Goleta City Council
September 17, 2024

CPMS
Agenda Item A.2

CONSENT CALENDAR
Meeting Date: September 17, 2024
TO: Mayor and Councilmembers
SUBMITTED BY: Luke Rioux, Finance Director
PREPARED BY: Tony Gonzalez, Accounting Manager
Shawna Stokes, Budget Analyst
SUBJECT: Fiscal Year 2023/24 Fourth Quarter (Year-End) Financial Review (Unaudited)
RECOMMENDATION:

A. Adopt Resolution No. 24 -__ entitled, “A Resolution of the City Council of the City of Goleta, California, Amending the City of Goleta Operating and CIP Budget for Fiscal Year 2023/24.”
B. Approve Donation Acceptance Form attached as Attachment 7 to accept a $25,000 donation from the Sterling Price Living Trust for general library services at Solvang Library and authorize staff to take any incidental actions related thereto.

BACKGROUND:

This report provides a financial update on the City’s preliminary actual revenue and expenditure activity through the fourth quarter of the Fiscal Year (FY) 2023/24 Operating and Capital Improvement Program (CIP) Budget, which was adopted on June 20, 2023, as part of the two-year FY 2023/24 and FY 2024/25 budget plan . The information in this report is preliminary and provides a review of the revenue and expenditure activi ty from July 1, 2023 through June 30, 2024, and other relevant financial information. Additionally, this report recommends various adjustments to the adopted budget.

All numbers presented in this report are unaudited and may change upon completion of the independent year-end audit that is currently underway. Staff expects modifications, if any, to be minor and immaterial. The auditors and staff will present the final audited FY 2023/24 Annual Comprehensive Financial Report (ACFR) at the completion of the audit and financial statement preparation, targeted for December 2024.

DISCUSSION:
1 Meeting Date: September 17, 2024

General Fund Budget Summary:

Table 1 summarizes the General Fund’s past three fiscal year activity, current FY 2023/24 budget, and year-to-date actuals.

Table 1 - General Fund Budget Summary (Budget to Actual Comparison)

Table 2 summarizes the General Fund’s original adopted budget, current budget, and recommended amendments.

Table 2 - General Fund Budget Summary and Amendments

FY 2023/24 Adopted Budget Recap

The FY 2023/24 Adopted Budget was approved on June 20, 2023, with total expenditures at $46. 5 million. The adopted budget included adjusting revenues to capture the new transaction and use tax that went into effect on January 1, 2024. The adopted budget also included increasing expenditures related to the Sheriff’s contract, homelessness programs, community center, two new positions (a Facilities and Fleet Coordinator and Assistant Planner), pavement maintenance, concrete maintenance, and n ew one-time funds for capital projects.

FY 2023/24 Current Budget Recap and Year-End Recommended Amendments

 Revenues: The FY 2023/24 Current Revenue Budget is at $45.4 million. Staff recommends a year-end cleanup adjustment, resulting in a net decrease of $1.5 FY 2020/21 FY 2021/22 FY 2022/23 Prior Year
Year End
Actuals
Year End
Actuals
Year End
Actuals
Current
Budget
Year End
Actuals
%
Realized
Year End
% Chg
Revenues and Other Sources 41,007,446$ 37,623,480$ 38,357,365$ 45,420,572$ 45,602,892$ 100.4% 18.9% Operating Expenditures 24,225,764$ 30,895,556$ 36,998,432$ 48,507,353$ 38,337,441$ 79.0% 3.6% Capital Expenditures 1,266,975$ 251,642$ 1,258,615$ 17,913,121$ 1,996,148$ 11.1% 58.6% Total Expenditures 25,492,739$ 31,147,198$ 38,257,047$ 66,420,474$ 40,333,589$ 60.7% 5.4% Net Change to Fund Balance 15,514,707$ 6,476,282$ 100,318$ (20,999,902)$ 5,269,303$ Beginning Fund Balance 17,277,951$ 32,792,658$ 39,268,940$ 39,369,258$ 39,369,258$ Ending Fund Balance 32,792,658$ 39,268,940$ 39,369,258$ 18,369,356$ 44,638,561$ Category
FY 2023/24
Category
2023/24
Adopted Budget
2023/24
Current Budget
Recommended
Amendments
2023/24
Amended Budget
Revenues and Other Sources 42,113,909$ 45,420,572$ (1,471,989)$ 43,948,583$ Operating Expenditures 44,635,898$ 48,507,353$ (55,000)$ 48,452,353$ Capital Expenditures 1,825,472$ 17,913,121$ (1,540,199)$ 16,372,922$ Total Expenditures 46,461,370$ 66,420,474$ (1,595,199)$ 64,825,275$ Net Change to Fund Balance (4,347,461)$ (20,999,902)$ 123,210$ (20,876,692)$ Beginning Fund Balance 39,369,258$ 39,369,258$ -$ 39,369,258$ Ending Fund Balance 35,021,797$ 18,369,355$ 123,210$ 18,492,566$ 2 Meeting Date: September 17, 2024

million for total revenues of $43.9 million. Compared to the original adopted revenue budget of $42.1 million, the final revenue budget increased by $1.8 million.

 Expenditures: The FY 2023/24 Current Budget is $66.4 million. Staff recommends various year-end cleanup adjustments, resulting in a net decrease of $1.6 million. When compared to the original adopted budget of $46.5 million, the final expenditure budget will have increased by $18.38 million. The $18.38 million increase in expenditures includes the following:

o The one -time carryover budget of $12.5 million (supported by the fund balance of the General Fund), which was detailed in the Q1 Financial Report taken to City Council on December 19, 2023.

o New appropriations of $7.4 million authorized by the City Council since July 1, 2023. The City Council has approved various new expenditure budget appropriations totaling approximately $7.4 million. Of the $7.4 million, $6.6 million was programmed for Project Connect. Other new one-time appropriations include additional funding needed for Library Facilities Improvement Program, HVAC Equipment and Services, Ellwood Beach Drive Draining Repair project, and the Goleta Train Depot.

FY 2023/24 Q4 – General Fund Recommended Amendments Summary:

Staff is recommending various year-end budget adjustments , which are all cleanup adjustments. Cleanup adjustments are recommended adjustments to properly account for funds for financial reporting as we prepare for our year -end audit. The cleanup adjustment includes a net decrease of $ 1.5 million in revenues and a net decrease of $1.6 million in expenditures. These adjustments are summarized below and further described in the “General Fund – Revenue Analysis” and “General Fund – Expenditure – Analysis” sections below. In addition, line-item details of recommended adjustments can be found in Attachment 5 – Exhibit A.

 Revenues: Staff recommends a net decrease of $1.5 million in revenues, which includes the following cleanup adjustments listed below:

o $128,210 increase in Other Sources, related to a cleanup adjustment with Fund 233, related to the LED Street Lighting Project (CIP Project No. 9056) and the timing of SCE grant reimbursement expenditures in FY 21/22.

o $(54,212.06) decrease to Penalties and Costs on Delinquent Taxes and transferring $54,212.06 to Administrative Citations . This cleanup adjustment will increase transparency on revenue activity.

o $(1.6 million) decrease in miscellaneous revenue related to a traffic impact settlement payment for development with the City of Santa Barbara, which will now be reflected in the Developer Agreement Fund 3 Meeting Date: September 17, 2024

(Fund 231). This will ensure funds are restricted fo r their specific purpose and accounted for properly. A related $1.6 adjustment in General Fund expenditures is also recommended.

 Expenditures: Staff recommends a net decrease of $ 1.6 million in expenditures, which includes the following cleanup adjustments listed below:

o $(60,000) decrease to General Services Maintenance-Facilities and $60,000 increase to the City Hall Improvements Project (CIP Project No. 9101) to cover the City Hall carpet replacement. This type of cost is best reflected in the project budget, due to it being project and asset related.

o $5,000 increase to Library related to the Las Aletas Donation for Operation Bookshelf, GVL Large Print materials & Books on CD audiobooks. A revenue appropriation is not needed.

o $41,728.81 increase to the Cathedral Oaks Crib Wall Interim Repair Project (CIP Project No. 9053) . This increase is supported by budget transfers from completed and inactive CIP projects, which include $(30,295.55) from the LED Street Lighting Pr oject (CIP Project No. 9056) and $( 11,433.26) from Rectangular Rapid Flashing Beacons (RRFB) Improvements at School Crosswalks (CIP Project No. 9088).

o $(1.6 million) decrease as a portion of Project Connect was supported by the settlement payment mentioned above. This adjustment will not change the overall project budget but will true up the funding sources with the General Fund and show $1.6 million now be reflected in the Developer Agreement Fund (Fund 231).

Attachment 1 provides the General Fund Statement of Revenues & Expenditures, which summarizes the major revenue and expenditure categories by department with recommended amendments.

General Fund Revenue Analysis (Unaudited):

The tables presented in this section include budget -to-actual comparisons between the current fiscal year and the previous three fiscal year's year-end actuals.

Historically, property tax, sales tax , and transient occupan cy tax have been the City’s primary sources of tax revenues, collectively accounting for over 80% of total General Fund revenues. However, with the new transaction and use tax that went into effect on January 1, 2024, the City now has four major tax revenue streams.

Table 3 summarizes the year -end budget-to-actual performance through the fourth quarter. The table below briefly discusses the significant revenue variances and an analysis of current trends.

4 Meeting Date: September 17, 2024

Table 3 – General Fund FY 2023/24 Revenues through Q4 (June 30)

Property Tax

Property tax is the second largest revenue source for the City as it accounts for 21.3% of total General Fund revenues, and it remains the most stable. This category is composed of three payment types – (1) the “Traditional” Property Tax, which is received in large part during the months of December and April ; (2) the Property Tax in Lieu of Motor Vehicle License Fees (MVLF), which is received in two payments during January and May , and (3) the monthly Documentary Transfer Tax revenue, which is derived from changes in ownership of real property and assessed value. The City shares half (50%) of its property tax allocation with the County of Santa Barbara, per the Revenue Neutrality Agr eement (RNA). The amount shared with the County is estimated to be approximately $4.0 million this fiscal year.

Total property tax revenue for the fiscal year was $9.7 million, exceeding budget projections by $270,171 or 2.9%. On an actual basis, compare d to the prior fiscal year, property tax revenues increased by $ 366,295 or 3.9%. This increase was due to RDA pass-through payments related to the bond refunding of the former RDA successor agency bonds and rising assessed property values.

Sales Tax (1% Bradley-Burns)

Sales tax collections are projected to be the third largest revenue source for the City at $8.7 million and account for 19% of total General Fund revenues. Sales tax is considered one of the City’s more volatile revenue sources due to its reliance on consumer behavior and business activity. The City does not receive its full 1% sales tax (also known as Bradley-Burns) allocation of the 7.75% (now 8.75%) sales tax rate that is normally allocated to cities. The City shares 30% of the 1% sales tax revenues with the County of Santa Barbara, per the RNA. The amount projected to be shared this fiscal year is approximately $3.7 million.

The City’s sales tax base is derived from several primary industry categories, including General Consumer G oods, with a dominant share at an average of 21%. The General FY 2020/21 FY 2021/22 FY 2022/23 Prior Year
Year End
Actuals
Year End
Actuals
Year End
Actuals
Current
Budget
Year End
Actuals
%
Realized
Year End
% Chg
Property Taxes 8,237,033 8,655,521 9,332,590 9,428,714 9,698,885 102.9% 3.9% Sales Taxes 7,585,649 8,572,807 8,726,058 8,702,900 8,652,089 99.4% -0.8% Transaction and Use Tax - - - 5,300,000 5,069,832 95.7% 0.0% Transient Occupancy Tax 9,239,079 14,341,129 13,884,890 13,400,000 14,234,251 106.2% 2.5% Cannabis Tax 2,083,171 1,738,534 1,021,742 630,000 762,455 121.0% -25.4% Franchise Fee 1,410,787 1,513,730 1,636,443 1,601,000 1,678,956 104.9% 2.6% License & Service Charges 1,645,798 1,929,169 2,120,862 2,270,800 2,422,132 106.7% 14.2% Fines & Penalties 118,873 168,275 170,039 182,000 223,910 123.0% 31.7% Interest & Rent Income 209,018 (105,801) 996,093 1,510,000 2,070,886 137.1% 107.9% Reimbursements 359,354 386,437 314,505 333,000 481,061 144.5% 53.0% Other Revenues 85,368 398,976 125,585 2,011,449 146,157 7.3% 16.4% Other Sources 10,033,316 24,704 28,558 50,709 162,278 320.0% 468.2% Total Revenues 41,007,446$ 37,623,480$ 38,357,365$ 45,420,572$ 45,602,892$ 100.4% 18.9% Revenues
FY 2023/24
5 Meeting Date: September 17, 2024

Consumer Goods category is represented by many retail stores providing various consumer goods , such as large discount department stores, electronics stores, home furnishing stores, and other ret ail stores. The next largest industry categories are the State and County Pools (primarily online sales) now at 17% (historically 14%). When combined, these two industry groups account for 38% of the City’s total sales tax base. It is then supplemented by Business and Industry (manufacturers and industrial), Restaurants and Hotels (dining establishments, fast food, and bars), Building and Construction ranging between 12% to 1 5%, and Autos and Transportation at 1 1%. For comparison purposes, the percentage sh are by the eight major industry groups for the City is seen in Figure 1 below:

Figure 1 - Sales Tax by Major Industry Groups

Total sales tax revenues received through the end of the fiscal year reached $8.65 million, falling slightly short of budget projections of $8.7 million by $50,811 or -0.6%. This represents a decline of $73,969 or -0.8%, compared to the prior year’s total of $8.73 million.

At a recent meeting with the City’s sales tax consultants, HdL, in August, it was noted that sales tax revenues experienced limited growth during the January-March period. Sales were 1.2% above the same period in 2023 . W hen adjusted for economic data, actual sales were up 0.6%.

While overall sales were slightly up, declines were experienced in two major industry groups, Business and Industry and Building and Construction. These declines were attributed to several factors, including wet weather experienced during that quarter, along with lower demand for contractors and a shift toward smaller repair projects. Additionally, consumer prices were still rising at a rate higher than the Fed’s inflation target, and spiking Autos and
Transportation
11%
Building and
Construction
11%
Business and Industry
15%
Food and Drugs
5%
Fuel and Service
Stations
7%
General Consumer
Goods
21%
Restaurants and Hotels
12%
State and County Pools
17%
6 Meeting Date: September 17, 2024

insurance and utility costs have also led to slower consumer purchases. Staff will have its next key sales tax update in October for the actual activity for the April-June period.

