2024-25 2025-26 2026-27 2027-28 2028-29
Recurring Items:
Revenues
Sales Tax 64,412 66,180 67,834 69,530 71,268 Property Taxes 74,956 78,704 82,639 86,771 91,109 Utility Users Tax 19,639 20,326 21,038 21,669 22,319 Services Charges - Intra City 15,657 16,127 16,611 17,109 17,622 Services Charges 25,459 26,350 27,272 28,090 28,933 In Lieu of Tax 9,893 10,190 10,495 10,758 11,027 Interest/Use of Money 4,318 4,383 4,427 4,427 4,427 Parking/Traffic/Other Fines 2,601 2,653 2,706 2,760 2,815 Transient Occupancy Tax 13,853 14,546 15,600 16,731 17,568 Building Permits/License Fees 6,152 6,368 6,590 6,788 6,992 Transient Parking Tax 4,401 4,533 4,669 4,809 4,953 Business Taxes 2,464 2,538 2,614 2,693 2,773 Franchises 1,520 1,520 1,520 1,520 1,520 Intergovernmental Revenues 1,386 1,413 1,442 1,471 1,500 Total General Fund Revenues 246,711$ 255,830$ 265,457$ 275,125$ 284,827$ Expenditures
City Council (1,610)$ (1,700)$ (1,777)$ (1,849)$ (1,900)$ City Manager (3,036) (3,151) (3,270) (3,358) (3,441) City Clerk (1,961) (2,043) (2,123) (2,186) (2,242) City Treasurer (1,078) (1,120) (1,162) (1,195) (1,224) City Attorney (5,841) (6,046) (6,268) (6,424) (6,579) Management Services (7,969) (8,317) (8,650) (8,920) (9,148) Financial Services (7,527) (7,815) (8,111) (8,333) (8,539) Parks & Recreation (34,730) (36,449) (37,989) (39,339) (40,386) Library Services (9,711) (10,122) (10,522) (10,841) (11,116) Community Development (16,879) (17,610) (18,311) (18,879) (19,361) Public Works (20,501) (21,442) (22,318) (23,053) (23,652) Fire (49,490) (51,636) (53,819) (55,914) (58,487) Police (74,790) (78,043) (81,381) (84,512) (88,090) Non-Departmental (9,394) (8,754) (9,741) (10,537) (12,410) Total General Fund Expenditures (244,515) (254,248) (265,442) (275,339) (286,575) RECURRING BALANCE SUBTOTAL 2,196$ 1,582$ 15$ (214)$ (1,748)$ Proposed Recurring Discussion Papers (913) (913) (913) (913) (913) RECURRING BALANCE / (DEFICIT) 1,284$ 669$ (898)$ (1,127)$ (2,661)$
PROJECTED
Attachment 2
General Fund
Financial Forecast FY 2024-25 through FY 2028-29
Proposed FY 2024-25 Budget
(Amounts in Thousands)
Attachment 2 - Page 1
2024-25 2025-26 2026-27 2027-28 2028-29
PROJECTED
Attachment 2
General Fund
Financial Forecast FY 2024-25 through FY 2028-29
Proposed FY 2024-25 Budget
(Amounts in Thousands)
Non-Recurring Revenue/Savings Items:
Non-Recurring Revenue/Resources 385$
Estimated Annual Budget Savings 4,890 5,085 5,309 5,507 5,731 Non-Recurring Revenue/Savings Total: 5,275 5,085 5,309 5,507 5,731 Plus Beginning Balance June 30th 25,777$ 6,197$ 6,604$ 8,216$ 10,122$ Working Capital Reserve (4,021) (1,460) (1,679) (1,485) (1,685) Emergency Reserve (1,340) (487) (560) (495) (562) Budget Stabilization Reserve (1,340) (487) (560) (495) (562) Compensated Absences Reserve (379) - - - - Adjusted Beginning Balance July 1st 18,695 3,764 3,805 5,742 7,313 Less Non-Recurring Expenses
Proposed One-Time Budget Items (6,771)
Discussion Papers - One-Time (100)
Contributions to CalPERS (5,828) (2,914)
Deposit to 115 Trust (6,357)
Subtotal Non-Recurring Items (19,057) (2,914) - - -
EXCESS/(DEFICIENCY) OF REVENUE
OVER APPROPRIATIONS 4,913$ 5,934$ 9,114$ 11,249$ 13,045$ PLUS RECURRING BALANCE (ABOVE) 1,284$ 669$ (898)$ (1,127)$ (2,661)$ ENDING SPENDABLE FUND BALANCE 6,197$ 6,604$ 8,216$ 10,122$ 10,384$ FORMAL RESERVE BALANCES 61,129$ 63,562$ 66,361$ 68,835$ 73,881$ Attachment 2 - Page 2
Description 2024-25 2025-26 2026-27 2027-28 2028-29
Revenues:
Sales Tax 2.1% 2.7% 2.5% 2.5% 2.5%
Property Taxes 7.4% 5.0% 5.0% 5.0% 5.0%
Utility Users Tax 4.0% 3.5% 3.5% 3.0% 3.0%
Services Charges - Intra City 7.1% 3.0% 3.0% 3.0% 3.0%
Service Charges 12.0% 3.5% 3.5% 3.0% 3.0%
In-Lieu of Tax 4.0% 3.0% 3.0% 2.5% 2.5%
Interest/Use of Money 1.6% 1.5% 1.0% 0.0% 0.0%
Parking/Traffic/Other Fines 8.3% 2.0% 2.0% 2.0% 2.0%
Transient Occupancy Tax 13.0% 5.0% 7.3% 7.3% 5.0%
Building Permits/License Fees (7.6%) 3.5% 3.5% 3.0% 3.0% Transient Parking Tax 3.0% 3.0% 3.0% 3.0% 3.0%
Business Taxes 0.0% 3.0% 3.0% 3.0% 3.0%
Franchise Fees 5.4% 0.0% 0.0% 0.0% 0.0%
Intergovernmental Revenues 29.9% 2.0% 2.0% 2.0% 2.0%
Expenditures:
Salaries & Wages* - - - - -
Utilities 8.5% 5.0% 4.0% 3.0% 3.0%
Contracts/Services/Other 3.0% 3.0% 3.0% 3.0% 3.0%
Internal Service Funds 9.0% 7.0% 5.0% 5.0% 3.0%
*confidential
BUDGET PARAMETERS
Proposed FY 2024-25 Budget
Attachment 2
Attachment 2 - Page 3