City of Huntington Beach
FY 2023/24 Budget Adoption
City Council Public Hearing
June 6, 2023
1 Presentation Overview
• Proposed FY 2023/24 General Fund Budget Review
• Proposed FY 2023/24 Capital Improvement Budget
• FY 2023/24 Budget Approval
• Budget Balancing Plan
2 Proposed FY 2023/24
General Fund Budget Review
3 FY 2023/24 General Fund Proposed Budget Review
• Proposed FY 2023/24 General Fund Budget is structurally balanced, with a projected $1.7M surplus after including the impacts of the approved POA MOU and parking revenues
4 * GF portion of Emerald Cove settlement, of
which 50% is being transferred to the Section
115 Trust and 50% is being transferred to the
General Liabilities Fund
** Includes Debt Service, Capital Expenditures,
and Transfers
• Continued Infrastructure Investments in FY2023/24
General Fund transfer to the Infrastructure Fund increased by 11% to $15.0M CIP budget totals $41.2M (decrease from prior year due to $12.9M of HB Recovery projects and a $6.6M grant for Heil Pump Station in FY 2022/23) General Fund (Fund 100)
(in thousands)
Proposed
FY 23/24
Revenues (recurring) $280,790
Revenues (one‐time) *2 , 2 7 6
Planned Use of Reserves (one‐time) 8,804
Total Revenues 291,870
Personnel Costs 186,231
Operating Costs 55,315
Non‐Operating Costs ** 48,664
Total Expenditures 290,210
Surplus / (Deficit) $1,660
FY 2023/24 General Fund Proposed Revenues - $283.1M
5General Fund recurring revenues anticipated to increase by $7.5 million from FY 2022/23 Property Tax
36.8%
Sales Tax
18.9%Franchises
4.2%
Transient Occupancy Tax
5.9%
Utility Users Tax
7.5%
License & Permits
3.2%
Fines & Forfeitures
1.8%
Use of Money & Property
7.7%
Revenue from Other Agencies
1.0%
Charges for Current Services
11.6%
Other Revenue
0.6%
Non‐Operating Revenue
1.0%
FY 2023/24 General Fund Proposed Expenditures - $290.2M * Transfers include Infrastructure, Equipment, General Liability & Section 115 Trust Transfers
** Other includes City Council, City Clerk, and
City Treasurer
6 Personnel
64.2%
Operating
19.0%
Debt Service
2.1%
Transfers *
14.7%
BY CATEGORY
City Attorney
1.3%
City Manager
1.4% Finance
1.9%
Fire
19.5%
Human Resources
0.9%
Information
Services
2.8%Other **
1.2%
Community &
Library Services
5.5%
Non‐Departmental
22.6%
Community
Development
3.8%
Police
30.7%
Public Works
8.3%
BY DEPARTMENT
Recommended FY 2023/24 Authorized Positions
• Staff is proposing 11 new General Fund positions in the FY 2023/24 Budget:
City Attorney’s Office
‒ (1) Deputy Community Prosecutor to support increased caseload ($162K) ‒ (2) Senior Deputy City Attorneys (Advisory and Litigation) to assist with increased caseload and demand for services ($408K)
‒ (1) Senior Legal Assistant to provide additional support for the City Attorney’s Office ($117K) City Clerk Department
‒ (1) Municipal Records Manager to facilitate centralization of record keeping, including oversight of the Records Division within the City Clerk’s Office ($149K) 7 Recommended FY 2023/24 Authorized Positions
• Staff is proposing 11 new General Fund positions in the FY 2023/24 Budget:
City Manager Department
‒ (1) Graphic Designer to assist with citywide public information materials in the Office of Communications and the City’s Cable “3” Channel ($94K) ‒ (1) Multi-Media Officer to oversee operations of the City’s Cable “3” Channel, YouTube Channel, livestreaming, and all digital content ($175K) ‒ Adding the two positions and bringing a portion of the contracted services in-house results in a cost increase of $43,870, while allowing for a more nimble and responsive Office that is more capable of meeting the City’s goals of keeping our community informed. 8 .
