City of Morgan Hill
Resolution No. 23-044
occupancy located within the boundaries of the City of Morgan Hill, as shown in the map attached as Exhibit A.
6. The name of the district shall be Morgan Hill Tourism Business Improvement District (MHTBID).
7. The annual assessment rate is one and one half percent (1.5%) of gross short-term sleeping room rental revenue. During the MHTBID’s term, the assessment rate may be increased annually by the Owner’s Association upon approval from the Board of Directors by a maximum of one half of one percent (0.5%) of gross short-term sleeping room rental revenue per year. The maximum assessment rate may not exceed three percent (3%) of gross short-term sleeping room rental revenue. If the assessment rate is increased, it may subsequently be decreased by a maximum of one half of one percent (0.5%) each year, but shall not be decreased below a minimum of one- and one-half percent (1.5%) of gross short-term sleeping room rental revenue. Any proposed assessment rate increase or decrease shall be included in the MHTBID annual report and shall not be effective until approved by the Morgan Hill City Council.
Based on the benefit received, assessments will not be collected on: stays of more than thirty (30) consecutive days or stays by any officer or employee of a foreign government who is exempt by reason of express provision of federal law or international treaty.
8. The assessments levied for the MHTBID shall be applied toward sales and marketing and sports facility marketing & development programs to market assessed lodging businesses in Morgan Hill as tourist, meeting, and event destinations, as described in the Plan. Funds remaining at the end of any year may be used in subsequent years in which MHTBID assessments are levied as long as they are used consistent with the requirements of this resolution and the Plan.
9. The renewed MHTBID will have a ten (10) year life, beginning March 1, 2024 or as soon as possible thereafter, and ending ten (10) years from its start date, unless renewed pursuant to Streets and Highways Code § 36660.
10. Bonds shall not be issued.
11. The time and place for the public meeting to hear testimony on establishing the MHTBID and levying assessments are set for November 1, 2023 at 6:00 PM, or as soon thereafter as the matter may be heard, at the City Council Chamber Building located at 17555 Peak Ave., Morgan Hill, CA 95037. Following the public meeting, the City Council shall move to introduce and conduct the first reading of the Ordinance to renew the MHTBID and continue the levy of assessments.
12. The time and place for the public hearing to establish the MHTBID and the levy of assessments are set for December 6, 2023, at 6:00 PM, or as soon thereafter as the matter may be heard, at the City Council Chamber Building located at 17555 Peak Ave., Morgan Hill, CA 95037. The City Clerk is directed to provide written notice to the lodging businesses subject to assessment of the date and time of the meeting and hearing, and to provide that notice as required by Streets and Highways Code §36623, no later than October 21, 2023.
13. At the public meeting and hearing the testimony of all interested persons for or against the DocuSign Envelope ID: DB196814-AC3B-4464-A9B6-B6B4F6AA9F6C
City of Morgan Hill
Resolution No. 23-044
renewal of the MHTBID may be received. If at the conclusion of the public hearing, there are of record written protests by the owners of the lodging businesses within the renewed MHTBID that will pay more than fifty percent (50%) of the estimated total assessment of the entire MHTBID, no further proceedings to renew the MHTBID shall occur for a period of one (1) year.
14. Following a successful public hearing, at the same City Council meeting on December 6, 2023, held at the City Council Chamber Building located at 17555 Peak Ave., Morgan Hill, CA 95037, the City Council may conduct a second reading of the Ordinance to renew the MHTBID and to continue the levy of assessments. At the conclusion of the second reading of the Ordinance, the City Council may adopt the Ordinance, renewing the MHTBID and levying the assessments.
15. The complete Plan is on file with the City Clerk and may be reviewed upon request.
16. This resolution shall take effect immediately upon its adoption by the City Council.
PASSED AND ADOPTED THIS 4
TH DAY OF OCTOBER 2023, AT A REGULAR MEETING
OF THE CITY COUNCIL BY THE FOLLOWING VOTE:
AYES: COUNCIL MEMBERS: Gino Borgioli, Marilyn Librers, Mark Turner, Rene Spring, Yvonne Martinez Beltran
NOES: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
APPROVED: ATTEST:
___________________________________ _______________________________ MARK TURNER, Mayor MICHELLE BIGELOW, City Clerk
CERTIFICATION
DocuSign Envelope ID: DB196814-AC3B-4464-A9B6-B6B4F6AA9F6C
City of Morgan Hill
Resolution No. 23-044
I, Michelle Bigelow, City Clerk of the City of Morgan Hill, California, do hereby certify that the foregoing is a true and correct copy of Resolution No. 23-044 adopted by the City Council at the meeting held on the 4th day of October 2023.
WITNESS MY HAND AND THE SEAL OF THE CITY OF MORGAN HILL.
DATE: _____________________ ___________________________________ MICHELLE BIGELOW, City Clerk
DocuSign Envelope ID: DB196814-AC3B-4464-A9B6-B6B4F6AA9F6C 10/9/2023
City of Morgan Hill
Resolution No. 23-044
EXHIBIT A
District Boundaries
DocuSign Envelope ID: DB196814-AC3B-4464-A9B6-B6B4F6AA9F6C
8 CITY COUNCIL STAFF REPORT
MEETING DATE: November 1, 2023
PREPARED BY:
Dat Nguyen, Finance Director
APPROVED BY: City Manager
RECEIVE MONTHLY BUDGET UPDATE; SEPTEMBER 2023
FINANCIAL AND INVESTMENT REPORTS; AND CITY MANAGER
AUTHORITY REPORT
RECOMMENDATION(S)
Accept and file report.
COUNCIL PRIORITIES, GOALS & STRATEGIES
City Council Ongoing Priorities
Preserving and Cultivating Public Trust
2022-2023 Strategic Priorities
Fiscal Sustainability
Community Outreach, Engagement, and Messaging
REPORT NARRATIVE:
As part of the City Council’s expectation to maintain a high level of transparency and to be responsible stewards of public funds, staff is providing this monthly budget update, along with the September 2023 financial and investment reports.
September 2023 Financial Report
The Revenue and Expense Summary through September 2023 is included on the first page of the monthly financial report. Overall, General Fund revenues total $6.0 million or about 11% of the budget. Expenditures, including encumbrances, amounted to $16.1 million, of which approximately $3.9 million is attributable to outstanding encumbrances, compared to prior year expenditures, including encumbrances, of $15.1 million. This represents an increase of $1.0 million, including encumbrances, compared to the prior year. Excluding the encumbrances, expenditures increased by about $0.6 million mainly due to new programs such as Innovative Transit, continued recovery in Recreation Services, as well as overall cost increases.
Budget Update
There has been no material change to the City’s revenue since the last budget update to the Council on August 23, 2023. Based on the latest forecast provided by the County, the City is expected to receive approximately $18.8 million in property tax revenue for
8 the current fiscal year, slightly more than the budget of $18.5 million. However, this is offset by a downward revision of our sales tax revenue by HdL, the City's sales tax consultant, of about $0.2 million for the current fiscal year. Recreation Services revenues continue to recover from the pandemic and on target with budget. For water revenue, Morgan Hill residents consumed about 2% less water through September compared to the prior three-year average. As such, no revenue stabilization water rate was implemented.
City Manager’s Authority Report
Pursuant to the City Council Policy 18-05 – Report on delegation of authority to City Manager, Page 21 of Attachment 1 lists the contracts and or agreements between $25,000 to $60,000, or the limit of the California Uniform Public Construction Cost Accounting Act (CUPCCAA), entered into by the City Manager since the last report from August 10, 2023, through October 18, 2023.
COMMUNITY ENGAGEMENT:
Inform
Finance staff prepares these financial reports to inform City officials, the Council, the community, and various lenders and stakeholders about the financial health of the organization, which assists each one of the interested parties in making sound financial and investment decisions.
ALTERNATIVE ACTIONS:
No alternative action is recommended, as this is a monthly financial report on City transactions which have already occurred.
PRIOR CITY COUNCIL AND COMMISSION ACTIONS:
The City Council receives and files the financial and investment report for each month.
At the September 16, 2015 meeting, City Council recommended monthly financial and investment reports be agendized under the Consent Agenda, and quarterly financial and investment reports be presented to City Council as an “Other Business” item.
FISCAL AND RESOURCE IMPACT:
The preparation of the report is a part of the Finance workplan.
CEQA (California Environmental Quality Act):
Not a Project
Organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment.
FINANCE DEPARTMENT
CITY OF MORGAN HILL
September 30, 2023 - 25% of Year Complete
Prepared by:
Monthly Financial and Investment Reports
CITY OF MORGAN HILL, CALIFORNIA
FINANCIAL STATEMENT ANALYSIS - FISCAL YEAR 2023-24
FOR THE MONTH ENDED SEPTEMBER 2023 – 25% OF YEAR COMPLETE General Fund – Revenues through September totaled $6.0 million, or about 11% of the budgeted revenues as some of the major revenue categories such as property tax are received later in the fiscal year. With respect to the property tax revenue forecast, the County estimates the City will receive approximately $18.8 million in property tax revenue for the current fiscal year, slightly more than the budget of $18.5 million. As for sales tax, HdL, the City's sales tax consultant revised the City's current fiscal year sales tax revenue estimate, before tax rebates, to $12.5 million, a downward revision of about $0.2 million from the current year budget, partially attributable to falling gas prices, lower household discretionary spending, and weaker consumer confidence.
The chart below shows historical General Fund revenues by major revenue category from FY19-20 through FY21-22 Actual, Un-audited FY22-23, FY23-24 Budget, and YTD as of September 30, 2023.
