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CITY OF MANHATTAN BEACH
MID-YEAR BUDGET REPORT
FISCAL YEAR 2025
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1 This Mid-Year Budget Report presents an overview of the City’s operating revenues and expenditures for the first half of Fiscal Year 2025 comparing actual figures to budgeted amounts and explaining any notable deviations or trends in the numbers. The information in this report is organized into two sections: General Fund and Other Funds.
The purpose of the Mid-Year Budget Report is threefold. First, it illustrates the City’s commitment to monitoring its revenues and expenditures, allowing for proactive responses to unforeseen changes or emerging trends. Second, and equally important, it supports fiscal transparency and accountability by providing the City Council and members of the public with detailed information on the sources and uses of City revenue. Lastly, this report serves as a starting point for preparing the Fiscal Year 2026 Budget.
Each January, City staff analyzes fiscal year-to-date activity and prepares mid-year projections for revenues and expenditures to evaluate potential budget variances and forecast year-end results.
This report focuses on those mid-year projections and explains budget variances to provide an accurate representation of the City’s fiscal position. Overall, General Fund Expenditures are trending above budget due to higher projected costs associated with Salaries & Wages, Employee Benefits, and Utilities categories. A driving factor of overages in the two categories are primarily driven by increases in sworn salaries and overtime. Although there are estimated savings in the Contract & Professional Services category, contract encumbrances not fully expended during the year will be carried forward into the next fiscal year.
REPORT HIGHLIGHTS:
• General Fund Revenues In the current fiscal year, General Fund revenues are estimated to exceed the adjusted budget by $1,978,651 (2.0%). Additional General Fund Revenue details are provided beginning on page 2 of this report. To align the budget with projected year-end estimates, staff is recommending three revenue adjustments. • General Fund Expenditures Operating Expenditures are projected to be $1,198,568 (1.2%) over the adjusted budget. The adjusted budget includes City Council-approved amendments from the current year as well as encumbrances carried forward from the previous year. The proposed mid-year budget adjustments are explained in detail starting on page 6 of this report. • Transfers to Other Funds Projected year-end net transfers to other funds, including the Street Lighting Fund, Capital Improvement Program (CIP) Funds and Pension Stabilization Fund, are expected to total approximately $4.1 million.
INTRODUCTION
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2 GENERAL FUND REVENUES
Several key revenues are highlighted in the following table. Generally, the largest contributors to the City’s revenue are Property Tax, Sales & Use Tax, Service Charges and Transient Occupancy Tax.
Table 1
FY 2025 Mid-Year Variance
FY 2024 Adjusted Projected (Under)/Over
Actual Budget Year End Budget %
Key Revenues
Property Tax $43,067,609 $44,688,638 $44,738,402 $49,764 0.1% Sales & Use Tax 11,066,514 11,350,000 11,254,000 (96,000) -0.8% Local Transaction & Use Tax - - 1,200,000 1,200,000 0.0% Transient Occupancy Tax (TOT) 7,655,867 7,415,000 7,475,272 60,272 0.8% Short Term Rental TOT 1,078,738 1,200,000 1,155,129 (44,871) -3.7% Business License Tax 5,422,317 5,200,000 5,503,652 303,652 5.8% Real Estate Transfer Tax 716,788 800,000 800,000 - 0.0% Building Permits 2,512,240 2,100,000 2,100,000 - 0.0%
Parking Citations 1,730,601 2,175,000 2,175,000 - 0.0%
Interest Earnings 1,459,377 1,375,000 1,375,000 - 0.0%
Building Plan Check Fees 1,754,456 1,837,500 2,000,000 162,500 8.8% Subtotal Key Revenues $76,464,506 $78,141,138 $79,776,455 $1,635,317 2.1% Other Revenues by Category
Other Taxes & Assessments $1,950,082 $1,742,610 $1,772,610 $30,000 1.7% Revenue from Permits 1,987,106 1,925,191 1,903,859 (21,332) -1.1% Fines 222,983 226,397 194,767 (31,630) -14.0%
Use of Property & Money 5,276,830 3,772,800 3,740,069 (32,731) -0.9% Other Governments 742,758 712,853 668,165 (44,688) -6.3% Service Charges 8,207,931 7,929,901 8,371,904 442,003 5.6% Operating Service Transfers 3,731,200 4,066,118 4,066,118 - 0.0% Miscellaneous 572,971 933,000 934,712 1,712 0.2%
Subtotal Other Revenues $22,691,861 $21,308,870 $21,652,204 $343,334 1.6% Total GF Revenues $99,156,368 $99,450,008 $101,428,659 $1,978,651 2.0%
GENERAL FUND REVENUES
GENERAL FUND
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3 Table 1 shows a comparison between revenues received in the prior fiscal year and the current Fiscal Year 2025. Actual revenues for Fiscal Year 2025 are projected to be nearly $2.0 million or 2.0% above the current adjusted budget. A significant factor in this increase is the new 0.5% Measure MMB Local Transaction and Use Tax (TUT) approved by voters in November 2024. Additional contributors to the revenue increase include Business License Tax and Fire Reimbursements.