FY 2022/23 FY 2023/24 FY 2023/24
($100K ‐ Expanded SOW
including the Mayor's Initiatives)
Prof Contract Services ‐ PIO $85,000 $101,750 $201,750
Prof Contract Services ‐ HBTV 370,000 128,250 128,250
Personnel Cost ‐ Graphic Designer 93,805 93,805
Personnel Cost ‐ Multi‐Media Officer 175,065 175,065
Total $455,000 $498,870 $598,870
Recommended FY 2023/24 Authorized Positions
• Staff is proposing 11 new General Fund positions in the FY 2023/24 Budget:
Community Development Department
‒ (2) Combination Inspectors ($231K) to mitigate backlog, provide more timely inspections, and bring part of contracted consulting work in-house, resulting in annual savings of $132,978
‒ (1) Plan Check Engineer ($158K) to meet demand for plan check services and bring part of contracted consulting work in-house, resulting in annual savings of $79,424 ‒ Requested positions will minimize reliance on consultants to meet base level demand for services, while saving a total of $212,402 annually
‒ Consultants will still be utilized to meet requests for services above base levels and maintain service levels during cyclical peaks
Human Resources
‒ (1) Human Resources Analyst in the Risk Management Division to support increased workload, mitigate risk and ensure compliance with regulatory requirements ($118K) 9 General Fund Reserve Policy
10 • The City desires to maintain a prudent level of reserves based on the revenue impacts described above and the City's desire to maintain strong bond ratings to minimize borrowing costs.
• The Government Finance Officers Association (GFOA) recommends a minimum of two months of operating expenditures be set aside for unforeseen events. • Staff is recommending consolidating certain General Fund Assignments into the Economic Uncertainties Reserve in order to meet the two‐month reserve requirement.
General Fund Reserve Policy (continued)
11 • Additional adjustments to the General Fund Reserve Policy are listed as follows:
• A minimum of 25% of unrestricted one‐time revenues to be transferred to the Section 115 Trust. • Additionally, staff is recommending strengthening the City’s Reserve policy to ensure that funds are set aside systematically and used only when truly necessary and approved by a 6/7th vote of City Council. • If Economic Uncertainties Funds are utilized and the level falls below the two‐month reserve requirement, the Chief Financial Officer will bring forward a proposed plan to City Council to replenish the fund within three fiscal years.
• Cities with robust fiscal reserve policies are more likely to receive improved bond ratings based on higher scores related to financial management policies and improved fund balance reserves.
FY 2023/2024
Capital Improvement
Program (CIP)
FY 2023/24 CIP BUDGET
• CIP Budget Totals $41.2 M ($25M 3 years ago)
• Drainage $1.8M
• Facilities $4.0M
• Neighborhood $7.4M
• Parks and Beaches $2.9M
• Sewer $8.3M
• Streets and Transportation $11.8M
• Water $5.0M
• Residential Paving Cycle (9-year vs. 12-year)
• To achieve a balanced budget staff reviewed the cost/benefit of the two cycles • Staff recommends a 12-year cycle for the following reasons:
• 9-year cycle costs an additional $2.5 million annually, or $22.5M (current pricing) over the 9 years
• Over 7 years the Pavement Classification Index (PCI) would only increase by 1 point (83.4 to 84.4), and both scores are in the “good” condition rating 13 CIP AES Funding Summary
14 Project Name Project Description
Included in
FY 2023/24
Budget
AES Complete Streets
Improvements
• Banning landscape medians, bike lanes, sidewalk ($1M) • Potential enhancement to existing bike Lanes on Newland Magnolia, and Bushard
• 4 radar feedback signs (Locations TBD)
• Landscaped medians on Magnolia and Hamilton (Locations TBD) 2,560,000
AES Seely Park Playground
Improvements New playground equipment 350,000
AES Eader Park Improvements Resurface pavement at Eader Park parking lot 100,000 AES Banning Branch Library
Master Plan
Year 1 of a multi‐year project to evaluate, with community input, options for a new 12,000 sq. ft. branch library, small park and parking on the existing site. 335,000 AES Edison Park Reconfiguration
The project includes the reconfiguration of Edison Park to include relocation of tot lots, walkways, dual use tennis and pickle ball courts, other recreation amenities, as well as parking & hardscape improvements to mitigate settlement issues.
