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 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033
REVENUES
Property Taxes 12,897$ 13,244$ 14,120$ 14,776$ 15,475$ 16,218$ 16,986$ 17,769$ 18,570$ 19,387$ 20,224$ 21,079$ Property Transfer Tax 32,575 11,000 13,529 13,956 14,444 14,950 15,473 16,014 16,575 17,238 17,772 18,323 Sales & Use Taxes 43,415 43,464 43,865 44,837 45,846 46,754 47,686 48,512 49,323 50,174 51,068 51,970 Utility User Tax (UUT) 14,859 15,413 15,539 15,692 15,735 15,893 16,052 16,212 16,374 16,538 16,703 16,871 Transient Occupancy Tax (TOT) 8,813 10,835 11,753 12,157 12,375 12,598 12,699 13,054 12,950 13,054 13,158 13,263 Business License/Cannabis Tax 16,186 16,000 24, 000 24,912 25,585 26,319 27,035 27,744 28,459 29,182 29,916 30,654 Other Taxes / Intergovernmental 8,395 7,987 8,475 8,856 9,311 9,803 10,322 10,838 11,358 11,908 12,495 13,110 Franchise Fees 1,456 1,475 1,502 1,530 1,576 1,617 1,658 1,701 1,744 1,788 1,832 1,878 Licenses & Permits 5,647 4,642 5,107 5,132 5,466 5,847 6,217 6,489 6,760 7,130 7,523 7,913 Charges for Services 12,083 11,151 11,162 11,486 11,791 12,105 12,402 12,609 12,815 13,096 13,384 13,661 Cost Recovery, Fines, Earnings & Misc. 17,162 12,696 13,406 13,715 13,989 14,269 14,554 14,845 15,142 15,445 15,754 16,069 Transfers In, Prop & FMV Adj (1,053) 3,434 4,194 4,117 4,117 3,550 3,700 6, 150 6,900 7,375 7,300 7,300 (Prior FY Adjustments - One-Time Revenues/Transfers) 5,456 - - - - - - - - - - - TOTAL - SCENARIO REVENUES 177,891$ 151,341$ 166,653$ 171,166$ 175,710$ 179,922$ 184,783$ 191,938$ 196,970$ 202,314$ 207,130$ 212,091$
EXPENSES
Salaries & Wages 60,529$ 65,292$ 69,198$ 71,357$ 73,497$ 75,335$ 77,218$ 79,149$ 81,127$ 83,156$ 85,235$ 87,365$ Benefits 13,896 17,042 18,314 18,877 19,712 20,462 21,255 22,049 22,853 23,695 24,594 25,538 Pension & OPEB 25,824 28,330 34,576 35,399 35,997 36,664 36,817 38,199 39,496 41,074 41,472 41,786 Contractual Services 14,422 24,337 19,299 20,536 21,563 22,805 23,945 25,143 26,343 27,588 28,908 30,281 Supplies, Equipment and Other O&M 9,503 10,595 11,954 12,466 12,990 13,540 13,946 14,481 14,915 15,466 16,044 16,643 Insurance & Liability 1,887 3,317 3,418 3,530 3,638 3,746 3,848 3,947 4,044 4,144 4,251 4,361 Debt Service 21 - - - - - - - - - - -
Capital Asset Invest. 806 610 455 467 479 491 502 512 522 533 544 555 Cost Allocation/Internal Charges 3,131 4,090 4,172 4,283 4,395 4,507 4,618 4,729 4,788 4,901 5,018 5,137 Transfers Out, One-Time & Custom Exps. 8,311 (6,445) 4,413 5,148 5,331 5,521 5,719 5,924 6,136 6,357 6,586 6,824 (Prior FY Adjustments - One-Time Expenses/Transfers) 26 - - - - - - - - - - -
TOTAL - SCENARIO EXPENSES 138,354$ 147,168$ 165,799$ 172,063$ 177,603$ 183,071$ 187,869$ 194,133$ 200,226$ 206,914$ 212,651$ 218,491$ Net Prior FY Transfers & One-Time Adjustments (5,429) (10,167) - - - - - - - - - - ANNUAL OPERATING SURPLUS/(DEFICIT) 34,107 4,173 854 (897) (1,893) (3,149) (3,086) (2,195) (3,256) (4,600) (5,521) (6,400) FUND(S) BALANCE - END OF FY 142,915$ 136,921$ 137,774$ 136,877$ 134,984$ 131,834$ 128,748$ 126,554$ 123,297$ 118,698$ 113,177$ 106,777$ Non-spendable 14,871 14,871 14,871 14,871 14,871 14,871 14,871 14,871 14,871 14,871 14,871 14,871 Pension Trust (Restricted) 27,051 27,051 25,574 24,174 22,774 21,124 19,324 15,074 10,074 4,599 - 7,127 Reserves (Committed) 69,501 66,279 70,565 71,893 72,693 73,078 73,427 75,376 77,171 78,725 79,389 75,029 Contingency 43,853 44,151 49,740 51,619 53,281 54, 921 56,361 58,240 60,068 62,074 63,795 65,547 Facility planning 23,859 20,339 19,036 18,485 17,623 16,367 15,277 15,347 15,314 14,861 13,804 7,693 Recreation facilities 1,789 1,789 1,789 1,789 1,789 1,789 1,789 1,789 1,789 1,789 1,789 1,789 Encumbered Contracts (Assigned) 6,527 - - - - - - - - - - - Undesignated 24,966 28,720 26,765
25,939 24,646 22,762 21,126 21,232 21,181 20,503 18,917 9,750 ATTACHMENT 3