Current revenue trends are highlighted below.
▪ Property Tax – Property Tax is the strong foundation of the City’s General Fund revenues. The City’s Property Tax revenues are projected to total nearly $44.7 million, which is $49,764 (0.1%) above the amount currently budgeted. Factors such as high demand for single-family homes, low inventory, and high home prices over the last few years have all contributed to the increase in taxable property values, despite a lower number of home sales. It is important to note that valuation increases in the current year correlate to sales activity from the prior year(s). ▪ Sales & Use Tax – Sales & Use Tax is projected $96,000 (0.8%) lower than budget, for an approximate total of $11.3 million, due to slightly lower projected local economic activity in general consumer goods. While the overall total has remained relatively stable, there have been fluctuations in various sales tax categories. Categories with reductions include general consumer goods and service stations. Offsetting these reductions is an increase in the amount received from the State and County Pools for online sales. ▪ Local Transaction & Use Tax – With the implementation of the Measure MMB Local Transaction & Use Tax beginning April 1, 2025, the City’s sales tax consultant has estimated an additional $1.2 million in new revenue will be received this fiscal year. The local TUT is expected to generate over $5 million per fiscal year going forward. ▪ Transient Occupancy Tax (TOT) – TOT receipts, which are trending over budget by $60,272 (0.8%), are estimated to bring in about $7.5 million to the General Fund. Additionally, by policy, the City Council allocates 15% of the base 10% tax of the TOT to the CIP Fund, which is expected to total $897,033 for the current fiscal year. ▪ Short-Term Rentals TOT – The General Fund also receives TOT from short-term rentals in the coastal zone, which are projected to total around $1.2 million, trending under budget by $44,871 (3.7%) this fiscal year. The City has over 150 licensed short-term rentals, with about 85 highly active over the summer months. However, the recent Palisades and Eaton fires have disrupted the local short-term rental market and the full impact remains to be seen. Three operators recently contacted the City with longer-term leases (over 30 days), which do not require the collection of TOT.
▪ Business License Tax – Business license tax, typically based on a business’s prior year gross receipts, has stayed consistent or experienced minor increases year-over-year.
Approximately, 100 businesses pay the maximum “cap” amount of business license tax, contributing around 34% of the total business license revenue collected. For FY 2025, business license tax revenues are estimated to exceed the adjusted budget by $303,652 (5.8%) and be $81,335 (1.5%) over the prior year.
▪ Real Estate Transfer Tax –Real Estate Transfer Tax is a key indicator of real estate activity, with revenue derived from a charge of fifty-five cents per $500 of sales price during property ATTACHMENT 1
4 transfers, split equally between the City of Manhattan Beach and the County of Los Angeles.
Based on transfer tax collections from all properties (residential and commercial) to date, revenues are expected to yield $800,000 for the year, in line with the current budget.
▪ Building Permits and Plan Check Fees – Revenues from all Building Permits and Plan Check fees are currently above budget by $162,500 (4.1%) despite a lower volume of permits and a lower amount of plan checks issued in the first half of FY 2025. The increased revenue is attributed to several large projects undergoing construction within the City. The number of demolition permits issued is slightly lower compared to the same period last year.
▪ Charges for Services – Revenue from other Service Charges (not including Plan Checks) is projected to be approximately $442,003 (5.6%) over budget, primarily due to Fire Mutual Aid Reimbursements. This one-time reimbursement offsets Fire Department Overtime costs resulting from mutual aid fire deployments.