1,200,000
Contingency Funds 355,000
Total 4,900,000
AES Projects Map
15 Budget Balancing Plan
16 Budget Balancing Plan
17 • At the June 6th City Council meeting, City staff were directed to provide a budget balancing plan to proactively address the FY 2024/25 General Fund projected deficit.
• Departments submitted potential revenue opportunities and expenditure reductions totaling $7,179,520 for Council review; broken into two phases:
• Level One: Effective July 1, 2023. The process to implement increased revenue options would begin at the start of Fiscal Year 2023/24. Approved budget reductions would be included in the Fiscal Year 2023/24 Adopted Budget.
• Level Two: Effective January 1, 2024. Due to the level of effort and service level impacts for these budget reductions, items approved for elimination by City Council in this category may take an estimated six months to implement.
Level 1 Options – Effective July 1, 2023
18 • Includes revenue enhancements and expenditure reductions that can be more immediately executed
REVENUE OPPORTUNITIES
No. Revenue Generating Service Type Dept Amount
1 Update the Master Fee and Charges Schedule Ongoing All 198,000 2E v a l u a t e Emergency Medical Service (EMS) Fees Ongoing Fire 936,254 3 Lifeguard Tower Advertisements Ongoing Fire 356,441
4 Police Fines and Fees Ongoing Police 60,000
5L P R (License Plate Readers) Citation Revenue Ongoing Comm & Lib
Svcs 102,600
1,653,295
Level 1 Options – Effective July 1, 2023
19 • Includes revenue enhancements and expenditure reductions that can be more immediately executed
BUDGET REDUCTIONS
No. Cost Reductions Type Dept Amount
1 Partial reprogramming of one‐time revenues from Emerald Cove loan repayment One‐time Citywide 1,138,297
2 Employee Work Enhancements Ongoing Citywide 712,000
3 Circuit Ongoing Citywide 350,000
4 Eliminate City Clerk Remodel CIP One ‐time City Clerk 100,000 5 Reclassify Director of Homeless & Behavioral Health position to Manager Ongoing City Mgr 57,519
6E m p l o y e e Medical Exams Ongoing HR 35,000
7 Eliminate funding for MySidewalk dashboard program Ongoing Info Svcs 80,000 8 Eliminate IS Service Van One ‐time Info Svcs 60,000 9 Reduce Equipment Replacement One ‐time Info Svcs 300,000 Level 1 Options – Effective July 1, 2023
20 • Includes revenue enhancements and expenditure reductions that can be more immediately executed
BUDGET REDUCTIONS
No. Cost Reductions Type Dept Amount
10 Terminate Ice Rink Contract
(if single sponsor does not materialize by date) Ongoing Comm & Lib
Svcs 157,594
11 Aquatics Summer Swim Lesson Expansion Ongoing
Comm & Lib
Svcs 138,950
12 Eliminate a portion of the temporary salaries budget in the Housing and Permit Center Divisions and shift restricted fund grant work to the Senior Management Analyst Ongoing Comm Dev 203,739 13 Code Enforcement Replacement Vehicles ‐ downgrade three vehicle replacement upgrades from trucks to sedans
One‐time/
Ongoing Comm Dev 60,000
3,393,099
Level 2 Options – Effective January 1, 2024
21 • Includes expenditure reductions that can be executed beginning January 1, 2024
BUDGET REDUCTIONS
No. Cost Reductions Type Dept Amount
1 Eliminate Temporar y Dept Asst II Ongoing City Clerk 23,050 2 Reclassify Multimedia Officer to Multimedia Coordinator Ongoing City Mgr 31,091 3 Reduce Professional/Contract Services by eliminating contingency and reducing SOW (CMO) Ongoing City Mgr 30,000
