CITY OF PACIFICA
COUNCIL AGENDA SUMMARY REPORT
3/27/2023
1 SUBJECT:
Midyear Budget Review and Adoption of Resolution to Adjust the Fiscal Year 2022-23 Budget.
RECOMMENDED ACTION:
Adopt a resolution authorizing the midyear FY 2022-23 Operating and Capital Budget adjustments.
STAFF CONTACT:
Kevin Woodhouse, City Manager
[email protected]
650-738-7409
Yulia Carter, Assistant City Manager
[email protected]
650-738-7301
BACKGROUND:
The Finance staff has completed a Midyear Budget review and is proposing adjustments to the FY 2022-23 Adopted Budget.
The purpose of the midyear budget review is to analyze the year-to-date revenues and expenditures to review assumptions made before the budget cycle and make necessary adjustments to reflect changes in the City's financial conditions. The midyear budget review is also a segue to the next fiscal year's budget development process, as the midyear analysis is used to develop the base budget assumptions for the new year.
On June 27, 2022, the City Council adopted a balanced FY 2022-23 Budget that reflected the Council's priorities and uses of American Rescue Plan Act (ARPA) funds for the upcoming fiscal year. This FY 2022-23 Midyear Budget report will focus on the following key objectives:
1. Updating City Council on the status of revenues and expenditures within the FY 2022-23 General Fund Revised Budget and requesting total revenue adjustment to the FY 2022- 23 General Fund of $3.4 million or 7%, including accounting for the new Measure Y ½ Transaction & Use Tax revenues that goes into effect April 1, 2023 (Attachment 3) and appropriation increase of $1.8 million or 4% (Attachment 4), including a net of $600,000 expenditures previously approved by the Council throughout the year (Attachment 2).
2. Updating City Council on the status of revenues and expenditures within the FY 2022-23 Non-General Fund Revised Budget and requesting an increase to the FY 2022-23 nongeneral (Other) Funds Revenues totaling $1.2 million or 3% of the Total Other Funds Adopted Budget (Attachment 3). The Other Funds Expenditures adjustments total $3.2 million or 6% (Attachment 4), most of which were the result of the motor pool vehicle replacement project previously approved by the Council (Attachment 2).
Pacifica City Council 2
March 27, 2023
3. Updating Council on the projected fund balance for all City Funds through June 30, 2023 (Attachment 5).
The FY 2022-23 Operating and Capital Budget was adopted as a balanced budget, meaning that the City's operating expenditures did not exceed operating revenues.
The FY 2022-23 Revised General Fund budget is $50.7 million in revenue and $49.1 million in total General Fund expenditures.
City-wide revenues from all other non-general funds are projected to increase by $1.2 million (Attachment 3), and citywide expenditures from all other non-general funds are projected to increase by $3.2 million primarily due to the $2 million additional appropriation for the motor pool replacement project previously approved by Council earlier this year and staff’s recommendation to earmark the current year’s Measure Y revenues of $0.65 million towards the Street Resurfacing CIP project.
Staff used the following methodology for the midyear budget analysis: the year-end estimates in operating revenues and expenditures in excess of the adopted budget by 5% and $25,000 in each revenue and expense categories and cost centers were considered material in nature and are being proposed for a budget adjustment.
1. Status of General Fund Revenues and Expenditures in FY 2022-23 Revised Budget FY 2022-23 General Fund Revenues
The General Fund is the City’s primary operating fund and is used to account for most day-today activities. It receives unrestricted revenues and provides the City’s general administrative services, public safety, parks, beaches and recreation, public works, and community development-related activities such as planning, building, and engineering. Revenue sources include but are not limited to property tax, sales tax, and transient occupancy tax (TOT), business tax registration, and current fees and charges for services.
The revised estimates for General Fund revenues (excluding transfers) are projected to be $48.6 million or $3.4 million (7%) higher than the Adopted Budget of $45.2 million mainly due to the City’s increase in the revenue base and one-time revenues related to Vehicle License Fees backfill from the State that were conservatively under-budgeted due to uncertainties about the City receiving these funds this year when the budget was adopted. The revised revenue projections also include adjustments to Sales taxes, Transient Occupancy taxes and Utilities User Taxes, which project to perform strong based on the actual data as of the quarter ending December 31, 2022, and the addition of the new Measure Y ½ cent transaction and use tax that is scheduled to commence on April 1, 2023.
