HomeMy WebLinkAbout2019-2020 Mid Year Budget Presentation 03.09.20 FinalCity of Seal Beach
Mid-Year Budget Review
Fiscal Year 2019-2020
1
Purpose of Mid-Year Budget
2
Discuss projected revenues and expenditures
for fiscal year 2019-20 based on revenues and
expenditures through December 2019.
Discuss changes to the fiscal year 2019-2020
budget based on up-to-date financial
information and historical trends.
Budget Adoption on June 24, 2019
General Fund
Revenues over expenditures less CIP:
Projected Revenues $ 35,726,400
Projected Expenditures excludes CIP (34,270,200)
Estimated Excess Revenues $ 1,456,200
3
General Fund Summary
Projected Revenues
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Description
Adopted/Amended
Budget Estimated Percentage
Increase/
(Decrease)
Property Taxes 11,940,700$ 11,880,900$ 33.5%(59,800)$
Sales and Use Tax 4,470,000 4,470,000 12.6%-
Transaction and Use Tax 4,712,500 4,712,500 13.3%-
Utility User Tax 4,175,000 4,100,000 11.6%(75,000)
Transient Occupancy Tax 1,585,000 1,500,000 4.2%(85,000)
Franchise Fees 1,073,800 989,800 2.8%(84,000)
Other Taxes 214,300 194,100 0.5%(20,200)
Licenses and Permits 1,462,100 1,564,000 4.4%101,900
Intergovernmental 307,300 370,000 1.0%62,700
Charges for Services 3,083,400 3,154,400 8.9%71,000
Fines and Forfeitures 1,410,500 1,271,500 3.6%(139,000)
Use of Money and Property 723,400 618,400 1.7%(105,000)
Other Revenue 453,400 523,000 1.5%69,600
Transfers 115,000 129,600 0.4%14,600
Total 35,726,400$ 35,478,200$ 100%(248,200)$
Decrease (248,200)$
General Fund Summary
Projected Revenues
5
Property Taxes, 33.5%
Sales and Use Tax, 12.6%
Transaction and Use Tax,
13.3%
Utility User Tax, 11.6%
Transient Occupancy Tax,
4.2%
Franchise Fees, 2.8%
Other Taxes, 0.5%
Licenses and Permits,
4.4%
Intergovernmental, 1.0%
Charges for Services, 8.9%
Fines and Forfeitures, 3.6% Use of Money and Property,
1.7% Other Revenue, 1.5%
Transfers, 0.4%
General Fund Summary of
Projected Operating Expenditures
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Description
Adopted/Amended
Budget Estimated Percentage
Increase/
(Decrease)
General Administration 4,836,400$ 4,636,900$ 14%(199,500)$
Police Department 11,766,300 11,712,500 34%(53,800)
Detention Facilities 961,400 989,200 3%27,800
Fire Protection 6,090,700 6,090,700 18%-
Community Development 1,197,100 1,164,900 3%(32,200)
Public Works 3,587,200 3,545,700 10%(41,500)
Refuse Services 1,184,500 1,184,500 3%-
Recreation 1,022,200 972,000 3%(50,200)
Liability Risk Management 1,944,100 1,961,200 6%17,100
Transfer Out (Operation)1,797,700 2,051,600 6%253,900
General Fund Total 34,387,600$ 34,309,200$ 100%(78,400)$
Decrease (78,400)$
General Fund Summary of
Projected Operating Expenditures
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General Administration
14%
Police Department
34%
Detention Facilities
3%
Fire Protection
18%
Community
Development
3%
Public Works
10%
Refuse Services
3%
Recreation
3%
Liability Risk
Management
6%
Transfer Out
(Operation)
6%
General Fund Projected
Fund Balance
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Beginning Fund Balance as of 06/30/19
Projected:
Total Revenues
Total Expenditures (include CIP)
Estimated Ending Fund Balance:
2019-2020
Projected
24,091,165$
35,478,200
(35,475,300)
24,094,065$
Transaction and Use Tax
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Revenues:
Appropriations:
Personnel (5 Officers)
Management Analyst (PD - Reclass)
Fire Services
PD Information Technology (CIP BG2005)
Lifeguard Headquarters and Tower (CIP)
Police Department
Vehicles (Police Department)
Marine Safety Department
IT Services Citywide (CIP BG2002)
Staffings: (CD Dir., Exec. Asst., Acct. Clerk, Mech., and Maint. Srvc Sup.)
Tree Trimming
Pressure Washing
Estimated Appropriations
Estimated Surplus
(546,100)
(56,600)
(302,800)
(820,000)
(160,000)
(727,000)
(168,900)
(209,800)
(874,000)
(100,000)
(60,000)
(4,233,900)
(208,700)
366,100
4,600,000$
2019-2020
Projected
General Fund Summary
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Revenues over expenditures less CIP:
Projected Revenues
Projected Expenditures excludes CIP
Estimated Excess Revenues
(34,309,200)
1,169,000$
35,478,200$
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Questions