4P r i n c i p a l Finance Analyst (Budget) ‐ Defund (1) Ongoing Finance 143,253 5C a l l Center Part‐time Staff Ongoing Finance 35,000 6 Reduce various Public Works contract and maintenance budgets. Ongoing Public Works 46,700 7R e v i s e tree trimming from 6‐year to 7‐year cycle Ongoing Public Works 100,000 8 Reduce contract and weekly landscape service for Facilities to 2x per month. Ongoing Public Works 123,882
9G a t e Arm Efficiency Savings ‐ Temp Salaries Ongoing Comm & Lib
Svcs 42,000
10 Eliminate Citywide Security Services Ongoing
Comm & Lib
Svcs 147,692
Level 2 Options – Effective January 1, 2024
22 • Includes expenditure reductions that can be executed beginning January 1, 2024
BUDGET REDUCTIONS
No. Cost Reductions Type Dept Amount
11 Eliminate Park Ranger Services Ongoing
Comm & Lib
Svcs 78,075
12 Senior Center ‐ Saturday Closure Ongoing
Comm & Lib
Svcs 14,450
13 Edison/Murdy ‐5 hr less/week Ongoing
Comm & Lib
Svcs 17,000
14 Closure ‐ Central Library (Sundays) Ongoing
Comm & Lib
Svcs 150,000
15 Reduction in Open Hours ‐ Central Library
(reduce Monday by 2 hrs; Tuesday‐Thursday by 3 hrs = 11 hrs/week) Ongoing Comm & Lib
Svcs 83,071
16 Community Café Community Forum
(costs for consultants, food and supplies only; continuation of event with sponsors, donations, and in‐kind) Ongoing
Comm & Lib
Svcs 35,000
17 Reduce Temporar y Salaries, Overtime, Equipment budget in Inspection Services and Administration Ongoing Comm Dev 123,295 Level 2 Options – Effective January 1, 2024
23 • Includes expenditure reductions that can be executed beginning January 1, 2024
BUDGET REDUCTIONS
No. Cost Reductions Type Dept Amount
18 Accounting Technician (Accounts Payable) ‐ Defund (1) Ongoing Finance 94,998 19 Reduce beach restroom cleaning intervals during non‐peak season months Ongoing Public Works 100,000
20 Reduce contract sign & lighting maintenance services and related equipment funding Ongoing Public Works 62,000
21 Eliminate City funded downtown power washing and porter service and transfer costs to the Downtown BID Ongoing Public Works 154,000 22 Reduce contract and weekly landscape service to Pier Plaza, Bluff Top, & Sunset landscape 2x per month Ongoing Public Works 69,000 23 Defund 1 Care Manager Ongoing
Comm & Lib
Svcs 24,550
24 Closure ‐ Banning Branch Ongoing
Comm & Lib
Svcs 63,543
25 Closure ‐ Main Street Branch Ongoing
Comm & Lib
Svcs 66,883
Level 2 Options – Effective January 1, 2024
24 • Includes expenditure reductions that can be executed beginning January 1, 2024
BUDGET REDUCTIONS
No. Cost Reductions Type Dept Amount
26 Closure ‐ Helen Murphy Branch Ongoing
Comm & Lib
Svcs 36,140
27 Code Enforcement Technician ‐ Defund (1) Ongoing Comm Dev 85,933 28 Economic Development Project Manager ‐ Defund (1) Ongoing Comm Dev 152,520 2,133,126
Summary of Budget Balancing Plan
25 Summary Proposed
Revenue Opportunities 1,653,295
Expenditure Reductions (One‐Time) 1,643,297
Expenditure Reductions (Ongoing) 3,882,928
7,179,520
Reductions and Revenue Opportunities by Dept Proposed
City Manager 118,610
City Attorney ‐
City Clerk 123,050
Community & Library Services 1,157,548
Finance 273,251
Fire 1,292,695
Human Resources 35,000
Information Services 440,000
Community Development 625,487
Police 60,000
Public Works 655,582
City Treasurer ‐
Citywide 2,398,297
7,179,520
General Fund Long-Term Financial Plan
5.5% CalPERS Return FY22/23
