Annual Proposed BudgetGeneral Fund and Other Restricted Funds FY 23-24
April 25, 2023
1 Budget Discussion
Council priorities and multi-year goals
Overall general assumptions applied - Baseline
Significant budget increases and budget impact of the following increases General Fund
Non-General Fund programs
Policy direction
2 Council’s Priorities and Multi-Year Goals
3 Overall Assumptions Used(Baseline)
4 CalPERS Unfunded Actuarial Liability (UAL)
5 Funding Ratio: 86%
Significant Budget Increases and budget impact
6 General Fund Analysis
General Fund
Revenue Estimates
Expenditures Projections
Projected Net Annual Results
Five Year Forecast
7 General FundRevenue Estimates
8 General FundExpenditure Projections
Salaries and benefits – accounts for almost 60% of total General Fund expenses.
The General Fund expenditures are projected to increase by 8% compared to the prior fiscal year budget. 9 General FundProjected Annual Results
10 General FundFive-Year Forecast
11 Special Revenue Funds Budget Highlights
12 Special Revenue Funds Budget Highlights (Cont’d)
13 Sewer Enterprise FundBudget Highlights
The Sewer Enterprise Fund pays for the sewer system’s operations, maintenance, and capital improvement FY 23-24 operating budget is estimated to be:
$4.1 million in ongoing operating expenditures;
$2 million in debt service obligation; and
$785K in capital improvements
The City collects approximately $6 million a year in service charges from over 8,400 connection The City is also conducting a sewer rate study to carefully assess and understand the City’s utility system and develop a tailored approach that will best serve the needs of the sewer fund. 14 Internal Service Funds (ISF)
15 Debt Service Obligations
16 Capital Improvement Projects (CIP)Funding Sources
17 Policy Direction
18 Policy Direction
19 Questions & Comments
20