City of Camarillo
& Camarillo Sanitary District
FY 2024/25 – Proposed Budget
June 26, 2024
1 FY 2024/25 Proposed Budget
2 • FY 2024/25 Proposed Budget
• GANN Appropriations Limit
• GASB 54 Commitment of Fund Balance
• City and CSD Compensation, Classification and Benefits Program
FY 2024/25 Proposed Budget
3 • Budget development process began in January
• Preliminary Budget review in March
• Budget Workshop May 18: more detailed review
• A Balanced Budget
• Operating Revenues meet or exceed Operating Expenditures
FY 2024/25 Proposed Budget
(Continued)
4 All Citywide
Revenues/Sources:
$136.7 million
FY 2024/25 Proposed Budget
(Continued)
5 All Citywide
Expenditures/Uses:
$161.6 million
FY 2024/25 Proposed Budget
(Continued)
6 General Fund
Revenue:
$60.7 million
FY 2024/25 Proposed Budget
(Continued)
7 General Fund
Expenditures:
$57.9 million
Annual GANN Appropriations Limit
8 • Article XIIIB of the State Constitution limits the amount of taxes that can be appropriated by government
• Required to be set each Fiscal Year
• Annual inflation and population growth factors are applied • Adopt by Resolution
GASB Statement No. 54 (2011)
9 • Requires Categorization/Classification of Fund Balance in the Annual Comprehensive Financial Report (ACFR)
• City Council may commit fund balance for specific purposes by Resolution
• June 30, 2024, General Fund Fund Balance projected to be $92.0 million
• Recommended Commitments total $88.0 million
10 GASB Statement No. 54
11 City/CSD Compensation, Classification
& Benefits Program
• City Council goal: Maintain an effective workforce through competitive salaries, benefits and training
• Consumer Price Index inflation factor: 4% (Mar-Mar, year-over-year) • July 1: 4% cost of living adjustment
• No major changes to benefits structure
• Increase to Cell Phone Allowance and Management Leave for eligible employees
12 Budget-in-Brief
• Suggested at the May 18 Budget Workshop
• A condensed, easier to read document
• Draft document
Recommended Actions: City Council
1. City Council: Adopt a Resolution approving the FY
2024/25 Trolley Operation Budget
2. City Council: Adopt a Resolution approving the FY
2024/25 Budget and authorizing appropriations for FY
2024/25, excluding the Trolley operation
3. City Council: Adopt a Resolution that selects the factors used to calculate the limit and establishes the Fiscal Year 2024/25 Gann Appropriations Limit for the City of
Camarillo at $139,841,666, as calculated
13 Recommended Actions: City Council
4. City Council: Adopt a Resolution to commit $88,036,791 of the Projected General Fund Fund Balance for the
fiscal year ending June 30, 2024
5. City Council: Adopt a Resolution setting the
Compensation, Classification and Benefits Program and
approving a Statement of Understanding for the terms
and conditions of employment for City employees,
effective July 1, 2024
14 Recommended Actions: CSD Board
1. Camarillo Sanitary District: Adopt a Resolution approving the FY 2024/25 Budget and authorizing appropriations
for FY 2024/25
2. Camarillo Sanitary District: Adopt a Resolution setting the Compensation, Classification and Benefits Program and
approving a Statement of Understanding for the terms
and conditions of employment for Camarillo Sanitary
District employees, effective July 1, 2024
15 FY 2024/25 Recommended Budget
16 Questions?
City of Camarillo
Proposed Budget FY 2024/25
June 26, 2024
17