RESOLUTION NO. 2024---
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MERCED, CALIFORNIA,
ADOPTING THE BUDGET AND
APPROPRIATING REVENUE FOR FISCAL
YEAR 2024-2025
WHEREAS, the City Manager has prepared and submitted to the City Council a Proposed Budget for the fiscal year commencing July 1, 2024, and ending June 30, 2025; and,
WHEREAS, the City Council has reviewed and modified the City Manager's Proposed Budget; and,
WHEREAS, the City Council held a public hearing on the Proposed Budget on June 3, 2024, where all interested persons were heard; and, WHEREAS, the City Council has considered the Budget and comments thereon, and has determined it is necessary for the efficient management of the City that certain sums of revenue be appropriated to the various departments, officers, and agencies and activities of the City as set forth in said budget, and as amended.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
MERCED DOES HEREBY FIND, DETERMINE, ORDER AND
RESOLVE AS FOLLOWS:
SECTION 1. That the annual Budget for the City of Merced for the Fiscal Year beginning July 1, 2024 and ending June 30, 2025, is hereby adopted.
SECTION 2. That said Budget hereby adopted is the aforementioned Proposed Budget prepared by the City Manager, entitled, "City of Merced 2024-2025 Budget," incorporated herein as though set forth in full.
SECTION 3. That the sums of money therein set forth are hereby appropriated from the revenues of the City to the departments, functions, and funds therein set forth for expenditures during the Fiscal Year 2024-2025.
X:\Resolutions\2024\Finance\Budget City Adoption FY 2024-25.docx 1 SECTION 4. That the recommended ending balance for June 30, 2025, shown in the proposed annual Financial Summary section is an estimate, and the actual ending balance is hereby appropriated as a reserve for unanticipated uses as determined by the City Council.
SECTION 5. That pursuant to the City Council adopted General Fund Reserve Policy, the General Fund reserves have been set at the minimum.
This included 30% set-aside in a separate fund and 5% remaining in the General Fund as contingency.
SECTION 6. That pursuant to Government Finance Officers Association best practice recommendation "Determining the Appropriate Level of Unrestricted Fund Balance in the General Fund" the unassigned portion of the unrestricted Measure C Fund fund balance will at a minimum be the average of two months of revenue and expenditures.
SECTION 7. Capital Improvement Projects revenue and unspent appropriation actual carryover budget amounts from 2023-2024 shall be recalculated and updated to reflect actual balances as of June 30, 2024 and are hereby incorporated as part of the 2024-2025 approved Budget.
SECTION 8. Grant Funds received and appropriated and unspent appropriation actual carryover budget amounts from 2023-2024 shall be recalculated and updated to reflect actual balances as of June 30, 2024 and are hereby incorporated as part of the 2024-2025 approved Budget.
SECTION 9. State law requires that an Appropriations Limit be adopted annually by the City Council. Article XIII B of the California Constitution places certain.restrictions on appropriations made by local governments and the restrictions are applicable to appropriations that meet the definition of "Proceeds of Taxes". The law allows the option to select the factors to be used to calculate the annual Appropriations Limit. For one of the factors the City must select between: (A) the change in the City of Merced population, or (B) the change in the Merced County population, and the City has selected the change in the City of Merced population. For the second adjustment factor the City must select between (A) the change in the State per capita income; or (B) the change in the assessed valuation of local non-residential construction, and the City has selected the change in the State per capita income. The appropriations subject to limitation in Fiscal X:\Resolutions\2024\Finance\Budget City Adoption FY 2024-25.docx 2 Year 2024-2025 shall be as set forth on and as calculated on Exhibit "A" attached hereto and made a part hereof.
SECTION 10. That the City Council hereby authorizes the Finance Officer to advance from Pooled Cash funds for which the City has received a reimbursable grant until such time as the grants funds are received by the City.
SECTION 11. Pursuant to Section 1112 of the Merced City Charter, the City Council hereby authorizes the use of the Cash Basis Fund for meeting General Fund expenditures prior to the receipt of the ad valorem tax revenues.
SECTION 12. As the Successor Agency for the housing obligations for the former Redevelopment Agency of the City of Merced, the City Council makes the findings and determinations set forth in Exhibit "B" attached hereto and made a part hereof.
SECTION 13. That the City Manager or designee is authorized to make transfers of budget appropriations between classifications and activities within a fund to purchase such items and services needed to accomplish those purposes set forth in the Program Statements of said Budget document and to insure the efficient and effective administration of City services.