General Fund expenditures and encumbrances through September totaled $16.1 million, of which approximately $3.9 million is attributable to outstanding encumbrances, compared to prior year expenditures, including encumbrances, of $15.1 million. This represents an increase of $1.0 million, including encumbrances, compared to the prior year. Excluding the encumbrances, expenditures increased by about $0.6 million mainly due to new programs such as Innovative Transit, continued recovery in Recreation Services, as well as overall cost increases. Community Services – The Community Services Department’s recreation operations, as reflected in the schedule presented on page 7 of the Monthly Financial and Investments Reports, shows a negative impact to the General Fund of approximately $1.3 million as of September 30, 2023. Recreation Services revenues continue to recover from the pandemic and on target with budget. $14.5 $16.0 $16.7 $18.1 $18.5
$9.7 $11.0 $12.9 $12.7 $12.7 $4.6 $4.4
$5.9 $5.3 $5.8 $8.3 $5.7
$7.5 $9.3 $10.0
$3.6
$9.7
$9.1 $6.8 $6.5
$40.6
$46.8
$52.1 $52.3 $53.5
$6.0
0 10
20 30
40 50
60 FY19‐20 FY20‐21 FY21‐22 Un‐audited
FY22‐23
Budget
FY23‐24
YTD
FY23‐24
Millions ($)
Historical GF Revenues
Property Tax Sales Tax Franchise and Hotel Taxes Service Charges Other
CITY OF MORGAN HILL, CALIFORNIA
FINANCIAL STATEMENT ANALYSIS - FISCAL YEAR 2023-24
FOR THE MONTH ENDED SEPTEMBER 2023 – 25% OF YEAR COMPLETE The chart below shows the historical net impact of Recreation Operations to the general fund.
Due to longstanding governmental accounting and budgeting convention, the City’s recreation operations are not charged for indirect costs (known in Morgan Hill as “General Fund Administration”) from the central services departments of City Attorney, City Manager, and Administrative Services.
The City’s other governmental funds, such as Development Services, and the proprietary funds, such as Water and Wastewater, and the Information Services Fund, are assessed such charges through the City’s indirect cost allocation plan, prepared in compliance with the guidelines set forth in the Code of Federal Regulations Title 2, Chapter II, Part 200 (formerly OMB Circular No. A-87), which mandates certain calculation and cost allocation practices that must be followed in order to qualify for Federal grant funding, but which also represents best practice for non-grant funded City operations like utilities and information services.
Development Services Fund – Revenues through September totaled $1.1 million compared to prior year to date amount of approximately $1.6 million. Expenditures, including encumbrances, totaled $1.4 million.
Debt Service Funds – Expenditures through September totaled $1,883. The debt service for the first half of the year includes both interest and principal, while the second half of the year will include interest only. Debt service payments were all scheduled when the bonds were issued and are budgeted for in the months delineated in the underlying bond documents. The General Fund’s portion of the annual debt service payments is approximately $200,000, less than one percent of the General Fund’s budgeted revenues.
($2.0)
($1.5)
($1.0)
($0.5)
$0.0
$0.5
FY14‐15 FY15‐16 FY16‐17 FY17‐18 FY18‐19 FY19‐20 FY20‐21 FY21‐22 Un‐audited FY22‐23
FY23‐24
Budget
Millions (S)
Historical Net GF Impact
CITY OF MORGAN HILL, CALIFORNIA
FINANCIAL STATEMENT ANALYSIS - FISCAL YEAR 2023-24
FOR THE MONTH ENDED SEPTEMBER 2023 – 25% OF YEAR COMPLETE Wastewater Operations – Revenues through September 30, 2023 totaled $2.6 million. Expenditures and outstanding encumbrances totaled $2.3 million or 15% of the budget. The table below shows historical Wastewater Operations revenues and expenditures from FY19-20 through FY21-22 Actual, Un-audited FY22-23, FY23-24 Budget, and YTD as of September 30, 2023. (amount in millions) FY19‐20 FY20‐21 FY21‐22
Un‐audited
FY22‐23
Budget
FY23‐24
YTD
FY23‐24
Revenues 13.3 14.9 11.9 15.3 15.6 2.6 Expenditures 13.3 14.8 12.3 16.0 15.5 2.3 Operating Margin (0.4) 0.1 (0.7) ‐ 0.1 0.3 Operating Margin
without Encumbrances (0.1) 0.1 (0.7) ‐ 0.1 0.4 Water Operations – Water Operations includes Utility Billing, Water Conservation, and Water Operations. Revenues through September 30, 2023 totaled $3.9 million. Water Operations expenditures, including outstanding encumbrances, totaled $4.8 million. Morgan Hill residents consumed about 2% less water through September compared to the prior three-year average. As such, no revenue stabilization water rate was implemented. The table below shows Water Operations revenues and expenditures from FY19-20 through FY21-22 Actual, Un-audited FY22-23, FY23-24 Budget, and YTD as of September 30, 2023.
(amount in millions) FY19‐20 FY20‐21 FY21‐22
Un‐audited
FY22‐23
Budget
FY23‐24
YTD
FY23‐24
Revenues 15.3 16.5 16.0 18.1 19.8 3.9 Expenditures 16.5 15.2 16.4 18.0 20.1 4.8 Operating Margin (1.1) 0.8 ‐ (0.3) 0.1 (0.9) Operating Margin
without Encumbrances (0.1) 0.8 ‐ (0.3) 0.1 (0.1) Investments – One security was called, and one new security was purchased. Total interest earnings received on investments were $463,000 during the month.
% OF ACTUAL PLUS % OF
FUND NAME ACTUAL BUDGET ENCUMBRANCES BUDGET
General 5,973,745 $ 11% $ 16,070,032 28%
Development Services 1,105,469 17% 1,439,512 23%
Housing Successor Agency 82,066 34% 691,050 59%
Wastewater Operations 2,578,987 17% 2,321,172 15%
Wastewater Other 1,950,233 20% 4,862,938 23%
Water Operations 3,892,787 20% 4,820,425 24%
Water Other 1,943,327 22% 1,668,979 11%
Other Special Revenues * 1,224,174 15% 1,730,006 20%
Capital Projects & Streets 2,226,501 17% 23,073,462 49% Debt Service 171,724 25% 1,883 0%
Internal Service 2,564,706 21% 4,665,988 38%
TOTAL FOR ALL FUNDS 23,713,719 $ 16% $ 61,345,447 30%
* Includes all Special Revenue Funds except Development Services Fund, Street Funds, and Housing Successor Agency.
REVENUES EXPENSES
0% 10% 20% 30% 40% 50% 60% 70%
General
Development
Services
Housing
Successor
Agency
Wastewater
Operations
Wastewater Other
Water Operations
Water Other
Other Special
Revenues *
Capital Projects
& Streets
Debt Service
Internal Service
Morgan Hill YTD Revenue & Expense Summary
September 30, 2023 - 25% of Year Complete
Revenues to Budget Expenses to Budget
Percentage of Actual to Budget
25%
% OF PRIOR YEAR % CHANGE FROM
REVENUE CATEGORY BUDGET ACTUAL BUDGET TO DATE PRIOR YEAR Property Tax 18,472,000 $ 34,018 $ 0% 48,929 $ -30%
Sales Tax 12,673,967 1,074,625 9% 1,023,074 5%
Franchise Tax 2,983,800 - - N/A
Hotel Tax 2,800,000 495,598 18% 445,985 11%
Other Agencies 1,011,233 182,446 18% 97,076 88%
Service Charges 10,006,079 2,801,577 28% 2,464,942 14%
Interest/Other 2,173,687 695,547 32% 355,339 96%
Transfers In 3,342,540 689,933 21% 672,747 3%
TOTAL REVENUES 53,463,306 $ 5,973,745 $ 11% 5,108,091 $ 17% 0% 5% 10% 15% 20% 25% 30% 35%
Property Tax
Sales Tax
Franchise Tax
Hotel Tax
Other Agencies
Service Charges
Interest/Other
Transfers In
Total Revenues
Percent of Actual to Budget
Morgan Hill YTD General Fund Revenues
September 30, 2023 - 25% of Year Complete
25%
ACTUAL PLUS PRIOR YTD PLUS % CHANGE FROM
