FINANCIAL
SERVICES
Fiscal Year 2024-25
Proposed Budget
Public Hearing and Adoption
June 4, 2024
1 Budget Presentation Schedule
2 May 7: Citywide Overview, General Fund, Burbank Water & Power Funds, Water Reclamation & Sewer,
Refuse Collection & Disposal
May 21: Internal Service Funds, Special Revenue Funds, Housing & Parking Authorities, Successor Agency,
Capital Improvement Program, Discussion Papers
June 4: Public Hearing and Adoption of Citywide
Budget and Fee Schedule
FY 2024-25 CITYWIDE BUDGET
Total Appropriations: $869,471,344
3 General Fund,
$258,253,929
Water Reclamation
& Sewer,
$25,640,344
Refuse Collection
& Disposal,
$26,626,862
Electric & Water (BWP),
$382,092,545
Internal Service
Funds, $91,263,960
Special Revenue
Funds, $67,833,756
Housing Authority,
$14,421,027
Parking Authority,
$831,834 Successor Agency,
$2,507,087
City Council Directed Changes to
FY 2024-25 Proposed Budget
No. Dept. Subject Recurring One-Time
1 CM Interpretation Services for City Council Meetings $ 3,000 2 CAO/CDD Housing Enforcement Unit 650,000 100,000
3 CDD Addition of a Business Concierge Coordinator 147,138 4 PR Cultural Affairs Supervisor Position 112,463
5 CDD Metro GO PASS Program for BUSD Students
1 40,410
6 CM Leadership Burbank Funding Request 12,000
7 PR Two-Year Community Event and Program Grant Pilot 100,000 8 PR Burbank Pride, Inc. Family Pride in the Park Event 15,000 Totals: $ 953,011 $ 227,000
1 Funded by AQMD Fund 106
No. Dept. Subject Amount
1 PW Sustainable Burbank Commission Funding
Request
$15,000
(recurring)
2 CDD Expedited Survey and Public Outreach for a
Potential Local Rent Cap in the City of Burbank
$100,000
(one-time)
City Council Requested Budget
Follow-up Items
General Fund 5-Year Forecast
(in millions)
6 Ending GF
Balance: $5.8 $10.0
$246.7
$255.8
$265.5
$275.1
$284.8
$245.4
$255.2
$266.4
$276.3
$287.5
$200
$210
$220
$230
$240
$250
$260
$270
$280
$290
$300
2024-25 2025-26 2026-27 2027-28 2028-29
Revenue Expenses
Balance/
(Deficit): $1.3 $0.7 ($0.9) ($1.1) ($2.7) Proposed Pension Funding Plan
(in 1,000s)
Additional Discretionary Payments (ADP) of $9 million in FY 2024-25 and $4.5 million in FY 2025-26
Contribute $6.4 million from General Fund to Section 115 Trust 7 * Only 50% funded by General Fund
Total 3 Year
Commitment FY 2023-24 FY 2024-25 FY 2025-26
Misc Pension Plan* $ 12,000 $ 3,000 $ 6,000 $ 3,000
Police Pension Plan $ 3,600 $ 900 $ 1,800 $ 900 Fire Pension Plan $ 2,400 $ 600 $ 1,200 $ 600 $ 18,000 $ 4,500 $ 9,000 $ 4,500
Gann Initiative Appropriations Limit
Appropriations Limit $267,350,291
Appropriations Subject to Limitation $186,183,933
Difference $81,166,358
8 Conclusion
The FY 2024-25 Proposed Budget:
Maintains premium City programs and services
Includes strategic enhancements which reflect City
Council goals and priorities
Provides a robust Citywide infrastructure program
Responsibly funds the City’s pension obligations
Fully funds the City’s financial reserves
9 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.
10