The following table demonstrates General Fund revenues for the FY 2022-23 Actual, FY 2022- 23 Adopted, and Revised FY 2022-23 budget projections.
Pacifica City Council 3
March 27, 2023
Description FY 2021-22
Actual
FY 2022-23
Adopted Budget
FY 2022-23
Revised
Budget
$ Change
Revised over
Adopted
% Change
Revised
over
Adopted
Taxes $ 28,851,076 $ 31,249,900 $ 34,555,707 $ 3,305,807 11% Property Tax $ 14,500,404 $ 15,181,300 15,554,100 372,800 2% Vehicle License Fees $ 4,355,327 $ 5,922,400 6,986,807 1,064,407 18% Business License Tax $ 460,964 $ 516,600 453,000 (63,600) -12% Cannabis Tax $ 839,527 $ 825,000 825,000 - -
Sales Tax $ 3,136,434 $ 3,111,200 4,006,000 894,800 29% Transient Occupancy Tax $ 1,492,502 $ 2,100,000 2,643,000 543,000 26% Utility Users Tax $ 2,265,330 $ 1,905,600 2,400,000 494,400 26% Other Taxes $ 1,800,589 $ 1,687,800 1,687,800 - -
Intergovernmental $ 6,394,725 $ 5,365,212 5,262,512 (102,700) -2% Other Revenue $ - $ 88,000 88,000 - -
Charges for Services $ 6,184,825 $ 8,542,251 8,741,251 199,000 2% Sub-total $ 41,430,626 $ 45,245,363 48,647,470 3,402,107 8% Transfers In $ 2,150,898 $ 2,029,900 2,029,900 - -
Total $ 43,581,524 $ 47,275,263 50,677,370 $ 3,402,107 7% FY 2022-23 General Fund Revenues Adjustments for Council Approval The following revenues are projected to reflect material changes over the FY 2022-23 Adopted Budget and recommended for budget adjustment:
• Property Tax is the City’s largest revenue source. Based on the first 50% remittance received in December 2022, the revenues are projected to increase 8% from last year primarily due to increase in property transfer taxes, while the adopted budget assumption was a 6% growth. Staff recommends increasing the property tax revenue by an additional 2% or $372,800.
• Vehicle License Fee was converted to a property tax source by state legislation and grows as property tax grows in the City. The County of San Mateo remits the VLF related property tax twice a year in equal amounts. For FY 2019-20, the State began diverting a portion of the City’s VLF with a plan to backfill the amount in two years (FY 2021-22). This diversion has continued for three years, and the State slowly began to pay the funds back with a two-year lag time. At the time of preparing the adopted FY 2022-23 year, it was still uncertain if the state would backfill the total owned obligations for FY 2020-21, so staff recommended budgeting half of the anticipated amount. After the Budget was adopted, the State announced that the full amount of the FY 2020-21 backfill was going to be funded this year. Therefore, a midyear adjustment of $1,064,407 is recommended. Looking forward, staff has been informed the State will not be continuing to backfill the total VLF obligations moving forward based on the Governor’s proposed budget release in January 2023, which will result in an approximately $0.7 million shortfall in this revenue category in the next year’s budget. • Business License Tax shows a decrease of $63,600 or 12%, based on the actual revenue collection in the first half of this fiscal year. The budget projections were overly optimistic and assumed completion of the compliance efforts in all business categories this fiscal year which became a much more complicated and longer process. After consulting with HdL, the City’s tax consultant, most of the compliance work will continue throughout the next fiscal year. About 90% of the revenue are collected prior to midyear.