EXPENDITURE CATEGORY BUDGET ENCUMBRANCES % OF BUDGET ENCUMBRANCES PRIOR YEAR Administration $ 6,465,162 $ 1,805,424 28% 2, $ 086,289 -13% Community Services 17,199,011 5,868,647 34% 5, 292,320 11% Police 23,578,404 5,671,096 24% 4, 840,010 17%
Fire 9,067,905 2,398,924 26% 2, 538,163 -5%
Transfers Out 1,303,767 325,942 25% 321,829 1%
TOTAL EXPENDITURES $ 57,614,249 $ 16,070,032 28% 15, $ 078,610 7% 0% 10% 20% 30% 40%
Administration
Community
Services
Police
Fire
Transfers Out
Total Expenditures
Percent of Actual to Budget
Morgan Hill YTD General Fund Expenditures
September 30, 2023 - 25% of Year Complete
25%
City of Morgan Hill
Recreation Report - Fiscal Year 2023-24
For the Month Ended September 30, 2023
25% of Year Complete
% of
Budget September 2023 YTD Budget
Revenues
Membership Services & Rec Programs 5,656,265 $ 402,566 $ 1,687,617 $ Facility Rentals 1,203,269 189,888 420,515
Community Services 152,498 2,252 7,546
Transfers in 75,000 6,250 18,750
Total Revenues 7,087,032 $ 600,956 $ 2,134,428 $ 30%
Less: Expenditures
Membership & Program Services 7,200,406 $ 453,118 $ 1,733,996 $ Facility Rentals 573,524 50,119 125,097
Community Services 672,192 41,984 113,047
Total Expenditures 8,446,123 $ 545,219 $ 1,972,140 $ 23% Net Impact without encumbrances (1,359,091) $ 55,737 $ 162,287 $ Encumbrances - - 1,478,226
Net Impact with encumbrances (1,359,091) $ 55,737 $ (1,315,938) $
The chart below shows cash balances by fund type reconciled to City's financial system:
City of Morgan Hill
Monthly Investment Report ‐ September 30, 2023
The following are the snapshots of City's investment portfolio as of September 30, 2023. The first chart shows the portfolio composition by investment type:
LAIF ‐ $0.2M
0%
CA Class ‐ $16.9M
9%
Treasury ‐ $14.9M
8%
Money Market ‐
$1.6M
1%
Federal Agency Issues ‐
$141.3M
76%
Certificate of Deposits ‐
$1.2M
1%
Bond Reserves/Trust ‐
$7.2M
4%
Cash & Other Deposits ‐ $2.0M
1%
Investment Portfolio Composition ‐ $185.3 Million
LAIF ‐ $0.2M
CA Class ‐ $16.9M
Treasury ‐ $14.9M
Money Market ‐ $1.6M
Federal Agency Issues ‐
$141.3M
Certificate of Deposits ‐
$1.2M
Bond Reserves/Trust ‐
$7.2M
Cash & Other Deposits ‐
$2.0M
General Fund, $29.7M Community
Development, $1.7M
Housing Successor
Agency/ CDBG, $3.9M
Water ‐ Operations,
$3.1M
Water Other, $25.4M
Sewer ‐ Operations,
Sewer Other, $43.0M $2.4M
Other Special Revenue,
$9.1M
Streets and Capital
Projects, $42.4M
Debt Service, $0.5M
Internal Service,
$23.2M
Agency Funds (assessment
dists./refundable deposits), $0.9M
Cash Balances by Fund Type
$185.3 Million
The following chart illustrates a yield comparison by month among the City's portfolio, LAIF and 2‐Year US Treasury:
The chart below illustrates monthly average days to maturity of the City's portfolio along with the weighted average yield for the past two years:
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Sep‐21
Oct‐21
Nov‐21
Dec‐21
Jan‐22
Feb‐22
Mar‐22
Apr‐22
May‐22
Jun‐22
Jul‐22
Aug‐22
Sep‐22
Oct‐22
Nov‐22
Dec‐22
Jan‐23
Feb‐23
Mar‐23
Apr‐23
May‐23
Jun‐23
Jul‐23
Aug‐23
Sep‐23
Yield Portfolio vs. Benchmarks
LAIF City 2 Yr US‐Treasury
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
660
680
700
720
740
760
780
800
820
840
Sep‐21
Oct‐21
Nov‐21
Dec‐21
Jan‐22
Feb‐22
Mar‐22
Apr‐22
May‐22
Jun‐22
Jul‐22
Aug‐22
Sep‐22
Oct‐22
Nov‐22
Dec‐22
Jan‐23
Feb‐23
Mar‐23
Apr‐23
May‐23
Jun‐23
Jul‐23
Aug‐23
Sep‐23
Days Yield
Portfolio Yield and Maturity Trends
Avg Days to Maturity Yield
City of Morgan Hill
Investment Portfolio Detail
As of September 30, 2023
Investment Settlement Cost Book % of Market YTM Next Call Date of Type CUSIP Date Value Value Portfolio Value at Cost Date Maturity L A I F $ 248,329 $ 248,329 0.13% $ 244,561 3.53% California C L A S S 16,893,011 16,893,011 9.12% 16,893,011 $ 5.48% City Managed
Treasury Bill 912797GV3 6/6/2023 1,671,172 1,699,273 0.92% 1,699,745 5.31% 10/3/2023 10/3/2023 Treasury Note 91282CCZ2 10/8/2021 1,987,656 1,992,558 1.08% 1,784,680 1.00% 9/30/2026 9/30/2026 Treasury Note 91282CDR9 1/4/2022 1,999,141 1,999,891 1.08% 1,977,180 0.77% 12/31/2023 12/31/2023 Treasury Note 91282CDR9 1/19/2022 1,989,688 1,998,666 1.08% 1,977,180 1.02% 12/31/2023 12/31/2023 Treasury Note 91282CDV0 2/11/2022 1,977,969 1,996,231 1.08% 1,970,240 1.44% 1/31/2024 1/31/2024 Treasury Note 9128286R6 3/28/2022 1,996,320 1,998,974 1.08% 1,963,440 2.34% 4/30/2024 4/30/2024 Treasury Note 912828U24 6/13/2022 1,904,688 1,932,644 1.04% 1,839,620 3.16% 11/15/2026 11/15/2026 Treasury Note 91282CAW1 11/17/2022 1,246,984 1,293,282 0.70% 1,291,953 4.49% 11/15/2023 11/15/2023 FFCB Bond 3133ELVX9 4/8/2020 2,000,000 2,000,000 1.08% 1,951,800 0.88% 10/8/2023 4/8/2024 FFCB Bond 3133ELC28 5/27/2020 2,000,000 2,000,000 1.08% 1,853,420 0.73% 11/27/2023 5/27/2025 FHLMC Bond 3134GVYN2 6/3/2020 2,000,000 2,000,000 1.08% 1,890,360 0.60% 12/3/2023 12/3/2024 FHLMC Bond 3134GWZG4 10/20/2020 2,000,000 2,000,000 1.08% 1,820,640 0.60% 10/20/2023 10/20/2025 FHLMC Bond 3134GW3X2 10/27/2020 2,000,000 2,000,000 1.08% 1,820,220 0.63% 10/27/2023 10/27/2025 FHLMC Bond 3134GW6E1 11/2/2020 2,000,000 2,000,000 1.08% 1,991,440 0.32% 11/2/2023 11/2/2023 FFCB Bond 3133EMFR8 11/3/2020 2,000,000 2,000,000 1.08% 1,813,200 0.54% 11/3/2023 11/3/2025 FNMA Bond 3135GA4P3 11/18/2020 2,000,000 2,000,000 1.08% 1,814,620 0.65% 11/18/2023 11/18/2025 FHLMC Bond 3134GXEJ9 11/24/2020 2,000,000 2,000,000 1.08% 1,812,860 0.64% 11/24/2023 11/24/2025 FFCB Bond 3133EMHF2 11/24/2020 1,000,000 1,000,000 0.54% 905,630 0.60% 11/24/2023 11/24/2025 FHLMC Bond 3134GXCS1 11/25/2020 3,000,000 3,000,000 1.62% 2,718,060 0.63% 11/25/2023 11/25/2025 FHLMC Bond 3134GXFA7 11/30/2020 2,000,000 2,000,000 1.08% 1,812,840 0.65% 11/26/2023 11/26/2025 FFCB Bond 3133EMLC4 12/22/2020 2,000,000 2,000,000 1.08% 1,800,240 0.47% 12/22/2023 12/22/2025 FHLB Bond 3130AKQ74 1/22/2021 2,000,000 2,000,000 1.08% 1,800,360 0.63% 1/22/2024 1/22/2026 FNMA Bond 3135G06R9 1/28/2021 2,000,000 2,000,000 1.08% 1,795,980 0.55% 1/28/2024 1/28/2026 FHLB Bond 3130AKRN8 1/28/2021 2,000,000 2,000,000 1.08% 1,800,300 0.65% 1/28/2024 1/28/2026 FHLB Bond 3130ALCV4 2/24/2021 2,000,000 2,000,000 1.08% 1,799,360 0.75% 2/24/2024 2/24/2026 FHLB Bond 3130ALDB7 2/25/2021 2,000,000 2,000,000 1.08% 1,795,160 0.66% 2/25/2024 2/25/2026 FHLB Bond 3130AKZ25 2/26/2021 2,000,000 2,000,000 1.08% 1,794,520 0.65% 2/26/2024 2/26/2026 FHLB Bond 3130ALGS7 3/10/2021 2,000,000 2,000,000 1.08% 1,801,060 0.85% 3/10/2024 3/10/2026 FHLB Bond 3130ALEP5 3/16/2021 2,000,000 2,000,000 1.08% 1,793,160 0.70% 3/16/2024 3/16/2026 FHLB Bond 3130ALDN1 3/16/2021 2,000,000 2,000,000 1.08% 1,797,720 0.80% 3/16/2024 3/16/2026 FHLB Bond 3130AMNH1 6/9/2021 2,000,000 2,000,000 1.08% 1,796,680 1.08% 12/9/2023 6/9/2026 FHLB Bond 3130AMYJ5 6/30/2021 2,000,000 2,000,000 1.08% 1,789,040 1.00% 12/30/2023 6/30/2026 FHLB Bond 3130AMYP1 7/15/2021 3,000,000 3,000,000 1.62% 2,689,590 1.13% 1/15/2024 7/15/2026 FHLB Bond 3130AMYS5 7/15/2021 2,000,000 2,000,000 1.08% 1,847,800 0.85% 1/15/2024 7/15/2025 FHLB Bond 3130ANJC5 8/26/2021 2,000,000 2,000,000 1.08% 1,768,980 0.80% 2/26/2024 8/26/2026 FHLB Bond 3130ANLW8 8/26/2021 3,000,000 3,000,000 1.62% 2,669,400 1.00% 2/26/2024 8/26/2026 FHLB Bond 3130ANLZ1 8/26/2021 2,000,000 2,000,000 1.08% 1,774,280 0.90% 2/26/2024 8/26/2026 FHLB Bond 