HomeMy WebLinkAboutCC AG PKT 2015-02-23 #F AGENDA STAFF REPORT
DATE: February 23, 2015
TO: Honorable Mayor and City Council
THRU: Jill R. Ingram, City Manager
FROM: Victoria L. Beatley, Director of Finance/City Treasurer
SUBJECT: FISCAL YEAR 2015 MID-YEAR BUDGET REVIEW
SUMMARY OF REQUEST:
That the City Council receive and file the Fiscal Year 2015 Mid-Year Budget
Review presentation.
BACKGROUND AND ANALYSIS:
Staff has completed a mid-year budget review ending December 31, 2014. The
following are the highlights of the review of the first six months of the current
fiscal year:
The largest sources of General Fund revenues for Seal Beach are Property
Taxes (all components), Utility Users Tax, Sales Taxes (all components),
Property Tax in Lieu of Vehicle License Fees, and Transient Occupancy Taxes.
Together these top five revenue sources are expected to produce approximately
72%, or $20.6 million, of all General Fund revenues.
The combination of these revenue sources has generated approximately $7.4
million for the period ended December 31, 2014, which is $311,000 greater than
the same period last year. The primary reasons for the increase are
improvement in property tax, sales tax, and barrel tax.
All of the other General Fund revenues combined are less than the same period
last year by approximately $367,000. The primary reasons are declines in
Business License revenue and Interest Income.
General Fund expenditures are approximately 50% of budget, which is where
they are expected to be for the period ended December 31, 2014. Additionally,
compared to the same period, total general fund expenditures are more than the
same period last year by approximately $1.2 million. The primary reason is CIP
transfers for the purchase of the property on Ironwood (SD-1401) and the
Lampson Avenue landscape project (ST-1410).
Agenda Item F
In summary, revenues are slightly below expectations and expenses are in line
with expectations for the period ended December 31, 2014. Attached for your
information is a Schedule of Sources and Uses by major categories. The
presentation will provide financial highlights and will go into greater detail
regarding the year-end projections.
ENVIRONMENTAL IMPACT:
This action is exempt from the California Environmental Quality Act, because it is
not defined as a "project" under CEQA.
LEGAL ANALYSIS:
Legal Counsel has reviewed and approved as to form.
FINANCIAL IMPACT:
Based upon the mid-year review, it is expected that both revenues and expenses
will be in-line with the adopted budget. Under the direction of the City Manager,
Department Heads will continue to operate within the budget and provide
programs and services that meet the community's needs and service level
expectations.
RECOMMENDATION:
That the City Council receive and file the Fiscal Year 2015 Mid-Year Budget
Review presentation.
SUBMITTED BY: NOTED AND APPROVED:
V/� loot,"
Victoria L. Beatley Ji : Ingram, bity M ag r
Director of Finance/City Treasurer
Attachment A: Schedule of Sources/Uses
Page 2
a
v
E
n cr v �o m °o o In �o m b N N m gs m
T tl' N W h O o m V M W M Ol M 60 m IO M1 l0
I O O m m +Y T O W N IO ry a ri
N h .i N tl N Z O
N a O �P N m a N a O t0 O N O lO N T N o 7
O tO h Lq T cf h N lO m h m eY Ol C N [F O +i IO o°
o Q r 00 O1 �® �Y I� N h N T o O m Ih . T
a ry ry V N v1 P O� 00 M ul h BO N �O vl m o W
It O O 10 h
m •+ a m oo n m oo m m m � -- io h m
O
N O IO N l0 b m m m l6 M m W W m M m
W h cp v°I DO 7 O N Of M N ul N N M M lO h m l0
p b N cp M tl m O m 00 M M Oi h N ey . m m O 'i
ry Q T m m O� h m W h O Ol W P O m O m
N N m IO Ip et N vT T h �6 m m W O h O W Oi
N tl M e°I n 01 1p lD N P O d� N VI Ol N
p E N h h h h W O [F e¢ M w O N w O w w M
'. ^ N W d'
d d..