Transaction and Use Tax (TUT)

The new 1% TUT measure became effective January 1, 2024, and was anticipated to bring in approximately $5.3 million in FY 2023/24. At the end of June 2024, t he City has received $5.1 million in TUT receipts, representing 95.7% of the budget estimate . Since these receipts cover only the first two -quarters of TUT c ollections, revenue may appear slightly lower than expected due to payment timing issues and potential misallocations.

In discussions with our tax consultants and auditors, the Finance Director has authorized tax audits to verify the accuracy of current reporting and to obtain necessary documentation from the California Department of Tax and Fee Administration (CDTFA).

These efforts aim to correct any previous misallocations, which could result in additional revenue being remitted back to the City of Goleta, in future periods.

Based on preliminary data, TUT revenue is trending in line with original estimates.

However, a clearer picture of performance will emerge by March 2025, when the City will have the first full year of TUT data. Staff anticipates learning more about the April - June economic activity at its next key sales tax update in October. Ongoing updates on TUT performance will be provided, with the next major report to the City Council expected in the FY 2024/25 – First Quarter Financial Review, scheduled for December 2024.

Additionally, the CDTFA has completed the implementation of the TUT for the City. Staff received the one-time invoice, totaling $101,535.30, which falls below the maximum not- to-exceed amount of $175,000. The Finance Direct or reached out to CDTFA to confirm cost calculations, noting that, as the only city with an operative date of January 1, 2024, the City incurred higher than usual preparatory costs due to no other entities sharing the implementation costs. The one -time preparatory costs have been paid and absorbed within the Finance Department’s program budget. Ongoing administrative charges related to TUT collection will continue to be deducted from future TUT revenue receipts.

Transient Occupancy Tax (TOT)

The City’s TOT is projected to be the largest General Fund revenue source this fiscal year, comprising 31.2% of total revenues. TOT has consistently been the largest revenue generator since FY 2012/13. Since January 1, 2013, the TOT rate increased from 10% to 12%. While TOT is historically a strong revenue stream, it is also the most volatile , particularly during economic downturns. The pandemic had a significant negative impact on TOT revenues due to reduced overnight stays, but the revenue stream has since recovered.

At the close of the fiscal year, a ctual TOT receipts were $14.2 million, exceeding the budgeted projection of $13. 4 million by $ 834,251 or 6.2%. Compared to the prior fiscal year, when TOT revenues were $13.9 million, this reflects an increase of $349,361 or

2.5%. The table below reflects recent adjustments to TOT at the time of preparing the 7 Meeting Date: September 17, 2024

report, which has TOT revenues at $14.2 million. Table 4 and Figure 2 summarize the actual monthly TOT revenues received since FY 18/19.

Table 4 – TOT Revenues for the Twelve Months of FY 2023/24 (Accrual Basis)

Figure 2 – TOT Monthly Trend

Since February 2023, TOT revenues have started to decline compared to the historical highs experienced in FY 2021/22. Decreases continued to be experienced in the average Month
2018/19
Actuals
2019/20
Actuals
2020/21
Actuals
2021/22
Actuals
2022/23
Actuals
2023/24
Actuals
$ Chg from
Prior Year
% Chg from
Prior Year
July 1,325,613$ 1,389,695$ 669,922$ 1,704,247$ 1,621,763$ 1,589,885$ (31,879)$ -2.0% August 1,278,046 1,365,353 894,806 1,546,744 1,531,798 1,426,211 (105,587) -6.9% September 1,010,472 1,057,156 858,289 1,322,884 1,459,340 1,361,592 (97,748) -6.7% October 904,428 1,008,713 845,369 1,130,339 1,148,403 1,214,926 66,524 5.8% November 875,203 826,170 639,146 969,235 1,057,978 1,044,951 (13,027) -1.2% December 692,371 731,050 322,282 889,565 856,218 884,960 28,742 3.4% January 677,067 740,150 348,766 683,128 705,491 831,806 126,315 17.9% February 777,694 826,479 524,788 867,652 822,368 852,598 30,230 3.7% March 883,099 391,077 758,298 1,159,034 987,757 1,119,682 131,925 13.4% April 982,306 111,640 1,018,359 1,412,193 1,213,205 1,232,710 19,505 1.6% May 972,612 238,349 1,057,257 1,251,448 1,117,875 1,188,857 70,981 6.3% June 1,185,601 511,608 1,301,798 1,404,659 1,362,692 1,486,071 123,379 9.1% Total 11,564,512$ 9,197,440$ 9,239,079$ 14,341,129$ 13,884,890$ 14,234,251$ 349,361$ 2.5% Year over Year $ Change (2,367,072)$ 41,640$ 5,102,050$ (456,239)$ 349,361$ Year over Year % Change -20.5% 0.5% 55.2% -3.2% 2.5%
18/19 Baseline $ Change (2,367,072)$ (2,325,432)$ 2,776,617$ 2,320,378$ 2,669,739$ 18/19 Baseline % Change -20.5% -20.1% 24.0% 20.1% 23.1% $0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
Goleta TOT Monthly Trend
2018/19
Actuals
2019/20
Actuals
2020/21
Actuals
2021/22
Actuals
2022/23
Actuals
2023/24
Actuals
8 Meeting Date: September 17, 2024

daily rate (ADR) and occupancy levels. However, in the last six (6) to seven (7) months, the declines have slowed down and normalized , with TOT revenues performing slightly higher than the prior year but below FY 2021/22 levels. It should be noted that June 2024 was the city's highest month in that particular month when compared to previous fiscal years.

Short-Term Vacation Rentals (STVR)

On July 18, 2023, the City Council adopted updates to its STVR ordinance, which took effect on August 18, 2023. Over the course of the last six months, staff has been working on ongoing implementation efforts with STVR hosting platforms, onboarding operators to the updated licensing process, and updating TOT/TBID remittance forms tailored to STVR operators for future reporting. Staff also worked with Airbnb to implement a City Portal for increased regulation on unpermitted STVRs and will continue to work with other hosting major platforms, with continued monitoring an d compliance with the other hosting platforms. The City Portal allows authorized staff to partner with Airbnb to identify unlicensed or unpermitted vacation rentals and allows us to delist properties, should there be a reason to. In the upcoming fiscal y ear, staff will continue to work with hosting platforms and operators to collect data. Finance staff will also be working with consultants to assist with ongoing education and monitoring other non -major platforms, including identifying possible direct listings and TOT/TBID reporting and collection (including back tax collections). The table below summarizes the STVR license activity at a point in time.

Table 5 – STVR License Data

STVR License Data
(Status)
Total
(5/16/2023)
Total
(10/13/2023)
Total
12/10/2023)
Total
(2/13/2024)
Total
(5/21/2024)
Active 28 44 55 41 50
Inactive/Expired 36 19 42 52 47
Pending 6 12 11 12 7
Revoked/Terminated/
Suspended 2 5 5 9 16
Total 72 80 113 114 120

Note: Active status represents active, valid STVR licenses. Inactive/expired licenses represent licenses that chose not to renew or were non -responsive. Revoked, Terminated, and Suspended status can be due to an unpermitted dwelling unit or violations, including code compliance finding s. Data has been scrubbed for duplicated addresses. Staff is working on an updated table to include information on owner-occupied and non-owner occupied, and plan to have it part of the next financial review.

Approximately 24 ope rators have been remitting TOT, including Airbnb and Expedia Group, which started directly collecting and remitting in March 2024. The total STVR TOT collected through the July 2023 – June 2024 period is approximately $245,000, which is a 72% increase compared to the same year-end period in the prior fiscal year. STVR TOT accounts for approximately 1.7% of the overall TOT revenues. The large increase is primarily due to the City Council's action on the ordinance updates and changes. 9 Meeting Date: September 17, 2024

Additional information will continue to be provided in future quarterly financial reviews.

Figure 3 below shows the annual STVR TOT collected since FY 2018/19.

Figure 3 -STVR Annual TOT

Cannabis Business Tax

On November 6, 2018, the voters passed Measure Z2018, establishing a tax on cannabis business operations within the City of Goleta. The passing of this ballot measure subjects cannabis businesses to taxation on gross receipts of cannabis based on classific ations up to a maximum of 10 percent. Initial rates were established when passing and codified as Chapter 3.08 into the Goleta Municipal Code. On December 5, 2023, the City Council approved Ordinance No. 23-12, which changed the medical cannabis retail rate from 0% to 5% and made it effective January 2024. The cannabis tax rates are listed in Table 6:

Table 6 – Current Cannabis Tax Rates

Cannabis Business Classification Activities Taxed Tax Rate Non-Medical Cannabis Retail Gross Receipts 5%
Medical Cannabis Retail*
*Effective January 2024, tax rate set at 5% Gross Receipts 5% Processing/Manufacturing Gross Receipts 2%
Cultivation Gross Receipts 4%
Distribution/Transport Gross Receipts 1%
Testing Gross Receipts 0%
Nurseries Gross Receipts 1%
Maximum Tax Limit Gross Receipts 10%
Maximum Cap for Multiple Operations Gross Receipts 10%

48,679 49,010 44,295
105,498
142,687
245,688
0% 0.7% -9.6%
138.2%

35.3%

72.2%
-
50,000
100,000
150,000
200,000
250,000
300,000
2018/19
Actuals
2019/20
Actuals
2020/21
Actuals
2021/22
Actuals
2022/23
Actuals
2023/24
Actuals
Short Term Vacation Rental - TOT
STVR YoY STVR % Change
10 Meeting Date: September 17, 2024

At the time of writing this report, t he City of Goleta currently has 1 2 active licenses, with ten operators now reporting cannabis business tax revenues. Total cannabis business tax revenues received through June 30th on an accrual basis were approximately $765,455, which exceeded budget estimates of $630,000 by $150,757 or 18.3% .

Compared to prior year revenues of $1 million, cannabis revenues were down $(256,258) or 14.7%.

As a reminder, during the Q1 Financial Review, staff recommended an adjustment of cannabis business tax revenues from $1.13 million to $630,000, a decrease of approximately $500,000 or -44%. That decrease reflected the closure of a major cannabis distributor and the ongoing volatility and uncertainty that surrounds the cannabis industry.

Table 7 below summarizes the approved Cannabis Business License Operators as of the date preparing this report.

Table 7 – Cannabis Business License Application Summary

Currently, staff is unaware of any pending applicants. Staff has been working with cannabis operators on the updated ordinance changes the City Council adopted on December 5, 2023, that went into effect in January 2024. As a recap, this ordinance changed the medical cannabis retail rate from zero percent of gross receipts to five percent of gross receipts. The ordinance further clarifies definitions, license types, and application processes and includes updated sections for a change in ownership and a change in premises. The ordinance further streamlines the application process, removing the social security card requirement and updating the criminal background check # Status Business Application Name Location Primary License Type Other Uses or Notes Paying Tax? 1 Approved CalGreen
(Legal Non-Conforming)
164 Aero Camino Storefront Retail Yes
2 Approved Santa Barbara Care Center
(Legal Non-Conforming)
5814 Gaviota Street Microbusiness Storefront Retail
Cultivation
Distribution
Yes
3 Approved Organic Greens Collective
(Legal Non-Conforming)
5902 Daley Street Storefront Retail Yes
4 Approved Green Rush Alliances LLC 6332 Lindmar Ave Manufacturing Distribution Yes 5 Approved Greenbridge Patient Collective 5940 Matthews St Microbusiness Distribution Manufacturing
Non-Storefront Retail (Delivery)
Yes
6 Approved Twisted Roots, Inc
(previously Sublime Processing, LLC)
123 Aero Camino Unit A Microbusiness Manufactuer
Distribution
Non-Storefront Retail (Delivery)
Yes
7 Approved Thornwood Distribution LLC 5756 Thornwood Drive Cultivation (Processor) Nursery Yes 8 Approved One Plant 290 Storke Road Storefront Retail Yes 9 Approved Firefly Delivery, LLC 5775 Dawson Ave Non-Store Front Retail (Delivery)
Delivery only Yes
10 Approved AGQ Green Nature 859 Ward Drive. Suite 103 Testing Testing facility only No 11 Approved Hollister Distribution, Inc. 5631 Calle Real Storefront Retail License issued, not operating yet
No
12 Approved Megan's Organic Market 5999 Hollister Storefront Retail License issued Yes 13 No longer
operating
Ocean Grown Farms 176 Aero Camino Microbusiness Distribution Manufacuring
Non-Storefront Retail (Delivery)
No
14 No longer
operating
HERBL 759 Ward Drive Distribution Went under receivership. No longer operating
No
15 No longer
operating
HERBL 839 Ward Drive Distribution Went under receivership. No longer operating
No
16 No longer
operating
HERBL 749 Ward Drive Distribution Went under receivership. No longer operating
No
11 Meeting Date: September 17, 2024

requirements. The proposed ordinance also modified the general liability insurance requirement to require $1 million per occu rrence and $2 million per aggregate and changed the business hours of operations for both storefront retailers and non-storefront retailers (delivery) to now occur from 6:00 a.m. to 10:00 p.m. These updates will give the current operators more flexibility with their operations and streamline some of the processes.

Franchise Fees

The City collects franchise fees from four main service provider sources (Cable, Electric, Gas, and Solid Waste). Each provider of these services has a different payment schedule.

Electric and Gas providers make annual payments in April. The Cable provider is on a quarterly payment plan, while Solid Waste fees are collected monthl y. Total franchise fees collected by the end of the fourth quarter were $1.7 million, which exceeded budget estimates by $77,956 or 4.9%. In comparison to the prior year, franchise fees increased by $42,513 or 2.6%.

Licenses and Service Charges

This revenue category reflects the user fees and charges related to business license processing, planning, and building permit fees, staff time charges related to development activity, and library management service charges. All revenue accounts were revised and updated to reflect anticipated activity for FY 2023/24. Table 8 summarizes the primary revenue accounts within the Licenses and Service Charges category.

Table 8 – Licenses and Service Charges Summary

Through the end of the fourth quarter, total revenues were at $2.4 million, which exceeded budget projections by $150,747 or 6.7%. In comparison to the same period in the prior year, overall revenues increased by $ 301,271 or 14.2%, primarily due to building permit activity and plan check fees.