SECTION 14. That the Finance Officer is authorized to continuously revise revenue budget and appropriation throughout the fiscal year based on actuals received from the Office of Emergency Services (Fire Department).
SECTION 15. That the Finance Officer is authorized to continuously revise revenue budget and appropriation throughout the fiscal year if funding is available or up to $10,000 based on actuals received for each Community Facilities District and/or Maintenance District.
SECTION 16. That the City Manager or designee is authorized to execute public works project contracts which are below the threshold amount which is adjusted annually by the Finance Officer in accordance with the Engineering Construction Cost Index.
'.X'.:\l.'lesoludons\1614\P1nance\Buclget Clty Aclopdon FV 1614-:B.docx 3 SECTION 17. That the new positions as set forth in Exhibit "C" attached hereto and made a part hereof, are hereby approved and included in the Fiscal Year 2024-2025 Budget.
PASSED AND ADOPTED by the City Council of the City of Merced at an adjourned regular meeting held on the __ day of June 2024, by the following called vote:
AYES: Council Members:
NOES: Council Members:
ABSTAIN: Council Members:
ABSENT: Council Members:
APPROVED:
MATTHEW SERRATTO, MAYOR
Mayor
X:\Resolutions\2024\Finance\Budget City Adoption FY 2024-25.docx 4 ATTEST:
D. SCOTT MCBRIDE, CITY CLERK
BY: -------------
Assistant/Deputy City Clerk
(SEAL)
APPROVED AS TO FORM:
CRAIG J. CORNWELL, CITY ATTORNEY
4 - .:.� C-z� .!5 -30 - ;J_f);J..'1
Cit ttomey Date
X:\Resolutions\2024\Finance\Budget City Adoption FY 2024-25.docx 5 Exhibit"A"
SUMMARY SCHEDULE
APPROPRIATION LIMIT
1 �?S-79 Revenue $ 1M72,S52 1978-79 Appropriations- $ 16,362,969 Less: non-proceeds as amended
of taxes 7,236,508 Less: non-proceeds of
debt service 719,175 taxes 7,236,508
Proceeds of taxes $ 5,516,669 debt service
approp. 719,175
1978-79 approp. limit
(Base Year) $ 8,407,286
Year of U.S. Con. Per Capita Ratio of Approp. Limit
Change Price Index Pers. Inc. Pop. Change Amount Year
78-79 1.1017 1.0440 1.1502 9,670,000 79-80
79-80 1.1211 1.0200 1.1435 11,057,858 80-81
80-81 1.0912 1.0160 1.1087 12,259,396 81-82
81-82 1.0679 1.1080 1.1832 14,505,724 82-83
82-83 1.0235 1.0534 1.0782 15,639,417 83-84
83-84 1.0474 1.0459 1.0955 17,132,601 84-85
84-85 1.0374 1.0514 1.0907 18,686,911 85-86
85-86 1.0230 1.0426 1.0666 19,931,082 86-87
88-87 1.0304 1.0548 1.0867 21,658,306 87-88
87-88 1.0393 1.0568 1.0983 23,788,016 88-89
88-89 1.0498 1.0429 1.0948 26,043,986 89-90
89-90 1.0421 1.0456 1.0896 28,378,042 90-91
90-91 1.0414 1.0366 1.0795 30,634,529 91-92
91-92 0.9936 1.0185 1.0120 31,001,580 92-93
92-93 1.0272 1.0193 1.0470 32,459,428 93-94
93-94 1.0071 1.0154 1.0226 33,193,314 94-95
94-95 1.0472 1.0131 1.0609 35,215,395 95-96
95-96 1.0467 1.0123 1.0596 37,313,331 96-97
98-97 1.0487 1.0127 1.0600 39,551,873 97-98
97-98 1.0415 1.0212 1.0636 42,066,574 98-99
98-99 1.0453 1.0182 1.0643 44,772,483 99-00
99-00 1.0491 1.0215 1.0717 47,980,685 00-01
00-01 1.0782 1.0181 1.0977 52,669,137 01-02
01-02 0.9873 1.0285 1.0154 53,482,246 02-03
02-03 1.0231 1.0203 1.0439 55,828,455 03-04
03-04 1.0328 1.0242 1.0578 59,054,991 04-05
04-05 1.0526 1.0454 1.1004 64,983,406 05-06
05-06 1.0396 1.0299 1.0707 69,576,696 06-07
06-07 1.0442 1.0509 1.0973 76,349,972 07-08
07-08 1.0429 1.0209 1.0647 81,289,556 08-09
08-09 1.0062 1.0123 1.0186 82,799,612 09-10
09-10 0.9746 1.0105 .9848 81,543,815 10-11
10-11 1.0251 1.0102 1.0356 84,443,189 11-12
11-12 1.0377 1.0055 1.0434 88,108,644 12-13
