FINANCIAL
SERVICES
Fiscal Year 2023-24
Proposed Budget
Public Hearing and Adoption
June 13, 2023
1 Budget Presentation Schedule
2 May 9: Citywide Overview, General Fund, Burbank Water & Power Funds
May 16: Water Reclamation & Sewer, Refuse Collection & Disposal, Internal Service Funds, Special Revenue
Funds, Housing & Parking Authorities, Successor
Agency, Capital Improvement Program (CIP),
Discussion Papers
Jun 6: Public Hearing and Adoption of Utility Rates
June 13: Public Hearing and Adoption of Citywide
Budget and Fee Schedule
FY 2023-24 CITYWIDE BUDGET
Total Appropriations: $848,564,578
General Fund,
$229,879,049 Water Reclamation
& Sewer,
$22,109,632
Refuse Collection &
Disposal,
$33,653,163
Electric & Water
(BWP), $376,366,797
Internal Service
Funds,
$97,632,336
Special Revenue
Funds, $66,467,428
Housing Authority,
$14,218,191
Parking Authority,
$791,914
Successor
Agency,
$7,446,068
3 Dept. Subject Amount
CAO Addition of a Senior Assistant City Attorney
Position
$233,614
(recurring)
CM Expansion of the Scope and Services for the
City’s Current State Legislative Advocacy
Group
$7,000
(recurring)
P&R Funding for the Burbank Historical Society
50th Anniversary Event
Up to $10,000
(one-time)
City Council Directed Changes to
FY 2023-24 Proposed Budget
Dept. Subject Amount
Library Creation of an Additional Administrative
Analyst I Position to Enhance Sister City
Activities
$93,740
(recurring)
CDD Expansion of Homeless Outreach Services –
Possible Implementation Goals and Metrics
$100,000
(one-time)
CDD Interim Program for Renter Relocation
Assistance
$500,000 -
$600,000
(one-time)
City Council Requested Budget
Follow-up Items
General Fund 5-Year Forecast
(in millions)
6 Ending GF
Balance: $18.4 $22
$221.8
$230.4
$237.8
$245.4
$252.6
$217.0
$229.8
$237.7
$246.6
$254.6
$200
$210
$220
$230
$240
$250
$260
$270
2023-24 2024-25 2025-26 2026-27 2027-28
Revenue Expenses
Balance/
(Deficit): $4.6 $0.4 ($0.2) ($1.5) ($2.2)
Proposed Pension Funding Plan
(in millions)
Additional Discretionary Payments (ADP) in FY 2023-24 and FY 2024-25
Contribute $5.8 million from General Fund to Section 115 Trust 7 Total 2 Year
Commitment FY 2023-24 FY 2024-25
Misc Pension Plan* $ 6,000 $ 3,000 $ 3,000
Police Pension Plan $ 1,800 $ 900 $ 900
Fire Pension Plan $ 1,200 $ 600 $ 600
$ 9,000 $ 4,500 $ 4,500
* Only 50% funded by General Fund
Proposed Pension Funding
Commitment Policy Revision
In effort to ensure employee pension benefits are
responsibly funded, the City will require that half of any year-end General Fund balance, in excess of 6% of the
General Fund’s budgeted recurring appropriations, be
used to fund employee pension liabilities (either through a 115 trust or through direct payment to the benefit
administrator i.e. CalPERS). This annual funding
commitment will be required if employee pension benefits are less than 90% funded.*
8 Gann Initiative Appropriations Limit
Appropriations Limit $257,726,818
Appropriations Subject to Limitation $171,666,502
Difference $86,060,316
9 Conclusion
The FY 2023-24 Proposed Budget:
Funds premium City programs and services
Reflects the City Council’s goals and priorities
Right sizes fees and service charges
Provides a robust infrastructure program
Responsibly funds the City’s pension obligations
Fully funds the City’s reserves
10 Recommendation
Approve the resolutions
adopting the Budget for the
City, Housing Authority, and
Parking Authority, as well as
the Citywide Fee Schedule
and Appropriations Limit.
11