▪ Operating Service Transfers – Operating Service Transfers include reimbursements to the General Fund, as outlined in the Cost Allocation Plan adopted in February 2020, from other Special Revenue and Enterprise Funds for Administrative Service Charges. In addition, Engineering staff time allocated to capital projects and grants is included in this reimbursement to the General Fund.
▪ Miscellaneous Revenues – This category includes miscellaneous revenues and Workers Compensation Salary Continuation. Salary Continuation reimbursement revenues fluctuate year-to-year with the number of employees out on Injury-On-Duty leave. Workers Compensation costs are volatile and difficult to predict due to our small population.
To align the Budget with projected actuals, the recommended Mid-Year Revenue Adjustments for FY 2025 include Local Transaction & Use Tax, Business License Tax and Fire Mutual Aid Reimbursements:
Table 2
Staff recommends approving these revenue adjustments to bring the revised General Fund revenue budget to $101.4 million.
Measure MMB Local TUT $1,200,000
Fire Mutual Aid Reimbursement 475,000
Business License Tax 303,651
Total GF Revenue Adjustments $1,978,651
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5 GENERAL FUND EXPENDITURES
The following are highlights of several key expenditure areas. Table 3 summarizes key General Fund Expenditures in Fiscal Year 2025 and compares this with prior year actuals. Projections for expenditures in FY 2025 are approximately $1.2 million (1.2%) above the current revised budget.
Per the City’s Financial Policies, total expenditures of a particular fund cannot exceed that which is appropriated by the City Council without a budget amendment. As such, staff is recommending budget adjustments to align the budget with specific one-time projects and expenditure overages that occurred during the first half of the fiscal year. Additionally, departments have submitted a few staffing adjustments to better align personnel resources with current operations, the details of which are described starting on page 7.
Table 3 displays General Fund Expenditures projected at the end of the year, in comparison to the adjusted budget and prior year by Category.
Table 3
Salaries and Wages for FY 2025 are projected to be nearly $1.9 million (4.3%) above budget. The increases to this category largely stem from Sworn Employee Salaries and Sworn Overtime costs.
When budgeted positions remain unfilled, additional budgetary savings occur. The FY 2025 Budget included a seven percent vacancy factor to account for these savings upfront. However, departments often must utilize overtime, part-time and/or contract services to ensure critical operations continue. When departments are fully staffed throughout the year or backfill vacant positions to keep up with workload demands, that department will exceed their budgeted personnel costs.
City employees who are eligible, can “cash-out” unused vacation or general leave instead of using it. Additionally, whenever an employee retires or separates from the City, accrued leave balances are also paid out. With a higher number of executive level retirements in FY 2025, cash-outs have increased, totaling approximately $934,800 to date. These cashouts were previously unbudgeted due to their unpredictability and were covered by budget savings created from having a lower Mid-Year Variance
FY 2024 Adjusted Projected Under/(Over)
Actual Budget Year End Budget %
Salaries & Wages $40,924,332 $42,868,936 $44,724,296 ($1,855,360) -4.3% Employee Benefits 15,997,363 15,945,798 16,565,597 ($619,799) -3.9% Contract & Professional Services 13,702,579 16,888,221 15,411,787 $1,476,434 8.7% Materials & Services 3,652,734 4,522,643 4,488,125 $34,518 0.8% Utilities 1,508,110 1,308,865 1,620,010 ($311,145) -23.8% Internal Service Charges 12,223,288 12,532,840 12,543,996 ($11,156) -0.1% Property & Equipment 111,641 876,299 753,249 $123,050 14.0% Bond Debt 5,640,406 5,625,105 5,660,215 ($35,110) -0.6% Transfers Out 13,273 13,134 13,134 - 0.0%
Total GF Expenditures $93,773,727 $100,581,841 $101,780,409 ($1,198,568) -1.2%
GENERAL FUND EXPENDITURES BY CATEGORY
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6 vacancy factor. However, recent legislation now requires employees to make an irrevocable election in advance for “cash outs” of unused vacation or general leave, which will assist in budgeting a portion of these costs in the future.
Sworn Overtime in the Fire Department is over budget by nearly $1.2 million. Of this amount, about $450,000 is related to fire mutual aid deployments, which will be reimbursed by State resources (a corresponding revenue adjustment is also requested). Other overtime accounts trending overbudget are due to full-time employees on Injury-On-Duty (IOD) medical leaves.
