CITY OF SIMI VALLEY
MEMORANDUM
J
une 3, 2024
TO
: City Council
F
ROM: Office of the City Manager
S
UBJECT: RECEIPT OF THE SIMI VALLEY COUNCIL ON AGING FISCAL YEAR 2024-25 BUDGET
STAFF RECOMMENDATION
The Simi Valley Council On Aging (COA) recommends that the City Council receive and file the Simi Valley Council On Aging Fiscal Year (FY) 2024-25 Budget.
BACKGROUND AND OVERVIEW
On January 7, 1974, the City Council created the COA to serve as an advisory body to the City C ouncil on all matters dealing with senior citizens. On November 22, 1976, the City Council approved Resolution 76-140, authorizing the COA to accept donations and other revenues and make expenditures from a separate account from the City’s warrant system. As such, the COA maintains its budget separate from the City’s General Fund. Its budget is adopted annually and monitored by the COA Executive Board, City M
anager’s Office staff, and audited by Fiscal
Services staff. The COA approved the Council On Aging FY 2024-2 5 Budget (Exhibit A, page 4) at its April 8, 2024, meeting. The COA’s FY 2024-2 5 Budget is solely funded by fundraiser proceeds and donat ions to the COA and does not include City General Fund contributions.
FINDINGS AND ALTERNATIVES
Through it’s delegated authority granted by the City Council, the COA generates income from a variety of sources, including receipt of donations and fundraising through special events to support quality of life issues for seniors. The COA helps identify the needs of seniors, develops and recommends solutions for senior issues, and administers and supports programs that benefit seniors.
FY 2023-24 Budget
The COA’s FY 2023-24 anticipated revenues are $57,872 and anticipated expenditures are $82,209, resulting in a decrease of $2 4,337 to the COA’s fund balance. The COA fund balance is estimated to be $ 425,316 at the conclusion of FY 202 3-24. The COA operates independently from the City’s General Fund and requires no outside subsidies
AGENDA I
TEM NO.
Consent (1)
2 30/04-24
due to the revenue generated by its fundraising efforts to sustain its programs. The COA’s reserves have grown to levels that allow for the continued support of senior programs.
Some of the programs supported by the COA include the Senior Nutrition progr am, entertainment, and classroom and facility equipment.
FY 2024-25 Budget
For FY 2024-25, the COA anticipates revenues of $50,600 and expenditures of $126,950.
Budgeted expenditures include allocations of $ 38,100 in support of food and nutrition programs offered at the Senior Center, as well as an allocation of $30,000 to replace aging furniture. The COA will draw from its fund balance to support its expenditure levels throughout the fiscal year. The COA is committed to enhancing community outreach and identifying and supporting programming designed to help seniors in the community.
The COA’s successful fundraising efforts and strong community support have sustained the COA’s programming and sponsorship of various critical programs that benefit seniors.
As the COA focuses on maintaining its responsiveness to and support of the seniors it serves, the COA will continue to review ongoing programs for enhancements or changes to meet the current needs of the senior community.
The COA has consistently maintained a healthy fund balance of well over 17% of annual planned expenditures as required by the COA Financial Policies and Procedures. In addition to the fund balance, the COA has an endowment of approximately $27,885 with the Ventura County Community Foundation, which is intended to provide long -term financial stability for senior programs. While the COA maintains a healthy fund balance, its purpose and intent is to support senior programs and the activities of the City’s Senior Center, which may result in a fluctuating fund balance over the years based on community needs. The Executive Board frequently reviews its strategic planning efforts to ensure that the COA is able to identify the current community needs and maximize the support for those needs.
The following alternatives are available to the City Council:
1. Receive and file the Council On Aging FY 2024-25 Budget;
2. Request the Council On Aging revise its FY 2024-25 Budget;
3. Provide the Council On Aging with alternate direction.
The Council On Aging recommends Alternative No. 1
SUGGESTED CITY COUNCIL MOTION
I move that the City Council receive and file the C ouncil On Aging Fiscal Year 2024- 25 Budget.
3 30/04-24
SUMMARY
T
he City Council has authorized the COA to accept and generate revenues to support senior programming and services. As such, the COA adopts a budget each fiscal year.
