2024-25 2025-26 2026-27 2027-28 2028-29
Recurring Items:
Revenues
Sales Tax 64,412 63,381 63,077 64,957 66,971 Property Taxes 78,626 82,557 86,685 91,019 95,570 Utility Users Tax 19,639 20,864 22,644 23,437 24,257 Services Charges - Intra City 15,657 17,254 18,117 18,841 19,501 Services Charges 27,859 28,834 29,843 30,738 31,661 In Lieu of Tax 9,893 10,743 11,925 12,342 12,774 Interest/Use of Money 4,818 4,915 4,988 5,038 5,089 Parking/Traffic/Other Fines 2,601 2,679 2,759 2,842 2,927 Transient Occupancy Tax 13,853 14,407 14,983 16,070 17,235 Building Permits/License Fees 6,902 7,178 7,465 7,727 7,997 Transient Parking Tax 4,701 4,842 5,036 5,237 5,447 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$ 263,269$ 273,260$ 284,111$ 295,418$ Expenditures
City Council (1,610)$ (1,727)$ (1,809)$ (1,881)$ (1,933)$ City Manager (3,039) (3,273) (3,415) (3,507) (3,592) City Clerk (1,961) (2,111) (2,204) (2,269) (2,325) City Treasurer (1,078) (1,161) (1,211) (1,245) (1,275) City Attorney (6,272) (6,761) (7,049) (7,224) (7,394) Management Services (7,969) (8,575) (8,956) (9,234) (9,466) Financial Services (7,527) (8,107) (8,459) (8,689) (8,899) Parks & Recreation (34,843) (37,444) (39,154) (40,533) (41,595) Library Services (9,711) (10,452) (10,914) (11,242) (11,522) Community Development (17,470) (18,798) (19,632) (20,236) (20,743) Public Works (20,501) (22,047) (23,038) (23,791) (24,399) Fire (49,490) (53,146) (56,091) (58,417) (61,234) Police (74,790) (80,550) (84,620) (87,886) (91,476) Non-Departmental (9,394) (7,295) (8,128) (8,971) (10,889) Total General Fund Expenditures (245,652) (261,446) (274,680) (285,126) (296,740) RECURRING BALANCE SUBTOTAL 8,804$ 1,824$ (1,420)$ (1,015)$ (1,322)$ RECURRING BALANCE / (DEFICIT) 8,804$ 1,824$ (1,420)$ (1,015)$ (1,322)$
PROJECTED
Attachment 4
General Fund
Financial Forecast FY 2024-25 through FY 2028-29
Mid-Year FY 2024-25
(Amounts in Thousands)
Attachment 4 - Page 1
2024-25 2025-26 2026-27 2027-28 2028-29
PROJECTED
Attachment 4
General Fund
Financial Forecast FY 2024-25 through FY 2028-29
Mid-Year FY 2024-25
(Amounts in Thousands)
Non-Recurring Revenue/Savings Items:
Non-Recurring Revenue/Resources 485$
Estimated Annual Budget Savings 4,913 5,229 5,494 5,703 5,935 Non-Recurring Revenue/Savings Total: 5,398 5,229 5,494 5,703 5,935 Plus Beginning Balance June 30th 43,577$ 28,665$ 23,734$ 18,525$ 16,979$ Working Capital Reserve (4,192) (2,369) (1,985) (1,567) (1,742) Emergency Reserve (1,397) (790) (662) (522) (581) Budget Stabilization Reserve (1,397) (790) (662) (522) (581) Compensated Absences Reserve (379)
Adjusted Beginning Balance July 1st 36,211 24,717 20,425 15,914 14,075 Less Non-Recurring Expenses
One-Time Budget Items (7,213) (1,073) (1,950) (2,600) (2,125) Contributions to CalPERS (5,828) (2,914)
Deposit to 115 Trust (6,357) (4,049) (4,024) (1,022) Items Added Post Budget Adoption (1,370)
Mid-Year Budget Requests (979)
Subtotal Non-Recurring Items (21,748) (8,036) (5,974) (3,622) (2,125)
EXCESS/(DEFICIENCY) OF REVENUE
OVER APPROPRIATIONS 19,861$ 21,910$ 19,945$ 17,994$ 17,885$ PLUS RECURRING BALANCE (ABOVE) 8,804$ 1,824$ (1,420)$ (1,015)$ (1,322)$ ENDING SPENDABLE FUND BALANCE 28,665$ 23,734$ 18,525$ 16,979$ 16,563$ FORMAL RESERVE BALANCES 61,413$ 65,361$ 68,670$ 71,281$ 76,746$ Attachment 4 - Page 2
Description 2024-25 2025-26 2026-27 2027-28 2028-29
Revenues:
Sales Tax 2.1% (1.6%) (0.5%) 3.0% 3.1%
Property Taxes 12.6% 5.0% 5.0% 5.0% 5.0%
Utility Users Tax 4.0% 6.2% 8.5% 3.5% 3.5%
Services Charges - Intra City 7.1% 10.2% 5.0% 4.0% 3.5% Service Charges 22.5% 3.5% 3.5% 3.0% 3.0%
In-Lieu of Tax 4.0% 8.6% 11.0% 3.5% 3.5%
Interest/Use of Money 13.4% 2.0% 1.5% 1.0% 1.0%
Parking/Traffic/Other Fines 8.3% 3.0% 3.0% 3.0% 3.0%
Transient Occupancy Tax 13.0% 4.0% 4.0% 7.3% 7.3%
Building Permits/License Fees 3.7% 4.0% 4.0% 3.5% 3.5%
Transient Parking Tax 10.0% 3.0% 4.0% 4.0% 4.0%
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
Mid-Year FY 2024-25
Attachment 4
Attachment 4 - Page 3