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 69,818 73,309 76,974 80,823 84,864 Utility Users Tax 17,997 18,717 19,372 19,953 20,552 Services Charges - Intra City 14,622 15,134 15,588 16,055 16,537 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 4,249 4,397 4,485 4,575 4,666 Parking/Traffic/Other Fines 2,401 2,449 2,498 2,548 2,599 Transient Occupancy Tax 12,259 13,853 14,864 15,942 16,739 Building Permits/License Fees 5,995 6,235 6,422 6,615 6,813 Transient Parking Tax 4,273 4,401 4,533 4,669 4,809 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 228,844$ 238,416$ 247,106$ 255,891$ 264,687$ Expenditures
City Council (1,003)$ (1,077)$ (1,126)$ (1,173)$ (1,217)$ City Manager (2,876) (3,072) (3,185) (3,299) (3,389) City Clerk (1,801) (1,926) (2,003) (2,078) (2,141) City Treasurer (907) (970) (1,006) (1,043) (1,073) City Attorney (5,093) (5,434) (5,623) (5,817) (5,965) Management Services (6,820) (7,299) (7,600) (7,892) (8,143) Financial Services (6,224) (6,723) (6,971) (7,219) (7,417) Parks & Recreation (30,980) (33,217) (34,713) (36,130) (37,414) Library Services (8,983) (9,606) (9,984) (10,356) (10,666) Community Development (14,552) (15,567) (16,192) (16,804) (17,320) Public Works (19,444) (20,831) (21,732) (22,595) (23,359) Fire (44,270) (47,471) (49,697) (51,808) (53,855) Police (65,844) (73,427) (76,768) (79,995) (83,048) Non-Departmental (8,907) (6,870) (8,091) (9,101) (9,916) Total General Fund Expenditures (217,705) (233,489) (244,694) (255,310) (264,923) RECURRING BALANCE / (DEFICIT) 11,138$ 4,927$ 2,413$ 580$ (236)$ Attachment 2
PROJECTED
(Amounts in Thousands)
General Fund
Financial Forecast FY 2023-24 through FY 2027-28
First Quarter FY 2023-24
Attachment 2 - Page 1
2023-24 2024-25 2025-26 2026-27 2027-28
Attachment 2
PROJECTED
(Amounts in Thousands)
General Fund
Financial Forecast FY 2023-24 through FY 2027-28
First Quarter FY 2023-24
Non-Recurring Revenue/Savings Items:
Non-Recurring Revenue/Resources 4,079$
Estimated Annual Budget Savings 4,354 4,670 4,894 5,106 5,298 Non-Recurring Revenue/Savings Total: 8,434 4,670 4,894 5,106 5,298 Plus Beginning Balance June 30th 44,269$ 28,262$ 29,833$ 34,339$ 37,371$ Working Capital Reserve (2,440) (2,368) (1,681) (1,592) (1,442) Emergency Reserve (813) (789) (560) (531) (481) Budget Stabilization Reserve (813) (789) (560) (531) (481) Compensated Absences Reserve (259) (1,165) - - - Adjusted Beginning Balance July 1st 39,943 23,151 27,032 31,685 34,968 Less Non-Recurring Expenses
Adopted One-Time Items (17,225)
Contributions to CalPERS (2,914) (2,914)
Deposit to 115 Trust (5,800)
Items Added Post Budget Adoption (5,314)
Subtotal Non-Recurring Items (31,253) (2,914) - - -
EXCESS/(DEFICIENCY) OF REVENUE
OVER APPROPRIATIONS 17,124$ 24,906$ 31,926$ 36,791$ 40,267$ PLUS RECURRING BALANCE (ABOVE) 11,138$ 4,927$ 2,413$ 580$ (236)$ ENDING SPENDABLE FUND BALANCE 28,262$ 29,833$ 34,339$ 37,371$ 40,031$ FORMAL RESERVE BALANCES 54,426$ 58,372$ 61,173$ 63,828$ 66,231$ 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 10.3% 5.0% 5.0% 5.0% 5.0%
Utility Users Tax 4.5% 4.0% 3.5% 3.0% 3.0%
Services Charges - Intra City 8.3% 3.5% 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 71.9% 3.5% 2.0% 2.0% 2.0%
Parking/Traffic/Other Fines 75.3% 2.0% 2.0% 2.0% 2.0%
Transient Occupancy Tax 16.2% 13.0% 7.3% 7.3% 5.0%
Building Permits/License Fees 7.2% 4.0% 3.0% 3.0% 3.0%
Transient Parking Tax 15.5% 3.0% 3.0% 3.0% 3.0%
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% 8.0% 6.0% 5.0% 5.0%
*confidential
BUDGET PARAMETERS
Forecast - First Quarter FY 2023-24
Attachment 2
Attachment 2 - Page 3