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Home My WebLink AboutSupplemental Information Received after Posting of Agenda - PowerPoint Presentation Budget Study SessionCITY OF SEAL BEACH BUDGET STUDY SESSION io�4 -e4. i FISCAL YEAR 2017 -2018 OVERVIEW FY 2017 -2018 Budget Study Session -- Schedule -- Wednesday -May 24th 5:30 General Government and Safety Public comments at the end of the presentation Tuesday - Nay 30th 5:30 Cappital Improvement Progam /Fleet Public comments at the end of the presentation Monday - June 26- - Budget Adoption - �zmze.mwwon.nw- w.x..mtz z OVERVIEW FY 2017 -2018 Budget Process January, 2017 Expense and personnel worksheets are released Revenue information begins to be compiled Finance staff coordinates deadlines for receiving information from departments Department Heads meet with City Manager to discuss budgetary needs and supplemental requests Preliminary, budget is developed April City Council and Executive Team Goal Setting Workshop May Staff meets individually with Council Members May proposed budget is completed and includes supplemental requests as appropriate May Budget study sessions June Budget adoption 5/24/2017 Il Municipal Budgeting 101 D What is a budget? ➢What is a balanced budget? ➢Balanced throughout the year? OVERVIEW FY 2017 -2018 Budget Process Budget development: Zero -based budgeting Developed based upon Federal, State, and City Council Mandates Supplemental requests OVERVIEW FY 2017 -2018 Budget Process Budget development (cont.): Revenue - Developed using prior 3 years' actual receipts Adjusted for one -time events Based upon current economic conditions Expenses- Based upon historical costs Adjusted for one -time events and known price... increases r� Personnel - Based upon existing agreements , 5/24/2017 2 5/24/2017 OVERVIEW FY 2017 -2018 Budget Process Budget development (cont.): Capital - Project costs use Engineer's estimates Reserves - Based upon adopted Fiscal Policies Mission Statement The City of Seal Beach provides excellent city services to enhance the quality of life and to preserve our small town character Core Values /Guiding Principles (netinpmrii, , ,) The City of Seal Beach Values: Excellent Customer Service Mutual Respect Teamwork Professionalism Honest and Ethical Behavior City Council Goals 03 -year Goals (2016 -2019) - not in priority order Z)Pmvlde a quality beach and pier environment, including a restaurant DAchieve short- and longterm fiscal sustainability ❑Improve and maintain the infrastructure and facilities DAttract, develop, compensate, and retain quality staff 13 Enhance Public Safety Budget Goals ✓Resent balanced budget -'Preserve current service levels ✓Reserve core work force ✓Maintain 20-25% fund balance Budget Challenges ),oil Related Pevenues ': Franchise Fees ➢Structural Changes in CaIPERS Practices (continues) ✓Rcductbn In Ne d)wmnt rate (rew) ✓Amornza[wn aM Pate SmmNing ✓wPondity ✓miti pabNtY inrange County Fire Authority Dloinl Pov mInsurance Authority - maw +ewnwv- rra,mz tt 5/24/2017 Cl REVENUE PROJECTIONS Revenues Revenues: Top Changes in Projections: >Property Taxes - $268,100 ➢Franchise Fees - ($172,600) >Transient Occupancy Tax - $100,000 Dearrel Tax- ($50,000) 5/24/2017 5 Ill o o o o al 0 0 o Q ioolQ0000® o o��_d�9_� 5/24/20'17 0 Property Tax 2009-2018 Ill o o o o al 0 0 o Q ioolQ0000® o o��_d�9_� 5/24/20'17 0 General Fund Interest 2009 -2018 �am Utility Users Tax 2009 -2018 IN Moons soot UUT Annual Review FY 2017 -2018 Budget November 2014— Ordinance 1643 requires annual review of UUT in conjunction with the annual Budget Estimated to generate 84.5 million in FY 2017 -2018 2n° or 3'^ largest revenue source Used to maintain essential services Current rate of 10% 5/24/2017 7 5/24/20'17 EXPENDITURE ESTIMATES —,—.. d..