0
0t M T
m N� M N h a of
Ol Ol O lD l0 o m DO O 00 O l0 O �1' a O
w
tT N VI f+ h W O fV O q h h
m N m O N Y1 Ol
lO o0 M el' � m m t0 d' eP c; M M m of tl N Z � [P
N
l0 N W 1p O m b O1 T M n O fi M N W m O N m m
d ✓1 OI O m M O OI [$ N V O m h N N Ol h vi W VI
U VI m b O q o h Da N l® N m O N O m IO n M dT
T M 01 m m l N m m N T h m O IO N m lw O m N W
\ C N N W W h P N W OI m m V Of m m o M O '� N
: n t® N M P M w �O O T w O5 lO of w pp� w 60 a P
m R'... N Ol dN' om N N lP0 N d0' a N MMI ! m c? H t0 T l0
> S
r m
d
m N f O h O h h m O M n W N n O m
N O Ot d' M 1O O O m h m O 16 N M1 M1 O P e¢
a N O, W [h V M m 6 N h m W O OI h Ol V lO h l0 m
�. h m o h w N O Ol M h �h M O m M1
E oc m m Io Io m c e c a P
O •i Q W NI b T N P O1 O M Ol 00 DD T w OI N h 06
N O1 m h DD z m m P h l0 M m N tl'
O N T Ot m T
O b O O O O O o O O O O O O O O o O O O
o O O O O O O O O O O O O O O O O O O O
ry y O O O T O OV m toff O � 4 O I O o O N ® OOl O
N vl Ol m h O o P �F M P O w o N'
p , M1 N N m N � h N Ol 00 lO m W Ol OI � O vY O V
N m m N N O m T P l0 N N vY W h N lO
01
� d
� d
m _
e$ a c
m y c m n
°y
cc
c u
N
O O l7 'u iJ iu x �j ii ii iL K 2 ar 10
tJ R A N N A A N N N N N A 'r A A A 10 l0 C O
o r r r r r r r r r r r r r r r r r r r z
ut
� d
� z
m
UJ e
L O
� w
O .-a N M eP m Ib i0 h W m OI O
Q C O O O O O O O O O b O O O
N pS d
H yay
0 tlC W
C C
� LL
� � R
qi 0!
O C
O o o o O O O O O O
N IL 4.7 l7 0 o b b O O b b o 0 0 o O
Q
c
w
E
s
a oe a e e a oe a ;e ae ae o o ae a 0
0
m to N tl m l® o P m 01 CM1 O o
ry o m W q o m N to m m m o Io w
o .a m m PTa p ro ? Q r� Q vi
2 Z 2 m
m m Z Z
N ,
10 N O m O P P O m O zr O m M O 1!1 W l0 W W O T 01
d' O l0 O P ei O m O v°I l® P O O T N O W W O N W N
�1 P m ✓1 lLl ® LT h h O 1 o0 ✓1 W 0 V9 Ol lV tll O O m w m w N
W O O Q m N M P g O O W W W tD w O g d' O w m d' W o ei
N W W h l0 N m vl W m ®1 N W m 01 m P V
C M N tD P .-e d' T l0 N LII h O h lO N N h N P
to � a m m W � m m a1 N N n
1°v o E a .. m �.-- ._. M
� u
°
n o m b T T m
G Y+ vi of o h ® o Oi ® ui N v4 I® uj O b mIm
ry Q P cl O m •g t� 01 W Ip N C ✓1 <¢ c
•°1 N M W W N w T O w O P b W lc�'l a h OV N h I�+9 cp a eW-e .P-1 w O n
N? E W .Na N N N 'i •° V v-1 N vt
LL N N
LL O
a a o o a a a a a e o a a a
V O P O1 Ol ,-1 P M Ip N If1 M lD P lJ N� W
N b N e1' 1p ID O T Q OY O Q P Q N P lD lD ✓1 Q N N
O P W b lLl l0 N \ 00 N T
N 111 10 a +$ N M Z a N Z T Z M N T e} Z ¢ [¢ M
W N
W O N O w O N O et o m W O N m .� N m W
Ib O O O Ip N ✓1 d' O vi 1T P <P O l0 m N W N N
7 w O m N O N W O P 1A O O N a N O T Ol R1 N