Fines and Penalties

The City collects various fines and penalties related to traffic, parking, towing, lost item fees related to the library and administrative citations . Overall receipts of $ 223,910 FY 2020/21 FY 2021/22 FY 2022/23 Prior Year
Year End
Actuals
Year End
Actuals
Year End
Actuals
Current
Budget Year End Actuals
%
Realized
Year End
% Chg
Legal Deposits Earned 398 15,982 7,300 1,000 - 0.0% -100.0% Planning Fees 110,688 134,161 117,807 120,000 130,277 108.6% 10.6% Planning Deposits Earned 282,665 255,513 329,810 210,500 243,707 115.8% -26.1% Building Permits 416,490 422,776 456,122 741,000 708,483 95.6% 55.3% Public Works Deposits Earned 56,564 44,588 32,733 17,300 12,332 71.3% -62.3% PW/Engineering Fees 89,753 134,593 98,905 68,400 91,896 134.4% -7.1% Solid Waste Roll Off Fees 28,041 29,120 26,455 30,000 23,816 79.4% -10.0% Business License 374,896 515,712 539,876 466,500 499,817 107.1% -7.4% Plan Check Fees 210,843 290,934 397,352 488,000 580,969 119.1% 46.2% Other Licenses & Charges 75,461 85,791 114,501 128,100 130,837 102.1% 14.3% TOTAL 1,645,798$ 1,929,169$ 2,120,862$ 2,270,800$ 2,422,132$ 106.7% 14.2% Licenses and Service
Charges
FY 2023/24
12 Meeting Date: September 17, 2024

exceeded budget projections by $41,910 or 23%. In comparison to the same period last year, overall revenues were up by 31.7%, $53,872 . Increases were experienced with parking fines, criminal code violations, lost items fees with the library, and administrative citations.

Interest and Rent Income

Interest and rent income accounts for rental property owned by the City and investment earnings generated from the City’s investment program. Through the end of the fourth quarter, total interest and rent income was $2.07 million , representing 137.1% of the budgeted amount . Compared to the same quarter in the prior fiscal year , revenues increased by 107.9%. This significant increase is largely due to a fair market value (FMV) adjustment of $412,596 applied to the City’s investment program as required by the Governmental Accounting Standards Board (GASB). The FMV adjustment reflects unrealized gains and losses.

Excluding unrealized gains and losses, actual realized interest earnings totaled $1.55 million, exceeding budget projections by $150,853 or 10.8%. Compared to the prior fiscal year, realized interest earnings increased by $592,000, or 61.8%, primarily due to the higher interest rate environment. The City’s interest earnings are forecasted to gradually increase, as short -term and highly liquid investments, such as local government investment pools and money market funds , tend to closely follow movements in the Federal Funds Rate.

Reimbursements

This revenue category primarily accounts for all staff time reimbursements (cost recovery) related to the CIP and Redevelopment Successor Agency administrative and direct costs.

Additionally, it includes claim reimbursements or other one -time miscellaneous reimbursements. Staff that work directly on projects or programs supported by special revenue funds can charge staff time against the CIP project budgets supported by special revenue funds (if eligible) and reimburse the General Fund. The overall amounts vary year to year, depending on the use of contract engineering services. Contract engineering services are paid for directly from the CIP project budgets supported by the special revenue funds and, therefore, do not require payments from the General Fund. The revenues received through the end of the quarter totaled $481,061 and were 144.5% of the total budget amount of $333,000. In comparison to the prior year for the same quarter, revenues increased by 53.0% or $166,556 due to $116,727.16 of Federal Grant proceeds reimbursing the General Fund and an increase in shared costs and admin fees recognized in the fourth quarter.

Other Revenues

This category accounts for all other remaining General Fund revenue amounts , such as Motor Vehicle License Late Fees (MVLF), one -time donations, and other one -time miscellaneous revenues. Revenues were at $ 146,157 by the end of the quarter , or approximately 7.3% of the total budget of $ 2 million. Compared to the same quarter's 13 Meeting Date: September 17, 2024

prior year, revenues increased by 16.4%. Of the $2 million budget, staff is recommending the cleanup adjustment of $1.6 million to be reflected in the Developer Agreement Fund (Fund 231) to properly account for this restricted revenue source. T he $1.6 million is related to the traffic settlement agreement for development with the City of Santa Barbara and is restricted to Project Connect.

Other Sources

This category accounts for other financing sources , such as funds transferred in from other funds or other fund resources received from transactions such as the sale of securities or cash received from loans or when bonds are issued. City staff primarily utilize this category to account for funds transfer red in for staff time spent administering the Community Development Block Grants (CDBG) program. Other sources received throughout the quarter were at 320% or $162,278 of the total budget amount of $50,709.

This increase is related to a “t ransfers in” from OBF-SCE Fund of $128,210.41 for the LED Street Lighting Project (CIP Project No. 9056) related to a FY 2021/22 grant transfer.

General Fund Expenditure Analysis:

The General Fund expenditures budget is currently at $66.4 million. Total expenditure through the fourth quarter should be about 100% of the budget, assuming the timing of expenditures is consistent throughout the year. By the end of the fourth quarter, preliminary actual expenditures of $ 40.3 million were at 60.7% of the total budget.

Compared to the prior year for the same quarter, expenditure was up 5.4%. If we were to remove the large one -time capital expenditures and consider only the operating expenditures, we would be at approximately 79% of the budget.

Staff is currently finalizing ca rryovers, though based on preliminary estimates, approximately $19.8 million of one-time funds will be carried over for active and ongoing CIP projects ($14.4 million) and non-CIP projects ($5.5 million) that were not completed in the current fiscal year. Final carryover amounts will be finalized through the audit process and reported in the Q1 Financial Review in December. Table 9 summarizes the General Fund expenditure budget activity by department, which is followed by a brief discussion of the key expenditure variances and recommended adjustments.

Table 9 - General Fund FY 2023/24 Expenditures through Q4 (June 30)

FY 2020/21 FY 2021/22 FY 2022/23 Prior Year
Year End
Actuals
Year End
Actuals
Year End
Actuals
Current
Budget
Year End
Actuals
%
Realized
Year End
% Chg
General Government 5,195,252 6,401,327 6,090,972 6,577,740 5,810,188 88.3% -4.6% General Services 0 454,270 2,823,600 4,234,844 3,206,031 75.7% 13.5% Library 320,760 251,077 369,363 388,511 193,851 49.9% -47.5% Finance 955,919 1,196,075 1,391,911 1,849,300 1,715,939 92.8% 23.3% Planning & Env. Review 3,174,574 3,382,657 3,717,494 5,513,142 4,620,554 83.8% 24.3% Public Works 4,435,670 7,525,224 9,267,171 15,291,085 8,811,038 57.6% -4.9% Neighborhood Services 2,347,229 1,761,892 2,340,295 3,045,021 2,354,098 77.3% 0.6% Public Safety 6,959,079 8,470,638 9,157,530 10,715,211 10,733,668 100.2% 17.2% Non-Departmental 837,282 1,452,398 1,840,096 892,500 892,073 100.0% -51.5% Capital Improvement Projects 1,266,975 251,642 1,258,615 17,913,121 1,996,148 11.1% 58.6% Total Expenditures 25,492,739$ 31,147,198$ 38,257,047$ 66,420,474$ 40,333,589$ 60.7% 5.4% Expenditures
FY 2023/24
14 Meeting Date: September 17, 2024

Most departments were within range of their allocated budgets as of June 30, 2024, except for Public Safety. When comparing total actual expenditures to the prior fiscal year, the City spent approximately $ 2.1 million or 5.4% more than FY 2022/23. Provided in Attachment 2 of this report is a “Budget to Actuals” comparison of the Department’s divisions and programs. At this time, staff are recommending the following cleanup budget adjustments, which can be seen in line-item detail in Attachment 5.

General Services

Staff is recommending budget appropriation s of $60,000. Staff recommendations and additional details are summarized below:

 A budget appropriation to transfer $60,000 from General Services Maintenance- Facilities to the CIP 9101 (City Hall Remodel Capital Project) to cover the City Hall carpet replacement.

Goleta Library

Staff is recommending budget appropriation s of $5,000. Staff recommendations and additional details are summarized below:

 A budget appropriation transfer of $5,000 for the Library related to the Las Aletas Donation for Operation Bookshelf, GVL Large Print materials & Books on CD audiobooks. Revenue Appropriation not needed.

Public Safety

Staff is recommending a budget transfer appropriation of $19,381 from the City Manager’s Office to Police Services to true up against the final contract amount.

Capital Improvements Program (CIP)

Staff is recommending budget appropriation s of a net decrease ($1,540,199) . Staff recommendations and additional details are summarized below:

 A budget appropriation to transfer $60,000 from General Services Maintenance- Facilities to the CIP 9101 (City Hall Remodel Capital Project) to cover the City Hall carpet replacement.

 A budget appropriation to transfer $41,728.81 to the CIP 9053 (Cathedral Oaks Crib Wall Interim Repair), $(30,295.55) from inactive CIP 9056 (LED Street Lighting Project) and $(11,433.26) from inactive CIP 9088 (RRFB Improvements at School Crosswalks).

15 Meeting Date: September 17, 2024

 $1.6 million budget decrease as a portion of Project Connect was being supported by the developer payment mentioned above. This project budget will now be reflected in the Developer Agreement Fund.

General Fund – Estimated Ending Fund Balance and Reserves (Unaudited):

Table 10 shows a recap of Fund Balance as of June 30, 2023, and June 30, 2024, which has been revised. The FY 2023/24 ending fund balance column reflects actual revenues and expenditures and factors in estimated carryover amounts related to FY 2023/24. The carryover amounts are reflected in “CIP Project Funding” and “Encumbrances” in the table below. In addition, reserve categories were updated to the policy level and adjusted to the adopted budgeted amounts. The amounts are still under review and are subject to change after the audit is complete. The final numbers will be reported in the City’s Audit Report, the Annual Comprehensive Financial Review (ACFR), and the First Quarter Financial Review for FY 2024/25.

Table 10 – General Fund FY 2023/24 – Estimated Fund Balance and Reserves

(Note: Numbers are preliminary and subject to change after completion of audit)

As shown above, the revised estimated FY 2023/24 total fund balance is projected at $44.6 million as of June 30, 2024. This figure includes all city fund balance categories.

After incorporating reserve adjustments , the unassigned fund balance is projected at approximately $1.7 million on June 30, 2024. It should be noted that during the adoption of the FY 2024/25 Mid -Cycle Budget on June 18, 2024, the projected one -time unassigned fund balance was considered and programmed to help fund major one-time capital projects , including considering replenishment of a temporary borrowi ng $1.5 million relate to the train depot. This adjustment is temporarily reflected in the table “Unassigned Fund Balance – Adjustment for FY 2024/25”. Staff is currently working on updates and finalizing year-end numbers and will have updated fund balance projections for FY 2024/25 in the Q1 financial review in December 2024. Currently, the $1.7 million Classification
FY 22/23
Ending Fund Balance Increase Decrease
FY 23/24
Est. Ending Fund
Balance
Reserve
Adjustments
FY 23/24 Revised
Est. Ending Fund
Balance
Prepaids and Deposit 15,049 15,049 77,585 92,635 City Hall Solar Removal 94,500 94,500 94,500 Public Facilities/Building
Maintenance 830,108 (73,115) 756,993 756,993 Capital Equipment 791,653 791,653 8,347 800,000 Compensated Leave 428,625 428,625 86,544 515,169 Risk Management 200,000 200,000 200,000 Litigation Defense Fund 600,000 600,000 600,000 Contingency 11,235,254 1,593,486 12,828,740 1,645,026 14,473,766 Street Maintenance - - - Sustainability - - -

OPEB UAL - - - CalPERS Pension UAL - - - IT Reserve - 160,000 160,000 160,000 CIP Project Funding 7,521,823 (7,521,823) - 14,376,774 14,376,774 Encumbrances 4,992,090 (4,992,090) - 5,473,117 5,473,117 FMV Adjustment 519,117 519,117 (412,596) 106,521 Unassigned Fund Balance -
Adjustment for FY 24/25 3,000,000 - (3,000,000) - 5,281,900 5,281,900 Unassigned Fund Balance 9,141,039 - 19,102,845 28,243,883 (26,536,699) 1,707,185 Total Fund Balance 39,369,258 1,753,486$ 3,515,817$ 44,638,560$ -$ 44,638,560$ 16 Meeting Date: September 17, 2024

estimate is not recommended for use until the close of year -end, and the audit and final number can be determined. A significant adjustment can occur if a ny late invoices, revenue shortfalls in other special revenue funds, or negative fund balances with other special funds and funds are determined uncollectible. Staff will continue to report back on updated numbers. In addition, during this fiscal year and the upcoming budget cycle process, there will be continued discussions on addressing the unfunded CIP consideration of tax-exempt debt financing and evaluating a funding policy to put aside “pay-go” funding for CIP (including pavement and concrete), and i n addition public facilities and building maintenance for future replacement. Staff are also evaluating its funding plan with the Section 115 Trust with pension and OPEB liabilities, which will be reported in the upcoming audit report. Further discussions will happen at future Finance Committee and City Council meetings.

The unassigned fund balance consists of one-time funds that are essential for:

 Ensuring economic stability in case of revenue shortfalls  Managing liquidity and cash flow needs
 Addressing various unanticipated one-time expenditures, such as gap funding, or immediately addressing emergency response, without reducing operating budget  Meeting other priority needs as they arise

Maintaining an adequate unassigned fund balance is vital for the city’s fiscal health, as it also supports creditworthiness and offers a financial cushion against unforeseen one - time expenses or immediate revenue shortfalls. The City has utilized this bala nce when additional appropriations are needed for capital projects or major projects. For example, in FY 2023/24, $5 million was recommended for appropriation towards the Ekwill Street and Fowler Road Extensions Project.

It’s important to note that the ci ty maintains a separate contingency reserve for emergencies or further interruptions in cash inflows. On June 30, 2024, that balance was at $14.5 million and met the policy level of 33% of ongoing operating expenditures.

Note: The Finance Annual Work Program for FY 2024/25 includes a comprehensive review of evaluating reserve categories and amounts under long-range projects contingent on staff capacity.

Revenue Neutrality Agreement (RNA):

The receipts and payments resulting from the RNA are not included in the budget. Under the RNA, the County is allocated 30% of the 1% Sales Tax revenues generated within the City of Goleta and shares equally in the city's Property Tax revenues. The estimated cost for FY 2023/24 of the total RNA payments is $7.7 mill ion. The total estimated contribution since the City's incorporation in 2002 is approximately $151.9 million through the end of FY 2023/24.

Capital Improvement Program and Other Funds:

17 Meeting Date: September 17, 2024

Staff has provided Attachment 3 to summarize all other Special Revenue Fund revenues and expenditures with budget -to-actual comparison. Encumbrances may still be displayed as staff continues to review all financial data, but encumbrance do not have an effect on fund balance. On a budget basis, the various grant-type funds are balanced with revenues matching expenditures. However, on an actual basis, funds are reimbursed after they are expended. The reimbursement requests for grant expenditures are submitted either on a monthly or quarterly basis by the department staff respo nsible for the project reimbursements. Any negative balances are due to the timing of revenues being received by the City . Revenue projections are reviewed on a quarterly basis and recommended adjustments are made when necessary. The Other Funds section be low briefly describes the financial activity through the quarter for some of the City’s major operating funds. Attachment 4 provides a CIP Expenditure Summary on a budget-to- actual basis to ensure that projects do not exceed the appropriations allocated to the project.

