C ITY OF B UDGET
REDONDO BEACH FY 2023-24
+ - + - +
Fund
Estimated Fund
Balances July
1, 2023
Proposed
Revenues
2023-24
Proposed
Expenditures
2023-24
Transfers In Transfers Out
Estimated Fund
Balances June 30,
2024
General Fund 1 2,402,805 102,708,989 98,429,483 1,750,927 2,733,532 5,699,706 State Gas Tax 1,288,146 3,746,671 3,087,396 - - 1,947,421 Storm Drain Improvement 202,330 30,000 200,000 147 - 32,477 Street Landscaping & Lighting - 1,530,600 2,345,180 1,069,557 - 254,977 Local Transportation Article 3 (3,157) 80,698 80,698 - - (3,157) Measure M 72,935 1,435,427 1,450,000 - - 58,362
Proposition A 2,959,748 2,023,365 - - 2,887,837 2,095,276 Proposition C (39,487) 1,773,444 1,503,391 - 230,566
Measure R 71,020 1,255,083 1,287,706 - - 38,397
Transit (1,229,680) 3,867,297 5,525,454 2,887,837 - -
Measure W (623,810) 720,000 734,787 - - (638,597)
Air Quality Improvement 196,900 90,000 220,849 45 - 66,096 Intergovernmental Grants - 9,569,500 9,569,500 - - -
Comm Develop Block Grant (216,657) 145,845 131,920 - - (202,732) Housing Authority 1,470,864 7,621,941 7,541,115 298 - 1,551,988 Parks & Recreation Facilities 11,143 31,500 23,000 - - 19,643 Narcotic Forfeiture & Seizure 135,246 30,000 58,699 5,742 - 112,289 Subdivision Park Trust 476,328 1,162,500 820,000 - - 818,828 Disaster Recovery 338,264 51,000 24,439 - - 364,825
CalPERS Reserve 7,975,721 - - - - 7,975,721
Capital Projects 1,761,739 512,421 2,151,119 812,381 - 935,422 Major Facilities Reconstruction 520,714 - 500,000 - - 20,714 Open Space Acquisition 1,123,149 - - - - 1,123,149
Harbor Tidelands 2 (5,294,902) 6,837,600 7,155,703 1,507 100,189 (5,711,687) Harbor Uplands 3 (2,135,478) 6,149,000 5,227,628 935 1,650,738 (2,863,909) Solid Waste 1,102,626 6,982,216 6,380,312 324 - 1,704,854 Wastewater 647,287 5,869,939 4,411,589 437 - 2,106,074
Self-Insurance Program (12,037,935) 6,795,210 7,343,934 - - (12,586,659) Vehicle Replacement 7,930,769 6,001,973 2,378,890 176 - 11,554,028 Building Occupancy 5,673,127 7,438,069 3,408,762 310 - 9,702,744 Information Technology 125,000 3,687,376 3,867,704 3,129 - (52,199) Emergency Communications 5,819,286 4,065,711 2,385,682 187 - 7,499,502 Major Facilities Repair 303,333 110,546 270,000 - - 143,879 Total Before Adjustments 21,027,374 192,323,921 178,514,940 6,533,939 7,372,296 33,997,998 Less: Int Svc Fds/Overhead - (32,053,360) (32,053,360) - - - Total City 21,027,374 160,270,561 146,461,580 6,533,939 7,372,296 33,997,998 Community Financing Authority - 13,376,289 15,027,027 2,463,119 812,381 - Successor Agency - 1,030,272 217,891 - 812,381 -
Housing Successor Agency 3,630,546 217,891 150,000 - - 3,698,437 Grand Total 24,657,920 174,895,013 161,856,498 8,997,058 8,997,058 37,696,435 1 The 8.33% "minimum contingency reserve" set by the City Council has already been removed from the beginning fund balance of the General Fund. liabilities which total $3.4M. These liabilities will not materialize in the period. When adding them back to the fund balance the net total is $1.2M.
SUMMARY OF ESTIMATED REVENUES, EXPENDITURES, & ESTIMATED CHANGES IN FUND BALANCES BEFORE
CITY MANAGER RECOMMENDATIONS
2 Tidelands- The beginning fund balance includes a reduction per GASB for capital assets, depreciation, and pension and OPEB future liabilities which total $7.8M. These liabilities will not materialize in the period. When adding them back to the fund balance the net total is $2.5M. 3 Uplands- The beginning fund balance includes a reduction per GASB for capital assets, depreciation, and pension and OPEB future
FINANCIAL SUMMARIES