On April 8, 2024, the Counc il On Aging approved the COA FY 2024- 25 Budget and recommended that the budget be submitted to the City Council to receive and file. ___
_________________________________
Linda Swan
Assistant City Manager
P
repared by: Robert Martin, Assistant Community Services Manager INDEX Page
E
xhibit A – Council On Aging FY 2024-25 Budget ........................... 4
BUDGET ACTUALS BUDGET EST ACTUALS BUDGET
FY 2022-23 FY 2022-23 FY 2023-24 FY 2023-24 FY 2024-25
ENDOWMENT BALANCE 29,081$ 26,678$ 26,146$ 27,885$ 27,885$ BEGINNING FUND BALANCE 437,771$ 463,708$ 438,200$ 449,652$ 425,316$ INCOME
4000 Contributed Support (Contributions from individuals and local businesses)
4010-Individual Contribution 5,000$ 11,485$ 5,000$ 6,634$ 5,000$ 4015-Business Contribution 1,500$ -$ -$ 6,500$ 6,500$ 4020-Designated Contribution 6,200$ 4,684$ 3,500$ 3,100$ 3,000$ Total Contributed Support 12,700$ 16,169$ 8,500$ 16,234$ 14,500$ 5000 Earned Revenues (Revenues from special events and
advertisement)
5310-Interest on Savings(Administrative) -$ 5,356$ -$ 5,508$ -$ 5340-Investment Income (VCCF Endowment) -$ -$ -$ -$ -$ 5490-Miscellaneous Revenue (e.g. Pancake
Breakfast, Holiday shows, etc.) -$ 1,858$ 6,100$ 2,116$ 2,250$ 5560-Tickets (Bingo, Oktoberfest, Dance) 17,240$ 19,364$ 14,900$ 18,374$ 17,550$ 5570-Sales (Rummage/Jewelry Sales) 3,000$ 1,256$ -$ -$ -$ 5580-Table Reservation (Wellness Expo, Arts
& Crafts) 17,000$ 14,430$ 16,800$ 15,640$ 16,300$ Total Earned Revenues 37,240$ 42,263$ 37,800$ 41,638$ 36,100$ Total Revenues 49,940$ 58,433$ 46,300$ 57,872$ 50,600$ FISCAL YEAR 2024-25 BUDGET
COUNCIL ON AGING
The City Council has authorized the Council On Aging (COA) to accept and generate revenues to support senior programming and services. The COA generates income from a variety of sources, including receipt of donations and fundraising through special events, to support quality of life issues for seniors. The COA helps identify the needs of seniors, develops and recommends solutions for senior issues, and administers and supports programs that benefit seniors. The COA Budget is approved annually by the COA Executive Board and its general membership. The COA’s Fiscal Year (FY) 2024-25 Budget is solely funded by fundraiser proceeds and donations to the COA and does not include City General Fund contributions.
The COA continues to adhere to City purchasing policies, fiscal policies and budget guidelines. The City’s Fiscal Services Division audits COA financial records annually to ensure adherence to fiscal policies.
30a/04-24
4 EXPENDITURES
7000 Contracted Services
7540-Professional Services (Admin.-
Bookkeeper) 6,800$ 4,446$ 7,800$ 6,550$ 6,000$ Total Contracted Service 6,800$ 4,446$ 7,800$ 6,550$ 6,000$ 8100 Operating Expenses
8110-Supplies (Adminstrative, Coffee, Misc.) 7,000$ 2,890$ 7,000$ 731$ 7,150$ 8112-Food (Misc.) -$ -$ -$ -$ -$
8120-Advertising 1,000$ 310$ 500$ 20$ 500$ 8125-Video Rental 240$ 206$ 240$ 240$ 350$ 8130-Membership Fees (Movie Permit) 400$ 303$ 400$ 340$ 400$ 8135-Investment - Int. Loss/Charges -$ 3,595$ -$ 2,154$ -$ 8140-Software License/Maintenance 6,000$ 3,761$ 6,000$ 2,500$ 6,000$ 8160-Equipment Maintenance 650$ 450$ 1,000$ 592$ 1,000$ 8165-Equipment Purchase 57,300$ 21,079$ 2,000$ 1,047$ 2,300$ 8170-Printing & Copy (Adminstrative) 700$ -$ 200$ -$ 200$ 8175-Postage (Adminstrative) 250$ -$ -$ -$ -$
8180-Furniture (New Account) -$ -$ 40,000$ 27,799$ 30,000$ Total Operating Expenses 73,540$ 32,593$ 57,340$ 35,423$ 47,900$ 8500 Program Expenses
8510-Supplies (Program & Special Event
Support) 4,800$ 5,577$ 5,390$ 7,117$ 8,650$ 8512-Food (e.g. Congregate and Senior Share
Support, Events) 8,950$ 12,010$ 21,620$ 14,842$ 24,100$ 8520-Advertising 1,000$ 650$ 750$ 1,602$ 2,900$ 8535-Community/Club Support (Senior Games,
Drama Club, etc.) 2,600$ 1,301$ 2,000$ 3,500$ 6,500$ 8545-Mileage (Senior Share) 2,400$ 445$ 400$ -$ 50$ 8550-Nutrition Services Commitment 20,000$ -$ 20,000$ -$ 14,000$ 8560-Prizes 4,800$ 3,607$ 3,600$ 3,600$ 3,500$ 8570-Printing & Copying (Special Event
Support) 950$ -$ 450$ 200$ 100$
8575-Postage (Special Event Support) -$ -$ -$ -$ -$ 8580-Musicians & Bands (Special
Event/Program Support) 10,650$ 8,567$ 9,500$ 9,100$ 12,830$ 8590-Special Expenses (Dial-a-Ride Vouchers,
COA Dances, Community Outreach) 3,275$ 3,291$ 3,275$ 275$ 420$ Total Program Expenses 59,425$ 35,449$ 66,985$ 40,236$ 73,050$ Total Expenditures 139,765$ 72,488$ 132,125$ 82,209$ 126,950$ ENDING FUND BALANCE 347,946$ 449,652$ 352,375$ 425,316$ 348,966$ 30a/04-24
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