June 6, 2023
City of Fullerton, CA
FY 2023-24 Adoption of Operating Budget, Appropriations Limit & Master Schedule of Fees and Charges 1 Budget Study Session Agenda
Budget Highlights
Changes from FY 2023-24 Budget Study Session
FY 2023-24 Proposed Operating Budget Overview
Capital Improvement Plan (CIP) / Infrastructure
Recommendations
2 Budget Highlights
City’s fiscal condition has improved and is stable.
City’s credit rating of AA affirmed in 2021 during Covid Revenues have increased by 19% since FY 2020-21 and at all time high. 17% Contingency Reserve levels reached in FY 2021-22 and projected to be maintained through FY 2024-25 $14.5 million for Streets in FY 2023-24; up from $11.8 million in FY 2022-23 Proposed Budget includes set aside for Measure M2 Maintenance of Effort to ensure the City continues to receive M2 funding.
Proposed Budget includes City Council direction from 4/18/23 Budget Study Session & subsequent meetings. 3 FY 2023-24 Proposed General Fund Budget
4 Changes from Budget Study Session ~ Revenues
5 4/18/23 Budget Study Session ~ $119.7M General Fund Revenues General Fund Revenue Adjustments of $0.95 Million
Sales Tax Revenues ~ $200,000
Fire User Fees Increases (Approved on 5/2/23)
Current Fire User Fees ~ $509,000
New Fire Fees ~ $240,000
FY 2023-24 Revised Revenue Budget of $120.7 Million
Changes from Budget Study Session ~ Expenditures
6 4/18/23 Budget Study Session ~ $119.7M General Fund Expenditures General Fund Expenditure Adjustments of $1.2 Million
Public Safety ($300,000) ~ Software & Vehicle Lease Program Community Preservation ($260,000) ~ Add’l Homeless Encampment Cleanups and 1.0 FTE Code Enforcement Officer Organizational Efficiency & Sustainability ($460,000) ~ Personnel Costs Community Services & Programs ($190,000) ~ Hunt Library Bridge Program FY 2023-24 Revised Expenditure Budget of $120.9 Million
FY 2023-24 General Fund Revenues of $120.7 Million
7 FY 2023-24 General Fund Expenditures of $120.9 Million 8 Expenditures by Major Program Area
Proposed
FY 23-24
General Government (Administration, Admin Svcs, HR)
8,158,699
Fire
31,543,067
Police
54,718,263
Community & Economic Development
6,155,592
Public Works
10,260,788
Human & Leisure Services (Library and Parks & Rec)
10,048,028
Total General Fund Expenditures
$120,884,437
5-Year General Fund Financial Forecast
9 FY 2023-24 Proposed All Funds Budget of $257.9 Million 10 All Funds by Fund Type
FY 23-24
Proposed
General Fund
120,884,437
Special Revenue Funds
36,150,094
Water Fund (Operating Only)
37,853,377
Other Enterprise Funds (Operating Only)
12,300,226
CIP Program
41,419,550
Successor Agency
9,248,190
All Funds Expenditures Total
$257,855,874
All Funds Revenues Total
$245,960,621
Designated Funds for Capital Projects
21,070,440
All Funds Revenues and Capital Designated
$267,031,061
Proposed Capital Improvements Program (CIP) / Infrastructure Projects
CIP / Infrastructure Projects
CIP / Infrastructure Projects
14 CIP / Infrastructure Projects
Infrastructure Fund
15 Recommendation
Upon conclusion of the Public Hearing, it is recommended that the City Council approve and adopt the following resolutions:
Resolution 2023-XXX - A Resolution of the City Council of the City of Fullerton, California, Approving and Adopting the City of Fullerton’s Operating Budget for Fiscal Year 2023-24 and Appropriating the Funds Necessary to Meet the Expenditures Set Forth Therein.
Resolution 2023-XXX - A Resolution of the City Council of the City of Fullerton, California, Adopting the Annual Appropriations Limit for Fiscal Year 2023-24 Pursuant to Article XIII B of the California State Constitution.
Resolution 2023-XXX - A Resolution of the City Council of the City of Fullerton, California, Adopting the City of Fullerton’s Master Schedule of Fees and Charges for Fiscal Year 2023-24 16 17
Questions