The revised amount of $453,000 is consistent with what was collected last year. • Sales Tax is the City’s second-largest revenue source. Staff is proposing an increase of Pacifica City Council 4
March 27, 2023
$244,800 or 8% over the Adopted budget based on current year activity and revised projections from HdL, the City’s sales tax advisor. The local sales tax is showing an increase in the Restaurant and Hotel as well as the Fuel and Service Station industry categories due to increases in post COVID travel and gas prices and activity level. In addition, the sales tax category projections include the new Measure Y ½ cent transaction and use tax of $650,000 (3-month estimate) that will begin to be collected on April 1, 2023. In total, the sales tax category is proposed to increase $894,800 or 29%. • Transient Occupancy Tax (TOT). The hospitality industry was affected the most by the pandemic. National and international tourism took the hardest hit, which negatively impacted the City’s hotel occupancy and TOT revenues. These revenues are showing a substantial increase compared to the prior year. This positive trend is a result of multiple factors, including the post-COVID recovery of the hotel industry, increased nightly rates, and the opening of the 88-room Fairfield by Marriott Inn & Suites hotel in spring of last year. The increase is also attributable to recent efforts by HdL, the City’s tax consultant, in identifying short-term rentals (STR) and bringing them into compliance. The revised FY 2022-23 TOT revenues are projected at $2.6 million, showing an additional $543,000 or 26% increase over the Adopted Budget. Approximately $1.2 million or approximately 47% of the total TOT amount comes from STRs.
• Utility Users Tax was budgeted at $1.9 million and projects an increase of $494,400, or 26% to $2.4 million. The increase is based on current year-to-date activity through December 2022 increasing by 27% compared to the same period last year, which is a result of significant increases in gas and electric rates. • Charges for Services project a marginal increase of $199,000 or 2% mainly due to an increase in building and electrical permit activity.
FY 2022-23 General Fund Expenditures
Expenditure projections were reviewed based on three categories: personnel costs and general government program budget in contract services, materials & supply categories as listed below.
Expenditures FY 2021-22
Actual
FY 2022-23
Adopted Budget
FY 2022-23
Revised
Budget
$ Change
Revised over
Adopted
% Change
Revised
over
Adopted
Salaries & Benefits $ 27,161,805 $ 30,728,643 $ 30,487,053 $ (241,590) -1% Contract Services 7,243,504 9,689,494 10,993,084 1,303,590 13% Material/Supplies/Maintenance 3,676,751 3,753,709 3,850,709 97,000 3% Sub-Total 38,082,061 44,171,846 45,330,846 1,159,000 3% Transfers/Allocations Out 5,105,875 3,100,381 3,750,381 650,000 21% Total $ 43,187,936 $ 47,272,227 $ 49,081,227 $ 1,809,000 4% Previously Approved Changes to the FY 2022-23 Budget
At every Council meeting, staff brings agenda items for the Council's consideration and approval. Some of these items require amendments to the original budget. During the midyear budget review process, Finance staff incorporated all previously approved budget amendments year-to-date into the FY 2022-23 Revised Budget. These adjustments increased the General Fund appropriation by $600,000, as further described in Attachment 2.
Staff Adjustments to Budget
Pacifica City Council 5
March 27, 2023
During the midyear budget review process, staff makes a number of minor cleanup changes and adjustments within the department's budgets. Money is moved from various individual lineitems with savings to other line items within a department budget. This is done when a line item may go over its original budget amount. These changes are considered routine as they have minimal effects on the overall budget and remain within the FY 2022-23 Council approved funding level. Again, only the year-end estimates in expenditures categories in excess of the adopted budget by 5% and $25,000 in each cost center are being proposed for a budget adjustment as listed below.
FY 2022-23 General Fund Operating Expenditures Adjustments for Council Approval Salaries and Benefits and Position Control
Personnel cost projections are based on the most current payroll cost and projected for the remainder of the fiscal year after factoring in expected personnel changes. Over the past two years, the City has been hampered by a high vacancy rate and challenges in recruiting and retaining talent. These challenges are currently widespread in the local government sector, especially in highly competitive and costly labor markets like the Bay Area. Some recruitments had to be repeated multiple times without success. Because of these trends, staff is projecting a substantial salary savings of nearly $2.5 million created by ongoing high vacancy rates and in some cases new employees coming in at a lower salary step than the incumbents. However, staff does not recommend reducing the personnel budget due to salary savings, as this could be a misleading representation of personnel cost. Plus, salary savings may help offset any unexpected increases before the end of the year, while any unused savings would revert to the General Fund balance at the end of the fiscal year close.
However, staff is reporting this figure here as it provides necessary background in understanding the City’s ongoing staffing challenges as a number of projects budgeted for this year have not started yet and will have to be rolled into the new year.
