Items:
Non-Recurring Revenue/Resources 2,607$
Estimated Annual Budget Savings 4,341 4,596 4,755 4,932 5,092 Non-Recurring Revenue/Savings Total: 6,948 4,596 4,755 4,932 5,092 Plus Beginning Balance June 30th 29,522$ 18,986$ 18,074$ 20,901$ 22,375$ Working Capital Reserve (2,339) (1,913) (1,191) (1,332) (1,199) Emergency Reserve (780) (638) (397) (444) (400) Budget Stabilization Reserve (780) (638) (397) (444) (400) Compensated Absences Reserve - - - - - Adjusted Beginning Balance July 1st 25,623 15,798 16,089 18,681 20,377 Less Non-Recurring Expenses
Proposed One-Time Items (9,680)
Contributions to CalPERS (2,914) (2,914)
Deposit to 115 Trust (5,800)
Subtotal Non-Recurring Items (18,394) (2,914) - - -
EXCESS/(DEFICIENCY) OF REVENUE
OVER APPROPRIATIONS 14,178$ 17,480$ 20,843$ 23,613$ 25,469$ PLUS RECURRING BALANCE (ABOVE) 4,808$ 594$ 58$ (1,238)$ (1,953)$ ENDING SPENDABLE FUND BALANCE 18,986$ 18,074$ 20,901$ 22,375$ 23,516$ FORMAL RESERVE BALANCES 54,259$ 57,447$ 59,432$ 61,652$ 63,650$ Attachment 2 - Page 2
Description 2023-24 2024-25 2025-26 2026-27 2027-28
Revenues:
Sales Tax 2.7% 2.2% 2.0% 2.0% 2.0%
Property Taxes 4.0% 4.0% 4.0% 4.0% 4.0%
Utility Users Tax 4.5% 4.0% 3.5% 3.0% 3.0%
Services Charges - Intra City 8.3% 4.0% 3.0% 3.0% 3.0%
Service Charges 20.1% 4.0% 3.5% 3.0% 3.0%
In-Lieu of Tax 4.5% 4.0% 3.0% 2.5% 2.5%
Interest/Use of Money 31.4% 5.0% 2.0% 2.0% 2.0%
Parking/Traffic/Other Fines 75.3% 2.0% 2.0% 2.0% 2.0%
Transient Occupancy Tax 2.0% 13.2% 5.8% 7.3% 3.0%
Building Permits/License Fees 7.2% 3.0% 3.0% 3.0% 3.0%
Transient Parking Tax 2.0% 2.5% 2.5% 2.5% 2.5%
Business Taxes 2.7% 3.0% 3.0% 3.0% 3.0%
Franchise Fees (2.0%) (1.0%) 0.0% 0.0% 0.0%
Intergovernmental Revenues (31.5%) 2.0% 2.0% 2.0% 2.0%
Expenditures:
Salaries & Wages* - - - - -
Utilities 9.0% 8.5% 5.0% 5.0% 5.0%
Contracts/Services/Other 3.0% 3.0% 3.0% 3.0% 3.0%
Internal Service Funds 12.0% 7.5% 5.0% 5.0% 5.0%
*confidential
BUDGET PARAMETERS
Forecast - FY 2023-24 Proposed Budget
Attachment 2 - Page 3