General Fund Revenues Expenditures Surplus/(Deficit)
Adopted Budget $86,669,227 $85,275,151 $1,394,076
Adjusted Budget 86,931,574 86,635,509 296,065
Mid-Year Projection $88,509,646 $86,531,916 $1,977,730
Mid-Year Variance
FY 2021-2022 Adjusted Pro jected (Under)/Over
General Fund Revenues Actual Budget (a) Year End Budget (b) % Key Revenues
Property Tax $38,703,862 $40,738,780 $40,890,610 $151,830 0.4% Sales & Use Tax 10,473,355 10,000,000 10,500,000 500,000 5.0% Transient Occupancy Tax 5, 581,612 5,350,000 5, 950,000 600,000 11.2% Business License Tax 5,175, 626 3,950,000 4,500,000 550,000 13.9% Building Permits 1,910,538 1,650,000 1,650,000 - 0.0%
Service Charges 6,279,213 5,905,225 6,120,375 215,150 3.6% Building Plan Check Fees 2,111, 264 2,000,000 1,800,000 (200,000) -10.0% Real Estate Transfer Tax 1, 333,170 1,025,000 800,000 (225,000) -22.0% Subtotal Key Revenues $71,568,639 $70,619,005 $72,210,985 $1,591,980 2.3% Other Revenues by Category
Other Taxes & Assessments $1, 727,527 $1,628,262 $1, 770,000 $141,738 8.7% Revenue from Permits 2,174, 503 2,007,028 2,162,178 155,150 7.7% Fines 2,358,730 2,207, 000 2,622,000 415,000 18.8%
Interest Earnings 559, 145 675,000 825,000 150,000 22.2% Use of Property & Money 1 ,307,056 3,450,650 3, 501,434 50,784 1.5% Other Governments (c) 4,801,638 899,505 476,025 (423,480) -47.1% Operating Service Transfers 3,738,160 3,817,624 3, 817,624 - 0.0% Miscellaneous 1,299,410 1, 627,500 1,124,400 (503,100) -30.9% Subtotal Other Revenues $17,966,169 $16,312,569 $16,298,661 ($13,908) -0.1% Total GF Revenues $89,534,808 $86,931,574 $88,509,646 $1,578,072 1.8% 2 3 5
TABLE #2
General Fund Summary
City of Manhattan Beach
Fiscal Year 2022-2023 Mid-Year Projections
TABLE #1
(a) Adjusted Budget includes City Council-approved amendments during the current year as well as anticipated grant reimbursements carried forward from the prior year.
(b) For revenues, a positive variance indicates above budget; a negative variance indicates below budget. (c) The amount in this category includes installments of American Rescue Plan Act funds totaling $4.2 million in both FY 2020- 2021 and FY 2021-2022.
General Fund Summary
City of Manhattan Beach
Fiscal Year 2022-2023 Mid-Year Projections
Mid-Year Variance
FY 2021-2022 Adjusted Pro jected Under /(Over)
General Fund Expenditures Actual Budget (a) Year End Budget (b) % Salaries & Wages $35,519, 732 $37,361,297 $36,842,397 $518,900 1.4% Employee Benefits 13,587,402 13,941,878 13,374,094 $567,784 4.1% Contract & Professional Services 11,881,451 13,054,919 14,083, 856 ($1,028,937) -7.9% Materials & Services 2,281, 533 5,057,163 4,928,500 $128,663 2.5% Utilities 1,057,144 1,086,804 1,172,139 ($85,335) -7.9% Internal Service Charges 8, 312,202 9,984,483 10,171,813 ($187,330) -1.9% Property & Equipment 159,576 500,295 310,448 $189,847 37.9% Bond Debt 5,646,582 5,635, 535 5,635,535 - 0.0%
Transfers Out 14,109 13,134 13,134 - 0.0%
Total GF Expenditures $78,459,731 $86,635,509 $86,531,916 $103,593 0.1% (b) For expenditures, a positive variance indicates under budget; a negative variance indicates over budget.
General Fund Revenue & Expenditure Summary
Total Projected Revenues $88,509,646
Total Projected Expenditures 86,531,916
Projected Surplus/(Deficit) $1,977,730
Proposed Budget Adjustments:
Police Staffing Adjustments 373,722
Downtown Tree Grates 200,000
Long-term Outdoor Dining 150,000
Revised Projected Surplus/(Deficit) $1,254,008
Note: At the end of FY 2022-2023, the projected surplus will revert to unreserved fund balance, which will be drawn down by budgeted transfers to other funds (Stormwater Fund, Street Lighting Fund, etc.). (a) Adjusted Budget includes City Council-approved amendments during the current year as well as encumbrances carried forward from the prior year.
TABLE #3
TABLE #4