The Benefits category is expected to exceed budget by $619,799 (3.9%), consistent with the salary cost overruns. The benefits category includes employee medical insurance, Medicare, CalPERS retirement cost contributions, and 401A Plan contributions.
Contract & Professional Services expenditures are expected to be approximately $1.5 million (8.7%) below budgeted costs. The primary drivers contributing to these savings are Contract Services ($990,208) and Software Purchases & Subscriptions ($295,789). A significant portion of this savings is related to encumbered contracts and/or specific projects that will be carried forward into the next fiscal year. Additionally, legal services are projected to be $183,920 (11.3%) under budget.
Materials & Services are $34,518 (0.8%) below the budgeted amount. This variance is primarily due to unutilized funds in Department Supplies, with additional savings coming from Training, Conferences & Meetings.
The Utilities category is trending over budget by $311,145 (23.8%). When the budget is calculated, a CPI increase was applied to utility costs, but recent increases, specifically related to electricity, have far exceeded expectations.
Mid-Year Appropriation Adjustment Requests
At the midpoint of the year, departments have reviewed their expenditures and staffing levels and have submitted requests for adjustments based on operational needs. The recommended appropriation adjustments in the General Fund total approximately $1.2 million. Of this amount, $802,646 is allocated for one-time expenditures, and $395,922 is designated for on-going personnel and operating costs. Staff recommends approving these appropriations to align the revised General Fund expenditure budget with the year-end projection of $101.8 million.
Table 4 provides a summary of the appropriation requests.
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7 Table 4
Requested Changes to Authorized Positions
▪ Fire Department: Change Administrative Assistant to Executive Assistant in Position Allocation (No Budget Impact)
The Fire Department has historically had an Executive Assistant position authorized since at least 1996. In 2022, the position was temporarily underfilled with an Administrative Assistant, resulting in the deactivation of the Executive Assistant position in the payroll system. Subsequently, the title of the position in the FY 2025 Adopted Budget was updated to reflect this change, listing the Administrative Assistant classification. However, the Department’s intention is to maintain the Executive Assistant classification to meet the workload and skill level required.
▪ Finance Department: Add Accountant ($33,593 – Prorated – Ongoing) The annual cost of this new full-time position is $134,369. Due to the increasing complexity and volume of new regulations in recent years, the Accounting division has faced challenges in completing the necessary workload to comply with current accounting standards in a timely manner. This shortfall has resulted in delays in issuing financial statements for the past two years and has adversely affected overall accounting processes across all areas. The Finance Department has currently been underfilling a Senior Accountant position with an Accountant, and intends to staff the position at a Senior Accountant if this new position is approved.
Requested Changes to Overtime
▪ Fire Mutual Aid Overtime ($450,000 – One-time)
o Due to increased assistance provided through the state's master mutual aid agreement, the Fire Department has incurred overtime costs exceeding the budgeted amount for the year. The $450,000 requested will be offset by the corresponding increase in revenues associated with these operations.
▪ Fire Sworn Overtime ($150,109 – One-time)
o The Fire Department’s overtime expenses have exceeded budget due to an unforeseen number of Injury-on-Duty (IOD) leaves and the extended duration of the Fire Mutual Aid Reimbursement $450,000
Utilities - Electricity 302,329
Fire Overtime Sworn (IOD) 150,109
Developer Impact Fee Study 70,325
Parking Lot 3 Analysis 67,212
Ground Lease Negotiation & Fiscal Analysis 65,000
Density Bonus Application Review Consultant 60,000
Add Accountant 33,593
Change Administrative Assistant to Executive Assistant - Total GF Expenditure Adjustments $1,198,568
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8 IOD leave time. The requested funds will enable the department to address the gap between the current budget and the projected amount required to sustain full operations for the fiscal year.
Requested Changes to Contract Services
▪ Developer Impact Fee Study ($70,325 – One-time)
o This request will provide funds to engage the services of an independent contractor to conduct a comprehensive Citywide Development Impact Fee Study.
