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HomeMy WebLinkAboutFin Citywide Budget FY2025-26, Gann, Measure A Workplan, and CIP PPTFINAL PROPOSED BUDGET FISCAL YEAR 2025-2026 CITY COUNCIL MEETING JUNE 2, 2025 FY 2025-2026 FINAL BUDGET ADOPTION RECOMMENDED ACTIONS 1.Resolution Approving the Citywide Operating Budget and Capital Improvement Program Budget for Fiscal Year 2025-26 •All Funds Budget - $192,282,438 •Capital Improvement Budget - $15,958,204 •Authorized Staffing Levels - 416.15 Full-time Equivalent positions •Authorize carry-forward of encumbered FY2024-25 year-end appropriations 2.Resolution Approving Fiscal Year 2025-26 GANN Appropriations Limit - $197,230,566 3.Resolution Approving the Measure A Workplan for Fiscal Year 2025-26 - $580,000 4.Approval of Capital Improvement Program – FY2025/26 Through FY2027/28 FY 2025-2026 FINAL PROPOSED BUDGET SUMMARY Fund Sources (Revenues and Transfers In) Uses (Expenditures and Transfers Out) General Fund $106,390,855 $113,248,847 General Plan 659,391 783,450 Special Revenue Funds 42,726,454 42,967,373 Enterprise (Parking)Fund 4,797,474 4,701,164 Internal Service/ Capital Replacement Funds 25,837,020 26,867,601 Capital Project Funds 8,824,501 3,559,000 Trust/Fiduciary Funds 17,709 155,022 Citywide Total – ALL FUNDS $189,253,404 $192,282,438 Less Internal Service Fund Charges/ Transfers $(28,504,549)$(28,504,549) Citywide Total – Excluding Dual Appropriations $160,748,855 $163,777,889 FY 2025-2026 FINAL PROPOSED BUDGETREVISIONS FROM MAY 19TH DRAFT BUDGET Fund Draft Budget (May 19th ) Final Budget (June 2nd ) General Fund $113,356,822 $113,248,847 Personnel (Salary Savings Adj.) $ <107,795> Special Revenue Funds $42,791,356 $42,967,373 Gas Tax (206) $ 75,000 10,814,204 10,889,204 Paramedic Fund (210) $ 50,000 10,105,208 10,155,208 Measure A Fund (241) $ 50,000 400,000 450,000 Capital Project Funds $3,020,000 $3,559,000 Capital Fund (401) $ 539,000 EV Charging Stations Project (CIP) 515,000 1,054,400 FY 2025-2026 PROPOSED BUDGET GENERAL FUND RESERVE LEVELS FY2025-26 year-end Reserve projected at $19.98M Reserve Policy (15%) = $16.96M Assigned = $ 2.50M Unassigned = $ 0.53M Adopted Budget FY 2024-25 Adjusted Budget FY2024-25 Projected Results FY 2024-25 Final Proposed Budget FY 2025-26 Beginning Fund Balance 34,356,376$ 34,356,376$ 34,356,376$ 26,846,665$ Total Revenues 103,790,510$ 103,790,510$ 104,290,823$ 106,390,855$ Operating Expenditures 102,033,257 102,606,344 101,542,034 104,538,430 Transfers 10,258,500 10,258,500 10,258,500 8,710,417 Total Appropriations 112,291,757$ 112,864,844$ 111,800,534$ 113,248,847$ Change in Net Position (8,501,247) (9,074,334) (7,509,711) (6,857,992) Ending Fund Balance 25,855,129$ 25,282,042$ 26,846,665$ 19,988,673$ Reserves (Policy Level)17,843,500$ 17,929,000$ 17,770,000$ 16,955,500$ Excess Reserve Balance Assigned Fund Balance 6,500,000 6,500,000 6,500,000 2,500,000 Unassigned Fund Balance 1,511,657 853,042 2,576,665 533,173 8,011,657$ 7,353,042$ 9,076,665$ 3,033,173$ FY 2025-2026 PROPOSED BUDGET ALLOCATION OF FUND BALANCE Transfers $8,710,417 Operating Programs / Projects $ 2,710.417 Transfers to Other Funds: Liability Fund $ 2,500,000 Capital Fund 1,500,000 Streets /Roads (Pavement Maint.) 1,000,000 Vehicle Replacement Fund 1,000,000 $ 6,000,000 Assigned Fund Balance FY 2025-26 Capital Projects / Grant Match $2,500,000 Unassigned Fund Balance (6/30/26) $ 511,698 CAPITAL IMPROVEMENT PROGRAM FY 2025-26 CAPITAL BUDGET SUMMARY •* Annual Programs Capital budget EXCLUDES appropriations supporting • operations and maintenance FY 2025-26 BUDGETAUTHORIZED POSITIONS SUMMARY •Total Proposed FY 2025-26 staffing level •Permanent FTE = 396.44 •Fixed-Term FTE = 19.71 Total Staffing 416.15 •Overall reduction of 0.19 FTE from FY 2024-25 Adopted Budget •Permanent FTE = + 6.81 •Fixed-Term FTE = - 7.00 Item 6.a. Ex. IV •Staffing levels remain well below FY 2007-08 levels (FTE = 445.08) PERSONNEL STAFFING TREND FY 2025-26 GANN LIMIT FY 2025-26 GANN LIMIT = $197,230,566 Appropriations Subject to Gann Limit = $108,544,577 CONCURRENT / NEXT STEPS •Approval of FY 2025-26 Tax Rates (June 2nd) •Library Parcel Tax •Paramedic Tax •Special Assessment Districts •Master Fee Schedule (June 2nd) •Review Fees and Charges and assess adjustments required to maintain target cost-recovery levels •Maintain/Update financial forecasts •Monitor economic trends and signs of possible recession •Monitor impacts of changes in State and Federal funding allocations •Impacts of addressing significant under-funded infrastructure and deferred maintenance needs •Assess the City’s financial ability maintain current service levels and staffing based on updated forecast and upcoming voter-approved tax measure renewal dates: •Measure D – Library – Expires 2026 •Paramedic / EMS – Capped at current level (2024) •Measure R – Sales Tax – Expires 2032 •Other Needs – ex. Stormwater Fee (TBD) •Alternative Revenue Measures FY 2025-2026 FINAL BUDGET ADOPTION RECOMMENDED ACTIONS 1.Resolution Approving the Citywide Operating Budget and Capital Improvement Program Budget for Fiscal Year 2025-26 •All Funds Budget - $192,282,438 •Capital Improvement Budget - $15,958,204 •Authorized Staffing Levels - 416.15 Full-time Equivalent positions •Authorize carry-forward of encumbered FY2024-25 year-end appropriations 2.Resolution Approving Fiscal Year 2025-26 GANN Appropriations Limit - $197,230,566 3.Resolution Approving the Measure A Workplan for Fiscal Year 2025-26 - $580,000 4.Approval of Capital Improvement Program – FY2025/26 Through FY2027/28 Thank You… END OF PRESENTATION