3130A8XY4 9/13/2021 2,103,340 2,060,981 1.11% 1,834,080 0.82% 3/11/2024 9/11/2026 FFCB Bond 3133EM4X7 9/28/2021 1,982,960 1,989,864 1.07% 1,774,720 0.98% 3/10/2024 9/10/2026 FHLB Bond 3130APCH6 9/29/2021 3,000,000 3,000,000 1.62% 2,671,200 1.13% 3/29/2024 9/29/2026 FHLB Bond 3130ANZE3 9/30/2021 2,000,000 2,000,000 1.08% 1,781,380 0.88% 3/30/2024 9/30/2026 FHLB Bond 3130AP6N0 9/30/2021 3,000,000 3,000,000 1.62% 2,664,810 1.05% 3/30/2024 9/30/2026 FHLB Bond 3130AP6M2 9/30/2021 3,000,000 3,000,000 1.62% 2,662,350 1.02% 3/30/2024 9/30/2026 FHLB Bond 3130APCG8 10/19/2021 2,000,000 2,000,000 1.08% 1,770,400 1.00% 10/19/2023 10/19/2026 FHLB Bond 3130APNX9 11/18/2021 2,000,000 2,000,000 1.08% 1,781,520 1.30% 11/18/2023 11/18/2026 FHLB Bond 3130AQFL2 12/29/2021 2,000,000 2,000,000 1.08% 1,977,500 0.75% 12/29/2023 12/29/2023 FHLB Bond 3130AQHU0 1/19/2022 2,000,000 2,000,000 1.08% 1,819,160 1.74% 1/19/2024 1/19/2027 FHLB Bond 3130AQKT9 1/25/2022 2,000,000 2,000,000 1.08% 1,884,060 1.51% 1/25/2024 7/25/2025 FHLB Bond 3130AR4F5 3/10/2022 2,000,000 2,000,000 1.08% 1,911,100 3.48% 3/10/2024 3/10/2027 FHLMC Bond 3134GXUZ5 6/15/2022 2,000,000 2,000,000 1.08% 1,931,760 3.28% 12/15/2023 12/15/2025 FHLB Bond 3130ASPE3 7/28/2022 2,000,000 2,000,000 1.08% 1,922,000 4.30% 1/28/2024 7/28/2027 FNMA Bond 3135GACZ2 11/25/2022 2,000,000 2,000,000 1.08% 1,989,320 5.40% 11/25/2023 11/25/2024 FHLMC Bond 3134GY4B5 11/28/2022 2,000,000 2,000,000 1.08% 1,986,860 5.00% 11/15/2023 11/15/2023 FHLB Bond 3130AUFT6 1/27/2023 2,000,000 2,000,000 1.08% 1,987,680 5.43% 10/27/2023 1/27/2025
Investment Settlement Cost Book % of Market YTM Next Call Date of Type CUSIP Date Value Value Portfolio Value at Cost Date Maturity FHLB Bond 3130AUP32 1/27/2023 2,250,000 2,250,000 1.21% 2,218,568 5.98% 10/27/2023 1/27/2028 FHLMCMTN Bond 3134GYGB2 1/30/2023 2,000,000 2,000,000 1.08% 1,956,180 5.20% 10/26/2023 1/26/2028 FHLMCMTN Bond 3134GYG22 2/16/2023 3,000,000 3,000,000 1.62% 2,947,380 5.13% 11/16/2023 11/16/2026 FHLB Bond 3130AUTZ7 2/24/2023 2,000,000 2,000,000 1.08% 1,976,120 6.44% 2/24/2024 2/24/2028 FHLB Bond 3130AUZH0 3/6/2023 2,000,000 2,000,000 1.08% 1,990,240 6.33% 12/6/2023 3/6/2026 FHLB Bond 3130AUZZ0 3/13/2023 2,000,000 2,000,000 1.08% 1,987,020 6.23% 12/13/2023 3/13/2026 FHLB Bond 3130AV2Z4 3/15/2023 2,000,000 2,000,000 1.08% 1,997,800 5.35% 3/15/2024 3/15/2024 FHLB Bond 3130AV3P5 3/20/2023 2,000,000 2,000,000 1.08% 1,992,020 5.50% 3/20/2024 9/20/2024 FHLB Bond 3130AVK92 4/5/2023 3,000,000 3,000,000 1.62% 2,990,250 5.00% 10/5/2023 4/5/2024 FHLB Bond 3130AVL83 4/6/2023 2,000,000 2,000,000 1.08% 1,988,560 5.20% 10/7/2023 10/7/2024 FHLB Bond 3130AVQ96 4/17/2023 2,000,000 2,000,000 1.08% 1,994,500 5.15% 10/17/2023 4/17/2024 FHLB Bond 3130AVNT5 4/28/2023 1,000,000 1,000,000 0.54% 993,320 5.50% 10/25/2023 4/25/2025 FHLMCMTN Bond 3134GYQZ8 5/11/2023 3,000,000 3,000,000 1.62% 2,978,730 6.09% 2/11/2024 5/11/2026 FHLMCMTN Bond 3134GYSV5 5/25/2023 2,000,917 2,000,000 1.08% 1,994,760 5.50% 10/22/2023 06/18/2024 FHLB Bond 3130AWF62 6/13/2023 2,000,000 2,000,000 1.08% 1,989,840 5.50% 12/13/2023 12/13/2024 FHLB Bond 3130AWEB2 6/26/2023 2,000,000 2,000,000 1.08% 1,990,560 5.55% 3/26/2024 12/26/2024 FHLB Bond 3130AWHD5 6/29/2023 2,000,000 2,000,000 1.08% 1,980,880 5.90% 12/29/2023 6/29/2027 FHLMCMTN Bond 3134GYUY6 7/12/2023 2,000,000 2,000,000 1.08% 1,975,460 6.29% 10/12/2023 7/12/2028 FHLMCMTN Bond 3134GYWC2 7/26/2023 2,000,000 2,000,000 1.08% 1,976,180 6.00% 1/26/2024 7/26/2028 FHLMCMTN Bond 3134GYW57 7/27/2023 2,000,000 2,000,000 1.08% 1,988,560 6.00% 10/27/2023 7/27/2026 FHLMCMTN Bond 3134H1CJ0 9/28/2023 2,000,000 2,000,000 1.08% 1,999,580 6.25% 12/28/2023 9/28/2028 CD ‐ Ally Bank 02007GM83 3/30/2023 250,000 0.13% 250,000 249,458 5.15% 3/28/2024 3/28/2024 CD ‐ Western Alliance Bank 95763PLA7 3/30/2023 250,000 0.13% 250,000 249,808 5.30% 1/2/2024 1/2/2024 CD ‐ Zions Bancorp 98970LC43 3/31/2023 250,000 0.13% 250,000 249,278 5.40% 9/27/2024 9/27/2024 CD ‐ Pacific Western Bank 69506YYD5 4/5/2023 250,000 0.13% 250,000 250,123 5.65% 4/5/2024 4/5/2028 CD ‐ US Bank 90354KBR8 5/17/2023 250,000 0.13% 250,000 249,170 5.10% 5/16/2024 5/16/2024 Sub Total/Average $ 157,360,834 $ 157,462,364 84.97% 148,527,001 $ 2.66% US Bank Money Market $ 564,968 $ 0. 564,968 30% $ 5.24% 564,968 WFB Money Market $ 1,007,907 $ 1,007,907 0.54% $ 1,007,907 5.22% Total City Managed/Average $ 176,075,049 $ 176,176,579 85.41% 167,237,448 $ 2.95% Bond Reserve Accounts ‐ Held By Trustees $ 369,194 $ 0. 369,194 20% $ 369,194 Cash/Deposits $ 1,986,934 $ 1,986,934 1.07% $ 1,986,934 PARS and CALPERS CERBT Trust $ 6,787,404 $ 6,787,404 3.66% $ 7,115,306 GRAND TOTAL/AVERAGE $ 185,218,581 $ 185,320,112 100% 176,708,882 $
CITY OF MORGAN HILL CASH AND INVESTMENT REPORT
FOR THE MONTH OF SEPTEMBER 30, 2023
FOR THE FISCAL YEAR OF 2023-24
Invested Book Value % of Market
in Fund Yield End of Month Total Value
Investments
State Treasurer LAIF - City All Funds Pooled 3.53% $ 248,329 0.13% $ 244,561 California CLASS All Funds Pooled 5.48% 16,893,011 9.12% 16,893,011 Federal Issues All Funds Pooled 2.65% 141,300,845 76.25% 132,775,128 Treasury All Funds Pooled 2.27% 14,911,520 8.05% 14,504,038 Certificate of Deposits All Funds Pooled 5.32% 1,250,000 0.67% 1,247,835 Dreyfus Treas Cash Mgmt & WFB MMA All Funds Pooled 5.23% 1,572,876 0.85% 1,572,876 SUBTOTAL $ 176,176,579 95.07% 167,237,448 $
Bond Reserve Accounts - held by trustees
Zions Bank - Civic Center/Library Facility
Blackrock Liq Fund Debt Service 4.47% 76 0.00% 76
Zions Bank - MH Police Facility Lease Revenue Bonds
Blackrock Liq Fund Debt Service 4.47% 97 0.00% 97
BNY - RDA Bonds
Dreyfus Cash Mgmt 521 Agency Fund 0.00% 103,974 0.06% 103,974 Zions Bank - Madrone Bus Park Taxable/ Tax Exempt 2015
Blackrock Liquidity Temp Fund-2015 Agency Fund 4.47% 0.14% 265,047 265,047 SUBTOTAL 369,194 0.20% 369,194
Other Cash/Deposits
General Checking All Funds 1,940,834 1.05% 1,940,834
Workers' Comp Administrators Workers' Comp 30,000 0.02% 30,000 Petty Cash & Emergency Cash General Fund 16,100 0.01% 16,100 CALPERS CERBT - OPEB Trust 4,487,404 2.42% 4,673,007
PARS - PENSION Trust 2,300,000 1.24% 2,442,299
SUBTOTAL 8,774,338 4.73% 9,102,240
Total Cash and Investments $ 185,320,112 100.00% $ 176,708,882
CASH ACTIVITY SUMMARY
FY 2023-24
Unaudited
07/01/2023 Change in 9/30/2023
Fund Type Balance Cash Balance Balance
General Fund 32,352,753 $ (2,686,958) $ 29,665,795 $
Community Development 1,831,559 (89,949) 1,741,611
Housing Successor Agency/ CDBG 4,202,736 (260,541) 3,942,196 Water - Operations 2,585,170 514,068 3,099,238
Water Other 23,673,105 1,758,660 25,431,765
Sewer - Operations 907,428 1,488,642 2,396,070
Sewer Other 44,135,046 (1,213,358) 42,921,689
Other Special Revenue 8,827,861 224,046 9,051,907
Streets and Capital Projects (except RDA) 40,486,238 1,882,011 42,368,249 Debt Service 342,534 169,896 512,430
Internal Service 25,139,787 (1,897,279) 23,242,508
Agency Funds (assessment dists./refundable deposits) 8,515,969 (7,569,314) 946,655 Total $ 193,000,187 $ (7,680,075) $ 185,320,112
Note: See Investment Porfolio Detail for maturities of "Investments." Market values are obtained from the City's investment brokers' monthly reports.