▪ Parking Lot 3 Economic Analysis ($67,212 – One-time)
o This request will provide funds to contract for real estate consulting services, as directed by City Council. The consultants will review background information on existing City operated lots and proximate private properties that may be suitable for joint use or shared parking, as well as the utilization of current lots. Furthermore, the consultant will develop a series of potential options, alternatives, and various scenarios for Lot 3 parcel, including parking solutions and/or other possible commercial uses.
▪ Ground Lease Negotiation and Fiscal Analysis ($65,000 – One-time) o This request will provide funds to engage a consultant for Ground Lease Negotiation and Fiscal Analysis services specifically related to the leases associated with Metlox and the Bay Club properties.
▪ Density Bonus Application Review Consultant ($60,000 – Ongoing) o This request allows staff to hire a consultant with expertise in the financial analysis of development projects, ensuring that, to the maximum extent possible, development projects maintain the small-town atmosphere that is the fabric of our community, as established by the collective vision for the City in our General Plan. Several projects within the Residential Overlay District (ROD) will require analysis to determine if requested incentives or concessions result in savings that would make the projects feasible. State law places the burden on the City to provide evidence for these savings, without it, requests must be granted. The estimated amount is $60,000, which may vary based on project needs and the level of analysis required.
Requested Changes to Utilities
▪ Electricity ($302,329 - Ongoing)
o As mentioned in the summary on page 6 for utilities, electricity costs have exceeded the amount budgeted. Staff is requesting an adjustment to bring the budget for electricity in line with the estimated amount to fully fund these costs.
General Fund Transfers to Other Funds
Over the next five years, net General Fund transfers are projected to range between $3.6 million and $4.3 million per fiscal year. In FY 2025, net transfers out are projected to total $4.1 million.
The Street Lighting & Landscaping Fund currently has no fund balance and assessments are inadequate to fund operations or provide for future capital needs. As a result, the General Fund ATTACHMENT 1
9 subsidizes this fund every year. An estimated subsidy of $313,346 will be required in FY 2025.
Street lighting costs are also on the rise due to utility cost increases imposed by Southern California Edison.
Budgeted transfers to Capital Improvement Program (CIP) Fund include $1.0 million to support ongoing infrastructure and project needs, and nearly $1.2 million as part of the Pension Liability Policy.
Lastly, a transfer to the Pension Rate Stabilization Trust Fund is budgeted at just under $1.8 million in accordance with the City’s Pension Policy (Pension Obligation Bond budgetary savings allocated 60% to fund future pension costs). The balance of the Trust Fund before the transfer is about $3.5 million. These funds are available to fund any pension-related payments to CalPERS at the City Council’s discretion.
Taking into account year-end projections and expected transfers, the unreserved General Fund balance is projected to be approximately $8.7 million at fiscal year-end. As part of the budget process, staff is refining the five-year forecast model for revenue and expenditure growth to ensure long-term fiscal sustainability. The City’s Financial Policies and fund transfers, such as for the allocation of budgetary savings derived from the issuance of Pension Obligation Bonds (POB), will be reviewed with the Finance Subcommittee at a future meeting. (Per the City’s Pension Policy, 40% of POB savings goes to the CIP Fund and 60% is allocated to a Section 115 Trust for future pension costs.) Additional policy recommendations, such as for the allocation of new Measure MMB Local TUT funds, will be thoroughly reviewed with the Finance Subcommittee and presented to City Council with the FY 2026 Proposed Budget presentation in May.
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10 Requested Changes to Authorized Positions
1) Upgrade Water Supervisor to Water Superintendent ($15,732 – Prorated – Water Fund – Ongoing)
While the final recommended salary range for the Water Superintendent is pending completion of the classification and compensation review and analysis, the estimated annual cost of this change is $33,054. With the impending commissioning of the water treatment plant, the Water Supervisor’s span of control and scope of work is increasing. This upgrade brings the position to a level t hat reflects the increased responsibilities the incumbent will undertake and the expertise required moving forward.
2) Change Maintenance Supervisor to Project Coordinator (-$6,518 – Prorated – Building & Operations Fund – Ongoing)
While the final recommended salary range for the Project Coordinator (or similar title) is pending completion of the classification and compensation review and analysis, the estimated annual savings resulting from this change is $15,644. The Field Operations Division needs additional support to manage work plans and facility-related projects that require plans and permits to ensure they are efficiently completed.
