“Note: This PowerPoint presentation is intended solely as a visual aid to an oral staff presentation of an agenda report topic. In the event of any differences between the presentation and the agenda report, the information in the agenda report prevails.” FISCAL YEAR 2023-2024 BUDGET
PUBLIC HEARING, ADOPTION &
GANN APPROPRIATION LIMIT
JUNE 6, 2023
2CITY OF
MANHATTAN BEACH
“Note: This PowerPoint presentation is intended solely as a visual aid to an oral staff presentation of an agenda report topic. In the event of any differences between the presentation and the agenda report, the information in the agenda report prevails.” Tonight serves as the Public Hearing for the
Fiscal Year (FY) 2023-2024 Operating Budget
º Proposed Operating Budget Overview
º Changes to the Proposed Operating Budget
Exhibit “A”
º Resolutions for Adoption
FY 2023-2024 Operating Budget
Gann Appropriation Limit
JUNE 6, 2023
FISCUAL YEAR 2023-2024 BUDGET PUBLIC HEARTING & ADOPTION 3CITY OF
MANHATTAN BEACH
“Note: This PowerPoint presentation is intended solely as a visual aid to an oral staff presentation of an agenda report topic. In the event of any differences between the presentation and the agenda report, the information in the agenda report prevails.” • Spending plan supports City Council’s priorities of public safety and maintaining essential services
• Revenues are stable and growing in key areas
º Balanced Budget with surplus of $475,017
• City’s AAA credit rating re-affirmed by S&P in 2021
• Overall financial position allows re-investment in service levels, maintenance and infrastructure corresponding with:
º Community Priorities
º City Council Work Plan
• Pending FEMA reimbursement submittals total $819,000
º Approximately $81,000 received
FISCAL OUTLOOK
JUNE 6, 2023
FISCUAL YEAR 2023-2024 BUDGET PUBLIC HEARTING & ADOPTION 4CITY OF
MANHATTAN BEACH
“Note: This PowerPoint presentation is intended solely as a visual aid to an oral staff presentation of an agenda report topic. In the event of any differences between the presentation and the agenda report, the information in the agenda report prevails.” • Proposed Budget includes full impacts of public safety positions added in current year:
º Eight Sworn Positions
Seven in Police and One in Fire
º Five Civilian Positions
Three in Police and Two in Fire
• Service Delivery Investments across all funds total
$523,242:
º Two new full-time positions totaling $215,207
º Added part-time positions totaling $258,044
º Other staffing adjustments totaling $49,991
BUDGET OVERVIEW
JUNE 6, 2023
FISCUAL YEAR 2023-2024 BUDGET PUBLIC HEARTING & ADOPTION 5CITY OF
MANHATTAN BEACH
“Note: This PowerPoint presentation is intended solely as a visual aid to an oral staff presentation of an agenda report topic. In the event of any differences between the presentation and the agenda report, the information in the agenda report prevails.” • Resolution No. 23-0067 adopts the budget as
presented in the Proposed Budget with modifications as
identified in Exhibit “A”:
FY 2023-2024 BUDGET ADOPTION
JUNE 6, 2023
FISCUAL YEAR 2023-2024 BUDGET PUBLIC HEARTING & ADOPTION Add Reimbursable Coordinated Integrated Monitoring
Program (CIMP) administrative fees ( Stormwater Fund)
$48,567
Add one -year lease for an additional portable live -view surveillance trailer (Police Safety Grants Fund)
$27,000
Add monthly print advertising for Older Adults
programming and services (General Fund)
$10,000
6CITY OF
MANHATTAN BEACH
“Note: This PowerPoint presentation is intended solely as a visual aid to an oral staff presentation of an agenda report topic. In the event of any differences between the presentation and the agenda report, the information in the agenda report prevails.” FY 2023-2024 BUDGET ADOPTION
JUNE 6, 2023
FISCUAL YEAR 2023-2024 BUDGET PUBLIC HEARTING & ADOPTION Projected General Fund Reserve Ending Balances in FY 2023-2024 20% of Expenditures Policy $ 18.6 million
Economic Uncertainty $ 4.0 million
Unreserved Fund Balance $ 4.0 million
General Fund Balance impacted by transfers out to other funds:
Transfers to support operations and one-time projects:
• CIP Fund - $1.0 million for Senior and Scout Community Center • Stormwater Fund - $2.7 million
• Street Lighting & Landscape Fund - $293,478
Recommended Transfers per UAL Pension Policy:
• CIP Fund - $994,920
• Pension Stabilization Fund - $492,380 (Reduced for SSCC) Pension Stabilization Fund Estimated Ending Balance in FY 2023-2024: $3.2 million 7CITY OF
MANHATTAN BEACH
“Note: This PowerPoint presentation is intended solely as a visual aid to an oral staff presentation of an agenda report topic. In the event of any differences between the presentation and the agenda report, the information in the agenda report prevails.” • General Fund has strong revenues and balanced
budget:
º Surplus of $475,017
º Essential services maintained
• Investments aligned with City Council Work Plan:
º Consultant to develop comprehensive, long-term outdoor dining & business use program
º Historic Preservation Resource Survey
º Comprehensive Parking Management Study
º Redesign and repurpose slab fountain in the Metlox Plaza FY 2023-2024 BUDGET ADOPTION
JUNE 6, 2023
FISCUAL YEAR 2023-2024 BUDGET PUBLIC HEARTING & ADOPTION 8CITY OF
MANHATTAN BEACH
“Note: This PowerPoint presentation is intended solely as a visual aid to an oral staff presentation of an agenda report topic. In the event of any differences between the presentation and the agenda report, the information in the agenda report prevails.” • Staff recommends that the City Council:
º Conduct a Public Hearing
º Adopt Resolution No. 23-0067 adopting the FY
2023-2024 Operating Budget and authorizing
the City Manager to take certain personnel-
related actions as identified in the Resolution
º Adopt Resolution No. 23-0068 establishing the
Gann appropriation limit for FY 2023-2024
Remaining appropriation capacity: $26,322,110
Available capacity as a percent of the limit: 26%
RECOMMENDATION
JUNE 6, 2023
FISCUAL YEAR 2023-2024 BUDGET PUBLIC HEARTING & ADOPTION 9CITY OF
MANHATTAN BEACH
“Note: This PowerPoint presentation is intended solely as a visual aid to an oral staff presentation of an agenda report topic. In the event of any differences between the presentation and the agenda report, the information in the agenda report prevails.”
QUESTIONS
JUNE 6, 2023
FISCUAL YEAR 2023-2024 BUDGET PUBLIC HEARTING & ADOPTION