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
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FY 2023-24 Operating Budget Highlights
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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
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Current FY23 Next FY24
FY 2023-24Operating Budget Highlights –All Funds
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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
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FY 2023-24 General FundRevenues$100.4M
Key Drivers for +$4.3M increase, 4.5%
Property Tax
Sales Tax
Transient Occupancy Tax
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FY 2023-24 General FundExpenditures $90.4M
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Key Drivers for +$4.5M increase, 5.3%
Labor Agreements
Contracts & Services
Materials & Supplies
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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
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Capital Improvement Program
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Capital Improvement Program
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Proposed CIP budget = FY24 only
Capital Improvement Program
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Projected = IT'S ONLY A PLAN
Capital Improvement Program
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Active Projects > Plan
Capital Improvement Program
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Prior Appropriations > Plan
FY 2023-24 CIPAll Funds $14.0M
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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
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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
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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)
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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
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Questions?
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