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 78,626 82,557 86,685 91,019 95,570 Utility Users Tax 19,639 20,326 21,038 21,669 22,319 Services Charges - Intra City 15,657 16,205 16,772 17,275 17,794 Services Charges 27,859 28,834 29,843 30,738 31,661 In Lieu of Tax 9,893 10,190 10,495 10,758 11,027 Interest/Use of Money 4,818 4,890 4,939 4,989 5,039 Parking/Traffic/Other Fines 2,601 2,653 2,706 2,760 2,815 Transient Occupancy Tax 13,853 14,546 15,273 16,380 17,568 Building Permits/License Fees 6,902 7,144 7,394 7,616 7,844 Transient Parking Tax 4,701 4,842 4,987 5,137 5,291 Business Taxes 2,464 2,538 2,614 2,693 2,773 Franchises 1,520 1,535 1,550 1,566 1,581 Intergovernmental Revenues 1,511 1,541 1,572 1,604 1,636 Total General Fund Revenues 254,456$ 263,981$ 273,704$ 283,733$ 294,186$ Expenditures
City Council (1,610)$ (1,729)$ (1,811)$ (1,884)$ (1,936)$ City Manager (3,039) (3,283) (3,426) (3,518) (3,602) City Clerk (1,961) (2,116) (2,210) (2,275) (2,332) City Treasurer (1,078) (1,164) (1,215) (1,248) (1,278) City Attorney (6,272) (6,783) (7,073) (7,248) (7,418) Management Services (7,969) (8,596) (8,978) (9,257) (9,489) Financial Services (7,527) (8,132) (8,485) (8,716) (8,926) Parks & Recreation (34,843) (37,517) (39,231) (40,611) (41,675) Library Services (9,711) (10,479) (10,942) (11,272) (11,552) Community Development (17,470) (18,846) (19,683) (20,288) (20,796) Public Works (20,501) (22,098) (23,091) (23,845) (24,454) Fire (49,490) (53,162) (56,107) (58,434) (61,251) Police (74,790) (80,597) (84,670) (87,936) (91,527) Non-Departmental (9,394) (8,310) (9,144) (9,988) (11,906) Total General Fund Expenditures (245,652) (262,815) (276,065) (286,520) (298,143) RECURRING BALANCE SUBTOTAL 8,804$ 1,166$ (2,361)$ (2,786)$ (3,957)$ RECURRING BALANCE / (DEFICIT) 8,804$ 1,166$ (2,361)$ (2,786)$ (3,957)$
PROJECTED
Attachment 2
General Fund
Financial Forecast FY 2024-25 through FY 2028-29
First Quarter FY 2024-25
(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
First Quarter FY 2024-25
(Amounts in Thousands)
Non-Recurring Revenue/Savings Items:
Non-Recurring Revenue/Resources 485$
Estimated Annual Budget Savings 4,913 5,256 5,521 5,730 5,963 Non-Recurring Revenue/Savings Total: 5,398 5,256 5,521 5,730 5,963 Plus Beginning Balance June 30th 43,577$ 31,014$ 22,094$ 21,942$ 22,272$ Working Capital Reserve (4,192) (2,574) (1,987) (1,568) (1,744) Emergency Reserve (1,397) (858) (662) (523) (581) Budget Stabilization Reserve (1,397) (858) (662) (523) (581) Compensated Absences Reserve (379)
Adjusted Beginning Balance July 1st 36,211 26,723 18,782 19,328 19,366 Less Non-Recurring Expenses
Adopted One-Time Budget Items (7,213)
Contributions to CalPERS (5,828) (2,914)
Deposit to 115 Trust (6,357) (8,138)
Subtotal Non-Recurring Items (19,399) (11,052) - - -
EXCESS/(DEFICIENCY) OF REVENUE
OVER APPROPRIATIONS 22,210$ 20,928$ 24,303$ 25,058$ 25,329$ PLUS RECURRING BALANCE (ABOVE) 8,804$ 1,166$ (2,361)$ (2,786)$ (3,957)$ ENDING SPENDABLE FUND BALANCE 31,014$ 22,094$ 21,942$ 22,272$ 21,372$ FORMAL RESERVE BALANCES 61,413$ 65,704$ 69,016$ 71,630$ 76,894$ 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 12.6% 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% 3.5% 3.5% 3.0% 3.0%
Service Charges 22.5% 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 13.4% 1.5% 1.0% 1.0% 1.0%
Parking/Traffic/Other Fines 8.3% 2.0% 2.0% 2.0% 2.0%
Transient Occupancy Tax 13.0% 5.0% 5.0% 7.3% 7.3%
Building Permits/License Fees 3.7% 3.5% 3.5% 3.0% 3.0%
Transient Parking Tax 10.0% 3.0% 3.0% 3.0% 3.0%
Business Taxes 0.0% 3.0% 3.0% 3.0% 3.0%
Franchise Fees 5.4% 1.0% 1.0% 1.0% 1.0%
Intergovernmental Revenues 41.6% 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
First Quarter FY 2024-25
Attachment 2
Attachment 2 - Page 3