RESOLUTION NO. CC-2506-042
FISCAL YEAR 2025-2026 ANNUAL BUDGET
PAGE NO. 1
RESOLUTION NO. CC-2506-042
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
REDONDO BEACH, CALIFORNIA, ADOPTING AN ANNUAL
BUDGET FOR FISCAL YEAR 2025-2026
WHEREAS, the City Manager has prepared and submitted to the City Council a proposed annual budget for the Fiscal Year 2025-2026 which commences on July 1, 2025 and ends on June 30, 2026; and
WHEREAS, the City Council has considered the proposed annual budget; and WHEREAS, a public hearing has been duly held pursuant to the provisions of the Charter of the City of Redondo Beach; and
WHEREAS, the City Council concurs with the proposed revenue and expenditure plan as outlined by the City Manager.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDONDO BEACH, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That the City Manager’s proposed annual budget for Fiscal year 2025-2026, as summarized in the document entitled Summary of Estimated Revenues & Appropriations and Estimated Changes in Fund Balances attached hereto as Exhibit A, and incorporated herein by this reference, is hereby adopted.
SECTION 2. That the expenditures of public funds in the amount of $211,326,579, comprised of Proposed Appropriations (Operating) in the amount of $181,624,316 and Proposed Appropriations (Capital) in the amount of $29,702,263 are authorized in accordance with the programs and services outlined in said budget.
SECTION 3. The City Clerk shall certify to the passage and adoption of this resolution and shall enter the same in the Book of Original Resolutions.
PASSED, APPROVED AND ADOPTED this 17
th day of June, 2025.
________________________________
James A. Light, Mayor
APPROVED AS TO FORM: ATTEST:
________________________________ ________________________________ Joy A. Ford, City Attorney Eleanor Manzano, CMC, City Clerk RESOLUTION NO. CC-2506-042
FISCAL YEAR 2025-2026 ANNUAL BUDGET
PAGE NO. 2
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss
CITY OF REDONDO BEACH )
I, Eleanor Manzano, City Clerk of the City of Redondo Beach, California, do hereby certify that Resolution No. CC-2506-042 was passed and adopted by the City Council of the City of Redondo Beach, California, at a regular meeting of said City Council held on the 17 th day of June, 2025,
and thereafter signed and approved by the Mayor and attested by the City Clerk, and that said resolution was adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
_______________________
Eleanor Manzano, CMC
City Clerk
RESOLUTION NO. CC-2506-042
FISCAL YEAR 2025-2026 ANNUAL BUDGET
PAGE NO. 3
EXHIBIT A
SUMMARY OF ESTIMATED REVENUES & APPROPRIATIONS
AND ESTIMATED CHANGES IN FUND BALANCES
See attached.
Fund
Estimated
Fund Balance
July 1, 2025
Proposed
Revenues
FY 2025-26
Proposed
Appropriations
FY 2025-26
(Operating)
Proposed
Appropriations
FY 2025-26
(Capital)
Transfers In Transfers
Out
City Manager
Recommendations
(net)
Estimated
Fund Balance
June 30, 2026
General Fund 2,612,555 120,709,967 (109,498,474) - 2,740,428 (15,137,398) (1,384,173) 42,906 Special Revenue Funds
State Gas Tax 4,936,469 3,757,941 (1,350,971) (2,191,060) - - (88,773) 5,063,607 Storm Drain Improvement 105,070 30,000 - (28,425) - - 106,645 Street Landscaping and Lighting - 1,530,600 (2,807,500) - 1,226,345 - (50,555) Local Transportation Article 3 70,249 80,698 - (127,627) - - 23,320 Measure M 3,310,497 1,435,427 - (3,650,390) - - 1,095,534 Proposition A 906,349 2,023,365 - (75,000) - (1,333,582) 1,521,132 Proposition C 4,159,315 1,773,444 - (5,544,231) - - 388,528 Measure R 2,148,600 1,255,083 - (3,287,396) - - 116,287 Measure W 302,160 720,000 (331,770) (1,327,938) - - (637,548) Air Quality Improvement 283,089 90,000 (115,969) (269,576) - - (12,456) Intergovernmental Grants - 54,270,536 (286,009) (53,984,527) - - - Comm Develop Block Grant - 285,916 (140,071) (83,195) - - 62,650 Housing Authority 2,487,601 8,633,644 (8,052,744) - - - 3,068,501 Parks and Recreation Facilities 151,993 31,500 - (48,000) - - 135,493 Narcotic Forfeiture and Seizure (64,457) 30,000 (61,157) - - - (95,614) Subdivision Park Trust 2,804,917 1,075,000 - (3,533,051) - - 346,866 Disaster Recovery 327,333 51,000 (17,060) - - - 361,273 CalPERS Reserve Fund 7,975,721 - (3,500,000) - - - 4,475,721 Total 29,904,907 77,074,154 (16,663,251) (74,150,416) 1,226,345 (1,333,582) (88,773) 15,969,383 Capital Projects Funds
Capital Projects 10,011,028 540,298 (194,590) (11,139,787) 839,921 - - 56,870 Major Facilities Reconstruction 836,130 - - (827,980) - - - 8,150 Open Space Acquisition 763,097 - - (322,394) - - - 440,703 Total 11,610,255 540,298 (194,590) (12,290,161) 839,921 - - 505,722 Enterprise Funds