26 • Requires use of Section 115 Trust reserves starting in FY 2024/25. Projected future revenue amounts exclude one‐time revenues totaling approximately $25M expected to be received from the Department of Finance. (in thousands) Actual
FY21/22
Projected
FY22/23
Projected
FY23/24
Projected
FY24/25*
Projected
FY25/26*
Projected
FY26/27*
Revenue (Recurring) $256,246 $273,293 $280,790 $285,527 $291,724 $298,818 Revenue (One‐Time) / Use of Reserves ‐ 29,607 11,080 ‐‐‐ Total Sources of Funds 256,246 302,900 291,870 285,527 291,724 298,818 Expenditures less UAL 234,277 251,031 265,012 265,363 269,122 272,018 CalPERS UAL 4,891 4,891 5,000 5,000 8,540 12,990
POB Payment 13688 13,556 13,276 13,010 12,750 12,537
One‐Time Expenditures ‐ 18,721 2,276 ‐‐‐
POA MOU ‐ ‐ 4,646 7,593 10,559 11,979
Unidentified Expenditures ‐‐ 1,500 2,000 2,500 3,000
Total Expenditures 252,856 288,199 291,710 292,966 303,471 312,524 HB Recovery Reserves ‐ (10,886) ‐‐‐‐
Surplus/(Deficit) $3,390 $3,815 $160 ($7,439) ($11,747) ($13,706) General Fund Long-Term Financial Plan
5.5% CalPERS Return FY22/23 – w/ Budget Balancing Plan
27 • Requires use of Section 115 Trust reserves starting in FY 2024/25. Projected future revenue amounts exclude one‐time revenues totaling approximately $25M expected to be received from the Department of Finance. (in thousands) Actual
FY21/22
Projected
FY22/23
Projected
FY23/24
Projected
FY24/25*
Projected
FY25/26*
Projected
FY26/27*
Revenue (Recurring) $256,246 $273,293 $280,790 $285,527 $291,724 $298,818 Revenue (One‐Time) / Use of Reserves ‐ 29,607 11,080 ‐‐‐ Total Sources of Funds 256,246 302,900 291,870 285,527 291,724 298,818 Expenditures less UAL 234,277 251,031 265,012 265,363 269,122 272,018 CalPERS UAL 4,891 4,891 5,000 5,000 8,540 12,990
POB Payment 13688 13,556 13,276 13,010 12,750 12,537
One‐Time Expenditures ‐ 18,721 2,276 ‐‐‐
POA MOU ‐ ‐ 4,646 7,593 10,559 11,979
Unidentified Expenditures ‐‐ 1,500 2,000 2,500 3,000
Total Expenditures 252,856 288,199 291,710 292,966 303,471 312,524 HB Recovery Reserves ‐ (10,886) ‐‐‐‐
Surplus/(Deficit) $3,390 $3,815 $160 ($7,439) ($11,747) ($13,706) Proposed Budget Balancing Plan ‐‐ 5,286 7,180 7,180 7,180 Surplus/(Deficit), Revised $3,390 $3,815 $5,446 ($259) ($4,567) ($6,526) Boards and Commissions
28 • Implementation of the proposed budget balancing plan will increase the workload on City staff and reduce the time available to complete core work duties. • To ensure that core City functions are maintained, staff is requesting policy direction from Council to reduce the frequency of meetings to every other month for a period of one year for the following Boards and Commissions:
• Harbour Commission
• Finance Commission
• Jet Noise Commission
• Historic Resources Board
• Central Park Collaborative
• Additionally, any Boards and Commissions request for staff efforts beyond four (4) hours, as determined by the primary staff liaison, with concurrence by the department head and City Manager, will require City Council approval.
Boards and Commissions
29 • Approved requests will be completed based on staff capacity and in the following priority order: (1) Day‐to‐day responsibilities and (2) Strategic Plan priorities. • Formalizing this process will require review and updates to Municipal Code Section
2.100, Operating Policy for Boards and Commissions.
• The regular report to the City Council on the Strategic Plan will note changes to implementation of priorities due to work related to City Council‐approved assignments beyond core Boards and Commissions duties.