I certify that information on the investment report has been reconciled to the general ledger and bank statements and that there are sufficient funds to meet the expenditure requirements of the City for the next six months. The portfolio is in compliance with the City of Morgan Hill Investment Policy and all State laws and regulations.
Prepared by: ____________________________________ Approved by:
Gina Nazareno, Senior Accountant
Reviewed by: ____________________________________
Dat Nguyen, Finance Director Caitlin Jachimowicz, Treasurer
City of Morgan Hill
Year to Date Revenues - Fiscal Year 2023-24
For the Month Ended September 30, 2023
25% of Year Complete
CURRENT INCR (DECR)
ADOPTED AMENDED YTD % PRIOR FROM PRIOR %
BUDGET BUDGET ACTUAL OF BUDGET YTD YTD CHANGE
010 GENERAL FUND
TAXES
Property Tax - Secured/Unsecured $ 15,245,000 15,745,000 $ n/a - $ n/a - Property Tax - RPTTF Residual Distribution 2,527,000 2,527,000 n/a - - n/a - Property Tax - Supplemental Roll 200,000 200,000 34,018 17% 48,929 (14,910) -30% Sales Tax 12,218,967 12,218,967 1,040,466 9% 987,706 52,760 5% Public Safety Sales Tax 455,000 455,000 34,159 8% 35,368 (1,209) -3% Transient Occupancy Taxes 2,800,000 2,800,000 495,598 18% 445,985 49,613 11% Franchise (Refuse ,Cable ,PG&E) 2,873,800 2,983,800 n/a - - n/a - Property Transfer Tax 510,000 510,000 83,925 16% 87,407 (3,482) -4% TOTAL TAXES 36,829,767 37,439,767 1,688,167 5% 1,605,395 82,773 5%
LICENSES/PERMITS
Business License 170,000 200,000 147,518 74% 116,399 31,119 27% Other Permits 53,975 53,975 21% 9,828 11,307 1,479 15%
TOTAL LICENSES/PERMITS 223,975 253,975 158,826 63% 126,227 32,599 26%
FINES AND PENALTIES
Parking Enforcement 3,019 3,019 2,030 67% 808 1,222 151% Bails & Fines 47,875 47,875 13,746 29% 2,768 10,979 397% Administrative Citations 20,000 20,000 11,033 55% - 11,033 0% TOTAL FINES AND PENALTIES 70,894 70,894 26,809 38% 3,576 23,234 650%
OTHER AGENCIES
Motor Vehicle in-Lieu 40,800 40,800 n/a - - n/a -
Other Revenue - Other Agencies 971,089 1,011,233 18% 97,076 182,446 85,370 88% TOTAL OTHER AGENCIES 1,011,889 1,052,033 182,446 17% 97,076 85,370 88%
CHARGES CURRENT SERVICES
Police False Alarm Charge 33,248 33,248 5,770 17% 6,192 (422) -7% Business License Application Review 53,000 53,000 53,593 101% 9,955 43,638 438% Membership Services & Rec Programs 5,656,265 5,656,265 1,687,617 30% 1,431,909 255,708 18% Facility Rentals 1,203,269 1,203,269 420,515 35% 347,948 72,566 21% Community Services 152,498 152,498 7,546 5% 6,623 14% 923 General Administration Overhead 1,822,869 1,822,869 453,288 25% 443,852 9,436 2% Other Charges Current Services 1,084,930 1,084,930 16% 218,463 173,248 (45,216) -21% TOTAL CURRENT SERVICES 10,006,079 10,006,079 2,801,577 28% 2,464,942 336,634 14%
OTHER REVENUE
Use of money/property 583,850 683,850 362,915 53% 105,264 257,651 245% Other Revenues 234,168 614,168 10% 32,865 63,072 30,207 92% TOTAL OTHER REVENUE 818,018 1,298,018 425,987 33% 138,129 287,858 208%
TRANSFERS IN
One Time Transfer 180,000 180,000 45,000 25% 45,000 0% - Public Safety Facilities Fund 50,000 50,000 12,500 25% 12,500 0% - Supplemental Law Enforcement Fund 100,000 100,000 n/a - - n/a - Countywide Solid Waste 373,000 468,680 93,250 20% 88,750 4,500 5% Streets 949,760 949,760 140,658 15% 137,471 3,187 2%
Park Maintenance 650,000 650,000 162,500 25% 162,501 0% (1) Sewer Operations 394,000 394,000 98,500 25% 93,750 4,750 5% Water Operations 394,000 394,000 98,500 25% 93,750 4,750 5% Open Space 81,100 81,100 20,275 25% 20,275 n/a -
Park Development 75,000 75,000 18,750 25% - 18,750 n/a
TOTAL TRANSFERS IN 3,246,860 3,342,540 689,933 21% 672,747 17,186 3% TOTAL GENERAL FUND 52,207,482 53,463,306 5,973,745 11% 5,108,091 865,654 17%
SPECIAL REVENUE FUNDS
202 STREET MAINTENANCE
Gas Tax 2105 - 2107.5 954,952 954,952 139,957 15% 136,969 2,987 2% Interest / Other Revenue/Other Charges 7 78 8 701 898% 502 199 40% 202 STREET MAINTENANCE 955,030 955,030 140,658 15% 137,471 3,186 2%
City of Morgan Hill
Year to Date Revenues - Fiscal Year 2023-24
For the Month Ended September 30, 2023
25% of Year Complete
CURRENT INCR (DECR)
ADOPTED AMENDED YTD % PRIOR FROM PRIOR %
BUDGET BUDGET ACTUAL OF BUDGET YTD YTD CHANGE
SPECIAL REVENUE FUNDS
205 SUPPLEMENTAL LAW ENFORCEMENT FUND
Interest Income 1,905 1,905 1,974 104% 509 1,465 288%
Police Grant/SLEF/JAG 100,000 100,000 86,159 86% - 86,159 n/a 205 SUPPLEMENTAL LAW ENFORCEMENT FUND 101,905 101,905 88,133 86% 509 87,624 17227% 206 DEVELOPMENT SERVICES
Building Fees 3,455,600 3,495,600 711,219 20% 1,207,096 (495,877) -41% Planning Fees 1,645,444 1,645,444 189,244 12% 167,518 21,726 13% Engineering Fees 1,190,852 1,190,852 170,406 14% 137,591 32,815 24% Other Revenue/Current Charges - - n/a 69,641 34,600 (35,042) -50% 206 DEVELOPMENT SERVICES 6,291,896 6,331,896 1,105,469 17% 1,581,846 (476,377) -30% 207 LONG RANGE PLANNING 1,013,392 1,013,392 183,338 18% 229,188 (45,850) -20% 215 and 216 HCD BLOCK GRANT
Interest Income/Other Revenue 325 325 125% 133 405 272 204% 215 and 216 HCD BLOCK GRANT 325 325 405 125% 133 272 204% 225 ASSET SEIZURE 1,298 1,298 622 48% 221 400 181%
229 LIGHTING AND LANDSCAPE 200,028 200,028 1,131 1% 349 782 224% 230 COMMUNITY FACILITIES DISTRICT 37,914 37,914 896 2% 259 637 246% 232 ENVIRONMENTAL PROGRAMS 590,223 590,223 142,526 24% 135,044 7,483 6% 234 MOBILE HOME PARK RENT STAB. 584 584 463 79% 142 321 227% 236 HOUSING MITIGATION 4,456,924 4,456,924 277,041 6% 208,723 68,318 33% 240 EMPLOYEE ASSISTANCE 20,889 20,889 1,973 9% 1,857 117 6% 246 COUNTYWIDE SOLID WASTE 1,645,138 1,944,000 526,793 27% 401,901 124,892 31% 247 ENVIRONMENT REMEDIATION 1,358 1,358 853 63% 282 572 203% 255 HOUSING SUCCESSOR AGENCY 239,202 239,202 82,066 34% 194,201 (112,135) -58% TOTAL SPECIAL REVENUE FUNDS 15,556,107 15,894,969 2,552,367 16% 2,892,126 (339,758) -12%
CAPITAL PROJECTS FUNDS