Position Control Changes
As part of the mid-year budget review staff is requesting the following adjustments to the current FY 2022-23 position control:
1. Remove the “limited-term” designation from the Management Analyst position in the City Manager’s Office that provides critical support for economic development and sustainability programs that have no other designated staff resources. Approving this recommendation will be a proactive measure to continue staffing these essential programs and will also help with keeping desired talent within the organization.
2. Reallocate funds from Salaries and Benefits to the Contractual Services category in Public Works and Finance Departments as following:
a. Convert the ARPA-funded Sr. Accountant position to contractual services in the Finance Department. This temporary two-year term position was added to the FY 2022-23 Budget to assist the City with implementation of the new Enterprise Resource Planning (ERP) system. The City was not able to fill this position due to the above-mentioned on-going recruitment challenges and the unique skillset requirement in both municipal accounting and systems implementations. Staff recommends reallocating the full budget of $179,590 from Salaries and Benefits into the Contractual Services category to fund this work through a professional services contract.
Pacifica City Council 6
March 27, 2023
b. Convert the ARPA-funded Project Manager position to contractual services category in the Public Works Department. The City successfully filled a limitedterm Project Manager position to manage the Civic Center remodel project.
However, the incumbent has recently accepted a permanent position with another City. In order to avoid service interruption and increase in Civic Center project cost, staff recommends reallocating the remaining budget for this position ($62K) into the Contractual Services category to continue with the Project Management scope through a professional services contract.
There is no budget impact for the position control related items above as this cost is already included in the FY 2022-23 Adopted Budget and no additional appropriation is requested at this time. Staff is presenting these changes for Council’s approval now as a matter of position control, in preparation for the new budget to carry-over these changes into the FY2023-24 Base Budget development process.
Contract Services
• Grant Funding Services - Additional allocation of $60,000 in the City Manager’s department budget is being proposed to continue funding grant writing services. • Legal Services - Additional allocation of $0.6 million is needed to increase the City Attorney’s general services from the original budget of $1.3 million to the revised budget amount of $1.9 million. This increase is partially due to a large one-time unbudgeted settlement agreement that was included in legal cost and is also based on the current cost trends and anticipated increase in legal expenses related to labor negotiations in the second half of the fiscal year.
Material, Supplies and Maintenance Services
• Police Department Network Equipment Upgrade - Additional allocation of $72,000 in IT Department budget to cover failing network equipment that serves the Police Department. The core network switches and firewalls in the Police Department are approaching end of useful life and some equipment is starting to fail, causing network disruptions. The request will cover one-time cost of replacing 8 network switches and 2 firewalls
· Computer Software - Additional allocation in the City Manager Department to continue funding the ongoing software system for the public information requests in the amount of $25,000 unintentionally omitted in the budget.
· General Liability and Property Insurance Premium - Increase in appropriation by $462,000 due to significant increase in the insurance cost (approx. 40%) that was unknown when the budget was developed. Based on recent conversations with PLAN JPA, the City’s insurance carrier, the insurance market in post-COVID environment has been very unstable, and we should anticipate another increase of 20-25% in property insurance rates for the upcoming budget.
Transfers/Allocations Out
· Additional Allocation towards the Pavement Resurfacing CIP - Transfers Out the projected FY 2022-23 Measure Y revenues of $650,000 from the General Fund to the Street Construction Fund (09) to provide additional funding for the Pavement Pacifica City Council 7
March 27, 2023
Resurfacing Project (CIP #0318). This allocation will be programed into the future resurfacing work plan that may include streets that are currently not included in the City’s five-year pavement plan. Public Works department will return to Council at a later day with the proposed priority work plan.
Overall, FY 2022-23 General Fund operating expenditures are amended to net $1.2 million or 3%, which includes an operating increase of $1.2 million, including $600,000 of previously approved Council adjustments throughout the year (Attachment 2) and $650,000 in transfers out to the Street Construction Fund as described above.
2. Status of Non-General Fund Revenues and Expenditures in FY 2022-23 Revised Budget
Non-General Funds include the following categories.
· Enterprise Funds, including Sewer Operating and Capital and Beach Parking funds • Special Revenue and Capital Funds, including Gas Tax and Street funds, Drainage, General Capital, Housing and Park in lieu funds, PB&R Roy Davies Trust fund, Disaster Accounting and others.
