CITY OF MIDYEAR BUDGET
REDONDO BEACH FY 2023-24
Fund
Estimated Fund
Balance
July 1, 2023
Adopted
Revenues
FY 2023-24
Adopted
Appropriations
FY 2023-24
Transfers In Transfers Out
Estimated Fund
Balance
June 30, 2024
General Fund 18,904,870 104,091,394 106,599,122 1,750,927 4,004,134 14,143,935 Special Revenue Funds
State Gas Tax 2,727,134 3,746,671 3,087,396 147 - 3,386,556 Storm Drain Improvement 234,415 30,000 200,000 - - 64,415 Street Landscaping and Lighting 113,320 1,530,600 2,449,110 1,173,574 - 368,384 Local Transportation Article 3 (907) 80,698 80,698 - - (907) Measure M 2,109,651 1,435,427 1,450,000 - - 2,095,078
Proposition A 2,641,537 2,023,365 - - 1,331,582 3,333,320 Proposition C 3,728,471 1,773,444 1,503,391 - - 3,998,524 Measure R 1,794,520 1,255,083 1,287,706 - - 1,761,897
Measure W 835,603 720,000 734,787 - - 820,816
Air Quality Improvement 281,487 90,000 270,849 45 - 100,683 Intergovernmental Grants - 12,823,248 10,587,046 - - 2,236,202 Comm Develop Block Grant (27,053) 285,916 271,991 - - (13,128) Housing Authority 1,356,801 7,845,801 7,702,744 298 - 1,500,156 Parks and Recreation Facilities 99,643 31,500 23,000 - - 108,143 Narcotic Forfeiture and Seizure 183,317 30,000 158,699 5,742 - 60,360 Subdivision Park Trust 3,747,562 350,000 1,104,000 284,000 - 3,277,562 Disaster Recovery 312,318 51,000 24,439 - - 338,879
CalPERS Reserve Fund 7,975,721 - - - - 7,975,721
Total 28,113,540 34,102,753 30,935,856 1,463,806 1,331,582 31,412,661 Capital Projects Funds
Capital Projects 11,108,562 512,421 3,033,791 1,695,053 - 10,282,245 Major Facilities Reconstruction 633,994 - 500,000 - - 133,994 Open Space Acquisition 1,217,121 - - - - 1,217,121
Total 12,959,677 512,421 3,533,791 1,695,053 - 11,633,360 Enterprise Funds
Harbor Tidelands 1,860,258 6,950,092 7,360,203 1,507 100,189 1,351,465 Harbor Uplands 416,064 6,149,000 5,416,128 935 1,650,738 (500,867) Solid Waste 1,234,012 7,009,024 7,165,188 324 - 1,078,172 Wastewater 10,383,060 5,869,939 4,772,372 437 - 11,481,064 Transit - 3,925,189 5,984,204 1,333,116 - (725,899)
Total 13,893,394 29,903,244 30,698,095 1,336,319 1,750,927 12,683,935 Internal Service Funds
Self-Insurance Program (10,419,443) 6,795,210 7,343,934 - - (10,968,167) Vehicle Replacement 9,420,988 6,001,973 8,383,310 176 - 7,039,827 Building Occupancy 668,773 7,438,069 3,408,762 310 - 4,698,390 Information Technology (77,519) 3,687,376 4,385,904 1,508 - (774,539) Emergency Communications 2,497,487 4,065,711 7,914,953 187 - (1,351,568) Major Facilities Repair 859,219 110,546 270,000 - - 699,765 Total 2,949,505 28,098,885 31,706,863 2,181 - (656,292) Total Before Adjustments 76,820,986 196,708,697 203,473,727 6,248,286 7,086,643 69,217,599 Less: Int Svc Fds/Overhead - (31,228,729) (31,228,729) - - - Total City 76,820,986 165,479,968 172,244,998 6,248,286 7,086,643 69,217,599 Successor Agency - 1,030,272 217,891 - 812,381 -
Housing Successor Agency 3,497,714 217,891 150,000 - - 3,565,605 Community Financing Authority 5,369,200 13,376,289 15,027,027 2,463,119 812,381 5,369,200 Grand Total 85,687,900 180,104,420 187,639,916 8,711,405 8,711,405 78,152,404 ● The 8.33% "minimum contingency reserve" set by the City Council has already been removed from the beginning fund balance of the General Fund. ● Beginning fund balances of the Harbor Tidelands and Harbor Uplands Funds exclude capital assets such as the pier and the parking structures.
SUMMARY OF ESTIMATED REVENUES, APPROPRIATIONS, AND FUND BALANCE CHANGES
FINANCIAL SUMMARY