CITY OF CULVER CITY- FINANCIAL FORECAST MODEL - SCENARIOS FORECAST MIDYEAR PROJECTIONS - WV REMOVED IN 2028; JUBILO $4M 2025 & $12M 2027; SALE OF GUN STORE 2028; LA COUNTY - EXODUS 2028 GENERAL FUND (101)
SCENARIOS FORECAST - SUMMARY (in $ thousands) ACTUAL CURRENT
FISCAL YEAR FORECAST FISCAL YEARS
-1 0 1 2 3 4 5 6 7 8 9 10
Category/Scenario FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 FY 2035
REVENUES
1 Property Taxes 15,531 16,635 17,441 18,250 19,155 20,056 20,946 21,838 22,820 23,767 24,797 25,917 2 Property Transfer Tax 7,382 4,000 4,375 4,729 5,129 5,336 5,552 5,751 5,952 6,145 6,352 6,583 3 Sales & Use Taxes 41,197 41,167 42,469 43,732 45,006 46,439 47,907 49,405 50,989 48,995 39,605 40,992 4 Utility User Tax (UUT) 16,460 17,101 17,515 17,725 18,040 18,329 18,606 18,897 19,210 19,511 19,833 20,266 5 Transient Occupancy Tax (TOT) 12,533 12,800 13,494 14,230 14,904 15,576 16,183 16,808 17,468 18,113 18,795 19,545 6 Business License & Cannabis Tax 31,319 31,650 32,562 33,465 34,341 35,273 36,220 37,186 38,202 39,193 40,216 41,465 7 Other Taxes & Intergovernmental 8,461 8,623 9,025 9,424 9,823 10,189 10,590 11,012 11,455 11,891 12,351 12,855 8 Franchise Fees 2,082 1,800 1,837 1,875 1,912 1,950 2,006 2,064 2,123 2,182 2,242 2,303 9 Licenses & Permits 3,813 3,666 4,344 4,452 4,564 4,604 4,627 4,654 4,675 4,707 4,740 4,795 10 Charges for Services 10,246 10,635 12,326 12,634 12,950 13,177 13,368 13,569 13,770 13,980 14,197 14,450 11 Cost Recovery, Fines, Earnings & Misc. 18,600 15,491 15,893 16,299 16,711 17,098 17,507 17,928 18,377 18,809 19,271 19,787 12 Annual Transfers In & Variable Revenues 3,381 4,216 2,960 2,160 2,160 2,160 2,160 2,160 2,160 2,160 2,160 2,160 13 One-Time Revenues & Adjustments 7,370 1,400 1,400 1,400 2,696 1,800 4,250 4,500 4,500 4,500 2,685 - (Less One-Time Revenues & Adjustments) (7,370) (1,400) (1,400) (1,400) (1,650) (1,800) (4,250) (4,500) (4,500) (4,500) (2,685) - TOTAL - SCENARIO REVENUES 171,005 $
167,783 $ 174,242 $ 178,974 $ 185,739 $ 190,186 $ 195,673 $ 201,273 $ 207,200 $ 209,454 $ 204,563 $ 211,117 $
EXPENSES
20 Salaries & Wages 71,623 76,538 78,528 80,491 82,503 84,566 87,103 89,716 92,408 94,718 97,086 99,513 21 Benefits 17,970 20,354 21,049 21,713 22,386 23,074 23,861 24,682 25,561 26,369 27,236 28,203 22 Pension & OPEB 29,788 34,197 37,118 38,278 39,251 41,089 41,669 42,267 41,792 41,681 40,622 40,198 23 Contractual Services (labor) 16,181 13,945 14,501 15,072 15,643 16,166 16,733 17,327 17,977 18,598 19,272 20,018 24 Operating Supp. & Equip. (non-labor) 11,389 10,454 11,013 11,397 11,784 12,157 12,554 12,961 13,390 13,809 14,251 14,735 25 Insurance & Liability 1,936 2,295 2,350 2,405 2,460 2,509 2,562 2,616 2,675 2,731 2,791 2,860 26 Debt Service 270 - - - - - - - - - - - 27 Capital Asset Investments (non-CIP) 1,450 1,175 1,222 1,270 1,318 1,362 1,410 1,460 1,515 1,567 1,625 1,690 28 Cost Allocation & Internal Charges 4,303 5,065 5,260 5,457 5,654 5,840 6,036 6,236 6,448 6,654 6,872 7,113 29 Annual Transfers Out & Variable Expenses 22,177 30,119 13,945 26,275 6,441 6,651 6,875 7,107 7,357 7,592 7,847 8,139 30 One-Time Expenses & Adjustments 3,297 - - - - - - - - - - - (Less One-Time Expenses & Adjustments) (3,297) - - - - - - - - - - - TOTAL - SCENARIO EXPENSES 177,088 $
194,142 $ 184,984 $ 202,359 $ 187,441 $ 193,416 $ 198,803 $ 204,373 $ 209,123 $ 213,719 $ 217,600 $ 222,469 $ Net One-Time Revenues and Expenses 4,073 1,400 1,400 1,400 1,650 1,800 4,250 4,500 4,500 4,500 2,685 - ANNUAL OPERATING SURPLUS/(DEFICIT) (2,009) $ (24,959) $ (9,342) $ (21,985) $ (52) $ (1,430) $ 1,119 $ 1,400 $ 2,577 $ 235 $ (10,352) $ (11,352) $ (Less Budgeted Encumbrances & Carryovers from Prior FY) 13,963 FUND(S) BALANCE - END OF FY 151,381 $ 112,459 $ 103,117 $ 81,131 $ 81,079 $ 79,649 $ 80,769 $ 82,168 $ 84,746 $ 84,981 $ 74,629 $ 63,277 $ Non-spendable 15,631 15,631 15,631 15,631 15,631 15,631 15,631 15,631 15,631 15,631 15,631 15,631 Pension Trust (Restricted) 31,556 30,156 28,756 27,356 25,706 23,906 19,656 15,156 10,656 6,156 3,471 3,471 Reserves (Committed) 73,799 64,850 58,730 38,144 39,742 40,112 45,482 51,382 58,459 63,194 55,527 44,176 Encumbered Contracts (Assigned) 13,963 1,822 - - - - - - - - - - UNDESIGNATED FUND BALANCE 16,432 $
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