· Internal Service Funds, including Motor Pool Operating and Replacement funds, Dental Benefit fund and Risk Management (Workers' Comp and General Liability) funds. · Debt Service Fund
Non-General Fund FY 2022-23 Revenues and Transfers In
In the Adopted FY 2022-23 Budget, these revenues comprise $44.5 million or 48.5% of the City's $91.7 million total revenue budget. The non-general fund revenues are projected to increase by net of $1.2 million to $45.7 million as listed in Attachment 3 and proposed midyear adjustments as listed below. The figure above includes the revenue increase of $575,000 previously approved by Council as detailed in Attachment 2 and $650,000 transfers in of the Measure Y revenues into the Street Construction Fund.
FY 2022-23 Non-General Fund Revenues Adjustments for Council Approval The following non-General Fund revenues are projected to reflect material changes over the FY 2022-23 Adopted Budget and recommended for budget adjustment:
Special Revenue and Capital Funds:
• Street Construction Fund (Fund 09) revenues are proposed to be increased by $650,000 as a transfer in of the projected FY 2022-23 Measure Y revenues from the General Fund to the Street Construction Fund to be used for the expansion of the Pavement Resurfacing Project (CIP #0318).
Additional information on individual non-general fund revenue categories is presented in Attachment 3.
FY 2022-23 Non-General Fund FY 2022-23 Expenditures and Transfers Out Adjustments for Council Consideration
Pacifica City Council 8
March 27, 2023
Non-General Fund FY 2022-23 Adopted expenditures comprise $52.8 million, or 52.8% of the City's $100.1 million total expenditure budget. These expenditures are proposed to be amended by the net of $3.2 million or 6%, which was mostly previously approved by the City Council yearto-date ($2.6 million) as listed in Attachment 2. • Street Construction Fund (Fund 09) - Measure Y 1/2c transaction and use tax revenue will begin to be collected in General Fund on April 1, 2023. Although the City will not receive these revenues until the very end of the fiscal year, staff anticipates $650,000 will be collected and accrued in FY 2022-23. Staff is proposing to earmark these funds for the expansion of the Pavement Resurfacing Project (CIP #0318) as further explained above.
• General Capital Improvement Fund (Fund 22) - Reallocation of the Capital funding from San Pedro Creek Bank Stabilization CIP project to a new San Pedro Creek Storm Repair project in the Public Works department in the amount of $180,000 with a net zero effect on the FY 2022-23 CIP budget. The large storm event on December 31, 2022, caused a portion of the asphalt pathway along San Pedro Creek at the NE corner of the Pedro Point Shopping Center to fail along with a portion of the creek bank. It is important to begin repairs on the project immediately in order to be eligible for possible reimbursement funding from FEMA. Staff is proposing using the $180k currently allocated to the San Pedro Bank Stabilization Project (0320) for this work. In reviewing project #0320, there is no new erosion that has occurred within this area; therefore, it is staff’s recommendation to delay this work to a later date and use the allocated funds for the newly proposed project.
Capital expenditures will be further reviewed by staff during the FY 2023-24 CIP Budget development process that is now being prepared by Public Works department.
3. Projected Fund Balance Structure
The FY 2022-23 revised budget amounts have been updated from the adopted budget figures following the independent audit of FY 2022-23. Under GASB 54, this balance is made up of the following components: non-spendable items or portions of fund balance that cannot be liquidated, restricted amounts for use by outside agencies, committed amounts by Council action such as emergency/contingency reserves and assigned balances to pay off unfunded liabilities and to fund infrastructure improvements.
These restricted reserves and operating contingency are at $10.9 million leaving an unassigned projected balance of $7.7 million, which equates to 15.8% of the General Fund operating expenditures (excluding one-time and capital transfers). This is an increase of nearly $1.4 million or 2.4% from the Adopted Budget (adjusted by the beginning fund balance), which complies with the Government Finance Officers Association of the US and Canada (GFOA) recommendation for government entities of meeting at least two months of operating revenues or expenditures before considering any additional assigned reserves previously set-aside by Council policy as listed in the table below.
Although a further increase in the General Fund unassigned fund balance would be desirable, this is certainly a move in the right direction that puts the City in a slightly better financial position to face budget choices in the upcoming years.