FY 2023/24 Budget
Approval Requested
30 City Council Approval Requested
31 1) Adopt a budget for Fiscal Year 2023/2024
2) Authorize the Professional Services Listing included in the FY 2023/24 Budget 3) Authorize the appropriation and transfer of the full balance ($4.9 million) of the AES Reserve from the General Fund to the AES Mitigation Fund 1284 4) Authorize the appropriation and transfer of $3,903,803 from the General Fund Equipment Replacement Reserve to the Equipment Replacement Fund 324 5) Revert back to a 12-year paving cycle to achieve a balanced budget 6) Adopt Resolution No. 2023-25 Establishing the Gann Appropriation Limit for Fiscal Year 2023/2024 in the amount of $1,171,687,773
7) Adopt Resolution No. 2023-23 Levying a Retirement Property Tax for Fiscal Year 2023/2024 to Pay for Pre-1978 Employee Retirement Benefits City Council Approval Requested
32 8) Adopt Resolution No. 2023-27 Amending the City’s Classification Plan by Adding the Classifications of Graphic Designer, Multimedia Coordinator, Homeless Services Manager, and Municipal Records Manager 9) Approve the recommended update to the General Fund Reserve Policy and consolidation of certain General Fund assignments to the Economic Uncertainties Reserve
10)Adopt Resolution No. 2023-26 Acknowledging Receipt of a Report Made by the Fire Chief of the Huntington Beach Fire Department Regarding the Inspection of Certain Occupancies Required to Perform Annual Inspections 11)Approve Amendment No. 2 to the professional services contract with Mind OC for the Be Well HB mobile crisis response program
12)Approve the professional services contract with National Council for Community Development (NDC) for technical assistance services City Council Approval Requested
33 13)Approve the professional services contract with Hinderliter, De Llamas and Associates for sales and use tax auditing services
14)Approve the Budget Balancing Plan to proactively address the Fiscal Year 2024/25 Projected General Fund Deficit
15)Approve modifications to the frequency of select Boards and Commissions (“BCCs”) and direct staff to update Municipal Code Section 2.100, “Operating Policy for Boards and Commissions,” to formalize a process for BCC-directed assignments exceeding four (4) hours of staff time Questions?
FY 2023/24 All Funds Proposed Revenues - $502.2M
35 Property Tax
26.9%
Sales Tax
11.5% Franchises
2.3%
Transient Occupancy Tax
3.3%
Utility Users Tax
4.2%
License & Permits
2.4%
Fines & Forfeitures
1.0%
Use of Money &
Property
4.3%
Revenue from
Other Agencies
4.0%
Charges for Current
Services
25.4%Other Revenue
0.5%
Non‐Operating
Revenue
14.2%
BY CATEGORY
FY 2023/24 All Funds Proposed Revenues - $502.2M
36 General Fund
55.8%
Special Revenue Funds
6.0%
Capital Projects Funds
5.2%
Debt Service Funds
6.5%
Enterprise Funds
15.0%
Internal Service Funds
4.8%
Trust & Agency Funds
6.4% Other Funds
0.2%
BY FUND TYPE
FY 2023/24 All Funds Proposed Expenditures - $508.8M
* Transfers include Infrastructure, Equipment, General Liability & Section 115 Trust Transfers
37 Personnel
$209,932,797
41%
Operating
$155,390,819
31%
Capital
Expenditures
$51,468,254
10%
Debt Service
$41,109,511
8%
Transfers *
$50,916,672
10%
BY CATEGORY
General Fund
56.1%
Special Revenue Funds
5.2% Capital Projects Funds
4.5%
Debt Service Funds
5.0%
Enterprise Funds
17.6%
Internal Service Funds
5.9%
Trust & Agency Funds
5.5%
Other Funds
0.2%
BY FUND TYPE
978.25
983.75 986.25 986.25 986.25 987.25
958.25
980.75
991.75
1,002.75
950.00
960.00
970.00
980.00
990.00
1,000.00
1,010.00
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21 FY 21/22 FY 22/23 FY 23/24 FY 2023/24 Full Time Equivalent – All Funds
Pre‐COVID
38 General Fund Long-Term Financial Plan
5.5% CalPERS Return FY22/23
39 (in thousands)
Actual
FY21/22
Projected
FY22/23
Proposed
FY23/24 *
Projected
FY24/25
Projected
FY25/26
Projected
FY26/27
Revenue (Recurring) $256,246 $273,293 $278,120 $286,798 $292,395 $298,247 Revenue (One‐Time) ‐ 29,607 2,276 ‐‐ ‐
Planned Use of Reserves ‐‐ 8,804 ‐‐ ‐
Total Sources of Funds $256,246 $302,900 $289,200 $286,798 $292,395 $298,247 Expenditures less UAL 234,277 251,031 265,012 265,363 269,122 272,018 CalPERS UAL 4,891 4,891 5,000 5,000 8,540 12,990
POB Payment 13,688 13,556 13,276 13,010 12,750 12,537
One‐Time Expenditures ‐ 18,135 2,276 ‐‐ ‐
Total Expenditures 252,856 287,613 285,564 283,373 290,412 297,545 HB Recovery Reserves ‐ (11,472) ‐‐ ‐ ‐
Surplus/(Deficit) $3,390 $3,815 $3,636 $3,425 $1,983 $702 • Proposed FY 23/24 Budget does not include $3.1M in fees and charges adjustments approved by City Council in May 2023.
