CITY OF CULVER CITY- FINANCIAL FORECAST MODEL - SUMMARY OF SCENARIOS FORECAST (in $ thousands) GENERAL FUND (101)
SCENARIOS FORECAST - SUMMARY (in $ thousands) ACTUAL ADUSTED
BUDGET FORECAST FISCAL YEARS
-1 0 1 2 3 4 5 6 7 8 9 10
Category/Type FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032
REVENUES
Property Taxes 11,831$ 10,511$ 11,257$ 12,037$ 12,609$ 13,222$ 13,864$ 14,519$ 15,189$ 15,874$ 16,575$ 17,292$ Property Transfer Tax 8,533 14,050 14,344 15,030 15,856 16,728 17,648 18,619 19,643 20,723 21,863 23,066 Sales & Use Taxes 37,831 41,834 42,227 43,350 44,203 45,119 46,058 46,927 47,821 48,747 49,683 50,619 Utility User Tax (UUT) 13,185 13,347 13,449 13,575 13,588 13,545 13,502 13,455 13,404 13,351 13,297 13,243 Transient Occupancy Tax (TOT) 3,074 7,304 8,698 9,482 9,879 9,959 10,039 10,118 10,197 10,275 10,352 10,429 Business License/Cannabis Tax 15,895 15,561 16,421 17,191 17,823 18,344 18,853 19,356 19,866 20, 380 20,902 21,428 Other Taxes / Intergovernmental 6,429 12,611 13,368 14,082 14,782 15,531 16,305 17,094 17,898 18,748 19,643 20,573 Franchise Fees 2,299 1,400 1,431 1,463 1,494 1,541 1,588 1,636 1,685 1,735 1,786 1,838 Licenses & Permits 3,169 5,713 6,459 6,788 6,824 6,893 6,906 6,779 6,636 6,582 6,534 6,466 Charges for Services 8,347 9,495 10,274 10,827 11,147 11,493 11,811 12,017 12,215 12,499 12,794 13,074 Cost Recovery, Fines, Earnings & Misc. 16,997 11,394 11,636 11,910 12,186 12,453 12,698 12,936 13,167 13,408 13,659 13,912 Transfers In, Prop & FMV Adj 3,371 (1,890) 1,069 686 (2,142) (2,406) (3,251) (3,392) (2,748) (2,319) (2,181) (2,610) (Prior FY Adjustments - One-Time Revenues/Transfers) (465) - - - - - - - - - - - TOTAL - SCENARIO REVENUES 130,496$ 141,331$ 150,634$ 156,420$ 158,249$ 162,421$ 166,020$ 170,064$ 174,972$ 180,004$ 184,908$ 189,331$
EXPENSES
Salaries & Wages 59,063$ 63,179$ 66,321$ 67,979$ 69,678$ 71,420$ 73,206$ 75,036$ 76,912$ 78,834$ 80,805$ 82,825$ Benefits 15,118 15,647 16,718 17,445 18,180 18,933 19,674 20,416 21,167 21,954 22,795 23,678 Pension & OPEB 24,427 26,250 33,147 33,680 34,486 34,998 35,656 35,809 37,178 38,473 40,046 40,449 Contractual Services 12,137 19,898 21,061 22,318 23,564 24,819 26,031 27,223 28,408 29,631 30,925 32,266 Supplies, Equipment and Other O&M 8,454 9,209 9,588 9,990 10,402 10,827 11,246 11,664 12,084 12,518 12,973 13,444 Insurance & Liability 2,227 1,887 1,958 2,022 2,084 2,146 2,204 2,261 2,316 2,374 2,435 2,498 Debt Service 27 - - - - - - - - - - -
Capital Asset Invest. 923 702 719 739 758 777 794 811 826 843 860 878 Cost Allocation/Internal Charges 1,741 3,379 3,460 3,545 3,630 3,715 3,799 3,883 3,968 4,054 4,143 4,234 Transfers Out, One-Time & Custom Exps. 622 (2,692) 417 3,932 4,386 4,541 4,703 4,871 5,045 5,226 5,414 5,610 (Prior FY Adjustments - One-Time Expenses/Transfers) - - - - - - - - - - - -
TOTAL - SCENARIO EXPENSES 124,739$ 137,457$ 153,390$ 161,650$ 167,168$ 172,177$ 177,314$ 181,973$ 187,904$ 193,907$ 200,398$ 205,883$ Net Prior FY Transfers & One-Time Adjustments 465 2,476 - - - - - - - - - - ANNUAL OPERATING SURPLUS/(DEFICIT) 6,222 6,349 (2,756) (5,230) (8,919) (9,756) (11,294) (11,909) (12,932) (13,903) (15,490) (16,553) FUND(S) BALANCE - END OF FY 108,808$ 115,157$ 112,401$ 107,171$ 98,252$ 88,496$ 77,202$ 65,293$ 52,361$ 38,458$ 22,968$ 6,416$ Non-spendable 14,766 14,766 14,766 14,766 14,766 14,766 14,766 14,766 14,766 14,766 14,766 6,416 Pension Trust (Restricted) 13,875 14,431 14,431 13,955 13,555 13,155 12,505 11,705 9,955 7,735 4,480 556 Reserves (Committed) 53,002 60,753 62,518 62,104 59,689 56,848 49,931 38,822 27,640 15,957 3,722 - Contingency 39,743 41,237 46,017 48,495 50,150 51, 653 49,931 38,822 27,640 15,957 3,722 - Facility planning 11,632 17,889 14,875 11,982 7,912 3,569 - - - - - - Recreation facilities 1,627 1,627 1,627 1,627 1,627 1,627 - - - - - - Encumbered Contracts (Assigned) 5,234 - - - - - - - - - - - Undesignated 21,930 25,207 20,685 16,346 10,242 3,727 - - - - - -
ATTACHMENT 3