Pacifica City Council 9
March 27, 2023
Designations Actual
2021-22
Adopted
2022-23
Revised
2022-23
(Midyear)
Variance
Revised vs.
Adopted
Beginning Fund Balance $ 15,846,029 $ 16,292,225 $ 16,292,225 $ - Total Revenue* 43,581,524 47,275,263 50,677,370 3,402,107 Total Operating Expenditures 43,187,936 46,617,227 48,426,227 1,809,000 Total Capital Project Expenditures 655,000 655,000 -
Ending Fund Balance 16,292,225 16,950,261 18,543,368 1,593,107 Non-Spendable 3,768,557 4,848,527 4,848,527 -
Restricted 342,510 350,000 350,000
Assigned Reserves
Policy Level of 10% of Expenditures 3,810,040 4,661,723 4,842,623 180,900 Facility Maintenance & Replacement * 205,000 55,000 55,000 - Compensated Absences 200,000 200,000 200,000 -
Child Care Reserve* 488,591 488,591 488,591 -
Legal Reserves 100,000 100,000 100,000 -
Assigned Reserves 4,803,631 5,505,314 5,686,214 180,900 Total Designations 8,914,698 10,703,841 10,884,741 180,900 Unassigned Fund Balance 7,377,527 6,246,420 7,658,627 1,412,207 Operating Expenses 43,187,936 46,617,227 48,426,227 1,809,000 Unassigned Fund Balance as % of Op. Expenses 17% 13.4% 15.8% 2.4% The overall impact of the midyear budget review on the General Fund is positive and projects an additional $1.4 million in unassigned General Fund Balance. This results from a better than expected performance at the FY 2021-22 year-end, which increased the unassigned Actual audited FY 2021-22 General Fund balance by approximately $0.9 million to $7.4 million compared to the FY 2021-22 projected figure of $6.5 million used for the Budget.
Another major contributing factor is prudent fiscal management by the City Council and demonstrated financial discipline by the City Manager and all City Departments in keeping their operations within their limited budget means. This projected General Fund balance will be used as a starting point in preparation for the new budget and City Council discussion of strategic goals and priorities for the upcoming budget cycle.
Should the Council approve all midyear budget recommendations listed above, the estimated ending unassigned General Fund balance as of June 30, 2023, is projected to be approximately $7.7 million, or 15.8% of the Operating expenditure, which is $1.4 million higher than the projected $6.2 million balance or 13.4% reported at Budget Adoption.
Staff will continue monitoring remaining fund balances and reevaluate strategies for future use of these funds as part of the FY2023-24 Budget. Please refer to the attached summary schedule presented in Attachment 5 for additional information on the City's Revised FY 2022-23 projected fund balances across all funds.
The City of Pacifica prides itself on an open, inclusive, and comprehensive budget process. This process traditionally takes place over the course of several months and involves several Council study sessions in which the public has been invited to participate. This year the City Council transitioned to the broader strategic planning process versus the annual goal setting workshop that took place in previous years, and held the first Strategic Planning session on March 4, 2023, with the second session being planned for April 11, 2023. The Council’s Strategic Planning work provides a critically important roadmap for the organization as it establishes the framework for the City's short and long-term priorities and objectives and translates into the workplan for the upcoming year to be reflected in the budget.
Pacifica City Council 10 March 27, 2023
Staff looks forward to working with the Council on implementation of the vision for the community and to address any current and potential financial challenges that may lay ahead.
This work may include identifying operational opportunities and efficiencies, assessing adequate tax and fee structure, pursuing appropriate economic development opportunities, and advising on alternative revenue options available to the City to facilitate economic recovery and ensure the continuing high quality of life for the residents and visitors of Pacifica.
ALTERNATIVE ACTION:
The City Council is being asked to adopt the resolution amending the FY 2022-23 Budget. No reasonable alternative action is identified.
RELATION TO CITY COUNCIL GOALS AND WORK PLAN:
A balanced and structurally sustainable budget is consistent with all the City Council's goals.
FISCAL IMPACT:
As part of the FY 2022-23 midyear review, the General Fund revenues are amended to be $50.7 million, an increase of $3.4 million or 7%, and General Fund operating expenditures are amended to $49.1 million, an increase of $1.8 million or 4% over the FY 2022-23 Adopted budget. Staff recommends a total revenue increase of $1.2 million or 3% and appropriation adjustment of $3.2 million or 6% to other Non-General Funds primarily due to previously approved funding of vehicle replacement needs in the Motor Pool Replacement fund.