Other Funds:

Gas Tax Fund (Fund 201)

The state imposes sales taxes and per -gallon excise taxes on gasoline and diesel fuel.

The local portion of these allocations flows through the Highway Users Tax Account (HUTA). State law requires tha t these funds be used exclusively for the maintenance of the street and highway system. Gas tax revenues through the end of the quarter are at $954,639 or 102.6% of the $ 930,463 revenue budget amount. Budgeted expenditures are programmed at $2 million for the fiscal year. Actual expenditures were at $ 719,210 or 35.3% of the budget. The unspent budget will be carried over for the pavement rehabilitation project.

SB1 Road Maintenance & Repair Act (RMRA) (Fund 203)

Senate Bill 1 (SB 1) – Road Repair and Acco untability Act of 2017 has been in effect since November 1, 2017. Revenues are generated from fuel and vehicle registration taxes. State law requires these funds to be used exclusively for the transportation system.

SB 1 revenues through the end of the quarter are at $809,852 or 99.2% of the $816,772 revenue budget amount Budgeted expenditures are programmed at $ 1.18 million.

Through the end of the quarter , $281,598 million or 23.8% of the budget has been expended. All budget is programmed towards the City’s pavement rehabilitation program and budget balances will continue to carry over for that purpose.

Measure A Fund (Fund 205)

The Santa Barbara County Association of Governments (SBCAG) receives a half -cent sales tax for transportation improvements in Santa Barbara County. The City of Goleta receives a portion of those funds to use exclusively for transportation -related purposes.

Measure A revenues through the end of the quarter are at $2.6 million or 104.7% of the $2.4 million revenue budget amount. Budgeted expenditures are programmed at $7.8 million. Through the end of the quarter, $2.9 million, or 37.2% of the budget, has been 18 Meeting Date: September 17, 2024

expended. Budget balances will continue to be carried over into FY 2024/25 for its transportation and street maintenance-related projects.

It should be noted that during budget workshops held for FY 2024/25, the use of Measure A was identified as a fundi ng source to accelerate revenues to help fund critical capital projects, such as Cathedral Oaks Crib Wall and San Jose Creek – Bike Path Northern and Southern Segments. Staff and the financing team are finalizing the most cost - effective approach and will have further detailed discussions with the City Council at a future meeting date.

Recommended Budget Amendments – Special Revenue Funds:

Staff is recommending various expenditure cleanup budget adjustments for other special revenue funds. Additional details and corresponding revenue adjustment (if applicable) are found in Attachment 5 – Exhibit A.

Donation Acceptance:

Library staff recently received information that $25,000 will be donated to Solvang Library from the Sterling Price Living Trust. To accept donated funds in excess of $10,000, the City Council must formally approve the donation through the City’s Donation Acceptance Form. A copy of the form is then provided to the trustee. The funds are for general library services restricted to Solvang Library. A copy of this form is provided as Attachment 7.

Appropriations of these funds will be requested in the future based on the library department’s needs. If the Donation Acceptance Form is accepted, staff wil l take incidental actions needed to execute the document and utilize the funds identified consistent with the intent of the donation.

FINANCE COMMITTEE REVIEW:

The Finance Committee met to review the FY 2023/24 Fourth Quarter Financial Review on August 29, 2024.

FISCAL IMPACTS:

General Fund

Revenues are recommended for a decrease of $1.5 million and expenditures for a decrease of $1.6 million. The recommended budget adjustment results in a net increase of $123,210 to the total budgetary fund balance of the General Fund. After year-end reserve adjustments, the total ending fund balance is projected at $ 44.6 million on an actual basis , which includes an estimated unassigned fund balance of $ 1.7 million.

Additional details of the accounts af fected by the recommended General Fund budget adjustments can be found in Exhibit A of Attachment 5.

Other Funds

19 Meeting Date: September 17, 2024

The recommended amendments to Other Special Revenue Funds described above are detailed in Attachment 5—Exhibit A.

The City Council is asked to adopt the attached resolutions (Attachment 5) approving the recommended budget adjustments and separately authorizing the City Manager to apply the hiring incentive policy and accept the donation for general library services at Solvang Library.

City’s Cash Flow and Position:

The City’s Finance Department monitors its cash flow and position daily. The cash funds are pooled and are considered very liquid, as most of its funds are invested in overnight pooled investment accounts such as LAIF or its money market account. The City’s special revenue accounts have a committed fund balance that is pooled all together with the General Fund. When pooled all together, the City’s cash position on June 30th was approximately $72 million.

ALTERNATIVES:

Council may elect not to adopt the attached resolution, thereby leaving the budget as previously approved; however, certain budget recommendations are necessary to meet obligations and financial reporting requirements.

LEGAL REVIEW BY: Megan Garibaldi, City Attorney

APPROVED BY: Robert Nisbet, City Manager

ATTACHMENTS:

1. General Fund Statement of Revenues & Expenditures Budget to Actual Comparison

2. General Fund Interim Statement of Revenues and Expenditures by Department and Program Budget to Actual Comparison

3. Interim Statement of Revenues and Expenditures - Summary by Fund

4. Capital Improvement Program (CIP) Expenditure Summary

5. Resolution No. 2 4-__ entitled, “A Resolution of the City Council of the City of Goleta, California, Amending the City of Golet a Operating and CIP Budget for Fiscal Year 2023/24

6. Fiscal Year 2023/24 Fourth Quarter Financial Review Presentation

7. Donation Acceptance Form

20 ATTACHMENT 1:

General Fund Statement of Revenue and Expenditures
Budget to Actual Comparison
21 Attachment 1
Property Taxes 9,015,100 413,614 9,428,714 9,698,885 103% - 9,428,714 Sales Taxes 8,702,900 - 8,702,900 8,652,089 99% - 8,702,900 Transaction and Use Tax 5,300,000 - 5,300,000 5,069,832 96% - 5,300,000 Transient Occupancy Tax 13,400,000 - 13,400,000 14,234,251 106% - 13,400,000 Cannabis Tax 1,130,000 (500,000) 630,000 762,455 121% - 630,000 Franchise Fee 1,558,900 42,100 1,601,000 1,678,956 105% - 1,601,000 License & Service Charges 2,014,100 256,700 2,270,800 2,422,132 107% - 2,270,800 Fines & Penalties 122,000 60,000 182,000 223,910 123% - 182,000 Interest & Rent Income 462,200 1,047,800 1,510,000 2,070,886 137% - 1,510,000 Reimbursements 323,000 10,000 333,000 481,061 144% - 333,000 Other Revenues 35,000 1,976,449 2,011,449 146,157 7% (1,600,199) 411,250 Other Sources 50,709 - 50,709 162,278 320% 128,210 178,919 Total Revenues 42,113,909 3,306,663 45,420,572 45,602,892 100% (1,471,989) 43,948,583 General Government 6,446,052 131,688 6,577,740 5,810,188 88% (19,381) 6,558,358 General Services 3,526,500 708,344 4,234,844 3,206,031 76% (60,000) 4,174,844 Library 810,810
(422,299) 388,511 193,851 50% 5,000 393,511 Finance 1,849,300 - 1,849,300 1,715,939 93% - 1,849,300 Planning & Env. Review 4,895,200 617,942 5,513,142 4,620,554 84% - 5,513,142 Public Works 12,711,500 2,579,585 15,291,085 8,811,038 58% - 15,291,085 Neighborhood Services 2,981,100 63,921 3,045,021 2,354,098 77% - 3,045,021 Public Safety 10,542,436 172,775 10,715,211 10,733,668 100% 19,381 10,734,592 Non-Departmental 873,000 19,500 892,500 892,073 100% - 892,500 Capital Improvement Projects 1,825,472 16,087,649 17,913,121 1,996,148 11% (1,540,199) 16,372,922 Total Expenditures 46,461,370 19,959,104 66,420,474 40,333,589 61% (1,595,199) 64,825,275 Net Change in Fund Balance (4,347,461) (16,652,441) (20,999,902.5) 5,269,303 123,210 (20,876,692) Beginning Fund Balance 39,369,258 39,369,258 39,369,258 39,369,258 Ending Fund Balance 35,021,797 18,369,355 44,638,560 18,492,566 General Fund Statement of Revenue and Expenditures
City of Goleta
Amended Budget Recommended
RevisionsOriginal Budget Prior Revisions Current Budget 6/30/2024 Actuals % of Budget
Budget to Actual Comparison
For the Quarter Ended June 30, 2024
Revenues
Amended BudgetExpenditures % of BudgetOriginal Budget Prior Revisions Current Budget 6/30/2024 Actuals
Recommended
Revisions

22 ATTACHMENT 2:

General Fund Interim Statement of Revenue and Expenditures by Department and Program
Budget to Actual Comparison
23 City of Goleta
General Fund Interim Statement of Revenues and Expenditures by Department and Program Budget to Actual Comparison
For the Quarter Ended June 30, 2024
Attachment 2
Annual
"Current"
Budget

QTR YTD
Actuals
Remaining
Balance
Percent
Received
Prior Year

QTR YTD
Actuals
Taxes
Property Taxes 9,428,714 9,698,885 (270,171) 102.9% 9,332,590 Sales Taxes 8,702,900 8,652,089 50,811 99.4% 8,726,058 Transaction and Use Tax 5,300,000 5,069,832 230,168 95.7% - Transient Occupancy Tax 13,400,000 14,234,251 (834,251) 106.2% 13,884,890 Cannabis Tax 630,000 762,455 (132,455) 121.0% 1,021,742 Franchise Fee 1,601,000 1,678,956 (77,956) 104.9% 1,636,443 Total 39,062,614 40,096,467 (1,033,853) 102.6% 34,601,722 Licenses & Service Charges
Legal Deposits Earned 1,000 - 1,000 0.0% 7,300 Planning Fees 120,000 130,277 (10,277) 108.6% 117,807 Planning Deposits Earned 210,500 243,707 (33,207) 115.8% 329,810 Building Permits 741,000 708,483 32,517 95.6% 456,122 Public Works Deposits Earned 17,300 12,332 4,968 71.3% 32,733 PW/Engineering Fees 68,400 91,896 (23,496) 134.4% 98,905 Solid Waste Roll Off Fees 30,000 23,816 6,184 79.4% 26,455 Business License 466,500 499,817 (33,317) 107.1% 539,876 Plan Check Fees 488,000 580,969 (92,969) 119.1% 397,352 Other Licenses & Charges 128,100 130,837 (2,737) 102.1% 114,501 Total 2,270,800 2,422,132 (151,332) 106.7% 2,120,862 Fines and Forfeitures
Fines & Penalties 182,000 223,910 (41,910) 123.0% 170,039 Total 182,000 223,910 (41,910) 123.0% 170,039 Investment Income
Interest & Rent Income 1,510,000 2,070,886 (560,886) 137.1% 996,093 Total 1,510,000 2,070,886 (560,886) 137.1% 996,093 Reimbursements
Reimbursements 333,000 481,061 (148,061) 144.5% 314,505 To
tal 333,000 481,061 (148,061) 144.5% 314,505 Other Revenues
Other Revenues 2,011,449 146,157 1,865,292 7.3% 125,585 Total 2,011,449 146,157 1,865,292 7.3% 125,585 Other Financing Sources
Transfers In 50,709 162,278 (111,569) 320.0% 28,558 Total 50,709 162,278 (111,569) 320.0% 28,558 TOTAL REVENUES 45,420,572 45,602,892 (182,320) 100.4% 38,357,365

24 City of Goleta
General Fund Interim Statement of Revenues and Expenditures by Department and Program Budget to Actual Comparison
For the Quarter Ended June 30, 2024
Attachment 2
Annual
"Current"
Budget

QTR YTD
Actuals Encumbrances Totals
Remaining
Balance
%YTD Expended
w/ Encumbr
General Government
City Council 454,290 400,814 - 400,814 53,476 88.2% City Manager 2,100,050 1,598,618 - 1,598,618 501,432 76.1% City Clerk 736,200 717,788 - 717,788 18,412 97.5% Support Services 197,700 151,250 - 151,250 46,450 76.5% City Attorney 1,130,900 1,096,231 - 1,096,231 34,669 96.9% Community Relations 597,300 590,234 - 590,234 7,066 98.8% Support Services 1,361,300 1,255,255 - 1,255,255 106,045 92.2% Total 6,577,740 5,810,188 - 5,810,188 767,551 88.3% General Services
General Services 972,600 722,044 - 722,044 250,556 74.2% Facilities 1, 667,035 1,352,614 - 1,352,614 314,421 81.1% Information Technology 1,144,065 871,250 - 871,250 272,814 76.2% Fleet Management 451,144 260,123 - 260,123 191,022 57.7% Total 4,234,844 3,206,031 - 3,206,031 1,028,813 75.7% Library
Library Services 338,511 192,615 - 192,615 145,896 56.9% Book Van 50,000 1,237 - 1,237 48,763 2.5% Total 388,511 193,851 - 193,851 194,660 49.9% Finance
Administration 1,849,300 1,715,939 - 1,715,939 133,361 92.8% Total 1,849,300 1,715,939 - 1,715,939 133,361 92.8% Planning & Environmental Review
Administration 446,800 436,392 - 436,392 10,408 97.7% Current Planning 1,907,182 1,661,699 - 1,661,699 245,482 87.1% Building & Safety 904,099 902,668 - 902,668 1,431 99.8% Advanced Planning 1,182,982 759,087 - 759,087 423,895 64.2% Planning Commission 168,300 118,393 - 118,393 49,907 70.3% Sustainability Program 432,479 334,856 - 334,856 97,623 77.4% Housing Program 471,300 407,458 - 407,458 63,842 86.5% Total 5,513,142 4,620,554 - 4,620,554 892,588 83.8% Public Works
Administration 1,197,500 972,336 10,406 982,742 214,758 82.1% Engineering Services 5,493,497 2,230,205 - 2,230,205 3,263,292 40.6% Facility Maintenance - - - - - #DIV/0! Parks & Open Spaces 2,732,900 1,985,764 - 1,985,764 747,136 72.7% C
apital Improvement Program 1,446,742 1,145,393 - 1,145,393 301,349 79.2% Street Lighting 35,000 38,948 - 38,948 (3,948) 111.3% Traffic Ops & Maintenance 922,000 676,733 - 676,733 245,267 73.4% Street Maintenance 3,463,446 1,761,659 18,450 1,780,109 1,683,337 51.4% Solid Waste and Environmen - - - - - Total 15,291,085 8,811,038 28,856 8,839,894 6,451,191 57.8% Neighborhood Services
Neighborhood Services 935,173 781,363 - 781,363 153,810 83.6% Homelessness 866,048 607,691 - 607,691 258,357 70.2% Economic Development - - - - - #DIV/0! Parks & Recreation 825,500 731,210 - 731,210 94,290 88.6% Parks & Recreation 418,300 233,834 - 233,834 184,466 55.9% Total 3,045,021 2,354,098 - 2,354,098 690,923 77.3% Public Safety
Public Safety 10,715,211 10,733,668 - 10,733,668 (18,457) 100.2% Total 10,715,211 10,733,668 - 10,733,668 (18,457) 100.2% Non-Departmental
Debit Service 853,000 850,649 - 850,649 2,351 99.7% Non-Departmental 39,500 41,425 - 41,425 (1,925) 104.9% Total 892,500 892,073 - 892,073 427 100.0% Capital Improvement Projects
Capital Improvement Projects 17,913,121 1,996,148 (766,900) 1,229,248 16,683,873 6.9% Total 17,913,121 1,996,148 (766,900) 1,229,248 16,683,873 6.9% TOTAL EXPENDITURES 66,420,474 40,333,589 (738,044) 39,595,545 26,824,929 59.6%

