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CC 2019-06-11_11b FY 2019-20 Budget Report_PP Presentation Budget Update Report Fiscal Year 2019-20 6/11/2019 11.b 1 Purpose Update revenue projections Recommend adjustments to expenditures Provide direction 6/11/2019 11.b 2 Summary $2,000,000 payment to PERS Fund balance maintained within policy Many challenges remain Resources allocated to Core and Essential Services 6/11/2019 11.b 3 General Fund Budget Assumptions Property tax - 4.25% increase Sales & Use tax - 1.8% decrease Transient Occupancy Tax - 3% increase Recreation Revenue - 2% increase FCFA costs are based on the Preliminary Budget Salary/benefit costs – contractually obligated amounts 6/11/2019 11.b 4 6/11/2019 11.b 5 General Fund Tax Revenue 6/11/2019 11.b 6 General Fund Summary 6/11/2019 11.b 7 6/11/2019 11.b 8 General Fund Expenditure Changes W/C Insurance $ 105,500 Liability Insurance 30,000 Property Insurance 10,000 Lease Payments 24,100 Minimum Wage Increase 24,000 League of CA Cities 6,000 Licensing & Software 6,600 Health Insurance 14,500 Total $ 220,700 6/11/2019 11.b 9 Local Sales Tax Expenditure Changes Five Cities Fire Authority - $57,300 increase Countywide Animal Services Shelter - $50,000 6/11/2019 11.b 10 Water & Sewer Funds – Changes in Expenditures Water Flood Control Zone 3 - $60,100 increase Lease payments - $13,900 Sewer Lease payments - $9,000 6/11/2019 11.b 11 Recommendation Approve detailed budget adjustments listed in the Budget Update Report Adopt a Resolution approving the FY 2019-20 Budget 6/11/2019 11.b 12 Questions 6/11/2019 11.b 13