FY 2024-25
Budget Update
& Major Goals
Work Program
GROVERBEACH.ORG
Nick Szamet, Director of
Administrative Services &
Kristin Eriksson, Assistant
City Manager
Budget Process
GROVERBEACH.ORG
• FY 2024-25 is the second year in the City
biennial budget cycle.
• The annual budget process began in February with
the General Fund five-year forecast and mid-year
budget presentation.
• FY 2024-25 is second year of two-year budget
cycle.
• The budget to be presented on June 10th will have
small incremental changes for Council’s review.
General Fund Revenues
GROVERBEACH.ORG
• FY2024-25 Projections:
• Property Tax – 4% increase.
• Sales Tax – 3% increase.
• Cannabis Tax – no increase.
• Transient Occupancy Tax (TOT) – 18%
increase.
• Franchise Tax – 12% increase.
2024-2025
Property Tax 5,949,000
Sales Tax 6,170,000
Transient Occupancy Tax 1,186,000
Cannabis Tax 1,224,000
Franchise Fees 947,000
General Fund Expenses
GROVERBEACH.ORG
• Considerations for Next Year’s Budget:
• Budget levels are largely set for expenses given they were planned in prior budget cycle.
• Items which may impact expense projections:
• Labor negotiations for all groups.
• Legal expenses.
• Equipment replacement.
General Fund Summary
GROVERBEACH.ORG
• The proposed General Fund budget for FY 2024-25 will be balanced with revenues and expenditures equaling $18.4
million.
• Projected surplus of $60,000.
• CIP contribution of $600,000.
• Ending reserves of approximately 30% of operating expenditures compared with the Council’s reserve goal of 25%.
Major City Goals Work Programs
GROVERBEACH.ORG
• Council Goals Workshop February 29
• Did not elect to change FY 2023-25 Council Goals
• Major City Goals Work Program Updates – tasks to carry out FY 2024-25 Goals
• Economic Development and Community Promotion
• Housing and Homelessness
• Public Safety
• Street Maintenance and Complete Streets
Economic Development & Community
Promotion
GROVERBEACH.ORG
• Review the City’s Development Code
and Economic Development Strategy
for economic development
opportunities
• Continue to work with developers for
mixed-use development along West
Grand Avenue and hotels along El
Camino Real and the proposed project
at the State Parks site
• Complete transition to new permitting
software system
Economic Development & Community
Promotion
GROVERBEACH.ORG
• Update the City’s sign ordinance
• Conduct outreach and continue
regulatory oversight of the cannabis
industry
• Continue to work with regional
partners on local business
cooperation, tourism marketing and
business recruitment and retention
Housing & Homelessness
GROVERBEACH.ORG
• Establish Community Development forum on housing
policies and development
• Implement updates to the Development Code & identify
opportunities for additional updates
• Streamline permitting processes for housing
development
• Finalize and adopt updated Development Impact Fees
and develop a policy for affordable housing units
Housing & Homelessness
GROVERBEACH.ORG
• Continue work with 5CHC and other
agencies to secure funding for
operations of temporary housing facilities
• Continue camping ordinance
enforcement and encampment cleanups
• Continue to seek grant funding for
supportive services for low-income
individuals and for infrastructure to
support affordable residential projects
Public Safety
GROVERBEACH.ORG
• Continue Health and Wellness Program
• Continue community engagement efforts,
including a Citizen’s Police Academy
• Complete rebranding of police vehicles
Public Safety
GROVERBEACH.ORG
• Implement agreement with the
County for fire and emergency
medical services for Oceano
• Assess Fire Prevention and Code
Enforcement service level options for
FCFA service area
• Complete Standards of Coverage
assessment of the FCFA response
area
Street Maintenance & Complete Streets
GROVERBEACH.ORG
• Complete construction of West Grand
Avenue Streetscape Project from 4th – 8th
Streets
• Continue work on Measure K-14 projects
in progress
• Complete construction of annual street
maintenance project
• Future budget agenda items
• Budget hearing June 10
• Budget adoption June 24
GROVERBEACH.ORG
Next Steps
Questions
GROVERBEACH.ORG