NET REVENUES OVER
EXPENDITURES (20,999,902) 5,269,303
BEGINNING FUND BALANCE 39,369,258 39,369,258
ENDING FUND BALANCE 18,369,355 44,638,560

25 ATTACHMENT 3:

Interim Statement of Revenues and Expenditures - Summary By Fund 26 City of Goleta
Interim Statement of Revenues and Expenditures - Summary by Fund For the Quarter Ended June 30, 2024
Attachment 3
Printed Description Original Budget c Current
Budget d Budget
Requests e Proposed
Budget f YTD
Actual
Encum-
brances Totals Percent of
Current Budget
101 General Fund
Revenue 42,113,909 45,420,572 (1,471,989) 43,948,583 45,602,892 - 45,602,892 100.4% Expenditures 46,461,370 66,420,474 (1,595,199) 64,825,275 40,333,589 (738,044) 39,595,545 59.6% Addition to/(use of) reserves (4,347,461) (20,999,902) 123,210 (20,876,692) 5,269,303 738,044 6,007,346 Beginning Fund Balance 39,369,258 39,369,258 39,369,258 39,369,258 Ending Fund Balance 35,021,797 18,369,355 18,492,566 44,638,560 201 Gas Tax
Revenue 933,080 930,463 - 930,463 954,639 - 954,639 102.6% Expenditures 1,416,000 2,035,780 - 2,035,780 719,210 (654,000) 65,210 3.2% Addition to/(use of) reserves (482,920) (1,105,317) - (1,105,317) 235,429 654,000 889,429 Beginning Fund Balance 1,148,317 1,148,317 1,148,317 1,148,317 Ending Fund Balance 665,397 43,000 43,000 1,383,746 202 Local Transportation
Revenue 37,300 46,000 - 46,000 47,956 - 47,956 104.3% Expenditures - 290,159 - 290,159 28,000 - 28,000 9.6% Addition to/(use of) reserves 37,300 (244,159) - (244,159) 19,956 - 19,956 Beginning Fund Balance 252,859 252,859 252,859 252,859 Ending Fund Balance 290,159 8,700 8,700 272,815 203 RMRA
Revenue 818,228 816,772 - 816,772 809,852 - 809,852 99.2% Expenditures 808,000 1,184,926 - 1,184,926 281,598 - 281,598 23.8% Addition to/(use of) reserves 10,228 (368,154) - (368,154) 528,253 - 528,253 Beginning Fund Balance 711,720 711,720 711,720 711,720 Ending Fund Balance 721,948 343,567 343,567 1,239,974 205 Measure A
Revenue 2,230,000 2,440,000 - 2,440,000 2,554,301 - 2,554,301 104.7% Expenditures 3,247,000 7,787,374 - 7,787,374 2,895,840 (1,545,292) 1,350,548 17.3% Addition to/(use of) reserves (1,017,000) (5,347,374) - (5,347,374) (341,539) 1,545,292 1,203,753 Beginning Fund Balance 5,557,373 5,557,373 5,557,373 5,557,373 Ending Fund Balance 4,540,373 210,000 210,000 5,215,834 206 Measure A-Other
Revenue 438,378 2,630,847 - 2,630,847 202,090 - 202,090 7.7% Expenditures 438,378 1,797,253 - 1,797,253 609,571 (365,315) 244,256 13.6% Addition to/(use of) reserves - 833,594 - 833,594 (407,481) 365,315 (42,166) Beginning Fund Balance (833,594) (833,594) (833,594) (833,594) Ending Fund Balance (833,594) - - (1,241,075) 208 County Per Capita - Goleta Library
Revenue 751,790 913,991 - 913,991 868,885 - 868,885 95.1% Expenditures 776,790 1,064,683 - 1,064,683 729,840 - 729,840 68.6% Addition to/(use of) reserves (25,000) (150,692) - (150,692) 139,045 - 139,045 Beginning Fund Balance 206,392 206,392 206,392 206,392 Ending Fund Balance 181,392 55,700 55,700 345,437 209 County Per Capita - Buellton Library
Revenue 159,920 161,891 - 161,891 171,388 - 171,388 105.9% Expenditures 155,900 211,138 - 211,138 131,215 - 131,215 62.1% Addition to/(use of) reserves 4,020 (49,247) - (49,247) 40,172 - 40,172 Beginning Fund Balance 210,483 210,483 210,483 210,483 Ending Fund Balance 214,503 161,236 161,236 250,656 210 County Per Capita - Solvang Library
Revenue 183,133 186,265 - 186,265 193,257 - 193,257 103.8% Expenditures 187,100 261,128 - 261,128 206,551 - 206,551 79.1% Addition to/(use of) reserves (3,967) (74,863) - (74,863) (13,295) - (13,295) Beginning Fund Balance 170,568 170,568 170,568 170,568 Ending Fund Balance 166,601 95,705 95,705 157,273 211 Solid Waste
Revenue 1,439,500 1,446,500 - 1,446,500 1,487,952 - 1,487,952 102.9% Expenditures 1,818,300 2,053,300 - 2,053,300 1,492,891 - 1,492,891 72.7% Addition to/(use of) reserves (378,800) (606,800) - (606,800) (4,938) - (4,938) Beginning Fund Balance 1,593,368 1,593,368 1,593,368 1,593,368 Ending Fund Balance 1,214,568 986,568 986,568 1,588,430 212 Public Safety Donations
Revenue - - - - - - - 0.0% Expenditures - - - - - - - 0.0% Addition to/(use of) reserves - - - - - - - Beginning Fund Balance 11,748 11,748 11,748 11,748 Ending Fund Balance 11,748 11,748 11,748 11,748 Page "1
27 City of Goleta
Interim Statement of Revenues and Expenditures - Summary by Fund For the Quarter Ended June 30, 2024
Attachment 3
Printed Description Original Budget c Current
Budget d Budget
Requests e Proposed
Budget f YTD
Actual
Encum-
brances Totals Percent of
Current Budget
213 Buellton Library
Revenue 195,479 195,479 - 195,479 198,393 - 198,393 101.5% Expenditures 252,600 220,600 - 220,600 196,181 - 196,181 88.9% Addition to/(use of) reserves (57,121) (25,121) - (25,121) 2,212 - 2,212 Beginning Fund Balance 25,330 25,330 25,330 25,330 Ending Fund Balance (31,791) 209 209 27,542 214 Solvang Library
Revenue 197,555 197,555 - 197,555 206,178 - 206,178 104.4% Expenditures 243,900 185,900 - 185,900 185,900 - 185,900 100.0% Addition to/(use of) reserves (46,345) 11,655 - 11,655 20,278 - 20,278 Beginning Fund Balance - - - - Ending Fund Balance (46,345) 11,655 11,655 20,278 215 Goleta Library
Revenue 2,196,200 - - - - - - 0.0% Expenditures 2,196,200 - - - - - - 0.0% Addition to/(use of) reserves - - - - - - - B
eginning Fund Balance - - - - Ending Fund Balance - - - - 216 Book Van Library
Revenue 125,000 - - - - - - 0.0% Expenditures 125,000 - - - - - - 0.0% Addition to/(use of) reserves - - - - - - - Beginning Fund Balance - - - - Ending Fund Balance - - - - 217 Community Center
Revenue 733,000 733,000 - 733,000 560,602 - 560,602 76.5% Expenditures 734,900 734,900 - 734,900 560,602 - 560,602 76.3% Addition to/(use of) reserves (1,900) (1,900) - (1,900) - - - Beginning Fund Balance - - - - Ending Fund Balance (1,900) (1,900) (1,900) - 220 GTIP
Revenue 1,168,200 1,404,778 - 1,404,778 910,568 - 910,568 64.8% Expenditures 110,000 13,644,378 - 13,644,378 2,648,009 (1,419,131) 1,228,878 9.0% Addition to/(use of) reserves 1,058,200 (12,239,600) - (12,239,600) (1,737,441) 1,419,131 (318,310) Beginning Fund Balance 10,746,295 10,746,295 10,746,295 10,746,295 Ending Fund Balance 11,804,495 (1,493,304) (1,493,304) 9,008,855 221 Parks DIF
Revenue 85,700 248,165 - 248,165 669,126 - 669,126 269.6% Expenditures 655,000 7,459,703 - 7,459,703 3,356,908 - 3,356,908 45.0% Addition to/(use of) reserves (569,300) (7,211,538) - (7,211,538) (2,687,782) - (2,687,782) Beginning Fund Balance 8,227,095 8,227,095 8,227,095 8,227,095 Ending Fund Balance 7,657,795 1,015,557 1,015,557 5,539,314 222 Public Facilities DIF
Revenue 9,100 51,952 - 51,952 49,077 - 49,077 94.5% Expenditures 42,279 59,309 - 59,309 - - - 0.0% Addition to/(use of) reserves (33,179) (7,356) - (7,356) 49,077 - 49,077 Beginning Fund Balance (2,409) (2,409) (2,409) (2,409) Ending Fund Balance (35,588) (9,765) (9,764.860) 46,669 223 L
ibrary DIF
Revenue 1,700 15,101 - 15,101 21,608 - 21,608 143.1% Expenditures 1,700 127,846 - 127,846 1,530 - 1,530 1.2% Addition to/(use of) reserves - (112,745) - (112,745) 20,078 - 20,078 Beginning Fund Balance 167,880 167,880 167,880 167,880 Ending Fund Balance 167,880 55,134 55,134 187,957 224 Sheriff Facilities DIF
Revenue - - - - 6,720 - 6,720 #DIV/0! Expenditures 97,721 168,002 - 168,002 - - - 0.0% Addition to/(use of) reserves (97,721) (168,002) - (168,002) 6,720 - 6,720 Beginning Fund Balance 142,419 142,419 142,419 142,419 Ending Fund Balance 44,698 (25,583) (25,583.21) 149,139 225 Housing in Lieu
Revenue 209,700 209,700 - 209,700 259,020 - 259,020 123.5% Expenditures 25,000 25,000 - 25,000 25,000 - 25,000 100.0% Addition to/(use of) reserves 184,700 184,700 - 184,700 234,020 - 234,020 B
eginning Fund Balance 1,251,357 1,251,357 1,251,357 1,251,357 Ending Fund Balance 1,436,057 1,436,057 1,436,057 1,485,378 Page "2
28 City of Goleta
Interim Statement of Revenues and Expenditures - Summary by Fund For the Quarter Ended June 30, 2024
Attachment 3
Printed Description Original Budget c Current
Budget d Budget
Requests e Proposed
Budget f YTD
Actual
Encum-
brances Totals Percent of
Current Budget
226 Environmental Programs
Revenue 1,300 1,300 - 1,300 8,247 - 8,247 634.4% Expenditures 9,400 9,400 - 9,400 - - - 0.0% Addition to/(use of) reserves (8,100) (8,100) - (8,100) 8,247 - 8,247 Beginning Fund Balance 174,782 174,782 174,782 174,782 Ending Fund Balance 166,682 166,682 166,682 183,029 229 Fire DIF
Revenue 48,000 187,454 - 187,454 335,480 - 335,480 179.0% Expenditures - 4,835,138 - 4,835,138 33,770 - 33,770 0.7% Addition to/(use of) reserves 48,000 (4,647,684) - (4,647,684) 301,709 - 301,709 Beginning Fund Balance 3,452,181 3,452,181 3,452,181 3,452,181 Ending Fund Balance 3,500,181 (1,195,503) (1,195,503) 3,753,890 230 Long Range Development Plan (LRDP)
Revenue 3,031,933 6,189,883 - 6,189,883 2,300,000 - 2,300,000 37.2% Expenditures 3,031,933 6,233,509 - 6,233,509 135,194 (22,436) 112,758 1.8% Addition to/(use of) reserves - (43,626) - (43,626) 2,164,806 22,436 2,187,242 B
eginning Fund Balance 43,626 43,626 43,626 43,626 Ending Fund Balance 43,626 (0) (0) 2,208,432 231 Developer Agreements
Revenue - - 1,600,199 1,600,199 - - - #DIV/0! Expenditures - 270,000 1,600,199 1,870,199 - - - 0.0% Addition to/(use of) reserves - (270,000) - (270,000) - - - Beginning Fund Balance 615,163 615,163 615,163 615,163 Ending Fund Balance 615,163 345,163 345,163 615,163 232 County Fire DIF
Revenue - 849,514 - 849,514 - - - 0.0% Expenditures - 572,440 - 572,440 22,342 - 22,342 3.9% Addition to/(use of) reserves - 277,075 - 277,075 (22,342) - (22,342) Beginning Fund Balance (277,075) (277,075) (277,075) (277,075) Ending Fund Balance (277,075) - - (299,417) 233 OBF-SCE
Revenue - 503,201 (503,201) - - - - 0.0% Expenditures - - 128,210 128,210 128,210 - 128,210 -25.5% Addition to/(use of) reserves - 503,201 (631,411) (128,210) (128,210) - (128,210) Beginning Fund Balance 128,210 128,210 128,210 128,210 Ending Fund Balance 128,210 631,411 - - 234 Storm Drain Facilities
Revenue 40,900 214,476 - 214,476 222,846 - 222,846 103.9% Expenditures 300,000 873,587 - 873,587 129,667 - 129,667 14.8% Addition to/(use of) reserves (259,100) (659,111) - (659,111) 93,179 - 93,179 Beginning Fund Balance 516,264 516,264 516,264 516,264 Ending Fund Balance 257,164 (142,847) (142,847) 609,443 235 Bicycle & Pedestrian Facilities
Revenue 5,400 47,797 - 47,797 52,798 - 52,798 0.0% Expenditures - 272,204 - 272,204 - - - 110.5% Addition to/(use of) reserves 5,400 (224,407) - (224,407) 52,798 - 52,798 Beginning Fund Balance 224,407 224,407 224,407 224,407 Ending Fund Balance 229,807 (0) (0) 277,205 236 M
isc Grants Library
Revenue 2,000 21,782 (2,000) 19,782 19,782 - 19,782 90.8% Expenditures 2,000 54,455 150 54,605 26,146 - 26,146 48.0% Addition to/(use of) reserves - (32,673) (2,150) (34,823) (6,364) - (6,364) Beginning Fund Balance 34,823 34,823 34,823 34,823 Ending Fund Balance 34,823 2,150 - 28,458 237 Local Grants
Revenue - 143,833 - 143,833 75,000 - 75,000 52.1% Expenditures - 83,055 - 83,055 75,000 - 75,000 90.3% Addition to/(use of) reserves - 60,778 - 60,778 - - - Beginning Fund Balance (60,778) (60,778) (60,778) (60,778) Ending Fund Balance (60,778) - - (60,778) 238 Non-Residential Affordable Housing DIF
Revenue 40,700 45,611 - 45,611 300 - 300 0.7% Expenditures - - - - - - - 0.0% Addition to/(use of) reserves 40,700 45,611 - 45,611 300 - 300 Beginning Fund Balance 6,359 6,359 6,359 6,359 Ending Fund Balance 47,059 51,969 51,969 6,659 Page "3
29 City of Goleta
Interim Statement of Revenues and Expenditures - Summary by Fund For the Quarter Ended June 30, 2024
Attachment 3
Printed Description Original Budget c Current
Budget d Budget
Requests e Proposed
Budget f YTD
Actual
Encum-
brances Totals Percent of
Current Budget
239 QUIMBY
Revenue - - - - 3,131,795 - 3,131,795 0.0% Expenditures - - - - - - - 0.0% Addition to/(use of) reserves - - - - 3,131,795 - 3,131,795 Beginning Fund Balance - - - - Ending Fund Balance - - - 3,131,795 301 State Park Grant
Revenue - 177,952 - 177,952 - - - 0.0% Expenditures - 177,952 - 177,952 - - - 0.0% Addition to/(use of) reserves - - - - - - - Beginning Fund Balance - - - - Ending Fund Balance - - - - 302 Public Safety Fund COPS
Revenue 100,000 186,159 - 186,159 186,159 - 186,159 100.0% Expenditures 100,000 186,159 - 186,159 186,159 - 186,159 100.0% Addition to/(use of) reserves - - - - - - - Beginning Fund Balance - - - - Ending Fund Balance - - - - 304 Solid Waste Fund Recycle
Revenue 9,000 100,573 8,456 109,029 109,029 - 109,029 108.4% Expenditures 16,000 128,889 8,456 137,345 40,987 - 40,987 31.8% Addition to/(use of) reserves (7,000) (28,316) - (28,316) 68,042 - 68,042 Beginning Fund Balance 67,650 67,650 67,650 67,650 Ending Fund Balance 60,650 39,334 39,334 135,692 305 RSTP State Grant
Revenue - 565,315 - 565,315 - - - 0.0% Expenditures - 10,150 - 10,150 - - - 0.0% Addition to/(use of) reserves - 555,164 - 555,164 - - - Beginning Fund Balance (420,350) (420,350) (420,350) (420,350) Ending Fund Balance (420,350) 134,814 134,814 (420,350) 306 LSTP
Revenue - 603,109 - 603,109 - - - 0.0% Expenditures - 382,525 - 382,525 21,029 - 21,029 5.5% Addition to/(use of) reserves - 220,584 - 220,584 (21,029) - (21,029) Beginning Fund Balance (220,140) (220,140) (220,140) (220,140) Ending Fund Balance (220,140) 444 444 (241,169) 308 STIP
Revenue - 11,386,694 - 11,386,694 - - - 0.0% Expenditures - 11,372,000 - 11,372,000 - - - 0.0% Addition to/(use of) reserves - 14,694 - 14,694 - - - Beginning Fund Balance (4,309) (4,309) (4,309) (4,309) Ending Fund Balance (4,309) 10,385 10,385 (4,309) 310 CAL FIRE GRANT
Revenue - 1,708,872 - 1,708,872 154,018 - 154,018 9.0% Expenditures - 1,708,872 - 1,708,872 229,139 - 229,139 13.4% Addition to/(use of) reserves - - - - (75,121) - (75,121) Beginning Fund Balance - - - - Ending Fund Balance - - - (75,121) 311 Misc. Grants
Revenue 30,000 302,235 - 302,235 16,727 - 16,727 5.5% Expenditures 80,000 371,164 - 371,164 85,219 - 85,219 23.0% Addition to/(use of) reserves (50,000) (68,929) - (68,929) (68,491) - (68,491) Beginning Fund Balance 68,959 68,959 68,959 68,959 Ending Fund Balance 18,959 30 30 468 317 SSARP Grant
Revenue - 53,000 - 53,000 51,240 - 51,240 96.7% Expenditures - (482) - (482) (2,242) - (2,242) 465.1% Addition to/(use of) reserves - 53,482 - 53,482 53,482 - 53,482 Beginning Fund Balance (53,482) (53,482) (53,482) (53,482) Ending Fund Balance (53,482) - - - 318 Active Transportation Program - State
Revenue - 3,359,000 - 3,359,000 - - - 0.0% Expenditures - 3,344,245 - 3,344,245 2,409,968 - 2,409,968 72.1% Addition to/(use of) reserves - 14,755 - 14,755 (2,409,968) - (2,409,968) Beginning Fund Balance (14,755) (14,755) (14,755) (14,755) Ending Fund Balance (14,755) 0 0 (2,424,723) Page "4
30 City of Goleta
Interim Statement of Revenues and Expenditures - Summary by Fund For the Quarter Ended June 30, 2024
Attachment 3
Printed Description Original Budget c Current
Budget d Budget
Requests e Proposed
Budget f YTD
Actual
Encum-
brances Totals Percent of
Current Budget
319 Housing & Community Development State Fund
Revenue - 153,388 (12,926) 140,462 140,462 - 140,462 91.6% Expenditures - 70,159 (12,926) 57,233 57,233 - 57,233 81.6% Addition to/(use of) reserves - 83,230 - 83,230 83,230 - 83,230 Beginning Fund Balance (83,230) (83,230) (83,230) (83,230) Ending Fund Balance (83,230) - - - 320 Cal OES
Revenue - - - - - - - 0.0% Expenditures - - - - - - - 0.0% Addition to/(use of) reserves - - - - - - - Beginning Fund Balance 14,231 14,231 14,231 14,231 Ending Fund Balance 14,231 14,231 14,231 14,231 321 TIRCP
Revenue 5,559,000 15,360,624 - 15,360,624 361,727 - 361,727 Expenditures 5,559,000 15,330,464 - 15,330,464 521,489 - 521,489 3.4% Addition to/(use of) reserves - 30,160 - 30,160 (159,763) - (159,763) -529.7% Beginning Fund Balance 444 444 444 444 Ending Fund Balance 444 30,604 30,604 (159,319) 322 MBHMP
Revenue - 2,996,008 - 2,996,008 513,012 - 513,012 Expenditures - 2,397,255 - 2,397,255 383,122 - 383,122 16.0% A
ddition to/(use of) reserves - 598,753 - 598,753 129,890 - 129,890 21.7% Beginning Fund Balance (501,205) (501,205) (501,205) (501,205) Ending Fund Balance (501,205) 97,548 97,548 (371,315) 323 Cal OES PSPS Grant
Revenue - - (3) (3) (3) - (3) Expenditures - 5,521 (3) 5,518 5,518 - 5,518 100.0% Addition to/(use of) reserves - (5,521) - (5,521) (5,521) - (5,521) 100.0% Beginning Fund Balance 5,521 5,521 5,521 5,521 Ending Fund Balance 5,521 - - - 324 California Planning Program Grant
Revenue - 7,091 (7,091) - - - - Expenditures - 7,091 (7,091) - - - - 0.0% Addition to/(use of) reserves - - - - - - - 0.0% Beginning Fund Balance - - - - Ending Fund Balance - - - - 325 California State Library Grant
Revenue - 4,278,560 - 4,278,560 2,139,280 - 2,139,280 Expenditures - 4,278,560 - 4,278,560 14,100 - 14,100 0.3% Addition to/(use of) reserves - - - - 2,125,180 - 2,125,180 0.0% Beginning Fund Balance - - - - Ending Fund Balance - - - 2,125,180 401 HBP
Revenue 4,306,653 19,554,611 - 19,554,611 247,697 - 247,697 1.3% Expenditures 4,306,653 19,045,265 - 19,045,265 3,569,914 - 3,569,914 18.7% Addition to/(use of) reserves - 509,346 - 509,346 (3,322,217) - (3,322,217) Beginning Fund Balance (509,346) (509,346) (509,346) (509,346) Ending Fund Balance (509,346) 0 0 (3,831,564) 402 CDBG
Revenue 276,047 725,749 - 725,749 456,696 - 456,696 62.9% Expenditures 389,823 725,749 - 725,749 456,696 - 456,696 62.9% Addition to/(use of) reserves (113,776) - - - - - - Beginning Fund Balance - - - - Ending Fund Balance (113,776) - - - 409 OTS
Revenue - 107,559 - 107,559 1,458 - 1,458 1.4% Expenditures - 103,587 - 103,587 13,140 - 13,140 12.7% Addition to/(use of) reserves - 3,972 - 3,972 (11,682) - (11,682) Beginning Fund Balance (3,972) (3,972) (3,972) (3,972) Ending Fund Balance (3,972) (0) (0) (15,654) 417 HSIP Hwy Safety Imp.