General Fund Long-Term Financial Plan
5.5% CalPERS Return FY22/23 – POA Proposal
40 (in thousands)
Actual
FY21/22
Projected
FY22/23
Projected
FY23/24 *
Projected
FY24/25 *
Projected
FY25/26 *
Projected
FY26/27 *
Revenue (Recurring) $256,246 $273,293 $280,790 $288,377 $294,574 $301,668 Revenue (One‐Time) ‐ 29,607 2,276 ‐‐ ‐
Planned Use of Reserves ‐‐ 8,804 ‐‐ ‐
Total Sources of Funds $256,246 $302,900 $291,870 $288,377 $294,574 $301,668 Expenditures less UAL 234,277 251,031 265,012 265,363 269,122 272,018 CalPERS UAL 4,891 4,891 5,000 5,000 8,540 12,990
POB Payment 13,688 13,556 13,276 13,010 12,750 12,537
One‐Time Expenditures ‐ 18,721 2,276 ‐‐ ‐
POA Proposal ‐‐ 4,646 7,593 10,559 11,979
Total Expenditures 252,856 288,199 290,210 290,966 300,971 309,524 HB Recovery Reserves ‐ (10,886) ‐‐ ‐ ‐
Surplus/(Deficit) $3,390 $3,815 $1,660 ($2,589) ($6,397) ($7,856) * Projected future revenue amounts exclude one‐time revenues expected to be received from the Department of Finance.
General Fund Long-Term Financial Plan
5.5% CalPERS Return FY22/23 – POA & PMA Proposal
41 (in thousands)
Actual
FY21/22
Projected
FY22/23
Projected
FY23/24 *
Projected
FY24/25 *
Projected
FY25/26 *
Projected
FY26/27 *
Revenue (Recurring) $256,246 $273,293 $280,790 $288,377 $294,574 $301,668 Revenue (One‐Time) ‐ 29,607 2,276 ‐‐ ‐
Planned Use of Reserves ‐‐ 8,804 ‐‐ ‐
Total Sources of Funds $256,246 $302,900 $291,870 $288,377 $294,574 $301,668 Expenditures less UAL 234,277 251,031 265,012 265,363 269,122 272,018 CalPERS UAL 4,891 4,891 5,000 5,000 8,540 12,990
POB Payment 13,688 13,556 13,276 13,010 12,750 12,537
One‐Time Expenditures ‐ 18,721 2,276 ‐‐ ‐
POA & PMA Proposal ‐‐ 5,107 8,345 11,609 13,167
Total Expenditures 252,856 288,199 290,671 291,718 302,021 310,712 HB Recovery Reserves ‐ (10,886) ‐‐ ‐ ‐
Surplus/(Deficit) $3,390 $3,815 $1,199 ($3,341) ($7,447) ($9,044) * Projected future revenue amounts exclude one‐time revenues expected to be received from the Department of Finance.