Q O I N M W W N 1p m O m N T m ei T O
^ a o O c P m T w N m P 111 N l0 N 1 T W 1p l0
m O try` O w N CP lO I� Ip CIl O P CIl Ol lD N O h b
d N W tl' tD O P N W m cb• T m M M oo
c ' H 01 O d' m N N N N P N IO W tp
7 N N N
N
w
w1
d
N O W O M d' O O1 O 10 O N [P O W 1l1 V1 O1 W . N
` M O OI O M P m m b W Ib P T O M eT W W O W W P
O o oY eP IO CIi P �H O N 00 of M O n m W m l0 O IO P
W O W N W W lO W P W IO c¢ O O P Ib IO W W b m
W N Q1 O O m m N Vl O T Gl N IO <¢ P T
W N ° u9 =i P o0 I� a h CO tp W 05 IO o M O o N N ul n m
T ti 000 m m ti ry m M .ma =° My m 1bn m
O � y m rv1
O n O o° O b b o o o o O o° O o O o o O
O o o b O b O O n O o O o O b b o O o 0
® o o o o o o 0 0 6 0 o' o o o o o o o
ad o b O o o o O o O o b o o o O o b O
m T O lc c T N (i N P c M O li ll N
Iy y v M ri a O N La 111 IO O o m w o lO Vl C5
O '� m O T m lO M O V1 m m O O O
1p ,-I 4T vi r N
w
C
� •Z � d d
� aaCC Wy m N K W
uW N M C u U
LL i a u c $ E w v w
a
o
c u Y c E c u'S Yn e 3 c d c a �' w
0 0 m w 3 c m w a e 2
a a c e 3 o
CL d ° ° n u O z
`u m m n n O y c v ° m m e 3 E A w v m c m m
O f H a a u m m m o o c o 0 0 o c o 0 0
In
w n n 3 a
41 a
D
> E>
� z
N c
'o
Iv o Im d' m 1fl T
IQ Q O O O O O O o o o
O O O O O O O O
0
O
_a)
7
QU
L
U u O o O O O o O O O O O O O O
N O O b O O b O O O b o O O O
¢
v
E
t
N coa t w N m n S a� m of aao� m m o<r a 0 o
w w om f
ry N m w w ao
n m •a-e u' tiros .1Oe ry m °o a m n w owa ® ry ® Q
7 z z `z
,-o
iq Iq <r q o
W M b +°e 1 o O N h O w m O a m N
t' T O n CJ w m n O m o tl ® 00 w m O
d N Q N w Ol Ol o O ? O O�
m P
w N O iO T eY 00 w Ot T m P N
C T d ✓1 ✓1 l0 W O T 7 n l0 V � H � v H N
m
N o a d m
N
N .-1
g.
m
p N ® ® N1 cF Oi M M B® 66 O O eP w
ry Q w w l0 n m m lO M M O h h N � W 00
d N �
d
O O lb w N N n tD P O O� M O 01 O h et b
O O M N w n w T l0 N N n N m N e1' T O M w Q O
d' O w w W M lO w O o P ® N w m o O
et O eY cY '� a4 w T w w l0 l0 to n lO b6 O� O h �O Z O
M d' N N h N M u5 w eg M N u o w o
y O O O W m N m O O N Ol N N h T m O O O
2 u N
m m I o h V Oi P
O h Ol N h 00 rR M N O w T ifl n O �O O
M N IO w -i M N d' M M T N rtf M
N O w m Oi N O N P 00 P h ul Ol er T W N Ol
O , N H v O
m
d
dl
d
ce m rn w io m n m q <t w
` m o M T . n O m m P O ao N �o o m of
A o r o o ® ry m ry vi o w a od a a a® o®
N o o n N w rl ll a m C w N oo m
E a w o ry m N w of n T io m m m o ao � o
V� � d' ✓1 �
l~0 O M W M M
get m
b b O ® O O ® O o O O O O O ® O b O O O o
o ® ® ® ® ® ® ® n b o b ® O o o 0 o o o o
p ® ® o o o o o o o o O o o O ® o o o o
ry d O O O O O O O O O O O C O b O O O O