Revenue - 3,120,100 - 3,120,100 - - - 0.0% Expenditures - 3,120,100 - 3,120,100 360,615 - 360,615 11.6% Addition to/(use of) reserves - - - - (360,615) - (360,615) Beginning Fund Balance 5,636 5,636 5,636 5,636 Ending Fund Balance 5,636 5,636 5,636 (354,979) Page "5
31 City of Goleta
Interim Statement of Revenues and Expenditures - Summary by Fund For the Quarter Ended June 30, 2024
Attachment 3
Printed Description Original Budget c Current
Budget d Budget
Requests e Proposed
Budget f YTD
Actual
Encum-
brances Totals Percent of
Current Budget
419 TIGER
Revenue - - - - - - - 0.0% Expenditures - - - - - - - 0.0% Addition to/(use of) reserves - - - - - - - Beginning Fund Balance - - - - Ending Fund Balance - - - - 420 FHWA - FEMA Reimb
Revenue - 87,746 - 87,746 - - - 0.0% Expenditures - 87,746 - 87,746 - - - 0.0% Addition to/(use of) reserves - - - - - - - Beginning Fund Balance 58,107 58,107 58,107 58,107 Ending Fund Balance 58,107 58,107 58,107 58,107 421 Hazard Mitigation Grant Program
Revenue - 3,858,620 - 3,858,620 3,236,922 - 3,236,922 83.9% Expenditures - 2,582,764 - 2,582,764 2,032,748 - 2,032,748 78.7% Addition to/(use of) reserves - 1,275,856 - 1,275,856 1,204,174 - 1,204,174 Beginning Fund Balance (1,275,856) (1,275,856) (1,275,856) (1,275,856) Ending Fund Balance (1,275,856) - - (71,682) 423 Coronavirus State & Local Fiscal Recovery Funds
Revenue - 5,108,990 - 5,108,990 4,057,630 - 4,057,630 79.4% Expenditures 175,000 5,108,990 - 5,108,990 4,057,630 - 4,057,630 79.4% Addition to/(use of) reserves (175,000) - - - - - - Beginning Fund Balance - - - - Ending Fund Balance (175,000) - - - 424 Community Project Funding HMGP
Revenue - 3,000,000 - 3,000,000 - - - 0.0% Expenditures - 3,000,000 - 3,000,000 - - - 0.0% Addition to/(use of) reserves - - - - - - - Beginning Fund Balance - - - - Ending Fund Balance - - - - 501 Library Services
Revenue 603,100 603,100 - 603,100 648,072 - 648,072 107.5% Expenditures 653,100 1,398,533 - 1,398,533 945,490 - 945,490 67.6% Addition to/(use of) reserves (50,000) (795,433) - (795,433) (297,418) - (297,418) Beginning Fund Balance 888,726 888,726 888,726 888,726 Ending Fund Balance 838,726 93,292 93,292 591,308 502 Street Lighting
Revenue 305,500 305,500 - 305,500 321,767 - 321,767 105.3% Expenditures 502,500 520,500 - 520,500 268,567 90,700 359,267 69.0% Addition to/(use of) reserves (197,000) (215,000) - (215,000) 53,201 (90,700) (37,499) Beginning Fund Balance 270,522 270,522 270,522 270,522 Ending Fund Balance 73,522 55,522 55,522 323,723 503 PEG
Revenue 61,000 69,500 - 69,500 63,354 - 63,354 91.2% Expenditures 40,000 45,000 - 45,000 33,886 - 33,886 75.3% Addition to/(use of) reserves 21,000 24,500 - 24,500 29,468 - 29,468 Beginning Fund Balance 237,907 237,907 237,907 237,907 Ending Fund Balance 258,907 262,407 262,407 267,375 504 CASp Cert and Training
Revenue - - - - 1,788 - 1,788 0.0% Expenditures - - - - - - - 0.0% Addition to/(use of) reserves - - - - 1,788 - 1,788 Beginning Fund Balance 1,162 1,162 1,162 1,162 Ending Fund Balance 1,162 1,162 1,162 2,949 605 RDA Successor-NonHousing
Revenue 1,238,700 1,238,700 - 1,238,700 781,643 - 781,643 63.1% Expenditures 1,224,690 1,224,690 - 1,224,690 1,132,646 - 1,132,646 92.5% Addition to/(use of) reserves 14,010 14,010 - 14,010 (351,003) - (351,003) Beginning Fund Balance (9,119,184) (9,119,184) (9,119,184) (9,119,184) Ending Fund Balance (9,105,174) (9,105,174) (9,105,174) (9,470,187) 608 iBank
Revenue - - - - - - - 0.0% Expenditures - - - - - - - 0.0% Addition to/(use of) reserves - - - - - - - Beginning Fund Balance - - - - Ending Fund Balance - - - - Page "6
32 City of Goleta
Interim Statement of Revenues and Expenditures - Summary by Fund For the Quarter Ended June 30, 2024
Attachment 3
Printed Description Original Budget c Current
Budget d Budget
Requests e Proposed
Budget f YTD
Actual
Encum-
brances Totals Percent of
Current Budget
701 Comstock Plover Endmnt
Revenue 2,000 2,000 - 2,000 5,784 - 5,784 289.2% Expenditures 2,000 2,000 - 2,000 - - - 0.0% Addition to/(use of) reserves - - - - 5,784 - 5,784 Beginning Fund Balance 1,974 1,974 1,974 1,974 Ending Fund Balance 1,974 1,974 1,974 7,758 702 Section 115 Trust - Pension
Revenue - - - - 16,586 - 16,586 0.0% Expenditures - - - - 973 - 973 0.0% Addition to/(use of) reserves - - - - 15,613 - 15,613 Beginning Fund Balance 162,792 162,792 162,792 162,792 Ending Fund Balance 162,792 162,792 162,792 178,405 703 Section 115 Trust - OPEB
Revenue - - - - 32,537 - 32,537 0.0% Expenditures - - - - 1,908 - 1,908 0.0% Addition to/(use of) reserves - - - - 30,629 - 30,629 Beginning Fund Balance 319,359 319,359 319,359 319,359 Ending Fund Balance 319,359 319,359 319,359 349,988 801 Developer Deposit
Revenue - - - - - - - 0.0% Expenditures - - - - - - - 0.0% Addition to/(use of) reserves - - - - - - - Beginning Fund Balance - - - - Ending Fund Balance - - - -