301 PARK DEVELOPMENT 1,673,505 1,673,505 60,934 4% 1,160,857 (1,099,923) -95% 302 PARK MAINTENANCE 83,038 83,038 25,107 30% 6,610 18,497 280% 303 LOCAL DRAINAGE 447,897 447,897 181,376 40% 24,570 156,806 638% 304 LOCAL DRAINAGE/NON AB1600 30,901 30,901 8,599 28% 3,660 4,939 135% 306 AGRICULTURE & OPEN SPACE PRESERVATION 4,036 4,036 13,728 340% 22,863 (9,135) -40% 308 STREET CIP 3,926,656 3,926,656 549,352 14% 508,427 40,925 8% 309 TRAFFIC IMPACT 1,276,925 1,276,925 104,865 8% 36,224 68,641 189% 315 PUBLIC SAFETY FACILITIES IMPACT 801,703 801,703 69,073 9% 31,282 37,791 121% 346 PUBLIC FACILITIES NON-AB1600 822,102 822,102 117,012 14% 6,123 110,888 1811% 347 PUBLIC FACILITIES IMPACT 176,602 176,602 20,156 11% 8,817 11,339 129% 348 LIBRARY 657,457 657,457 59,888 9% 28,700 31,188 109% 350 UNDERGROUNDING 22,520 22,520 10,408 46% 3,423 6,986 204% 355 SCHOOL PEDESTRIAN/TRAFFIC SAFETY 492,717 492,717 555 0% - 555 n/a 360 COMMUNITY/REC IMPACT FUND 1,142,697 1,142,697 100,962 9% 50,283 50,679 101% 375 QUIMBY FEE 610,860 610,860 763,829 125% 1,590 762,239 47926% TOTAL CAPITAL PROJECTS FUNDS 12,169,616 12,169,616 2,085,843 17% 1,893,430 192,413 10%
DEBT SERVICE FUNDS
420 CIVIC CENTER DEBT 290,850 290,850 73,932 25% 73,483 448 1% 441 POLICE FACILITY BOND 387,792 387,792 97,793 25% 97,214 579 1% TOTAL DEBT SERVICE FUNDS 678,642 678,642 171,724 25% 170,697 1,028 1%
City of Morgan Hill
Year to Date Revenues - Fiscal Year 2023-24
For the Month Ended September 30, 2023
25% of Year Complete
CURRENT INCR (DECR)
ADOPTED AMENDED YTD % PRIOR FROM PRIOR %
BUDGET BUDGET ACTUAL OF BUDGET YTD YTD CHANGE
ENTERPRISE FUNDS
640 WASTEWATER OPERATION
Sewer Service Fees 15,200,000 15,200,000 2,514,086 17% 2,513,668 418 0% Interest Income/Transfers 39,704 39,704 11,352 29% 6,399 4,953 77% Other Revenue/Current Charges 329,403 329,403 53,549 16% 52,264 1,286 2% 640 WASTEWATER OPERATION 15,569,107 15,569,107 2,578,987 17% 2,572,330 6,657 0% 641 WASTEWATER EXPANSION
Interest Income 40,173 40,173 137,702 343% 42,766 94,936 222% Development Impact Fee 4,388,986 4,388,986 368,355 8% 216,973 151,382 70% Transfer From-643 (Sewer Replacement) - - - n/a 5,453,912 (5,453,912) -100% 641 WASTEWATER EXPANSION 4,429,159 4,429,159 506,057 11% 5,713,651 (5,207,595) -91% 642 WASTEWATER RATE STABILIZATION 192,000 192,000 66,015 34% 18,305 47,710 261% 643 WASTEWATER CAPITAL PROJECT 5,204,512 5,204,512 1,378,161 26% 1,519,854 (141,694) -9% TOTAL SEWER FUNDS 25,394,778 25,394,778 4,529,220 18% 9,824,141 (5,294,921) -54% 650 WATER OPERATION
Water Sales 18,500,000 18,500,000 3,525,663 19% 3,261,484 264,180 8% Meter Install & Service 50,000 50,000 46,080 92% 2,384 43,696 1833% Transfers-In / Interest Income 606,318 606,318 167,023 28% 145,504 21,519 15% Other Revenue/Current Charges 630,464 630,464 154,021 24% 151,930 2,090 1% 650 WATER OPERATION 19,786,782 19,786,782 3,892,787 20% 3,561,302 331,485 9% 651 WATER EXPANSION
Interest Income/Other Revenue/Transfer 28,855 28,855 18,939 66% 6,120 12,819 209% Development Impact Fee 1,720,216 1,720,216 89,980 5% 55,519 34,461 62% 651 WATER EXPANSION 1 1,749,071 ,749,071 108,919 6% 61,639 47,280 77% 652 WATER RATE STABILIZATION - - 20,377 n/a 6,699 13,678 204% 653 WATER CAPITAL PROJECT 6,948,348 6,948,348 1,814,031 26% 1,285,839 528,192 41% TOTAL WATER FUNDS 28,484,201 28,484,201 5,836,114 20% 4,915,479 920,635 19% TOTAL ENTERPRISE FUNDS 53,878,979 53,878,979 10,365,334 19% 14,739,620 (4,374,286) -30%
INTERNAL SERVICE FUNDS
730 INFORMATION SYSTEMS 2,493,922 2,493,922 627,505 25% 560,318 67,187 12% 740 BUILDING MAINTENANCE 1,675,215 1,675,215 419,183 25% 413,937 5,247 1% 741 BUILDING REPLACEMENT 859,973 859,973 234,271 27% 210,240 24,031 11% 745 CIP ADMINISTRATION 2,059,092 2,059,092 - n/a 494,327 (494,327) -100% 760 UNEMPLOYMENT INSURANCE 2,940 2,940 1,777 60% 626 1,151 184% 770 WORKERS COMPENSATION 997,442 997,442 214,891 22% 197,508 17,383 9% 790 EQUIPMENT REPLACEMENT 1,165,990 1,165,990 325,378 28% 276,976 48,403 17% 791EMPLOYEE BENEFITS 849,796 849,796 213,101 25% 202,224 10,877 5% 795 GENERAL LIABILITY INSURANCE 2,103,483 2,103,483 528,599 25% 495,459 33,141 7% TOTAL INTERNAL SERVICE FUNDS 12,207,853 12,207,853 2,564,706 21% 2,851,613 (286,907) -10% TOTAL FOR ALL FUNDS 146,698,679 $ 148,293,365 $ 23,713,719 $ 16% $ 27,655,578 $ (3,941,858) -14%
City of Morgan Hill
Year to Date Expenses - Fiscal Year 2023-24
For the Month Ended September 30, 2023
25% of Year Complete
CURRENT
FUND MONTH PERCENT OF
NO. FUND/ACTIVITY ACTUAL AMENDED YTD OUTSTANDING TOTAL TOTAL TO PRIOR
EXPENSES BUDGET EXPENSES ENCUMBRANCE ALLOCATED BUDGET YTD 010 GENERAL FUND
I. ADMINISTRATION
CITY COUNCIL 14,149 $ 435,652 $ 65,415 $ - $ 65,415 $ 15% 120,701 $ CITY ATTORNEY 87,066 1,081,241 194,261 32,256 226,517 21% 198,435 CITY MANAGER 67,628 886,041 148,329 42,935 191,264 22% 133,766 HUMAN RESOURCES 75,415 898,203 184,196 - 184,196 21% 194,399
COUNCIL SVCS & RECORDS MGMT
Council Svcs & Records Mgmt 42,111 628,281 128,781 - 128,781 20% 131,709 Elections 2,829 37,728 6,808 - 6,808 18% 1,266
COUNCIL SVCS & RECORDS MGMT 44,940 666,009 135,589 135,589 - 20% 132,975 FINANCE 187,975 2,498,016 433,302 569,142 1,002,443 40% 420,663 TOTAL ADMINISTRATION 477,173 6,465,162 1,161,091 644,333 1,805,424 28% 1,200,939 II. COMMUNITY SERVICES
Membership Services & Rec. Programs 453,118 7,200,406 1,733,996 1,348,812 3,082,808 43% 1,562,700 Recreation Facility Rentals 50,119 573,524 125,097 49,043 174,140 30% 117,000 Innovative Transit 60,202 850,612 115,977 671,157 787,134 93% 50,204 Community Services 41,984 672,192 113,047 80,371 193,418 29% 122,518 Park Maintenance 103,749 1,560,828 224,002 77,917 301,919 19% 239,039 Environmental Services 24,132 705,264 58,170 4,689 62,859 9% 54,948 Countywide Solid Waste Program 36,150 472,354 86,665 - 86,665 18% 80,641 Street Maintenance 194,629 3,019,357 443,711 232,651 676,363 22% 455,867 Downtown Maintenance 18,351 345,237 57,544 34,523 92,066 27% 42,283 Cable Television 7,143 74,940 21,108 - 21,108 28% 4,417 COMMUNITY SERVICES 989,576 15,474,714 2,979,318 2,499,162 5,478,480 35% 2,729,618 CODE COMPLIANCE 19,294 340,153 41,758 - 41,758 12% 41,919 INFRASTRUCTURE PLANNING & CONGESTION MGMT 414,110 30,361 71,293 - 71,293 17% 71,764 ECONOMIC DEVELOPMENT PROGRAMS 110,889 970,034 230,191 46,925 277,116 29% 201,355 TOTAL COMMUNITY SERVICES 1,150,120 17,199,011 3,322,559 2,546,088 5,868,647 34% 3,044,657 III. PUBLIC SAFETY
POLICE
PD Administration 162,716 1,735,700 340,090 53,771 393,861 23% 433,195 Field Operations 1,112,024 11,733,613 2,570,153 45,273 2,615,426 22% 2,181,785 Support Services 234,568 3,585,524 695,536 583,800 1,279,336 36% 683,922 Emergency Services/Haz Mat 20,294 222,865 47,570 - 47,570 21% 46,129 Special Operations 388,356 4,098,765 894,526 - 894,526 22% 957,778 Dispatch Services 182,859 2,201,937 440,378 - 440,378 20% 464,763 POLICE 2,100,818 23,578,404 4,988,253 682,844 5,671,096 24% 4,767,572 FIRE 685,617 9,067,905 2,344,964 53,960 2,398,924 26% 2,168,638 TOTAL PUBLIC SAFETY 2,786,435 32,646,309 7,333,216 736,803 8,070,020 25% 6,936,210 IV. TRANSFERS