m M O
O O N O N cY P w O O M O N O O
�y y Ol r .°I Y Y N T O 6 O N M O O
w w N
00 � W O � d' vi N O � v P N� T M
l0 N
T
d d
C y y
X N N N N N N
IL C C C C C C C C C C C C
d d d d d d d d d d d d d
d? > a{ > ■o. > o. > a > a > ■a
C 5N 9 01 G! U 1� N o
N N Of o O O N N N N M M
q ¢ m 'e 8 8 8 pp o 0 o 0 0 0 0 0
p c ° m m c e v v v v v v v v v c v v
C d N LL C C C C C C C C C C C C
.a C N ` = H N w � LL LL LL LL LL LL LL 4i LL LL 4L lL
a+ 5
m
o m
vt
� a
E
w z
N e
u o
u N o N M $ O O
w n n n P n w o o w o
Q Q o o 0 o o O o w w a w n .a
H
0
O
Cu
N
t
U
.a ry m
V1 u a o 00 00 ob O O O o o n o 0
Q
c
v
E
v
w o
M
A VI lO m [P O w w w O N
a T ul n N N O W lD h N N 01 T a m
o d'T N OT O w n N w O w
O T a m
w �D N P M h l0 w N N m T h O m N O w m N
O N h w h M
N N M d M N N
� d
y
a m iO m i0 h O m of w w N O N of h vl ri M w v9 tl'
O N N T T P q w eF w T h N P h N
p n O ✓1 O h .-I vl m m N w M� N9 T m m m h N
M O T iO h
w m M m O M m �D P P m N M w w
W l0 P T h M h
l0 l0 ul O i h N N 1p [F N O1 10 d' N Y1 W h Vi
w m M m m eP M m m O l0 w M n N O T m
O
d
O
M �O N m
T $ w m
O? m ep �O N
m \ e9' tV 01 ® l® Ob T ei m V1 V1 N Ob 00 w a$ O1 U1 Ib �®
m M m m O T 1p O N l0 N O N P T O w h M N
w h P m T O m I I N N 4p w 1p T m N O m m 1p m
O d w M Ul w a ® w h h M N h of M w M ® m I Oi
t�JJ O1 P ll N ul 00 \i o et T eY W �O �O vl 01 h N
m w '� h T O .-e w n O �0 N h M m M T
d m d' N M w w N <F N et eT m tl' w N
C ' v N m N M v T N w N O [f T w T l0
N eP
a
d
w
d
w T w w M .-9 [f lD O P O O l0 M V
d N .O N N vMf P .~s O w vw9 M w W ® O h W
E v O m w n o io m m o
u .a Q n ri N et a N m m et m m io N a m V N rci c
O N O n T P P M ✓1 w T T O l0 O m N N T m
m lB T of N VI N N N h •9' '� N m �f w lD
O O O O O O b O O O O O O O O O O O O O O O
O b O O O O O O O O b O O O O O O O O O O O
O ® O O M O O O tl O O O d' of O ® CJ ® O ee O w
Nd O O O O O O O O O O o o h 00 O O O O O T O W
R N m �O O tl a1 I a0 00 cP (3 of oc O T h W m
�y 9 v W W W O m n h w w C N 10 v-I N T ✓1 VI N O
on N h O O M� w w n N O w w h m T h N
N m d' M m O
� d d� .m N v .y N .-I r ✓1
O
A L
J
� q
m
J d d
C C C C C C C C C C C C C C C C C C C C C C
d d d d d d d d d d d d d d d d d d d d d d
w x w W w x ■ ■ W W x a' ■° x°
cc W 1' W a' w W w W K W C K WW C W C W l W
b oD P P m o O G
ei ei A rl .-1 N N N N N N N N N N O O
co O O O O O O O O O O O O O O O O
p 9 9 9 9 9 a 9 9 9 C V D 9 9 V 9 9 V
C C C C C C C C C C C C C C C C C C C C C C
•ya lL lL LL LL LL LL 4Y LL LL LLLLp LLLLp LL LL 4L 4L LL LL IJY LL IJi
N
Q) m
j E
J
(U z
v 1.