TOTAL FOR ALL FUNDS
Revenue 69,688,105 145,274,635 (388,554) 144,886,081 75,464,337 75,464,337 51.9% Expenditures 76,185,237 195,671,088 121,797 195,792,885 71,778,701 (4,653,518) 67,125,183 34.3% Addition to/(use of) reserves (6,497,132) (50,396,453) (510,351) (50,906,804) 3,685,636 (4,653,518) 8,339,154 Beginning Fund Balance 63,711,583 63,711,583 63,711,583 63,711,583 Ending Fund Balance 57,214,451 13,315,130 12,804,779 67,397,219 Page "7
33 ATTACHMENT 4:

Capital Improvement Program (CIP) Expenditure Summary
34 City of Goleta
Capital Improvement Program (CIP) Expenditure Summary
For the Quarter Ended June 30, 2024
Attachment 4
Project No. & Description Current Budget Activity Encumbrances Remaining Budget
9002 Ekwill Street & Fowler Extension $ 42,528,780 $ 7,618,754 $ (3,786,174 ) $ 38,696,200 9006 Capital Improvement Projects - Neighborhood Srvs $ 9,672,998 $ 3,854,584 $ - $ 5,818,414 9007 San Jose Creek Bike Path - Middle Segment $ 838,736 $ 521,213 $ - $ 317,524 9024 Ellwood Mesa $ 1,547 $ - $ - $ 1,547 9025 Fire Station No. 10 $ 5,677,578 $ 56,113 $ - $ 5,621,465 9027 101 Overpass $ 47,803 $ - $ - $ 47,803 9031 Old Town Sidewalk Improvement $ 25,245 $ - $ - $ 25,245 9033 Hollister Avenue Bridge Replacement (SJC Phase II) $ 22,486,269 $ 4,115,080 $ (986,900 ) $ 19,358,089 9042 Storke Road Widening Phelps Road to City Limits $ 489,856 $ - $ - $ 489,856 9044 Hollister Widen Storke to 280 Ft W of S Glen Annie $ 13,684 $ - $ - $ 13,684 9053 Cathedral Oaks Cribwall Interim Repair $ 1,173,154 $ 356,030 $ - $ 817,124 9056 LED Street Lighting Project $ 90,007 $ 153,902 $ - $ (63,894 ) 9062 Storke Road Medians $ 621,352 $ 41,476 $ - $ 579,876 9063 Evergreen Park Restroom $ 258,506 $ - $ - $ 258,506 9065 Reclaimed Water Service to Bella Vista Park $ 204,141 $ - $ - $ 204,141 9066 Miscellaneous Park Improvements $ 22,289 $ - $ - $ 22,289 9067 Goleta Community Center Seismic Upgrades $ 4,659,015 $ 3,002,344 $ - $ 1,656,671 9071 Improvements to Athletic Field @ GCC $ 27,918 $ - $ - $ 27,918 9074 Stow Grove Park Master Plan & Renovation $ 1,283,758 $ 60,247 $ - $ 1,223,511 9078 Rancho La Patera Improvements $ 648,304 $ - $ - $ 648,304 9079 Goleta Train Depot & S. La Patera Improvements $ 15,447,593 $ 553,740 $ - $ 14,893,853 9083 Signal Upgrades $ 3,543,633 $ 360,615 $ - $ 3,183,018 9084 Community Garden $ 1,957,524 $ 1,570,673 $ - $ 386,851 9085 Old Town Goleta Drainage Study $ 200,000 $ - $ - $ 200,000 9086 Vision Zero Plan $ 10,000 $ - $ - $ 10,000 9087 Mid-Block Crossing on Calle Real/Encina (HAWK) $ 771 $ 537 $ - $ 234 9088 RRFB Improvements at School Crosswalks $ 67,514 $ - $ - $ 67,514 9089 Goleta Traffic Safety Study (GTSS) $ 45,817 $ - $ - $ 45,817 9093 San Miguel Park Improvements $ 275,000 $ - $ - $ 275,000 9094 Santa Barbara Shores Park Improvements $ 305,000 $ - $ - $ 305,000 9099 Crosswalk at Calle Real @ Fairview $ 182,105 $ 132,927 $ - $ 49,178 9101 City Hall Purchase & Improvements $ 628,014 $ 3,526 $ - $ 624,488 9106 Phelps Ditch Flood Control Channel Trash Control $ 50,000 $ - $ - $ 50,000 9107 Old Town S Fairview Av High Flow Trash Capture D $ 623,587 $ 44,105 $ - $ 579,482 9108 Winchester II Park $ 59,641 $ - $ - $ 59,641 9110 Hollister Ave Class 1 Bike Path Lighting $ 422,346 $ 27,393 $ - $ 394,953 9111 Jonny D. Wallis Park Phase 2 - Splash Pad $ 2,317,544 $ 1,725,988 $ - $ 591,555 9112 Ellwood Mesa/Sperling Preserve Open Space Plan $ 2,847,255 $ 470,257 $ - $ 2,376,998 9113 Mathilda Park Improvements $ 509,981 $ 66,549 $ - $ 443,431 9114 Hollister Ave Old Town Interim Striping Project $ 70,725 $ 16,479 $ - $ 54,246 9115 Public Works Corp Yard Repairs $ 70,321 $ - $ - $ 70,321 9116 Pickleball Courts $ 100,000 $ - $ - $ 100,000 9117 San Jose Creek Channel Fish Passage Modification $ 469,718 $ 267,369 $ - $ 202,349 9118 Ellwood Coastal Trails & Habitat Restoration $ 208,500 $ - $ - $ 208,500 9119 Ellwood Beach Drive Drainage $ 234,359 $ 72,694 $ - $ 161,665 9120 Evergreen Park Drainage Repair $ 198,972 $ 54,070 $ - $ 144,903 9121 Goleta Community Center ADA Improvements $ 3,758,899 $ 196,056 $ - $ 3,562,842 9126 Pickleball Entry/Waiting Area at GCC $ 185,000 $ 6,240 $ - $ 178,760 9127 Goleta Community Center Campus Refresh $ 54,431 $ 6,375 $ - $ 48,056 9130 Goleta Library ADA and Building Refresh $ 5,348,200 $ 17,625 $ - $ 5,330,575 9131 Historic Train Station Preservation $ 250,000 $ 9,800 $ - $ 240,200 9133 Hollister Ave Sidewalk Improvement at Ellwood School Project $ 100,000 $ - $ - $ 100,000 9807 Goleta Prepare Now Grant $ 519 $ 519 $ - $ - 9901 MIS/ERP System Implementation $ 235,370 $ - $ - $ 235,370 Grand Total $ 131,549,279 $25,383,278 $ (4,773,074 ) $ 110,939,075 35 ATTACHMENT 5:

Resolution No. 2 4-__ entitled, “A Resolution of the City Council of the City of Goleta, California, Amending the City of Goleta Operating and CIP Budget for Fiscal Year 2023/24

36 Attachment 5

RESOLUTION NO. 24-___

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

GOLETA, CALIFORNIA , AMENDING THE CITY OF GOLETA
OPERATING AND CIP BUDGET FOR FISCAL YEAR 2023/24.

WHEREAS, the City Council of the City of Goleta adopted the Operating Budget and Capital Improvement Program for Fiscal Year 2023/24 on June 20, 2023; and

WHEREAS, the City Manager has proposed a budget adjustment as described in the Council report dated September 17 , 202 4 for Fiscal Year 2023/24 based on the determination by the City Manager that this adjustment is essential to the City’s operations; and

WHEREAS, the City Council has reviewed the proposed b udget adjustments for the Fourth Quarter Ended June 30, 2024 and does hereby find the recommendation to be necessary and in the City’s best interest; and

WHEREAS, Section 2.1 of the City of Goleta Personnel Rules specifies that the Personnel Officer shall recommend and maintain a classification/compensation plan for all positions in the City service; and

WHEREAS, on July 18, 2023 , August 15 , 2023, December 19 , 2023 , March 5, 2024 , and June 4, 2024 the City Council adopted most recent said recommended authorized positions , salary schedule and appropriations for the City of Goleta Operating and CIP Budget for Fiscal Year 2023/24; and

WHEREAS, the City Council has reviewed the proposed amended authorized positions, and budget adjustments for Fiscal Year 202 3/24 and does hereby find the recommendation to be necessary in the City’s best interest.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF GOLETA AS FOLLOWS:

SECTION 1.

The City of Goleta Operating and CIP Budget for Fiscal Year 2023/24 is hereby amended as follows as per Exhibit A to this resolution.

SECTION 2.

The City Clerk shall certify to the passage and adoption o f this resolution and enter it into the book of original resolutions.
37 Attachment 5

PASSED, APPROVED, AND ADOPTED this 17th day of September, 2024.

__________________________

PAULA PEROTTE, MAYOR

ATTEST: APPROVED AS TO FORM:

_____________________________ ___________________________ DEBORAH S. LOPEZ MEGAN GARIBALDI

CITY CLERK CITY ATTORNEY
38 Attachment 5

STATE OF CALIFORNIA )
COUNTY OF SANTA BARBARA ) ss.

CITY OF GOLETA )

I, DEBORAH S. LOPEZ, City Clerk of the City of Goleta, California, DO HEREBY CERTIFY that the foregoing Resolution No. 24-___ was duly adopted by the City Council of the City of Goleta at a regular meeting held on the 17th day of September 2024, by the following vote of the Council:

AYES:

NOES:

ABSENT:

(SEAL)

_________________________
DEBORAH S. LOPEZ

CITY CLERK

39 Schedule of FY 2023/24
4th QTR Adjustments - Revenues
Exhibit A
Program/Project
Name Fund Proj Object Account Code Requests Account Name FY 2023/24
Current
Budget
FY 2023/24
Actuals
FY 2023/24
Budget
Balance
Type of
Request
FY 2023/24
Amended Budget
FY 2023/24
Adjusted
Budget Balance
Current Planning 101 4100 42110 101-40-4100-42110 54,212.06 Administrative Citations - 64,552.60 (64,552.60) Cleanup 54,212.06 (10,340.54) Non-Departmental 101 8500 42101 101-80-8500-42101 (54,212.06) Penalties and Costs on Delinquent Taxes 70,000.00 15,787.94 54,212.06 Cleanup 15,787.94 - Non-Departmental 101 8500 46000 101-80-8500-46000 (1,600,199.00) Miscellaneous Revenue 1,600,199.00 6,204.36 1,593,994.64 Transfer - (6,204.36) LED Street
Lighting Project 101 9056 49010 101-90-9056-49010 128,210.41 Transfers In from OBF-SCE Fund - 128,210.41 (128,210.41) Cleanup 128,210.41 - Ekwill Street &
Fowler Extension 231 9002 40602 231-90-9002-40602 1,600,199.00 Developer Agreement Revenue - - - Transfer 1,600,199.00 1,600,199.00 LED Street
Lighting Project 233 9056 44701 233-90-9056-44701 (503,200.59) Grant Proceeds - Other Agencies 503,200.59 - 503,200.59 Cleanup - - Buellton Library 236 2200 44701 236-20-2200-44701 (2,000.00) Grant Proceeds - Other Agencies 4,175.00 2,175.00 2,000.00 Cleanup 2,175.00 - Solid Waste &
Environmental 304 5900 44400 304-50-5900-44400 8,456.00 Grant Proceeds - State 100,573.00 109,029.00 (8,456.00) Cleanup 109,029.00 - Advance Planning 319 4300 44400 319-40-4300-44400 (12,926.00) Grant Proceeds - State 153,388.25 140,462.25 12,926.00 Cleanup 140,462.25 - Neighborhood
Services 323 6100 44400 323-60-6100-44400 (2.68) Grant Proceeds - State - (2.68) 2.68 Cleanup (2.68) - A
dvance Planning 324 4300 44400 324-40-4300-44400 (7,090.80) Grant Proceeds - State 7,090.80 - 7,090.80 Cleanup - - Total (388,553.66)$
40 Schedule of FY 2023/24
4th QTR Adjustments - Expenditures
Exhibit A
Program/Project
Name Fund Department Program Subcategory Account Code

