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2023-05-24 Introduction of Proposed FY24 Operating and CIP Budget PresentationIntroduction of the FY 2023-24 Operating & CIP Budget City Council Special Meeting May 24, 2023 Budget Development Process 2 FY 2023-24 Operating Budget Highlights 3 Balanced budget Revenues > Expenditures Funds reserves at policy levels Budget Stabilization:2% of Revenue Contingency Reserve:20% of Operating Expenditures Meets debt, pension and contractual obligations Funds priority Capital Improvement projects Infrastructure Task Force (Jan 2023 to 2024) findings will inform FY25 budget Projects $1.0M General Fund unassigned ending fund balance Was $2.0M in workshops; staff to request $1.0M for Lake Drive in June FY 2023-24 Operating Budget –All Funds 4 Current FY23 Next FY24 FY 2023-24Operating Budget Highlights –All Funds 5 Revenues $125.4M Sustained growth over current year high property values, TOT, and sales tax Expenditures $118.8M Funds Council Strategic Goals Adjustments for inflation and enhanced service levels Includes adjustments discussed in Budget Workshops FY 2023-24 Operating Budget –General Fund 6 FY 2023-24 General FundRevenues$100.4M Key Drivers for +$4.3M increase, 4.5% Property Tax Sales Tax Transient Occupancy Tax 7 FY 2023-24 General FundExpenditures $90.4M 8 Key Drivers for +$4.5M increase, 5.3% Labor Agreements Contracts & Services Materials & Supplies 9 Focus Type / Dept Project / Request Increase PRCA Pacific View Startup Furn & Fixtures, PT Arts Coordinator (0.75) to FTE ($23K), PT Facilities Specialist (0.75) to FTE ($26K)$485K PRCA Increase Habitat Stewardship Funding & Maintenance/Monitoring Plan $150K PRCA E-Bike/Bicycle Safety Training with School Districts $75K PW Zero Waste Administrator (New FTE)$0 DS Sustainability Management Analyst (New FTE)$0 Fire MS Lifeguards (2 New FTE)$0 Fire MS Marine Safety Lieutenant (New FTE)Increases supervision from 4 days to 7-day coverage $132K DS Housing Management Analyst (New FTE) Increased workload due to Housing Element site development $137K Fire Fire Administrative Training Captain (New FTE) Co-op share,Incr training req per State mandates $155K PRCA Mobility Manager (New FTE)$150K Includes $1.3M added at Budget Workshop on April 19, 2023 FY 2023-24 General FundExpenditures $90.4M Capital Improvement Program 10 Capital Improvement Program 11 Capital Improvement Program 12 Proposed CIP budget = FY24 only Capital Improvement Program 13 Projected = IT'S ONLY A PLAN Capital Improvement Program 14 Active Projects > Plan Capital Improvement Program 15 Prior Appropriations > Plan FY 2023-24 CIPAll Funds $14.0M 16 Five-Year CIP Plan $57.4M projected FY24 –FY28 $ 8.7M, 15% General Fund FY 2023-24 Capital Budget Funds Council Strategic Goals $14.0M All Funds $ 3.6M, 25% General Fund FY 2023-24 CIPGeneral Fund $3.6M 17 Includes $1.6M from CIP Plan adopted June 15, 2022 Focus CIP Project Proposed ADA Curb Ramps Project $ 50K General Mobility 300K Housing Element Update 500K Innovative Bike Lanes 25K Park Improvement Projects 236K Safe Routes to School 200K Storm Drain Repair 250K Traffic Safety and Calming 75K FY 2023-24 CIPGeneral Fund $3.6M 18 Includes $1.9M added at Budget Workshop on April 19, 2023 Focus CIP Project Proposed Annual Street Overlay –Add Streets (Rodney, Turner, Shields)$ 240K Citywide Rail Corridor Quiet Zone –Analysis and Permitting 250K NEW La Costa & Vulcan Ped Paths –Design 311K Leucadia At-Grade Crossing –Design and Environmental (Grandview/Hillcrest and Glaucus)375K Santa Fe East Corridor Improvements –Construction Grant Match 500K Storm Drain Repair –Increase Funding (Doubles annual budget to $500K)250K Capital Projects by Status •Reflects priorities established by the City •Budget Workshop additions: o La Costa & Vulcan Ped Paths –Design ($311K) 19 Next Steps Introduction May 24, 2023 Receive input Provide direction regarding revisions Adoption June 14, 2023 FY 2023-24 Operating and Capital Budget Final Consideration & Adoption 20 Questions? 21