Harbor Tidelands - 7,825,220 (6,903,733) 52,387 - (568,673) (445,282) (40,082) Harbor Uplands - 6,389,000 (5,841,883) 399,986 - (1,839,190) (121,006) (1,013,093) Solid Waste 1,618,436 7,210,928 (7,170,644) (218,498) - (73,377) (27,699) 1,339,146 Wastewater 3,113,003 5,871,203 (4,241,817) (3,183,801) - (191,305) (6,300) 1,360,984 Transit 58,270 2,897,078 (6,036,859) - 1,333,582 (64,205) (1,031,236) (2,843,371) Total 4,789,710 30,193,429 (30,194,936) (2,949,926) 1,333,582 (2,736,750) (1,631,523) (1,196,415) Internal Service Funds
Self-Insurance Program 8,317,394 7,681,233 (9,671,675) - - (10,482) (80,886) 6,235,584 Vehicle Replacement 5,706,653 5,157,417 (2,898,091) (325,104) - (73,377) (1,548,599) 6,018,899 Building Occupancy 352,277 3,922,105 (3,810,973) - - (151,995) (159,201) 152,213 Information Technology 749,366 5,258,901 (5,088,276) - - (150,685) (327,504) 441,802 Emergency Communications 1,103,972 4,193,132 (3,604,049) - - (209,649) (350,228) 1,133,178 Major Facilities Repair 488,383 137,270 - (612,749) - - - 12,904 Total 16,718,046 26,350,058 (25,073,064) (937,853) - (596,188) (2,466,418) 13,994,581 Total Before Adjustments 65,635,472 254,867,906 (181,624,316) (90,328,356) 6,140,276 (19,803,918) (5,570,887) 29,316,177 Less: Capital Carryover Funding 60,626,093
Total Adjusted for Capital Carryover 65,635,472 254,867,906 (181,624,316) (29,702,263) 6,140,276 (19,803,918) (5,570,887) 29,316,177 Less: Int Svc Fds/Overhead - (39,469,884) 39,469,884 -
Total City-Adjusted for Internal
Services & Capital Carryover 215,398,022 65,635,472 (142,154,432) (29,702,263) 6,140,276 (19,803,918) (5,570,887) 29,316,177 CITY OF REDONDO BEACH PROPOSED BUDGET FY 2025-26
SUMMARY OF ESTIMATED REVENUES, APPROPRIATIONS,
AND FUND BALANCE CHANGES WITH CITY MANAGER RECOMMENDATIONS Fund
Estimated
Fund Balance
July 1, 2025
Proposed
Revenues
FY 2025-26
Proposed
Appropriations
FY 2025-26
(Operating)
Proposed
Appropriations
FY 2025-26
(Capital)
Transfers In Transfers
Out
City Manager
Recommendations
(net)
Estimated
Fund Balance
June 30, 2026
Deposit Fund - - - - - - - -
Succesor Agency-City - (83,307) 83,307 - - - - (0)
Housing Successor-City - (1,296,606) 695,930 - - - - (600,676) Successor Agency - 881,938 (217,891) - - (839,921) - (175,874) Housing Successor Agency 3,497,714 44,000 (230,954) - - (250,000) - 3,060,760 Community Financing Authority 5,369,200 273,975 (15,017,138) - 14,753,563 - - 5,379,600 Total non-City 8,866,914 1,979,150 (16,845,897) - 14,753,563 (1,089,921) - 7,663,809 Adopted Grand Total 217,377,172 74,502,386 (159,000,329) (29,702,263) 20,893,839 (20,883,439) (5,570,887) 36,979,986 ● Beginning Balance of Intergovernmental Grants Fund and Community Development Block Grants Fund is set at zero as it is negative due to grant revenue and expenditure timing; this negative balance does not indicate a lack of funds. ● The General Fund beginning fund balance is net of the City Council-set 8.33% minimum contingency reserve ● General Fund appropriations include CalPERS UAL, contribution to reserve, and associated offsetting use of funds ● Estimated beginning fund balances reflect projected annual FY 2024-25 spending and commitments ● The total for Budget Resolution/ Adopted Appropriations is equal to the Total City Appropriations adjusted for Capital Carryover subtotal, adding the Appropriations (Operating) and Appropriations (Capital) columns. Carryover funding is included in the appropriations column to more accurately represent anticipated expenses for committed capital spending and therefore better caputure available ending fund balance, and backed out of the total for the Adopted Budget to allow for final adjustments to carryover figures following fiscal year-end. This is also consistent with past practice to adopt new capital funding only at the time of budget adoption. ● Most of the City's grants, including most capital grants, are paid on a reimbursement basis so that expenditure leads revenue. The City will identify annual estimated grant reimbursment for the fiscal year with the Carryover Budget report. ● The Street Landscaping & Lighting and Transit Fund balances are both shown at zero as they are subsidized by the General Fund and Proposition A funds, respectively.
● The Self-Insurance Program Fund beginning fund balance reflects a positive cash balance including offsets for future workers' compensation and liability claims.
● Internal Service Funds and Enterprise Fund starting fund balances back out long-term liabilities related to the 2021A lease revenue bond payment.
● The Transit Fund negative balance reflects timing of funding/ allocation ● The Harbor Tidelands and Harbor Uplands anticipate a zero starting estimated starting fund balances pending final final year-end revenue and operational spending.