Finance Committee
April 24, 2024

FYs 2023-24 and
2024-25 Budget
Adjustment
Finance Committee
April 24, 2024
Key Factors
• Align revenues to actual trends and
economic conditions
• Adjust areas where changes are necessary
• Continued caution given economic
uncertainty
• Maintain focus on financial foundation and
sustainability
Key Adjustments – General Fund Revenue
Revenue Source Adjustment Description
Sales Tax Slight increase – reflect data projecting low growth Property Tax Modest increase – continued growth in assessed values Property Transfer Tax Large decrease – high lending and low inventory Utility Users Tax Modest increase – increased utility costs and trends Franchise Fees Modest increase – utility provider revenue Interest & Property Income Modest Increase – align with greater investments and increased rental income Charges for Services Modest Increase – greater revenue from City services and programs Other Revenue Slight increase – align with historical trends and actuals Adjusted General Fund Revenues
($ in 000s)
Key Adjustments –
General Fund
Expenditures
• City Manager’s Office
• Strategic Organizational Training: $32,500
• Continue to Fund Citywide Communications: $140,000
• Staffing for Communications: $83,700
• Fire
• Increased Labor Costs: $697,425
• Recreation & Parks
• Increased Scholarships for Rec Link: $20,000
• Increased Costs for Programming Registration: $100,000 • Increased Costs for Park and Landscape Maintenance: $100,000 • Increased Staffing Costs: $438,000
Key Adjustments –
General Fund
Expenditures Cont’d
• Human Services
• Costs to Align Staff With Priorities: $293,000
• Library
• Staffing Costs to Expand Services: $143,000
• Public Study Pods: $151,000
• Public Works
• Staffing Costs for Administrative, Environmental
Services, and Engineering Continuity: $341,200
• Community Development
• Downtown Coordinated Camera System:
$200,000
• Downtown Safety Ambassadors Service
Expansion: $70,000
General Fund Technical
Adjustments
• Vacancy Rates :$185,000
• Pension Costs: $417,415
• Compensated Absences and Payouts: $100,000
Adjusted General Fund Expenditures
($ in 000s)
General Fund Forecast
($ in 000’s)
Fund Balance Forecast
($ in 000’s)
Other Funds – Key Highlights
• Water Pollution Control Plant Fund
• Increased East Bay Discharge Authority Fees: $80,000
• Increased Parts, Supplies, and Services: $100,000
• Information Technology Internal Service Fund
• Network Replacement: $750,000
• Increased Software Costs: $86,500
• Insurance Services Internal Service Fund
• Increased Workers’ Compensation and Liability Premiums: $129,000 Other Funds
Technical
Adjustments
• Pension Costs: $258,500
• Moving Shoreline Sale Interest to CIP: $513,000
• Appropriating Asset Seizure for Approved Camera
Costs: $250,000
Citywide Adjusted Budget
($ in 000’s)
Questions?