Foster City City Council
June 3, 2024

Five Year Forecast as of May 20 Budget Study Session
Projected
2023-24 2024-25 2025-26 2026-27 2027-28 2028-29
Total Revenues 61,468,046$ 61,937,388 $ 61,236,865 $ 61,577,015 $ 62,366,864 $ 63,915,360 $ Expenditures 59,402,377 61,628,999 61,960,288 64,204,190 65,332,549 67,830,491 Net Revenue over (under) expenditures before transfers 2,065,669 308,389 (723,423) (2,627,175) (2,965,685) (3,915,131) Net Transfers In (Out) (6,000,000) (5,750,000) (5,750,000) (5,750,000) (5,750,000) (5,750,000) (3,934,331) (5,441,611) (6,473,423) (8,377,175) (8,715,685) (9,665,131) Opening Fund Balance 58,199,969 54,265,638 48,824,027 42,350,604 33,973,429 25,257,744 Ending Fund Balance (Reserves) 54,265,638 $ 48,824,027 $ 42,350,604 $ 33,973,429 $ 25,257,744 $ 15,592,613 $ Reserve Balance as % of Next Year's Operating Expenditures 88.1% 78.8% 66.0% 52.0% 37.2% 22.4% Five Year Forecast with Added Expenditures
Projected
2023-24 2024-25 2025-26 2026-27 2027-28 2028-29
Total Revenues 61,468,046$ 61,937,388 $ 61,236,865 $ 61,577,015 $ 62,366,864 $ 63,915,360 $ Expenditures 59,402,377 61,628,999 61,960,288 64,204,190 65,332,549 67,830,491 Additional expenditures, due to COLA - 142,028 144,511 149,602 154,571 158,153 Revised Expenditures 59,402,377 61,771,027 62,104,799 64,353,792 65,487,120 67,988,644 Net Revenue over (under) expenditures before transfers 2,065,669 166,361 (867,934) (2,776,777) (3,120,256) (4,073,284) Net Transfers In (Out) (6,000,000) (5,750,000) (5,750,000) (5,750,000) (5,750,000) (5,750,000) (3,934,331) (5,583,639) (6,617,934) (8,526,777) (8,870,256) (9,823,284) Opening Fund Balance 58,199,969 54,265,638 48,681,999 42,064,065 33,537,288 24,667,032 Ending Fund Balance (Reserves) 54,265,638$ 48,681,999 $ 42,064,065 $ 33,537,288 $ 24,667,032 $ 14,843,748 $ Reserve Balance as % of Next Year's Operating Expenditures 87.8% 78.4% 65.4% 51.2% 36.3% 21.3% Net Surplus (Deficit) in Fund Balance, as of 5/20/2024 Budget Study Session
City of Foster City, California
General Fund (Funds 001 to 003)
Preliminary Five Year Financial Plan FY 2024-25 to FY 2028-29, as of 6/3/2024 |--------------------------Five Year Financial Plan-----------------------------| Net Surplus (Deficit) in Fund Balance
City of Foster City, California
General Fund (Funds 001 to 003)
Preliminary Five Year Financial Plan FY 2024-25 to FY 2028-29, as of 5/20/2024 |--------------------------Five Year Financial Plan-----------------------------|