12-13 1.0512 1.0109 1.0627 93,629,362 13-14
13-14 0.9977 1.0096 1.0073 94,310,789 14-15
14-15 1.0382 1.0067 1.0452 98,569,482 15-16
15-16 1.0537 1.0103 1.0646 104,932,448 16-17
16-17 1.0369 1.0115 1.0488 110,055,707 17-18
17-18 1.0367 1.0173 1.0546 116,068,590 18-19
18-19 1.0385 1.0138 1.0528 122,200,645 19-20
19-20 1.0373 1.0237 1.0619 129,762,911 20-21
20-21 1.0573 1.0307 1.0898 141,410,314 21-22
21-22 1.0755 1.0097 1.0859 153,562,035 22-23
22-23 1.0444 1.0165 1.0616 163,026,462 23-24
23-24 1.0362 1.0191 1.0560 172,154,545 24-25
2024-25 Projected Revenue Subject to Appropriation:
Limit:
Taxes $ 67,668,216
Other Agencies ( State Subventions) 12,590,544
Interest 901,082
Total $ 81,159,842
Revenues to be received during 2024-25 will not exceed the appropriation limit for 2023-24 in compliance with the State Constitution.
EXHIBIT A
EXHIBIT "B''
FINDINGS AND DETERMINATIONS
AS THE HOUSING SUCCESSOR AGENCY
FINDINGS:
1. Pursuant to California Redevelopment Law (Health & Safety Code Section 33000 et seq.) the City of Merced, California as the housing successor to the former Redevelopment Agency of the City of Merced ("Successor Agency") is required to establish a fund for the purpose of increasing, improving, and preserving the community's supply of low and moderate income housing available at affordable housing cost using Low and Moderate Income funds; and,
2. The Successor Agency has established Low and Moderate Income Housing Funds for the purpose of increasing, improving, and preserving the community's supply of low and moderate income housing in the City's former two project areas; and,
3. The City ofMerced's General Plan Housing Element provides substantial evidence that there is a significant need for affordable housing throughout the City of Merced; and,
4. Affordable housing development opportunities are not confined to the Successor Agency's former two Project Areas but instead are found throughout the entire community of Merced; and,
5. Residential housing development opportunities are particularly limited in the forth Project Area 2 due to the small amount of residentially zoned land in the former Project Area; and,
6. The California Health and Safety Code provides authority for expending Redevelopment Low-Moderate Income Housing funds throughout the community without limit as to project area boundaries if the use of such funds will of benefit to the project areas.
X:\Resolutions\2024\Finance\Budget City Adoption FY 2024-25.docx 6 EXHIBIT B
DETERMINATIONS:
1. Expenditures of Low-Moderate Income Housing funds outside the Successor Agency's former two Project Areas are necessary and reasonable and will be of benefit to the Project Area 2 and Gateways Project Area.
2. The expenditure of the former Project Area 2 and Gateways Project A�ea Low-Moderate Income Housing funds anywhere in the City of Merced,including areas inside and outside of the former Project Area 2 and Gateways Project Area, is hereby authorized.
X:\Resolutions\2024\Finance\Budget City Adoption FY 2024-25.docx 7 JOB TITLE GRADE Step Range 1 2 3 4 5
Assistant Building Official 836 Annual 101,973.66 107,072.37 112,425.46 118,047.28 123,949.49 Monthly 8,497.81 8,922.70 9,368.79 9,837.27 10,329.12 Hourly 49.0258 51.4771 54.0507 56.7535 59.5911 Annual Premium 3,059.21 3,212.17 3,372.76 3,541.42 3,718.48 Lead Custodian 131 Annual 46,881.95 49,226.11 51,687.38 54,271.78 56,985.34 Monthly 3,906.83 4,102.18 4,307.28 4,522.65 4,748.78 Hourly 22.5394 23.6664 24.8497 26.0922 27.3968 Exhibit C
New Postions Proposed FY 2024-25