J
L °u o o O o N w w m o m vi m
O O of w N N N w m m N P
O Q w m m m o o w w o a m m
N
0
O
N
7
GJ
o o o
VI LL b O O O O O o O O b b o O O
Q
c
v
E
fi
Q e o o o e o e2 of `E o a2 eC o e o oC '.R `F o e
O Lq Od1 lNa T b O O d N O o n T h N Iq N m N
m o N N o O N O al O Q` h Yl m Y a1 lD d o vd Yl
W al �A O O N Ol N O Z P N M N a
N N P O ✓1 N .m W O W d W M ®1 IF W h h N h N O
Y W O al c 1 d N T la et la . m M O N O N W W P O N
T m W W m O O W N M N W
P W a� W �D d h Vi W T T N d
d
O
W o o° ur o`o W b n O m
ti m M b m N er M m q W m ry n ui �o m o n w d
p to ao m ri as o w m ti P o m m
ry Q �a d �U N al m m W �D W O N em-e h W N P m d O
O la P P m m P at M P W d m N M of P N N la d
a ri ai ry m m n w vi o n ri r ai m of o m o io` m ai
P w N �D d� T P M1 v¢ N� P n w O T N N N
b N N m m
gv
g e o o
ri Q Q d o W W T b o Q d o W m N n w W m n m
r� ry w o ro o ti ri o m m ri
P P Z Z m o W m W m o Z al d h m d d W m
IR ONO O O h O O O O O O W N h N W T I W r
i y m O N o h m m m O o t® tl h h d d
W m 6 d W O N W ll O
1 al W m N O d h W W �O
� C w W d W N w d O T 1 N la W W
� � al 05 N N P a1 m tp
16
� m w
... M
v
m
d
�a W O n al b O O b N �d d P T N m 00pp O W
r N P N h N W M
d N i W N O N W N N I!1 m o W T m Vl N m m ill
T v1 O � T P d M m O T W d h a1 of N M
W N W M 1p d' n T a1 of m I� N n N W N 60 a�
N v-1 N
a
W m m N
O O
O O O b O o O O O o O O o O o O O O O O
O O a O O O O O O O �. b o O O o, O O O O O O
16 W O o o O o O o o o O O o o o o o o O
N O O O O O O O O o o O O O O O O O O o O
N y W m m O N O O O lD
h P
N N $ c $ 3
c c c e e e e c c c c c c c c
c c e e e e c c c
d d d as m at a m a at d a ar d d at a w m m d a d
faxt a a m m te a( fa■t oaf a a a a o of
7. W C WW K W G' W C W Y W C W R' W 1' W 1' W 6' W K
c O O O O O O O O O O N N N N N N N N N N
p V 9 9 9 9 9 9 9 9 V 9 V a 9 9 9 9
C C C C C C C C C C C C C C C C C C C C C C C
n LL LL LL LL LL LL 4L 4L 4L LL lL LL fLL�pp LL LLLL�pp LL LL LL LL LL lL 1LL�pp
Y IS c Ic Iy0 A 10 R V r w H Y r� ad r N r H Y
C r F f f H H H H F H F F F F F f H H H H F F F
� a
� E
� z
U1 c
u o
°u m o m m o m o b o o
p ¢ m ov m o o m a a a a
O
Gl
7
N
u and a a n o a o o o
(/� u o o O b
Q
c
v
E
Q
0 o r m w m
m
M z
m .+ �n M � N � •P
W N a m h N M N 00
N E a m o
Y N
a m o O m o m o n
m o o ry o oo In m
w °n n
N N O N h h 1p m 10
~ a
N N N H ® N Oml W
N uE 0 D M N
IVl`lll M o
W N N
0
T O eP O g lO N
T O N M m m p h
oo o m M o m us o 0
Ul N ro h m M ID l6
N
d
1� o N W m lO W
1� O N
N N w eP N M h
\ C N •f �D 00 � O
W M M m a N M
m > o
v
00
m
a
E N m O N I V N O M mV
gNa N N N N idTl l~O W N
O m w m m
N
® o o o
o a g
o a
o ri
c
N m
N N lD T
■W W �Wt W }w}� w W
o o o o o cl S d
C N N N m m m m c
aLL LL LL W C
3 9
ul
r°-
N a
In z'
v
O 3
p Q a a o 0
N
0
O
N
7
v
v o o o o
(n u ry N m m