Appropriation/
Transfer
Requests
Account Name FY 2023/24
Current Budget
FY 2023/24
Actuals
FY 2023/24
Encumbrance
FY 2023/24
Budget
Balance
Type of
Request
FY 2023/24
Amended
Budget
FY 2023/24
Adjusted Budget
Balance
Frequency
City Manager 101 10 General
Government 1200 City Manager 5120 Professional &
Contract Services 101-10-1200-51200 (19,381.19) Professional Services 431,287.50 208,591.95 - 222,695.55 Transfer 411,906.31 203,314 .36 One-Time Facilities 101 18 General Services 1810 Facilities 5106 Maintenance and Repairs 101-18-1810-51064 (60,000.00) Maintenance- Facilities 511,134.72 338,454.00 - 172,680.72 Transfer 451,134.72 112,680 .72 One-Time Goleta Library 101 20 Library Services 2100 Goleta Library 5103 Supplies 101-20-2100-51035 5,000.00 Books & Subscriptions 83,751.07 21,968.84 - 61,782.23 New 88,751.07 66,782 .23 One-Time Police Services 101 70 Police Services 7100 Police Services 5120 Professional & Contract Services 101-70-7100-51305 19,381.19
Contract
Services - Law
Enforcement
10,698,711.00 10,718,092.19 - (19,381.19) Transfer 10,718,092.19 - One-Time Ekwill Street & Fowler
Extension 101 90 Capital
Improvement
9002 Ekwill Street &
Fowler Extension 5707 Capital Project 101-90-9002-57071 (1,600,199.00) Construction 10,112,492.95 816.48 - 10,111,676.47 Transfer 8,512,293.95 8,511,477.47 One-Time Cathedral Oaks Cribwall
Interim Repair 101 90 Capital
Improvement
9053 Cathedral Oaks
Cribwall Interim Repair 5707 Capital Project 101-90-9053-57070 41,728.81 Design 1,085,408.24 356,029.93 - 729,378.31 Transfer 1,127,137.05 771,107.12 One-Time LED Street Lighting
Project 101 90 Capital
Improvement
9056 LED Street Lighting
Project
5701 Machinery &
Equipment 101-90-9056-57010 (2,045.14) Machinery & Equipment 2,045.14 - - 2,045.14 Transfer - - One-Time LED Street Lighting
Project 101 90 C
apital
Improvement
9056 LED Street Lighting
Project 5707 Capital Project 101-90-9056-57070 (1,124.41) Design 1,124.41 - - 1,124.41 Transfer - - One-Time LED Street Lighting
Project 101 90 Capital
Improvement
9056 LED Street Lighting
Project 5707 Capital Project 101-90-9056-57071 (27,126.00) Construction 68,837.93 25,691.40 - 43,146.53 Transfer 41,711.93 16,020.53 One-Time RRFB Improvements at
School Crosswalks 101 90 Capital
Improvement
9088 RRFB
Improvements at School
Crosswalks
5707 Capital Project 101-90-9088-57071 (11,433.26) Construction 13,130.08 1,696.82 - 11,433.26 Transfer 1,696.82 (0.00) One-Time City Hall Purchase &
Improvements 101 90 Capital
Improvement
9101 City Hall Purchase
& Improvements 5707 Capital Project 101-90-9101-57071 60,000.00 Construction 372,723.00 3,525.53 - 369,197.47 Transfer 432,723.00 429,197.47 One-Time Capital Improvement
Projects - Neighborhood
Srvs
205 90 Capital
Improvement
9006 Capital
Improvement Projects -
Neighborhood Srvs
5707 Capital Project 205-90-9006-57071 13,684.46 Construction 3,439,414.41 1,000,000.00 - 2,439,414.41 Transfer 3,453,098.87 2 ,453,098.87 One-Time Hollister Widen Storke
to 280 Ft W of S Glen
Annie
205 90 Capital
Improvement
9044 Hollister Widen
Storke to 280 Ft W of S
Glen Annie
5707 Capital Project 205-90-9044-57070 (13,684.46) Design 13,684.46 - - 13,684.46 Transfer - - One-Time Mid-Block Crossing on
Calle Real/Encina
(HAWK)
205 90 Capital
Improvement
9087 Mid-Block Crossing
on Calle Real/Encina
(HAWK)
5707 Capital Project 205-90-9087-57071 475.79 Construction 60.78 536.57 - (475.79) Transfer 536.57 - One-Time Goleta Traffic Safety
Study (GTSS) 205 90 Capital
Improvement
9089 Goleta Traffic
Safety Study (GTSS) 5707 Capital Project 205-90-9089-57070 (475.79) Design 46,299.03 2,241.67 - 44,057.36 Transfer 45,823.24 43,581.57 One-Time Ekwill Street & Fowler
Extension 231 90 Capital
Improvement
9002 Ekwill Street &
Fowler Extension 5707 Capital Project 231-90-9002-57071 1,600,199.00 Construction - - - - Transfer 1,600,199.00 1,600,199.00 One-Time LED Street Lighting
Project 233 90 Capital
Improvement
9056 LED
Street Lighting
Project 5900 Transfers Out 233-90-9056-59000 128,210.41 Transfers Out
to General
Fund
- 128,210.41 - (128,210.41) Cleanup 128,210.41 - One-Time Buellton Library 236 20 Library Services 2200 Buellton Library 5103 Supplies 236-20-2200-51035 2,150.00 Books & Subscriptions 6,625.00 8,775.00 - (2,150.00) Cleanup 8,775.00 - One-Time Buellton Library 236 20 Library Services 2200 Buellton Library 5120 Professional & Contract Services 236-20-2200-51200 (2,000.00) Professional Services 2,000.00 - - 2,000.00 Cleanup - - One-Time 41 Schedule of FY 2023/24
4th QTR Adjustments - Expenditures
Exhibit A
Program/Project
Name Fund Department Program Subcategory Account Code

Appropriation/
Transfer
Requests
Account Name FY 2023/24
Current Budget
FY 2023/24
Actuals
FY 2023/24
Encumbrance
FY 2023/24
Budget
Balance
Type of
Request
FY 2023/24
Amended
Budget
FY 2023/24
Adjusted Budget
Balance
Frequency
Solid Waste &
Environmental 304 50 Public Works 5900 Environmental
Services 5103 Supplies 304-50-5900-51031 8,456.00 Special
Department
Supplies
259.50 8,715.50 - (8,456.00) Cleanup 8,715.50 - One-Time Advance Planning 319 40 Community
Development 4300 Advance Planning 5120 Professional &
Contract Services 319-40-4300-51200 (12,926.00) Professional Services 70,158.75 57,232.75 - 12,926.00 Cleanup 57,232.75 - One-Time Neighborhood Services 323
60 Neighborhood
Services & Public
Safety
6100 Neighborhood
Services
5120 Professional &
Contract Services 323-60-6100-51200 (0.70) Professional Services 5,518.88 5,518.18 - 0.70 Cleanup 5,518.18 - One-Time Neighborhood Services 323
60 Neighborhood
Services & Public
Safety
6100 Neighborhood
Services
5701 Machinery &
Equipment 323-60-6100-57010 (1.98) Machinery & Equipment 1.98 - - 1.98 Cleanup - - One-Time Advance Planning 324 40 Community
Development 4300 Advance Planning 5120 Professional &
Contract Services 324-40-4300-51200 (7,090.80) Professional Services 7,090.80 - - 7,090.80 Cleanup - - One-Time Total 121,796.93$
42 ATTACHMENT 6:

Fiscal Year 2023/24 Fourth Quarter
Financial Review Presentation
43 Fiscal Year 2023/24
Fourth Quarter
Financial Review
(Unaudited)
City Council Meeting
September 17, 2024
Presentation by:

Luke Rioux, Finance Director
44 General Fund Budget Summary
September 17, 2024 – FY 2023/24 Fourth Quarter Financial Review (Unaudited) 2 FY 23/24 Revenues – Actuals at $45.6 million
FY 23/24 Expenditures – Actuals at $40.3 million
Comparison of FY 23/24 budget and actuals versus the past three fiscal years:

A snapshot of the City’s General Fund financial position at June 30th FY 2020/21 FY 2021/22 FY 2022/23 Prior Year
Year End
Actuals
Year End
Actuals
Year End
Actuals
Current
Budget
Year End
Actuals
%
Realized
Year End
% Chg
Revenues and Other Sources 41,007,446$ 37,623,480$ 38,357,365$ 45,420,572$ 45,602,892$ 100.4% 18.9% Operating Expenditures 24,225,764$ 30,895,556$ 36,998,432$ 48,507,353$ 38,337,441$ 79.0% 3.6% Capital Expenditures 1,266,975$ 251,642$ 1,258,615$ 17,913,121$ 1,996,148$ 11.1% 58.6% Total Expenditures 25,492,739$ 31,147,198$ 38,257,047$ 66,420,474$ 40,333,589$ 60.7% 5.4% Net Change to Fund Balance 15,514,707$ 6,476,282$ 100,318$ (20,999,902)$ 5,269,303$ Beginning Fund Balance 17,277,951$ 32,792,658$ 39,268,940$ 39,369,258$ 39,369,258$ Ending Fund Balance 32,792,658$ 39,268,940$ 39,369,258$ 18,369,356$ 44,638,561$ Category
FY 2023/24
45 Summary of GF Revenues
September 17, 2024 – FY 2023/24 Fourth Quarter Financial Review (Unaudited) 3 (1)
Prior Year
Revenues Year End Actuals
Qtr YTD
Actuals
Current
Budget Qtr YTD Actuals
%
Realized
Qtr YTD
% Chg
Property Taxes 9,332,590 9,332,590 9,428,714 9,698,885 102.9% 3.9% Sales Taxes 8,726,058 8,726,058 8,702,900 8,652,089 99.4% -0.8% Transaction and Use Tax - - 5,300,000 5,069,832 95.7% - Transient Occupancy Tax 13,884,890 13,884,890 13,400,000 14,234,251 106.2% 2.5% Cannabis Tax 1,021,742 1,021,742 630,000 762,455 121.0% -25.4% Franchise Fee Tax 1,636,443 1,636,443 1,601,000 1,678,956 104.9% 2.6% License & Service Charges 2,120,862 2,120,862 2,270,800 2,422,132 106.7% 14.2% Fines & Penalties 170,039 170,039 182,000 223,910 123.0% 31.7% Interest & Rent Income 996,093 996,093 1,510,000 2,070,886 137.1% 107.9% Reimbursements 314,505 314,505 333,000 481,061 144.5% 53.0% Other Revenues 125,585 125,585 2,011,449 146,157 7.3% 16.4% Other Sources 28,558 28,558 50,709 162,278 320.0% 468.2% Total Revenues 38,357,365$ 38,357,365$ 45,420,572$ 45,602,892$ 100.4% 18.9% FY 2023/24FY 2022/23
46 Summary of GF Expenditures
September 17, 2024 – FY 2023/24 Fourth Quarter Financial Review (Unaudited) 4 Prior Year
Year End Actuals
Qtr YTD
Actuals
Current
Budget

QTR YTD
Actuals
%
Realized
Qtr YTD
% Chg
General Government 6,090,972 6,090,972 6,577,740 5,810,188 88.3% -4.6% General Services 2,823,600 2,823,600 4,234,844 3,206,031 75.7% 13.5% Library 369,363 369,363 388,511 193,851 49.9% -47.5%
Finance 1,391,911 1,391,911 1,849,300 1,715,939 92.8% 23.3% Planning & Env. Review 3,717,494 3,717,494 5,513,142 4,620,554 83.8% 24.3% Public Works 9,267,171 9,267,171 15,291,085 8,811,038 57.6% -4.9% Neighborhood Services 2,340,295 2,340,295 3,045,021 2,354,098 77.3% 0.6% Public Safety 9,157,530 9,157,530 10,715,211 10,733,668 100.2% 17.2% Non-Departmental 1,840,096 1,840,096 892,500 892,073 100.0% -51.5% Capital Improvement Projects 1,258,615 1,258,615 17,913,121 1,996,148 11.1% 58.6% Total Expenditures 38,257,047$ 38,257,047$ 66,420,474$ 40,333,589$ 60.7% 5.4% Expenditures
FY 2023/24FY 2022/23
47 Fund Balance and Reserves
September 17, 2024 – FY 2023/24 Fourth Quarter Financial Review (Unaudited) 5  Revised based on current information
 Unassigned fund balance $1.7 million
 Contingency reserve at $14.5 million
 Final numbers in December
Estimated fund balance at June 30, 2024 (Still under review) Classification
FY 22/23
Ending Fund Balance Increase Decrease
FY 23/24
Est. Ending Fund
Balance
Reserve
Adjustments
FY 23/24 Revised
Est. Ending Fund
Balance
Prepaids and Deposit 15,049 15,049 77,585 92,635 City Hall Solar Removal 94,500 94,500 94,500 Public Facilities/Building
Maintenance 830,108 (73,115) 756,993 756,993 Capital Equipment 791,653 791,653 8,347 800,000 Compensated Leave 428,625 428,625 86,544 515,169 Risk Management 200,000 200,000 200,000 Litigation Defense Fund 600,000 600,000 600,000 Contingency 11,235,254 1,593,486 12,828,740 1,645,026 14,473,766 Street Maintenance - - - Sustainability - - -

OPEB UAL - - - CalPERS Pension UAL - - - IT Reserve - 160,000 160,000 160,000 CIP Project Funding 7,521,823 (7,521,823) - 14,376,774 14,376,774 Encumbrances 4,992,090 (4,992,090) - 5,473,117 5,473,117 FMV Adjustment 519,117 519,117 (412,596) 106,521 Unassigned Fund Balance -
Adjustment for FY 24/25 3,000,000 - (3,000,000) - 5,281,900 5,281,900 Unassigned Fund Balance 9,141,039 - 19,102,845 28,243,883 (26,536,699) 1,707,185 Total Fund Balance 39,369,258 1,753,486$ 3,515,817$ 44,638,560$ -$ 44,638,560$ 48 Capital Improvement Program
September 17, 2024 – FY 2023/24 Fourth Quarter Financial Review (Unaudited) 6 Special revenue funds evaluated and provided in summary (Attachment 3) CIP Summary by project reviewed for adequate funds (Attachment 4) CIP budget balances for all funds have been reviewed for carryovers and posted Various recommended adjustments to special revenue funds, details can be seen in Attachment 5 –
Exhibit A.
49 Looking Ahead
September 17, 2024 – FY 2023/24 Fourth Quarter Financial Review (Unaudited) 7 Date Description
September 17, 2024 FY 23/24 Fourth Quarter Financial Review December 3, 2024
Council Meeting
FY 24/25 First Quarter Financial Review
December 17, 2024
Council Meeting
Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2024 (Audited Financial Statements)
February 18, 2025 FY 24/25 Second Quarter (Mid-Year) Financial Review 50 ATTACHMENT 7:

Donation Acceptance Form
51 NOTE: The City of Goleta cannot guarantee future funding for repair, maintenance, use or replacement of donated items. cc: City Council, Finance Department, City Clerk

CITY OF GOLETA

DONATION ACCEPTANCE FORM
Name of Donor:______________________________________________________________________ Address:________________________________ City: ______________ State: ______ Zip:__________ Description of donation: ________________________________________________________________ ___________________________________________________________________________________ Donor estimate of current value: _________________________________________________________ Potential immediate or initial acquisition or installation cost, any on-going maintenance or replacement cost: ___________________________________________________________________ ___________________________________________________________________________________ Intended use:
_______________________________________________________________________ ___________________________________________________________________________________ Conditions of acceptance or donor designation: ____________________________________________ ___________________________________________________________________________________ Remarks: __________________________________________________________________________ ___________________________________________________________________________________ City Department receiving donation: _____________________________________________________

APPROVED / DISAPPROVED

________________________ ______________________________ Date Department Head Signature
________________________ ______________________________ Date City Manager Signature
________________________ ______________________________ Date Submitted to Council Date Approved by Council
________________________ ______________________________ Date Mayor Signature
Sterling Price Trust
1329 Georgina Avenue
Santa Monica
CA
90402-2121
$25,000
General donation to support library services at the Solvang Library.

Neighborhood Services, Library Division-Solvang Library.

Distribution of the estate of Sterling Price, deceased. 52