ORIGINATED BY:
City Manager's Office
ATTACHMENT LIST:
Attachment 2 - FY 2022-23 Previously Approved Budget Amendments (PDF) Attachment 3 - FY 2022-23 Summary of Revenues and Transfers by Fund (PDF) Attachment 4 - FY 2022-23 Summary of Expenditures and Transfers by Fund (PDF) Attachment 5 - FY 2022-23 Fund Balance Summary by Fund (PDF) Pacifica City Council 11 March 27, 2023
RESOLUTION NO. ________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PACIFICA ADOPTING THE FISCAL YEAR 2022-2023 MID-YEAR BUDGET ADJUSTMENTS
WHEREAS, the City Council adopted the FY 2022-23 Operating and Capital Budget on June 27, 2022; and
WHEREAS, the recommended budget was a balanced expenditure plan that ensured the maintenance of adequate reserves during FY 2022-23; and WHEREAS, City Staff has completed a mid-year budget review to validate budget assumptions and conduct an analysis of the year-to-date revenues and expenditures; and WHEREAS, the City Council has reviewed the Mid-Year Budget analysis and requested adjustments; and
WHEREAS, the City of Pacifica now desires to adopt the 2022-23 Fiscal Year MidYear adjustments to the FY 2022-23 budget.
NOW, THEREFORE, THE CITY COUNCIL HEREBY RESOLVES:
The City Council of the City of Pacifica hereby approves the mid-year adjustments to the FY 2022-23 budget with the citywide revenues and appropriations as follows:
Pacifica City Council 12 March 27, 2023
Fund Number and Fund Name
Revenue
Adjustments
Appropriation
Adjustments
GENERAL FUND
01 General Fund $ 3,402,107 $ 1,809,000
Total General Funds 3,402,107 1,809,000
ENTERPRISE FUNDS
18 Sewer Charge Fund - 500,000
34 Sewer Facility Construction Fund - -
35 Beach Parking Fund - -
Total Enterprise Funds - 500,000
SPECIAL REVENUE AND CAPITAL FUNDS
07 SLES Fund - -
09 Street Construction Fund 650,000 650,000
10 Gas Tax Maintenance Fund* - -
12 Highway 1 Improvement Fund - -
14 Manor Drive Improvement Fund - -
15 Aircraft Noise Project - -
16 NPDES Stormwater Fund - -
19 Planned Local Drainage Fund - -
22 General Capital Improvement Fund - -
23 Frontierland Remediation - -
24 Housing In-Lieu Fund - -
25 Parking In-Lieu Fund - -
26 Park In-Lieu Capital Improvement - -
27 PB&R Roy Davies Trust - -
28 PB&R Special Revenue Fund - 115,452
31 Pacifica Library Fund - -
38 Disaster Accounting Fund - -
Total Special Revenue & Capital Funds 650,000 765,452
INTERNAL SERVICE FUNDS
65 Self Funded Dental Plan - -
66 Self-Insurance Fund W/C - -
67 Self-Insurance Fund Liability - -
71 Motor Pool Operations Fund - -
72 Motor Pool Replacement Fund 575,000 1,979,660
74 Fire Equipment Fund - -
Total Internal Service Funds 575,000 1,979,660
DEBT SERVICE FUNDS
40 Debt Service Fund - -
Total Debt Service Funds - -
1,225,000 3,245,112
$ 4,627,107 $ 5,054,112
City of Pacifica
Summary of FY2022-23 Mid-year Budget Adjustments
Total All Funds
Total Other Funds (non-General Fund)
Pacifica City Council 13 March 27, 2023
PASSED AND ADOPTED at a regular meeting of the City Council of the City of Pacifica, California, held on the 27th day of March, 2023, by the following vote:
AYES, Councilmembers:
NOES, Councilmembers:
ABSENT, Councilmembers:
ABSTAIN, Councilmembers:
_________________________________
Tygarjas Twyrls Bigstyck, Mayor
ATTEST: APPROVED AS TO FORM:
______________________________ _________________________________ Sarah Coffey, City Clerk Michelle Kenyon, City Attorney