Other 108,647 1,303,767 325,942 - 325,942 25% 321,829
TOTAL TRANSFERS 108,647 1,303,767 325,942 325,942 - 25% 321,829 TOTAL GENERAL FUND 4,522,375 57,614,249 12,142,808 3,927,224 16,070,032 28% 11,503,635
City of Morgan Hill
Year to Date Expenses - Fiscal Year 2023-24
For the Month Ended September 30, 2023
25% of Year Complete
CURRENT
FUND MONTH PERCENT OF
NO. FUND/ACTIVITY ACTUAL AMENDED YTD OUTSTANDING TOTAL TOTAL TO PRIOR
EXPENSES BUDGET EXPENSES ENCUMBRANCE ALLOCATED BUDGET YTD
SPECIAL REVENUE FUNDS
202 STREET MAINTENANCE 433 954,952 141,956 - 141,956 15% 139,001 205 PUBLIC SAFETY/SUPP.LAW 107 101,289 322 - 322 0% 313 206 DEVELOPMENT SERVICES FUND
Planning 160,984 1,840,044 383,080 430 383,510 21% 366,625 Building 255,252 2,563,441 558,896 105,196 664,093 26% 487,762 Engineering 158,909 1,974,680 377,725 14,184 391,909 20% 357,663 206 DEVELOPMENT SERVICES FUND 575,145 6,378,165 1,319,701 119,810 1,439,512 23% 1,212,050 207 LONG RANGE PLANNING 81,077 1,581,133 205,113 19,318 224,431 14% 192,752 215/216 CDBG 7 83 21 - 25% 21 20
225 ASSET SEIZURE 65 782 196 - 25% 196 190
229 LIGHTING AND LANDSCAPE 22,950 234,554 38,010 10,455 48,465 21% 33,539 230 COMMUNITY FACILITIES DISTRICT 3,543 41,249 8,125 - 8,125 20% 7,064 232 ENVIRONMENT PROGRAMS 33,562 561,968 86,144 9,473 95,616 17% 104,499 234 MOBILE HOME PARK 76 907 227 - 25% 227 220
236 HOUSING MITIGATION 89,395 941,126 181,937 150,279 332,216 35% 205,100 240 EMPLOYEE ASSISTANCE 2,079 20,946 2,236 - 2,236 11% 4,161 246 COUNTYWIDE SOLID WASTE PROGRAM 31,083 2,078,493 111,250 906,901 1,018,151 49% 212,425 255 HOUSING SUCCESSOR AGENCY 149,385 1,172,110 370,217 320,833 691,050 59% 314,467 TOTAL SPECIAL REVENUE FUNDS 988,907 14,067,757 2,465,454 1,537,070 4,002,524 28% 2,425,799
CAPITAL PROJECT FUNDS
301 PARK DEVELOPMENT 65,453 701,361 122,451 309,829 432,280 62% 531,228 302 PARK MAINTENANCE 54,274 650,000 162,718 - 162,718 25% 163,550 303 LOCAL DRAINAGE 174,865 13,816,423 216,080 3,809,447 4,025,528 29% 620,618 304 LOCAL DRAIN. NON-AB1600 251 310,489 754 47,904 48,658 16% 8,239 306 AGRICULTURE & OPEN SPACE PRESERVATIO 97,600 8,133 24,400 - 24,400 25% 31,464 308 STREET CIP 10,704 7,919,070 28,371 4,342,825 4,371,196 55% 3,245,564 309 TRAFFIC IMPACT 124,130 5,197,546 151,685 3,768,755 3,920,440 75% 1,432,033 315 PUBLIC SAFETY FACILITIES IMPACT 180,262 11,682,382 237,066 9,289,353 9,526,419 82% 164,647 346 PUBLIC FAC.NON AB1600 9,255 1,321,382 10,018 54,136 64,154 5% 10,511 347 PUBLIC FACILITIES IMPACT 22,440 1,279,278 47,319 75,000 122,319 10% 7,288 348 LIBRARY IMPACT 18,529 222,349 55,587 - 55,587 25% 55,729 350 UNDERGROUNDING 98 1,175 294 - 294 25% 285
355 SCHOOL PEDESTRIAN & TRAFFIC SAFETY 1,711 563,063 5,132 13,534 18,666 3% 5,092 360 COMM/REC CENTER IMPACT 31,869 1,946,259 90,913 52,749 143,662 7% 4,874 375 QUIMBY FEE 7,947 537,000 15,184 - 15,184 3% 66,383
TOTAL CAPITAL PROJECTS FUNDS 709,921 46,245,377 1,167,973 21,763,533 22,931,506 50% 6,347,504
DEBT SERVICE FUNDS
420 CIVIC CENTER DEBT 270 290,852 810 - 810 0% 787
441 POLICE FACILITY BOND DEBT 358 387,792 1,073 - 1,073 0% 1,041 TOTAL DEBT SERVICE FUNDS 628 678,644 1,883 - 1,883 0% 1,828
City of Morgan Hill
Year to Date Expenses - Fiscal Year 2023-24
For the Month Ended September 30, 2023
25% of Year Complete
CURRENT
FUND MONTH PERCENT OF
NO. FUND/ACTIVITY ACTUAL AMENDED YTD OUTSTANDING TOTAL TOTAL TO PRIOR
EXPENSES BUDGET EXPENSES ENCUMBRANCE ALLOCATED BUDGET YTD
ENTERPRISE FUNDS
SEWER
640 WASTEWATER OPERATIONS 814,947 15,463,024 2,272,886 48,286 2,321,172 15% 2,586,389 641 WASTEWATER CAPITAL EXPANSION 183,558 7,519,551 321,242 453,227 774,469 10% 133,583 642 WASTEWATER RATE STABILIZATION 156 1,872 468 - 468 25% 454 643 WASTEWATER CAPITAL PROJECTS 881,443 14,060,425 966,755 3,121,247 4,088,001 29% 7,765,979 TOTAL SEWER FUND(S) 1,880,104 37,044,872 3,561,351 3,622,759 7,184,111 19% 10,486,406 WATER
Water Operations 1,246,310 18,304,142 3,768,668 742,768 4,511,436 25% 3,180,327 Utility Billing 83,323 1,192,638 204,923 41,860 246,783 21% 179,376 Water Conservation 27,639 644,730 62,206 - 62,206 10% 44,491 650 WATER OPERATIONS 1,357,273 20,141,510 4,035,797 784,628 4,820,425 24% 3,404,194 651 WATER CAPITAL EXPANSION 65,759 2,314,032 181,321 18,077 199,398 9% 180,979 652 WATER RATE STABILIZATION 117 1,403 351 - 25% 351 340 653 WATER-CAPITAL PROJECTS 38,188 12,329,792 40,684 1,428,546 1,469,230 12% 26,405 TOTAL WATER FUND(S) 1,461,337 34,786,737 4,258,153 2,231,251 6,489,404 19% 3,611,919 TOTAL ENTERPRISE FUNDS 3,341,441 71,831,609 7,819,504 5,854,011 13,673,515 19% 14,098,325
INTERNAL SERVICE FUNDS
730 INFORMATION SYSTEMS 186,039 2,491,931 646,447 20,653 667,099 27% 359,485 740 BUILDING MAINTENANCE 117,232 1,599,348 295,625 100,131 395,756 25% 287,737 741 BUILDING REPLACEMENT - 900,000 31,730 12,035 43,765 5% 65,914 745 CIP ADMINISTRATION 159,682 2,061,046 388,245 2,037 390,282 19% 402,530 760 UNEMPLOYMENT 11,826 15,000 11,826 - 11,826 79% -
770 WORKERS COMPENSATION 1,141 1,048,265 589,575 - 589,575 56% 523,601 790 EQUIPMENT REPLACEMENT 48,342 745,240 77,219 144,002 221,222 30% 165,549 791 EMPLOYEE BENEFITS FUND 15,206 750,000 57,865 - 57,865 8% 150,782 795 GEN. LIABILITY INSURANCE 526,939 2,551,193 2,288,597 2,288,597 - 90% 1,650,547 TOTAL INTERNAL SERVICE FUNDS 1,066,408 12,162,023 4,387,129 278,858 4,665,988 38% 3,606,146 REPORT TOTAL $ 10,629,679 $ 202,599,659 $ 27,984,752 $ 33,360,695 $ 61,345,447 30% 37,983,236 $
City of Morgan Hill
Fund Activity Summary - Fiscal Year 2022-23
For the Month Ended September 30, 2023
25% of Year Complete
Unaudited Beg Year to-Date
Fund Fund Balance YTD % of YTD % of Deficit or
No. Fund Description 07-01-23 Actual Budget Actual Budget Carryover Reserved1 Unreserved 010 GENERAL FUND 32,349,777 $ 5, $ 11% 12, 973,745 $ 21% (6, 142,808 $ 169,063) $ 3,927,224 $ 22,253,490 TOTAL GENERAL FUND $ 32,349,777 $ 5,973,745 11% $ 12,142,808 21% $ (6,169,063) $ 3,927,224 $ 22,253,490 202 STREET MAINTENANCE 63,915 $ 140,658 15% $ 141,956 22% $ (1,298) $ - $ 62,617 205 PUBLIC SAFETY/SUPPL. LAW 319,801 88,133 86% 19% 87,811 322 - 407,612 206 DEVELOPMENT SERVICES (385,369) 1,105,469 17% 1, 319,701 21% ( 214,232) 119,810 (719,412) 207 LONG RANGE PLANNING 1,380,255 183,338 18% 205,113 13% (21, 774) 19,318 1,339,163 215 / 216 CDBG 30,752 405 125% 25% 21 384 - 31,136
