HomeMy WebLinkAboutMid Year Budget FY 2018-19 - Presentation - 3.5.19Mid-Year Budget
FY 2018-19
FY 18/19 Mid-Year General Fund
•Projected General Fund Revenue June 30, 2018
•Mid-Year FY18/19 projected revenue is $66,652,130
•5.5% or $3,491,170 greater than the amended budget:
$63,160,960
•Major contributors to this change in revenues:
•Increase in Property Tax: $1,385,300
•Increase in Residual Property Tax: $180,000
•Increase in Sales Tax: $129,400
•Transfer-in from Land Proceeds Fund for MOU:
$1,363,667
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Sales Tax
3
Volatile
nature of
Sales Tax
Property Tax
4• Redevelopment Agencies were dissolved in February 2012
• Vehicle License Fee (VLF) – State shifted VLF from the City and replaced it with Property Tax in 2004
In Lieu of VLF and Basic Levy increased by an average of 5%
year over year.
FY 18/19 Mid-Year General Fund Cont.
5GF Projected Expenditure: $69,701,076
City Council
47,900
<1%
City Clerk
651,160
1%
City Attorney
550,000
1%
City Manager
752,400
1%
Economic
Development
1,481,695
2%Finance
1,533,600
2%Human Resources
923,430
1%
Community
Development
4,168,660
6%
Public Works
15,676,886
22%
Police Services
28,981,911
42%
Fire Services
8,026,800
12%
Parks and Recreation
4,383,709
6%
Non-Departmental
2,522,925
4%
FY 18/19 Mid-Year General Fund Cont.
6Increase in Planned Use of Excess Reserves reduces the available
GF Fund Balance.
FY 2018-2019 Adopted Budget
Balanced Budget
Transfer In (from other funds) $5,124,585
Planned Use of Excess Reserves $1,183,386
Revenue $58,036,375
Expenditures ($64,344,346)
$0
FY 2018-2019 Midyear Budget
Balanced Budget
Transfer In (from other funds) $6,548,852
Planned Use of Excess Reserves $3,048,946
Revenue $60,103,278
Expenditures ($69,701,076)
$0
FY 18/19 Mid-Year General Fund Cont.
•Projected Year End Fund Balance
•Mid-Year budget: $19,645,901
•28% of General Fund Expenditures
•Necessary for cash-flow, programs, and
emergencies
•Meets & exceeds the City Council reserve
policy of 20% General Fund reserve
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FY 18/19 Mid-Year General Fund Cont.
•Total Unfunded Liability: $76,513,122
•Pension liability: $62,620,515 (valuation date June
30, 2017)
•Other post-employment benefits (OPEB):
$13,892,607 (valuation date June 30, 2017)
•Appropriation of $3,300,000 towards pension &
$500,000 towards OPEB unfunded liability
•Represents 5% of total unfunded liability
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FY 18/19 Mid-Year General Fund Cont.
•Residual Property Taxes
•AB X1 26 & AB 1484
•Distribution of Redevelopment Property Tax Trust Fund (formerly tax
increment)
•Pass-through payments
•County administrative fees
•ROPS enforceable obligations
•Successor agency administrative cost allowance (3% of ROPS or
$250,000)
•Any remaining amounts (residual) will be distributed to all taxing entities
•Enforceable obligation for FY 2018-19: $4,181,176
•Enforceable obligation for FY 2019-20: $3,936,201
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FY 18/19 Mid-Year – All Funds
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FUND 18/19 Proj Exp
GENERAL FUND $69.70 M
GENERAL FUND - EMERGENCY FUND $0
EQUIP. REPLACEMENT FUND $0.71 M
INFORMATION TECHNOLOGY FUND $3.82 M
LAND HELD FOR RESALE $38.27 M
OBLG REIMB FRM SUCCESSOR AGNCY $600
TUSTIN STREET LIGHTING FUND $0.57 M
CABLE PEG FEES FUND $0.05 M
CAPITAL PROJECT FUND - CIP $8.56 M
PARK DEVELOPMENT / LEGACY $2.72 M
PARS OPEB $0
SPECIAL EVENTS $0.40 M
AD 95-1 CONSTRUCTION $0.49 M
AIR QUALITY MANAGEMENT DISTRICT $0.10 M
ASSET FORFEITURE FUNDS $0
BACKBONE FEE FUND $18.61 M
CDBG $0.67 M
CFD 04-1 / 06-1 / 07-1 / 13-1 / 14-1 $11.54 M
GAS TAX $2.07 M
LIABILITY $1.09 M
MCAS TABs $11.56 M
MEASURE M / M2 $2.65 M
ROAD MAINT. & REHAB. ALLOCATION $0.30 M
SOLID WASTE FUND $0.06 M
SPECIAL TAX B $3.63 M
SUPPL. LAW ENFORCEMENT $0.14 M
SUCCESSOR AGENCY (TRUST FUND) $2.40 M
TUSTIN HOUSING AUTHORITY $1.25 M
TUSTIN LLD $1.12 M
UNEMPLOYMENT $0.02 M
VOLUNTARY WORKFORCE HOUSING INC $0
WATER ENTERPRISE $21.06 M
WATER ENTERPRISE BOND FUNDS $4.77 M
WORKER'S COMPENSATION $0.97 M
TOTAL: $209.31 M
TOTAL EXPENDITURE $209.31 M
RESTRICTED
NON-RESTRICTED $113.08 M
$84.51 M
PARTIALLY RESTRICTED $11.73 M
Restricted Funds – these amounts can be
spent only for the specific purposes stipulated
by constitution, external resource providers, or
through enabling legislation.
FY 18/19 Mid-Year – Capital Projects
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Category
Amended
Budget
FY 18/19
Projected
Expenditure
FY 18/19
FY 18/19
Project
Carryovers
Flood Control Facilities $14.4M $13.7M $0.7M
Park Facilities $1.7M $1.1M $0.6M
Public Facilities $22.7M $11.9M $10.8M
Traffic Control Facilities $5.5M $0.5M $5.0M
Transportation Facilities $14.4M $6.5M $7.9M
Legacy Development $55.8M $30.9M $24.9M
Water Facilities $12.4M $4.9M $7.5M
$126.8M $69.4M $57.4M
Capital Projects are planned for a 7-year period due to the multi-year
nature of these projects. As such, it’s normal for a portion of this year’s
appropriation to be rolled over to subsequent fiscal years.
FY 18/19 Mid-Year – All Funds Cont.
•Increased expenditures
•Land Proceeds Fund:
1.$3,300,000 pre-payment of unfunded
pension
2.$500,000 contribution to trust for OPEB
liabilities
•General Fund:
3.$1,363,667 MOU expenditures
5.$ 655,733 ADA compliance, professional and
consulting services, and tree removal services
•Various Funds (CDBG, Gas Tax, etc.):
4.$235,073 MOU expenditures
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FY 18/19 Mid-Year – All Funds Cont.
•Increased expenditures
•Special Events Fund:
6.$2,000 for Tiller Days expenditures
•Worker’s Comp. Fund:
7.$45,735 insurance premiums.
•Water Enterprise Capital Fund:
8.$106,354 for well maintenance expenditures.
•MCAS 2010 Tax Allocation Bonds Fund:
9.$17,297 capital project
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Questions
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