— ,..-I Fiscal Year 2017 -2018 General Fund Proposed Expenditures - $39,786,000 Expenditures Expenditures: DFire Station Bonds - $519,000 (principal and interest - 04/15/2024) DOPEB - $305,200 lifetime medical (Retirees) D GASB 45 - scheduled to be paid quarterly (include 5144,500 from Actuarial Report) DPervdon Bond - $1,258,200 (principal and interest) >Police- (06/15/2019) Expenditures Expenditures: DCOIA- 2.Nfor Executive, Mid- management, SBSPA, and 01 D orange County Fire Autherily D bunt Powers I nsurance Autlrodty rrmrm.e.r"mnu.g -r. v. m,r m Council Disuetfonary Fund Review District 1. Funded Fire Engine $14,849 Blue Cottage $ 5,000 Stall Appreciation Lunch $ 151 $20,000 District 2, Funded Edison Park Improvement $ 1,479 Se Appreciation Lunch $ 151 Seal Beach Animal Care Center $10,000 Edison Park $ B. 37U' $20,000 Note, 'Has not been confirmed yet 5/24/2017 r. Council Discretionary Fund Reel w District 3: Funded Curtains for Marina Center $10,000 Staff Appreciation Lunch $ 151 $10,151 District 4: Funded Staff Appreciation Lunch $ 151 Friends of the Seal Beach Tennis Center $ ? ?? Note: `Has not been confirmed yet Council Discretionary Fund ReNew District 5: Funded Staff Appreciation Lunch $ 151 Revenues vs. Expenses Excluding CIP 5/24/20'17 10 General Fund Summary (Operating Budget Only) FY 2017 -2018 Budget Revenues over Expenditures: Projected Revenues $30,195,900 Projected Expenditures (30.184,900) Estimated Surplus 11.000 Discussion FUND BALANCE RESERVES — ,m,....- -wb, -, 5/24/2017 11 General Fund Estimated Fund Balance zon -zme Re inn Fund Balarc< $ 24,101670 NO Ro.o. (Elon.-) 19 590,100L Eatinulad Ending Fund Balaryx 8 14,514,570 AStigred for Encumerancn If 131 8]1 A ned la DesignaOU¢ 8316 152 A gned is Fixal Polry 6,0W 980 Unasai,,,ed Fwd Bal— 27,607_ Total Estimated Genial Fund Bidace $ 14.614.A0 r�u u.,r.. -1 ss 5/24/20'17 liI%tl General Fund Assigned Fund Balance Projections for Non -CIP FY 2017 -2018 --- .m....•b. -Y a -. General Fund Assigned Fund Balance Projections for CIP FY 2017 -2018 Projected Assigned Ending Fund Balance Summary FY 2017 -2018 aa.ose l6.Y6 ' +i," rya 9mmpPM 11QQ3 - V @19' earem.. r.rve FmmcWr,OOi ISg tW - ]seine 1 --- .m....•b. -Y a -. General Fund Assigned Fund Balance Projections for CIP FY 2017 -2018 Projected Assigned Ending Fund Balance Summary FY 2017 -2018 aa.ose l6.Y6 +i," wme.YVeaal - 9mmpPM 11QQ3 - V @19' FmmcWr,OOi ISg tW - V90.0 $Vq PG�n'ninl Il>.146_ 1il lSir 4W45 SCIBI f1 @HN 5]681 Cmp¢r44barts +SA l.3 .OQ TWappw 65vLbi I16;HA . t0.+5E bye6M(mPo4T G,�IIYY S 611p.Et ! I+.6y.HA f t4M %, 5/24/2017 13 Wrap -up /Summary Supplemental Supplemental Personnel Requests: ➢Management Analyst (Part time) D2 Police Officers DEliminate an Officer, add a Sergeant DRenovate Detective Bureau ➢Building Security/Access Control Expansion (Police) i2 Police Aides for Parking Division i3 Marine Safety Officers (Full time) None approved ,. Additional Discussion Points ❑ Non -profit grant request - In -kind services only ❑ Classification and Compensation Study ❑ DFA Officer - funded by Asset Seizure ❑ Negotiations - on -going with PMA, POA, and MSMA ❑ Fees ❑ Surplus and Reserves 5%24/20'17 M Adjusted General Fund Summary Net of General Fund CIP FY 2017 -2018 Budget Revenues over Expenditures: Projected Revenues $30,195,900 Projected Expenditures (30,184,900) Estimated Surplus 11 000 Future Challenges • Orange County Fire Authority • Joint Powers Insurance Authority • Water Operations • Sewer Operations • Surplus and Reserves questipps 0 5/24/2017 W