CC 06-04-2024 Item No. 14. Fiscal Year 2024-2025 Budget Adoption_Updated Staff PresentationJune 4, 2024
Fiscal Year 2024-25
Final Budget Adoption
CC 05-30-2024 Item No. 14
Updated Staff Presentation
Proposed Budget Changes
Additional Information
Next Steps
Agenda
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Proposed Budget Changes
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Roadmap to FY 2024-25 Budget Adoption and Balancing
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FY 2024-25 Proposed
Budget
-Community Funding
-Festivals & Fee Waivers
Budget Update
1st Quarter Report
Budget Update
Mid-Year Report
Fee Study and
Revenue Tax
Measures
Budget Update
SLR Review #2
FY 2024-25 Adopted
Budget
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October 2023 November 2023 January 2024
April 2024 June 2024
February 2024
Community Budget
Meeting #1
Commission/
Committee Feedback
Labor Contracts
March 2024
Budget Update
3rd Quarter Report
May 2024
City Hall &
Blackberry Farm
Update
Community
Budget Meeting #2
Budget Update
-Audit Update
-Committed Reserve
Revenue Tax
Measures
December 2023
Budget Update
Capital Improvement
Plan (CIP)
Last Updated 5,23.2024
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Proposed Budget Expenditure Changes
as of June 4, 2024
Fund
Proposed
Budget
as of May 1,
2024
Operating
Changes
Proposed
Budget
as of June 4,
2024
General Fund 89,938,989 102,805 90,041,794
Special Revenue Funds 13,956,348 - 13,956,348
Debt Service Funds 2,676,200 - 2,676,200
Capital Projects Funds 22,057,580 - 22,057,580
Enterprise Funds 9,271,222 - 9,271,222
Internal Service Funds 8,643,349 -8,643,349
Total All Funds $146,543,688 $102,805 $146,646,493
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Description Revenue Expense Change in Fund Balance
GENERAL FUND
Animal services contract increase - 64,350 (64,350)
Reduce permit parking and crane lift fees (21,200)- (21,200)
Artists Award Program - 2,050 (2,050)
Community Grant Funding - 32,500 (32,500)
Festival Costs - 3,905 (3,905)
TOTAL GENERAL FUND (21,200)102,805 (124,005)
SPECIAL REVENUE FUNDS
Increase SB 1 (Gas Tax) Revenue Estimate 212,614 - 212,614
TOTAL SPECIAL REVENUE FUNDS 212,614 - 212,614
TOTAL ALL FUNDS $191,414 $102,805 $88,609
Changes Since Proposed Budget Printing
as of June 4, 2024
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Proposed Budget Financial Overview by Fund
as of June 4, 2024
Fund Revenues Expenditures
Change in Fund
Balance/
Net Position
General Fund 89,804,468 90,041,794 (237,326)
Special Revenue Funds 18,829,495 13,956,348 4,873,147
Debt Service Funds 2,676,200 2,676,200 -
Capital Projects Funds 13,635,000 22,057,580 (8,422,580)
Enterprise Funds 6,608,500 9,271,222 (2,662,722)
Internal Service Funds 7,784,696 8,643,349 (858,653)
Total All Funds $139,338,359 $146,646,493 $(7,308,134)
Additional Information
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Department Revenues Expenditures
Council & Commissions 0.1 0.2
Administration 2.8 0.5
Administrative Services 5.1 0.5
Innovation & Technology 4.7 0.2
Public Works 1.8 7.5
Community Development 2.8
Law Enforcement 0.4
Parks & Recreation 2.3
Total $14.6 $14.6
Cost Allocation Plan
(in Millions)
Link to OpenGov View
FY 2022-23
Amended
Budget Q3
FY 2022-23
Amended
Budget Q4
FY 2023-24
Adopted
Budget
FY 2023-24
Amended
Budget Q1
(750-061)
Community
Shuttle Pilot
Program
$ 836,485 $ 825,911 $ 0 $ 10,574
Special Project Carryover Example
10Link to OpenGov View
The $10,574 unspent in FY 2022-23 is
carried over to the FY 2023-24 budget
and reduced from the FY 2022-23
budget
Next Steps
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Next Steps1
May 21, 2024
Proposed
Budget Study
Session
June 4, 2024
Final Budget
Hearing
and
Adoption
Nov 2024
1st Quarter
Financial
Report
1Additional meetings to be added if needed
Questions?