General Fund
Five-Year Financial Forecast
Description / Highlights
Fund Activity
Year 1 Year 2 Year 3 Year 4 Year 5
FY 21-22 FY 22-23 FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 29-30 Actual Actual Budget Proposed Forecast Forecast Forecast Forecast Forecast Beginning Available Balance $2,138,829 $977,254 $1,808,562 $1,911,018 $1,987,277 $1,140,277 ($251,723) ($119,723) ($42,723) Revenues
Taxes
Utility User Tax 3,828,410 3,996,274 3,756,633 3,988,000 4,220,000 4,234,000 4,295,000 4,358,000 4,445,000 Sales Tax 6,263,066 6,192,500 6,178,700 6,296,000 6,557,000 6,802,000 7,035,000 7,284,000 7,539,000 Property Taxes 1,524,791 1,638,581 1,603,000 1,641,000 1,674,000 1,708,000 1,742,000 1,777,000 1,813,000 Franchise Fees 970,054 988,108 923,100 979,000 998,000 1,017,000 1,036,000 1,056,000 1,076,000 Business Licenses 257,289 274,540 279,480 282,000 288,000 294,000 300,000 306,000 312,000 Transfer Tax 199,673 120,539 148,920 150,000 153,000 156,000 159,000 162,000 165,000 Transient Occupancy Tax 25,778 30,518 116,280 215,000 219,000 223,000 227,000 232,000 237,000 Vehicle License Fee (VLF) and Other
Intergovernmental 2,391,327 2,527,866 2,561,220 2,655,000 2,708,000 2,762,000 2,817,000 2,873,000 2,931,000 Fines & Forefeitures 48,663 46,057 38,760 45,000 45,000 45,000 45,000 45,000 45,000 Program Revenues
Community Development 329,134 349,874 173,075 198,000 201,000 203,000 205,000 207,000 209,000 Parks and Recreation 1,034,173 1,423,642 1,300,640 1,466,350 1,497,000 1,525,000 1,554,000 1,584,000 1,615,000 Police 136,878 196,189 116,700 115,000 116,000 117,000 118,000 119,000 120,000 Public Works 10,464 30,776 38,760 31,000 32,000 33,000 34,000 35,000 36,000 Other 6,723 12,231 11,220 12,000 12,000 12,000 12,000 12,000 12,000 Use of Money & Property 347,905 794,570 292,320 799,000 726,000 740,000 756,000 773,000 789,000 Cost allocated to other funds 624,568 588,529 736,352 786,917 761,000 784,000 808,000 832,000 848,000 Transfers In 396,816 150,000 156,727 176,556 150,000 150,000 150,000 150,000 150,000 18,395,712 19,360,794 18,431,887 19,835,823 20,357,000 20,805,000 21,293,000 21,805,000 22,342,000 Expenditures
Police 7,759,504 8,430,069 8,367,070 9,124,961 9,481,000 9,838,000 10,136,000 10,434,000 10,743,000 Public Works 313,571 417,265 454,663 429,968 548,000 562,000 576,000 590,000 605,000 Community Development 724,190 511,989 933,497 1,014,244 1,046,000 1,079,000 1,108,000 1,137,000 1,167,000 Parks and Recreation 1,952,419 2,408,847 2,494,876 2,591,807 2,675,000 2,757,000 2,833,000 2,909,000 2,985,000 City Council 330,296 329,843 335,677 360,263 368,000 376,000 385,000 393,000 403,000 City Manager 496,216 491,141 496,565 505,924 524,000 541,000 555,000 569,000 584,000 Human Resources 308,009 258,427 385,440 380,143 395,000 405,000 414,000 423,000 432,000 Legal 209,134 193,487 281,190 289,600 299,000 308,000 317,000 326,000 336,000 City Clerk 377,112 408,679 514,940 502,690 518,000 533,000 546,000 559,000 573,000 Finance 1,114,284 1,281,043 1,309,702 1,403,994 1,452,000 1,501,000 1,545,000 1,590,000 1,635,000 Workers Comp/General Liability 1,135,659 1,241,404 1,467,349 1,705,666 1,738,000 1,772,000 1,806,000 1,842,000 1,878,000 Non-Department 260,000 260,000 260,000 260,000 102,000 105,000 108,000 111,000 114,000 Transfers Out (Debt Service Obligations) 423,542 822,559 799,212 798,457 808,000 820,000 832,000 845,000 853,000 15,403,936 17,054,753 18,100,181 19,367,717 19,954,000 20,597,000 21,161,000 21,728,000 22,308,000 Net Annual Activity
Ongoing Operations $2,991,776 $2,306,041 $331,706 $468,106 $403,000 $208,000 $132,000 $77,000 $34,000 One-Time Revenues 1,431,000 169,461 - - - - - - - One-Time Expenditures (2,652,580) (1,644,194) (229,250) (78,000) - - - - - Transfer from Reserve (Local Assistance) 2,500,000
CalHFA Loan Balance (3,750,000) (1,600,000)
Reserve per Council Policy (2,931,771) (313,847)
Ending Available Balance $977,254 $1,808,562 $1,911,018 $1,987,277 $1,140,277 ($251,723) ($119,723) ($42,723) ($8,723) Operating Reserve:
Beginning Balance $4,209,129 $4,222,158 $4,326,140 $4,436,140 $4,862,987 $4,964,987 $5,068,987 $5,174,987 $5,283,987 Current Year Contribution 313,847 - - - - -
Interest Earned 13,029 103,982 110,000 113,000 102,000 104,000 106,000 109,000 111,000 Ending Balance $4,222,158 $4,326,140 $4,436,140 $4,862,987 $4,964,987 $5,068,987 $5,174,987 $5,283,987 $5,394,987 % of Projected Operating Expenditures 27% 25% 25% 25% 25% 25% 24% 24% 24% The five-year financial forecast involves projecting revenues, expenses, and key factors that have a financial impact on the organization. Understanding long-term trends and potential risk factors that may impact overall financial sustainability allows the finance officer to proactively address these issues. Going through a long-term financial planning process allows decision makers to focus on long-term objectives, encourages strategic thinking, and promotes overall awareness for financial literacy in an organization. Long-term financial planning creates commitment and motivation to provide a guide for decision-making.
GENERAL FUND CITY OF HERCULES FY 2024-25 ANNUAL BUDGET