FIVE YEAR FORECAST
REVISED WITH FY 2022-2023
YEAR-END PROJECTIONS
GENERAL FUND
_ y
FY 2018-2019 FY 2019-2020 FY 2020-2021 FY 2021-2022 FY 2022-2023 FY 2023-2024 FY 2024-2025 FY 2025-2026 FY 2026-2027 GENERAL FUND Actual Actual Actual Actual Projection Forecast Forecast Forecast Forecast BEGINNING FUND BALANCE 24,614,168 25,378,484 25,167,211 30,693,696 38,150,421 31,928,997 30,300,566 28,237,568 26,242,063 100 TRUE TRUE TRUE
Revenues
Core Revenues 75,101,678 72,069,886 72,971,392 86,782,277 88,258,333 91,992,047 94,720,441 97,591,305 100,556,541 Non-core Revenues (One-time & Grants)¹ 2,469,974 1,130,958 90,117,898 2,952,594 251,313 - - - - Total Revenues & Other Inflows (A) $77,571,653 $73,200,844 $163,089,289 $89,734,871 $88,509,646 $91,992,047 $94,720,441 $97,591,305 $100,556,541 - - - - - - - -
Expenditures
Core Expenditures2
71,705,496 72,681,676 71,016,720 78,307,655 86,221,468 89,355,348 91,978,625 94,379,226 97,261,451 Non-core Expenditures (One-time & Capital)3
2,521,419 276,909 85,592,473 152,076 310,448 - - - - Total Expenditures & Other Outflows (B) 74,226,915 72,958,584 156,609,193 78,459,731 86,531,916 89,355,348 91,978,625 94,379,226 97,261,451 Annual Structural (Core) Surplus/(Deficit) 3,396,182 (611,790) 1,954,671 8,474,622 2,036,865 2,636,698 2,741,816 3,212,079 3,295,090 Annual Surplus/(Deficit) Before Transfers 3,344,738 242,260 6,480,097 11,275,140 1,977,730 2,636,698 2,741,816 3,212,079 3,295,090 Fund Equity Transfers Total4
(C) (2,580,422) (453,533) (953,611) (3,818,416) (8,199,154) (4,265,129) (4,804,814) (5,207,584) (5,981,847) Street Lighting & Landscape Fund O (144,634) (169,012) (325,242) (99,760) (256,970) (259,488) (265,814) (272,328) (279,036) Prop A Fund (15,480) - - - - - - - -
CIP Fund (Pension Liability Policy) O - - - (492,596) (1,596,585) (994,920) (1,194,471) (1,298,757) (1,391,131) CIP Fund (One-time) (560,100) - - (175,000) (4,000,000) - - - - Stormwater Fund O (1,273,783) (298,337) (1,317,480) (2,183,688) (1,589,830) (1,896,364) (1,926,267) (2,057,059) (2,588,788) Parking Fund - - 71,020 - - - - - -
County Parking Lots Fund O 263,873 263,816 489,165 532,628 382,271 378,023 373,444 368,696 363,803 Information Technology Fund O (600,299) - - - - - - - - Refuse Fund (Closeout) O - - 378,926 - - - - - - Fire Station 2 Construction Fund - - - (1,400,000) - - - - - PARS Trust Fund (Pension Liability Policy) O (250,000) (250,000) (250,000) - (1,138,040) (1,492,380) (1,791,707) (1,948,136) (2,086,696) Annual
Incr./(Decr.) in Fund Balance (=A-B+C) 764,316 (211,273) 5,526,486 7,456,724 (6,221,424) (1,628,431) (2,062,998) (1,995,505) (2,686,757) ENDING FUND BALANCE $25,378,484 $25,167,211 $30,693,696 $38,150,421 $31,928,997 $30,300,566 $28,237,568 $26,242,063 $23,555,306 Financial Policy Designation 14,937,974$ 15,004,887$ 14,624,838$ 15,539,658$ 17,306,383$ 17,871,070$ 18,395,725$ 18,875,845$ 19,452,290$ Reserve for Economic Uncertainty 4,000,000$ 4,000,000$ 4,000,000$ 4,000,000$ 4,000,000$ 4,000,000$ 4,000,000$ 4,000,000$ 4,000,000$ Unreserved Fund Balance 6,440,510$ 6,162,324$ 12,068,858$ 18,610,763$ 10,622,614$ 8,429,496$ 5,841,843$ 3,366,218$ 103,016$ gy y 1 Includes loan repayment from prior Assistant City Manager in FY 2018-2019, Pension Obligation Bond proceeds in FY 2020-2021, and American Rescue Plan Act (ARPA) Funds in FY 2020-2021 and 2021-2022. 2 FY 2020-2021 includes repayment of CalPERS Unfunded Actuarial Liabilities (UAL) after issuance of Pension Obligation Bonds. 3 FY 2018-2019 includes one-time expenditures for Public Safety and Public Works radios ($1,189,793), Permitting Software Solution ($380,240) and $1.0 million payment to MBUSD (first budgeted in FY 2017-18). 5 Unreserved Fund Balance includes Reserve for Encumbrances and ARPA funds received in FY 2020-2021 and 2021-2022. 4 Fund Equity Transfers include reallocation of savings resulting from Pension Obligation Bonds. In FY 2023, the approved allocation is 80% to the CIP Fund and 20% to the Pension Stabilization Trust Fund. In subsequent years, the allocation returns to the baseline of 40% to the CIP Fund and 60% to the Pension Stabilization Trust Fund .
Includes Police Staffing (7 Sworn Officers and 3 Civilian) Approved by City Council on February 7, 2023 Includes Fire Staffing Approved by City Council on October 18, 2022 Includes Proposed Measure A TOT Increase to 14% Effective July 1, 2023