Requested Changes to Overtime
1) Police Overtime – LA IMPACT ($70,000 – Police Safety Grants Fund – Ongoing) The Manhattan Beach Police Department (MBPD) participates in the Los Angeles Interagency Metropolitan Police Apprehension Crime Task (LA IMPACT) Force, a regional collaboration that brings together officers from agencies across Los Angeles County to investigate major crimes Fund Description Amount
Insurance Fund Liability Claims Paid $1,500,000
Proposition A Fund Parking Lot 3 Closure – Summer Shuttle Services 74,000 Police Safety Grants Fund Police Overtime - LA IMPACT 70,000 Information Technology Fund Multi-Factor Authentication 40,000 Water Fund Upgrade Water Supervisor to Water Superintendent 15,732 Measure M Fund Parking Lot 3 Closure – Leased Parking Spaces 6,200 Building & Operations Fund Change Maintenance Supervisor to Project Coordinator (6,518) Total Other Expenditure Adjustments $1,699,414
ADJUSTMENTS TO OTHER FUNDS
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11 and identify, dismantle, and prosecute drug trafficking networks. Our participation is a valuable investment in the safety of our community, as the task force offers additional resources and manpower for surveillance operations, aiding in the identification and capture of criminals who are hard to apprehend through standard methods due to the complex and resource-intensive nature of these investigations.
MBPD has historically utilized Asset Forfeiture funds to cover the overtime incurred from our Department’s participation in LA IMPACT. An additional allocation of unreserved Asset Forfeiture funds is recommended to fully fund the expected overtime expenses with Asset Forfeiture funds.
Most of the overtime costs are reimbursed by the task force.
Requested Changes to Information Technology
2) Multi-Factor Authentication ($40,000 – Information Technology Fund – Ongoing) The software acquisition is required to address an FBI critical mandate requiring all entities accessing the Criminal Justice Information System (CJIS) to implement multi-factor authentication (MFA) starting October 1, 2024. The MFA is pivotal in meeting the CJIS security rule compliance standards to enhance the organization's cybersecurity posture. The Criminal Justice Information Services (CJIS) Division is an extension of the Federal Bureau of Investigation (FBI). CJIS is responsible for managing and providing access to criminal justice information such as fingerprints, criminal histories, and other sensitive data.
Other Requested Changes
3) Adjustment for Liability Claims Paid ($1.5 million – Insurance Fund – One-Time) This adjustment is necessary due to an increase in litigation expenses in the current fiscal year. 4) Parking Lot 3 Closure – Summer Shuttle Services ($74,000 – Proposition A Fund – One- time)
During the emergency closure of Parking Lot 3, which occurred in the summer of 2024 and coincided with the Manhattan Beach Volleyball Open, the City provided Shuttle service for above average visitation to the downtown area, to mitigate potential parking issues, and to alleviate traffic in the downtown area. As part of the shuttle program, the City secured the services of a transportation company to provide fixed route shuttles from Pacific Elementary and the Manhattan Village Mall.
5) Parking Lot 3 Closure – Leased Parking Spaces ($6,200 – Measure M Fund – One-time) In response to the emergency closure of Parking Lot 3, the City organized a shuttle service. The City leased parking spaces, including one level of a parking structure, from the Manhattan Village Mall for parking and established a pick-up point for the shuttle to transport visitors downtown.
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12 General Fund projections for Fiscal Year 2025 show total estimated revenues at $101.4 million, $2.0 above the current adjusted budget total, and estimated expenditures at $101.8 million, $1.2 million above the current adjusted budget total.
When comparing estimated year-end revenues and expenditures irrespective of the budget, expenditures are expected to exceed revenues by $351,750.
City staff is currently developing a proposed budget for FY 2026 with efforts underway to address budget challenges that could potentially lead to future deficits. This includes a thorough review of cost controls, explorations of potential revenue enhancements, and considerations of financial policy changes.
Finance staff will continue to monitor the City’s resources to ensure adequate funding for City services, public facilities, and infrastructure, meeting the community’s present and future needs.
Adopted General Fund Surplus/(Deficit) $508,264
Net Budget Adjustments to date (1,640,097)
Revenues over Budget 1,978,651
Operating Expenditures over Budget (1,198,568)
Projected General Fund Surplus/(Deficit) ($351,750)
CONCLUSION