225 ASSET SEIZURE 102,473 48% 622 25% 196 426 - 102,899 229 LIGHTING AND LANDSCAPE 196,914 1,131 1% 38,010 16% (36, 879) 10,455 149,581 230 COMMUNITY FACILITIES DISTRICT 150,622 896 2% 8,125 20% (7,229) - 143,393 232 ENVIRONMENTAL PROGRAMS 328,087 142,526 24% 86,144 15% 56,382 9,473 374,997 234 MOBILE HOME PK RENT STAB. 75,847 79% 463 25% 227 236 - 76,083 235 SENIOR HOUSING 236,079 n/a - n/a - - - 236,079
236 HOUSING MITIGATION 6,269,527 277,041 6% 181,937 19% 95,104 150,279 6,214,351 240 EMPLOYEE ASSISTANCE 60,825 1,973 9% 2,236 11% (263) - 60,562 246 COUNTYWIDE SOLID WASTE 276,975 526,793 63% 111,250 5% 415,543 906,901 (214,383) 247 ENVIRONMENT REMEDIATION 141,274 63% 853 n/a - 853 - 142,127 255 HOUSING SUCCESSOR AGENCY 2,036,214 82,066 34% 370,217 32% ( 288,151) 320,833 1,427,230 TOTAL SPECIAL REVENUE FUNDS $ 11,284,191 $ 2,552,367 16% $ 2,465,454 18% $ 86,913 $ 1,537,070 $ 9,834,034 301 PARK DEV. IMPACT FUND $ 1,523,130 $ 60,934 4% $ 122,451 17% (61, $ 517) $ 309,829 $ 1,151,784 302 PARK MAINTENANCE 2,500,256 25,107 30% 162,718 25% ( 137,611) - 2,362,645 303 LOCAL DRAINAGE 11,898,616 181,376 40% 216,080 2% (34, 705) 3,809,447 8,054,464 304 LOCAL DRAINAGE/NON-AB1600 1,350,934 8,599 28% 754 0% 7,845 47,904 1,310,874 306 AG. AND OPEN SPACE PRESERVATION 541,375 13,728 340% 24,400 25% (10, 672) - 530,703 308 STREET CIP 4,074,276 549,352 14% 28,371 0% 520,981 4,342,825 252,432 309 TRAFFIC IMPACT FUND 3,613,394 104,865 8% 151,685 3% (46, 820) 3,768,755 (202,181) 315 PUBLIC SAFETY FACILITIES IMPACT 3,008,990 69,073 9% 237,066 2% ( 167,992) 9,289,353 (6,448,356) 346 PUBLIC FACILITIES NON-AB1600 2,970,080 117,012 14% 10,018 1% 106,993 54,136 3,022,937 347 PUBLIC FACILITIES IMPACT FUND 1,110,398 20,156 11% 47,319 4% (27, 164) 75,000 1,008,234 348 LIBRARY IMPACT FUND 1,414,873 59,888 9% 55,587 25% 4,301 - 1,419,174 350 UNDERGROUNDING 1,625,772 10,408 46% 25% 10,115 294 - 1,635,887 355 SCHOOL PEDESTRIAN/TRAFFIC SFTY 92,051 555 0% 5,132 1% (4,577) 13,534 73,940 360 COMM/REC CTR IMPACT FUND 985,744 100,962 9% 90,913 5% 10,048 52,749 943,044 375 QUIMBY FEE 1,713,260 763,829 125% 15,184 3% 748,645 - 2,461,905 TOTAL CAPITAL PROJECT FUNDS $ 38,423,149 $ 2,085,843 17% $ 1,167,973 3% $ 917,870 $ 21,763,533 $ 17,577,486 420 CIVIC CENTER DEBT $ 175,833 $ 73,932 25% $ 810 0% 73,121 $ $ 76 $ 248,878 441 POLICE FACILITY BOND DEBT 166,944 97,793 25% 1,073 0% 96,720 97 263,567 TOTAL DEBT SERVICE FUNDS $ 342,777 $ 171,724 25% $ 1,883 0% $ 169,842 $ 173 $ 512,445 640 WASTEWATER OPERATIONS $ 3,926,699 $ 2,578,987 17% 2, $ 272,886 15% $ 306,101 48,286 4,184,514 641 WASTEWATER IMPACT FUND* 23,490,274 506,057 11% 321,242 4% 184,814 453,227 23,221,862 642 WASTEWATER RATE STABILIZATION 2,819,330 66,015 34% 25% 65,547 468 - 2,884,877 643 WASTEWATER CAPITAL PROJECTS 14,669,589 1,378,161 26% 966,755 7% 411,406 3,121,247 11,959,748 650 WATER OPERATIONS 6,377,993 3,892,787 20% 4, 035,797 20% ( 143,011) 784,628 5,450,355 651 WATER IMPACT FUND* 2,990,382 108,919 6% 181,321 8% (72, 402) 18,077 2,899,902 652 WATER RATE STABILIZATION 3,204,315 20,377 n/a 25% 20,027 351 - 3,224,342 653 WATER -CAPITAL PROJECT 13,878,926 1,814,031 26% 40,684 0% 1, 773,347 1,428,546 14,223,727 TOTAL ENTERPRISE FUNDS $ 71,357,508 $ 10,365,334 19% $ 7,819,504 11% $ 2,545,830 $ 5,854,011 $ 68,049,327 730 INFORMATION SERVICES $ 781,600 $ 627,505 25% $ 646,447 26% (18, $ 941) $ 20,653 $ 742,006 740 BUILDING MAINTENANCE 12,079 419,183 25% 295,625 18% 123,559 100,131 35,507 741 BUILDING REPLACEMENT 4,366,561 234,271 27% 31,730 4% 202,541 12,035 4,557,067 745 CIP ENGINEERING 7,312 n/a - 388,245 19% ( 388,245) 2,037 (382,970) 760 UNEMPLOYMENT 303,072 1,777 60% 11,826 79% (10, 049) - 293,023 770 WORKERS COMPENSATION 2,175,310 214,891 22% 589,575 56% ( 374,684) 30,000 1,770,626 790 EQUIPMENT REPLACEMENT 7,789,880 325,378 28% 77,219 10% 248,159 144,002 7,894,037 791 EMPLOYEE BENEFITS FUNDS (83,140) 213,101 25% 57,865 8% 155,236 - 72,096 795 GEN. LIABILITY INSURANCE 1,241,308 528,599 25% 2, 288,597 90% (1, 759,998) - (518,690) TOTAL INTERNAL SERVICE FUNDS $ 16,593,982 $ 2,564,706 21% $ 4,387,129 36% $ (1,822,423) $ 308,858 $ 14,462,700 Revenues Expenses Preliminary Ending Fund Balance
City of Morgan Hill
Fund Activity Summary - Fiscal Year 2022-23
For the Month Ended September 30, 2023
25% of Year Complete
Unaudited Beg Year to-Date
Fund Fund Balance YTD % of YTD % of Deficit or
No. Fund Description 07-01-23 Actual Budget Actual Budget Carryover Reserved1 Unreserved Revenues Expenses Preliminary Ending Fund Balance
SUMMARY BY FUND TYPE
GENERAL FUND GROUP 32,349,777 $ 5, $ 11% 12, 973,745 $ 21% (6, 142,808 $ 169,063) $ 3,927,224 $ 22,253,490 SPECIAL REVENUE GROUP 11,284,191 2, 16% 2, 552,367 18% 86,913 465,454 1,537,070 9,834,034 DEBT SERVICE GROUP 342,777 25% 1,883 171,724 0% 169,842 173 512,445 CAPITAL PROJECTS GROUP 38,423,149 2, 17% 1, 085,843 3% 167,973 917,870 21,763,533 17,577,486 ENTERPRISE GROUP 71,357,508 10, 19% 7, 365,334 11% 2, 819,504 545,830 5,854,011 68,049,327 INTERNAL SERVICE GROUP 16,593,982 2, 21% 4, 564,706 36% (1, 387,129 822,423) 308,858 14,462,700 TOTAL ALL GROUPS 170,351,384 $ 23, $ 16% 27, 713,719 $ 14% (4, 984,752 $ 271,033) $ 33,390,868 $ 132,689,483 For Enterprise Funds: Unrestricted fund balance = Fund balance net of fixed assets and long-term liabilities. *Unreserved fund balance includes bond proceeds reserved for projects listed in bond documents. 1 Amount restricted for encumbrances, fixed asset replacement, long-term receivables, and bond reserves.
City Manager's Signature Authority
Contracts and Agreements Between $25,000 to $60,000 Entered From 8/10/2023 to 10/18/2023 Vendor Name Description of Service Begin Date End Date Department Amount Circle Up Education DEI in Morgan Hill 8/27/2023 6/30/2024 DS $49,000 CivicPlus SeeClickFix Annual Licencing 10/3/2023 10/3/2024 E&U $30,987 Outfront Media LLC
Countywide Solid Waste VTA Bus
Taillight Outreach Project 10/17/2023 7/31/2024 CS $25,840 Pro Sports Floors, Inc. CRC and CCC hardwood floor services 8/24/2023 6/30/2025 CS $30,596 JT Electric Inc. On-call Electrical Maintenance 9/8/2023 6/30/2024 CS $60,000